Discount Brokers are the online stock brokers offering cheap brokerage plans to the retail and institutional investors in India. Discount broker offers brokerage services in share and commodities trading. They are also called as flat fee brokers or budget brokers.
The discount brokerage firms opened their shops in India in year 2010. Since then thousands of investors and traders moved from traditional brokers (i.e. ICICI Direct, Sharekhan) to discount brokers. As they offer 60% - 80% cheaper brokerage and free trading terminals for everyone, they are well accepted and become very popular brokers.
Zerodha and RKSV are pioneers of Indian discount brokerage industry and among the most popular. Both of them offers flat Rs 20 per trade brokerage. This allows traders to execute trades of any size and pay flat Rs 20 brokerage on the trade.
Since year 2010, few traditional brokers adopted the business strategy of discount brokers and started offering discount brokerage plan or become a discount broker. IIFL and Master Capital are among few big traditional brokers who now offer discount brokerage plans.
Below is the list of top 10 discount brokers in India based on number of clients they have trading at NSE. Click on the name of broker to know more about them and the services they offer.
|<< Year 2016||2017|
|Broker Name||Number of Clients|
Rs 899 Unlimited Equity
Rs 499 Unlimited Curr
or Rs 15 per Trade
Lowest Transaction Charge
Lowest Call & Trade Fee
Lowest Stamp Duty
Flat Rs 20 Per Trade
Free Equity Delivery Trades
Rs 100 off on account opening* + 100% brokerage refund if in 60 days you have made net profits
(* on online account opening)