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Top 10 Discount Stock Brokers in India 2024

Top 10 Discount Brokers in India 2024 (Most Popular)

An authentic list of top discount brokers in India 2024 by the number of active clients. Zerodha is the top most stock broker among all the brokers. Zerodha is followed by discount brokers like 5paisa, upstox and Samco.

There are 3 top discount brokerage firms who have over 1 lakh active customers. The year wise list of top 10 discount stock brokers in India helps you find the big discount brokers.

Top 10 Discount Brokers 2024

Rank Broker Active Clients Request Callback Review Compare
ProStocks-Open Account ProStocks Review
1Groww9,931,232Groww Review
2Zerodha7,392,836Open Account Zerodha Review
3Angel One6,302,598Open Account Angel One Review
4Upstox2,555,618Open Account Upstox Review
5Upstox2,401,555Open Account Upstox Review
6Paytm Money797,157Open Account Paytm Money Review
75paisa550,689Open Account 5paisa Review
8Dhan512,564Dhan Review
9Fyers231,738Open Account Fyers Review
10Alice Blue165,397Open Account Alice Blue Review

Brokers in India are classified into two types based on the services they offer and the fee they charge:

  1. Full-service Broker (Top 10 Full-service Brokers)
  2. Discount Broker

The discount brokers (flat fee brokers or budget brokers) are online stock brokers offering low-cost brokerage services. They are technology driven brokers with low operations cost. Most discount brokers do not offer add-ons like research, advisory (trading tips), PMS, Wealth Management, dedicated relationship manager and local branch support. This allows them to offer trading at a very low brokerage charges.

The discount brokerage firms charge over 60% lower brokerage fees in comparison to full-service brokers. They offer free online trading software to all the customers.

The most popular discount brokers include Zerodha, 5paisa and upstox.

Most discount brokers including Zerodha and Upstox offer brokerage free equity delivery trading and direct mutual funds. For all other segments, they charge a flat rate brokerage i.e. Rs 20 per executed order irrespective to the size of the trade.

A discount broker like 5paisa also offers free research and advisory to all customers.

Some discount stock brokers like ProStocks also offer fixed monthly unlimited trading plans. These plans allow the customer to trade literally unlimited time in a month for a fixed low monthly cost.

Zerodha is the most famous discount broker with over 10 lakh customers. They are the most popular broker in India with excellent product and services.

Note:

  • The data for this report is compiled from BSE and NSE stock exchanges.
  • The best broker ranking is updated every month.
  • Click on the broker name to read broker review.

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