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 2017||2018|
|Broker||Company Name||Number of Clients|
|Upstox||RKSV SECURITIES INDIA PVT LTD||46,790|
|MyValueTrade||MASTER CAPITAL SERVICES LTD||45,809|
|5paisa||5PAISA CAPITAL LTD||40,736|
|SAMCO||SAMCO SECURITIES LTD||30,594|
|TradingBells||SWASTIKA INVESTMART LTD||26,171|
|Trade Smart Online||VNS FINANCE & CAPITAL SERVICES LTD||19,946|
|SAS Online||SOUTH ASIAN STOCKS LTD||12,010|
|RK Global||R K GLOBAL SHARES & SECURITIES LTD||9,969|
|Wisdom Capital||ASHLAR SECURITIES PVT LTD||3,775|