Top 20 Share Brokers | Top 10 Full-Service Brokers | Top 10 Discount Stock Brokers

Top 10 Discount Stock Brokers in India 2021

Top 10 Discount Brokers in India [[yyyy]] (Most Popular)

An authentic list of top discount brokers in India 2021 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 2021

Rank Broker Active Clients Request Callback Review
10Master Trust52,967Open AccountMaster Trust Review
9Fyers68,375Open Account Fyers Review
8SAMCO79,445Open AccountSAMCO Review
7Alice Blue143,792Open Account Alice Blue Review
6Paytm Money180,947Open Account Paytm Money Review
55paisa1,122,001Open Account 5paisa Review
4Groww1,784,059Open AccountGroww Review
3Angel Broking2,306,570Open Account Angel Broking Review
2Upstox3,593,420Open Account Upstox Review
1Zerodha4,755,650Open Account Zerodha 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.


  • 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.


11. Rahul Maun  Sep 28, 2021 22:01 I Like It. | Report Abuse Reply
I want to open account for my son ( minor), for Ipo.. which one should I go for?
10. niws institute  Sep 24, 2021 14:48 I Like It. | Report Abuse Reply
NIWS is one of the best leading institutes of Stock Market Courses, Classes in Delhi with having Branch in Jaipur. Where we will teach you how to trade share market in our Stock market Courses in Delhi. You will make career in Share or Financial market and become a smart investor and trader.

9. Sridhar Venkataraman  Jun 28, 2021 12:22 I Like It. | Report Abuse Reply
Currently Zerodha is restricting the strike prices for weekly options trading (multi day carry forwars) for Nifty Options. Due to this hedging is not possible.
Which discount broker is currently offering a wide range of strikes so that Short Iron Condor and similar hedged startergies can be used?
8. Om kumar  Jun 27, 2021 07:57 I Like It. | Report Abuse Reply
Fyers is also very irritating customer care service and very poor response
7. Chandrakant  Jun 15, 2021 09:56 I Like It. | Report Abuse Reply
zerodha blocks range of options . u can take CePE oy within range.
6. Parmod Gupta  Mar 11, 2021 16:29 I Like It. | Report Abuse Reply
In our country
Almost all discount brokers recruit very cheap and illiterate customer care executive
They are fresher and giving wrong and useless reply

Customer care services is all the best of sharekhan broker
6.1. Ravi  Jun 13, 2021 08:02 I Like It. 1 | Report Abuse
I will differ .
They are also useless
5. Arun Goel  May 28, 2021 15:49 I Like It. | Report Abuse Reply
Angel k saath kam karna bahut mushkil h
4. Vrrrao  Apr 24, 2021 11:04 I Like It. | Report Abuse Reply
Tradeplus is offering Equity options for 99 per month why they are no takers
4.1. Team  May 12, 2021 12:21 I Like It. | Report Abuse
Price is just one factor. They are many other factors like the trading platform & tools, hidden cost, demat charges, margin, funding, customer service, the safety of funds, etc.

We recommend ProStocks for an unlimited monthly trading plan. They charge flat Rs 899 per month for trading across all equity segments. They also offer lifetime free AMC demat account and free account opening.
3. Dilip Bhoyar  Jan 19, 2021 14:44 I Like It. | Report Abuse Reply
I have account with ANGLE and there Phone support is worst. Except Call& Trade no other departments Call will connect. You need to wait very long time to connect. Many times in between talking to customer service call get disconnect. Even if you send mail you will not proper response.
Important is they send bill not as per sebi norms, they can do anythik in bill & cut the anormus charges / fees have no limits.,
3.1. Ankita  Feb 14, 2021 21:16 I Like It. | Report Abuse
Never use angel broking . Here charges are very high. And service is also very poor.
3.2. Parmod Gupta  Mar 11, 2021 16:25 I Like It. | Report Abuse
Same issue with 5 paisa broker
Very Very irritating and poor response with customer care and mail reply

But charges are ok
2. Saurabh Ghosh  Jan 29, 2021 13:37 I Like It. | Report Abuse Reply
I want to shift to other broking for f&o, wanted to know what's the maximum percentage allowed banknifty /nifty trading index is it 1% or more than that.
Do allows deep otm option in any of the brokers
2.1. shubham laxmikant bhutada  Mar 3, 2021 18:08 I Like It. | Report Abuse
1. Dhiraj Shivhare  Feb 1, 2021 17:39 I Like It. | Report Abuse Reply
In Upstrox you will face technical glitches at least once in a week. Reday for losses