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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
1Alice Blue130,312Open Account Alice Blue Review
2Fyers38,183Open Account Fyers Review
3Zerodha3,796,628Open Account Zerodha Review
45paisa897,128Open Account 5paisa Review
5Upstox2,369,796Open Account Upstox Review
6Tradeplus19,670Open AccountTradeplus Review
7SAMCO77,792Open AccountSAMCO Review
8Paytm Money101,254Open AccountPaytm Money Review
9Master Trust49,296Open AccountMaster Trust Review
10Groww922,024Open AccountGroww 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.


Parmod Gupta
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. | Report Abuse
I will differ .
They are also useless
Arun Goel
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.
Dilip Bhoyar
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.
Parmod Gupta
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
Saurabh Ghosh
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
shubham laxmikant bhutada
2.1. shubham laxmikant bhutada  Mar 3, 2021 18:08 I Like It. | Report Abuse
Dhiraj Shivhare
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


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