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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
ProStocks-Open Account ProStocks Review
1Zerodha5,685,723Open Account Zerodha Review
2Upstox4,551,755Open Account Upstox Review
3SAMCO79,835Open Account SAMCO Review
4Paytm Money318,897Open Account Paytm Money Review
5Master Trust54,612Open AccountMaster Trust Review
6Groww2,964,344Open AccountGroww Review
7Fyers98,458Open Account Fyers Review
8Angel Broking3,060,398Open Account Angel Broking Review
9Alice Blue147,637Open Account Alice Blue Review
105paisa1,459,744Open Account 5paisa 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.


12. Saurabh Ghosh  Jan 29, 2021 2:37:30 PM 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
12.1. shubham laxmikant bhutada  Mar 3, 2021 7:08:30 PM I Like It. | Report Abuse
12.2. Atul Kumar  Oct 11, 2021 2:26:00 PM I Like It. | Report Abuse
Trade with Traditional broker they give you always best service, charges are not that matters as compare to service.
11. Rahul Maun  Sep 28, 2021 11:01:49 PM I Like It. | Report Abuse Reply
I want to open account for my son ( minor), for Ipo.. which one should I go for?
10. Umesh Sharma  Oct 1, 2021 3:47:35 PM I Like It. | Report Abuse Reply
“NIWS” National Institute of Wall Street, is one of the top institutes in its domain with a wide list of courses, ranging from Banking, Finance, Stock Market, Portfolio and Wealth Management to Technical and Fundamental analysis. With over 10-15 years experienced professionals in domestic and international markets, we strive to help students to achieve their lifelong career goals and aspirations. We are the best stock market institute in Jaipur and we are having a various course in the stock market. we are among the leading institute of India.
9. niws institute  Sep 24, 2021 3:48:21 PM 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.

8. Sridhar Venkataraman  Jun 28, 2021 1:22:49 PM 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?
7. Om kumar  Jun 27, 2021 8:57:09 AM I Like It. | Report Abuse Reply
Fyers is also very irritating customer care service and very poor response
6. Chandrakant  Jun 15, 2021 10:56:16 AM I Like It. | Report Abuse Reply
zerodha blocks range of options . u can take CePE oy within range.
5. Parmod Gupta  Mar 11, 2021 5:29:29 PM 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
5.1. Ravi  Jun 13, 2021 9:02:06 AM I Like It. 2 | Report Abuse
I will differ .
They are also useless
4. Arun Goel  May 28, 2021 4:49:41 PM I Like It. | Report Abuse Reply
Angel k saath kam karna bahut mushkil h
3. Vrrrao  Apr 24, 2021 12:04:24 PM I Like It. | Report Abuse Reply
Tradeplus is offering Equity options for 99 per month why they are no takers
3.1. Team  May 12, 2021 1:21:53 PM 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.
2. Dilip Bhoyar  Jan 19, 2021 3:44:44 PM 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.,
2.1. Ankita  Feb 14, 2021 10:16:56 PM I Like It. | Report Abuse
Never use angel broking . Here charges are very high. And service is also very poor.
2.2. Parmod Gupta  Mar 11, 2021 5:25:22 PM 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
1. Dhiraj Shivhare  Feb 1, 2021 6:39:50 PM I Like It. | Report Abuse Reply
In Upstrox you will face technical glitches at least once in a week. Reday for losses