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Top 10 Discount Stock Brokers in India 2016

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

An authentic list of top discount brokers in India 2019 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 2016

Rank Broker Company Name Number of Clients
1ZerodhaZERODHA165,586
2MyValueTradeMASTER CAPITAL SERVICES LTD34,623
3SAMCOSAMCO SECURITIES LTD18,176
4UpstoxRKSV SECURITIES INDIA PVT LTD17,229
5Trade Smart OnlineVNS FINANCE & CAPITAL SERVICES LTD11,995
6SAS OnlineSOUTH ASIAN STOCKS LTD9,384
7TradeplusNAVIA MARKETS LTD5,752
8Alice BlueALICE BLUE SECURITIES PVT LTD4,476
95paisa5PAISA CAPITAL LTD3,652
10Wisdom CapitalASHLAR SECURITIES PVT LTD2,243

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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