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Top 10 Discount Brokers in India in 2017

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.

Top 10 Discount Brokers in India in 2017

Broker Company Name Number of Clients
ZerodhaZERODHA540,905
MyValueTradeMASTER CAPITAL SERVICES LTD45,757
UpstoxRKSV SECURITIES INDIA PVT LTD43,889
5paisa5PAISA CAPITAL LTD36,034
SAMCOSAMCO SECURITIES LTD29,595
TradingBellsSWASTIKA INVESTMART LTD25,560
Trade Smart OnlineVNS FINANCE & CAPITAL SERVICES LTD19,469
SAS OnlineSOUTH ASIAN STOCKS LTD11,869
TradeplusNAVIA MARKETS LTD7,421
Alice BlueALICE BLUE SECURITIES PVT LTD5,181



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