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Top 10 Discount Stock Brokers in India 2020

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

An authentic list of top discount brokers in India 2020 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 2020

Rank Broker Active Clients Request Callback Review
1Zerodha3,391,059Open AccountZerodha Review
2Upstox1,960,861Open AccountUpstox Review
35paisa845,879Open Account5paisa Review
4Groww656,519Open AccountGroww Review
5Alice Blue119,106Open AccountAlice Blue Review
6SAMCO76,436Open AccountSAMCO Review
7Paytm Money69,879Open AccountPaytm Money Review
8Master Trust48,927Open AccountMaster Trust Review
9TradeSmart36,817Open AccountTradeSmart Review
10Fyers33,526Open AccountFyers 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.

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.

10 Comments

Parmod Gupta
10. Parmod Gupta  Mar 11, 2021 16:29 I Like It. | Report Abuse Reply 0
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
Dilip Bhoyar
9. Dilip Bhoyar  Jan 19, 2021 14:44 I Like It. | Report Abuse Reply 0
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.,
Ankita
9.1. Ankita  Feb 14, 2021 21:16 I Like It. | Report Abuse 0
Never use angel broking . Here charges are very high. And service is also very poor.
Parmod Gupta
9.2. Parmod Gupta  Mar 11, 2021 16:25 I Like It. | Report Abuse 0
Same issue with 5 paisa broker
Very Very irritating and poor response with customer care and mail reply

But charges are ok
Saurabh Ghosh
8. Saurabh Ghosh  Jan 29, 2021 13:37 I Like It. | Report Abuse Reply 0
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
8.1. shubham laxmikant bhutada  Mar 3, 2021 18:08 I Like It. | Report Abuse 0
IN UPSTOX DEEP OTP BUY ALLOWED IN UPSTOX
Aditya Singh
7. Aditya Singh  Feb 21, 2021 19:32 I Like It. | Report Abuse Reply 0
Zerodha is at the top because of its services and especially because of its GTT feature. We at Inferno Holdings (www.infernoholdings.com) have been interacting with retail investors. Zerodha was being used by the most and GTT feature was applauded a lot, the feature which relieves you from the work of putting an order everyday. Upstox is great too though.
Dhiraj Shivhare
6. Dhiraj Shivhare  Feb 1, 2021 17:39 I Like It. | Report Abuse Reply 0
In Upstrox you will face technical glitches at least once in a week. Reday for losses
Suman
5. Suman  Oct 8, 2020 23:07 I Like It. | Report Abuse Reply 0
I have investing through Motilal Oswal since May 2020.They not follow their commitment.I fed-up very much .Even no person contact for any transaction.I suggest not to trade through moti lal Oswal.
Mahender Goriganti
5.1. Mahender Goriganti  Nov 16, 2020 08:18 I Like It. | Report Abuse 0
I too had very bad experience with MOFSL ,verypoorsericeeventoclosethe account with them too many months & complaints to Gov.administors likeSebi, BSE, CSDL to resolve the issues -perpetual lies about everything they say.
mcxbulliontips.in
4. mcxbulliontips.in  Sep 28, 2020 10:21 I Like It. | Report Abuse Reply 0

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Raja
3. Raja  Sep 2, 2020 17:47 I Like It. | Report Abuse Reply 0
I have account with SAMCO 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.
Serrao. G
2. Serrao. G  Aug 24, 2020 00:00 I Like It. | Report Abuse Reply 0
Very very poor customer service from Angel Broking. They never attend Customer care phone numbers for hours. Its very difficult to contact Angel broking if you have any issues. I regret opening my account with Angel broking.
SHRIPAL  B SHAH
1. SHRIPAL B SHAH  Nov 5, 2019 18:57 I Like It. 1 | Report Abuse Reply 0
Motilal Oswal is the only broker. Which charges an annual trading charge. Secondly, the late payment charge is 24%. Motilal Oswal is a very expensive broker for a small investor.
PRABHU
1.1. PRABHU  Jan 17, 2020 09:11 I Like It. | Report Abuse 0
YES SURE
abhishek kumar
1.2. abhishek kumar  Jul 13, 2020 10:03 I Like It. | Report Abuse 0
i am ABHISHEK from angel broking and charges of late fine is 18%








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