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Top 10 Discount Stock Brokers in India 2022

Top 10 Discount Brokers in India 2022 (Most Popular)

An authentic list of top discount brokers in India 2022 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 2022

Rank Broker Active Clients Request Callback Review
ProStocks-Open Account ProStocks Review
1Zerodha6,604,055Open Account Zerodha Review
2Groww5,062,064Groww Review
3Angel One4,232,924Open Account Angel One Review
4Upstox4,158,649Open Account Upstox Review
55paisa1,225,034Open Account 5paisa Review
6Paytm Money615,776Open Account Paytm Money Review
7Fyers160,840Open Account Fyers Review
8Alice Blue141,686Open Account Alice Blue Review
9Bajaj Financial82,992Open Account Bajaj Financial Review
10SAMCO72,049Open Account SAMCO 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.


1. PANKAJ   I Like It. |Report Abuse|  Link|May 26, 2022 6:20:14 PMReply
Which unlimited plan broker offers best trading platform and backoffice services?
1.1. Team Chittorgarh.com   I Like It. |Report Abuse|  Link|Dec 9, 2022 2:33:32 PM
ProStocks Rs 999 per month unlimited trading plan is the cheapest and the best. The same plan also works with API trading which makes them chepaest.