The discount brokers offer a cheap brokerage plan with high speed and a fast platform for trading stocks, which helps to attract a lot of customers as compared to the expensive traditional and bank brokers. Because of this, discount brokers are getting more attention and popularity. After this many existing older brokers and firms started offering similar cheaper plans.
Many discount brokers can surpass the well-determined and big ‘established’ trading firms. As result, the traditional brokers are also entering the discount broking model. The traditional brokers are also planning to deliver an option of discount brokerage plans to their clients.
Before choosing the discount stockbrokers, make sure they have the following character traits-
- They should provide the lowest brokerage charge.
- They should give excellent client assistance.
- They should have the best online trading platform.
- They should have a perfect mobile app for stock trading.
- They should have high leverages.
But do we find the best discount stock brokers among so many. Here we have listed down the best discount brokers in India based on some features like the lowest brokerage charges, services offered, trading platforms.
One of the oldest brands which have an experience of 30 years. Among other trading companies in India, Angel One offers many benefits to traders or investors. It delivers the trading facility in Equity, F&O, Commodities, and currency across BSE, NSE, NCDEX & MCX. Angel Broking now offers a flat rate brokerage plan, called ‘Angel iTrade PRIME’. They also provide personalized suggestions for investing in the stock market along with research reports on companies. They are like an expert in Research Reports & market council. Also, they have Zero Brokerage on Long-term Trades.
Established in 2010, Zerodha is among the first few discount brokerage firms in India. They have some excellent advanced features which include- backtesting, advance charting, and many more other features for trading in the Indian Stock Market. It offers trading and investment services in equity, derivatives, currency, mutual funds & commodities.
Irrespective of the volume, the firm charges Rs 20 per transaction. They have free long-term equity delivery trades. They have also some innovative and user-friendly trading platforms. They also provide financial education materials and also direct mutual fund investment from the same Demat account.
Upstox started in 2012 is one of the fast-growing discount brokers. They have the second-highest number of active clients on NSE. They offer trading services in equity, currency, and commodity. Here the equity delivery trades are free here. They provide free delivery trading and a fast paperless Demat and trading account opening. Also, they provide zero brokerage on delivery and flat Rs 20/order on other trades.
5Paisa offers the cheapest stock brokerage for its clients and offers a fast-trading platform. They also offer advisory reports and recommendations which will be very helpful. They offer to trade in equity, currency, commodity, mutual funds, Insurance, and Personal loans.
5Paisa offers free trading in equity and flat brokerage in other elements. They have 100% paperless account investing. Also, they offer a lower maintenance charge. They have also multiple brokerages plans available based on the client’s preference offering flexibility.
Trade Smart is one of the best discount brokers in India. They provide low brokerages, high margins, and fast-trading platforms to their investors or traders. They also offer brokerage services in stock, futures & options, commodity, and currency trading segments.
They offer a flat brokerage of Rs 15 per trade irrespective of the trading volume in its ‘Value’ trading plan. Currently, they are offering a flat 100% off on the Account Opening Charges for the Trade Brains’ readers. They offer zero additional software charges and a Zero Demat AMC charge for the first year.