Selecting a discount broker is a very crucial step toward investors’ investment journey, a broker is a person who buys and sells goods and assets for others, a broker can negotiate and generate the best possible profit.
A discount broker is a term widely used in the stock market, discount brokers are more specified, cheap, and technologically advanced versions of full-service brokers.
A full-service broker is a licensed financial broker or firm that provides a variety of services to its clients, including research and advice, buy & sell calls, retirement planning, tax tips, and much more.
With their full services which are not mandatory, full-service brokers demand very high brokerage from their customers.
A discount broker is an alternative to full-service brokers.
Discount brokers are the online stock brokers which provide specified trading and investing services, carry out buy and sell orders, with low brokerage rates, compared to full-service brokers.
Investing and trading with discount brokers is very easy, they provide mobile applications to the customers to carry out buy & sell orders.
Their mobile application has a clean UI that easy to understand and, comes with inbuilt chart features.
Opening a Demat account in this application is very easy, investors can easily deposit and withdraw their money from their bank account.
Here we will discuss the best discount brokers available in India.
- Active clients; 3,602,074.
- Zerodha is India’s No. 1 stockbroker. It is the largest and most popular broker in India.
- Zerodha has Rs 0 brokerage for equity delivery and direct mutual funds.
- For intraday trading and F&O, it charges Rs 20 or 0.03% (whichever is lower) per trade.
- With Zerodha’s services, the maximum brokerage you will pay for any transaction is Rs 20 per order.
- Offers up to 20x leverage on intraday trading.
- Offers Zero Commission Direct Mutual Funds.
- Trading & Demat Account Opening Rs 200.
- Trading Account AMC Rs 0.
- Demat Account AMC Rs 300 per year.
- Active clients; 2,141,095.
- Upstox provides a trading opportunity at a very low cost with a very little brokerage.
- The company provides trading opportunity on different segments such as equities, commodities, currency, futures, options which are available on its Upstox Pro Web and Upstox Pro Mobile trading platforms.
- Upstox Account Opening Charges: Rs 0.
- Upstox Demat AMC charges Rs 300 per year (paid monthly).
- Brokerage Rs 0 for equity delivery and Rs 20 per executed order or 0.05% (whichever is lower) for equity intraday.
- STT (Securities Transaction Tax charge) 0.1% on both Buy and Sell for equity delivery and, 0.025% on the Sell Side for equity intraday.
- Active clients; 870,405.
- 5paisa.com is an emerging online stockbroker offering discount brokerage and services to retail investors in India.
- 5paisa Capital Ltd is a publicly-traded company promoted by IIFL founders. As of March 2021.
- 5paisa online trading is available in equity, commodity, and currency at all Indian exchanges.
- 5Paisa has three subscription plans; Basic Pack, Power Investor Pack, and Ultra Trader Pack.
- Account Opening Fee is free for all pack, Brokerage in basic pack Rs 20 per call and Rs 10 in Power Investor Pack and Ultra Trader Pack.
- Active clients; 780,570.
- Groww starts its services in 2016, Groww initially started as a direct mutual fund investment platform.
- In the mid of 2020s, Groww expanded its services which had include Equity trading.
- Groww also offers Digital gold investment, US Stocks, and Fixed deposits as other investment options for its clients.
- Groww charges lower of Rs 20 or 0.05% per executed trade.
- the maximum brokerage you will pay is Rs 20 per order, irrespective of any quantity or amount.
- Groww offers Free Mutual Fund services with Rs 0 charges in investing or redemption of mutual funds.
- Equity Delivery Rs 20 per executed order or 0.05% whichever is lower,
Equity Intraday Rs 20 per executed order or 0.05% whichever is lower.
- Zero Account opening fee.
- Zero Demat AMC Charges.
5. Alice Blue.
- Active clients; 125,223.
- AliceBlue offers only one simple brokerage plan, Freedom 15 or F15 to its customers.
- The brokerage plan F15 minimizes the brokerage fee so that customers will get the lowest cost while trading.
- Equity Delivery Brokerage charge is Rs 0, and Equity Intraday Brokerage charge is Rs 15 per order or 0.01% whichever is lower.
- STT 0.1% on both Buy and Sell for equity delivery and 0.025% on the Sell Side for equity intraday.
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