Best Discount Brokers

Top 10 Discount Brokers in India – List of Best Discount Broker

This article is about India’s Top 10 Discount Brokers. We should know in depth about the discount broker and why a stock broker is classified as a discount broker before jumping into the rating & ranking of this list of 10 Best Discount Brokers.

Who is a Discount Broker?

As the name suggests, Discount Broker is a type of stock broking house that offers its customers a massive discount. This discount is primarily linked to brokerage fees. For trading in all asset groups, the Discount Broker charges either a flat rate or charges a very low brokerage rate. Here are 5 criteria that can allow a discount broker to be recognized.

  • Discount on Brokerage Charges
  • Online Account Opening Process
  • No Physical Presence
  • No Research or Advisory
  • Zero Margin Money

Lets us now look into the ranking & rating of Top 10 Discount Brokers in India

Ranking of Top 10 Discount Brokers in India


Broker Name









Upstocx / RKSV






Beeline Broking






Trading Bells









Wisdom Capital


The above rankings are based on 5 factors which determines best discount brokers in India. These 5 Factors are:

  • Stock Broking Experience
  • Products & Services Offerings
  • Brokerage & other Charges
  • Research, Advisory & Stock Tips
  • Quality of Trading Platforms

These factors have been discussed in detail our review of top 10 stock brokers in India

Now, Let us discuss the 5 features of Discount Broker


Discount on Brokerage Charges

The name of the discount broker comes from the huge amount of discount they offer on brokerage fees. These 10 best discount brokers currently offer either a flat brokerage rate of approximately INR 10-20 per order on all asset classes or a minimum of 0.01% on total turnover. In comparison with any other full service broker, this brokerage is incredibly small.

Online Account Opening Process

Many discount brokers do not have a large sales force, so their entire account opening process takes place remotely or by online supported calling. This lowers the cost of operations dramatically for these discount brokers and increases the ROI of the company. The prospect needs to have his or her PAN & Aadhaar information for this online account opening process.

No Physical Presence

By no physical presence, we mean that these top 10 discount brokers don’t have any branch or offline presence. Their entire work happens from Central office.

No Research or Advisory

Discount brokers don’t provide any kind of research & advisory support to their client. Our list of top 10 discount brokers don’t have a massive research team who works on daily basis & provides stock tips & reports.

Zero Margin Money

All Discount brokers follow a policy of zero margin money. During account opening process they don’t take any money from the client & they open demat & trading account without any Margin money. This list of best discount broker follow the same policy.

Conclusion of Best Discount Broker in India

Choosing 10 of the best discount brokers from the 50 list is a very difficult task. But with the aid of our 5 pillar metric to decide the best stock broker in India, we still find our way.

With any of these top 10 discount brokers, any trader who is extremely well versed in the stock market and has very strong experience in this sector can open a Demat account. The trader will benefit from low brokerage & get great experience from their robust trading platforms as well.

Best Discount Broker FAQs

Answer – Discount broker is basically a type of stockbroking firm that is the new additions to the hub of stock brokers. They do not generally provide all the services as that of the traditional brokers, but rather aim to provide discounts to all their customers. The supposed discount is levied on the brokerage fees.

Answer – Discount on brokerage charge, online account opening easy process, no physical presence whatsoever, and zero margin money makes Zerodha the best discount broker to have ever existed. You can trade at lower prices with them, with the best assistance to technology.

Answer – The fact that Angel broking provides a multitude of benefiting stockbroking experience, products and service offerings, less brokerage charges, Research advisory and stock tips to offer, 24×7 customer support, training sessions for clients, margin funding facilityand an enormous quantity of trading platform makes it the best discount broker and a full time service brokers.

Answer – Upstox charges really less commission on every order you make and gives you enough tools to evaluate and study the market all on your own. Upstox provides its customers with more than hundred charts and feasible data for them to make a tactful decision.

Answer – This company offers enough online stock broking services for all its customers and their key features include online trading at BSE, NSE and MCX. At absolute cheap prices, this stock broking house provides the best of technology assistance and trading services & products.

Answer – If at all you are thinking of trading then opening an account to discount broker is pretty advantages. They provide you with a quick trading platform and charges extremely low brokerage which is a powerful tool for every trader to save and score more profit.

Answer – Zerodha’s ‘Kite’ is a mobile app that has come of tremendous value and is shining as the best trading app. That app has a very customer friendly experience and it is pretty easy to use. One of the most deadly features is manifold market watch with the detailed information about the live market.

Answer – Reliance Securities gives up to 10x margin for intraday trading. It stands at a notching height beating every other firm there is. With maximum benefit and low brokerage, this should make all your investments procure high profits throughout the year.

Answer – With a seemingly smooth 9.6/10 rating, extremely low brokerage charges and an easy online account opening process, Zerodha marks itself to be one of the most leading firms to have existed. You can seamlessly get started with them instantly.

Answer – All you have to do is select the best discount brokerage firm you wish to invest in, for instance, Zerodha, fill the account opening form given on the website, upload your documents and go ahead with the KYC, make the payment and once you are verified, you will get the account details in your respective email ID.

List of all Discount Brokers in India –

Zerodha , 5Paisa , Upstox / RKSV , Samco , SAS Online , Wisdom Capital , Trade Smart Online , Tradejini , Beeline Broking , Compositedge , RK Global , Achiievers Equities , Bonanza Portfolio , MDirect , TradingBells , EzWealth , Fyers

List of Stock Broking Franchise in India –

Angel Broking Franchise , Kotak Securities Franchise , ICICI Direct Franchise , Sharekhan Franchise , Motilal Oswal Franchise , IIFL Franchise / India Infoline Franchise , SMC Franchise , Nirmal Bang Franchise , Sushil Finance Franchise , Profitmart Franchise

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