Best Discount Brokers in India : Top List 2017
(Last Updated On: October 17, 2017)
As the internet penetration increases in India, Discount broking has become more and more viable business model. This blog post brings the Best discount brokers in India : Top List you need to checkout. The discount broker has a really light asset model and their model is sheerly based on the number of trades as they charge a fraction of fees as compared to Full Service brokers.
Apart from being asset light, discount brokers focus on providing one service like stock trading really well. One might argue that Full service brokers provide many other services however we will keep the debate of discount broker vs full service broker for some other day.
Lets have a look at the best discount brokers in India (in no particular order or preference), who have changed the landscape of brokerage models across India.
5Paisa is backed by financial behemoth India Infoline(IIFL). IIFL brings the stability of being a public limited company and 5paisa as a discount brokerage product offers top of line trading clients to the clients. Being a part of IIFL group, 5paise website offers much more than just Stock Trading. One can go for car, health and term insurance as well on the 5paisa portal. Financial Advisory services are another plus, if you want to take advise instead of do it yourself approach
5Paisa follows a flat and simple brokerage structure. You are charged flat 10 INR for each executed trade in equity segment(Delivery, Equity F&O and currency F&O).
Zerodha is a pioneer in discount broking revolution. They brought the revolution in the broking market by introducing a flat fee based trading fixed at Rs 20 per trade regardless of the volume of the trade. This was a drastic change on how the brokerage was being charged.
Full Service Traditional brokerages charge at %age of the volume of trade which becomes quite exorbitant if the trade size is large. Another path breaking move that Zerodha delivered in the brokerage industry was making the delivery trades free so that new investors can enter the market without barriers.
Here is the structure of Zerodha Fees:
- Equity Delivery: Zero Brokerage
- Equity Intraday or Futures : 0.01% or INR 20 whichever is lower
- Equity Options: INR 20 Flat
For a detailed analysis, you can go through our exclusive post on Zerodha Review : Account Opening,Brokerage and Margin
3. SAS Online
SAS online is is another great entrant in the discount brokerage space. Started by 2 young entrepreneurs, SAS Online aims to be the true discount broker and breaks the barrier of trading even lower. It supports Equity, commodity(MCX) and currency Trading. The trading platform offers the choice of desktop, mobile and web versions to chose from to setup your trade.
SASOnline offers one of the most competitive brokerage and charges only 9INR per trade across all the segments. In case you are a heavier trader and trade more frequently then you can buy a lumpsum plans or INR 499/999 per month and you can do as many trades as you would like without being charged any extra fees.
Samco Securities provides another great online discount brokerage product. Samco provides a whole suite of products at a discount price with highest quality. You can trade Stocks, F&Os, Commodities and Currency in the samco dashboard.
Samco Supports trading on NSE, BSE, MSEI and MCX. Samco product suite offers Samco Trader for trading from desktop, Samco Mobile Trader for trading from iOS/Android platform, Samco Web as a browser based trading platform, Algorithmic trading for high frequency traders, Samco Star for back office management. Samco also supports call and trade but the call and trade facility is separately chargeable just like other discount brokers.
Samco Charges a flat fee of 20 INR per trade of 0.02% whichever is lower across all the segments and exchanges. Thats it !! No hidden cost.
5. Upstox (RKSV)
Upstox is another popular discount brokerage firm. The firm got a lot of fame after being backed by kalaari capital and Ratan Tata. Not to say that this is the only traction they have got. Upstox has built a truely paperless demat account opening and trading platform. One can trade Intraday/commodity/F&O/Currencies on the upstox platform.
Their mutual funds platform is also the one to have a look at. The platform is available on web, desktop and mobile alike.
Just like the other discount brokerages, upstox charges a flat INR 20 per trade. No frills attached !!
Prostocks is a fast growing discount brokerage firm. The founders are really experienced in the brokerage business and committed to providing great service. You can trade Equity (Delivery, intraday, F&O) and currencies on the platform. The platform offers desktop trading tool, a mobile trading application and prostocks web trading application. As of writing this post, prostocks is giving out a free account opening offer.
Prostocks charges flat INR 15 per trade. It offers a monthly and yearly packages as well for unlimited trading but they are mainly suited if you are a high frequency trader doing several trades in a month.
The current era is one of the golden period in trading industry. All the above platforms are great products and really moving the trading community forward. There would be some minor differences between each of them and you can chose any which suits your needs well.
- Each of the brokerages provides different leverage on different segments. Please check that out before opening an account with any of the discount brokers.
- The charges are on “as is” basis, as applicable while writing this post. Please check the latest brokerage on the website before opening an account.
- Most of the brokers provide demat account at the time of opening. Account opening charges may apply on each of them.
- Various Govt and SEBI levies will also apply as per the rules.
Disclaimer: This blog is just our opinion. Please do your own due diligence before opening an account with any of the brokers.
Have you opened an account with any of the Best Discount Brokers in India ? Do share your experiences on the same in the comment section below.A feedback shall help our readers get deeper insights and act wisely by taking the correct financial decisions.https://fintrakk.com/best-discount-brokers-in-india/Best Discount Brokers in India : Top List 2017https://fintrakk.com/wp-content/uploads/2017/08/discount-brokers-1024x512.pnghttps://fintrakk.com/wp-content/uploads/2017/08/discount-brokers-150x150.pngInvestmentbest discount brokers,best discount brokers in India,demat account,discount broker,discount brokers,stock brokers,trading accountAs the internet penetration increases in India, Discount broking has become more and more viable business model. This blog post brings the Best discount brokers in India : Top List you need to checkout. The discount broker has a really light asset model and their model is sheerly based...admin email@example.comAdministratorFinance & Taxation Tips for Indian Investors