For ages, all stock market investors had to endure one common burden – high brokerage charges. Thankfully the advent of new technology and rapid adoption of internet services has made discount brokers in India more widespread and accessible to retail investors than ever before in stock market.
Who are discount brokers?
As against a full-service broker, discount brokers undertake market orders for reduced commissions. On the flip side, they do not provide investment advice. A discount broker is suitable for those with limited capital capabilities and those unwilling to pay for trade guidance.
How are discount brokers helpful?
They may be called discount brokers but there is no compromise in the services provided. These discount brokers’ easy-to-use trading platforms provide state-of-the-art facilities. Another beneficial thing is that most of the discount brokers in India offer very attractive brokerage fees and complete transparency along with additional benefits like advanced charts, real-time news, and analysis.
The top 10 stockbrokers in India
Here is a list comparing the brokerages of different discount brokers in India:
Broker | Equity Delivery | Equity Intraday | Equity Futures | Equity Options |
Zerodha | Nil | 0.03% or Rs.20/ executed order, WIL | 0.03% or Rs.20/ executed order, WIL | Flat Rs.20/ executed order |
Upstox | 2.5% or Rs.20/ executed order, WIL | 0.05% or Rs.20/ executed order, WIL | 0.05% or Rs.20/ executed order, WIL | Flat Rs.20/ executed order |
Angel Broking | Nil | 0.25% or Rs.20/ executed order, WIL | 0.25% or Rs.20/ executed order, WIL | 0.25% or Rs.20/ executed order, WIL |
Groww | 0.05% or Rs.20/ executed order, WIL | 0.05% or Rs.20/ executed order, WIL | Flat Rs.20/ executed order | Flat Rs.20/ executed order |
5paisa | Flat Rs.20/ executed order | Flat Rs.20/ executed order | Flat Rs.20/ executed order | Flat Rs.20/ executed order |
Kotak Securities | 0.25% of transaction value | Nil | Intraday – Nil
Others – Rs.20/executed order |
Intraday – Nil
Others – Rs.20/executed order |
PayTM Money | Rs.0.01/ executed order | 0.05% or Rs.10/ executed order, WIL | 0.02% or Rs.10/ executed order, WIL | 0.02% or Rs.10/ executed order, WIL |
Alice Blue | Nil | 0.05% or Rs.15/ executed order, WIL | 0.05% or Rs.15/ executed order, WIL | Flat Rs.15/ executed order |
Samco | 0.20% or Rs.20/ executed order, WIL | 0.02% or Rs.20/ executed order, WIL | 0.02% or Rs.20/ executed order, WIL | 0.02% or Rs.20/ executed order, WIL |
Fyers | Nil | Flat Rs.20/ executed order | Flat Rs.20/ executed order | Flat Rs.20/ executed order |
Zerodha remains the most popular broker. Other players like the new entrant PayTM Money, Alice Blue, Samco, and Fyers also round up the record of top 10 cheapest stockbrokers in India.
Summing up
The current market scenario has the investor spoilt for choice. Depending upon the strategies used, participants now have various options to choose their partner in their stock market journey. To simplify the process of investing and reach your goals faster, you can also consult a financial expert. They can help you map out your investing strategy and this is especially useful at the beginning of your investing journey.