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Top 7 Best Discount Brokers in India

best discount brokers

Discount brokers are stockbrokers providing stock brokerage services at the discounted rates. They offer shares and commodities trading services to the customers. A concept of discount brokers was started in 2010. Prior to discount broking, only full-service stockbrokers were instrumental in Indian stock market. Full-service stock brokers provide full services like stock trading, mutual fund investment, commodity trading and lot more. Full-service stockbroker charges a specific percentage of the trade value as a brokerage. Whereas discount broker charges a flat fee for every trade. The rate is as low as Rs.20 per trade.  The discount broker is also popular as a flat fee broker or a budget broker.

A discount broker is popular and widely accepted all over India. Many trader and investors are already using discount broking services. If you are planning to start trading in the stock market or looking for good discount brokers, here is a list of Top 7 Best Discount Brokers in India along with fees and other details.

Also Read – 5 Best Demat Account in India for New Investors

Top 7 Best Discount Brokers in India

  1. Zerodha

Zerodha is a pioneer of discount broking in India. Zerodha is one of the Best Discount Brokers in India. Key features of Zerodha are given below –

Zerodha Key Features

  • Offering trade at a flat fee as low as Rs.20.
  • Advance Trading platforms such as Zerodha Kite, Kite Mobile and Zerodha Pi
  • Mutual Fund trading via Zerodha Coin platform
  • Education initiative such as Zerodha Open Trade

Zerodha Fees

Account opening charges – Rs.200

Maintenance charges – Rs.300

Equity Delivery – Zero Brokerage

Equity Intraday or Future – Rs.20 flat or 0.01% whichever is lower

  1. 5Paisa

5Paisa is one of the best discount brokers in India. 5Paisa is backed by IIFL. 5Paisa offers multiple other services apart from trading like car, health, life insurance and many more. Key features and fees charged by 5Paisa are given below.

5Paisa Key Features

  • Cheapest stock brokers in India with Rs.10 brokerage per executed order
  • Desktop and Web-based trading platform
  • Free Research reports
  • The only discounted broker that is listed on the stock market

5Paisa Fees

Account opening charges – Rs.650

Maintenance charges – Rs.400

Equity Trade & Delivery – Rs.10 per executed order 

  1. Samco

Samco is a popular online discount stock broker in India. Samco offers multiple products at a discounted price. Samco offers trading facility from a desktop as well as from mobile. Key Features and fees charged by Samco are given below.

Samco Key Features

  • No charges of account opening
  • Trading support at BSE,NSE,MCX and MSEI
  • Desktop, mobile and web-based trading platform
  • Trading fees as low as Rs.20 per trade

Samco Fees

Maintenance Charges – Rs.400

Equity Intraday – Rs.20 flat or 0.01% whichever is lower

  1. Upstox (RKSV)

Upstox (RKSV) is one of the best discount brokers in India. Upstox is completely paperless platform. Apart from stock market Upstox also provide mutual fund trading platform.

Upstox Key Features

  • Free delivery trades. Maximum Rs.20 per trade charges in other segments
  • Trading platforms such as Pro Web and Pro Mobile
  • Multiple online tools and calculators
  • Mutual Fund Trading Platform available

Upstox Fees

Equity Intraday – Rs.20 flat, no charges for delivery

  1. SAS online

SAS is an online discount broker in India. SAS offers high-speed trading experience. It is a very good platform for the traders. The key features of SAS online are given below.

SAS online Key Features

  • Trade at Rs.9/trade or enjoy unlimited trading at Rs.999/month
  • High-speed trading platform called as Alpha
  • Mutual Fund Investment facility
  • Portfolio tracker facility on a mobile

SAS online Fees

Equity, Intraday, and delivery – Rs.9 per trade

  1. Trade Jini

Trade Jini is next in the list of best discount brokers. Trade Jini focus more on the technology and provide multiple trading platforms. The key features of Trade Jini are given below.

Trade Jini Key Features

  • Maximum Rs.20 brokerage across segments
  • Multiple trading platforms web-based and mobile based
  • No monthly commitment or hidden fees 
  1. Fyers Securities

Fyers is also known as a free investment zone. Fyers empowers end-user with multiple platforms. The key features of Fyers Securities are given below.

  • Focus on trading platform performance
  • Advance screener and real-time data analytics
  • Support in terms of trading material and learning
  • Free Investment across segment if you win 30 days challenge

Also Read – Best Online Trading Demat Account in India

Best Discount Brokers Final Comparison –

Name of Discount BrokerAccount Opening FeeMaintenance ChargesBrokerage in all Segments
ZerodhaRs.200Rs.300Rs 20/trade or 0.01% whichever is lower
5PaisaRs.650Rs.400Rs.10 per Executed Order
SamcoZeroRs.400Rs 20/trade or 0.01% whichever is lower
UpstoxRs.150Rs.150Rs.20 Flat
SAS OnlineRs.300Rs.200Rs.9/trade
Trade JiniRs.300Rs.300Rs.20 per Executed Order
Fyers SecuritiesZeroRs.400Rs.20 per Executed Order

Why you should go for Discount Brokers?

The reasons of selecting discount brokers are given below.

  • Low brokerage cost
  • Fast trading platform and facility of trading at multiple devices.
  • Do yourself concept No push by support team for selection of stocks.
  • Education content available online.
  • Refer and earn facility by most of the brokers.

Discount brokers may provide attractive trading facility at low cost but you should consider various factors before making selection of brokers. These factors are availability of brokerage facility across segments, cost of trading, customer support, trading platform, account opening and maintenance charges.

At the end I would like to say that, I have tried to include most popular and promising discount brokers as Best Discount Brokers in India. If you think I have missed any name feel free to write me back.

Do share valuable feedback and experience with above discount brokers.

Shitanshu Kapadia
Shitanshu Kapadia
Hi, I am Shitanshu founder of I am engaged in blogging & Digital Marketing for 10 years. The purpose of this blog is to share my experience, knowledge and help people in managing money. Please note that the views expressed on this Blog are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment , tax, financial advice or legal opinion. Please consult a qualified financial planner and do your own due diligence before making any investment decision.