best discount broker in india 2021

Best Discount Broker in India -2023 has revolutionized trading:

While searching for the best discount broker in India, you will find many companies such as Wisdom Capital, that introduced a niche segment of services to meet the requirements of investors. The drift took place with the introduction of discount brokers in India, especially when they developed into full-fledged brokerage charges. The exceptional achievement of new-gen discount brokerage organizations in India is their ability to deliver information to investors and traders to invest timely. The top discount brokers in India have been able to revolutionize the trading scenario in numerous ways.

Top 10 Best Discount Broker in India 2020-21 | top discount brokers in India

Define the Best Discount Broker in India: 2023

The concept of discount brokerage was popular in eastern countries, before making headway into the Indian market. The best broker in India is a stockbroker who charges fewer brokerage charges compared to fully-operational stockbrokers. However, the best discount broker in India does not give investment advice or 1-on-1 assistance, etc.

They provide the minimum infrastructure required to allow the customer to trade and usually charge a flat fee of INR 20 approx (irrespective of the trade value). In contrast, full-service stockbrokers typically charge 0.3% of the trade size. Hence, the top discount brokers in India are ideal for those who already have relevant experience in trading and do not require any initial push.

The best discount brokers in India incur reasonable fees for the maintenance of the Best Demat account. About 30% of the top discount brokers in India pay an account opening fee. Additionally, budget brokers offer advanced technology trading platforms that provide fast & flawless trading experiences.

Top Discount Brokers in India Trading Transformation with 

Traders get numerous trading opportunities with the best discount broker in India. The performance grade achieved by the best discount broker in India can be easily seen when the market heats up. You can also go through the NSE’s figures of active traders who are majorly involved in the share market. Until the global financial crisis occurred, India’s stockbroking industry was doing fine during the equity bull phase.

Gradually, traders got an enthralling opportunity to trade with the best discount broker in India at lesser brokerages, which sometimes are negligible. This was the initial moment of the top discount brokers in India. Later, the free online trading platforms got inclusive of the features, such as better charting, exceptional research & filtering tools, real-time market quotes, etc. Online trading has reached more than a million people in today’s time. That well represents the scope of the best discount broker in India, leaving behind the trading barriers.

Full-Service vs Discount Stockbrokers: How do they differ?

You get the complete package with a full-service stockbroker. Someone else makes moves on your behalf and manages your investment portfolio. Earlier, the only option for trading was choosing full-service stockbrokers, and for each transaction, they cost a lot. Nowadays, full-service brokers cost a lot less and still offer investment advice along with managing your portfolio. However, most full-service stockbrokers require account minimums from you to work with them.

However, the best discount brokers in India offer you the opportunity to make all the efforts on your own. They provide you with online trading platforms in which you can make your own investment decisions. They might also offer helpful tools to help you decide what suits you best. You can do very well on your own as long as you have an understanding of these tools. Even the best broker in India will give you limited financial advice. 

When to go for the Best Discount Broker in India?

The top discount brokers in India are perfect if you have less money to invest, or you have some specific requirements to invest. Below-cited is a few characteristics of the best broker in India:

  1. Complete Control

With the best discount broker in India, you’re solely in charge of your financial portfolio, as it is you who decides what to purchase, sell, and when. You are the one who defines & executes your investment strategies. If you like to manage your portfolio on your own, the best discount broker in India can be ideal for you.

2. Technology Friendly

Most discount stockbrokers offer online trading platforms, and if you feel comfortable learning new tools, you may use them for trading.

3. Less Investment

Most discount brokers do not require account minimums and let you start trading with a significantly less amount. Furthermore, there are fewer commissions on fees. Hence your returns are not being much affected.

4. Better Analysis

Lastly, if you’re sure to analyze information and make sound decisions, the top discount brokers in India can be an excellent choice.

With the best discount broker in India, you’ll get a plethora of options and be in command of what happens further. If that idea seems alright to you or you are looking for a reasonable platform to start making your financial portfolio. The best broker in India can be the right choice for your trading needs.

When to go for a Full-Service Stock broker?

On the other front, you may prefer to hire a professional to take care of your financial portfolio. Below-mentioned three scenarios in which you may think of choosing a full-service broker:

  • If you’re uncomfortable in managing your portfolio

For most people, the thought of investing is terrifying, and they do not prefer to manage their portfolio on their own. Hence, if you’re going to be stressful, it would be best if you switch to the professionals at a full-service stockbroker firm.

  •  If you don’t have enough time to manage your investments

Another reason why most successful and wealthy people do not manage their investments on their own is that they do not have enough time. Being personally engaged in your portfolio can take up plenty of time. Hence, if you want to make time for something other than portfolio management, it would best to opt for a full-service stockbroker.

  •  If you have sufficient money to make it useful

A few full-service best stock brokers in India provide you with discounts when you have some specific measure of assets. Hence, if you are eligible for that discount, it can be easy for you to manage your investment costs.

Advantages & Disadvantages of Discount Brokers in India

Advantages of the Top Discount Brokers in India

Below-cited is the top advantages of discount brokers in India:

  • Online Trading Platform: The best discount broker in India offers an online trading platform to its customers and makes the trading process relatively quick and flawless.
  • Economical: In contrast to full-service brokers, the best broker in India charges minimum brokerage and thus proves to be considerably inexpensive.
  • Transparency: When it comes to transparency, the best broker in India proves to be beneficial as their margin & brokerage calculators are viewed publicly by all.
  • Online Training: The best discount brokers in India offer their employees online training for effective trading techniques.
  • Instant Account: The best discount broker in India is popularly useful for paperless opening accounts. It barely takes 10 minutes to open an account and is way faster than full-service stockbrokers.
  • Unbiased: It is hardly of any significance to the best broker in India whether you are an established trader or beginner as it offers equal privileges to both.
  • Online Tutorials: The best discount brokers in India often post their videos online to assist clients in understanding some critical refinements of stock trading that a full-service broker cannot provide.
  •  Least Transactional Cost: Discount brokers offer the minimum transaction prices despite their higher trade volume.

Disadvantages of Top Discount Brokers in India

Below-cited is some disadvantages of discount stock brokers:

  • Lack of Advice: The top discount brokers in India are often not qualified to offer any advice regarding trading or investing. Hence, it’s up to the customer to decide in which stock should he invest.
  • Lack of Physical Branches: The best discount brokers in India have all their operations online, including settlement as they do not have numerous branches. Hence, it is one of the disadvantages when there is a need for personal interaction.
  • No Relationship Manager: Unlike fully-operational stockbrokers, discount brokers do not provide relationship managers to assist & resolve queries of their clients.
  • No Portfolio Management: Discount brokers do not offer portfolio management services. Hence, if you are seeking this, a full-fledged stockbroker would be the best choice for you.

A plethora of discount brokers offer their services in India, and thus it makes it a little challenging for the traders to select the best discount broker in India. The primary factor you should look for in the best broker in India is if it is trustworthy or not. The stock market is a highly unpredictable industry that involves a lot of internal risks. Hence, it would be best if you have the support of a trustworthy & experienced broker.

Things Remember While Choosing Best Discount Broker in India

Choosing the best discount broker in India has become extremely critical and involves taking care of the below-described things:

  • Trading Platform: It is what primarily defines whether the chosen broker is up to a point or not. Kindly note that the trading platform must be user-friendly, and must have several features, such as research tools, order placing tools, etc. to get maximum gains.
  • Brokerage: It is another factor that should be taken into consideration while choosing the best discount broker in India, i.e., it must charge minimum brokerage.
  • Customer Service: Besides tools & charges, the best discount broker in India should offer prompt & round-the-clock support to its customers for seamless trading services.
  • Leverage: Lastly, while selecting the best broker in India, one should not overlook the trading margin, as it is a significant factor that differentiates between two stockbrokers.

Top 10 List of Discount Brokers in India showing Their Margins 

SR. No.Broker NameBrokerageMargin
Wisdom CapitalFreedom Or 0.005%Up to 60 times depending on the brokerage plan
2.UPSTOX/RKSVINR 20 per orderUp to 20 times
3.ZerodhaINR 20 per tradeUp to 20 times
4.SAS onlineINR 9 per orderUp to 20 times
5.5PaisaINR 10 per executed orderUp to 15 times
6.Bonanza Online0.01%Up to 10 times
7.TradejiniINR 20 or 0.01% per executed order.Up to 20 times.
8.Aditya Birla Money0.03%Up to 15 times.
9.Nirmal Bang0.02%Up to 10 times.
10.Trade Smart OnlineINR 15 per executed order or 0.07%Up to 30 times.

Impact on Fixed & Marginal Costs

Absorbing information technology for understanding the trading process, new-gen discount brokerage firms have lessened the fixed and marginal costs of producing financial services to a broader scope. They also have been quite remarkable in posing challenges to traditional investors/traders. The second most crucial difference seen with the concept of online brokers is the access to better stock brokerage & trading.

Top 10 Best Discount Brokers in India- 2022

RankLeading Discount Brokers in IndiaCommission charged/ BrokerageAccount Opening chargesDemat Account Maintenance ChargesOnline Trading PlatformTrust Rating
1.Wisdom Capital0.00% in all segmentsNILINR 999 +GST(1 time only)NSE NOW, NEST, Fox Trader4.5/5
2.UpstoxINR 20/ tradeINR 150INR 150 per yearUpstox Pro3.9/5
3.Trade Smart OnlineINR 15/ tradeINR 200INR 300 (2nd year onwards)NEST3.8/5
4.ZerodhaINR 20/ tradeINR 300INR 300 per yearZerodha PI4.5/5
5.SAMCOINR 20/ tradeNILNILSAMCO Web Express3.2/5
6.SAS OnlineINR 9/ tradeINR 200INR 200 per yearNEST, Alpha Trader3/5
7.5 PaisaINR 10/ tradeINR 650INR 400 per year5 Paisa Trade Station2.8/5
8.TradejiniINR 20/ trade INR 300INR 300NEST Trader2.8/5
9.Pro stocksINR 15 / tradeZeroINR 1000Pro stocks Desktop2.7/5
10.RK GlobalINR 9 / tradeINR 50INR 250Diet by ODIN2.2/5

More Information About The Top 10 Best Discount Broker In India:

In a matter of only some years, the Top 10 discount brokers in India have grown significantly and have obtained an acceptable range over NSE’s total number of customers. In the old times, SEBI was concerned to restrict trading in derivatives by varying the size of the contract. That was thought to prevent the massive losses that might occur to the investors/traders who couldn’t afford that. Yet, with the rise of online discount brokers, trading is not that challenging anymore as you can save a lot on brokerage costs by picking up the best discount broker from the list of discount brokers in India cited below.

Developing Exceptional Skills in Investors & Traders

The collaboration of new-gen discount brokers with e-commerce platforms has transformed the accessibility of the services. However, most traders who utilize the advanced tools and models now have more comprehensive command over their trade results than the conventional ones. What has made them competent enough in contrast to traditional traders is real-time access to data, showing their beliefs, and intuition to select the right stocks.

Redesigned Stock Trading under the Best Discount Broker in India

The most significant contribution of discount brokers in the trading industry is the shift of services from office infrastructures to digital environments. An online discount broker company has lessened the chances, where an investor had to remain wary of the broker taking unfair advantage of him in the event of a limit order in conventional trading.

Online discount brokers have saved an enormous amount of money for both investors & traders. The reason behind lower expenses with an online stockbroker is a fewer set-up fee & employees, and minimal operations. As the fixed operational costs are decided, the marginal costs of trades automatically become usual.

Top 6 Trading Platforms in India Provided by Best Discount Broker in India

1. Wisdom Capital – Fox Trader

best discount broker in india | wisdom capital

Wisdom Capital’s Fox Trader is one of the ultimate online trading platforms and is far superior to trading platforms provided by other top discount brokers in India. It has unique features, such as real-time data, data-enabled charts for the best predictions, options calculator & analysis with excellent visualization and price alerts, to make a sound trading decision.

2. Zerodha

best discount broker in india | Zerodha

Zerodha’s Pi is another popular online trading platform with exceptional features, such as backtesting, quick quotes update, charts, and bridge. Moreover, it offers features like historical data and advanced technical & charting indicators.

3. India Infoline

best discount broker in india | IIFL

Trader Terminal is a trading platform by IIFL that offers enhanced analysis & charting. It allows you to trade in IPOs, mutual funds, currencies, commodities, derivatives, and cash. Other features are multiple market watch, streaming quotes, live news & research, live chat, and instant trade execution.

4. Sharekhan

best discount broker in india | Sharekhan

ShareKhan’s Trade Tiger is considered best for intraday traders and offers certain unique features. It has several advanced charting tools, trade from charts, live streaming quotes, heat map, one-click filter, single platform trade, and automated order alert, on MCX, BSE, NSE, and NCDEX.

5. Upstox

best discount broker in india | upstox

Upstox Pro offers an impressive range of charting features, powerful search features, technical indicators, and excellent trade execution tools.

6. ICICI Direct

best discount broker in india | icic direct

Trade Racer of ICICI Direct comes with multiple watch list facilities, research calls, live streaming quotes, integrated fund transfer systems, charts, and technical analysis.

Making an Overall Impression upon the Working of Stock Exchanges

The best discount broker in India is not just by themselves. They are fully backed by NSE Stock Exchanges. Suppose, if the best discount brokers in India decrease the order placement cost, stock exchanges inverses it by lessening the trade execution costs. Most of India’s stock exchanges are now wholly digitalized, thereby enabling automatic trades.

The e-trading systems utilize maximum capacities to draw all the potential sellers & buyers. Hence, the choice of all the traders should be contemplated in terminals. Furthermore, with market access, search engines select the best prices from any segment and show the results online.

Performance-Based Rating for the Best Discount Broker in India

Sr. No.Trading PlatformsTechnical EfficacyMarket WatchChartsOption Calculator- AnalysisPrice Alerts & Advisory
1. FOX-TRADER (Wisdom Capital)9/1010/109.5/109.5/109/10
2. ZERODHA PI8/108/109/108.5/108/10
3. TRADE TIGER7/107/107.5/108/107/10

Devising Well Experienced Financial Marketing

By eliminating the middlemen in brokerages, the best discount broker in India has provided significant benefits to a trader. Discount brokers do not give any personal advice, but they do offer plenty of online tools to learn about the capital market in India. Besides, the other ways to learn are seeking information from different sources, such as chat rooms, video tutorials, forums, and websites.

However, freely available information online varies quality-wise from website-to-website. It leads to an impulse from an investor’s part of being resistant to even paying for quality information. The organizations have introduced the concept of annual charges in the form of “wrap fees”. With so much freely accessible knowledge, the most crucial one that an investor seeks is about the long-term financial plans and asset allocation in contrast to a particular asset.

Here as well, an investor will disagree with paying a regular fee for occasional pieces of advice. Instead, he will move towards online tools that incur fewer costs. In such a situation, the traders seeking solutions for complex requirements will reach financial planners or brokers, and will be offered semi-customized information. Furthermore, the internet is promoting new investor services and different forms of advice. Overall, the enlightenment of the top discount brokers in India has led to the development of self-inspired investors & traders who are getting returns and investments based upon technology-driven trading platforms.

Final Conclusion on Best Discount Broker in India

Kindly note that the top 10 discount brokers in India we discussed above are determined based on their reviews. Additional comparison factors cited are taken into consideration as per traders’ most searched criteria by the traders across the country presently. The best discount broker in India is in striking demand nowadays leaving behind the era of full-time stockbrokers.

The discounted brokerage and the enthralling investment plans have enticed the traders more towards discount broking. The best broker in India also offers free unlimited trading in one of its plans that suits beginner investors in the market. By implementing such a strategy, investors can trade freely without losing brokerage money due to a lack of trading experience. You can also conduct in-depth research of the top 10 discount brokers in India to make a sound direction.


Discount brokers in India have low brokerage fees and offer fast & innovative trading platforms for currency, commodities, and stocks. The brokerage charges while trading discount brokers are way less than the traditional stockbrokers in India like SBICap, ICICI Direct, HDFC Securities, etc.

Discount brokers have simple & direct business functioning. They offer a flat brokerage fee for every transaction that their clients make. The brokerage is between INR 10 -20 per transaction, irrespective of trade sizes.

On the other front, full-service stockbrokers charge a percentage of the trade volume, and its range is between 0.3-0.7% of the trade volume. Hence, as the trade volume rises, you end up paying high brokerage charges.

Wisdom Capital is a leading discount broker and offers three different plans to the traders:

    • Freedom Plan
    • Pro Plan
    • Ultimate Plan

All the above-cited plans have different margins & brokerage charges. Its freedom plan has zero brokerage charges across all segments but doesn’t have a decent margin. The pro and ultimate plans offer higher margins, but they do involve high brokerage fees too. However, for all three plans, the annual maintenance charges are the same, i.e. INR 999.

stock broker is a professional who buys & sells stocks on behalf of clients. Stock brokers are of the following two types:

    • Discount Brokers
    • Traditional Brokers

Discount brokers in India charge relatively fewer brokerage fees compared to traditional stockbrokers. However, they do not offer research & advisory services. On the other front, traditional or conventional stockbrokers charge high commissions while offering stock research & advisory services. However, traders bear significant losses because of the delayed research and massive call flows, and hence the research services do not appear to be practically useful. Therefore, a majority of traders prefer to choose discount brokers.

There are a plethora of stock brokers in India offering numerous trading options, such as mutual funds, currencies, delivery, commodities, Intraday, etc. However, amongst all segments, Wisdom Capital is the apt choice of most traders. It is the first mover in the discount brokerage segment and offers incredible trading plans to suit the different preferences of investors. Furthermore, it also offers the most innovative trading tools & platform, which is available for both desktop and mobile users.

You can get in touch with them through their round-the-clock customer care. Therefore, whether you are a novice or an experienced trader, it would be best to opt for Wisdom Capital’s trading services. An essential point to note is that Wisdom Capital has zero brokerage fees in all segments with its freedom plan.

It is safe for the traders to invest their money in them for a definite reason that brokerage business is exceedingly regulated. However, it would be great to consider the pointers cited below for finding the right discount broker. Have a look.

  • Commission Fees and other Costs

Always think of the commissions and other charges that the stockbrokers charge. However, it is not a great thought to over-insist on this pointer. Additionally, try knowing the services & features offered. Every stockbroker has a minimum of two trading plans to offer. Usually, the first one is for day traders, and the other one suits more for long-term traders.

  • Minimum Transactions

The second crucial pointer is to check if there are any terms & conditions about minimum transactions that you will have to make or the minimum balance to maintain, and the penalty charges for not abiding by this point.

  • Different Investment options

If you'd be buying and selling mutual funds through your trading account, it would be best to look for the funds that the stockbroker has tied up with and the facilities it offers. Whereas, if you will be investing in ETFs, options, or fixed deposits, know whether the stockbroker has these offerings.

As compared to the full-service stockbrokers, discount brokers in India charge a much lower commission. Wisdom Capital, Zerodha, Compositedge, RKSV Securities, and Smart Trade Online are India's prominent discount brokers.

The most reliable, safe, and reputed stockbroker is the one who incredibly controls its trading platform's back-end. When stockbrokers develop, revamp, and enhance their trading platforms, it provides them with an edge over other stockbrokers in the market. That is because, by doing this, they cater to their clients' requirements on their own, i.e. without involving any third-party vendor. In the stock market ecosystem, time is money. Therefore, a trading platform of the best discount broker in India must have no down-time and zero lags as any hang-ups could result in significant losses.

Kindly note that it is not always advisable to choose big as the larger a stockbroker becomes, the more human resources it requires to cater to its existing and potential clients, which is quite challenging in the long run. Furthermore, managing IT services has been a dream for numerous big and famous stockbrokers because of infrastructure, systems, and legacy software.

The first thing that matters for a trader is order placement. Then comes the customer support, and lastly the costs. It seems ideal to trade with a stockbroker who can excellently assure these outlooks. Among the most neglected pointers while opting for a stockbroker is their hidden fees. Hence, it would be great to ensure that you are well-informed about all the charges of a stockbroker.

There are numerous online stockbrokers in India who offer flat-fee or zero brokerage per order. Some of them even offer free delivery or intraday trading. However, as everyone quotes, nothing comes free and the cheapest is not always the most reliable one.

First things first, we should not judge a stockbroker primarily on the lowest fees only. Otherwise, you will end up leaving it prematurely the moment you become unhappy with its services or insufficient assistance. Hence, it would be great if you select a stockbroker that offers the lowest fees along with reliable services and adequate customer support.

Wisdom Capital is the best discount broker in India that offers zero brokerage in all trading segments in its Freedom Plan. They additionally offer very high margins in their Pro & Ultimate plans with fixed brokerage charges for unlimited trade volume. Moreover, they have seamless customer service that is available 24*7. Lastly, their Demat account maintenance charges are INR 999+ taxes (lifetime).

Features of Wisdom Capital:

    • Zero commission charges in all segments
    • Free-to-use trading platform
    • Demat Account Maintenance Charges: Rs. 999+tax (lifetime)
    • INR 20 for Call & Trade
    • Excellent Customer Support
    • Decent margin under Freedom Plan( zero brokerage charges)
    • They offer the highest margin up to 60 times in intraday, with 0.007% brokerage charges.
    • Trade Eye: User-friendly mobile trading app

Full-service & discount brokers are the two types of stock brokers in India. Full-service brokers offer an extensive array of trading services to their clients, including advice, stock research, retirement plans, tax-savings recommendations, etc. It's usual to see higher commission charges in full-service brokers than discount brokers.

However, as the full-service brokers offer recommendations & detailed research to cater to the different needs of their clients, the high brokerage fees are reasonable. Also, full-service brokers are excellent for traders who don't have much time to stay up-to-date with tax and retirement planning.

On the contrary, discount brokers in India are the most preferred online trading platforms nowadays. They enable the traders to make trading choices on their own and charge them low commission fees. So, all you need is to find the best discount broker to begin your investment journey. They will not only provide you with incredible trading services and low brokerage, but also with innovative tools for trading, round-the-clock customer care, and no hidden fees. Based on the factors cited above,

some brokerage firms have got themselves enlisted under top 10 brokers, and are mentioned below:

    • Wisdom Capital
    • Upstox
    • Zerodha
    • Angel Broking
    • 5Paisa
    • Kotak Securities
    • ICICI Direct
    • Motilal Oswal
    • Sharekhan
    • HDFC Securities

A discount stockbroker is a brokerage firm that charges low brokerage charges from the traders. These stockbrokers are also known as budget brokers and have low commission rates to cater to their customers' requirements.

Discount stockbrokers, either firms or individuals, buy and sell orders on behalf of their clients. However, they do not offer detailed stock research, advice, or other recommendations. Hence, the significant customers of a discount stock broker are the traders who can make investment decisions on their own.

Features of Discount Stock Brokers:

    • Low or zero commission charges
    • Fast & Innovative Trading Platforms
    • All accounts at a single place
    • Excellent evaluation tools to help you select customized investments

Discount Stockbrokers: Things to Remember:

    • Having a look at all the available investment options
    • Going through trading costs, account maintenance fees, and other charges
    • Know the Minimum Deposit Amount Required
    • Check if there is twenty-four seven availability of customer service
    • Type of research tools & educational tutorials they offer

Top 10 Discount Brokers in India: 2021

    • Wisdom Capital
    • Zerodha
    • Upstox
    • Sharekhan
    • 5Paisa
    • Angel Broking
    • ICICI Direct
    • Kotak Securities
    • Motilal Oswal
    • HDFC Securities

Final Words

Selecting the best discount broker in India is like choosing any other thing, i.e. you will not make any decision without doing a little research and analysis. The more investigation you do, the more convenient it will be for you to find a discount stock broker that can work as per your budget and offer incredible services.

It would be great to consider the pointers described below while choosing the right share broker in India: Different Account Charges: Account opening and annual maintenance are the two significant charges incurred under a Demat account. Therefore, check if you can open a free Demat account with the best stock broker in India so that you do not end up paying hefty fees on account maintenance. Secure Trading Platform:  A secure trading platform with an excellent response rate will help you do stock market transactions flawlessly. So it would be great to ensure both security & responsiveness while opting for the best stock broker in India. Round-the-clock Assistance:  There comes a situation while trading when you get confused and require a professional's assistance. That is when you reach out to your stockbroker’s customer care department. Hence, while choosing the best discount broker in India, always look for prompt customer care, and then make a sound decision. Brokerage Charges:  Several stockbrokers charge brokerage fees from the traders for the services they provide to them. These charges are associated with Demat & trading accounts and are incurred for each stock trade you make. Hence, always select the best stock broker in India so that you have to pay low or zero brokerage.

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