While the services offered by discount brokers in India are fewer as compared to full-service brokers, increasing number of traders has switched to this new breed of brokers who charge minimum brokerage. They are highly beneficial for regular traders who trade in large quantities as it helps in significantly reducing the brokerage they are required to pay when trading with a full-service broker. The way the popularity of stock trading and the awareness about stock market investment in growing in India, one should know about these discount brokers to spend less & earn money.

What is the Difference Between discount brokers vs full service brokers?

Generally as a beginner you might need some tips to trade on stock market or commodity. In such a case a full service broker may provide you a demat account with valuable stock tips, regular trading advise free of cost. They will also charge you sometime via other method. But in case of discount brokers, the concept of very simple. You are going to use their platform and software only to trade in share market. There will be no additional service or advice, that’s why they are able to offer a cheapest brokerage fee also.

List of best discount stock brokers in India 2017

If you are looking for one such discount broker, pick one from the 5 best options listed below-

5. SAS Online

While SAS Online was launched in the year 1995 as a full-service broker, they turned themselves into a discount broker into 2013. Right from stocks, F&O, currency, to commodities, SAS Online offers brokerage services in all the different markets. They are headquartered in New Delhi and have more than 8,000 clients throughout the country. As far as brokerage is concerned, it can be as low as Rs. 9 per trade or you can pay Rs. 999 per month for zero brokerage.

4. Trade Smart Online

VNS Finance and Capital Services is one of the oldest full-service brokers in India and Trade Smart Online is its subsidiary. With a Trade Smart Online account, you can trade in equity, commodity, F&O and even currency market. Moreover, they have recently launched their mobile trading app too. Trade Smart Online offers multiple brokerage plans, like Low Brokerage Plans, Zero Brokerage Plans, Unlimited Trading Plan.

3. TradeJini

While TradeJini is a new entrant in the market, it has quickly turned into one of the most popular discount brokers in the country. The founders of TradeJini have more than 30 years of experience in the industry and have designed their services to offer maximum benefits and convenience to the traders. It currently has 13,000+ clients and a daily turnover of more than Rs. 100 crores. The brokerage charged by TradeJini is Rs. 20 for every executed order or 0.1% of the turnover whichever is lower.

2. RKSV Securities

RKSV Securities is one of the most popular discount brokers in India in terms of the total number of clients. It is RKSV that first launched online-only unlimited free trading plan in India. Founded in the year 2009, it now has more than 70,000 clients throughout India. The discount broker offers a number of additional benefits to its clients, like 5 free trades every month, free delivery based trades and a lot more. It charges a flat fee of Rs. 20 per trade.

1. Zerodha

Currently, the most popular discount broker in India is Zerodha. It was launched in the year 2010 and now has more than 1 lakh clients. The daily turnover of Zerodha clients is more than Rs. 8,000 crores which is around 2% of the total daily turnover of the entire stock market in India. It offers an excellent trading platform NSE NOW for beginners and Zerodha Pi for advanced traders. Zerodha also charges a flat fee of Rs. 20 on F&O and intraday trades. Delivery based trades are free.

If you are searching for a discount broker to significantly save on the brokerage, pick any one from the above-mentioned options. I am sure you will be able to pick any of the best discount brokers in India. If you aware about the basics of stock trading, then why not save on transaction charges by opening a trading account with Zerodha, the lowest brokerage charge trading account provider in India. You can also write a comment below and share your knowledge with any of these discount brokers of India. Thanks for sharing in Facebook & other social media.