10 Best Discount Stock Brokers in India

Last updated on February 21st, 2017

You’ve probably heard a lot about online discount stock brokers of India who can reduce your trading fees down to unbelievably low prices. Post 2010, the Indian traders have wide variety of brokerage plans to choose from and select the best discount stock brokers in India. Some of them provide their own demat account and some use third party dp to enable you to deal in Stock market. There is cut throat competition among them to become India’s biggest Share Broker. This article provides the list of 10 leading discount broking firms of the country.

Must Read : How to Choose Best Indian Sharebroker for Yourself?

Top 10 and Best discount stock brokers in india

Top 10 Discount Stock Brokers of India

 1) Zerodha

Incorporated in 2010, at present Zerodha is top discount stock brokerage firm in India by volume, Zerodha Logonumber of customers offering Zero brokerage brokerage account. It contributes more than 2% of the market turnover with its daily turnover crossing more than 7000 crores. It offers Rs 20 per executed order. They started with NSE NOW, which is still good for beginners and small investor. At present they offer Zerodha Pi (trade like it is 2020) which is an excellent platform for advanced traders.

zerodha-offer

Update: Starting from 01st December 2015, Zerodha has waived off all the brokerage charges for delivery based trades (Brokerage is charged only for Intraday and F&O Trades). More details can be found at  Zerodha Brokerage Review Page.

 2) SAS Online

SAS Online equity broker was incorporated in 1995, but started its discount brokerage operation in 2013 with headquarter at NewDelhi. SASonline logoSAS Online offers cheapest brokerage charges among the peers in India today at Rs 9 per executed order.  SAS Online also has monthly unlimited trading plans with Rs499 and Rs999. 

sas online open account

Update: At present SASOnline is Waiving off the Rs 200 Account opening fee. For details visit SAS Online Review Page

 3) Tradejini

TradeJini is new entrant to the market, but they have been successful in generating good faith among theTradeJini Logo trading fraternity thanks to their quick and prompt customer service. With more than 30 years of experience, its founders are able to understand the needs of traders of present times. TradeJini has its own dp, hence provide integrated trading platform for equity, F&O, Commodities and Currencies.

tradejiniBanner

Update: At present Tradejini is offering 30 days of unlimited free trading, more details can be found at Tradejini review page.

 4) RKSV Securities

RKSV also entered the market along with Zerodha. RKSV is another popular broking house based out of Mumbai providing one of the best online trading account with zero brokerage plan in India today. RKSV logoIt also offers Rs 20/Trade plan and free delivery based trades.  

RKKSV Securities Banner

Update: RKSV is too offering Zero Brokerage for delivery Trades . More details can be found at  RKSV Brokerage Review Page.

 5) TradeSmartOnline

Trade Smart Online is subsidiary of VNS Finance & Capital Services Ltd. VNS is a traditional brokerage company incorporated in 1994 which has good track record in Indian Share Market. trade Smart Online It also offers various plans which include percentage based, fixed charge based and monthly unlimited trading plans.

Trade Smart online Banner

Update: At present TradeSmartOnline is Waiving off 50% of Account opening fee and 50% cashBack on brokerage for first month. For details visit TradeSmartOnline Review Page

 6) TradePlusOnline 

Tradeplus Online share broker based out of Chennai is the new revamped online brand of Navia Markets Ltd. and Navia Commodities Broker Pvt. Ltd. tradeplusonline-logoThey currently offer unlimited trading for Rs 99/month on Options, Currencies & non-agri commodities and unlimited trading in futures for Rs 799/month. Navia markets has been in the industry since 1983 and through Tradeplus, they are offering discount brokerage services. TradePlusOnline is the first broker in to offer PayTM integration for their Value added Services.

 TradeplusOnline Banner

Update: At present TradePlus is offering Free Account opening, 1 month free charting software (worth Rs 499) and PayTM cashback offer up to 40%. For more details, visit TradePlusOnline Review page

 7)MyValueTrade

MyValueTrade is Noida based subsidiary of Master Trust Group incorporated in 1985. It started the discount brokerage service in August 2014.myvaluetrade logo Because of its large client base, it is able to exceed the turnover of more than 4500+ Crores per day. MyValueTrade offer Rs 10 per executed order for BSE, NSE and MCX exchanges in equity, currencies, derivatives and commodities segment.

MyValuetrade Banner

Update: At present MyValueTrade is offerring discount of Rs200 on account opening fee. For details visit MyValuetrade Review Page

  8) Bonanza Online

Though a Full Service broker offering wide range of services, Bonanza Online also has discount brokerage arm with brokerage rate as low as Rs 18 per order.Bonanza Online logo Bonanza has spread its trustworthy expertise all over the country with pan-India presence with more than 1784 outlets spread across 560 cities, also it is one of the fastest growing financial service provider with 5 mega group companies under it

Bonanza online open account

Update: At present Bonanza Online is Waiving off the Account opening fee. For details visit Bonanza Online Review Page

 9) CompositEdge

CompositEdge is a share broking company incorporated in 1995 in Bangalore and has large customer base in Karnataka. compositedge logo Companies brokerage plan is very unique. Traders will be charged Rs 18 per executed order until first 1000 traders and afterwards the brokerage reduces to Rs 15.  CompositEdge supports fully automated trading  (Algo Trading).

Read full review of CompositEdge : CompositEdge Review

 10) RK Global

RK Global started its retail broking business in 2004 at Kolkata for capital markets . RK Global offered the lowest brokerage at that time wit its Rs 9 per lot structure. RK Global LogoWith the increase in competition due to advent of discount brokers in 2010, they changed the fee structure to Rs9 per executed order. It also has Rs 999 monthly unlimited plan.

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 Over to YOU 

At present none of these online discount brokers feature among the largest stock broking companies of India such as ICICI Direct, Sharekhan and Kotak Securities. But they are growing at exponential rates and may catch up with full service brokers some day. One thing common among all these discount share brokers is reduced brokerage fees. Their brokerage is depend upon the executed order and not on the value of the order which is the case with Full Service Broker. They are able keep the charges at lowest possible levels as they employ fewer employees, fewer products and no research and advisory teams. But you should also keep certain points in mind while selecting the discount share brokers.

  • Brokerage Rates

  • While the cheapest commission rates are very important, don’t rely your decision entirely on this parameter only. Also look out for the other points listed below. Some of the stock brokers in this top ten list offer unlimited trading for a fixed monthly charges. These plans may better suited for high frequency traders rather fixed pay per trade plans.

  • Charges other than Brokerage

  • There will be other transaction fees associated with every stock brokers in India. These fees vary from broker to broker. But you should look for the one who clearly states these figures before hand. Always go with the share broker who displays brokerage calculator on their website, which is clearly sign of transparency. 

  • Customer Service

  • Visit each brokerage’s website and make sure the interface is intuitive and pleasing. This probably shouldn’t be too difficult because it’s entirely subjective. Check out the way your queries are answered. A good stock brokers should ideally create a service ticket for your query and see it closed to your satisfaction. 

  • Auto Square Off time

  • Since discount brokers are most suitable for day traders, the cut off time on the exchange matters to a great extent. A 10 minute extra time to close the position is very valuable.

  • Demat Account

  • Some of the discount brokers like Tradejini have their own DP, which is an added advantage as there will be seamless transfer of funds between the accounts for trading as well as Investing..


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  • Software and Mobile apps

  • This is one of the most important parameters to keep in mind as some of you may be trading from office and firewall may be blocking the broker site or you are not permitted to install software at your system without administrator privileges.  Speak with the brokers about this before opening the account

     Whom do you think is India’s Best Online Stock Trading Broker? 

    That’s regarding the list of 10 best online discount stock brokers in India and their comparison. If you feel the list needs to modified with any other major stock brokers, kindly let us know. If you already have trading account with any one of the above, please share your ratings/critics through comments. 

    And oh yes!, If you think the article was useful, consider sharing it through the social sharing buttons on your left/below

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