What is Discount Broker : A Discount broker is a stock broker who provide buying and selling facilities in Discount rates or charged a very less commission as compare to full service brokers. Best Discount broker in India provide a basic trading facilities and open demat & trading account online within 24 hours
In this post i have shared a list of Top discount broker in india.
Table of content :
- First discount broker in India
- Types of broker
- Discount Broker ranking
- Discount Broker Advantages and disadvantages
- Compare full service broker and Discount Broker
- Top 5 Cheapest discount broker in India.
First discount broker in India
Zerodha is the first discount broker in India and Nithin kamath is a co founder of zerodha. Zerodha discount brokerage firm is founded in 2010 and they have zero brokerage in delivery and 20 rs per order plan for Intraday trading.
Zerodha comes under top discount broker in india by number of active clients. They have more than 10 lakh active customers in India.
Types of broker
A trader or investor look for broker to open demat account but they dont know where and how to open demat account. To Open account first you should know, how many types of brokers are available in the market and which is best for your investment.
There are 3 types of stock broker in India :
- Full service Broker : They have branch offices in all over India. They provide full services like Advisory services and educational materials. Their brokerage rate is high as compare to discount broker.
- Discount Broker . They do not provide advisory services and education materials to the customers, so that they have very less charges as compare to full service broker.
- Robo Advisors : If you open robo demat account then it is cheaper then full service and discount broker. For robo trading you don’t need to go office. They have their own algorithms for trading. Where robo advisors use their automated trading platform to place order automatically.
Discount Broker ranking
Below is the list of discount broking on the basis of ranking . This list will help you to choose best stock broker for your demat account. In India there are more than 100 + Discount brokers are available. Choosing best broker is must for proper investment.
List of discount brokerage firms
| S.NO | Stock Market Apps | Customer Rating | Download App Link |
| 1. | Zerodha | 10/10 |  |
| 2. | Angel One | 9/10 | |
| 3. | Upstox | 8/10 | |
| 4. | Samco Securities | 7.5/10 | |
| 5. | Choice Broking | 7/10 | |
| 6. | Grow App | 6.75/10 | |
| 7. | Dhan App | 6.50/10 | |
| 8. | Motilal Oswal | 6.25/10 | |
| 9. | Icici Direct | 6/10 | |
| 10. | Sharekhan | 5/10 | |
Online Discount Broker Advantages and disadvantages
Here are some pros and cons of Online Brokers in India :
Advantages :
- Lower Cost : Best online brokers in India provide low cost services.
- All information available on the website and mobile app.
- Less Brokerage Charges
- Free Account Opening Services
- Paperless account opening
- Online Trading terminal web and mobile both
Disadvantages :
- No Advisory services
- Hidden Fees
- No Customer Support
- Low Margin Facilities
Compare full service broker and Discount Broker
This comparison Discount broker V/S Full Service Broker helps you to select best broker for your trading account.
Discount broker V/S Full Service
| S.No | Discount Broker | Full Service Broker |
| 1. | fixed brokerage rate for any order | Offer low brokearge for high volume trading |
| 2. | 0.25 % – 0.75% | 10 rs to 20 rs per order |
| 3. | NO Advisory services | Advisory Services |
| 4. | No Branches | Branches all over india |
| 5. | only email , chat and phone support | Customer support through branch visit, doorstep serving |
| 6. | List of discount broker : ICICI, Zerodha, Upstox , ANgel One I trade prime plan | List of Full service broker : Angel one, sharekhan, Motilal oswal, religare securities. |
Top 5 Cheapest discount broker in India:
Many people look for cheap discount broker because they don’t want to pay more brokerage for trading. below is the list of cheap discount broker in india.
| TOP 5 | Discount broker demat | Download App |
| 1. | zerodha | |
| 2. | Angel One | |
| 3. | Upstox | |
| 4. | Sharekhan | |
| 5. | Motilal Oswal | |
Also Read More :
Conclusion: Now a days 100 + Discount brokers are available choosing best online broker is very difficult task for trading. So that in this post i have discussed Best Discount Broker in India and there pros and cons.
Comment Below which discount broker you are using for investment.
FAQ’s
Zerodha is the number one discount broker in India.
- Which is the best discount broker that gives advisory?
Angel One I trade prime plan is a discount broker who provide free advisory services and recommendation to buy stocks for intraday and for delivery.
Other Discount brokers like choice broking, alice blue, upstox also provide free stock advisory services but angel one is best as compare to others.
- Which broker gives best tips?
Angel One provide both full service and discount broker services with free trading tips for beginners in whatsapp and in telegram channel . They provide recommendation for Equity cash Intraday trading , delivery trading and for stock option, Nifty , Bank Nifty options,
- Which is the best discount broker in India?
Zerodha and Angel One both are best discount broker in India. Zerodha users are more as compare to any other broking firm.
- Are Discount brokers safe in India?
Yes all discount brokers are safe in India. You can open demat account with any discount broker for trading and investment. All the discount brokers are registered with sebi and sebi regulates all the transaction of brokerage firm.
- Is Zerodha is a good discount broker ?
Yes zerodha is a good online discount broker in india. Their trading platform are easy to understand for beginners, so that they can trades and place order fastly. For intraday trading they charge 20 rs per order for equity cash and for future and option. You can trade through mobile and web application.
More than 50 + brokers are registered now. If you ask me which is best then answer is number one zerodha, number two is angel one and number three is upstox.
Zerodha and Angel One is best for option trading because their trading terminal is good and you can do proper stock research and stock option trading with facilities of graph and chart analysis
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I’m Naveen Ekka, Here at Subbroker, I write about how to start trading carrier and make money online from stock Market.
