11 Best Discount Brokers in India


Can you want to open your first Demat Account? Also want to know who’s best Discount stock broker India, so you join whit them and start trading.

Here’s our team search lots of information about Demat service providers and analyzed them to various criteria because you can get information about India’s best Discount stockbroking services provided.

11 Best Discount Brokers in India 2021

Rank Broker Rating Best Offer
1 Zerodha 4.7/5
2 Upstox 4.6/5
3 5paisa 4.6/5
4 Angel Broking 4.6/5
5 Groww 4.5/5
6 SAMCO 4.1/5
7 Alice Blue 4/5
8 Master Trust 4/5
9 TradeSmart 3.8/5
10 Fyers 3.8/5
11 Paytm Money 3.5/5

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#1. Zerodha

zerodha broker png

We all know Zerodha is the first brokerage firm that introduces a discount segment in India in 2010. A disruptive pricing model and in-house technology have made its most prominent stock brokers in India in terms of active retail clients.

Zerodha offers trading in equities, bonds, currencies, commodities, and mutual funds. It charges a flat fee of ₹20 for every trade, and equity delivery investments are free

Zerodha runs many popular open online education and community initiatives to empower retail traders and investors.

Account Opening Charges with Zerodha :

  • Account opening chargeRs 300(Currently Waived)
  • Annual Maintenance Charge:  Rs 300

Zerodha Brokerage Charge:

  • Delivery charges: Rs 0
  • Intraday Trading: Flat Rs. 20 or 0.03%
  • Equity F&O: Flat ₹20 Per Trade
  • Currency F&O: Flat ₹20 Per Trade
  • Commodity F&O: Flat ₹20 Per Trade

#2. Upstox:

upstox png

upstox is providing head-to-head competition to Zerodha for its low pricing, most popular trading platform, and effective services. Also, upstox is backed by legendary Mr. ratan tata and tiger global, so there is no trust issue.

Upstox’s trading app is most rated in the play store; also, it supported trad party software like- NEST, AmiBroker

upstox pricing very decent it offers free demat and trading accounts and zero brokerage commission in equity delivery trading.

Account Opening Charges with upstox:

  • Account opening chargeRs 0
  • Annual Maintenance Charge: Rs 25 pr month

upstox Brokerage Charge:

  1. Delivery charges: Rs 0
  2. Intraday Trading: Flat Rs. 20 or 0.05% Per Trade
  3. Equity F&O: Flat ₹20 Per Trade
  4. Currency F&O: Flat ₹20 Per Trade
  5. Commodity F&O: Flat ₹20 Per Trade

#3. 5paisa:

5paisa is a sub-brand of popular full-service provider IIFL securities. 5paisa is a leading discount broking firm that offers dual benefit of Flat fee (No % Brokerage) and comprehensive stock market research to its customers.

Apart from trading in equity, currency, commodity, 5Paisa also offers its services in mutual funds, Insurances, Personal loans.

Additionally, 5paisa Partner program is very famous in the market; you can earn up to 50% of Brokerage for every successful Referral. Just sing in and Refer a friend.

Account Opening Charges with 5paisa:

  • Account opening chargeRs 0
  • Annual Maintenance Charge:  Rs 45 per traded month

Angel Broking Brokerage Charge:

  • Delivery charges:  ₹10
  • Intraday Trading: Flat ₹10 Per Trade
  • Equity F&O: Flat ₹10 Per Trade
  • Currency F&O: Flat ₹10 Per Trade
  • Commodity F&O: Flat ₹10 Per Trade

#4. Angel Broking:

Angel broking free demat account banner

Angel Broking is one of the selected brokers of India, who has been serving in this industry for many years. Angel Broking is the largest independent full-service retail broking house. He is the first large-size full-service broker that offers discount brokerage rates to its customer.

He changes intraday, F&O, Currencies & Commodities, charges a fixed rate of ₹20 per trade, and delivery trading is free.

Angel Broking is the only discount broker that offers Research Reports & market advisory service in this pricing range.

Account Opening Charges with Angel Broking:

  • Account opening chargeRs 0 (Currently Waived)
  • Annual Maintenance Charge: Rs 450 (Second year onwards)

Angel Broking Brokerage Charge:

  • Delivery charges: Rs 0
  • Intraday Trading: Flat ₹20 Per Trade
  • Equity F&O: Flat ₹20 Per Trade
  • Currency F&O: Flat ₹20 Per Trade
  • Commodity F&O: Flat ₹20 Per Trade

#5. Groww:

Groww has made a name for itself in a short period. Groww is the number one platform to invest in a mutual fund.

But recently groww enter in stock broking sector with most attractive pricing and trading platform.

If you want to invest in US-listed stock, then groww has significantly simplified this process. You can buy this stock very quickly.

Account Opening Charges with Groww:

  • Account opening chargeRs 0
  • Annual Maintenance Charge: Rs 0

Groww Brokerage Charge:

  • Delivery charges: Rs 0
  • Intraday Trading: Flat Rs. 20 or 0.05%
  • Equity F&O:Rs. 20 or 0.05%

#6. SAMCO:

SAMCO png

SAMCO operates with a simple idea of using technology to radically change the way customers trade. It’s a low cost, technology driven stock broker with memberships across all leading stock and commodity exchanges in India including BSE, NSE, MCX-SX, MCX and NCDEX. 

SAMCO gives his client Rating Tool is the first and only Stock Rating tool in India. It uses an objective mechanism to evaluate and rate companies on various parameters, including market analysis, earnings, balance sheet analysis, corporate governance, and others.

Account Opening Charges with SAMCO:

  • Account opening chargeRs 0
  • Annual Maintenance Charge: Rs 400 (Second year onwards)

SAMCO Brokerage Charge:

  • Delivery charges: ₹20 Or 0.20%
  • Intraday Trading:  ₹20 Or 0.02%
  • Equity F&O: ₹20 Or 0.02%
  • Currency F&O: ₹20 Or 0.02%
  • Commodity F&O: ₹20 Or 0.02%

#7. Alice Blue:

Alice Blue is a high exposure broker in India, which started in 2012, has become a trustworthy name in the stockbroking industry, helping traders in India.

Alice blue gives asses of ANT (Analyse and Trade) service that will help traders make informed decisions while trading. As a personal trading assistant, it provides customized strategies and faster execution, zero time lag, advanced charts with years of historical data, intelligent alerts, and much more.

Alice Blue demat and trading account opening charges:

  • Account Opening Charges: Rs 0
  • Annual maintenance charges: Rs 400

Alice Blue Brokerage charges:

Here are the brokerage charges offered by SAMCO:

  • Delivery Trading: 0.10%
  • Intraday Trading: 0.01%

#8. Master trust:

Master trust Capital is one of the best financial services companies in the market. They have been in the business for over two decades now and have successfully managed relationships with over 200,000 clients building their portfolios and shaping their businesses.

If you compare the brokerage charges of Mastertrust Capital with other industry players, its rates are much better than the other competitors.

For Equity Delivery Trading, they charge a brokerage of 0.30% of the total transaction amount; for Equity Intraday, for Equity Futures and Currency Futures, they have a standard charge of 0.03% brokerage.

Account Opening Charges with Master trust:

  • Account opening chargeRs.555
  • Annual Maintenance Charge:  Rs 300

Master trust Brokerage Charge:

  • Delivery charges: Rs 0
  • Intraday Trading: Flat Rs. 20
  • Equity F&O: Flat ₹20 Per Trade
  • Currency F&O: Flat ₹20 Per Trade
  • Commodity F&O: Flat ₹20 Per Trade

#9. Trade Smart:

Trade Smart Online, being a Discount broker, plans for all types of traders and has flexible Brokerage plans depending upon your trade volume and frequency. They have two different Brokerage plans – one for lesser volume traders and the other for high Volume traders.

In the Lesser Volume plan, they charge as per a percentile of the trade amount. For Equity Intraday, Futures, Currency & Commodities, they charge 0.007% of the trade value, and for Equity Delivery, they charge 0.07% of the trade value.

However, for High Volume traders, they have a Standard Charge of Rs. 15 per executed order charge charged to the trader for each trade irrespective of the trade value. Hence you trade worth 1 Lac, 10Lac or 1 Crore, the charge would be the same for a single order.

Account Opening Charges with Trade Smart :

  • Account opening chargeRs Rs.400
  • Annual Maintenance Charge:  Rs 250

Trade Smart Brokerage Charge:

  • Delivery charges: 0.05%
  • Intraday Trading: Flat Rs. 15 or 0.05%

#10. Fyers:

Fyers security launched in 2015. In less time, it has become one of the best India’s discount brokers. They have associated with IL&FS for Demat and mutual fund service.

Fyers introduced a new method for investment in the stock called ‘ themed investment, ‘ with the ability to invest in the same category of stocks instead of trading in any individual stocks.

It offers an in-house online platform for trading that includes a desktop trading terminal and a phone app. It asserts providing trading platforms with the feature for the best online trading experience.

Fyers demat and trading account opening charges:

  • Account Opening Charges: Rs 0
  • Annual maintenance charges: Rs 0

Fyers Brokerage charges:

  • Delivery Trading: Rs 0
  • Intraday Trading:  Flat brokerage fee of maximum ₹20 per executed order.

#11. Paytm Money:

Paytm Money logo

Paytm Money Limited is a SEBI registered Investment Adviser that offers investment execution & advisory services. Thye simplified user experience allows you to start your investment journey with zero paperwork, seamless digital KYC, automated payments, updated portfolio and powerful insights to make well-informed investment decisions.

Paytm Money offers low-cost services to its customers, and they follow a simple pricing model based on the flat fee model.

Paytm Money demat and trading account opening charges:

  • Account Opening Charges: Rs 0
  • Annual maintenance charges: Rs 0

Paytm Money Brokerage Charge:

  • Delivery charges: Rs 0.01
  • Intraday Trading: Rs 10 per order or 0.05%

Frequently asked Questions:

Who is the top discount broker in india?

Zerodha, Upstox, 5paisa, and Angel broking are top discount broker in India

which discount broker offers a free demat account?

Upstox, Groww, 5paisa, and Angel Broking are top discount brokers they offer free demat account.

  • Which discount broker has the best trading app?

    Zerodha’s ‘Kite’ App is the best app for trading. The reason is ‘Kite’ App is intuitive, powerful, fast, and clean interference.

  • Who is the Best discount broker in India?

    Zerodha is the top discount broker in India due to cheap brokerage charges, advanced technology platforms, and high margins.

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