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Top 10 Discount Brokers in India 2020 , Best Online Discount Brokers in India

Any transaction in the share market, be it buy or sell, requires a broker’s intervention who works as an agent between the market and market participants. Security and Exchange Board of India popularly known SEBI is the agency who regulates Stockbrokers and they need to register themselves with SEBI. There are a lot of Share brokers who have Pan India Presence and they offer varied range plan and product to place them in top 10 stock brokers in India.

Special Offer: Brokerage free equity delivery trading + Flat ₹20 Intra-day and F&O trades. Get the offer
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These brokers are broadly divided into 2 segments, One "Full-Service brokers or Traditional Brokers" and the second one is "Discount brokers".

Here we will be talking about Discount brokers

Discount Brokers or Online Discount Brokers:

These brokers came into existence as a result of an increased preference for the Internet. A discount or online brokerage could be a better choice for Investors who are fee-conscious and prefers to go it alone without expert advice. These brokerages will generally not offer investment advice. With a discount brokerage, you can either execute a trade online automatically through a computerized trading system or call in your order with a broker over the phone—although the latter option will likely cost you more.

The discount brokerage firms opened their shops in India in the year 2010. Since then thousands of investors and traders migrated from traditional brokers (i.e. ICICI Direct, Sharekhan) to discount brokers. As they offer 50% - 90% cheaper brokerage and free trading terminals for everyone, they are well accepted and become very popular brokers.

Zerodha who is currently number one in terms of the active customer on NSE is pioneers of Indian discount brokerage industry and among the most popular. Zerodha offers flat Rs 20 per trade brokerage which allows traders to execute trades of any size and pay only flat Rs 20 brokerage on the trade. Zerodha also offers no Brokerage on Delivery trades.

Comparison between Full-Service Brokers v/s Discount Brokers:

Factors Full-Service Brokers Discount Brokers

Service

Advisory for shares, mutual funds, bonds, currencies, commodities etc

Provides trading platform

Brokerage

Average daily brokerage is 0.3%-0.5% per trade

Charge as low as Rs 10/trade, irrespective of the order value

Presence

Operates through a number of branches

Normally do not have much branches and provide online services

Suitable For

An investor and Trader who is new to the stock market and seek hand-holding along with trading tools.

For an Investor/Trader who is well versed with Stock market and can carry out own research

Deciding Parameters

a) Brokerage & Other Charges
b) Research Desk
c) Customer Service
d) Leverages Funding

a) Brokerage
b) Cost of Transaction
c) Customer Support
d) Call & Trade Facility

Zerodha (No 1 Broker in India): Free Equity and Mutual Funds + Flat ₹20/trade Intraday/F&O Open a/c in 15 Minutes

Top 10 Online Discount brokers in India 2020

Rank Online Share Broker Active Clients 2020 Active Clients 2019 % Growth
1 ZERODHA 1414376 979241 44%
2 Upstox 619305 186456 232%
3 5PAISA 434036 147499 194%
4 SAMCO 51432 41354 24%
5 Master Trust 40021 39002 3%
6 Alice Blue 37294 10531 254%
7 TRADE SMART ONLINE 24999 22085 13%
8 FYERS 14189 7099 100%
9 SAS Online 13027 12402 5%
10 Tradeplus 12374 9248 34%