• Top Stock Brokers in India ‐ Reviews, Comparison and Offers

Top 5 Discount Brokers

As the name suggests, Discount Brokers are the online stock brokers offering cheap brokerage plans to the retail and institutional investors in India. The Discount Broker would charge either flat rate for trading across all the asset class or they charge very minimal brokerage rate. Discount broker offers brokerage services in share and commodities trading. They are also called as flat fee brokers or budget brokers.

Below are the top 5 discount brokers in India based on number of active clients they have:

  • 1. ZERODHA
  • 2. Upstox
  • 3. SAMCO
  • 4. 5Paisa
  • 5. Trade Smart Online

 (Comparison of all 5 to be shown)

ProStocksZerodhaSAS OnlineMyValueTrade5paisa
About The Brokers
 "Prostocks is latest entrant in discount broking space and known for low overall charges including broking, stamp duty and transaction charges. They also offer very attractive fixed brokerage Plan to choose from."
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 Zerodha is the innovator of the discount broking model in India, Infect, it brought the concept of discount broking in India and post that the overall dynamics of the stock broking space has seen huge transformation. It offers a broad range of financial products and services including securities brokerage, mutual fund distribution, Commodity trading etc. at low brokerage (zerodha rs 20 per trade).
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 "SAS Online makes its mark in the discount trading space by providing clients with most affordable broking plans "
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 "MyValueTrade is one of the most economical discount brokers in India and has history of working in share broking space since 1985 with unique single window login facility for all of his services like trading, BackOffice, analytics, Demat a/c reports, fund payin/payout services."
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 "Low Brokerage, decent trading platforms, provision of tips & recommendation makes 5 Paisa a player who offers more than the value for money services to his customers."
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Find More Information about the Broker : Overview Brokerage Product Services Trading Platform Ratings Overview Brokerage Product Services Trading Platform Ratings Overview Brokerage Product Services Trading Platform Ratings Overview Brokerage Product Services Trading Platform Ratings Overview Brokerage Product Services Trading Platform Ratings
Type of Broker
 Discount Broker
 Discount Broker
 Discount Broker
 Discount Broker
 Discount Broker
Active Users
 2581
 641682
 12214
 45843
 49927
Year Of Experience
 <5 Yr
 5-10 Yr
 >10 Yr
 >10 Yr
 5-10 Yr
Promo/offers
Exclusive Offer
Unlimited Equity Trading- Rs 899/PM, 8999/PY. testing contains.
Exclusive Offer
Free Equity delivery trade testing contains.
Exclusive Offer
Unlimited Equity Trading- Rs 999/PM + Zero Trading A/c opening Fees. testing contains.
Exclusive Offer
Refer and earn Rs.1000 each reference. testing contains.
Exclusive Offer
Get 5 free trade & save Rs. 1050 on a/c Opening testing contains.
Why to Choose
ProStocksZerodhaSAS OnlineMyValueTrade5paisa
Features  
  • Various option on Brokerage Plans to select from depending on your trading requirements. You can Choose from
    •  Flat Rs 15 per order
    •  Monthly unlimited trading plans.
    •  Yearly unlimited trading plans.
  • One of the most affordable calls & trading charges.
  • Give you the opportunity to earn through the referral program.
  • You need not to pay in case you are not trading in any month.
  • Even though Protock is the discount broker, you get option choosing from the various trading plan.
  • It provides you with DP service as well.
  • Low Stampduty Charges.
 
  •  Zerodha Charge flat rate of Rs 20 per executed order.
  •  Zerodha does not charge any brokerage on Equity delivery transactions.
  •  Zerodha provides platform to invest in mutual funds.
  •  Innovative trading platform.
  •  No upfront fee, no minimum brokerage and no minimum contract charges.
 
  •  Rs 9 per trade Plan or 1 Paisa, One of the lowest Broking charges in India.
  •  It offers Plan for unlimited Trading across segments.
  •  It offers Margin against the shares.
  •  They have their own Demat services.
 
  •  Simple Brokerage Plans with minimal charges: They have extremely simple and easy to understand the brokerage plan. It charges the brokerage of Rs10/ per executed. No matter how many times you trade and what's your size of the trade, brokerage remains same for all the exchanges.
  •  One platform for the trading activities: It provides a single platform across the category. There is no hassle to remember different passwords, and from one login you can trade in equity, commodity & currency. Also, a single login for exchange and back-office software.
  •  Dedicated customer service:My value trade provides 24*7 customer care service. Very few discount broker provide such service. Turn around time of their helpdesk is fastest with the majority of satisfying results.
  •  After market order:You place the order for the share in which you want to invest after the market hours. Once the stock market opens, your share will get credit in electronic format into your Demat account.
  •  Margin and Exposure: My Value Trade offers up to 33 times exposure.
  •  latest news and updates:You can watch live TV on your MCT TRADERS. They air the top 4 business channel so that their customers are always up to date with the latest market new and real-time data of the stock market.
 It is one of the renowned stockbrokers who provide broking service to its clients at a nominal rate.*5 Paisa offers broking service, opportunity to invest in mutual funds, insurance facility, and various other financial products to diversify your portfolio. *All trading platform of 5 paisa.com has an excellent user interface.*High-quality investment advice from an experienced research team is leveraging from the parent stock broking company India Infoline."
Review & Ratings
ProStocksZerodhaSAS OnlineMyValueTrade5paisa
Overall
(3.2/5)  
(3.84/5)  
(3.5/5)  
(3.5/5)  
(3.7/5)  
Brokerage & Other Charges
(4.75/5)  
(4.1/5)  
(4.8/5)  
(4.3/5)  
(3.8/5)  
Experience (Yrs / No. Of User)
(2/5)  
(4.5/5)  
(2.5/5)  
(3/5)  
(2.5/5)  
Customer Services
(2.5/5)  
(3.5/5)  
(2.5/5)  
(3.5/5)  
(3.5/5)  
Investment Offering
(2.6/5)  
(2.6/5)  
(2.4/5)  
(2/5)  
(2.4/5)  
Plateform & Tools
(4.5/5)  
(4.5/5)  
(4.5/5)  
(3.5/5)  
(4/5)  
Research
(0/5)  
(0/5)  
(0/5)  
(0/5)  
(3.75/5)  
Mobile Trading
(3/5)  
(3.9/5)  
(3.6/5)  
(3.7/5)  
(4/5)  
" Contact Broker / Request A Call Back"
ProStocksZerodhaSAS OnlineMyValueTrade5paisa
Contact Broker
Account Opening & AMC Charges
ProStocksZerodhaSAS OnlineMyValueTrade5paisa
Accounting Opening (Trading A/c) Rs.0 Rs 200 for self printed or Rs 300 courier form Rs 200 Rs 555 Rs 650
Accounting Opening (Demat A/c) Rs.0 Rs 100 Rs 200 NIL NIL
AMC Yearly (Trading) Rs.0 NIL NIL NIL NIL
AMC Yearly (Demat) Rs.0 Rs 300 Rs 200 Rs 400 Rs 400
Brokerage
ProStocksZerodhaSAS OnlineMyValueTrade5paisa
Minimum Brokerage Rs. 15 NIL NIL Rs. 10 Rs. 10
Brokerage Plan Monthly : Rs.899 Equity/Rs.499 Currency Plan. Yearly : Rs.Rs.8999Equity/Rs.4999 Currency Plan. NA Rs.999 Equity/Rs.999 Commodity/Rs.499 Currency Plan Fixed Brokerage of Rs 1000 PM / Rs. 10000 PY NA
Equity Delivery Rs.15 per Trade NIL 0.01% or Rs.9 per Trade (whichever is lower) Rs.10 per Trade Rs.10 per Trade
Equity Intraday Rs.15 per Trade 0.01% or Rs.20 per Trade (whichever is lower) 0.01% or Rs.9 per Trade (whichever is lower) Rs.10 per Trade Rs.10 per Trade
Equity Future Rs.15 per Trade 0.01% or Rs.20 per Trade (whichever is lower) 0.01% or Rs.9 per Trade (whichever is lower) Rs.10 per Trade Rs.10 per Trade
Equity Options Rs.15 per Trade 0.01% or Rs.20 per Trade (whichever is lower) 0.01% or Rs.9 per Trade (whichever is lower) Rs.10 per Trade Rs.10 per Trade
Currency Future Rs.15 per Trade 0.01% or Rs.20 per Trade (whichever is lower) 0.01% or Rs.9 per Trade (whichever is lower) Rs.10 per Trade Rs.10 per Trade
Currency Options Rs.15 per Trade 0.01% or Rs.20 per Trade (whichever is lower) 0.01% or Rs.9 per Trade (whichever is lower) Rs.10 per Trade Rs.10 per Trade
Commodity Trading NA 0.01% or Rs.20 per Trade (whichever is lower) 0.01% or Rs.9 per Trade (whichever is lower) Rs.10 per Trade NA
Transcation Charges
ProStocksZerodhaSAS OnlineMyValueTrade5paisa
Equity Delivery NSE: 0.00350%| BSE: 0.00275% NSE: 0.00325%, BSE Rs1 NSE 0.00325% | BSE: Rs1.5 NSC / BSC: 0.00325% NSC / BSC: 0.00325%
Equity Intraday NSE: 0.00350%| BSE: 0.00275% NSE: 0.00325%, BSE Rs1 NSE 0.00325% | BSE: Rs1.5 NSC / BSC: 0.00325% NSC / BSC: 0.00325%
Equity Future NSE: 0.00190%| BSE: 0.0005% NSE: 0.0021%, BSE Rs1 NSE 0.0025% | BSE: Rs1.5 NSE 0.003% | BSE 0.0015% NSC/BSC : 0.0021%
Equity Options NSE: 0.05%| BSE: 0.025% NSE: 0.053%, BSE Rs1 NSE 0.065% | BSE: Rs1.5 NSE 0.06% | BSE 0.035% NSC/BSC : 0.051%
Currency Future NSE: 0.0011%| BSE: 0.0001% NSE: 0.00135% NSE 0.00165% NSE 0.0012% | BSE 0.001% NSC/BSC : 0.0021%
Currency Options NSE: 0.04%| BSE: 0.0001% NSE: 0.044% NSE 0.06% NSE 0.042% | BSE 0.01% NSC/BSC : 0.051%
Commodity Trading NA Non-Agri: 0.0031% | Agri: 0.00175% Non-Agri: 0.0031% | Agri: 0.00175% 0.0025% NA
Advantages and Disadvantages
ProStocksZerodhaSAS OnlineMyValueTrade5paisa
Pros 
  • Rs 15 flat-fee trades.
  • Unlimited Trading Plan to offer.
  • Own DP services.
  • Lowest call & Trade charges.
  • Fully online account opening process.
 
  •  No Brokerage on Equity delivery.
  •  Flat rate for stock trading.
  •  Own DP services.
  •  Strong Customer service .
  •  Good Brokerage & Margin Calculator.
 
  •  Cheapest Rs 9 flat-fee trades.
  •  Unlimited Trading Plan to offer.
  •  Own DP services
  •  Pay when you use, if not trading in any month then no monthly charges.
 
  • Trading plans include unlimited quantity and size of trading on all exchanges NSE, BSE and MCX.
  • Have tie up with 45 major banks for instant funds transfer facility.
  • MyValueTrade provides you with the opportunity of trading in Intraday up to 33 times exposure.
  • You can use the same funds for trading across the Trade across the segments viz. Equity, commodity, derivatives and currency. They are flexible and do not restrict their traders.
 It provides service equivalent to full-service broker though it discount broker.*It is one of the cheapest stock brokers in India and charges brokerage at the rate of Rs 10 per executed order. *Provide trading facility in Equity & derivatives, Future & Options (F&O) and Currency segments.*Robo Advisory platform to builds a fully customized mutual fund investment portfolio.*One mobile app for all services like trading in equity & derivatives, IPOs, Mutual Funds, and Insurance.*Above average customer service as a perk of its parent company, i.e., IIFL.
Cons 
  • Opportunity to invest in IPO is not available.
  • Opportunity to invest in Mutual Funds.
  • commodity trading facility is not available.
  • You will not get any research tips as there is no in-house team
 
  •  No margin funding.
  •  Does not facility to Invest in IPO.
 
  •  No support for NRI trading.
  •  Does not facility to invest in IPO.
  •  Does not provide facility to invest in Mutual Funds,Bonds.
 
  •  MyValueTrade doesn't offer 3-in-1 account.
  •  They do not provide research reports, tips or suggestion to its traders.
 Does not have a physical presence anywhere all over India-No branches.* Does not provide monthly or yearly plans for trading. *Does not provide the facility of trading in commodity* No Charges for Trading Software
Platforms & Tools
ProStocksZerodhaSAS OnlineMyValueTrade5paisa
Web-Platform
Mobile App_Android
Mobile App_Iphone
Desktop_Windows
Desktop_Mac
Ipad_App
Customer Services
ProStocksZerodhaSAS OnlineMyValueTrade5paisa
Toll Free Number
Live Chat Facility
Email Facility
Branch Offices
Customer Care
Products & Services
ProStocksZerodhaSAS OnlineMyValueTrade5paisa
Call in Trade
Trading in Both the Exchanges
3 in 1 Online Trading Account
NRI Services
Offers Multiple Plan
IPO Investment
Brokerage Calculator
Margin Calculator
Investment Services
ProStocksZerodhaSAS OnlineMyValueTrade5paisa
Commodity Trading
Investment in Mutual Funds
Investment in ETFs
Investment in Bonds
Investement in Debt funds
Banking Services
Insurance Services
SIP (Mutual Funds)
Research & Market Report
ProStocksZerodhaSAS OnlineMyValueTrade5paisa
Equity Trading Recommendations
Equity Investment Recommendations
Free Tips
Daily Market Reports
ETF Research
Quarterly Results
Mutual Fund recommendation Basis Risk Profile
Mutual fund comparision
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ProStocksZerodhaSAS OnlineMyValueTrade5paisa
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