Who Is The Best Discount Brokerage Service Provider in India?
With the rapid growth in technology over the years, the costs associated with investing and trading in shares, mutual funds, bonds and other securities have significantly reduced. In fact, the era of gigantic brokerage fees are a thing of the past, thanks to the birth of Discount Brokerage Service Providers like 500 per crore.
Traditionally, stock brokers tended to take a significant percentage of the trades that you execute, making the investment world way less accessible than it is in the present day and age. Especially in India, where banks used to dominate the trading scene, online platforms have truly revolutionized the way we think about investing and trading today.
Online Stock brokers that offer low-cost brokerage services (usually at a flat rate per trade executed), are called as discount brokerage service providers. These companies are usually driven by state of the art technology, but seldom offer other allied services like research, market advice, wealth management, etc (as offered by full-service brokerage).
Since they (usually) don't offer comprehensive services like a full-service broker does, their rates are cheaper - by as much as 60%, apart from providing a free trading software to all their users.
If you're looking for the best discount brokerage providers in India, don't worry. In this article, we will go through a list of the Top 10 Discount Brokers in India.
Top 10 Discount Brokers in India
Here is a list of the top 10 discount brokers in India.
500 per crore
500 per crore is one of the best discount brokerage provider in India, if not the best. Established in 2008, 500 per crore has a well-established track record of providing the lowest brokerage charges in the industry.
Unlike other discount brokerage service providers on this list, 500 per crore also provides you with daily market outlook, Intraday Research Call, Fundamental Calls, Technical classes among many such things, making 500 per crore the undisputed best discount brokerage provider in India.
500 per crore offers its services at a brokerage of 0.005% per trade, and 0 annual maintenance charges for both its Demat and Trading accounts.
SAMCO is one of the best discount trading platforms in India , that is home to over 150 thousand happy customers. Apart from offering a free online Demat and trading account, they also offer zero Demat AMC for the first year.
Brokerage fees are at par with the industry, where they charge INR 20/trade executed (or 0.02%, whichever is lower), not to mention an annual maintenance charges of INR 400/year.
Another well renowned name in the discount brokerage industry, Upstox is an extremely reliable broker, and is placed number 3 on our list of the top 10 discount brokers in India.
The brokerage offers its services for INR 20/trade executed, or 2.5% of the transaction, whichever is lower.
Primarily known for their direct code Mutual fund, that allows users to invest in mutual funds and save 1-2% more in a year, 5Paisa is also another top discount brokerage service provider in India.
5Paisa executes trades at an industry par of INR 20/trade, along with an AMC of 540/year.
With over INR 19,000 crores held in customer assets, Master Trust is truly worthy of your trust. You can open a Demat and Trading Account online, and begin enjoying the benefits of discount brokers.
Master trust offers two plans to its potential customers - one with a flat 20/trade executed, and the other with 0.3% brokerage for delivery trades. The latter of the two comes with regular guidance and research services.
Angel One (Formerly Angel broking)
Formerly known as Angel Broking, Angel one is an extremely lucrative online broker. With their state of the art technology, they provide a robust and secure platform that enables users to trade seamlessly.
While equity delivery trades are executed free of cost, intraday, futures and options, commodities and currency trades are priced at INR 20/trade, or 0.25% whichever is lower. They levy an annual maintenance charge of INR 240/year.
A fan favorite (rightly so) online discount brokerage that takes a place in our list is Groww. Apart from providing discount brokerage services, Groww also enables users to invest in FDs, Mutual Funds, F&Os, US Stocks and IPOs, and is perhaps the best Discount brokerage platform for beginners.
Although some questions have been raised about Groww's uptime during high volume trading days, the platform has remained robust on such days. Groww has waived off Annual Maintenance Charges, and settles trades at 20/order, or 0.05% whichever is lower.
One of the only few brokerages to offer INR 0 brokerage on intraday trades, Kotak Securities makes the list of the top 10 discount brokers in India. They also provide free courses, and a quarterly membership of StockEdge Premium with their free Demat account.
Although Kotak securities offer INR 0 brokerage on intraday trades, they charge 0.25% of the brokerage for equity delivery.
Though primarily known for mutual funds, Fyers is another great online discount brokerage service provider. Their platform boasts of a daily turnover of over 15,000+ crores.
Fyers does not charge anything for opening accounts, AMCs, or investments. Intraday trades, and F&Os attract a flat INR 20 brokerage fee.
With over 8 Million active users utilizing this brokerage service provider, it goes without saying that Zerodha is one of the best discount brokerage provider in India. They are known for their marquee products Zerodha Kite (Mobile App to invest in equities), and Zerodha Coin (Mobile App to invest in Mutual Funds).
Zerodha offers INR 0 as trading fees, but does charge an AMC of INR 300, and an account opening charge of INR 200.
In a list of brokerage service providers like Zerodha, Groww and Upstox, you may think proclaiming 500 per crore as the best discount stock broker in India may be a bit pretentious. While we may be a little biased, we assure you, our services do back up all the claims that we've made, and yes, 500 per crore is truly the best discount stock broker in India.
Here are some of the benefits that you'll stand to enjoy by trusting 500 per crore as your chosen platform to trade stocks.
- Lowest brokerage fee. Period. We take close to zero rupees from your trades, 0.005 Rupees to be exact.
- No initial deposits, no Annual Maintenance Charges, no hidden charges. Zip. Zilch. Nada. You don't have to pay a single rupee to open trading account online.
- A completely free, state of the art trading terminal. (ODIN, NEST, Web Trading, Mobile Trading)
- Free training program to help you understand the markets better, and take well-informed decisions.
- 24*7 back office support to all our customers.
- 100% free intraday tips delivered at your fingertips.
- Same day credits for all withdrawals, and same day pay-outs. Earn money today, withdraw money today.
- If you're a HNI client, special offers and discounts will be applicable.
- You'll be assigned a personalized technical desk consisting of a team of experts at your disposal for all your trading and investing needs.
- Online Transactions through NEFT/RTGS.
If you choose to partner with 500 per crore, here are some of the additional benefits on offer.
- Guaranteed highest revenue sharing. We believe in supporting all our partners to the best of our abilities, and we put money where our mouth is. 500 per crore offers the highest revenue sharing percentage in the industry.
- Daily Market Outlook is made available for free in a few clicks.
- Comprehensive Intraday research calls for trading, and fundamental calls for investing.
- Comprehensive market updates, market research and reports.
- Daily research webinars and training programs.
- Dedicated relationship manager, along with call & trade support.
- And many other advantages, which you can find in our partner with us page.
Still feeling like we're blowing our own trumpets? take a look at what our customers have to say about 500 per crore, and why we are truly the best discount stock brokerage service provider in India.
500 per crore was established at the year 2008, and has over 14 years of experience in helping consumers generate wealth. We strive to provide investors with all the necessary tools to make successful trading and investment decisions, which is why we charge an extremely nominal cost for our comprehensive list of tools, resources and platforms. Whether you're looking to trade in the Bombay Stock Exchange, National Stock Exchange, or the Multi Commodity Exchange, 500 Per Crore has your back covered.
Here, at 500 per crore, we believe in transparency, and security. From the very beginning of this institution, we've always promoted equality when it comes to trading activities, and equal access to everyone for efficient trading practices.
With over 2,00,000 active clients in India, we remain committed to provide you easy access to the many financial tools available to make a healthy living for ourselves.
- We provide a completely free to open Demat account online in India and a Trading account to help you purchase, store, and trade shares, securities, commodities, Exchange Traded Funds, Mutual funds and bonds in a secure environment.
- Access to Equity, Derivatives, Commodities, Currencies, Mutual Funds and IPO (Initial Public Offering)
- A comprehensive training program that allows you to stay well-informed about all the latest market trends, including the current and the future scope of the market.
- Best research advice in the industry - Make profitable trading decisions after accessing instant expert guidance from our dedicated team of experts made available to you.
- Round the clock, 24/7 back office support for franchisees.
- Sub-Broker and Franchisee facilities are also available.
Hope this answers your question of who is the best discount share broker online. If you're looking to begin your trading journey, open Demat and trading account online with 500 per crore at 0 cost!