Best Discount Stock Brokers in India

These days, when someone discusses creating a new demat account, they frequently use the term “Discount Broker.” Discount stock brokers initiate more than 70% of newly created demat accounts on the NSE and BSE. When creating a new demat account, consumers choose to go with the top discount brokers in India in order to minimize the brokerage costs associated with stock trading. The right discount brokers provide high intraday leverage, smart trading platforms, detailed technical charts, and up to 90% savings on brokerage costs when customers register a demat account.

A few years ago, it was quite challenging to trade at any time, from any location, quickly and profitably. You also had to figure out how much brokerage and government tax you would need to pay before you could make a deal.

Nevertheless, Share Brokers in India are an exception to this rule. This has been made very simple by discount brokers, who enjoy doing it every day. To save money on brokerage, it is crucial to open an account with a discount broker, regardless of whether you are an inexperienced investor.

What Is A Discount Broker?

One type of stock broker that offers great service to you at a reasonable brokerage fee is a discount broker. Allowing purchasing and selling transactions is its primary goal. These Discount Stock Brokers don’t provide their customers services like research reports or advice suggestions. Discount brokers provide their customers with extensive educational resources.

Through the trading site, the discount broker serves as a direct conduit between the customer and the stock exchange, to the customer’s great advantage. Customers may trade anywhere, at any time. Discount brokers do not fraud people, pressuring them to trade. Thus, they prevent false advising suggestions and unsolicited stock broker calls. These trading platforms may be accessed through any medium, including mobile apps, web-based platforms, and computer applications.

Discount Stock Brokers in India: A Comprehensive Guide

If you are looking for a reliable and best stock broker, it is necessary to know more about them. So, below is a List of Discount Stock Brokers in India. 


The largest discount in India, Zerodha, was established in 2010 by Nitin Kamath and provided free investments in stocks and mutual funds and a flat brokerage for Intraday and other traders. It accounts for more than 15% of all daily retail transactions on the Indian Stock Market and has more than +1 Crore of customers. Over +5,000,000 downloads of its smartphone app, “KITE,” have been made in the Play Store. Zerodha is ahead of all these major Share Brokers in India because of its creativity and realistic strategy.


  • Commence trading and investing with India’s top stockbroker.
  • A technology-first strategy
  • Complimentary Long-Term Equity Delivery Deals
  • The flat maximum brokerage of a trade is Rs 20.
  • Creative and easy-to-use trading interface·   High-end brands and resources for understanding finances
Trading Account Opening ChargesRs 200
Demat AMCRs.300 per Annum
Trading AMCRs 300 per year


Groww’s trading platforms are always being enhanced with the goal of making trading and investing easier, more efficient, and transparent for its customers. You have the option to invest via a mobile app or a web browser, and switching between the two is seamless. This is the Best Stock Broker for beginners. 

Groww provides its users with easy-to-use, safe, and intuitive trading platforms. Customer transactions are hassle-free on these platforms. Their online platform is comparable to the mobile application. FDs, ETFs, US stocks, gold, mutual funds, and stocks may all be invested in only a few clicks. The app is simple to use.


  • Well-written instructional materials for learning about mutual funds and equities
  • One app for all investing alternatives guarantees simple money management;
  • Free brokerage on equities delivery; availability of stock financial data for enhanced comprehension
  • Ability to apply for an initial public offering (IPO).
Trading Account Opening ChargesZero
Demat AMCZero
Trading AMCFree

Angel One

Founded in 1987, Angel One is a well-known brand with over 5 million satisfied clients and over 30 years of expertise in the Best Stock Broker industry. They have their roots in more than 1800 Indian cities. Angel Broking provides trading on the BSE, NCDEX, MCX, F&O, and currencies.

Despite the fact that Angel Broking provided full-service brokerage services and charged its clients a share of their profits for more than 20 years. However, in order to compete with the quickly expanding Share Brokers in India, they switched from a percentage brokerage to flat fees in November 2019.


  • Offers daily reporting on technical and derivative aspects without charging extra.
  • Flat brokerage for trading in derivatives and intraday.
  • Offers loans secured by stock.
  • Despite being a full-service broker, they have low brokerage fees.


In India, Upstox is the most well-known broker. It was founded as RKSV in Mumbai in 2011 and changed its name to Upstox in 2016. Prominent investors, including Mr. Ratan Tata, Kallari Capital, and Tigar Global, have backed them. In a very short period, the company has attracted more than 4 million consumers thanks to its affordable brokerage plan and excellent trading platform.  Upstox charges a fixed fee of Rs 20 per order for trading commodities, currencies, equities, and F&O. Investing in mutual funds and initial public offerings (IPOs) is free of commissions and trading fees.


  • Provides little brokerage depending on the plan type; while investing through Upstox, equity delivery is free.
  • Through Upstox’s platforms, investors may make worldwide investments
  • Direct fund investments are possible, and the platforms provide an intuitive user interface.
Trading Account Opening ChargesZero
Demat AMCZero
Trading AMCFree


India Infoline’s (IIFL) cheap broking division is called 5Paisa. For more than 20 years, IIFL has provided services to the brokerage industry. It is a part of MCX, CDSL, NSE, and MCX. With more than a million active customers, 5Paisa is one of the cheapest Share Brokers in India that is expanding the quickest.

The business offers investing and trading services for stocks, currencies, and commodities. They also provide personal loans and mutual funds. With their premium plans, 5Paisa provides the lowest brokerage in the market at just Rs 10 per order. They additionally offer their clients research and consulting services.


  • Use the 5Paisa App to easily learn to trade.
  • Advanced trading facility software and premium pricing.
  • The app allows margin trading.
  • All trading functions in one place.
  • Shortcut keys for quicker trade execution.
Trading Account Opening ChargesZero
Demat AMCZero
Trading AMCFree

Alice Blue

Located in Bangalore, Alice Blue is a renowned bargain brokerage company. It was founded in 2006. Alice Blue offers services for trading commodities, currencies, and stocks. It provides services for mutual funds as well. In India’s largest cities, Alice Blue has over 1500 partners and over 15 outlets. They now have over 1.5 lakh active clients. Alice Blue provides the Freedom 15 (F15) plan to its clients. 

This brokerage plan is quite simple to comprehend. The brokerage cost for equities intraday, equity futures, and commodity futures under this plan is 15 or 0.05%, whichever is lower. A fixed brokerage fee of Rs 15 is further charged for trading options related to stocks, currencies, and commodities. Also, there is no brokerage cost for stock delivery under this arrangement.


  • Resources on the stock market from prominent Indian traders and investors.
  • Purchase and sell trades easily.
  • Several stock screeners for sentiment analysis and decision-making.
  • Provide analytically based basic and technical techniques.
  • The Trading App, which offers trading and investment classes.
  • Technical charts and current stock prices are easily accessible.
Trading Account Opening ChargesZero
Demat AMCRs.400 per Annum
Trading AMCFree

ICICI Direct

Part of the ICICI Group, a well-known national brand, is ICICI Securities Limited. A well-known division of ICICI Securities, ICICI Direct provides a range of investing options, including stocks, bonds, and mutual funds.

In addition to being one of the most respected banks in the nation, ICICI offers a variety of brokerage services via ICICI Direct. It incorporates cutting-edge technology innovations and features for a flawless user experience. It offers more than fifty distinct products and services, including loans, fixed deposits, NPS, and more.


  • Developing strategies and providing trade management help.
  • Premium plans with various incentives.
  • The platform’s advanced charting capabilities and technical analysis.
  • An equity ATM that, upon the sale of shares, instantly credits the proceeds to the bank account.
Trading Account Opening ChargesZero
Demat AMCRs.300-700 per Annum
Trading AMCRs. 300

Kotak Securities

Another such broker is Kotak Securities, which is a division of the Kotak group. With the launch of its Trade FREE Program in November, a full-service broker by tradition joined the discount brokerage space. Here, they unveiled the first-ever proposal in India: zero commission for intraday training across all segments. The Free Intraday Trading (FIT) strategy is another name for it.

KSL offers zero fees on intraday transactions and Rs. 20 each order for any additional future and options (F&O) trades, covering currency, stock, and commodities, as part of its TRADE FREE PLAN.


  • A distinct area on their website is dedicated to alerts on the derivative market, including put-call ratio, most actively traded contracts, predictions, and puts with the largest premium, etc.
  • A different research part for making calls on intra-day and short-term trading
  • Gain from 0% brokerage on every segment for intraday positions
  • Easily browse and use friendly trading interfaces
  • Make use of a variety of trading tools to assist you in making the right trading choices.
Trading Account Opening ChargesZero
Demat AMCRs.300 per Annum
Trading AMCRs.500 per Annum

Paytm Money

One97 Communications Ltd., the largest and most successful digital products and mobile platform in India, which also controls the Paytm brand, is the parent company of Paytm Money. The RBI has authorized the Indian e-commerce payment platform Paytm. Paytm Money offers its customers free Equity Delivery trading along with competitive trading fees. Paytm Money provides free mutual fund services, meaning there are no costs associated with investing or withdrawing funds.


  • Trading with Free Equity Delivery.
  • Direct mutual funds with no commissions.
  • The maximum brokerage amount for each trade is Rs 20.
  • No upkeep costs.
  • The ability to switch between direct and normal external mutual funds.
Trading Account Opening ChargesRs 200
Demat AMCRs.0
Trading AMCRs 300

Motilal Oswal

Ramdeo Agarwal established Motilal Oswal in 1987; the company’s main office is in Mumbai, India. Committed to overseeing customers’ assets and money, the business also provides investment banking, wealth management, and brokerage services. Investors can benefit more from Motilal Oswal’s strong research team and accessibility throughout all asset classes.


  • Market recommendations and research reports
  • broad presence across the nation
  • advanced trading platforms for traders and investors
  • quick account creation
  • Premium trading platforms 
  • No additional fees for a dedicated advisor
Trading Account Opening ChargesZero
Demat AMCRs.300 per Annum
Trading AMCFree


Search for the Best Stock Broker that provides the following features: competitive brokerage fees, cheap annual maintenance costs, top-notch trading tools, responsive customer support, and no surprise account fees. Additionally, prioritize your trading style and priorities over those of the brokerage company when creating an account.

These days, Discount Stock Brokers frequently launch a new campaign each month to draw in new clients by providing incentives for referring clients, cashback on brokerage transactions, or even zero account opening fees. Brokers are under pressure from each other to develop more quickly and provide more customer service, which enables traders and investors to take advantage of improved trading services and amenities.

FAQs – Best Discount Stock Brokers

1. Are discount brokers secure?

Ans. Because the brokerage business has strict laws in India and depositories, rather than brokers, who are only depository players, hold the equities, discount brokers are safe there.

2. Which broker in India is the best?

Ans. In terms of the trading platform that is provided and the overall quantity of active clients, Zerodha is now the best broker in India. There are also many brokers that are best for you. You can refer to the List of Discount Stock Brokers in India above. 

3. Which discount broker in India is the least expensive?

Ans. With the lowest intraday brokerage fee of just Rs 10 for every trade, Paytm Money provides the most affordable discount brokerage in India.

4. Which full-service or broker is the most reliable?

Ans. Discount brokers are preferable since they have reduced brokerage costs, which can result in significant brokerage savings and higher returns. They also provide a quick and technologically advanced approach to trading platforms.

5. Is it possible to purchase a stock without a broker?

Ans. Yes, you can now buy a stock without the help of a broker.

6. How do discount brokers lower prices?

Ans. Discount brokerage companies could charge significantly less for the same services as typical standard brokers. Discount Stock Brokers do not provide specialist account managers or personalized financial advice, in contrast to full-service brokers. Rather, they provide a basic, uncomplicated trading platform with limited research and advisory services.

7. Who should choose a discount broker?

Ans. Skilled investors seeking to manage their portfolios while minimizing trading expenses quickly select discount brokers. Active traders and long-term investors who wish to reduce trading expenses and have more control over their investment portfolios frequently like them.

8. Which online discount broker should you choose?

Ans. Depending on your financial needs and objectives, a full-service or budget broker may be the better option for you. For self-directed investors who would rather handle their own financial decisions, a discount broker may be appropriate.