Best Discount Brokers in India [updated list 2019]

best discount brokers in india

Do you want to know which are those best discount brokers in india, wherein you could save a brokerage fee and thus saving extra money in your pocket with every trade. If yes! Then you are at the right blog post.

Discount broking which was regarded as a growing industry in India, is currently gaining a pace and is soon expected to be on par with full service broking before gaining a vast majority share of the marketplace.

However, in a sea of available discount brokers to choose from, it is important to assess the best discount brokerage platform available in India as per your needs.

We, therefore, bring a curated list of the best online discount brokers in India that lists down the key highlights and features of the services offered by them.

Before we indulge, it is important to first look into what a discount broker is.

What is a Discount Brokers?

A discount brokers are the  online stock broking platform who facilitate buying  and selling orders at a discounted prices. However, they don’t advise to buyers and sellers like full service brokers do.

They merely provide a trading platform to investors and don’t impart any real advice. They charge a commission for this service which is ordinarily just a fraction of what one pays a full-time broker.They might charge you a combination of a per-trade fee, coupled with a monthly fee for their services.

Contrary to popular belief, brokers don’t own the securities that they sell or buy, but merely service them for investors who intend to.

In terms of the stock market, most of the discount brokerage platforms are operated online. As a result, Discount brokers are synonyms with Online brokerages.

Now that you have a clear idea of what a discount broker is, let’s dive into the best discount brokers in India 2019

Top discount brokers available in India


Zerodha is a common household name for being a trailblazer in the broking revolution in India.

It is known to have introduced discount broking in India, which speaks volumes about its experience in the industry. It brought about a fresh turn in the history of broking by charging a flat rate of Rs. 20 per trade, irrespective of the volume of such a trade. Its fee breakage is as follows:

  • It charges zero brokerage for Equity Delivery
  • It has a flat rate of Rs. 20 for Equity Options
  • Its Equity Intraday or Futures fee is 0.01% or Rs. 20, whichever is lower

SAS Online

Started by a couple of young founders, SAS Online is the discount broker of today that aims at flexibility and convenience and breaks thresholds by lowering fee charges.

Customers have the option of choosing this service from multiple formats like mobile phones, desktops, or web versions. SAS Online promotes MCX or Equity Commodity as well as Currency Trading. 

It offers one of the most competitively unbeatable and low charges for its service, which is a mere Rs. 9 per trade, throughout multiple segments which is a steal in comparison to other brokers in India.

If you are a heavy trader who has more voluminous trades going on, SAS Online provides you with a monthly plan for Rs. 999 or Rs. 499, with unlimited transactions and no extra costs. 


This brokerage service has the backing of the financial giant, India Infoline (IIFL). The support of a public limited company brings a sense of security that customers yearn in this industry, and apart from providing broking, one can access manifold services from their portals online.  

It strives to bring the best client in touch with its customers. Customers can also avail of health or car insurance through 5Paisa. 5Paise additionally provides advisory services, which sets it apart from most other brokers and explains its high rankings.

It charges a flat rate of Rs. 10 for every successful trade across equity segments like Equity F&O, Delivery, and currency F&O. 


Samco Securities provides customers with excellent online brokering services. Customers can trade in Commodities, F&O, Currencies, etc. It provides the highest product quality for trade at whopping discounts.

Samco supports trading on BSE, NSE MCX, and MSEI. It is a versatile service that is accessible on multitudinous platforms through its varied versions like Samco Star for office use, Algorithmic trading for heavy traders, Samco applications for mobile users, available on iOS as well as Android, and Samco web portals.

Samco charges customers a flat rate of Rs. 20 or at 0.02% of the trade, whichever is lower across segments, with no surprise costs.


Upstox is backed by Ratan Tata and Kalaari Capital, which results in a high popularity for this service. Their list of traders is not exhaustive and travels beyond these.

It has gone paperless with its Demat account and trading platform. It also offers a mutual funds platform that is worthy of a glance. Upstox allows you to trade Commodities, currencies, intraday, and F&O among other kinds.

Upstox is also available and accessible on mobile phones, desktops, and web portals. Upstox also charges a flat rate of Rs. 20 per trade for all its customers with no additional hidden costs.  

Wisdom Capital

Wisdom Capital is a rapidly growing booking service, that has managed to make its space in the list of top discount brokers in India with its user-friendly automated online investing platform, that makes customers flock to it.

It supports trading on NSE, NCDEX, BSE, and MCX. One can trade in stocks and futures on these platforms through various plans that suit all kinds of needs. Some of their best plans include:

  • Pro Plan: This plan targets professional traders with 0.005% NSE equities for intraday and delivery. Brokerage in MCX, options, and NSE is available at a flat rate of Rs.9 per trade.
  • Freedom Plan: It offers zero brokerage across all segments with no exposure. 
  • Ultimate Plan: It offers 0.007% for Intraday & delivery, 0.005% NSE futures, commodity, and currency trading at MCX and Rs.15 for options.

Pro Stocks

Pro Stocks is run by committed founders with a long trajectory of experience in broking industry, which allows customers to trade in currencies and equity on their platform.

Their platform offers customers to choose from their mobile application, a desktop version and a web portal for trading. They also come up with offers frequently. Pro Stocks offers a brokerage of flat Rs. 15 per trade.

They additionally offer monthly and annual packages at varied prices that cover unlimited trades, but these are only beneficial to high volume traders who trade several times a month or year. 

Trade Smart Online

Trade Smart is another service that offers low brokerage for traders and is a branch of VNS Finance. It has a list of brokerage plans to choose from, some of the most popular ones are:

  • Power Trading Plan: It charges a flat rate of Rs. 15 per trade, irrespective of whether the trade gets executed. This is ideal for low-frequency traders.
  • Value Trading Plan: Brokerage for Currencies, Commodities, and Intraday is 0.007% and 0.07% is for delivery.

Trading Bells

This is a coming of age discount broking service that is available on desktops, web versions and through mobile applications. Trading Bells allows you to trade in commodities, currency as well as equity.

If you have an Aadhar Card, opening a new account on their platform will take you a mere 15 minutes. They charge zero brokerage for Equity Delivery, Equity Intraday and Future rates are at 0.01% or  Rs. 20, whichever is lower, and Rs. 20 flat for Equity Options. 


The list of top discount brokers India has seems incomplete without including RKSV.This is because it is the only trading platform that has a provision for NRIs to trade.

As a result of this unique service, their charges for NRIs are comparatively pricier, but they otherwise charge a flat rate of Rs. 20 per trade.  It is available on mobile applications, web versions as well as desktops. 

We live in a golden era for trading purposes. In such an era where trading platforms are increasingly becoming accessible and competitive, it is important to determine the minor points of distinctions between them, that will help you separate one service from another on the basis of your priority and profits.

The different leverages provided across various segments by these brokers ought to be assessed by customers before venturing into the enticing world of discount broking.

Be the first to comment

Leave a Reply

Your email address will not be published.


This site uses Akismet to reduce spam. Learn how your comment data is processed.