Top 10 Discount Stock Brokers in India 2023
A fully updated and authentic list of the top ranked discount brokers in India 2020 is determined by the number of active clients on a yearly basis. Zerodha is the top ranked and most famous discount stock broker in India. The other discount stock brokers such as 5paisa, Upstox and Samco comes after Zerodha but comes under the top 10 list.
The top rankers in this list have earned the trust and gained more than 1 lakh active customers. The year list of the top 10 discount stock brokers in India helps the newbie in the market to make a wise and best choice for them.
The brokers in India are divided on the basis of service they provide and the fees they charge. The two types of brokers are:
- Full-Service Broker.
- Discount Broker.
The discount brokers or flat fee brokers are mostly the online stock brokers that provides minimum cost brokerage services to their customers. Such brokers more focus on providing the latest technology to their customers so that the operation cost remains minimum. Some of the discount stock brokers provide additional services to their customers such as research and advisory i.e. trading tips, relationship manager, PMS, Wealth Management and local branch support to its customers.
The discount brokerage company charge over 60% less brokerage than the full-service brokers. They offer their trading software for free to all the customers or makes affordable plans to provide these advanced services.
Further, most of the discount stock brokers such as Zerodha and Upstox facilitates their customers with brokerage free equity delivery trading and direct mutual fund services. On the other hand, they tend to charge a flat rate brokerage of ₹ 20 per executed order irrespective of the size in all the segments.
Zerodha is on No. 1 among the list of most famous discount broker with over 10 lakh customers. It is among the most famous broker in India providing excellent product and services to its customers.Points to Remember:
- The data for this report is collected and compiled by the nation stock exchanges i.e. BSE and NSE.
- The data and information for the best broker ranking is updated each month.