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Top 10 Discount Stock Brokers in India 2020


Top 10 Discount Stock Brokers in India 2020

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 Stock brokers in India are classified in two types on the basis of services they offer:
  • 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.

Various discount brokers have different services and plans that suits the need of the customers. Like Prostocks offers a fixed monthly unlimited trading plan to its customers which allows them to trade unlimited time in a month for a fixed monthly cost.

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.
Top 10 Discount Stock Brokers in India 2020
Rank Broker Active Clients Demat AMC Brokerage Request Callback Review
1 Upstox 1633678 300 Rs 20 per executed order or 0.05% whichever is low Open Account Review
2 ICICI Direct 1278987 700 ₹ 20 / Executed Order Open Account Review
3 Angel Broking 1231392 450 ₹ 20 / Executed Order Or 0.25% (Whichever Is Lower Open Account Review
4 HDFC securities 735411 750 ₹ 20 / Executed Order Or 0.01% (Whichever Is Lower Open Account Review
5 Paytm Money 685610 300 ₹ 10 / Executed Order Or 0.05% (Whichever Is Lower Open Account Review
6 Sharekhan 683101 400 ₹ 50 / Lot Open Account Review
7 Motilal Oswal 637541 0 ₹ 10/ Executed Order Or 0.01% (Whichever Is Lower Open Account Review
8 Groww 585630 0 ₹ 20 / Executed Order Or 0.05% (Whichever Is Lower Open Account Review
9 Kotak Securities 497021 600 ₹ 20 / Executed Order Or 0.05% (Whichever Is Lower Open Account Review
10 Axis Direct 426411 650 ₹ 15 / Executed Order Or 0.01% (Whichever Is Lower Open Account Review
11 5Paisa 409631 350 ₹ 20 / Executed Order Open Account Review
12 IIFL Securities 237499 400 ₹ 25 / Executed Order Or 0.02% (Whichever Is Lower Open Account Review
13 Marwadi Shares 99970 450 ₹ 20 / Executed Order Or 0.03% (Whichever Is Lower Open Account Review
14 Fyers 30680 350 ₹20 per executed order or 0.03% (Whichever is low Open Account Review
15 ProfitMart 17620 0 ₹ 15 / Executed Order Or 0.01% (Whichever Is Lower Open Account Review
16 Zebu Trade 16839 450 ₹ 20 / Executed Order Or 0.01% (Whichever Is Lower Open Account Review
17 Prostocks 3769 0 0.02% or ₹20 whichever is higher Open Account Review