Top 3 Discount Brokers in India – Best Share broker

Trading stocks in India is increasingly popular both in India and abroad because of its economy seventh in the world in nominal GDP. Stocks Trading in India can be quite profitable with its two major stock exchanges and a wide selection of member firms, as long as you choose the right broker. Not all brokerages offer the same features, so make sure to carefully consider your needs before you open an account. All stock exchanges in India are overseen by the Securities and Exchange Board of India (SEBI). India’s two principal stock exchanges, the NSE and BSE, both follow the same clearing and settlement process and have the same trading mechanism and trading hours. Most Indian securities are listed on both exchanges which provide liquidity as the exchanges compete for order flow. In India there are primarily two types of stock broker in India popular among traders and investors – Discount Broker and Full Service or Traditional Broker. If you are a new trader or investor you need to know particularly about both the services provided by the brokers. So let’s discuss about them.

1. Traditional broker - A traditional broker or full-service broker is a licensed financial broker-dealer firm that provides a large variety of services to its clients, including research and advice, retirement planning, tax tips, and much more. Of course, this all comes at a price, as commissions at full-service brokerages are much higher than those at discount brokers. Full-service brokers can provide expertise for people who don't have the time to stay up-to-date on complicated issues such as tax or estate planning; however, for those who just want to execute trades without the extra services, discount brokers are the way to go.

2. Discount broker – The ones looking for cost-conscious investment or trading Discount broker is the option for them. They generally doesn’t offer any investment advice although in some cases offer free best research broker in India and educational tools to help the investors make beneficial investment decisions. Discount broker in India comes in varies shapes and sizes; some are better than others in charges and basic brooking services provided. They help to perform a trade web automated through a computerised trading system or through call via phone with the broker.

#Note: If you are looking for brokerage firm be it traditional or discount broker there is no ideal choice, it majorly depends upon on one’s personal needs. The cost as well as the services and features provided by the broker are to be look into accordingly by the investor.

Top 3 Discount Brokers in India.

1.                    Zerodha broking limited – Zerodha gave birth to the discount broking segment, introducing the concept of broking discount broking in the year 2010. The term ‘Zerodha’ refers to no Barrier Zero (Nil) + Rodha (Barrier). Zerodha is principally known as the largest discount broker and 3rd largest stock broker in India preceded by ICICI Direct and HDFC Securities. There are various reasons why Zerodha is a leader

– low brokerage, great exposure and 100% web-based broker. Zerodha brought up a first of its kind brokerage model attaining a new level of success since then. It had its own way of giving clients a winning edge in stock trading market with sophisticated technology, great trading tool and three way trading platform. An investor can trader on Commodities and Currency Derivates at just Rs. 20 per order. Now Zerodha is considered as the top discount broker in India.

CUSTOMER RATINGS

CRITERIA

RATINGS (10)

STOCK RESEARCH & ADVISORY

9.6

BROKERAGE CHARGES

9.5

PRODUCT AND SERVICES

9.4

TRADING PLATFORM

8.5

BROKING EXPERIENCE

8.7

OVERALL RATINGS

9.14

STAR RATINGS

2.                    Upstox (RKSV) – After Zerodha another big name in the field of discount brokers is Upstox. Upstox or RKSV opened itself to offering retail brokerage services. RKSV launched India’s first online-only unlimited trading plan for its users and began the disruption of the brokerage industry of that era. Ever since then, discount brokers have been rapidly gaining popularity all over the country. The firm is backed by Kalaari Capital, GVK Davix and none other than Ratan Tata. An investor can trader on Commodities and Currency Derivates at just Rs. 20 per order. Upstox has its own platform Upstox Pro Web where it allows the traders and investors to trade safe and sound. It also offers NRI trading and investment in Mutual Funds.

CUSTOMER RATINGS

CRITERIA

RATINGS (10)

STOCK RESEARCH & ADVISORY

BROKERAGE CHARGES

PRODUCT AND SERVICES

TRADING PLATFORM

BROKING EXPERIENCE

OVERALL RATINGS

STAR RATINGS

3.                    5 paisa – At beginning of 5Paisa this discount broker was acquired by IIFL. Now this discount broker has been listed as an individual entity at BSE and NSE in 2017 and works as a separate entity broker now. Pretty much in line with some other discount brokers, 5 paisa also provides trading through Desktop, Browser and mobile-based applications.