Are you still paying brokerage more than what you make in the stock market? If it is so, then switch to discount brokers. This budget broker lets you trade more as the cost is very low.
New to the stock market:
It allows you to save a huge amount of money in the form of a reduction in brokerage costs. Moreover, you can also minimize risk from your trade as soon as you reach break-even. As a trader, you must stay in a trade and exit from it quickly.
Apart from discount brokerage, you can also avail of their advanced trading terminals and apps. You can use these tools very easily and lets you trade anywhere.
Furthermore, you’ll get huge leverage and traders community love leverage. So, what else you need as a stock market day trader. With leverage, you can now trade more and low brokerage lets you pay less. This is really an awesome combination for you.
Get more insight into stock markets:
In fact, I compiled a list of discount brokers in India that you can rely on. Moreover, this list is randomly ordered. So read carefully before you choose any of them to open Demat cum Trading Account.
1. Zerodha – Discount Brokers
Zerodha spearheads the discounted broking model in India with groundbreaking technology. It has been founded in 2010 and helps traders and investors to cut down brokerage costs.
Its awesome pricing models and in-house technology made it one of the largest and cheapest share broker in India.
Moreover, it has a huge client base and one of the largest by trading volumes.
In addition, with over one million clients contributes more than 10% among retail trading volumes.
Several million orders are executed on a daily basis through the Zerodha platform.
Zerodha discount brokers in India charges you only Rs. 20 or 0.01% whichever is lower per executed order on intraday trades.
It doesn’t matter whether you trade-in equity, currency, or commodity. Moreover, your equity delivery brokerage is absolutely free of charge.
You can also invest in mutual funds through Zerodha coin without any hassle.
AliceBlue is India’s online stock broker that provides you the lowest brokerage fee. Its brokerage plans are tailored your every need at a nominal cost.
You need to subscribe to AliceBlue for paying brokerage. Its brokerage plans are based on a subscription model. At the moment, it provides you a Freedom Plan and T20 Plan.
In Freedom Plan, you can choose a plan that suits your trading style and requirements. For 1 year subscription, you need to pay Rs. 5555. For a 5 years plan, the brokerage charge is Rs. 9999. You can also choose a 10-year subscription plan that costs you Rs. 14999.
You can place unlimited trade with the above subscription plan.
In the T20 plan, you’ll get a lifetime validity at a cost of Rs. 20 per trade.
3. Upstox (RKSV)
Upstox is another online stock broker with fast, reliable & easy-to-use trading platforms. You can choose a brokerage plan that suits your needs.
It provides you up to 25x margin for intraday trading. As there is zero brokerage fee so your equity delivery trading cost you nothing. However, you’ll be charged a brokerage of Rs. 20 or 0.01% whichever is low per order for day trading.
Moreover, you can leverage your shares held in your Demat account. You’ll be allowed to use this margin against shares to buy new shares.
Furthermore, you can use Upstox Pro web & mobile platforms for free. Once you’re ready to place a trade, then you can open an account with Upstox. You can use the trading software without any fee.
4. Samco Discount Brokers
Samco is one of India’s leading online discount brokers which offers flat fee at Rs. 20 per transaction. If your trade is of small volume, then the brokerage charge will be 0.2% for delivery and 0.02% for intraday trading or Rs. 20.
Irrespective of any segment, you will pay Rs. 20 pay per order brokerage. Whether you trade-in equity, future & options, commodity, and currency.
In equity intraday trading margin limits, you’ll get up to 33x and 80x in futures depending on the product type. Moreover, it allows you to get 60x in commodity futures and 100x in currency futures.
However, you won’t get any margin limits in options trading and it only allows 2x in Intraday option writing.
5. Astha Trade
Astha Trade is a 2-decade old budget broker empowering thousands of traders and investors. It provides you awesome and unmatched margin along with the lowest brokerage plans.
Presently, you can opt for either its Margin Plan or Per Order Plan.
In the Margin plan, you need to pay 0.01% as brokerage on turnover. Moreover, the margin required is only Rs. 5000 for Nifty and BankNifty Futures.
In Pay Per Order Brokerage Plan, you will be charged a flat Rs. 20 per lot. However, you need to have a minimum margin of Rs. 15000 for Nifty and BankNifty Futures.
Overall, it gives you exposure about 40x on Intraday trading in NSE equity and 66x on futures trading in NSE and MCX. Furthermore, it also provides you 10x on NSE equity delivery and 7x on NSE options.
6. Trade Smart Online
Trade Smart Online is one of the fastest-growing discount brokers in India. It offers you a simple and transparent brokerage plan with no hidden costs. All you need is to select its value plan or a power plan as per your trading style.
If you’re a high volume traders, then opt for Big Volume Traders plan or Power plan. In this plan, you’ll pay only Rs. 15 per executed order. You don’t need to worry about the size of the trade.
Moreover, you’ll also get day trading exposure around 30x on equity, 7x on F&O, 3x on Currency, and 6x on Commodities.
7. RK Global
RK Global is one of the top retail discount brokers that operate in NSE, BSE, MCX, and NCDEX. It provides you with two separate plans for brokerage.
One of the plans is India Trades @ 999 per month. If you trade a lot, then this plan is best for you. You can trade unlimited by paying only Rs. 999 per month. So, this plan lets you save huge money on brokerage.
The other plan is known as Super 9 where you’ll be charged a flat Rs. 9 per executed order. Actually, it doesn’t matter the size of your traded value. Just pay Rs. and chill out that allows you to trade more by paying less.
Apart from the above two plans, you need to pay software maintenance charges. Perhaps that’s the only one charge I really don’t like about RK Global.
8. SAS Online
SAS Online is an online discount stock broker that allows you to trade in stocks, f&o, and commodities.
Its brokerage plans are a bit similar to RK Global. In fact, they also charge you a flat fee of Rs. 9 per executed order in every segment. Irrespective of the trade size, you can trade across equity, commodity, and currency.
You need to pay a flat fee of Rs.9 or 0.01% whichever is lower if you do Intraday trading. In case of delivery trading, you need to pay a flat fee of Rs. 9 or 0.1% whichever is lower.
Another plan is a 999 unlimited monthly plan. This plan lets you trade unlimited by paying Rs. 999 per month. You can trade across NSE Cash, BSE Cash, and NSE F&O with zero brokerage costs.
Moreover, you don’t need to pay a single penny for software charges.
ProStocks lets you trade with Rs. 15 per executed order. You can use its easy to use the trading terminal at no extra cost. Moreover, you can trade unlimited shares without any set-up fees. Even, you won’t charge any fees for non-maintenance and inactive account.
It provides you with 3 brokerage plans that suit your trading goals. You can opt for a flat fee of Rs. 15 per executed order.
ProStocks lets you choose a monthly brokerage plan. It cost you only Rs. 899 in equity and equity derivatives and Rs. 499 in currency derivatives.
Moreover, its yearly plan is just awesome. All you need is to pay Rs. 8,999 in cash & f&o segment and Rs. 4,999 in the currency segment per year.
Apart from competitive brokerage offering, ProStocks allows you to use its trading software absolutely free.
TradeJini offers you to trade in equity, f&o, currency, and commodity. As it is also one of the discount brokers, so your traded value of the transaction doesn’t matter.
You’ll have to pay just Rs. 20 per executed order or 0.01% of turnover whichever is lower. These charges are the same for across all the segments.
So, all you need to pay is Rs. 20, whether you trade in stocks, futures, options, currency, or commodity. Furthermore, in delivery trading, your brokerage charges are also the same.
11. Fyers Securities
Fyers Securities is one of the cheapest stock brokers in India. Its brokerage structure is very simple and offers you a flat fee of Rs. 20 per executed order or 0.01% on turnover. After calculation of brokerage, you’ll pay whichever is lower.
Moreover, the flat fee doesn’t impact your order size. Whether you trade for a single stock or one thousand stocks, you’ll pay only Rs. 20. In fact, you can trade in all the segments like futures, options, currency, and commodities for a small fee.
Fyers offers you up to 16x leverage in equity day trading. However, BO and CO margins are above 30x.
MyValueTrade provides you awesome and the cheapest brokerage trading platforms. You can trade in all the segments including equity, f&o, currency, and commodity.
It lets you trade with the lowest brokerage of Rs 10 per executed order in India. You don’t need to worry about the turnover or the order size.
13. Trading Bells Discount Brokers
Trading Bells lets you invest without paying you a single penny. You don’t need to pay any brokerage on all your delivery trades.
Moreover, you’ll be charged Rs. 20 or 0.01% whichever is lower per executed order in day trading. These charges are valid for equity, commodity, and currency segments.
14. Beeline Broking
Beeline broking is an online and one of the cheapest discount brokers in India. It lets you trade in NSE, BSE, MCX, and NCDEX exchanges across all segments.
It offers you two brokerage schemes to choose. One of them is the flat fee per executed order and the other one is the traditional Plan.
If you choose a flat fee per order plan, then you’ll have to pay Rs. 20 per executed order. However, in the traditional plan, the brokerage will be calculated on the margin you used. You can negotiate with them if your trading volume is high to lower brokerage charges.
15. TradePlus Online
TradePlus Online provides you with the lowest refundable brokerage plans. You need to pay just Rs. 99 per month for all the segments except in equity futures.
So, if you want to trade-in equity futures, then you need to shell out a flat fee of Rs. 799 per month. However, you don’t need to pay a single penny for equity delivery.
Moreover, equity day trading also costs you a very lower brokerage of 0.01% on turnover. What is good about TradePlus Online is, your monthly fee will be carried forward to the next month.
That means if you do not trade for a particular month, then your monthly fee will be refundable to the next month. Apart from the low brokerage rate, you may also enjoy day trading margin of 10x on MIS and 33x for cover order.
16. Wisdom Capital
Wisdom Capital is one of the online stock discount brokers. You need to pay the lowest brokerage charges across all segments. It provides you an awesome online and offline trading plans.
Presently, it offers you three brokerage plans depending upon your trading style. In fact, Wisdom Capital brokerage charges are very low and competitive.
If you love to trade more, then you can opt for Freedom Plan. It allows you to trade unlimited without paying any fee.
Its Pro Plans are a good option if you’re a professional trader. Pro Plans offers you high intraday exposures up to 40x in equity and 6x in futures.
Wisdom Capital’s Ultimate Plan lets you to trade with highest day trading margins and also on your delivery trades. Here, you’ll get a margin up to 60x in cash and 10x in futures.
17. Achiievers Equities
Achiievers Equities provides you many brokerage plans. However, I like its flat fee of Rs.15 per executed order irrespective of the value of your trade.
You can trade-in equity, futures & options, currency, and commodity. Whether you do intraday or delivery based trading, the fee will remain the same.
Apart from the above plan, Achiievers Equities also provides you an MVP Plan of Rs. 750 and Rs.50 Per Day Plan. This plan lets you trade an unlimited number of times.
5paisa.com is one of the top discount stock brokers in India. It is backed by IIFL and has over 2.9 million happy customers across various business segments.
It gives you an awesome investing experience at an unimaginably low cost. You can trade in stocks, f&o, and currencies at a very low cost of Rs. 10 per trade. 5paisa lets you save more than 90% on your brokerage cost.
Apart from that, you can also directly apply for IPO or Initial Public offer through its portal.
19. Raghunandan Money (RMoney)
Raghunandan Money or RMoney lets you place your trade at a cost of Rs. 18 per executed order. You don’t need to worry about volumes or segments.
Even, your investment will not cost you a single penny. Apart from that, you can also choose its Happy Service Plan. In this plan, you will be charged customized brokerage depending upon customized services.
iTradeOnline is one of the discount brokers in India that provides you a very simple and lowest brokerage plan. It allows you to trade with Rs. 20 per executed order or 0.01% on your turnover.
You can trade on NSE, BSE, and MCX. Its CO option lets you enjoy 1 lot of Nifty at Rs. 1350 & 1 lot USDINR at Rs. 350 only. Moreover, you’ll get an intraday margin up to 20x in equities, 2x in NSE F&O and currency, and 8x in MCX futures.
I have listed out only 20 of the best online discount brokers in India in this post. However, there are many more online stock brokers. You can compare discount brokers vs full-service brokers to get the idea of what benefit you’ll have.
If you know any other discount brokers, then do comments below. In fact, these brokerage firms are the best for beginners.
I hope you guys like this post on the cheapest brokerage firms.
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Published on: Oct 30, 2018