List of Brokers

Top 10 Discount Stock Brokers in India 2024 - 2025

Everyone is interested in investing in the Stock market, there are large numbers of discount brokers these days, but one doesn’t know where to invest their valuable money in, they choose a discount broker that doesn’t align with their needs, eventually making them lose their valuable money, so choosing a right broker is essential to maximize your returns and minimize the fees.

What is Discount Broker?

Discount brokers provide and allow a cost effective and proven way for traders to invest or conduct trades in the stock market. A discount broker is a mediator who executes your trades i.e your list of trades that are bought and sold. Discount brokers provide specific types of investors who are comfortable to conduct their own research to make independent investments.

 

Feature/BrokerEquity DeliveryEquity IntradayEquity F&OAccount OpeningAMCPlatformsSupportActive Clients
Zerodha₹0₹20 or 0.03%₹20/order

₹200

Open Account

₹300/year Kite, Console, Coin Phone, Email 6 million+
Upstox₹0₹20 or 0.05%₹20/order

₹249

Open Account

₹300/year Upstox Pro, Dartstock, NEST Phone, Email, Chat3 million+
AngelOne₹0₹20/order ₹20/order₹0 (limited offer)
Coming Soon		₹240/yearAngel Broking App, Angel BEE, Angel SpeedPro
Phone, Email, Chat2 million+
5Paisa₹20/order₹20/order₹20/order₹0
Coming Soon		₹540/year5paisa Trader Terminal, 5paisa Mobile App, Trade Station</span > Phone, Email, Chat1.5 million+
Groww₹20/order or 0.05% ₹20/order or 0.05%₹20/order₹0
Coming Soon		₹0/yearGroww App, Groww Web Platform Phone, Email, Chat1.2 million+
ProStocks₹0₹15/trade ₹15/trade₹0
Coming Soon		₹0ProStocks Trading Platform Phone, Email100,000+
PaytmMoney₹0₹10/order ₹10/order₹0
Coming Soon		₹0Paytm Money App, Paytm Web Platform
Phone, Email700,000+
Dhan₹0₹20/order ₹20/order₹0

Open Account		₹0Dhan App, Dhan Web Platform Phone, Email200,000+
Fyers₹0₹20/order ₹20/order₹0

Open Account		₹300/yearFyers One, Fyers Markets (mobile), Fyers Web
Phone, Email, Chat500,000+
AliceBlue₹0₹15/order ₹15/order₹0

Open Account		₹400/yearANT (web and mobile), NEST Phone, Email, Chat1 million+
Finvasia₹0₹0 ₹0₹0
Coming Soon		₹0Shoonya (web and mobile) Phone, Email300,000+

Key Factors to Consider When Choosing an Indian Discount Broker

  1. Brokerage Fees
    • Equity Delivery: Charges for buying and holding stocks.
    • Equity Intraday: Charges for buying and selling stocks on the same day.
    • Futures and Options: Charges for trading in derivatives.
  2. Account Opening and Maintenance Fees
    • Account Opening Fees: One-time charges to open a trading and Demat account.
    • Annual Maintenance Charges (AMC): Yearly fees for maintaining the Demat account.
  3. Trading Platforms and Tools
    • User Interface: Ease of use and navigation.
    • Research and Analysis Tools: Availability of market data, research reports, and analysis tools.
  4. Customer Support
    • Availability: Support hours and modes (phone, email, live chat).
    • Quality: Responsiveness and effectiveness of customer service.
  5. Mobile App
    • Functionality: Features and performance of the mobile trading app.
    • User Reviews: Feedback from other users regarding the app’s reliability and usability.

Reviews

1. Zerodha

Zerodha is the largest and most reputed stockbroker in India, known for offering comprehensive online flat fee discount brokerage services. Whether you want to invest in Equity, Currency, Commodity, IPO, Futures & Options, Bonds, Govt. Securities, or Direct Mutual Funds, Zerodha provides a robust platform with transparent pricing and advanced tools.

Brokerage Charges

  • Equity Delivery Trades: ₹0 brokerage
  • Direct Mutual Funds: ₹0 brokerage
  • Intraday and Futures Trades: ₹20 or 0.03% per trade (whichever is lower)
  • Options Trades: ₹20 per executed order
With Zerodha, the maximum brokerage you pay for any transaction is ₹20, regardless of the trade size, amount.

Key Strengths

  • Largest Stockbroker: Leading by active clients, market volume, and new customer acquisition.
  • Safety and Reliability: One of the safest, most reliable, and trustworthy brokers in India.
  • Advanced Trading Tools: Offers some of the most advanced online trading tools in the market.
  • Low Brokerage Fees: Zero brokerage fees for equity delivery and mutual funds, and a maximum of ₹20 per trade for other segments, ensuring significant savings.
  • High Leverage: Offers up to 20x leverage on intraday trading.
  • Zero Commission Mutual Funds: Provides direct mutual funds with no commission.
  • Versatile Investor Suitability: Suitable for active and passive investors, beginners, active traders, and algo traders.

Pros and Cons

Pros:
  • Low Brokerage Fees: Extremely competitive pricing with zero brokerage on equity delivery and low fees on intraday and F&O trades.
  • Advanced Trading Platforms: User-friendly and feature-rich platforms like Kite and Coin cater to different trading and investment needs.
  • Educational Resources: Comprehensive educational content through Varsity helps traders and investors enhance their knowledge.
  • Transparency: Clear and transparent fee structure with no hidden charges.
  • Large Client Base: Trusted by over 6 million active clients, indicating reliability and trustworthiness.
Cons:
  • Customer Support: Response times can be slow during peak trading hours.
  • Limited Branch Presence: Primarily an online broker with limited physical branch presence, which might be a concern for those preferring in-person support.
  • Technical Glitches: Occasional technical issues and downtime, though these are relatively infrequent.

2. Upstox

Upstox, a prominent discount broker in India, offers a range of online trading services in Equity, Currency, Commodity, IPO, Futures & Options, and Mutual Funds. Known for its low-cost brokerage model and advanced trading platforms, Upstox has become a popular choice among traders and investors.

Brokerage Charges

  • Equity Delivery Trades: ₹0 brokerage
  • Equity Intraday Trades: ₹20 or 0.05% per trade (whichever is lower)
  • Futures Trades: ₹20 per executed order
  • Currency and Commodity Trades:₹20 per executed order
  • Futures Trades: ₹20 per executed order
Upstox’s pricing ensures that the maximum brokerage paid for any transaction is ₹20, regardless of the trade size or amount.
 

Key Strengths

  • Large Client Base: One of the largest stockbrokers by active clients and market volume.
  • Advanced Trading Platforms: Offers powerful tools and platforms for a seamless trading experience.
  • Low Brokerage Fees: Competitive pricing with zero brokerage on equity delivery and a flat fee for other segments.
  • High Leverage: Provides up to 20x leverage on intraday trading.
  • User-Friendly Interface: Intuitive and easy-to-use platforms suitable for both beginners and experienced traders.
  • Diverse Investment Options: Offers a wide range of investment products including stocks, mutual funds, commodities, and currencies.
 

Pros and Cons

Pros:
  • Low Brokerage Fees: Extremely competitive pricing with zero brokerage on equity delivery and low fees on intraday and F&O trades.
  • Advanced Trading Platforms: User-friendly and feature-rich platforms like Upstox Pro and Dartstock cater to different trading needs.
  • High Leverage: Offers significant leverage for intraday trading.
  • Diverse Investment Options: Provides a wide range of investment products, including stocks, mutual funds, commodities, and currencies.
  • User-Friendly Interface: Platforms are intuitive and suitable for traders of all experience levels.
Cons:
  • Customer Support: While generally good, there have been occasional complaints about response times during peak trading hours.
  • Technical Glitches: Occasional technical issues and downtime, though these are relatively infrequent.
  • Limited Research and Advisory Services:  Focuses more on providing a cost-effective trading platform rather than extensive research and advisory services.
 

3. Angel One (formerly Angel Broking)

Angel One (formerly known as Angel Broking) is one of the leading full-service stockbrokers in India, offering a wide range of financial services including online trading, investment advisory, portfolio management, and more. With a blend of traditional and digital services, Angel One caters to both retail and institutional clients.

Brokerage Charges

  • Equity Delivery Trades: ₹0 brokerage
  • Equity Intraday Trades: ₹20 per executed order
  • Futures Trades: ₹20 per executed order
  • Options Trades: ₹20 per executed order
  • Currency and Commodity Trades: ₹20 per executed order
Angel One’s pricing structure ensures cost-effectiveness for traders and investors, with zero brokerage on equity delivery trades and a flat fee for other segments.
 

Key Strengths

  • Wide Range of Services: Offers a comprehensive suite of financial services, including equity, F&O, currency, commodities, mutual funds, IPOs, and portfolio management.
  • Advanced Trading Platforms: Provides robust trading platforms with advanced features and tools.
  • Strong Research and Advisory Services: Known for its strong research and advisory services, offering valuable insights and recommendations to clients.
  • Extensive Branch Network: Has a wide network of branches across India, providing personalized services.
  • User-Friendly Interface: Platforms are designed to be intuitive and easy to use, catering to both beginners and experienced traders.
 

Pros and Cons

Pros:
  • Comprehensive Financial Services: Offers a wide range of services, making it a one-stop solution for all financial needs.
  • Strong Research and Advisory: Provides valuable research and advisory services to help clients make informed investment decisions.
  • Advanced Trading Platforms: User-friendly and feature-rich platforms cater to different trading needs.
  • Extensive Branch Network: Offers personalized services through a wide network of branches across India.
  • Competitive Brokerage Fees: Zero brokerage on equity delivery and low fees for other segments.
Cons:
  • Complex Fee Structure: While brokerage fees are competitive, other charges (like transaction fees) may be higher compared to some discount brokers.
  • Technical Glitches: Occasional technical issues and downtime, though these are relatively infrequent.
  • Customer Support: Although generally good, there have been occasional complaints about response times during peak hours.
 

4. 5paisa

5paisa is a prominent name in the Indian brokerage industry, offering a simplified and cost-effective platform for trading and investing in various financial instruments. Here’s an in-depth review of 5paisa:

Brokerage Charges

  • Equity Delivery Trades: ₹20 per trade
  • Equity Intraday Trades: ₹20 per trade
  • Futures Trades: ₹20 per trade
  • Options Trades: ₹20 per trade
  • Currency and Commodity Trades: ₹20 per trade
5paisa maintains a flat fee structure across all segments, ensuring simplicity and cost-effectiveness for traders and investors.
 

Key Strengths

  • Affordable Pricing: Offers one of the lowest brokerage fees in the industry, with a flat rate across all segments.
  • Comprehensive Services: Provides trading and investment services in Equity, F&O, Currency, Commodities, Mutual Funds, and IPOs.
  • Advanced Technology: Employs cutting-edge technology to deliver seamless trading experiences through user-friendly platforms.
  • Educational Resources: Offers educational content and tools to help investors make informed decisions.
  • Zero Demat AMC: Does not charge an annual maintenance fee (AMC) for the Demat account.
 

Pros and Cons

Pros:
  • Low Brokerage Fees: Flat fee structure across all segments, ensuring cost-effectiveness.
  • User-Friendly Platforms: Intuitive and advanced trading platforms accessible across devices.
  • Comprehensive Services: Offers a wide range of financial products and services, including mutual funds and IPO investments.
  • Educational Resources: Provides tools and resources for investor education and decision-making.
  • No AMC Charges: No annual maintenance charges for the Demat account.
Cons:
  • Limited Research: Compared to full-service brokers, may offer fewer research and advisory services.
  • Customer Support: While generally efficient, response times during peak trading hours may vary.
 

5. Groww

Groww has emerged as a popular online investment platform in India, offering a user-friendly interface and simplified investment options across various financial instruments. Here’s an in-depth review of Groww:

Brokerage Charges

  • Equity Delivery Trades: ₹20 per trade
  • Equity Intraday Trades: ₹20 per trade
  • Future Trades:₹20 per trade
  • Options Trades: ₹20 per trade
  • Currency and Commodity Trades: ₹20 per trade
Groww maintains a flat fee structure across all segments, ensuring simplicity and cost-effectiveness for traders and investors.
 

Key Strengths

  • Affordable Pricing: Offers one of the lowest brokerage fees in the industry, with a flat rate across all segments.
  • Comprehensive Services: Provides trading and investment services in Equity, F&O, Currency, Commodities, Mutual Funds, and IPOs.
  • Advanced Technology: Employs cutting-edge technology to deliver seamless trading experiences through user-friendly platforms
  • Educational Resources: Offers educational content and tools to help investors make informed decisions.
  • Zero Demat AMC: Does not charge an annual maintenance fee (AMC) for the Demat account.
 

Pros and Cons

Pros:
  • Low Brokerage Fees: Flat fee structure across all segments, ensuring cost-effectiveness.
  • User-Friendly Platforms: Intuitive and advanced trading platforms accessible across devices.
  • Comprehensive Services: Offers a wide range of financial products and services, including mutual funds and IPO investments.
  • Educational Resources: Provides tools and resources for investor education and decision-making.
  • No AMC Charges: No annual maintenance charges for the Demat account.
Cons:
  • Limited Research: Compared to full-service brokers, may offer fewer research and advisory services.
  • Customer Support: While generally efficient, response times during peak trading hours may vary.
 

6.ProStocks

ProStocks is a prominent discount broker in India, known for its low-cost brokerage model and efficient trading platforms. Here’s an in-depth review of ProStocks:

Brokerage Charges

  • Equity Delivery Trades: ₹0
  • Equity Intraday Trades: ₹15 per trade
  • Futures Trades: ₹15 per trade
  • Options Trades: ₹15 per trade
  • Currency and Commodity Trades: ₹15 per trade
ProStocks maintains a flat fee structure across all segments, ensuring simplicity and cost-effectiveness for traders and investors.
 

Key Strengths

  • Low Brokerage Fees: One of the lowest brokerage fees in the industry with a flat rate across all segments.
  • Comprehensive Services: Provides trading services in Equity, F&O, Currency, and Commodities.
  • Advanced Technology: Employs cutting-edge technology to deliver seamless trading experiences through user-friendly platforms.
  • Monthly Plans: Offers unlimited monthly trading plans for equity and currency segments.
  • Zero Demat AMC: Does not charge an annual maintenance fee (AMC) for the Demat account.
 

Pros and Cons

Pros:
  • Low Brokerage Fees: Flat fee structure across all segments, ensuring cost-effectiveness.
  • User-Friendly Platforms: Intuitive and advanced trading platforms accessible across devices.
  • Comprehensive Services: Offers a wide range of financial products and services, including mutual funds and IPO investments.
  • Monthly Unlimited Plans: Offers unlimited trading plans for frequent traders.
  • No AMC Charges: No annual maintenance charges for the Demat account.
Cons:
  • Limited Research: Compared to full-service brokers, may offer fewer research and advisory services.
  • Customer Support: While generally efficient, response times during peak trading hours may vary.

7.Paytm Money

Paytm Money is a prominent online investment platform in India, offering a wide range of financial products and services. Here’s an in-depth review of Paytm Money:

Brokerage Charges

  • Equity Delivery Trades: ₹0
  • Equity Intraday Trades: ₹10 per executed order
  • Futures Trades: ₹10 per executed order
  • Options Trades: ₹10 per executed order
  • Currency and Commodity Trades: ₹10 per executed order
Paytm Money offers some of the lowest brokerage fees in the industry, ensuring cost-effectiveness for traders and investors.
 

Key Strengths

  • Low Brokerage Fees: Extremely competitive flat fee structure across all segments.
  • Comprehensive Services: Provides trading and investment services in Equity, F&O, Currency, Commodities, Mutual Funds, and IPOs
  • User-Friendly Platform: Offers a simple and intuitive interface, suitable for both beginners and experienced investors.
  • Advanced Technology: Employs advanced technology to ensure a seamless and efficient trading experience.
  • Zero Demat AMC: Does not charge an annual maintenance fee (AMC) for the Demat account.
 

Pros and Cons

Pros:
  • Low Brokerage Fees: Extremely competitive flat fee structure across all segments.
  • User-Friendly Platforms: Intuitive and advanced trading platforms accessible across devices.
  • Comprehensive Services: Offers a wide range of financial products and services, including mutual funds and IPO investments.
  • No AMC Charges: No annual maintenance charges for the Demat account.
Cons:
  • Limited Research Tools: Compared to traditional brokers, may offer fewer research and advisory services.
  • Customer Support: While generally efficient, response times during peak trading hours may vary.
 

8.Dhan

Dhan is a new entrant in the Indian brokerage industry, offering innovative and comprehensive trading solutions for investors and traders. Here’s an in-depth review of Dhan:

Brokerage Charges

  • Equity Delivery Trades: ₹0
  • Equity Intraday Trades: ₹20 per executed order
  • Futures Trades: ₹20 per executed order
  • Options Trades: ₹20 per executed order
  • Currency and Commodity Trades: ₹20 per executed order
Dhan maintains a competitive flat fee structure across all segments, ensuring cost-effectiveness for traders and investors.
 

Key Strengths

  • Affordable Pricing: Competitive brokerage fees with a flat rate across all segments.
  • Comprehensive Services: Provides trading and investment services in Equity, F&O, Currency, Commodities, and IPOs.
  • Advanced Technology: Employs cutting-edge technology to deliver seamless trading experiences through user-friendly platforms.
  • Innovative Tools: Offers innovative tools and features to enhance the trading experience, such as advanced charting, real-time market data, and smart order placement.
  • Zero Demat AMC: Does not charge an annual maintenance fee (AMC) for the Demat account.
 

Pros and Cons

Pros:
  • Low Brokerage Fees: Competitive flat fee structure across all segments.
  • User-Friendly Platforms: Intuitive and advanced trading platforms accessible across devices.
  • Comprehensive Services: Offers a wide range of financial products and services, including mutual funds and IPO investments.
  • Innovative Tools: Provides advanced trading tools and features for enhanced trading experiences.
  • No AMC Charges: No annual maintenance charges for the Demat account.
Cons:
  • Limited Research Tools: Compared to traditional brokers, may offer fewer research and advisory services.
  • New Entrant: As a relatively new player in the market, it may have fewer users and less-established customer service infrastructure compared to older brokers.
 

9.Fyers

Fyers is a notable discount broker in India, offering innovative trading solutions and competitive brokerage fees. Here’s an in-depth review of Fyers:

Brokerage Charges

  • Equity Delivery Trades: ₹0
  • Equity Intraday Trades: ₹20 per executed order or 0.03% (whichever is lower)
  • Futures Trades: ₹20 per executed order or 0.03% (whichever is lower)
  • Options Trades: ₹20 per executed order
  • Currency and Commodity Trades: ₹20 per executed order or 0.03% (whichever is lower)
Fyers maintains a flat fee structure across all segments, ensuring simplicity and cost-effectiveness for traders and investors.
 

Key Strengths

  • Affordable Pricing: Competitive brokerage fees with a flat rate across all segments.
  • Comprehensive Services: Provides trading and investment services in Equity, F&O, Currency, Commodities, and Mutual Funds.
  • Advanced Technology: Employs cutting-edge technology to deliver seamless trading experiences through user-friendly platforms.
  • Innovative Tools: Offers innovative tools and features to enhance the trading experience, such as advanced charting, real-time market data, and smart order placement.
  • Zero Demat AMC: Does not charge an annual maintenance fee (AMC) for the Demat account.
 

Pros and Cons

Pros:
  • Low Brokerage Fees: Competitive flat fee structure across all segments.
  • User-Friendly Platforms: Intuitive and advanced trading platforms accessible across devices.
  • Comprehensive Services: Offers a wide range of financial products and services, including mutual funds and IPO investments.
  • Innovative Tools: Provides advanced trading tools and features for enhanced trading experiences.
  • No AMC Charges: No annual maintenance charges for the Demat account.
Cons:
  • Limited Research Tools: Compared to traditional brokers, may offer fewer research and advisory services
  • Newer Broker: As a newer entrant in the market, it may have fewer users and a less-established customer service infrastructure compared to older brokers.
 

10. Alice Blue

Alice Blue is a well-established discount brokerage firm in India, known for its cost-effective trading solutions and user-friendly platforms. Here’s an in-depth review of Alice Blue:

Brokerage Charges

  • Equity Delivery Trades: ₹0
  • Equity Intraday Trades: ₹15 per executed order
  • Futures Trades: ₹15 per executed order
  • Options Trades: ₹15 per executed order
  • Currency and Commodity Trades: ₹15 per executed order
Alice Blue maintains a competitive flat fee structure across all segments, ensuring simplicity and cost-effectiveness for traders and investors.
 

Key Strengths

  • Affordable Pricing: Competitive brokerage fees with a flat rate across all segments.
  • Comprehensive Services: Provides trading and investment services in Equity, F&O, Currency, Commodities, and Mutual Funds.
  • Advanced Technology: Employs cutting-edge technology to deliver seamless trading experiences through user-friendly platforms.
  • Innovative Tools: Offers innovative tools and features to enhance the trading experience, such as advanced charting, real-time market data, and smart order placement.
  • Zero Demat AMC: Does not charge an annual maintenance fee (AMC) for the Demat account.
 

Pros and Cons

Pros:
  • Low Brokerage Fees: CCompetitive flat fee structure across all segments.
  • User-Friendly Platforms: Intuitive and advanced trading platforms accessible across devices.
  • Comprehensive Services: Offers a wide range of financial products and services, including mutual funds and IPO investments.
  • Innovative Tools: Provides advanced trading tools and features for enhanced trading experiences.
  • No AMC Charges: No annual maintenance charges for the Demat account.
Cons:
  • Limited Research Tools: Compared to traditional brokers, may offer fewer research and advisory services.
  • Customer Support: While generally efficient, response times during peak trading hours may vary.
 

11. Finvasia

Finvasia is a unique brokerage firm in India, offering zero brokerage services across all trading segments. Known for its innovative approach and cost-effective trading solutions, Finvasia is gaining popularity among traders and investors. Here’s an in-depth review of Finvasia:

Brokerage Charges

  • Equity Delivery Trades: ₹0
  • Equity Intraday Trades: ₹0
  • Futures Trades: ₹0
  • Options Trades: ₹0
  • Currency and Commodity Trades: ₹0
Finvasia offers zero brokerage across all segments, making it one of the most cost-effective brokers in the industry.
 

Key Strengths

  • Zero Brokerage: No brokerage fees for trading across all segments, including equity, F&O, currency, and commodities.
  • Comprehensive Services: Provides trading and investment services in Equity, F&O, Currency, Commodities, Mutual Funds, and Bonds.
  • Advanced Technology: Employs cutting-edge technology to deliver seamless trading experiences through user-friendly platforms.
  • Innovative Tools: Offers innovative tools and features to enhance the trading experience, such as advanced charting, real-time market data, and smart order placement.
  • Zero Demat AMC: Does not charge an annual maintenance fee (AMC) for the Demat account.

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