Best Discount Broker In India

 

Do you really want your head high, in the segment of trade you are dealing with?

Whether it’s equity, commodity or options, your ultimate goal is to have good profit with less expenses.

For this, various aspects of choosing best discount broker for stocks and commodity online trading must be plumbed. Also, relevant search in this context must be pursued so as to keep the rhythm of  happy and profitable trade.

  • Check if the discount broker has the membership of various Stocks & commodity exchanges like BSE, NSE, MCX, NCDEX
  • Check whether these stock brokers have the low brokerage rate, maximum leverages , best margin, great user interface and good customer support.

Reviewing the above insights, list of best discount brokers from top 10 stock brokers in India are enlisted below:-

1. Wisdom Capital

 

Wisdom Capital is one of the best discount brokerage firm, as it provides you a low brokerage plans and excellent trade experience. Besides lifetime zero brokerage plans, it involves number of technological aspects for your convenience in the online trading activities. It offers credible versions of web, desktop and mobile applications. By following certain points while moving ahead to choose the best discount stock broker suitable for your trade, you can explore following points.

 

  • Embezzlement free trade.
  • Cheapest Brokerage rate in the industry.
  • Hassle free trading.
  • Secured Transaction.

 

It is important to note that none other than Wisdom Capital offers Brokerage free stock trading services in India. Even though some brokers used to assert that they are charging zero brokerage, but in real life, they used to hefty amount per trade or some upfront charges on monthly or yearly basis. Wisdom Capital gives life time zero brokerage freedom plan in equity, futures and options at NSE/BSE and commodities at MCX/NCDEX.

In some of the brokerage firms, brokerage rates and the commissions associated are higher than expected but Wisdom Capital offers low brokerage charges at the same time. Many investors are unaware of the fact that how much brokerage they are going to pay, and how much money they could have saved if they would have chosen the right discount stock brokerage firm. So check for the brokerage and margin calculator before moving ahead in your trade activities.

Account and margin details are given below:

Plans Freedom Plan Pro Plan Ultimate Plan
Account Opening Free Free Free
Validity Lifetime Lifetime Lifetime
Brokerage in FNO (NSE/MCX) ZERO (0%) 9/Trade Future: 0.005 (NSE/MCX), Options : Rs. 15/Lot
Free Demat Opening Yes Yes Yes
Trading Software Nest Free Free Free

 

 Equity Upto 10 times for Intraday, & 0 for Delivery
 Equity Futures Upto 5 times for Intraday
 Equity Options No Leverage buying, Shorting Intraday upto 2 times
 Currency Futures Upto 2 times for Intraday
 Currency Options No Leverage buying, Shorting Intraday upto 2 times
 Commodity Upto 5 times for Intraday

 

 

 2. Zerodha

A discount service stockbroker which carries out stock trading has the subsidiary responsibilities too. Before hopping on to its key features, let us have look over its brokerage charges offered. Zerodha being one of the noticeable brokerage firm has following fee structure.

Account Opening Rs 200
Brokerage Rate Rs 20
Brokerage intraday cash Rs 20
Brokerage Delivery cash Free
Brokerage intraday FNO Rs 20/Trade

 

Similar pricing for Equity, F&O, Currency, and Commodity across all exchanges  with zero upfront fee or turnover commitment.

An organization that enhances the trade of equities and other segments between the buyer and seller is a brokerage firm. A discount broker or an online broker is a firm that performs the trade at low brokerage rate. Full service stockbroker will charge a very high premium for their services. Everyone can explore the stock market with the help of discount brokers, its clients charging less, but does not provide financial assistance.

Dedicated team is present to ensure the fastest resolving of queries via email or calls.

Discount brokers offer their clients the easy way to perform trades via automated, computerized trading systems. Many discounted services are provided by these firms as there is cut throat competition in the market. All brokerage firms, including discount brokerage and full-service discount brokerage work on the similar process and are licensed by financial regulatory authority.

Zerodha is one of the  leading stock brokers in the  market. Due to its large trading volume, number of customers and growth, it is considered as credible one. The headquarters of Zerodha is in Bangalore. Among the numerous discount brokers in the nation. Anyone who would like to open an account online can walk into its franchise offices and access its available services.

The electronic trading platforms are provided free of cost to the clients. The trading platforms provided by Zerodha are:

  • Zerodha Trader (Desktop application)
  • Web (html5) called Z5
  • Mobile
  • Offline (Call and trade with a charge of Rs. 20 per call)

 

3. SAS Online


It has been incorporated in 1995 and exchanges enabled are BSE, NSE, MCX.

Trading platforms available with SAS online are:

  1. NOW Trader– Free software provided by NSE. Equity, derivatives, commodity and all accessible on this It is available in web and mobile and desktop versions.
  2. NEST Trader– Efficient execution of orders as well as real time monitoring prevails. This is easy to use trading terminal. In other words, it’s reliable and user friendly.

Marginal charges associated are as follows:

Equity Upto 20 times for Intraday & 0 for Delivery
Equity Futures Upto 5 times above Span
Equity Options Buying 0 & Shorting upto 2 times
Currency Futures Upto 2 times for Intraday
Currency Options Buying 0 & Shorting upto 2 times
Commodity Upto 5 times on Span

 

Some other details:

  • Transaction Charges: This is charged at Rs 325/crore for Equity, Rs 250/crore for Futures, Rs 6000/crore on premium for options for Delivery trades in Equity.
  • Stamp Duty: Charges relies on the place, where customer resides.
  • (GST): 18% of the total cost of brokerage plus transaction charges.
  • SEBI Turnover Fees: It is charged as Rs 15 per Crore.

Margin against shares is available and monthly unlimited trading plans available for trading   at NSE, BSE and MCX.Trading Software’s including website, mobile app and installable trading terminals are available at zero cost. Call & Trade is available at surcharge of Rs 20 per executed order but margin funding is not available. SASOnline Referral Program allows its customers to refer friends and earn from 20% to 50% of the brokerage paid by them.

 

4. Tradeplus online:

 

Being established in 1983 as Navia Markets Ltd, it has emerged as a revolutionary stock broker, which had shown it’s potential at nascent stage itself.

In terms of Customer Care, their customer support is impressive as they have toll free no to call, email support and sms service too. Their Backoffice support is also very good with high degree of performance.

 

The full product and services of the company include trading in equity, Intra-day, future      and option, currency and commodities on NSE, BSE and MCX, Tradeplus gives its own DP services which has membership with NSDL.

With its vetted brokerage plans, it provides high scale customer acquisition at low cost.

Equity 30 X on NIFTY 50 Stocks
Equity Futures SPAN/4 on Indices and NIFTY 50 stocks
Equity Options 2 times on selling
Currency Futures 2 times intraday
Currency Options No leverage
Commodity SPAN/4

 

 

 

5. RKSV/UPSTOX


This brokerage firm was formed in 2009, the exchanges enabled are NSE, BSE and MCX. It was founded by  Raghu Kumar, Ravi Kumar and Shrinivas Viswanath. It has commenced its trading platform named as Upstox. It has also introduced its India’s first online only unlimited trading platform. RKSV has also made effort by bringing its trade academy support which ushered number of traders who were at the starting stage of their trading.

It has number of charting indicators with highly advanced computational capabilities. They have additional offers and they provide 5 free trades per month for the  life time. Margin overview is:

Equity Upto 20 times for intraday, 0 for delivery
 Equity Futures Upto 4 times for intraday
 Equity Options Buying no leverage, shorting upto 4 times for intraday
 Currency Futures Upto 4 times for intraday
 Currency Options Buying no leverage, shorting   upto 4 times for intraday
 Commodity Upto 3 times for intraday

 

 

 6. Sharekhan


It has been existing in the market for long time. Sharekhan being a good rival works in different financial segments like equity, future, options and commodity. It had been inaugurated in the year 2000. Since then, it has constructed  its robust image in the stock market. Marginal view is shown as:

Equity Upto 10 Times for Intraday & 5 Times for Delivery(Interest charged)
 Equity Futures Upto 2 times for Intraday
 Equity Options No Leverage
 Currency Futures No Leverage
 Currency Options No Leverage
 Commodity Upto 2 times for Intraday

 

 

7. Tradejini


Tradejini was originated in the year 2012. It is a Bangalore based stock broker, engaged in multiple segments of financial instruments. With minimal charges, it also provides trading programme which is built for the convenience of its customers. You can proceed your trade activities easily by using its mobile, desktop and web versions.

As it consigns easy-to-use interface, Besides this it also upgrades cutting-edge & powerful technological features. The margin rates offered are mentioned below:

Equity Upto 20 Times for Intraday, & No leverage for Delivery
 Equity Futures Upto 2 times for Intraday
 Equity Options For Buying No leverage, For Shorting upto 2 times for Intraday
 Currency Futures NA
 Currency Options NA
 Commodity Upto 2 times for Intraday