We have personally observed when it comes to services, most of the traders would like to go with money saving services. Like in airlines tickets, passengers look for cheap fare for short journeys without caring much about quality service.
Same concept is also getting popular with discount share brokers in India, where investors are getting services at low cost. In Indian trading environment, it's very rare where investors are using complete services provided by full-service brokers. So if you are not using all the services like research and so on, then why to pay high brokerage?
For this review, we are not only looking for the lowest broker commissions for trading, but we also focused on brokers that were easy to use, had minimum account opening fee & demat charges, high-class trading platforms and online customer support. Below is the list of "Top 10 Discount Brokers for Cheap Trading in India" or "Low cost Online Trading in India":
| Rank | Brokerage House | Plan Details | Rating |
|---|---|---|---|
| 1 | Zerodha |
Incorporated in 2009, Zerodha is the number one discount broker in India. They have best offering, best customer service, best trading platform with brokerage of maximum Rs 20 per trade and free delivery trading. |
4.5/5 SignUp |
| 2 | 5paisa |
Incorporated in 2016, 5paisa is the number two discount broker in India. They have great customer service with Flat Fee Rs 10 Brokerage Plan. |
4.5/5 SignUp |
| 3 | Upstox |
Mumbai based discount broker is giving brokerage at Maximum Rs 20 per trade and free trading on equity delivery trades. |
4.0/5 SignUp |
| 4 | SAMCO |
Again Mumbai based broker, offering Trade in Maximum Rs 20 Per executed order. SAMCO is 100% online discount broker, operating from one office location. |
4.0/5 SignUp |
| 5 | Fyers |
Banglore Based Trading House - "Fyers Securities" is fastast growing discount broker, offering brokerage plan of Maximum Rs 20 per trade Plan with Free delivey trading. High Margin and Best Customer Support is the key of Fyers to grow in competative market. |
4.0/5 SignUp |
| 6 | TradeSmart |
Broker offers Rs 15 Per trade plan and best trading platform. |
3.5/5 SignUp |
| 7 | Edelweiss |
Flat Rs 10 Per trade and best trading platform. |
3.5/5 SignUp |
| 8 | SAS Online |
Delhi based discount broker is giving brokerage Rs 9 per trade and monthly plans for volume traders. |
3.5/5 SignUp |
| 9 | Prostocks |
Mumbai based discount broker offering brokerage at Flat Fee of Rs 15 per trade, Monthly Unlimited trading in Rs 899, Yearly unlimited trading in Rs 8999. |
3.5/5 SignUp |
| 10 | Tradeplus |
Tradeplus Online offers lowest refundable unlimited trading plans of Rs 99 per month. |
3.5/5 SignUp |
Straight forward pricing structure: Discount Brokers pricing structure is very simple, compared to traditional or full-service brokers. Everyone pays the same brokerage either they buy 1 share or 1000 shares. Making the price clear and easy to understand is part of making it easy to adopt. Discount Brokers are trying to get more business from word of mouth publicity rather than high-cost advertisement and media research. They don't have any hidden charges, so it's easy for an individual to understand.
Never skimping on quality - It would be a mistake to think that low-cost share brokers skimp on quality of service, Software quality, Speed of trade and customer support is as competitive as full-service brokers.
Here at TopShareBrokers.com we update our website regularly to ensure you are getting the best deal possible for your new account.
Before choosing a broker for cheap trading, make sure to read their full review and compare them side by side to determine the best share broker for you.
Last updated on 31st Oct 2019
Future & Option he will charge flat 20/- per transaction and no hidden charges.