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Top 10 Discount Broker in India

This list of Top 10 Discount Brokers in India is prepared with the current data available on the NSE website with active customers. The Discount Brokers offer online trading services on fixed brokerage price. Zerodha is the number one broker in India after pushing down ICICI Direct. Discount brokers are no more offering only brokerage services but they are coming up as Fintech companies as they are investing more in technologies to get the market share. If we see Top 10 Stock Brokers List out of that 4 are discount brokers. We are closely monitoring this data from last 3 years and we have seen discount brokers are changing the market trend. With their offerings, customer service, product line, and low brokerage, Discount brokers will keep leading the market. Full-Service Brokers like Angel Broking, Edelweiss, Alice Blue and so on already started moving towards discount brokerage. In the near future, we will see a major move in this area. Below is the list of Top 10 Online Discount Brokers in India.

Top 10 Discount Broker in India-Report

seq Broker Name Detail Active Clients Invest Now
1ZerodhaZerodha is over all number 1 broker in India, not just in disocunt broking segment with active customer count - 4304501.4304501Enquire
2UpstoxUpstox is the 2 largest discount broker in India with active customer count - 3027803. Still the differance between Zerodha and Upstox is more then half in terms of active customers.3027803Enquire
3Angel BrokingAngel Broking ranked number 3 discount broker in India with active clients - 1979094. Angel Broking was full service broker, but recently they changed their plan and move to discount broker segment. The 3rd rank for Angel Broking is not organic as this count is mix of old and new customers.1979094Enquire
4GrowwGroww ranked number 4 discount broker in India with active clients - 1351472. Groww is making its space in the broking business very fast due to its existing mutual funds customer base. 1351472Enquire
55paisa5Paisa ranked number 5 discount broker in India with active clients - 1002020. Because of Angel Brokings entry in discount broking segment, 5Paisa has moved down from 3rd to 4th place. But in true value, 5paisa is holding 3rd rank in discount broking segment.1002020Enquire
6EdelweissEdelweiss ranked number 6 discount broker in India with active clients - 165052. Again this is a lateral entry as Edelweiss also changed their brokerage plan from percentage based brokerage to flat fee brokerage.165052Enquire
7Alice BlueAlice Blue ranked number 7 discount broker in India with active clients - 139775. Again a lateral entry in discount broking, but Alice Blue is well known name for commodity trading in South.139775Enquire
8SAMCOSAMCO ranked number 8 discount broker in India with active clients - 79293. Compare to its peers Zerodha, Upstox, 5paisa - SAMCO is far behind in the market share. Logically SAMCO holds 4th Rank but due to Angel Broking and Edelweiss entry, its ranks move down to 6th place.79293Enquire
9FyersGroww ranked number 9 discount broker in India with active clients - 45003. In terms of actual discount brokers ranking, Fyers must be ranked number 6th after Zerodha, Upstox, Groww, 5paisa and SAMCO. But due to changes in the business model from Full-service broker with their old customer counts, Fyers moved to 9th place. In past two years, Fyers has moved up and now coming in top 10 positions. We can see that Fyers has the potential to grow in a much faster speed due to its platform, margin policy and active management.45003Enquire
10SAS OnlineSAS Online ranked number 10 discount broker in India with active clients - 19076. From last 2 years, SAS online is not able to expand very much where brokers like Zerodha, Upstox, 5paisa are taking major market share.19076Enquire

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Last updated on 29-Jul-21

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