Top 5 Discount Brokers In India 2021. Stockbroker With Lower Brokerage.

Top 5 Discount Brokers in India 2021: Zerodha was established in 2010. The concept of discount brokerage brings a revolutionary change in the stock market industry.

Discount brokers like Zerodha and others offer low brokerage due to which a lot of customers get attracted to this type of broker. Then other brokers also start copying their concept.

When discount brokers enter the market they start doing good than traditional brokers. The middle-class man also starts investing.

In this post, we are going to discuss top brokers and their key features. Like brokerage charge, maintenance charge, account opening charge, and trading platforms. This section will give you a clear idea about discount brokers. In this article, you get clear about which broker you should choose.

What is Discount Brokers

In India, there are mainly two types of Brokers

1 Discount Brokers

2 Full-service Brokers

Discount brokers debit low brokerage, they are high-speed and fast platforms. Their business model is straight forward they charge brokerage between 10-20 rupees.

Full-Service brokers charge a little more brokerage. They debit around 0.3-0.7% of transition volume. As you increase the volume of transition more brokerage you have to pay. That sums to more brokerage charges.

New to the Stock Market then first read this article.

Now let,s go to the Discount brokerage list

Top 5 Discount Brokers In India


Currently number 1 stockbroker in India. According to NSE 2021 Report(Client wise). Zerodha overtakes old and big stockbrokers like HDFC Securities, ICICI Direct, Sharekhan, etc.

Zerodha, founded by Nitin Kamat in 2010. He is one of the youngest billionaires in India.

zreodha account opening

It has over +4 million clients and contributes all over India. Its android mobile app has +5,000,000 downloads on the play store.

Brokerage Charges

Zero brokerage for equity delivery investment (NSE, BSE)

For Intraday equity, F&O, Currency, and commodity trade Rs 20 or 0.03% whichever is lower.

Account opening charges

For equity Account: Rs 200

For Commodity Account: Rs 100

If you want to open an account in both the Equity trading account and commodity account, then the total charge will be rs 300. The annual maintenance charge for Demat is 300 Rs.

I highly recommend you to open an account at Zerodha. This broker will give you a low brokerage account as a well fast trading platform with a good and easy interface. Their service is quite good than other brokers.

Below I give the direct link to open an account at Zerodha.


This is the fastest-growing discount broker in India. Upstox has support from large investors like Kalaari Capital, Ratan Tata, etc.

It started in 2012 with the name RKSV. Further rebranded as Upstox in 2015.

upstox account opening

Brokerage Charges

Delivery Basic plan charges : 0 Rupees

Intraday trading Basic plan charges Rs 20 or 0.05% whichever is lower.

Angel Broking

Angel Broking was established in 1987. This brand has +30 yr of experience in the stock Broking field. You can trade Equity, Commodity, F&O, and currency across NSE, BSE, MCX, and NCDEX.

In two decades Angel broking was working as a Full-Service broker. Recently (Nov 2019) they change their business model to Discount brokers to compete with their competitors.

They provide stock market recommendations along with research reports and value-added services.

Account opening charges

Delivery Investment charges : 0 rupees

Intraday, F&O, Currency, Commodity trading: Flat 20 rs

5 Paisa

This broker is part of the India Infoline (IIFL). IIFL introduce 5 Paisa to compete with other discount brokers, like Zerodha, Upstox, etc.

5 Paisa offers the cheapest brokerage across India. offer additional services like mutual funds, personal loans, Insurance.

Brokerage Charges

5 Paisa offers 20 Rs brokerage for every type of trade.


Groww was established in 2016. It is a Banglore-based stock broking company. Grow initially started as a Mutual Fund managing company. In mid of 2020, it started to offer stock marketing trading and some other services.

It offers free mutual fund services.

Brokerage Charges

20 Rs or 0.05% per executed order.

For more information here is a list of some Discount Brokers in India.

Alice BlueOpen Demat account
SamcoOpen Demat account
Master TrustOpen Demat account
TradeSmartOpen Demat account
FyersOpen Demat account

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