Top Discount Stock Brokers in India 2023, Discount Stock Brokers List with Brokerage Charges

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Literally, as the name tells us, a Discount broker is a kind of stockbroking house that happens to provide massive discounts to its customers. These discounts are majorly made available on brokerage charges. They would either charge a flat rate in order to trade across all the asset classes or else, they would charge a brokerage rate that is very minimal.

As it’s quite difficult to choose the best discount broker currently in India, we have made a list of the top 10.

Here’s hoping we could be of some help to you as you decide which discount broker should you open your Demat account with…! Check out the brokerage’s houses with brokerage calculators of top discount stock brokers in India.

1. Zerodha

Zerodha started its journey in the year 2009; and was founded by Nithin Kamath, it came to be the first and the most prominent discount broking firm in India. In the year 2015, it introduced a brand new in-house trading platform, calling it Pi, which was seen as a giant leap in the field of trading platforms technology.

The primary USP of Zerodha is the Demat Account offered by them, as no many discount brokers are seen offering in India. They charge Rs.100 as the account opening fee, though one won’t need this account for futures and options. Zerodha offers various technological add-ons and products which are a huge help to those investing in stock and securities trading. You will also find tools for the bracket and stop-loss orders amongst its products. Using this, investors can either place stop-loss orders or even cancel them when the right time arrives. Those who invest can make cover orders as well, so as to get higher intraday averages.

It is one of the very few discount brokerage firms that has been consistent in upholding its vision to assist investors and retail traders.

Brokerage Charges 2023:

 Demat Account Rs.100 Then Maintenance Rs.300 / Year AMC
 Trading Account Rs.300
 Intraday Brokerage 0.01% or Rs. 20/executed order whichever is lower
 Delivery Brokerage Zero Brokerage
 Equity Futures 0.01% or Rs. 20/executed order whichever is lower
 Equity Options Flat Rs. 20 per executed order
 Currency Futures 0.01% or Rs. 20/executed order whichever is lower
 Currency Options  0.01% or Rs. 20/executed order whichever is lower

2. RKSV or Upstox

RKSV offers the trading of stocks, options, futures, currencies, as well as commodities on every recognized stock exchange in India, that is BSE, NSE, MCX-SX, and MCX. In order to make the trading in commodity exchanges possible, it has set up a sort of separate legal entity – something like its sister concern.

In terms of products that one can trade in, RKSV offers commodity, equity, future & options, as well as Demat. It does intend to soon come up with mutual funds too. Mobile, desktop, and web are the three kinds of platforms offered here. Upstox is known to be quite a user-friendly trading platform. It has been designed to flash quotes on a real-time basis while providing charts and such presentations in case someone needs a quick reference. Upstox Pro is an advanced platform offered, which in addition to the general features, also offers certain exclusive features to its users.

This discount brokerage firm also encourages the NRI folks to trade/invest.

Brokerage Charges 2023:

 Demat Account NIL Then Maintenance Rs.150 / Year AMC
 Trading Account Rs.150 (EQ+FO), Rs.150 (MCX)
 Intraday Brokerage Rs. 20 per order or 0.01% (whichever is lower)
 Delivery Brokerage NIL
 Equity Futures Rs. 20 per order or 0.01% (whichever is lower)
 Equity Options Flat Rs.20 per order
 Currency Futures Rs. 20 per order or 0.01% (whichever is lower)
 Currency Options  Rs. 20 per order or 0.01% (whichever is lower)

3. 5Paisa

Launched in 2007, 5Paisa, as of today serves more than 7,500 retail clients across the nation, with a target of acquiring another 50,000 customers in this fiscal period. Their user base right now hasn’t been acquired from IIFL and is, therefore, entirely new. The discount stockbroker is in the process of de-merge from IIFL, while at the same time getting listed on the stock exchange.

One of the near-future plans for this firm includes starting commodities trading, as well as offer personal loans. The company is also looking forward to including products such as NCDs and IPOs into its product profile; as they do not have a major investment infrastructure yet (a physical office set up in Mumbai, with a call center format to assist the customers), they are planning to route it through an NBFC of the IIFL Group.

While mainly from equity trading, 5Paisa has been recording Rs. 1200 crore as its daily turnover. Also worth mentioning is the fact that their number of customers is growing by a cent percent as we compare every quarter with the previous one. It should also be noted that most of its user base, about 60 percent, is based out of tier-III as well as tier-IV cities.

Brokerage Charges 2023:

 Demat Account Rs.650 Then Maintenance Rs.400 / Year AMC
 Trading Account NIL
 Intraday Brokerage Rs.10 per order
 Delivery Brokerage Rs.10 per order
 Equity Futures Rs.10 per order
 Equity Options Rs.10 per order
 Currency Futures Rs.10 per order
 Currency Options  Rs.10 per order

4. Bonanza

Bonanza Portfolio Ltd. was founded in the year 1994, and it offers services for one to trade in just about every financial option available out there. These include commodity, F&O, currency, equity, distribution of Mutual Funds, Health Insurance, PMS, IPO, Loans, Real Estate, Wealth Management, and Investment Banking. This is a discount stock broker with more than 1800 centers located all across the country in about 670 cities.

Bonanza Portfolio allows you to place orders by making use of their online trading platform. The broker is known to provide clients with market strategy, investment ideas, trading ideas, the weekly newsletter, monthly updates, daily F&O strategy, and so on. They also provide them with tips and/or research calls on their mobile phones. The firm has its membership in  BSE, NSE, MCX, MCX-SX, NSDL, CDSL, USE, ICEX and so on.

In addition to the above-mentioned products and services offered by Bonanza, some of the portfolio services include Demat Account, Trading Account, IPOs, Depository Services, Advisory Services, PMS, Research Reports, Investment Banking, as well as Wealth Management Services.

Brokerage Charges 2023:

 Demat Account NIL Then Maintenance Rs.250 / Year AMC
 Trading Account NIL
 Intraday Brokerage 0.01%
 Delivery Brokerage 0.10%
 Equity Futures 0.01%
 Equity Options Rs.20 per lot
 Currency Futures 0.006%
 Currency Options  Rs.5 per lot

5. Beeline Broking

Beeline Broking is both, a full-service broker, as well as a discount broker. They are known to offer to trade across various asset classes, and in addition, provide many add-on services too, including SME listing & planning, equity SEP (Systematic Equity plan), technical and fundamental analysis, research and market analysis, tips & recommendations, and so on.

It lets the customers trade online in areas such as equity delivery, derivatives, intra-day,  commodities, and currencies (dollars, sterling, euros, and yen) as it holds membership with BSE, NSE, NCDEX, and MCX.

This Ahmedabad-based discount brokerage firm has extensive experience in the market which as it turns out, is quite helpful for both budding traders as well as investors.

Brokerage Charges 2023:

 Demat Account NIL Then Maintenance Rs.876 / Year AMC
 Trading Account NIL
 Intraday Brokerage Rs.18 per order
 Delivery Brokerage Rs.18 per order
 Equity Futures Rs.18 per order
 Equity Options Rs.18 per order
 Currency Futures Rs.18 per order
 Currency Options  Rs.18 per order

6. TradingBells

TradingBells is the discount brokerage firm, associated with Swastika Investment. A public ltd. the company, you will find its registered office located in Mumbai, while the administrative office in Indore.

With a Corporate Membership across NSE, BSE, ICEX, NCDEX, MCX-SX, as well as USE, this company is widely known for offering an array of investments in stock, currency and commodity, NBF Services, DP service, Bonds, PMS, IPO, Exchange Traded Funds, Merchant Banking, FD, Insurance, Investment Advisory, and so on.,

Brokerage Charges 2023:

 Demat Account Rs.150 Then Maintenance Rs.250 / Year AMC
 Trading Account Rs.300 for Equity / Rs.200 for Commodity
 Intraday Brokerage Rs. 20 per order or 0.01% (whichever is lower)
 Delivery Brokerage NIL
 Equity Futures Rs. 20 per order or 0.01% (whichever is lower)
 Equity Options Rs. 20 per order or 0.01% (whichever is lower)
 Currency Futures Rs. 20 per order or 0.01% (whichever is lower)
 Currency Options  Rs. 20 per order or 0.01% (whichever is lower)

7. EzWealth

EzWealth is a division of Wealth Discovery Securities Pvt. Limited, working as its discount stock brokerage firm that is headquartered in the capital city, New Delhi. This firm, launched about 17 years back, have extensive experience serving a diverse set of customers based both off of retail as well as investors worth high net value; they advise them all based on their individual needs which are set across a variety of asset classes and various kinds of income tax management.

They have a vast network all across the country, and they comprise many a business location that is operated by them and also their other business partners. They serve thousands of clients all across India by providing them with an online trading platform that is seamless, secure and integrated, while allows them to manage all their funds, their trading portfolio, plus their Demat accounts, as it ensures an unmatched level of convenience for them.

Brokerage Charges 2023:

 Demat Account –
 Trading Account –
 Intraday Brokerage Rs.11 per trade
 Delivery Brokerage Rs.11 per trade
 Equity Futures Rs.11 per trade
 Equity Options Rs.11 per trade
 Currency Futures Rs.11 per trade
 Currency Options  Rs.11 per trade

8. MDirect

MDirect is an online discount stock broker for everyone who wants to trade through Moneylicious Capital & Advisory Services Pvt. Ltd. It is an entity based out of Mumbai, and quite new to the industry. Its members with NSE, BSE, NCDEX, MCX, as well as MSEI.

The firm is known to offer to trade in equity delivery, equity derivatives (Futures & Options), equity intraday, commodities, and currency at quite an affordable fee of flat Rs 18 for every executed order.

Their easy-to-use trading platform is well-liked by most of its customers who can manage their portfolios here without much hassle. The brokerage firm is available to its client-base through phone, email, as well as their online portal.

Brokerage Charges 2023:

 Demat Account –
 Trading Account –
 Intraday Brokerage –
 Delivery Brokerage –
 Equity Futures –
 Equity Options –
 Currency Futures –
 Currency Options  –


SAMCO Broking House bears a stronghold in the capital market for being a two-decade-old full-service discount brokerage firm but under the official brand name – Samruddhi Stock Brokers Ltd. This company provides an online platform to trade across all the exchanges in the country, that include NSE, BSE, MCX-SX, MCX, as well as NCDEX.

What distinguishes this firm from the crowd of similar companies is the margin limits they provide for intraday trades. The Rating Tool they’ve given us – it happens to be not only the very first but quite the only Stock Rating tool we have as of now in India. It evaluates and subsequently rates companies on various parameters that include balance sheet analysis, market analysis, corporate governance, earnings, and so on. They provide customer support over the phone, email, and resolve queries through their website as well.

Brokerage Charges 2023:

 Demat Account NIL Then Maintenance Rs.400 / Year AMC
 Trading Account NIL
 Intraday Brokerage Rs.20 per trade
 Delivery Brokerage Rs.20 per trade
 Equity Futures Rs.20 per trade
 Equity Options Rs.20 per trade
 Currency Futures Rs.20 per trade
 Currency Options  Rs.20 per trade

10. Wisdom Capital

Wisdom Capital, a discount stock broker that has a huge franchise network across the nation, supports trade that is broker-assisted, in addition to automated online trading in every segment across NSE and BSE.

The firm offers trades at a heavily discounted price, along with a Free Demat as well as a Trading account devoid of any hidden charges. The depository services offered by them have also proven to be a smooth trading experience for its customer base.

Brokerage Charges 2023:

 Demat Account NIL Then Maintenance Rs.700 / Year AMC
 Trading Account NIL
 Intraday Brokerage Rs.9 per trade
 Delivery Brokerage Rs.9 per trade
 Equity Futures Rs.9 per trade
 Equity Options Rs.9 per trade
 Currency Futures Rs.9 per trade
 Currency Options  Rs.9 per trade

Note: Above given details might vary as per the stockbrokers giving offers to new Demat account openers. So anyone has any issues with the charges and what to know more about the stockbroker’s brokerage details please contact the stock brokerage firm branches nearby you. 

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