5Paisa: Next to Zerodha, 5Paisa is considered as the second largest discount broker in India. 5Paisa is backed by the financial giant India Infoline (IIFL). India Infoline is a public limited company which in turn provides stability to 5Paisa.
offers not just stock trading to its clients but also the facility of buying
car, term and health insurance.
it is a discount broking firm it still provides advisory services to its
clients who are looking for it.
has a flat brokerage structure which is simple for the investors to
understand. There is a flat brokerage of
INR 10 charged per executed order in the equity segment (Equity F&O,
Delivery and currency F&O).
Online: Another remarkable entry to the world of discount broking is
SAS Online which was started by two entrepreneurs. It supports Equity trading,
commodity trading at MCX and currency trading and aims to offer the lowest
trading software provided by SAS online include desktop, mobile and web based
software for the ease of online trading.
charge only Rs. 9 per trade across all the segments which is the most
competitive brokerage charged across the industry.
other benefit that they have for regular heavy traders is that they can buy a
plan by paying a lumpsum amount of Rs. 499 or Rs 999 per month after which the
investors can place as many trades as they want without paying any extra fees.
Capital: Next in the line of discount brokers is Wisdom Capital. It
provides services for stocks, futures, and options on NSE & BSE. Investors
also get the support in commodity trading on MCX and NCDEX. The online trading
platform is highly automated but easy to use. As for the brokerage they have
three different plans. Investors can choose from any of the three plans as per
Plan: it offers trading in all three segments (BSE, NSE and MCX)
at zero brokerage but with little margin/exposure.
Plan: It is good for professional traders. The brokerage charged
under this plan is as follows for NSE equities it is 0.005% intraday and
delivery. The brokerage charged in NSE futures, options and MCX is Rs. 9 per
Plan: It is suitable for high frequency traders who want high
exposure/margin. The brokerage charged is as follows for NSE equities it is
0.007% Intraday and delivery. For NSE futures, currency and commodity trading
at MCX it is 0.005%. The brokerage for options trading is Rs. 15 per lot.
account opening is free for all the three plans whereas the Demat Account
Maintenance Charge is Rs.999 plus taxes for lifetime.
in the list is Samco Securities which brings a whole suite of products for the
investors at a discounted price with high quality services.
investors can trade in Stocks, F&Os, Commodities and Currency in Samco
supports trading on NSE, BSE, MSEI and MCX. They have different software and
back office support for all types of investors. The investors can choose from
desktop to mobile app and algorithmic trading if you are a high frequency
have call and trade facility but the facility is separately charged.
brokerage charged is flat Rs.20 or 0.02% per executed trade whichever is low
for all the segments and there is no other hidden cost.
(PKSV): The other popular discount broker in the list is Upstox
which gained popularity after being backed by Kalaari capital and Ratan Tata.
They have a paperless demat account opening and trading platform.
supports trading in Intraday/commodity/F&O/Currencies on its platform.
also have a separate platform for those who wish to invest in mutual funds and
supports desktop, web and mobile trading platforms.
charges a flat brokerage of Rs.20 per trade and no other additional cost.
Smart Online: Trade Smart Online is a venture of VNS Finance
and is one of the top discount brokers in India. It also offers different
brokerage plans for the investors depending on their requirements.
plans offered by Trade Smart Online are as follows:
Trading Plan: This plan is suitable for low volume traders.
The brokerage charged under this plan for Intraday cash, futures, currency, and
commodities is 0.007% and delivery is 0.07%. For options the brokerage charged
is Rs.7 per lot.
Trading Plan: Under this plan the brokerage charged is Rs.15
per trade irrespective of the volume of trade executed. It is suitable for
traders that have less frequency but high volume.
of the fastest growing brokerage firm in India is ProStocks. The founders of
the company have a good experience in the brokerage business and hence are
providing commendable services to the traders.
can trade in Equity (Delivery, intraday, F&O) and in currencies on
opening with ProStocks is absolutely free. Traders are charged a flat brokerage
of Rs.15 per executed trade.
benefit of the high frequency traders they have monthly and yearly packages.
They provide all the three of web, browser and mobile trading platforms.
15 minutes account opening TradingBells is the new age discount broker where
the traders can trade in Equity (Delivery, intraday, F&O), currencies and
commodities. Traders get a desktop, mobile and web trading platform for their
Equity Delivery brokerage is free.
for Equity Intraday or Futures is 0.01% or Rs.20 whichever is lower.
for Equity options is flat Rs.20.
The discount broking industry
is growing at a fast pace with new broking firms coming up and introducing
lucrative plans and offers to the traders.
From the list of the discount
brokers along with their brokerage structure and charges, we can conclude that
there are only minor differences between the above mentioned brokers.
It is advisable to keep a note of your priorities and financial goals while choosing a discount broker.