NRI discount brokers, on the other hand, are new-age brokerage companies born in the internet age who offer their services through online trading platforms, focus on offering trading services only and don't have a lot of physical presence in terms of branch offices. Here's the complete list of NRI discount share brokers in India by active clients.
NRI discount brokerage companies' key USP is their brokerage rates. Discount brokers like
erodha,Prostocks and Tradeplus etc., pioneered the flat fee brokerage system wherein a trader is charged a flat fee per order irrespective of the trading value. For example, Prostocks offer ₹100 Per Executed Order, the cheapest brokerage for NRI trading in India. When you compare the brokerage charges of discount brokers with full-service brokers, you will find at least a 60% difference in the brokerage fees.
The other USP of the NRI discount stock brokers is their online trading platforms. Right from the account opening process, trading to customer support, these brokers heavily leverage technology in their processes. Zerodha is the best discount brokerage firm when it comes to offering technology-enabled services to its customers. Beyond trading platforms, these companies also offer trading tools for trade analysis, algo trading, and portfolio management.