Top 10 Discount Stock Brokers in India

Top 10 Discount Stock Brokers in India

Here is the list of top discount brokers in India by the numbers of total active clients. Zerodha is on the top with the highest active clients in India among all the brokers. Upstox is the fastest growing discount broker which achieved 10 Lacs clients in a very short period of time. Many brokers were inspired by Zerodha and started their discount broking services with the same name or by a different name. Zerodha is followed by discount brokers like 5Paisa, Upstox and Samco. Some brokers started a 20 Rs plan to give completion to Zerodha.

There are 3 top discount brokerage firms which have over 1 lakh active customers.

The year wise list of top 10 discount stock brokers in India will help you to choose big discount broker.

'Brokers in India' are divided into two types based on the services they offer and the brokerage they charge.

  1. Full-services brokers
  2. Discount Stock Brokers

Discount brokers are online stock brokers offering low-cost brokerage services with a flat fee per order or fixed monthly brokerage. They are advanced technology driven brokers with low brokerage cost. Most discount brokers do not offer add-ons like research on stocks, trading tips, Portfolio Management Service, Wealth Management, dedicated relationship manager. This is the reason they are offering services at low cost.

Discount brokers charge 70% lower brokerage fees in comparison to full-service brokers. They offer free online trading software,web trading, mobile Apps to their customers.

Zerodha, Upstox and 5Paisa are popular brokers among discount brokers.

Discount brokers including Zerodha and Upstox offer brokerage free equity delivery trade and direct Mutual Fund.

They charge a flat brokerage i.e. Rs 20 per executed order or 10 Rs per executed order or fixed monthly brokerage.

Some discount brokers like 5paisa also offer free Equity research and advisory(Tips) to their customers.

Some discount brokers like ProStocks offer fixed monthly brokerage. Fixed brokerage plans allow the trader to trade unlimited in a month for a fixed monthly low cost.

Zerodha is the most famous discount broker with over 20 lakh customers. Zerodha is the most popular broker in India with excellent products and services.


  • The data for this report is compiled from BSE and NSE stock exchanges.