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10 Best Top Discount Stock Brokers In India

By Aamirbasha
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Trading through internet has become the most preferred option. It is less time consuming and also less tedious as you do not have to call your broker to execute an order. Even traders prefer to trade online. This has led to new type of brokers, which are known as Discount brokers that are fast emerging.

Discount brokers charge a reduced commission and do not provide investment advice. Discount or low cost brokers is for those people who are not new to investing and use their own knowledge and skill to trade.

 

As of now, there are a lot of low cost brokers in the market. It's like a challenge to find which one is the best. The parameters we must be looking at is price-per-trade, other fees (such as fees for closing an account, fees for transferring shares into another account, custodian fees, account inactivity fees, wire transfer fees, annual fees and charges for not maintaining a minimum required balance.) Customer service, Investment product selection (such as government bonds, options, corporate bonds, and the like are not available through every brokerage).

Here is a list of 10 of the best discount stock brokers in India.

My Value Trade
  

My Value Trade

My Value Trade is the best in the business, when one compares to price per trade. A subsidiary of Master Trust Group, the company started its brokerage operations in 2014. Due of its large client base, the brokerage is able to achieve a turnover of Rs. 4500 Crore per day. At Rs 10 per executed trade, it is just Re 1 below that being charged by SAS Online. You can trade across segments and there is no wrapped-up charges. The company claims to do a turnover of Rs 4500 crores per day. Among the cheapest low cost brokers in India

SAS Online
  
 

SAS Online

When it comes to brokerage per trade, there is nothing to beat SAS Online. SAS Online offers trading at Rs 9 per-trade along with an exceptional proposal of unlimited trading plan. As per unlimited trading plan they offer unlimited trading equity at Rs 999 per month. What's more, unlimited trading in MCX is at Rs 999 per month and in currency is Rs 499 per month which is the best in the business. Interestingly, you also get margins against your shares and the same charges apply whether you are trading or for delivery trades. This is the cheapest low cost broker in India and among the best top discount brokers in terms of pricing.

Trade Plus Online
  

Trade Plus Online

Trade Smart Online was founded in 1994 and has a long track record in Indian stock market. You pay Rs 99 and you get unlimited currency trading and commodities trading. Equity intraday trading comes at 0.01% & Equity Delivery at 0.10%. Presently, Trade Smart Online provides online brokerage services in NSE Cash, NSE Currency derivatives, NSE FNO, BSE Cash and commodities.

Zerodha
  

Zerodha

Zerodha is among the first few discount brokerage firms in India. The company was established in 2010 and started their operations as discount-brokerage firm. Zerodha's new trading platform has exceptional and advanced features like backtesting, advance charting, and many more other features for trading in India Stock Market. The firm charges Rs 20 per transaction, irrespective of the volume. This is for the F&O segment, equity segment and whether you trade or take delivery.

RKSV
  

RKSV

RKSV started their operation in 2012 and offers 3 different types of brokerage plans. The plans are targeted for Passive traders and Active traders with rates on per trade basis as well as fixed amount per month per segment. It has a very unique proposition for traders. If you hold a trade until the next day, the brokerage firm charges zero brokerage. This is risky for traders though, given that you may not know what happens tomorrow. Otherwise, it is Rs 20 for trades including shares, commodities, forex and currency. Their final plan at Rs 9,999 offers unlimited trading per month for all segments.

RK global
  

RK global

R K Global launched its retail brokering business in year 2004 and since then grown exponentially. RK global offers a lowest brokerage with its Rs 9/lot. With an increase in competition in 2010 the fee structure is then changed to Rs 9/executed order. It also has unlimited plan of Rs. 999/month

Tradejini
  

Tradejini

TradeJini is a discount brokerage firm that offers an integrated platform for derivatives, commodities, equities, and currency with flat Rs.20 per trade. Tradejini charges are similar to Zerodha. This is across all segments including equities and forex. There is an integrated trading platform for equities, derivatives and commodities. They aim to break the traditional wall of percentage brokerage. TradeJini also offer phone based trading with an extra cost of Rs20. Per trade.

Trade Smart Online
  

Trade Smart Online

TradeSmartOnline is a subsidiary of VNS Finance Capital Services Ltd. VNS has good standing in the Indian share market and have trader friendly plans based on fixed charge and monthly based schemes. It is another low cost share broker or call it discount broker, if you wish. The charges per trade is Rs 15, irrespective of the value of the order. You can get exposure for up to 4 times for delivery based transactions. There is no minimum commitment that is required.

Bonanza online
  

Bonanza online

Bonanza online is one of the fastest growing financial services provided by 5mega group companies under it. Established in the year 1994, its brokerage rate is as low as Rs.18 per order. it has spread its trustworthy expertise with pan india presence. It was Awarded by BSE as "Major Volume Driver".

CompositEdge
  

CompositEdge

CompositEdge like all of the above has a flat fee structure of Rs 18 per transaction. It has a large customer base in Karnataka and has unique brokerage plans. It supports automated trading. There are no minimums and no hidden costs. You can trade in stocks, commodities and the futures segment. This is also a good low cost and the best broking firm to start a trading account.

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