If anyone wants to invest in share market they need a medium. Stocks are mainly listed in Bombay Stock Exchange and National Stock Exchange. But one cannot buy directly from stock exchange. There is a need of middle man need who are enlisted in stock exchange. They are regulated by SEBI. There are basically two type of brokers present in the market.
One is full service broker who not only give you option to buy share but also they provide some add on benefits like share recommendation, trade on call and other facilities. But to get this one have to give a comparatively big amount.
To reduce this, there are some stock market brokers who are known as discount broker. They charge very less amount compare to full service broker. If you want to save your money it is recommended to open a account in discount broker.
Here are list of 4 top discount brokers in India:
If there is one company which is recommended by all, that will be surely Zerodha. In last few years they have gained trust from their customers. At present they have the highest active customer in India. The one USP of this broker is they charge ulta low brokerage and they did not even charge for equity delivery if it is kept more than 1 day.
It has the second highest number of customer after Zerodha. It is very much trusted broker as it is backed by big name like Ratan Tata. Zerodha even take 300 rs to open a demat account.
But in case of upstox they even don’t charge to open demat and trading account. Similarly they charge very low for other rate too. In this platform you can trade on equities, commodities, currency, futures and options. You can easily trade with your phone using the web or app of this broker.
3) 5 Paisa
It is relatively new company but they become one of the largest discount broker in two years. It charge flat 20 rs brokerage irrespective of the amount you trade which is beneficiary for big traders. They are enlisted in both BSE and NSE . they also provide platform to trade mutual funds.
At present they offer three types of plans where customers get different benefit from it and it is very much loved by the customers of this particular broker. You can trade via their mobile app named 5 paisa mobile app.
This bangalore based company give you a good and cheap platform to trade. They attract a huge customer groups by offering safe secure and cheap platform to trade. You can trade equity , mutual fund which is free of cost. They have a mobile application named Groww which give you seamless experience when you trade. You can even invest in stocks of US which is very peculiar. There maximum brokerage charge is 20 rs/share which is pretty affordable for all type of customers. You can easily open account to start your trade.