Introduction of Best Discount Stock Brokers in India
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If we want to trade we need to open a Demat account with someone's stock broking company. However, there are two types which are Full-service brokers & Discount Stock Brokers. Most full-service brokers charge higher brokerage charges. However, it offers benefits such as research and stock tips, relationship manager, training sessions. Discount Stock Brokers, however, charge a much lower brokerage fee than full-service brokers. It also offers a high-speed platform for traders. Trading through these Discount Stock Brokers will save a lot of brokerages if you want to trade.
However, there are many Discount Stock Brokers in the market. Let us now learn about the Top 5 Discount Stock Brokers among them. Find out about these and open a Demat Account in which of these suits your trading style.
Table of Contents
- Zerodha
- Upstox
- Angel Broking
- 5Paisa
- Alice Blue
- Conclusion
Ok, let us start our topic
Zerodha
Zerodha - Best Discount Stock Broker in India. It can be said that this Zerodha actually brought the concept of Discount Stock Brokers. Zerodha has surpassed ICICI Direct, HDFC Securities, and Sharekhan to become No. 1 since its inception in 2010.
Zero brokerage on delivery, Rs 20 on Intraday Equity, F&O, Commodity, and Currency Segment Rs 20 brokerage charge for any order.
There is no other best trading terminal other than Zerodha Kite when it comes to trading through the website. Very simple, User friendly.
In addition, you can invest directly in mutual funds through Zerodha Coin. There is also a website and app called Zerodha Varsity for those who want to learn about the stock market. In this, you can learn about the stock market very easily.
In this, you have to pay Rs 200 to open an account. Annual Maintenance Charges are Rs 300 + 18% GST. However, this amount is charged Quarterly Charges Rs 75 + 18% GST once in three months.
Upstox
Upstox is one of the fastest-growing discount brokers in India. The company started as RKSV in 2012 and became Upstox in 2015. In terms of active clients, Upstox is second only to Zerodha. It also charges zero brokerage on delivery as in Zerodha, Rs 20 brokerage on any order in Equity, F&O, Commodity, and Currency Segment on Intraday.
Ratan Tata is the investor in this so it stands as a reliable company. Also, opening an account is very easy and fast.
Another best offer is to open a Upstox IndusInd Bank 3-in-1 account. This means that along with the Demat account in Upstox, a bank account will also be opened in IndusInd Bank. This allows you to transfer funds very fast.
If you want to open a Upstox IndusInd Bank 3-in-1 account you can do so at Upstox.
This includes Annual Charges Rs 300 + 18% GST. However, once a month in Upstox MMC charges Rs. 25 + 18% GST will be charged.
Angel Broking
Angel Broking has been around for a long time. Angel Broking was founded in 1987 and has been a trusted brand in the stockbroking industry for over 30 years. Initially, they were full-service brokers. But now the Discount Stock Broker has changed to withstand the competition. Zerodha, Upstox as in Delivery zero brokerage, Rs 20 brokerage charge for any orders in Equity, F&O, Commodity, and Currency Segment on Intraday. In short, Anglebroking charges take the same as Zerodha, Upstox.
Another benefit of Angel Broking is that the Angel Broking Research Team provides Stock Recommendations from time to time. It tells you which share to buy at which price and which price to sell.
In Angel Broking, you can open a Demat Account for free. Also, there are no AMC charges for the first year. AMC will be charged from the second year.
You can also invest in US stocks such as Apple, Amazon, Google, Facebook, Tesla through Angel Broking.
5Paisa
IIFL (India Infoline), a leading financial services company, has been a full-service broker for over 20 years. However, they started 5Paisa to bring a low brokerage platform to enter the discount broking segment.
There is also a brokerage charge of Rs 20 per order on 5Paisa. If you pay 499 and subscribe to the "Power Investor Pack" plan, you will be charged only Rs. 10 per order. But it is charged at the rate of Rs 45 per month but it is also only in any traded month. No Annual Maintenance Charges will be levied if no trade is made during that month.
5Paisa has also developed a platform called 5paisa school for those who want to learn about the stock market. Through this, you can also learn about courses related to the stock market like Equity, Commodities, Mutual Funds.
5Paisa also allows you to invest in US stocks such as Apple, Amazon, Google, Facebook, and Tesla.
Alice Blue
Alice Blue is also one of the lowest brokerage companies in India. Offering free delivery trading, Freedom 15 charges just Rs 15 per order on all segments like equity intraday, F&O, MCX, and currency.
Alice Blue is the largest commodity broker in South India in terms of commodity trading. Alice Blue also offers free algotrading services.
You can open a Demat Account for free on Alice Blue. Also AMC charges 400 / - per annum. This amount is charged at Rs.33.30 + GST per month.
Conclusion
Each stockbroker offers different types of offers. However, it is important to open a Demat account with a stock broking company that offers high-quality trading tools and active customer service. No broker is charging low brokerage.
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