Discount brokers are those who charges significantly less amount of brokerage charge compared to other traditional brokers. Currently, many of the discount brokers in India are charging 20 Rs or even less sometimes.
The advantage of trading in discount brokers is that one can save a lot of money on brokerage, at the same time they do not offer some of the facilities. Example Zerodha on of the best discount broker in India doesn't offer IPO investment. If you are just starting out this definitely this is the best option. But if you are regular trader do check that discount brokerage meeting all your requirement, only having low brokerage may not enough.
Discount brokers charge their investors as below:
- Transaction Based – Fixed or Percentage amount will be charged on each buy/sell transaction. Discount brokers in India are charging anywhere between anywhere between 8 to 20 Rs or 0.01% whichever is lower.
- Monthly Fixed Type – Discount brokers such as RKSV and SAS online have very competitive unlimited trading plans starting from Rs.999. Unlimited trading plans are provided in selected segments. This would be very useful if you are a regular trader, trading above 10 to 20L per month or even more.
Zerodha is founded by Nithin Kamath on 15th August 2010, headquartered in Bengaluru. Zerodha contributes up to 5% of retail trading volumes on Indian stock exchanges, generating daily trading turnovers crossing $2 billion. It has around 2.5+ lakh clients. In December 2015, Zerodha became the first Indian stock broker to offer brokerage and commission-free equity investments.
Zerodha Brokerage charges:
- Free equity delivery
- Intraday equity - Rs 20 or 0.01% (whichever is lower)
- EQUITY FUTURES - 0.01% or Rs. 20/trade whichever is lower
- EQUITY OPTIONS - Flat Rs. 20 per trade
Upstox is the trading platform offered by RKSV. RKSV was formed in 2009 by three cofounders: Raghu Kumar, Ravi Kumar and Shrinivas Viswanath. In 2011-12, RKSV opened up to general public by entering into retail brokering, and launched India's first online-only unlimited trading plan.
Upstox Brokerage charges:
- Equity Delivery Based Trades: Rs 0 (Unlimited trades)
- Equity Intraday Trades: Rs 20 per executed order
- Equity Future: Rs 20 per executed order
- Equity Options: Rs 20 per executed order (on Turnover)
- Currency Futures and Options: Rs 20 per executed order
- Commodity Futures: Rs 20 per executed order
3) IndianTradingLeague - ITL
6) SAS Online
Samco Brokerage Charge
- Flat Rs. 20 per Executed Order
- Same Brokerage Applicable to all segments – Cash, Derivatives, Currency Derivatives and Commodities
- No AMC’s, No Hidden Costs, No Software Fees!