3 Best Discount Stock Broker in India 2017
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If you are investor or trader or planning to invest in stock market then you should carefully choose your broker as it will help you to save money and hassles. In this article I will compare Best Discount Stock Broker India 2017.
I have used all of these 3 discount brokers. I will share my honest opinion about them. Before we proceed to review, you must know the difference between full service broker and discount broker.
Full Service Broker:
They will charge you percentage of the trade value as a brokerage. eg. 0.05% of total traded value will charged as brokerage. HDFC Securities, ICICI Direct etc are major full service brokers.
Discount Broker:
They will charge you flat fee per trade irrespective of the traded value. So if you are active trader then you will save a lot of money with discount broker.
So Best Discount Stock Broker India 2017 are as follows
- Zerodha:
Zerodha is market leader in the discount broker section founded in 2010 by Nitin Kamath. They contribute upto 5% retail trading volume in indian stock market. You can open account with them by filling form online and paying Rs.300/- as a account opening fees. To open account go to Zerodha.com
I will write detailed review on Zerodha including its trading software soon.
Brokerage charges of zerodha are explained below.
2. Upstox:
Upstox is another good discount broker in india formerly known as RKSV securities Ltd. They are fast growing broker with the help of innovative technology.They are fast and support is also good. I never had any problem with them. Their trading software UpStox Pro is available on Mobile, Desktop and Web platform.
Account opening charges are free but you need to pay Rs.150/- annually as AMC. To open account go to Upstox.com
Upstox brokerage charges are similar to Zerodha/. Please refer above table for more details.
3. Prostocks
Prostocks is another SEBI registered brokerage firm founded in february 2016. They offers 3 plans to choose from depending upon your trading frequency. Their trading platform is as good as Zerodha and UpStox. You can open account online without any need to courier the documents to them. Account opening fees is free and there is one time refundable AMC charges of Rs.999.
Trading Plans:
Brokerage Charges:
Hope you have liked the post. Please feel to comment down below if you need any help.
Is ProStocks good for newbie ? or Should I open account with Zerodha ?
Zerodha is good if you are newbie. They have good support and forum if you stuck somewhere. Also you can learn more about trading from Zerodha Varsity.
You have forgot to add SAMCO the best discount broker in India.
I havent used SAMCO. So cant review it.
thanks for this amazing blog 🙂
keep blogging
You are welcome 🙂
Very well written and nice information to share.
keep up the good work.
Thank you 🙂
Nice article, do you mind if I share it on my website, Dynamite Indicators?
I will happily link back to this article, thanks.
Hi,
Yes , You can use it with linkback to this article.