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.
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 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.
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.
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.
Hope you have liked the post. Please feel to comment down below if you need any help.