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Online Zerodha Account, Zerodha Demat Account Which Are The Best Discount Brokers In India?
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Zerodha is the India’s No.1 Discount brokerage firm is able to attract new traders in stock market for the first time in India. Zerodha provides its customers brokerage free equity delivery. It has launched its several advanced technology trading platforms that has made trading and investment easier and convenient. A trader can trade sitting at home also using its Android/ IOS App Kite Zerodha. Zerodha has emerged as a new hope for the retail small traders who want to invest small amounts in share market at lower brokerage cost. It charges zero brokerage in mutual fund and equity trading whereas in F&O and commodity trading is charged at Rs 20 per trade through online mode. The firm also offers it clients call and trade option in which they can call the companies call & trade executives and can do trade, though it incur some calling charges.
The top 5 discount brokers in India are listed below:
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RKSV/Upstox, an emerging discount stock broker in India formerly known as RKSV Securities. It is claimed to be endorsed by Ratan Tata, Kalaari Capital and GVK Davix. The Retail operations of Upstox started way back in January 2012 by three founders namely Raghu Kumar, Ravi Kumar and Shrinivas Viswanath. It currently contributes almost Rs. 7,000 crores in daily turnover on National Stock Exchange of India Ltd. It is a decent trading platform UpstoxPro with reasonable exposure and low brokerage charges. Its charges are inline with the charges offered by Zerodha, additionally it provides leverage up to 2X in delivery trades beneficial for swing traders. Upstox also offer absolutely FREE trading account and zero brokerage in Equity Delivery segment.
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SAS Online SAS online started in 2013 who offers cheapest brokerage fee of Rs.9 per trade or Rs999 per month depending on trader’s choice. They also offer unlimited monthly plans of Rs 499 and Rs 699. They have around 20000 clients with a daily turnover of about 7000 crores. Alpha trader is their trading platform with advanced features.
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Trade Smart Online Trade A trustworthy brokerage firm because of being a subdivision of VNS Finance Capital Services Ltd. It provides prompt customer service, investor friendly fixed monthly brokerage plans, free annual maintenance charge for Ist year, 0.007% or Rs. 20 per executed order whichever is lower. But their trading platforms are not upto the mark and charge high transaction fees.
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TradePlusOnline A rebuilt version of 1983 based Navia Markets Ltd. Its AMC for 5 years and 10 years are minimal. They offer zero brokerage in commodities, unlimited monthly plans at Rs 99 in options, currency and commodity. INFINI power-desktop based, INFINI-web based and Trade plus mobile-mobile based are its trading platform which can be accessed by paying a fee of Rs 499. It’s Call and trade service is also a pain.
The top 3-in-1 broker in India is listed below:
ICICI Direct It is said to be safe broker for long term investment as well as for buying and holding ETFs (Exchange Traded Funds). If you are a beginner in stock market or an investor in the market, then this type of account is highly recommended to you.One can invest in Equities, IPOs, Mutual Funds, NCDs, Government Bonds, Corporate FDs with high interest rate, Insurance, NPS, Tax Services & many more financial services. One can also execute F&O, Currency trading as well. One can use its existing shares in demat to get instant limit as margin.
In India, three types of brokers exist:-
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Full service brokers They are traditional/regular brokers who charge heavy fees from their customers to accomplish trade along with market research on behalf of them. They also provide suggestions to their clients in financial matters, investment, retirement, tax saving etc. They charge around 0.4-0.5% depending on the trade volume. They are not budget friendly. Examples include Motilal Oswal, Kotak securities, ICICI direct etc.
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Discount Broker They are online brokers who charge minimal fees from their clients to purchase and sell securities in the stock market .They provide advanced technology trading platforms, faster speed, and quick execution of trade which are accessible from any place even at home. Examples include Zerodha, RKSV etc
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3-in-One Bank Brokers These are the safe brokers if one is willing to invset for long term only. Generally, they charge high brokerages but few reputed firms offer reduced pricing through their prime plans or prepaid brokerage plans. These brokers open 3-in-1 account including Saving Bank Account + Trading Account + Demat Account in single go. Their employ visit the customer and completes all paper work at customer’s desired destination. They provide all possible types of financial instruments viz. IPOs, Government Bonds, Corporate FDs, TakeOvers and Aquisitions etc. at single window