This article discusses the Best Discount Broker in India. Now, look no further if you’re searching for a market dealer that combines affordability, reliability, and a touch of charm.
Prepare to embark on a delightful journey through the stock market with this review of the top 10 discount brokers.
This review presents our handpicked selection of the best discount brokers. Each broker offers a blend of market analysis tools, cool charts, simplicity, and attractive offers.
If you want to make the path to financial success as seamless as possible, no more time-wasting; here’s the breakdown of the top 10 discount brokers in India.
Choose wisely because the best of these is made for you.
Best Discount Broker in India: List of Top Discount Brokers of 2026
| Rank | Broker Name |
| 1 | Zerodha |
| 2 | Angel One |
| 3 | Upstox |
| 4 | Groww |
| 5 | 5Paisa |
| 6 | Paytm Money |
| 7 | Nuvama |
| 8 | Fyers |
| 9 | Alice Blue |
| 10 | Espresso |
We needed key parameters to identify the few discount brokers in India that offer every little help at a low cost.
The study on the best brokers considered several factors, including the quality of trading platforms, fees, and other charges.
Similarly, the volume of active clients, asset type, services, brand trust, and programs are all part of this juggle to find the best discount broker.
Yet, the brokerage fee for almost every option stands the same. But if you want a discrete review of each broker, let this list of the top 10 discount brokers be your go-to source.
Let’s move on to the main debate now.
Compare the top 10 discount brokers in India
Comparing the top 10 discount brokers in India for a detailed discount broker comparison is like diving into a sea of possibilities.
| Broker Name | Active Clients | Brokerage | Offers | AMC |
| Zerodha | 66 Lakh | Rs.20 per Trade | Free Delivery & Direct MF Investment | Rs.300 Yearly |
| Upstox | 39 Lakh | Rs.20 per Trade | Zero Commission on Mutual Funds | Rs.150 Yearly |
| Angel One | 43 Lakh | Rs.20 per Trade | Lifetime Free Delivery Trading | Rs.240 Yearly (1st Year Free) |
| Groww | 52 Lakh | Rs.20 per Trade | Free MF Investment | Free |
| 5Paisa | 10.5 Lakh | Rs.20 per Trade | Low Brokerage @ Rs.10 per Trade | Rs.300 Yearly |
| Paytm Money | 6.6 Lakh | Rs.15 per Trade | Refer & Earn Rs.250 per Client | Free |
| Nuvama | 2.2 Lakh | Rs.10 per Trade | Free AMC for 1st Year | Rs.500 Yearly (1st Year Free) |
| Fyers | 1.7 Lakh | Rs.20 per Trade | Free Delivery Trading | Free (limited period offer) |
| Alice Blue | 1.5 Lakh | Rs.15 per Trade | Zero Account Opening Charges | Rs.400 per Year |
| Espresso | 1.1 Lakh | Rs.20 per Trade | Zero Brokerage for Loss-making Trades | Rs.400 per Year |
Firstly, we identified the metrics that set them apart from the rest. Zerodha, with its user-friendly platform, grabs attention right off the bat.
Meanwhile, Alice Blue shines brightly with its low brokerage charges. On the other hand, Angel Broking’s complete service brings a unique flavour to the table.
However, 5Paisa’s competitive pricing is also enticing. Competition is fierce, with each broker vying for the top spot.
Beyond the flat brokerage fee, every trade also carries statutory costs — here’s a breakdown of STT, GST and stamp duty so you know the real cost per order.
As we navigate this sea of discount brokers, we find the one that aligns with your trading goals and values. So, without losing a moment, let’s get in.
Discount Broker Meaning
A discount broker is a financial middleman that provides a cost-effective route to invest in a market.
Unlike full-service brokers that offer tailored advice and comprehensive services, discount brokers aim to keep costs low.
These brokers handle trading in stocks, bonds, and other market assets at lower rates. With their affordable fees, discount brokers make investing easy for a wider audience.
Switching to their services also brings other great perks. So, if you are searching for a budget-friendly option to enter the investing world, no doubt, a discount broker is your trusted friend.
Zerodha – Best Discount Broker
Zerodha proudly serves an astounding 65 lakh+ active clients, proving why it tops the Best Discount Brokers list.
Moreover, its reputation speaks volumes, attracting investors far and wide since its inception in 2019 by Nithin Kamath (the founder).
And regarding account opening charges, it is a small price, Rs. 300, for the wonders that await.
Moreover, Zerodha’s annual maintenance charges (AMC) are incredibly reasonable at just Rs. 300 per year.
In addition, free delivery charges also raise the joy of trading with Zerodha! Ensuring your hard-earned profits stay right where they belong—in your pocket. More details are in the pros and cons section.
Pros
- The nation’s largest discount stock broker
- Parent of the most popular app for traders (KITE)
- A simple interface that even a child can understand
- Delivery charges are absent.
- Intraday charges are Rs. 20 per trade or 0.03%, whichever is lower (for all assets).
Cons
- No custom recommendation
- No research reports
- Absence of stocks and market tips
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Angel One – Top 10 Discount Brokers
Founded in 1987 by the visionary Dinesh Agarwal, this discount broker has won the hearts of millions of investors.
Angel One ranks second on this Top 10 Discount Brokers list, with 42 lakh+ active clients in its network. If you choose Angel One, you get free account opening charges.
The delight continues with their annual maintenance charges (AMC). For a modest Rs. 240 per year + GST, the first year is free.
Angel offers free delivery charges for equity transactions. One is like a smooth ride through the trading landscape.
But wait, there’s more! For equity intraday trades, they charge a mere Rs. 20 per trade or 0.25%, whichever is lower.
Pros
- A multi-asset trading platform
- Good educational material
- Very low charges for long and short positions
- Good customer support
- An old name in this sector
Cons
- Only available for Indians
- Account opening isn’t free.
- No flexible brokerage plans
Upstox – Discount Brokers in India
Founded in 2011 by Raghu Kumar, Ravi Kumar, and Shrinivas Vishvanath, Upstox has carved its path in the financial world.
Upstox welcomes new investors with a free account-opening process, a breath of fresh air in the stock market, where small fees can weigh you down.
Moreover, you pay a small fee of just Rs. 150 per year plus GST for account maintenance charges. With a flat rate of just Rs. 20 per trade, Upstox charges are the same for both delivery and intraday positions.
It may seem like a delicious deal, but other discount brokers offer a no-charge policy for delivery positions. Still, there are many other good reasons to join one of India’s most famous discount brokers.
Pros
- The broker has support from major industrialists, like Ratan Tata.
- Account opening is free of charge.
- Available bracket and cover orders
- AMCs are fairly cheap.
- A multi-asset trading platform
Cons
- No research report or stock tips
- Delivery order charges are high.
- It isn’t a bond investment platform.
Groww – Best Discount Brokers in India
With over 51 lakh active clients, Groww has established itself as a trusted name in the industry.
First, Groww’s app trading services have earned a reputation as the most user-friendly on the market.
In 2016, Lalit Keshre planted the seeds of Groww, which later grew into an amazing destination and was listed among the best discount brokers in India.
However, low fees and free account-opening charges are the main drivers. Equities, mutual funds, IPOs, and more make up a buffet of trading opportunities at Groww.
Their delivery and intraday charges are just Rs. 20 per trade, or 0.05%, which keeps your wallet happy.
Pros
- A mobile-champion trading platform
- Zero account opening charges
- Beginner-friendly interface
- Multiple trading instruments
- Unified platform for IPOs, MFs, stocks, etc.
Cons
- No dedicated
- Technically need improvements
- Just a beginner-friendly platform
5Paisa – Top Discount Brokers in India
In 2016, Nirmal Jain laid the foundation for a stock broker called 5Paisa, aimed at making stock market investments cheaper and more convenient.
IIFL’s backing further helped this platform become a popular site for traders and investors.
As a result, 5Paisa burst onto the list of top discount brokers in India, leaving the existing competition in the dust. It is the go-to platform for over 10 lakh investors.
But it didn’t sprout overnight, the broker said. With smart strategies like free account opening and affordable brokerage, the broker has seen growth like no other.
However, charges are still similar to those of other discount stock brokers.
Pros
- 5Paisa equips investors with the knowledge and guides
- Brokers have a bouquet of investment choices.
- A strong parent company backing them
- Average AMC rate
- Digital gold investment enabled
Cons
- No customized recommendation
- Stock market tips are absent.
- No research features
Paytm Money – Top 10 Discount Brokers in India
Let’s uncover what makes Paytm Money a standout player in the investment market. The digital broker’s popularity shows in its strong client base of over 6 lakhs.
Set up in 2019 by the visionary Vijay Shekhar Sharma, who is also the founder of the famous Paytm app. The company understands the value of keeping costs low for Indian investors.
That’s why they provide broking services at a pocket-friendly charge of only Rs. 15 per trade, or 0.05% of the transaction value. Among the Top 10 Discount Brokers in India, they have the lowest charge rate.
Moreover, account opening charges are a nominal Rs. 200. For these reasons, Paytm Money stands out in the investment market.
Pros
- One of the lowest brokerage charges
- No AMC
- Instant account opening
- Paytm Payment Bank Integration
- Invest in digital gold alongside MF and NPS.
Cons
- Technically need improvements
- NRI trading absent
- Zero margin facility
Nuvama – Best Discount Broker in India
With over 2.19 lakh active clients, Nuvama shows its loyalty and a growing reputation in the industry.
When it comes to account opening charges, Nuvama goes the extra mile by offering them for free. First, Nuvama stands out with some of the lowest rates in the industry.
Nuvama charges a meagre Rs. 10 per trade for delivery and intraday trading. In other words, you don’t get baffled by complex fee structures.
Coupled with a user-friendly interface, the candidates on this Discount Brokers List make trading a joyous and hassle-free endeavour.
However, the Nuvama trading app also boasts positive ratings from 2.2 million users. Founded by Rashesh Shah in 2008, the broker has emerged with a credible presence in the stock market.
Pros
- The lowest brokerage rates
- Stock tips
- Customized recommendation
- Paid research report
- Dedicated trading terminals
Cons
- Limited assets to trade
- No bond investment
- Nothing is free except for AMC
Fyers – Top Discount Broker in India
With a customer base of 1.62 lakh+ active clients and a commitment to simplicity, Fyers is another prominent brand name making waves in the industry.
Firstly, let’s talk about the perks of opening an account with Fyers, and it’s absolutely free! There are no upfront charges to worry about, giving investors a hassle-free start.
Since 2015, Fyers has kept things cost-effective. They offer free annual maintenance charges (AMC) for a limited period, making it even more enticing to join.
When it comes to trading, Fyers keeps it sweet and simple. Similarly, they offer free delivery charges and charge just Rs.20 per trade or 0.03%, whichever is lower, for intraday trading.
Beyond a doubt, this platform is worthy of a top discount broker comparison.
Pros
- Open an account for free.
- Zero brokerage on cash and carry trades
- Dedicated trading terminal
- Stock tips are available.
- Research reports are available
Cons
- A lesser-known stock broker
- No bond investment
- Portfolio details are unavailable
Alice Blue – Best Discount Brokerage
Alice Blue also stands out as an emerging discount broker that provides a cost-effective trading experience for its 1.41 lakh+ active clients.
Like other rankers on this list, they have carved a niche for themselves in the modern stockbroking market. Alice Blue tries to take the lead by offering free account opening.
Moreover, the best discount brokerage ensures a long-term association with its clients by staying affordable in various other service areas. In short, Alice Blue tries its best to keep its charges as low as Rs.15 per trade.
Set up in 2006 by Sidhavelayutham M., Alice Blue’s customer-centric approach, combined with its attractive pricing structure and high-quality services, has positioned it as one of India’s top discount brokers.
Pros
- One of the lowest brokerage charges
- Free equity delivery
- Free AMC
- Trade multiple assets.
- Good customer support
Cons
- No research reports
- No stock tips
- Global indices are also absent
Espresso – Top 10 Discount Brokers
Established in 2020 by the visionary Jaideep Arora, this comparatively new player has been making waves in the market.
It’s like they’ve hit the ground running, gained traction during the discount broker trend, and undertaken small market endeavours that have made them a proud broker to over 1.03 lakh+ customers in a short time.
However, the broker doesn’t even clearly set its service pricing. Like many other top discount brokerage firms, they charge just Rs. 20 per trade.
With a growing client base, affordable account opening charges, modest AMC, free delivery charges, and competitive intraday charges, Espresso is brewing up a storm in the world of discount brokers.
Pros
- Free delivery orders
- Interactive charts
- Free AMC
- Technical analysis reports
- Overall good user experience
Cons
- Standard trading rate
- No bond investment
- No research report or stock tips
Best Discount Broker in India – Conclusion
If you are all set to dip your toes into the giant pool of the investment market, it’s best to go with the best discount broker in India.
This will prevent your financial profile from sinking due to unwanted costs and fees.
The review above compiles a list of the top stock brokers offering low-cost dealings. So, choose the one that suits you best and open your brokerage account.
FAQs on Discount Brokers in India
Here is the list of FAQs related to the top ten best discount brokers in India:
How to find the best discount brokers?
However, this can be a big riddle, but if you are taking the help of trusted reviews, you will certainly find the needle in a haystack. Ideally, low-cost services are the main trait of a discount broker.
Which is the top discount broker in India?
In terms of status, certainly Zerodha, Upstox, and Angel One lead the league. But Nuvama offers the biggest discount by charging a mere Rs 10 per trade.
Which is the best online discount broker?
Considering overall features, facilities, and tech work, Zerodha and Angel are cut above the rest. However, Upstox and 5paisa are also doing well.
Which is the best discount broker for beginners?
Combined features and affordability make Groww and Zerodha suitable for beginners. However, this is because both platforms offer beginner-friendly options and easy-to-use mobile apps.
Which are the Top 3 Discount Brokers for Traders?
The top 3 discount brokers for traders depend on your preferences. Yet, if you want to find a suitable alternative, Zerodha, Angel One, Upstox, and 5Paisa are the ones to consider for your best trade.
Which discount broker is best for investors?
As an investor, you will look for long-term investment opportunities and cheaper services. Therefore, you may find Zerodha, Angel One, and Alice Blue your go-to options, as the trio offers charge-free services for delivery orders.
Which discount broker is best for an IPO?
Any discount broker providing up-to-date details about the initial public offering is a go-to source. Groww currently offers the best IPO services. But other platforms are also excellent.
Which are the top 5 discount brokers for MF Investment?
Espresso, Nuvama, 5Paisa, and Angel One are popular discount brokers carving a niche in the MF investment space. Moreover, Groww is also an ideal choice.
Which are the top 5 discount brokers in India?
The leading discount brokers in India are Zerodha, Upstox, Groww, Angel One, and Paytm Money, each gaining traction for its unique features.
Where can you compare discount brokers?
To compare discount brokers, you can look at our comparison table, which provides a brief, transparent comparison of popular brokers.