A stockbroker or share broker is an individual or a firm who may provide financial advisory, investment management services and execute transactions such as the purchase or sale of stocks / shares and other investments to financial market participants in return for a commission and/or fee, which could be based on a flat rate or hourly rate.

However, a discount broker is a stockbroker who carries out buy and sell orders at a reduced commission rate. They provide no investment advice, unlike a full-service broker. Before the emergence of technology, only the rich and wealthy could afford a broker and get access to the stock market. Since then, the internet has brought an explosion of discount brokers that allow individuals with smaller capital to trade, at a smaller fee.

In 2010 the concept of discount brokerage came into India, providing many small firms and individuals the platform to open shop. From then on lots of investors and traders have switched from traditional brokers to discount brokers, as they offer 75% lesser brokerage fee and commission. They have become very popular in India as more and more people have access to the internet and several people are now investing in using their own knowledge.

The best-known discounts brokers in India are Zerodha, RKSV and Tradejini based on the returns these three are the largest. Discount brokers provide lower charges because they offer fewer employees, fewer products, and no advisory teams.

Based on the experts’ opinion in the market and offering a wide variety of brokerage plans to choose from, listed below are the top discount stock brokers in India.

Zerodha

Established in 2010 Zerodha is among the first few discount brokerage firms in India. When most of the brokerage firms were charging large amounts of money, Zerodha started charging Rs 20 per-trade that changed the entire industry.

Today, the company caters to almost 42,000 clients with an exceptional brokerage proposition a fully automated sign up with online opening form. PI  Zerodha’s trading platform has exceptional and advanced features like backtesting, advanced charting, and many more other features. With the help of this software, the trader can test multiple trading systems on multiple markets, stocks and products in a very short time.

RKSV

RKSV started its operation in 2012 and offering 3 different types of brokerage plans. Based out of Mumbai RSKV provides NEST and ODIN platform for trading. They charge Rs.20 per trade irrespective of the size of the trade. Apart from that, they also offer their clients with 5 free trades per month for life. The plans are targeted for Passive traders and Active traders with rates on per trade basis as well as a fixed amount per month per segment.

SAS Online

SAS Online, which started its discount brokerage operations in 2013, offers the cheapest brokerage service charges to trade at Rs 9 per-trade along with an exceptional proposal of an unlimited trading plan. As per the unlimited trading plan, they offer unlimited trading equity at Rs 999 per month. What’s more, unlimited trading in MCX is at Rs 999 per month and in currency is Rs 499 per month.

Trade Smart Online

Trade Smart Online was founded in 1994 is a subsidiary of VNS Finance Capital Services Ltd. and has a long track record in the Indian Stock Market. Presently, Trade Smart Online provides online brokerage services in NSE Cash, NSE Currency derivatives, NSE FNO, BSE Cash and commodities.

TradeJini

TradeJini is a discount brokerage firm that has made a mark because of their excellent customer service, offers an integrated platform for derivatives, commodities, equities, and currency with flat Rs.20 per trade. Their aim is to break the traditional wall of percentage brokerage. TradeJini also offers phone-based trading with an extra cost of Rs20. Per trade.