Top 3 Discount Brokers in India
Discount brokers have gained immense popularity in India since early 2010. Â
Here are the top 3 discount brokers in 2021.
Zerodha Â
The company was founded by Nitin Kamath in 2010 and is the pioneer in the area of discount broking.
The name zerodha as per their website was coined using two words Zero and Rodha( Sanskrit word for hurdle). Their disruptive pricing model and the in house technology has made them today one of the top stock brokers in India.
As per their website they have over 4+ million clients and growing. The charges as per Zerodha website are as given below.
| Zerodha charges | Equity delivery | Equity intraday | Equity futures | Equity options |
| Brokerage | Zero Brokerage | 0.03% or Rs. 20/executed order whichever is lower | 0.03% or Rs. 20/executed order whichever is lower | Flat Rs. 20 per executed order |
| STT/CTT | 0.1% on buy & sell | 0.025% on the sell side | 0.01% on sell side | 0.05% on sell side (on premium) |
| Transaction charges | NSE: 0.00345% | NSE: 0.00345% | NSE: 0.002% | NSE: 0.053% (on premium) |
| BSE: 0.003% | BSE: 0.003% | |||
| GST | 18% on (brokerage + transaction charges) | 18% on (brokerage + transaction charges) | 18% on (brokerage + transaction charges) | 18% on (brokerage + transaction charges) |
| SEBI charges | ₹5 / crore | ₹5 / crore | ₹5 / crore | ₹5 / crore |
| Stamp charges | 0.015% or ₹1500 / crore on buy side | 0.003% or ₹300 / crore on buy side | 0.002% or ₹200 / crore on buy side | 0.003% or ₹300 / crore on buy side |
Source – www.Zerodha.com
Apart from the above the following are the charges
DP (Depository participant) charges   ₹13.5 + GST per scrip (irrespective of quantity), on the day, is debited from the trading account when stocks are sold. This is charged by the depository (CDSL) and depository participant (Zerodha).
Pledging charges ₹30 + GST per pledge request.
AMC (Account maintenance charges) ₹300/year + GST charged quarterly
Corporate action order charges  ₹20 plus GST will be charged for OFS / buyback / takeover / delisting orders placed through Console.
Off-market transfer charges  ₹25 or 0.03% of the transfer value (whichever is higher).
Physical CMR request   First CMR request is free. ₹20 + ₹100 (courier charge) + 18% GST for subsequent requests.
Payment gateway charges   ₹9 + GST (Not levied on transfers done via UPI)
Upstox
Formerly called RKSV Securities, the firm was founded as a proprietary trading firm in 2008 and entered the retail brokerage space in 2012.
They rebranded as UpStox in 2015. Founded by Ravi Kumar and Shrini Vishwanath the company is backed by Mr. Ratan Tata among others.They have grown exponentially and have over 1.5 million active clients as per a report .
The brokerage and other charges charged by UpStox are as given below.
Upstox has two brokerage plans – Basic and UpstoxPro
Â
| Upstox Charges | Equity Delivery | Equity Intraday | Equity Futures | Equity Options |
| Brokerage | Zero brokerage | Rs. 20 per executed order or 0.05% (whichever is lower) | Rs. 20 per executed order or 0.05% (whichever is lower) | Flat Rs. 20 per executed order. |
| STT/CTT | 0.1% on both buy & sell. | 0.025% only on sell. | 0.1% only on sell. | 0.1% only on sell. |
| Transaction Charges | NSE: 0.00345% per trade on buy & sell. | NSE: 0.00345% per trade on buy & sell. | NSE: Exchange turnover charge: 0.0020% | NSE: Exchange turnover charge: 0.053% |
|  | BSE: charges vary as per the scrip group | BSE: charges vary as per the scrip group | Clearing charge: 0.0002% | Clearing charge: 0.005% |
| Demat transaction charges | Rs. 18.5 per scrip per day only on sell. | No charges | No charges | No charges |
| GST | 18% (on brokerage + transaction + demat charges) | 18% (on brokerage + transaction charges) | 18% (on brokerage + transaction & clearing charges) | 18% (on brokerage + transaction & clearing charges) |
| SEBI Charges | Rs. 15/crore | Rs. 15/crore | Rs. 15/crore | Rs. 15/crore |
| Stamp Charges | https://upstox.com/tools-and-calculators/brokerage-calculator/ | Â | Â | Â |
5 Paisa Â
Another player that is very popular in the discount broker space is 5 Paisa.
It has been promoted by India Infoline (IIFL) and started operations in 2016.
IIFL brings the stability of being a public limited company and 5paisa as a discount brokerage product offers top of line trading clients to the clients. Being a part of IIFL group, 5Paisa website offers much more than just Stock Trading.
You can get the advisory services if you want, buy MF, invest in international products, buy health insurance, car insurance etc. 5 Paisa is a strong contender that ranks very high in the list of discount brokers in India. This is also referred as the leading discount broker, next to Zerodha with an active client base of close to 1 million.
There are different plans available and accordingly there are different charges that are levied.
| Types of Charges | Equity Intraday | Equity Delivery | Derivatives | Currency | Commodities |
| Transaction Charges | 0.00325% (NSE) | 0.00325% (NSE) | 0.0019% (Future) | 0.0019%(Future) | Grp A (28 Commodities) 0.0026% |
| Â | 0.00300% (BSE)* | 0.00300% (BSE)* | 0.05% (Options) | 0.05% (Options) | Grp B (4 Commodities) BLACK PEPPER – 0.00005% BRASS – 0.0005% CASTORSEED – 0.0005% RBDPALMOLEIN – 0.001% |
| Securities Transaction Tax (STT) | 0.03% | 0.10% | 0.01% (Sell Future) | 0 | NA |
| Â | Â | Â | 0.05% (Sell Option) | Â | Â |
| Â | Â | Â | 0.125% (On exercise) | Â | Â |
| Commodity Transaction Tax (CTT) | NA | NA | NA | NA | 0.05% (Sell Option) |
| Â | Â | Â | Â | Â | 0.0001% (On exercise purchaser) |
| Â | Â | Â | Â | Â | 0.01% (Sell Future) |
| Stamp Duty | 0.003% or Rs. 300 / crore on buy side | 0.015% or Rs. 1500 / crore on buy side | 0.002% or Rs. 200 / crore on buy side (Future) | 0.001% or Rs. 10/ crore on buy side | Â |
| Â | Â | Â | 0.003% or Rs. 300 / crore on buy side (Options) | Â | 0.002% or Rs. 200 / crore on buy side (Future) 0.003% or Rs. 300 / crore on buy side (Options) |
| SEBI Fees | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Source www.5paisa.com/charges
Other Charges
The other charges that are levied are
Demat maintenance changes – for holding above 200,000 the charges are Rs 25 per month
Dematerialization charges – rs 15 per certificate+Rs40 for courier
Call and trade – Rs 100 per call for trading
Pledge charges – Rs 50 per scrip
5 Paisa offers two more plans besides the basic plan
–Â Â Â Â Â Power Investor Pack This has a charge of Rs 499 per month and gives advisory calls, discounted brokerage, portfolio analysis
–     Ultra trader Pack  This has a charge of Rs 999/- per month and gives free brokerage, advisory calls,higher exposure , research and much more.
The broker selection is entirely dependent upon you and your needs.
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Top 3 Discount Brokers in India
Discount brokers have gained immense popularity in India since early 2010. Â
Here are the top 3 discount brokers in 2021.
Zerodha Â
The company was founded by Nitin Kamath in 2010 and is the pioneer in the area of discount broking.
The name zerodha as per their website was coined using two words Zero and Rodha( Sanskrit word for hurdle). Their disruptive pricing model and the in house technology has made them today one of the top stock brokers in India.
As per their website they have over 4+ million clients and growing. The charges as per Zerodha website are as given below.
| Zerodha charges | Equity delivery | Equity intraday | Equity futures | Equity options |
| Brokerage | Zero Brokerage | 0.03% or Rs. 20/executed order whichever is lower | 0.03% or Rs. 20/executed order whichever is lower | Flat Rs. 20 per executed order |
| STT/CTT | 0.1% on buy & sell | 0.025% on the sell side | 0.01% on sell side | 0.05% on sell side (on premium) |
| Transaction charges | NSE: 0.00345% | NSE: 0.00345% | NSE: 0.002% | NSE: 0.053% (on premium) |
| BSE: 0.003% | BSE: 0.003% | |||
| GST | 18% on (brokerage + transaction charges) | 18% on (brokerage + transaction charges) | 18% on (brokerage + transaction charges) | 18% on (brokerage + transaction charges) |
| SEBI charges | ₹5 / crore | ₹5 / crore | ₹5 / crore | ₹5 / crore |
| Stamp charges | 0.015% or ₹1500 / crore on buy side | 0.003% or ₹300 / crore on buy side | 0.002% or ₹200 / crore on buy side | 0.003% or ₹300 / crore on buy side |
Source – www.Zerodha.com
Apart from the above the following are the charges
DP (Depository participant) charges   ₹13.5 + GST per scrip (irrespective of quantity), on the day, is debited from the trading account when stocks are sold. This is charged by the depository (CDSL) and depository participant (Zerodha).
Pledging charges ₹30 + GST per pledge request.
AMC (Account maintenance charges) ₹300/year + GST charged quarterly
Corporate action order charges  ₹20 plus GST will be charged for OFS / buyback / takeover / delisting orders placed through Console.
Off-market transfer charges  ₹25 or 0.03% of the transfer value (whichever is higher).
Physical CMR request   First CMR request is free. ₹20 + ₹100 (courier charge) + 18% GST for subsequent requests.
Payment gateway charges   ₹9 + GST (Not levied on transfers done via UPI)
Upstox
Formerly called RKSV Securities, the firm was founded as a proprietary trading firm in 2008 and entered the retail brokerage space in 2012.
They rebranded as UpStox in 2015. Founded by Ravi Kumar and Shrini Vishwanath the company is backed by Mr. Ratan Tata among others.They have grown exponentially and have over 1.5 million active clients as per a report .
The brokerage and other charges charged by UpStox are as given below.
Upstox has two brokerage plans – Basic and UpstoxPro
Â
| Upstox Charges | Equity Delivery | Equity Intraday | Equity Futures | Equity Options |
| Brokerage | Zero brokerage | Rs. 20 per executed order or 0.05% (whichever is lower) | Rs. 20 per executed order or 0.05% (whichever is lower) | Flat Rs. 20 per executed order. |
| STT/CTT | 0.1% on both buy & sell. | 0.025% only on sell. | 0.1% only on sell. | 0.1% only on sell. |
| Transaction Charges | NSE: 0.00345% per trade on buy & sell. | NSE: 0.00345% per trade on buy & sell. | NSE: Exchange turnover charge: 0.0020% | NSE: Exchange turnover charge: 0.053% |
|  | BSE: charges vary as per the scrip group | BSE: charges vary as per the scrip group | Clearing charge: 0.0002% | Clearing charge: 0.005% |
| Demat transaction charges | Rs. 18.5 per scrip per day only on sell. | No charges | No charges | No charges |
| GST | 18% (on brokerage + transaction + demat charges) | 18% (on brokerage + transaction charges) | 18% (on brokerage + transaction & clearing charges) | 18% (on brokerage + transaction & clearing charges) |
| SEBI Charges | Rs. 15/crore | Rs. 15/crore | Rs. 15/crore | Rs. 15/crore |
| Stamp Charges | https://upstox.com/tools-and-calculators/brokerage-calculator/ | Â | Â | Â |
5 Paisa Â
Another player that is very popular in the discount broker space is 5 Paisa.
It has been promoted by India Infoline (IIFL) and started operations in 2016.
IIFL brings the stability of being a public limited company and 5paisa as a discount brokerage product offers top of line trading clients to the clients. Being a part of IIFL group, 5Paisa website offers much more than just Stock Trading.
You can get the advisory services if you want, buy MF, invest in international products, buy health insurance, car insurance etc. 5 Paisa is a strong contender that ranks very high in the list of discount brokers in India. This is also referred as the leading discount broker, next to Zerodha with an active client base of close to 1 million.
There are different plans available and accordingly there are different charges that are levied.
| Types of Charges | Equity Intraday | Equity Delivery | Derivatives | Currency | Commodities |
| Transaction Charges | 0.00325% (NSE) | 0.00325% (NSE) | 0.0019% (Future) | 0.0019%(Future) | Grp A (28 Commodities) 0.0026% |
| Â | 0.00300% (BSE)* | 0.00300% (BSE)* | 0.05% (Options) | 0.05% (Options) | Grp B (4 Commodities) BLACK PEPPER – 0.00005% BRASS – 0.0005% CASTORSEED – 0.0005% RBDPALMOLEIN – 0.001% |
| Securities Transaction Tax (STT) | 0.03% | 0.10% | 0.01% (Sell Future) | 0 | NA |
| Â | Â | Â | 0.05% (Sell Option) | Â | Â |
| Â | Â | Â | 0.125% (On exercise) | Â | Â |
| Commodity Transaction Tax (CTT) | NA | NA | NA | NA | 0.05% (Sell Option) |
| Â | Â | Â | Â | Â | 0.0001% (On exercise purchaser) |
| Â | Â | Â | Â | Â | 0.01% (Sell Future) |
| Stamp Duty | 0.003% or Rs. 300 / crore on buy side | 0.015% or Rs. 1500 / crore on buy side | 0.002% or Rs. 200 / crore on buy side (Future) | 0.001% or Rs. 10/ crore on buy side | Â |
| Â | Â | Â | 0.003% or Rs. 300 / crore on buy side (Options) | Â | 0.002% or Rs. 200 / crore on buy side (Future) 0.003% or Rs. 300 / crore on buy side (Options) |
| SEBI Fees | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Source www.5paisa.com/charges
Other Charges
The other charges that are levied are
Demat maintenance changes – for holding above 200,000 the charges are Rs 25 per month
Dematerialization charges – rs 15 per certificate+Rs40 for courier
Call and trade – Rs 100 per call for trading
Pledge charges – Rs 50 per scrip
5 Paisa offers two more plans besides the basic plan
–Â Â Â Â Â Power Investor Pack This has a charge of Rs 499 per month and gives advisory calls, discounted brokerage, portfolio analysis
–     Ultra trader Pack  This has a charge of Rs 999/- per month and gives free brokerage, advisory calls,higher exposure , research and much more.
The broker selection is entirely dependent upon you and your needs.
