Best discount broker in India
Discount brokers charge a flat fee per executed order — typically ₹20 — instead of a percentage of turnover, with no research or advisory layer. They are the default pick for self-directed investors and active traders. Ranked here by NSE active clients among brokers whose intraday brokerage is ₹25 or less flat.
Filter: intraday brokerage ≤ ₹25 flat per order (discount-broker threshold). Rank: NSE active client count.
- #1
First-time and casual investors who want one clean app for stocks, mutual funds and FDs.
Headline flat feeIntraday ₹20 - #2
Self-directed traders and investors who prefer flat-fee pricing and rich tooling over advisory hand-holding.
Headline flat feeIntraday ₹20 - #3
Investors who want a discount-priced flat-₹20 plan with full-service product breadth in one place.
Headline flat feeIntraday ₹20 - #4
Active traders who want simple flat-₹20 pricing and a fast mobile-first app.
Headline flat feeIntraday ₹20 - #5
Kotak Securities (broking arm of Kotak Mahindra Bank) operates on the Kotak Neo platform with four plans: Trade Free (0.20% delivery, ₹10 per order intraday and F&O), Trade Free Youth for under-30s (free delivery), Trade Free Pro (₹249/month, 0.10% delivery), and Dealer-Assisted (0.20% delivery, 0.02% intraday/futures, ₹35 per lot options).
Headline flat feeIntraday ₹10 - #6Headline flat feeIntraday ₹20
- #7
Paytm Money is a SEBI-registered discount broker by One 97 Communications.
Headline flat feeIntraday ₹20 - #8
INDmoney is a SEBI-registered discount broker for Indian stocks (and a US-stocks aggregator on a separate product).
Headline flat feeIntraday ₹20 - #9Headline flat feeIntraday ₹20
- #10Headline flat feeIntraday ₹20
Use the brokerage calculator to compare the landed cost on a sample trade across any of these. Open the brokerage calculator.
Related rankings
Frequently asked
What people ask about best discount broker in india.
A discount broker charges a low, fixed brokerage per executed order — typically ₹20 flat — and offers self-service trading without research reports, advisory or a relationship manager. Zerodha pioneered the model in India in 2010; the rest of the industry has converged on it.
Discount brokers are dramatically cheaper for active traders and self-directed investors who do their own research. Full-service brokers (ICICI Direct, HDFC Securities, Kotak Securities, Sharekhan, Motilal Oswal) charge percentage-based brokerage but include research reports, relationship managers and physical branches. If you trade frequently or already do your own research, discount wins on math. If you need hand-holding or value research, full-service may be worth the premium.
Mostly, but not exactly. Most discount brokers charge ₹20 flat on intraday and options. Equity delivery is free on Zerodha but ₹20 / 0.1% on Groww, Angel One and others. Per-lot pricing on options varies. The all-in landed cost — brokerage plus statutory charges — is what matters; the calculator on each broker page shows it for your trade.
Yes. They are SEBI-registered, NSE / BSE members, and your demat sits with CDSL or NSDL exactly like at a full-service broker. The discount model relates to pricing and service depth, not to safety or regulation.