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
Groww is a flat-fee broker: ₹20 / 0.1% (min ₹5) on intraday on the Flat ₹20 plan.
Headline flat feeIntraday ₹20 - #2
Zerodha is a flat-fee broker: ₹20 / 0.03% on intraday and free equity delivery on the Flat ₹20 plan.
Headline flat feeIntraday ₹20 - #3
Angel One is a flat-fee broker: ₹20 / 0.1% (min ₹5) on intraday on the Flat ₹20 plan.
Headline flat feeIntraday ₹20 - #4
Upstox is a flat-fee broker: ₹20 / 0.1% on intraday on the Flat ₹20 plan.
Headline flat feeIntraday ₹20 - #5
Kotak Securities is a flat-fee broker: ₹10 / 0.05% on intraday on the Trade Free Plan.
Headline flat feeIntraday ₹10 - #6
Dhan is a flat-fee broker: ₹20 / 0.03% on intraday and free equity delivery on the Standard plan.
Headline flat feeIntraday ₹20 - #7
SBI Securities is a flat-fee broker: Flat ₹20 on intraday on the Standard plan.
Headline flat feeIntraday ₹20 - #8
Paytm Money is a flat-fee broker: Flat ₹20 on intraday on the Standard plan.
Headline flat feeIntraday ₹20 - #9
INDmoney is a flat-fee broker: ₹20 / 0.1% (min ₹2) on intraday on the Standard plan.
Headline flat feeIntraday ₹20 - #10
5paisa is a flat-fee broker: Flat ₹20 on intraday on the Regular plan.
Headline flat feeIntraday ₹20
Best discount broker in India — charges compared
| Broker | Account opening | Demat AMC | Delivery | Intraday | Options | Intraday brokerage |
|---|---|---|---|---|---|---|
| Groww | Rs 0 (free demat and trading account opening) | Rs 0 (no annual maintenance charges) | ₹20 / 0.1% (min ₹5) | ₹20 / 0.1% (min ₹5) | Flat ₹20 | Intraday ₹20 |
| Zerodha | Free for resident individual and minor accounts (online); NRI, Partnership/LLP/Corporate accounts ₹500; HUF free online / ₹500 offline | First year free for new resident individuals; non-BSDA ₹300/year + GST from year 2; BSDA tiered (free up to ₹4 lakh) | Free | ₹20 / 0.03% | Flat ₹20 | Intraday ₹20 |
| Angel One | Zero (free) for resident trading and demat account opening | First year free; Rs 60 + GST per quarter from year 2 for non-BSDA accounts | ₹20 / 0.1% (min ₹5) | ₹20 / 0.1% (min ₹5) | Flat ₹20 | Intraday ₹20 |
| Upstox | Rs 0 (free) | ₹300/yr + GST for non-BSDA accounts; first year free for users onboarded from 14 Feb 2025 | Flat ₹20 | ₹20 / 0.1% | Flat ₹20 | Intraday ₹20 |
| Kotak Securities | ₹0 on the default Trade Free plan; ₹99 on Trade Free Youth (under 30) | ₹50/month when holdings exceed ₹1,000 on the default Trade Free plan (up to ₹600/yr); ₹0 on Trade Free Youth | 0.2% | ₹10 / 0.05% | Flat ₹10 | Intraday ₹10 |
| Dhan | Rs 0 for Individuals and HUFs | Rs 0 (lifetime zero AMC) for Individuals and HUFs | Free | ₹20 / 0.03% | Flat ₹20 | Intraday ₹20 |
| SBI Securities | Rs 0 (free online account opening per official open-account page) | ₹500/yr + GST; first year free only with a subscription plan (Plan 499 / OIOP) | 0.5% | Flat ₹20 | Flat ₹50/lot | Intraday ₹20 |
| Paytm Money | Rs 0 (free) | Rs 0 (lifetime free demat AMC) | Flat ₹20 | Flat ₹20 | Flat ₹20 | Intraday ₹20 |
| INDmoney | ₹0 (zero account opening charges for Demat + Trading) | ₹0 | ₹20 / 0.1% (min ₹2) | ₹20 / 0.1% (min ₹2) | Flat ₹20 | Intraday ₹20 |
| 5paisa | ₹0 (free trading and demat account opening) | Free for the first year; approximately ₹300 per year thereafter per third-party data | Flat ₹20 | Flat ₹20 | Flat ₹20 | Intraday ₹20 |
Use the brokerage calculator to compare the landed cost on a sample trade across any of these. Open the brokerage calculator.
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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.