11 Best Discount Brokers in India


The Indian stock market is one of the fastest growing in the world, and there are numerous brokers for you to choose from. Whether you’re a newbie or an experienced trader, it’s essential to find a broker that suits your needs. In this article, we’ll look at what makes a good discount broker and how to choose one that best fits your trading needs.

What is a Discount Broker?

A discount broker is an intermediary who charges you less than a regular broker while providing all the services that a regular broker would provide. For example, instead of paying $10 per trade (which comes down to $5 after deducting commissions), you might pay $5 per trade with a discount broker. The reason for this difference in fees is that discount brokers operate on smaller margins and their services are cheaper than those offered by regular brokers.

The following are the 11 best discount brokers in India.

1) Zerodha

Zerodha is an online brokerage firm that was founded in 2010 and is based in Bangalore, India. The company has been growing rapidly since its inception, and it now serves more than 100,000 clients. The company offers a wide range of services, including stock trading and mutual fund investment.

2) Trade Smart Online

Trade Smart Online is another discount brokerage firm that’s based in India. It was established by professionals who have years of experience in the financial services sector. The company offers a range of services to its customers such as stock trading, mutual fund investments, and forex trading among others.

3) Capital First Securities Ltd

Capital First Securities Ltd is a discount broker in India that provides its clients with various types of securities such as equity shares, mutual funds, and bonds among others for investment purposes. The company has been around for over three decades now, and it has accumulated a wealth of knowledge about the financial markets during this time period which enables it to provide quality service to its customers

4) Religare Securities

Religare Securities Limited (RSL) is India’s most trusted and preferred broker, with a market share of 6.7% of the total equity trading in India. It offers a wide range of investment solutions across Mutual Funds, Equities, Derivatives, and more. It also provides a host of services such as online trading and portfolio management solutions to help investors meet their financial goals effectively.

5) Motilal Oswal Securities

Motilal Oswal Securities Limited (MOSL) was established in 1986 by Mr. Motilal Oswal with the objective of providing customers with innovative solutions and value-added services in the capital markets, including equity broking, research, investment advisory services, and portfolio management services. MOSL caters to retail investors as well as institutional clients across India through its branch network spread across 13 cities with over 2200+ representatives and over 30 branches including Mumbai, Delhi NCR, Patna, Jaipur, Chandigarh, etc.

6) Sharekhan

Sharekhan is an Indian discount broker founded by Raman Roy in 1991 as a member of the National Stock Exchange (NSE). The company provides trading services for stocks, commodities, derivatives, and currencies across multiple asset classes including equities (both equity futures & options) as well as commodities like gold & silver through its web-based trading platform called Sharekhan Online Trading Platform (SHOP).

7) HDFC Securities

HDFC Securities Limited is an Indian financial services company based in Mumbai, Maharashtra, India. It is a subsidiary of Housing Development Finance Corporation Limited (HDFC) and acts as its primary securities arm for retail investors. HDFC Securities was ranked number one in terms of market share by volume in the retail segment by the National Stock Exchange of India (NSE) for the year 2016-17.

8) Divya Himachal Futuristic Securities Ltd

Divya Himachal Futuristic Securities Ltd (DHFLSL) is a securities firm offering retail trading services to clients across India through its network of over 400 branches spread across more than 20 Indian states including Delhi NCR, Uttar Pradesh, Madhya Pradesh, Rajasthan, and West Bengal. The company was founded in 1992 as a joint venture between Divya Himachal Finance Ltd (DHFFL) & Future Capital Holdings Limited (FCHL). DHFLSL is registered with SEBI under the category IA1.

9) SBI Securities:

SBI Securities is one of the largest players in the Indian financial market and has been in operation for over 35 years now. They are part of State Bank Group which provides them with a strong infrastructure and support from their parent company. The brokerage firm offers both online as well as offline trading services to its clients including mutual funds, equity, options, and commodities trading. They provide advanced trading tools like live charts, news, and alerts on mobile phones which make trading easy for everyone including beginners.

10) ICICI Direct:

ICICI Direct is one of India’s leading online brokers who have been operating since 2001 and has over 1 million customers across the country. Their website is user-friendly and offers all types of services related to investments including mutual funds, stocks, bonds, commodities, etc. They offer their services through both offline as well as online modes so that customers can choose whatever suits them best

11) Chennai Securities

Chennai Securities is one of the oldest discount brokerages in India, catering to retail clients since 2001 and institutional clients since 2004. They have over 6 lakh customers across 1100 cities and offer zero brokerage for all stocks under Rs 10 per share; unlimited trades at Rs 120 per month and Rs 5 per trade thereafter; and cashless trading for all stocks under Rs 10 per share at no cost to their investors whatsoever!


We hope you found the list useful. It is not an easy task to select the best among so many choices. With this blog, we wanted to make it easier for you to find a discount broker that would fit your needs. So, this was the list of best discount brokers in India. Here you can invest your money in a very secure environment with the help of ease-of-use in transactions for your convenience. Hope you liked our collection and please share it with others as well.