Most beginner investors start their trading journey with the best broker in India like ICICI Direct, or say Edelweiss, Religare, Sharekhan, etc. (full-service stockbrokers) It is because they trade on low frequency initially and expect a decent profit on each investment. Hence, they do not bother about brokerage charges much.
However, when investors trade on high frequency and want to yield profits with small margins, they feel the need for low or zero brokerage charges. Hence, many aspiring traders performing multiple trades every day require the best discount broker in India like Wisdom Capital, which can fulfil their trading requirements.
Nevertheless, many investors prefer full-service stockbrokers as they offer research-based stock recommendations and allow investment in other financial instruments like NPS, fixed deposits, insurance, mutual funds, etc. Let's have a look at a few critical advantages of the best broker in India offering discount brokerage:
Best Discount Brokers in India:
- Low Brokerage
Brokerage charges of the best discount broker in India are relatively less than full-service stockbrokers. Below-cited are the brokerage charges of top discount stockbrokers in India:
Wisdom Capital: INR 20 per executed order
RKSV: First five orders free, and INR 20 per executed order sixth-order onwards
Zerodha: INR 20 per executed order
Tradejini: INR 20 per executed order ( For future, delivery/intraday- equity INR 20 per order or 0.01% of total turnover whichever is lower)
SAS Online: INR 9 per trade
Trade Smart Online: INR 15 per executed order
RK Global: INR 9 per trade
my Value Trade: INR 10 per trade
Achiievers Equities: INR 15 per trade
Unlimited Trades on Fixed Monthly Fees
Another significant benefit of the best discount broker in India is that it offers unlimited trades and charges a fixed monthly fee.
Wisdom Capital: INR 999 + taxes (Lifetime Validity)
SAS Online: INR 999 per month
Trade Smart Online: INR 1899 per month
RK Global: INR 999 per month
my Value Trade: INR 10,000 per year
Tradeplus online: INR 99 per month
Achiievers Equities: INR 750 per month
How does the Best Discount Broker in India survive by offering Low Brokerage Charges?
The first and most obvious question that comes in every trader's mind is how does the best discount broker in India survive by offering low or zero brokerage charges. So if you go through these stockbrokers' LinkedIn pages or websites, you will notice that they have limited staff members who manage their huge turnover each day.
On the other front, full-service stockbrokers like Edelweiss, ICICI direct, and others have multiple offices at multiple locations along with thousands of employees. However, the best broker in India offering discount brokerage manages its business with low margins and just 100-200 staff members on board.
Moreover, the best discount broker in India does not invest much on its publicity as it follows the "word of mouth advertising" wherein its customers act as advertisers and bring other individuals. Generally, it does not have the research team to provide stock recommendations/tips to its clients. Hence, the best broker in India offering discounted brokerage manages to survive even in the tough competition.
