There are two types of brokers in India, full fledged brokers(traditional brokers) and discount brokers. I will be doing a detailed comparison of the discount brokers in India.
The two major factors that you should consider before choosing the broker is whether you are going to use it for intraday trading or for investments.
As far as making investments are concerned the reliability of the broker is very important and for intraday traders the reliability of the platforms and brokerage is very important. I have done some comparison below hope it helps.
Following are some of the best discount brokers in India
ZERODHA (advised)
https://zerodha.com/?c=PD4908
Pros :
Best discount brokerage rates 20 Rs per order
0 brokerage on delivery
Complete secure platform
Run on slow net also
Easy to function (even a class 9 student can operate trading from the kite app )
Wide variety of technical tools
Zerodha varsity . An stock trading learning initiative
Their high class services
Cons :
Some time its app shows irregularities and bugs.
Account opening charges are 400/-.
Real-time support is tricky and long waiting, no direct managers assigned.
Login process is sometimes tedious with TOTP.
Account opening https://zerodha.com/?c=PD4908
Signup and open a Zerodha trading and demat account online and start investing
STOXKART (not advised worst)
Pros:
Brokerage 15₹ per order cheapest in the industry.
0 brokerage on delivery
Unlimited trading at 1000 Rs per month no brokerage
❌No profit ❌ brokerage i.e No brokerage on loss trades in equity
but dp charges etc apllied.
BO and CO allowed
Since less people use this app never hangs
All strike price traded.
Cons:
UI needs a lot of improvement.
API’s are not very stable.
The loss trades in FNO segment are not brokerage free.
Learning materials on how to use app or website are not easily available.
Account Opening
The free account opening works only with below link normal charges are 500 Rs.
FYERS (advised to use)
https://open-an-account.fyers.in/?id=XA00095
Pros :
Best discount brokerage rates 20 Rs per order
Free Account opening
Best UI in the trading community
Free API’s to do algorithmic trades.
Brokerage returned if you win 30 days challenge. If you are consistent trader it will help you save your entire brokerage.
Marketsmith free research reports and analysis.
Tradingview charts and alerts.
Cons:
Barring support issues I could not find any cons frankly.
Account Opening
https://open-an-account.fyers.in/?id=XA00095
Even if you do not use the above referral’s for opening an account the brokerage you will pay shall be the same.
But in case you do use our referral you will be entitled to following benefits.
Free access to TELEGRAM channel
Access to real-time alerts on breakouts and price volume action
Happy Trading !!!
Ping me on whatsapp
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