Top Discount Brokers in India 2023

Created on 21 Apr 2023

Wraps up in 5 Min

Read by 1.8k people

Updated on 10 May 2023

A discount broker is a financial services firm that charges lower fees than traditional full-service brokers, but still provides its customers with investment advice and access to the same markets. Discount brokers often offer free trades and other perks in exchange for lower commission rates, which can save you money if you're willing to do some research on your own before making trades.

Discount brokers are useful for common citizens because they allow investors who don't have much experience or knowledge about investing, in stocks or other securities (such as bonds), access to the same markets as more experienced investors. This means that anyone can invest in stocks without needing millions of dollars in capital!

Best Discount Brokers in India

The best discount brokers in India are:

The rest of this guide will help you choose the right broker for your needs, whether it's Zerodha or one of these other options.

1. Zerodha

Zerodha is an Indian brokerage firm that offers a range of services to investors. The company was founded in 2010 by Nithin Kamath, who was previously a trader at Goldman Sachs. Zerodha's focus is on providing its customers with the best possible execution quality, low costs and excellent customer service. 

With the account opening charge of Rs 300 only, Zerodha is one of the most chosen Discount Broker in India in 2023. Along with such low charges, there are plenty of reasons for this broker to be such a favorite. 

Key highlights of Zerodha:

2. Groww

Groww is a robo-advisor that offers a suite of investment tools, including ETFs and mutual funds. It also provides an online platform for you to manage your money. Users can create custom portfolios that can be tailored to fit their individual needs and goals, especially a portfolio for ”high return funds”.

Key highlight of Groww:

3. Angel One

Angel One is a discount broker that offers a wide range of investment products, including stocks and ETFs. The company was founded in 2009 by two former financial advisors who wanted to provide investors with access to professional-level investment advice without the high fees associated with traditional brokers.

Angel One offers its services through an online platform, which can be accessed from any computer or mobile device with internet access. 

Key highlight of Angel One:

4. Upstox

Upstox is a discount broker that offers low-cost trading and commission-free ETFs. The company was founded in 2012, but it has been around for more than a decade, which means that it has a long track record of providing investors with great service. 

Upstox offers its services through an online platform that can be accessed from any computer or mobile device with internet access. Upstox is owned by BlackRock, which means that it benefits from the parent company’s size and expertise in the financial world.

Key highlights of Upstox:

5. 5paisa

5paisa is a discount broker that offers free demat account, low brokerage charges and easy to use trading platform. 5paisa is one of India's biggest discount brokers and offers a wide range of investment opportunities.

Key highlights of 5paisa:


If you are looking for an online platform where you can invest in stocks, mutual funds or forex trading without paying any commission charges then using a discount broker is one way to go about it. This type of service allows traders to buy shares at a lower price than what they would normally pay if they were dealing directly with their stockbroker or fund manager because there are no commissions involved when making trades through these platforms. So, go ahead and create your Demat Account at one of these Discount Brokers from Select.