Best Discount Brokers in India
The scenario of stock broking in India has evolved over past decades. Conventional broking houses have transformed into institutions providing comprehensive financial services. From selling and buying stocks and securities to financial instruments, brokerage firms have become business entities today. Statistics from 2015 predicted that number of investors and accounts in Indian Stock market are expected to cross 3 crore in 2016.With its ever growing number of investors and increasing capital in market, there has been a surge in number of discount stock broking firms in India.
Though there are numerous discount brokerage firms in India, here are the top firms that you need to know about –
1. Sharekhan –Held by SSKI Group, Sharekhan is a discount retail brokerage firm based in Mumbai. It offers a wide range of investment options like mutual funds, IPOs, Equities, Futures & Options, Commodities and more. Sharekhan was acquired by BNP Paribas in 2015. This acquisition makes BNP Paribas the second largest stock broking firm in India.
2. Tradedeal – We are an online DiscountBroking Company, set up with a vision to change the online broking industry with innovative products that can make trading transparent, efficient and easy. Our company is tailor-made to encourage innovation and novelty. We dream to create a space wherein people can be financially educated and taught the ways that can help them invest in the trading market.
3. ICICI Direct – One of the best and biggest full service stock brokers in India, ICICI Direct is a subsidiary of ICICI Bank. Headquartered in Mumbai, ICICI Direct has more than 300 branches across India. Their range of service includes equity, insurance, mutual funds and more. They are known for their seamless integration and easy user interface.
4. Zerodha –Since its inception, Zerodha has emerged as the single largest discount broker in India. Zerodha was founded in 2010 and is serving more than 75000 customers across PAN India. It is founded by Nithin Kamath, a stock broker with more than 10 year experience in stock market.
5. SAS Online –First incorporated in 1995, SAS Online started its discount brokerage operations in April 2013. With more than 6000+ clients, SAS Online has clients 570 cities across India. It operates from a centralized office located in Delhi and works as an automated and computerized system.
6. Angel Broking–One of the most respected wealth management companies and respected stock broking in India, Angel Broking was started in 1987. It has more than 8500 franchisees across 900 cities in India. Angel Broking provides intuitive trading platforms for smartphones, tablets and web. They are mainly preferred by investors for their great support system.
7. ProStocks – One of the youngest companies that are rated among best discount brokers in India, ProStocks was incorporated in the year 2016. They have set a new benchmark in the industry with their low brokerage charges. They provide trading in equities, currency derivatives, futures and options and more.
8. Motilal Oswal –Rated among the oldest and trusted discount brokers in India, Motilal Oswal has been conferred with several awards and recognitions. Their huge network of more than 1900 local branches serves over 8.5 lakh customers in more than 500 cities in India. They allow their clients to trade on multiple stock exchanges in India.
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