|Zipper trade||Free||RS. 15/- OR 0.01%, Whichever Is Lower|
|Zerodha||Rs 200||Rs 20 or 0.01% Whichever Is Lower.||Open Account|
|Wisdom Capital||Free||0.00 in all NSE ,BSE FNO MCX all segments||Open Account|
|SAS Online||Rs 400||Rs 9 per trade or 0.07% per trade.||Open Account|
|RKSV Security||Zero for ISB readers||Five trade free every month. Rs 20 per trade after that.||Open Account|
|Trade Smart Online||Rs 400||Pay maximum of Rs 15 per order.||Open Account|
|TradeJini||Rs 300||Rs 20 per trade.||Open Account|
|Ventura Securities||Rs 3500 but it is refundable||Rs 50 to Rs 18 per option
Intraday from 1 paise to 3 paise.
|TradePlus Online||Rs 499 but it is redeamable||Unlimited commodity brokerage for Rs 99.||Open Account|
Discount brokers are nobody but SEBI registered brokers who offer very less brokerage or no brokerage at all. Just because the charges are as good as nothing, human interference is also negligible. This results in online trading or automated services, which in turn is also beneficial for the investors.Not only trading but even account opening has become paperless and facilitates opening of trading account in just 15 minutes. Some of the leaders in this segment are Zipper trade, Zerodha, Tradejini, RKSV and others.
GOOD & BAD
Discount brokerage segment not only helps in saving lot of money for the investor in form of lower transaction cost but also provides safety. This involves huge investment in form of technology, which ensures that only the best in industry can provide the platform. Discount brokers provide trading platform of trader’s choice and no advisory tips. This can be one of the shortcomings on brokers part. Normally an investor gets the leverage of advice from traditional brokers, which is not possible in discount brokerage system.
FEATURES TO LOOK FOR
One must consider following points while choosing the discount broker
1. Other fees or charges – many brokers will have some hidden charges like account closure charges, annual fees, minimum balance etc.
2. Online account opening – most of the discount brokers provide low brokerage but do not give online paperless account opening facility. Only a few provide paperless account opening for trading account.
3. Other investments – not all discount brokers provide all investment options.
4. Services – these are not only availability of all segments but also customer care back up during trading hours. Online support is also a critical part of the services to be provided by the discount brokers.