Discount broking has gained a lot of importance in the past few years. We used to have only full-fledged brokers who used to charge huge brokerages for transactions in the share capital. That is when the concept of discount brokers came into the scene and we can see that many of the consumers started using their platforms as they were comparatively much cheaper.
Let’s take a look at some of the discount brokers in India:
Photo Credit- Zerodha
Zerodha was the first to introduce the concept of discount brokers in India. Zerodha was founded in 2010 by Nikhil Kamath, Nithin Kamath and Kailash Nadh. The discount broker is based in Bengaluru, Karnataka and is currently headed by Nithin Kamath. The discount broker has got physical presence in most of the major cities across India.
Zerodha charge zero brokerage on delivery of equity. For equity intraday or future, they charge 0.03% or or Rs.20 per executed trade whichever is lower. For intraday options, they charge a flat charge of Rs.20 per order. There is an account opening charge of Rs.200 and an annual maintenance charge for demat account of Rs.300+GST. They have got more than 9 lakh users and is the market leader.