Top Discount Brokers To choose From in India – 2025

Trading Account provides a gateway/ platform for trading different instruments like shares, MFs, F&O, commodities, currencies, etc. Demat Account is like a bank locker where these instruments are stored in a dematerialized form.

It is possible to have your Demat and trading accounts with different brokers. There’s no restriction on having multiple trading and Demat accounts, as long as each Demat account is with a different Depository Participant

There are two types of Trading + Demat accounts – Discount brokers & Full-service brokers.

Discount brokers offer several key benefits over full-service brokers, primarily focused on cost savings and ease of use for self-directed investors. These benefits include lower trading fees, user-friendly platforms, and the ability to trade a wide range of securities. 

Types of Charges:

Demat and trading accounts have various associated charges. These include account opening fees, annual maintenance charges (AMC), brokerage fees, transaction charges, and other statutory charges like STT, GST, and stamp duty. Additionally, there are charges related to dematerialization, rematerialization, and pledge/unpledge of securities. 

What is MTF?

In the context of stock markets, MTF typically stands for Margin Trading Facility, which allows investors to buy securities by borrowing funds from their broker, effectively using leverage.

• Example:

If an investor wants to buy 100 shares of a company at ₹1000 each, and the broker offers a 50% margin, the investor only needs to pay ₹50,000 (50% of the total ₹100,000) while the broker funds the remaining ₹50,000. 

1. Zerodha (Discount Broker – low brokerage)

• Equity delivery: ₹0 brokerage
• Intraday/F&O: ₹20 per order or 0.03%, whichever is lower
• Offers advanced charting tools, TradingView integration, robust mobile/web app, and extensive learning via Varsity
• Best for active traders & cost-conscious investors.

🥈 Groww = 10M active invetors (Demat + trading)

• Equity delivery: ₹0
• Intraday/F&O: ₹20 per trade
• Intuitive UI, easy paperless onboarding, integrated mutual fund, and US equity investing
• Perfect for beginners and long-term investors.
• USP – Covers Stocks, F&O, MFs, ETFs, IPO, Credit
• Stocks Screener
• Share market insights like Index movement, Most bought, most traded, Top gainers/ losers, News

🥉 Upstox- 1.3Cr+ users (demat + Trading)

• Equity delivery: ₹0
• Intraday/F&O: ₹20 per order
• Provides advanced platform features (Pro web/app, TradingView charts) and fast execution

• Great for active traders seeking tech-savvy tools

4. Angel One – 3cr users (Demat + Trading)

• Tools to make informed decisions
• Gives insight into Top 20 stocks
• News, Knowledge centre (educational hub)
• Realtime price charts for traders
• Portfolio advisory (access to well-researched portfolios by experts)

Choosing a suitable Depository Participant (DP)

This is one of the more challenging steps, and it’s advisable to use a well-established bank, brokerage firm, or financial institution that’s certified by the NSDL or CDSL.

Analyse costs – From the setup fees, transaction costs, to annual maintenance charges, Demat account providers levy several fees. Try to choose the most cost-effective option for opening a Demat account.

Smooth usability – A user-friendly online trading platform can make accessibility easier. Choose a DP that offers an intuitive interface along with proper technical assistance.

Security measures – Check if your DP is SEBI registered and if they provide a safe medium to protect your money from fraudulent acts and hacking.

Nomination facility – Some DPs allow you to add a nominee, which simplifies asset transfer processes if the need arises. This functionality can be important for long-term planning.

Client-friendly services– A DP should allow management through a mobile app, online, and through a responsive support system so that customers can conveniently control their investments from anywhere.