Top 10 NRI Discount brokers in India, Picking a stock broker is a very important decision. A broker is going to be the person who helps you buy and sell stocks, and they can have a large impact on your success as an investor. There are a lot of different factors to consider when choosing a broker, but one of the most important is whether or not they offer discounts to non-resident Indians (NRIs).
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What are Discount Brokers in India
Investing in stock markets is one of the best options for building long-term wealth. You can even start with a small amount of money and gradually add to your investment. Discount brokers are firms that provide access to the stock market for a lower fee compared to full-service brokers. Discount brokers offer basic trading and research services while full-service brokers offer a wide range of services, including wealth management and tax-loss harvesting.
Top 10 NRI Discount Brokers in India
Choosing the right discount broker in India is becoming harder with so many options available now. This guide lists the 10 best discount brokers in India for 2022 with comprehensive research and analysis. It is essential to compare various discount brokers before finalizing on one. This guide provides an in-depth analysis of the top 10 discount brokers in India for 2022.
Zerodha
Zerodha is the largest brokerage in India. It is the largest and most popular broker, providing online flat fee discount brokerage services for investing in equity, currency, commodities, IPOs, and direct mutual funds for a flat charge.
For stock delivery transactions and direct mutual funds, Zerodha charges no brokerage. It charges a flat Rs 20 or 0.03% (whichever is lesser) every intraday and F&O trade. The highest brokerage paid by Zerodha for each transaction is Rs 20 for an order (of any size, amount, or segment).
Angel One
Angel One (Angel One), founded in 1987, is one of India’s top full-service retail brokers, providing online discount brokerage services. Stock and commodities broking, investment consulting services, margin finance, loans against shares, and financial product distribution are among the services provided by the organization.
As of June 30, 2018, Angel One had 110 branches and 11,000 sub-broker offices in 1800+ locations around India.
Angel One updated its brokerage programs in November 2019 to compete with inexpensive stock brokers like Zerodha. Angel One currently provides a flat-rate brokerage package called ‘Angel iTrade PRIME.’ Except for equity delivery, this plan allows you to trade in other sectors (intraday, F&O, currencies, and commodities) for a set of Rs 20 per trade.
Upstox
Upstox is a low-cost trading organization in India that offers trading possibilities at unbelievable pricing. The company offers trading in several areas such as stocks, commodities, currencies, futures, and options through its Upstox Pro Web and Upstox Pro Mobile trading platforms.
Kalaari Capital, Ratan Tata, and GVK Davix are among the investors of Upstox.
Trading, analysis, charting, and other advanced trading capabilities are available on the Upstox trading platform. This platform facilitates order placement using mobile phones and online browsers. The Upstox trading platform is based on Omnisys NEST OMS (Order Management System) and Omnisys NEST RMS (Record Management System) (Risk Management System).
Upstox Pro allows you to trade equity F&O, equity intraday, commodities, and currency derivatives.
ICICI direct
ICICIdirect is one of India’s leading retail stock dealers. It is a subsidiary of the ICICI Group. Over 50 lakh people use its online trading and investing services. Equity, commodity, and currency trading are available at the BSE, NSE, and MCX. The firm also provides mutual funds and initial public offerings (IPOs), fixed deposits, bonds, NCDs, wealth products, home loans, loans against securities, and so on.
The most popular service offered by ICICIdirect is its 3-in-1 account, which contains an ICICI Bank Account, an ICICI Trading Account, and an ICICI Demat account.
Edelweiss Broking
Edelweiss Broking Ltd., founded in 2008, is a full-service stockbroking business situated in Mumbai, India. The firm is a subsidiary of the Edelweiss Group, a renowned diversified financial services conglomerate founded in 1995.
Edelweiss’ Retail Broking division allows customers to invest and trade in all major asset classes, including equity, debt, mutual funds, initial public offerings (IPOs), currency derivatives, commodities, and futures and options.
This provides its customers with investment advice based on research and analysis across asset classes, trading styles, and time horizons. Edelweiss offers the most diverse range of trading solutions for all mediums (Mobile app, a website & desktop trading software). All trading platforms are equally good and simple to use, with the Edelweiss Mobile Trader app receiving the top rating in India.
Motilal Oswal
Motilal Oswal Securities Ltd. (MOSL) is a Mumbai, India-based diversified financial services corporation founded in 1987. The firm provides trading services in equity, commodities, currencies, and derivatives. It also provides Mutual Funds, IPOs, Gold, Insurance, and Fixed Income products. MOSL’s MOAMC discretionary Portfolio Management Service is well-known (PMS). Since its debut in 2003, the PMS has regularly exceeded the benchmark throughout market cycles.
Motilal Oswal’s clientele is diverse, including individual clients (including High Net Worth Individuals), mutual funds, overseas institutional investors, financial institutions, and corporate clients. This is in the Top 10 NRI Discount brokers in India.
HDFC Securities
HDFC Securities, founded in 2000, is one of India’s largest full-service stock brokers. This is a wholly owned subsidiary of HDFC Bank. Customers can trade and invest in stocks, bonds, futures, options, buybacks, mutual funds, IPOs, currency derivatives, commodities, stock portfolios, and so on. HDFC Securities is a SEBI-registered broker and a BSE, NSE, MCX, CDSL, and NSDL member.
HDFC Securities offers trading services through a variety of trading platforms, making it easy for users to invest. Customers can also invest by phone or in person at a branch.
HDFC Securities offers over 30 products and has over 1,800,000 clients from diverse industries. The firm has around 270 branches throughout India.
Navia Markets
Tradeplus is an online stock broker (a combination of a traditional and a discount broker) that provides trading and investing opportunities on the BSE, NSE, and MCX. Tradeplus is well-known for its unlimited zero brokerage trading plans, which provide unlimited trading in a few segments for a fixed monthly charge. Commodities, Equity&Options, and Currency Derivatives have unlimited trading plans available. Tradeplus also provides Demat account services for a reasonable annual maintenance fee of Rs 90. Tradeplus also provides Online Mutual Funds, Initial Public Offerings (IPOs), Bonds, and G-sec.
Navia Markets Ltd’s internet brand is Tradeplus. Navia Markets has been providing financial services since 1983 and has been a member of the NSE since 1995. In 2014, the company relaunched its services under an integrated web brand named Trade Plus. This is in the Top 10 NRI Discount brokers in India.
Choice
Choice Equity Broking Pvt. Ltd (often known as Choice Broking) is a Mumbai-based full-service stockbroking business founded in 2010. This is a subsidiary of Choice International Limited, a publicly traded financial services company founded in 1993.
Choice Broking provides online trading as well as premium financial services for a wide variety of financial products such as equity, derivatives, currency, commodities, mutual funds, wealth management, portfolio management, insurance, and loan against shares. The firm is a CDSL and NSDL depository member, as well as a member of the NSE, BSE, MCX, NCDEX, and ICEX. When compared to other full-service brokers in the business, Choice Broking’s brokerage prices are said to be among the lowest in India. This is in the Top 10 NRI Discount brokers in India.
Conclusion
NRI investment in India has grown rapidly in recent years. Even with the recent global economic downturn, foreign investment in India grew by almost 30%. In order to take advantage of this growth, many foreign investors have turned to NRI discount brokers. These brokers offer a variety of services, including online trading, which allow investors to take advantage of the Indian stock market.