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For those who are interested in making money by trading stocks, commodities, derivatives (future & options) the top 5 discount trading broker apps for trading in India. But before that, let’s get a rough idea of who is a full-time and a discount broker, and how the latter is better than the former. Full-time brokers are conventional stockbrokers who provide expertise on research advisory, or personal consultations, wealth creation experience to the trader or investor community. Plus, working with a full-service broker, you can expect access to stock advisory, industry cum sector reports, and other market-based study materials once you have signed up the deal with a full-time broker. On the contrary, brokers who merchandise product orders at decreased commissions are referred to as the discount brokers. So, dealing with a discount broker gives you access to investments at cheaper rates, ensuring bigger profits gradually with time. The only setback is they don’t render private advice, consultations, or research services to the customers. Yet, they are high-end tech-driven brokers with the least operational cost. So, let’s check some of the trending broker apps for trading in India, as promised above: 1. ZerodhaZerodha was launched in 2010 by Nitin Kamath and is one of the top-ranking discount broker apps in India. The software has earned a wider clientele base of 1.5 million+ clients. Around 15% of its share of daily retail trading volumes over the Indian Stock Market. Features
Therefore, if you prefer opening Demat, trading, and commodity account with Zerodha, the overall charges for opening an account will be Rs 300. Plus, the yearly account maintenance cost for the Demat account is Rs 300. Facilities offered: Zerodha provides investment cum trading services in equity, currency, derivatives, communities, and mutual funds. Pros:
Cons:No research report or market advisory provided. 2. UpstoxUpstox is a steeply expanding discount broker, supported by a consortium of some top leading investors that include; Ratan Tata, Kalaari Capital, GVK Davix, and others. In 2012, Upstox was launched in the market as RKSV, which was later rebranded to Upstox by the year 2015. FeaturesFacilities offered: Trading services concerning currency, equity, and commodity
Upstox offers both basic and pro brokerage plans. Delivery trading in Rs 0 in either of these plans. Here are some Upstox brokerage charges:
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3. Angel BrokingPreviously, Angel Broking app dealt as a full-time broker and provided a percentage brokerage charge to the customers for about 20 years. However, recently in November 2019, they transformed their business model to flat rates from percentage brokerage, to contend with the increasing discount brokers, such as Upstox, Zerodha, 5Paisa, etc. FeaturesThe key benefit of trading with Angel Broking is you get recommendations or guidance to invest in the stock market besides getting companies’ research reports along with additional valuable tools and services. Facilities offered: Renders equity services, currency, commodity, life insurance, IPOs, PMS, ETFs, and Mutual Funds.
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4. 5Paisa5Paisa is yet another offering the cheapest stock brokerage across India. 5Paisa was launched by IIFL with the purpose of providing a low-cost brokerage platform to the customers and participating in the rapidly expanding discount broking industry. FeaturesFacilities offered: Offers services concerning mutual funds, personal loans, and insurances, apart from trading in company shares.
5Paisa renders equity trading for free along with flat brokerage in other sections. Here are the six brokerage costs proffered by 5Paisa:
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5. Trade SmartTrade smart, an India-based discount broker from Mumbai, is fit for investors/traders seeking high margin, low brokerage, plus a swift trading platform. Trade smart online is one of the age-old setups, unlike most other discount brokers, with a list of happier customers of about 50,000+ happy, with a mean daily turnover of around Rs 5000 crores. FeaturesFacilities offered: Brokerage services in F&O, commodity, stock, and currency trading segments.
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Well, there are numerous other discount brokerage apps for trading in India but these are currently trending in the market. So, if you’re a total beginner looking for the most streamlined and smooth process for your trading, then we highly recommend you using any of these listed best discount broker apps in India. The post Top 5 Discount Broker Apps for Trading in India appeared first on zELinks AMZN. Top 5 Discount Broker Apps for Trading in India posted first on https://zelinksamzn.com via Tumblr Top 5 Discount Broker Apps for Trading in India
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