Top 3 discount brokers in India
There are majority of people to whom stock market appears as a much complex thing to understand. This is the reason why many people who want to invest in the stock market never do it themselves. They used to take the help of the stock brokers. Stock brokers are the authorized persons who acts as an agent for the persons who want to invest in the stock market. They suggest and advice their clients regarding the investments and charge a specified fee for providing such services. This fee is known as brokerage. There are basically two types of brokers- Full-service brokers and discount brokers. A full-service broker is a licensed broker who along with offering brokerage services, provides other services such as retirement planning, advice, tax tips etc. While on the other hand, discount brokers are the brokers who provide the trading/brokerage services only and that too at the reduces commission rate. In this article, weare going to discuss about the top 3 discount brokers in India. So, without any further delay, let’s get started.
SAMCO: SAMCO is a famous Indian discount broking firm, which was established in the year 2015. It offers commodity and stock trading services at BSE, NSE and MCX. Moreover, loan against shares, margin funding and other financial products are also being offered by the NBFC arm of SAMCO. SAMCO also offers depository services to its customers through CDSL. The brokerage charges at which the trading services are offered to the customers are also low. It is also famous for its free trading software and high exposure. According to some reports, customers which have moved from the traditional share brokers to the SAMCO have saved more than 55% of brokerage charges. It charges a flat brokerage rate of Rs. 20 per executed transaction. It offers margin products including StockPlus, CashPlus, InstaPlus.
MyValueTrade: This discount brokerage company is a part or subsidiary of the Master Capital services Ltd., which was incorporated in the year 1985. MCSL is one of India’s leading financial services entity which is currently having a customer base of more than 1.5 lakh customers or investors. Company is operating as a discount broker under the name “mastertrust”. It enters into the sector through the MyValueTrade in year 2014. MVT offers both types of the trading plans viz. the flat fee per transaction and monthly/yearly plan offering the benefit of unlimited trading. MVT offers some of the unique features to its customers which makes it different from the competitors. Such as offering single trading and back office softwares for almost all the segments & offering flexible balance feature.
Wisdom Capital: Wisdom Capital is one of India’s top online discount brokerage firm which was established in the year 2013. This discount brokerage firm offers the brokerage services for the commodities and currencies, futures and options and stocks on the platforms like MCX, BSE and NCDEX. It offers trade execution services assisted by the brokers and fully automated online investing services to its clients. Moreover, the brokerage charges which are charged from the customers are also very less as compared to other competitors in the market. Wisdom customers can trade in almost all the agri, Non-agri commodities and metals through the trading platform offered by it.
These were the best discount broker in India. These firms offer the broking services at the nominal brokerage rates and the quality of services offered by them is also good.