Top 10 stock brokers in India

Updated on March 20,2017

With the increase in number of stock broker, people have a lot of option to choose from, but still it is not easy to choose. You need to be sure of what is that you want. Some pointers to keep in mind before deciding on the brokers are:-

1) Full service or discount broker: The main difference among them is full service broker would charge you brokerage as a percentage of your trade value(for ICICI it lies between .5% – .9%). while discount broker are much cheaper charging you based on the number of trade. Most of the discount brokers charges between Rs 15 to Rs 30 per trade irrespective of the trade volume. So if you are going to trade multiple times a month, go for a discount broker rather than a full service one. To understand there difference better, please have a look at the video below. [Read more…]

Zerodha review

Zerodha is India’s first and largest online discount broker operating from 2009. It was started by Mr Nithin Kamath who was himself a trader before starting Zerodha. Besides low cost which most of the discount Brokers are known for, Zerodha is also credited for its technology initiatives which it brings first to the markets.

Zerodha trading software
Desktop Based Trading: Zerodha has finally in July 2015 released its next generation platform called ‘Pi’ which was long awaited. This is one of the most advanced charting software provided by any brokZerodha Discount Broker reviewer in India and best thing it is free of cost to all the clients who open account with them. In Pi you can view up to 50,000 candles, various chart types, over 70 indicators, inbuilt strategies and can even create your own strategies; back test them, trading directly from chart, quick order entry screen with many more options. Here are few screenshot of their awesome platform
[Read more…]

RKSV security review

Upstox, (formerly RKSV Securities), is one of India’s top broking firms specializing in the zero brokerage costs model. Founded by Ravi Kumar, Raghu Kumar and Shrini Viswanath, Upstox now accounts for 2% of daily turnover of NSE. Upstox’ customers can trade on BSE, NSE and starting in 2016 on MCX.  (approx. Rs. 7000 crore daily traded turnover)Upstox review

Upstox is backed by Mr. Ratan Tata, Kalaari Group and GVK Davix and prides itself as the technology-first low cost brokerage firm. The cutting-edge trading platform is built in-house by the team of engineers at Upstox’ head office at Sunshine Towers in Lower Parel, Mumbai. Traders and investors can use the sophisticated charting tools on Upstox Pro Web and Mobile platforms in order to analyze the markets and make profits.

Upstox offers free brokerage on equity delivery trading and trading in Equity F&O, Equity IntraDay, Commodities and Currency Derivatives can be done for a flat fee of Rs. 20 per order traded irrespective of the order volume. Upstox also offers NRI trading and will soon provide for investing in Mutual Funds.

In 2016, Upstox launched E-Aadhaar account opening system thus breaking the barrier faced by customers while opening an account with other brokerage firms. You just need your Aadhaar Card number and PAN Number in order to open an account with Upstox. It is completely paperless and seamless! Account opening is FREE with Upstox.

Upstox is also a registered member of CDSL and NSDL and is eligible to provide Depository Participant (DP) services. The company remains a registered member of NSE, BSE and MCX in the name of RKSV Securities.

Education

Upstox focuses on educating and training people about the financial markets and how to profit through them. Trade Academy, the educational-arm of Upstox, has been conducting online classes to train aspirants across India and abroad about everything from basics of the stock markets to options trading strategies to introducing algorithmic trading to experts in the industry. Trade Academy runs free and premium online courses that are attended by large number of audience every day.

LoginLess

In order to make sophisticated trading experience accessible to all, Upstox offers LoginLess feature on their Upstox Pro mobile app. Loginless allows you to do many things, without even an account, such as:

  • Easily search for stocks, even the complex ones
  • Access all NSE cash, Futures and Options and Currencies scrips
  • Use cutting edge charting tools
  • Create charts with multiple intervals, drawing studies and types
  • Apply 100+ technical indicators on real-time charts
  • Set unlimited no. of price alerts for instant updates
  • Create unlimited customized watch-lists
  • Receive real-time market feeds to stay on top of your scrips
  • Access predefined watch-list of Nifty 50

Once you have downloaded the app, you can easily open a paperless trading account with Upstox and start placing trades.

Click here to watch the Loginless video!

Referral Program

Upstox’ referral program offers existing customers the chance to earn additional money in brokerage credit by referring their friends to open an account and trade with Upstox. A special dashboard is created for existing customers so that they can track their earnings from referrals.

Upstox Brokerage Charges – 2017

Upstox’s brokerage plan is simple and attractive. Trade in Equity Delivery is completely free and for all other segments you pay only Rs 20 per order executed.

Margins provided by Upstox – Also customers get intraday leverage of 15x on Equities for FNO listings, 2x for scrips with 20% circuit limit, 3x on NSE F&O, 3x on BSE/NSE Currency F&O and 2.5x on MCX Commodity Futures.

Special Margins for Cover Order or Bracket Order – 20x on NSE/BSE Cash, upto 6x in NSE Futures, upto 4x in Currency futures, upto 3x in MCX.

Open account with Upstox

 

Trading Brokerages

  • Equity Delivery Based Trades: Rs 0 (Free)
  • Equity Intraday Trades: Rs. 20 per executed order
  • Equity Future: Rs. 20 per executed order
  • Equity Options: Rs. 20 per executed order (on Turnover)
  • Currency Futures and Options: Rs. 20 per executed order
  • Commodity Futures: Rs. 20 per executed order

Account Charges

  • Trading Account Opening Charges (One Time): Rs 150
  • Demat account Opening Charges (One Time): Rs 150
  • Trading Annual maintenance charges (AMC): Zero
  • Demat Account Annual Maintenance Charges (AMC): Rs 150

Other Charges

  • Call and Trade feature is available at Rs. 20 per call order.
  • Digital Contract notes are sent via Email. Physical copies of contract notes can be ordered at additional charge of Rs. 25 per contract + courier charges.
  • Instant payment gateway charges for over 20 banks – Rs 7 per fund transfer. Max transfer limit to 2 Lakhs Rs per day.
  • Money withdrawals charges applies as per RBI guidelines.
  • Standard NSE charges, transaction charges and statutory levies are charged.

For STT, Stamp Duty, Service Tax and SEBI Charges please refer the Commission and Fees tab.

Upstox Margin/Exposures and Intra-day Leverage

  1. Upstox Margin for NSE Cash/BSE Cash – Upstox offers upto 20X for stock listed in F&O, upto 2X for stocks with 20% circuit breaker for all MIS (Intraday) Orders. For CO and BO orders, a combined basket of F&O underlying and NIFTY CNX 200 scrips are offered a leverage of upto 20x.
  2. Upstox Margin for Equity Futures – Upstox offers upto 6X leverage for CO and BO Orders, whereas 4x leverage in case of MIS orders.
  3. Upstox Exposure for Options Buying Trading – Upstox offers 1.3X leverage for CO and BO Orders and No leverage in MIS for Options buying.
  4. Upstox Exposure for Equity Options Selling – Upstox offers upto 4X leverage for all selling options.
  5. Upstox Margin for Currency Futures – Upstox offers upto 4X leverage for MIS/CO and BO orders.
  6. Upstox Margin for Commodity – Upstox offers upto 3X margin in Non Agri commodities with CO orders and 2.5x for MIS orders.

Account Opening with Upstox (RKSV)

For online trading with Upstox, an investor or a trader has to open a simple 2-in-1 account (Trading and Demat). Account opening is the easiest with Upstox. Starting in 2016 Upstox pioneered Paperless account opening system. Now you just need your Aadhaar Card Number and PAN Number to open an account online. Gone are the days of filling out multiple forms, signing, printing and sending them to the broker in mail.

Here are the ways to open an account with Upstox:

  • Fill out the details in the online form here.
  • Contact Phone Number: +91-22-6130-9999
  • Contact email:[email protected]
  • Registered Office: Upstox, 807 New Delhi House, New Delhi 110001
  • Corporate Office: 30th Floor, Sunshine Tower, Senapati Bapat Marg, Dadar (W), Mumbai, 400 013

Open account with Upstox

Upstox (RKSV) Web, Mobile app and Desktop base trading platform – 2017

Upstox provides web browser and mobile app based trading platforms to its users.

Upstox Pro Web – With more and more people moving towards online trading, Upstox has turned their web-based trading platform into the most sophisticated and cutting-edge tool which helps traders and investors to calculate fast and place trades in live markets quickly. It is a light-weight browser-based platform that you can access on your computer, laptop or tablet–without having to download anything. Trading with Upstox means that you can say Goodbye to those large .exe files that crowd your desktop.

upstox-trading-platform

Upstox Desktop – One of the most reputed trading platform “Omnesys NEST” is the official trading terminal for Upstox. This trading terminal is a one-stop shop for  your trading needs, from advanced charting to quick order placement, portfolio, fund transfer, margin report and Market Watch. Customizable interface, Multi Monitor support, customizable hotkeys and shortcuts.

Key features of Upstox Pro are:

  • Fast market feeds
  • Trade on all exchanges & all segments with a single Sign In
  • Real time quotes
  • Instant notifications
  • Bank transfer available with 40+ banks.
  • Real time margin – alert for margin changes
  • One click trades.
  • Keyboard shortcuts – like desktop, you can use shortcuts for trading in the browser of your choice.
  • Account balance, historical reports, daily order status reports and much more.

For detail review of mobile app and download please visit Upstox (RKSV) Mobile App.

Final thought about Upstox (RKSV)

Upstox is a technology-focused online broking firm that leads by example. The broker separates itself from the competition with its innovative trading platforms and its unwavering focus on providing cutting edge trading tools and platforms for its users. Irrespective of the device that you use, Upstox is available for you. Be it your cellphone, laptop, tablet or even your desktop with internet access – Upstox Pro Web and Upstox Pro Mobile are seamless and hassle-free for your use.  Specializing in the low brokerage model, Upstox offers FREE equity delivery trading and upto Rs. 20 per trade irrespective of the order volume for IntraDay trading. Upstox is leading the emerging “Free Broker” category.

Open account with Upstox

Lowest brokerage charges in India

Traditionally in India share brokers used to charge a certain percentage value of trade(for ex. ICICIdirect charges .5% for delivery based trading) . So if you were a trader or a large investor, you ended up paying a huge brokerage on your transaction. Most of the trader and large investor ended up paying brokerage worth lakhs of rupees. These type of brokers are know as traditional or full service brokers. Most of the retail investor were also using them for trading needs as these brokers where mostly linked with your bank like ICICIdirect with ICICI bank and it was very easy to open and manage account with them.

But in last few years, [Read more…]

Currency Trading in India

Currency trading also know as Forex trading is legal in India for the following currency pairs. USD:INR, GBP:INR, EUR:INR and YEN:INR. These pairs are provided by major stock exchange in India including NSE and MCX-SX. Lately the liquidity for these pairs have increased in India. But globally the currency trading takes place in USD:EUR and other major world currencies.(INR IS NOT ONE OF THEM) .There are some global currency trading companies which are providing services under the radar to Indian traders to trade in world major currencies but as per the RBI policies, an individual cannot trade in global currency pair from India.

For trading in Indian currency pairs, you can open a currency trading account with most of the major brokers(ICICI direct, Angel Broking, HDFC or RKSV). With more and more brokers providing these services, the rates has reduced drastically. To just give you an example of USD:INR currency pair, the lot size is $1000 dollars, so if you are buying one lot you are trading for about Rs 60,000 and brokerage could be anywhere from Rs 15 to Rs 100 depending on the brokers. Currency options are also available if you want to trade but the liquidity for currency options is thin and you can get struck with some options and they could be difficult to sell. All the major brokers are providing currency trading associated with Indian currency. You can find details about major currency broker in India here.

Angel Broking is India’s leading broking firm which operates revolutionary trading platforms and expertise to a diversified client base on all segments. In the forexsegment, the company offers top quality research reports and technical calls that arms clients on a daily basis with key information that can shape the markets. The research report gives investors a fundamental view along with technical edge. There are event specific write-up like the recent US Presidential Elections, Brexit and outcome of Monetary Policies of major central banks of the world. Benefit from Angel Broking’s robust and indept advisory and research reports on Forex Trading by opening an account now.

On the other hand, if you open currency trading account with some of the major global currency trading account, you will be able to trade in world’s major currencies. But transferring and pay in of the funds are not very simple with them. As these brokers are mostly based outside of Indian territories, they will take money from you through a paypal account or wire transfer to a foreign or Indian based account. Even when you have to withdrawn some money, there can be some issues. For a list of brokers proving trading in global currency, please visit here.

Research well before selecting the currency brokers.

Best Day Trading brokers

If you are a day trader, there are three important points which you should look in a broker.

1) Brokerage – For a day trader, brokerage can mean whether you are profitable or not in the long run. It is extremely important for a day trader that brokerage are as low as possible. You should look at discount broker as they have some of the lowest brokerage in India right now.
2) Margin – This is also something which is important for you if you are into day trading but remember that this is a double edged sword. It could be profitable for you but at the same time it open your trade for huge losses also. As a day trader, you should always have stop loss on every trade. Full service broker generally provide much higher margin limits but nowaday discount broker also provide higher margins with the use of complex order types like Cover Order which define your losses at the time of the trade.
3) Time of cut off – This is also important for you if you to intraday trade as someone who starts putting a cut off time of 2:45 would invariably mean that you have 20 mins less than a broker who provide cut-off time of 3:15.
4) Number of stock – Every broker have a list of stock which they provide for intraday. Check first with the broker if they have the stocks which you trade in. Almost all the brokers provide large cap stock for intraday trading, put few provide small cap stock for intraday trading. So this is something which you should look at while looking for a stock broker.

Based on these points, I have tried to put in the list of top 3 brokers which would be best fit for day traders.

S. NO Broker Name Brokerage
1 Zerodha 0.01% or Rs 20 per trade
whichever is lower
2 Upstox Rs. 20 per trade
3 Angel 0.03% per trade

1) Zerodha: This is one of the largest discount broker in India with more than 150,000 clients. They started the discount broking in India in 2010 with a fixed brokerage structure.
They charge .01%( 1 paisa) per trade upto Rs 2 lakhs. (which is Rs 20 brokerage). If you have a trade of more that Rs 2 lakh, the brokerage is capped at Rs 20. So for any trade whether it is Rs 5 lakh or Rs 20 lakh, the maximum brokerage you would have to pay is capped at Rs 20.
Apart from this, they have a state of the art trading platform called PI and browser based platform called Kite. They also have apps for playstore/appstore called KITE. They provide advanced order like bracket order, cover order to trade for intraday traders. To open account with them, just click on the buttom below and provide your details.

Open Account with Zerodha
2) Angel Broking: They are one of the largest full service broker in India and have more than 10 lakh clients trading with them. There brokerage is a little higher and they charge brokerage of .03%(3 paisa) for intraday trading which is high compared to discount broker but if you look at their customer service, it is better than discount broker. Angel provide a dedicated dealer you can trade with and also provide you advisory service free of cost. So if you are looking for a broker from whom you can take advice, then you can open account with them.
They also provide T+6 day trading when you buy the stock, which means you can convert the position from intraday to delivery and vice versa upto 6 day. There is a nominal interest rate which is charged on this though.

Angel Account opening

3) Upstox: This is the second largest discount broker in India having around 30,000 clients. They have similar brokerage structure as Zerodha and charge .01% or Rs 20 whichever is lower per trade for intraday. They also have an awesome trading app called UpstoxPro which provides lots of feature right on your mobile phone.
They also provide advanced order like Bracket order and Cover order to there clients. They have also started online account opening so that the customer can fill the form online and start trading in 10 mins.

Open account with RKSV

Hope this article would have helped you on what to look in a day trading broker and how you should choose them. In case of any question, do let me know and I will try to answer then to the best of my knowledge. You can read further review of the best broker to trade with on Top 10 brokers in India.

Algo Trading in India

Algorithmic or Algo trading is computer generated trading based on the algorithms fed in the trading system. These are generally used by financial institutions and PE to trade. Majority of trading in US is done through this in US and India is also moving in the same direction. Firms spend a lot of money in developing there proprietary algorithm in the hope to generate positive returns.

Just to give you an example of a trading Algorithm, we can code to look for any stock which is above 50 DMA, [Read more…]

Best trading platform in india

With the new trading platforms coming to India, Indian traders and investor  have a choice  to choose the best trading platform which matches there needs. Before deciding on the trading platform, the trader should be very clear about there needs and if the system they are buying will fulfill there needs. Just to give you some example. for some technical traders charting is the most important feature in the platform while for some it may be market calls or bulk order facility. [Read more…]

SAS Online review

SAS online discount brokerage firm offers brokerage services for stocks, future and options on NSE, BSE and MCX. They call themselves a venture started “by traders for traders. They provide very competitive brokerage rate of just Rs. 9 per executed order or unlimited monthly plan for just Rs. 999! This is by far the cheapest brokerage rate provided by any brokers in India.

Just to give you an example of how competitive these rates are for example :You place a ‘buy’ order for 1000 Reliance share and it get completed it takes 10 trades until the whole sasonline-logo-11000 are bought. However, , irrespective of how many trades it takes to complete the order, you will be charged a flat brokerage rate of Rs 9.

Apart from this they also provide a “999 unlimited monthly plan” which gives you a break from having to pay brokerages every time you trade . Using this you can Trade unlimited across NSE cash, BSE Cash and NSE F&O with zero brokerage costs. MCX and Currency can also be traded using this plan. They are one of the few broker who are still providing unlimited trading platform to there clients.

Account Opening Charges
1. Account Opening (Trading) – Rs 200

2. Account Opening (Demat) – Rs 200

Annual Maintenance Charges for Demat – Nil
They have taken NSDL membership and would be providing the services at ZERO AMC.
* It is not mandatory to open a DP Account with us for delivery based trading. In case you already have one, you don’t need to open one.

3. DP Charges – Rs 9 + CDSL Charges
4. STT, Service Tax, NSE Turnover and Transaction Charges, SEBI charges are all as applicable market-wide.
Margins:
a. Intraday Margins for Cash: upto 20 times for F&O stocks
b. Intraday Margins for Equity Futures: 5 times over and above the exchange margin
For holding Equity Futures overnight, exchange stipulated margins are required.
c. Margins for Currency Futures: 50 % of the total margin (SPAN + ELM) as per exchange.
*100% premium amount required for buying options

Trading Platform

SAS NEST trader – State of the art online trading platform so you can make the most of the opportunities in today’s market. NSE NOW is one of the fastest, reliable and user-friendly platforms available in the country today. Servers are co-located inside NSE thus ensuring tick by tick rate updates and quick order routing. Most of the discount brokers use this to provide seamless trading experience to brokers. You have to download this on your PC to use NEST trader.

RKSV Nest trading Platform

 

 

 

 

SAS web platform – HTML 5 trading platform which works on almost all the modern day browser. No need to install anything and trade on the browser.

SAS Mobile trader – SAS provide access to your account through your there mobile app. You can check your portfolio and also trade on the move using this.

NEST Mobile SAS online

 

Funds Transfer

Funds can be transferred through payment gateway, net banking, NEFT, RTGS and Cheque. Details of our bank account are available on the website for the purpose. Funds must be transferred through your bank accounts registered with us. A payout can be requested through back office or email. All payout requests will be processed by the end of that trading day.

Payin Option with SAS online

Instant transfer: One you have linked your bank account with the trading account, you can transfer the money instantly from Bank account to your trading account. It is instant fund transfer and there is a small charge of Rs 9 per transaction

NEFT/RTGS: Not interested in instant transfer. Then you can choose transfer through NEFT or RTGS. In case you are using NEFT, you can only trade once the money in received by them which can take couple of hours to happen. RTGS is instant fund transfer but there is a minimum limit of Rs 2 lakh and above only. You have to do the RTGS/NEFT to SAS online HDFC bank account details on which can be found on their website.

Cheque deposit: The least complicated way to transfer money is by cheque deposit. The only issue being check deposit can take upto 48 hrs to show in your account. So if you are not in hurry

Online Back Office
The Back Office system allows you to view your trading activity since you joined SAS. At the end of each day, your trading activity is uploaded from NSE NOW to your account for your perusal. You can Use this data to understand your historical trading activity, file tax returns, and other accounting purposes.

SAS online does have the lowest brokerage but they provide NEST trading platform which is not that great. To find about the lowest brokerage having best service, read our post on Lowest brokerage account in India.

You can know more about the main discount broker in India here.

Cheapest stock broker in india

Stock broker in India pre – 2010 where mainly full-service broker that is they charge for every trade you do and mostly  the brokerage rate were high. They charged mostly as percentage of your trading and the percentage could be anywhere from .2 – .6 %. These rate are very high and if you are trading a lot or your volume are large, it make sense to look at other discount broker.

After 2010, discount broker have started to open up in India a in last 2-3 years, with better technology becoming common. These are good for traders who are comfortable with trading online and don’t mind not talking to a real person. These brokers generally charge fixed rate as brokerage irrespective of the value of the trade. So if you buy Rs 1 lakh share of RIL or 1 Crore, the rate is the same and in most case they charge a flat brokerage of Rs 20 per trade. This makes a major difference as if you are trading with a full service broker, you would have paid a brokerage of Rs 500 on a Rs 1 lakh trade. [Read more…]

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