(Last Updated: April 15, 2019)

Zerodha Alternatives: Best Discount brokers in India



  • Finvasia is a typical age old platform providing a desktop/mobile software to post your trades and the cost of using that software is 49Rs per month per segment. It's not free. See finvasia pricing page, you will see a link which says, Check Technology cost, so everyone will charge one way or the other. They are also businesses after all.

    Zerodha and 5paisa are modern Saas(Software as a service) type programs. You can chose as per your preference.

    Each of the brokers will have downtimes for sure sometime so instead of blaming the broker for that, align your trading strategy keeping downtime in mind.



  • Yes, I totally agree with your point. Any broker can face such technical problems. These are tech based platforms, and when user base increases there can be new issues arising. And, they are trying to fix that up to avoid inconvenience ahead.

    So, that shouldn't be the deciding factor. You need to consider other important factors while selecting the best stock broker. There are so many of them: A/c opening charges, AMC charges, brokerage etc. Out of this, the most crucial one is how often you wish to use such a platform, occasionally or regularly. I mean you are an active investor/trader or not.



  • I think some of the discount brokers are just over-hyped. I feel they provide somewhat similar platforms only. Every broker charges fee in one way or the other. In fact, nothing is free. The charges vary slightly here and there. Rest its user experience that proves which one is the best of all.



  • True! There are no guarantees. But, the top broker like Zerodha is facing platform freezes back to back that too during news time that certainly does ring an alarm bell. Its the amount of traffic that their servers receive, its impossible for a broker to manage the entire country trading load and this Is bound to repeat again. So, its wise to move to other brokers that provide decent services.

    I now use Upstox and Finvasia. I have split my trading between them.

    @stock_trader , just to correct you can trade with finvasia at no fees. Use scalpert or NOW. I use Scalpert and the recent upgrade of the platform is amazing. I usually trade on my phone and the android scalpert app is at par with uptox's mobile platform. So, with no brokerage and platform charges, they are quiet competitive in terms of fees when compared to others.



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  • @UniQueme Hey, thanks for sharing your views. You didn't seem to have a good experience with Zerodha. I personally had a very good experience with them. That's why I listed them in the best discount brokers in India.

    Of course, a tech driven platform having a huge user base can be difficult to manage at times. Some technical issues here and there are justified and they are fixing those quickly.

    Anyways, all have there good and not so good experiences to share. This is what this financial discussion platform is meant for 🙂 Just keep sharing your genuine feedback so that others can get better ideas to go ahead.



  • Stock_trader said in Zerodha Alternatives: Best Discount brokers in India:

    Zerodha and 5paisa are modern Saas(Software as a service) type programs. You can chose as per your preference.

    Very rightly said! I do agree that Zerodha and 5paisa are modern day platforms simplifying the investing and trading activities.

    Each of the brokers will have downtimes for sure sometime so instead of blaming the broker for that, align your trading strategy keeping downtime in mind.

    You have correctly expressed this. So, this factor shouldn't be given much importance while selecting the best discount broker. What do you think? What other crucial factors one should keep in mind while deciding the best stock broker? Any feedback on this.



  • @UniQueme Hey, Is Finvasia a new stock broker? I haven't heard about this. You saying, its giving tough competition to others. But, I think this is a fairly new entrant. How's this possible? Or may be it's not that popular. There are so many new stock brokers coming up. I hardly believe they can stay with very strong players in the market.

    I really wonder what's the business and profit model for the rising number of discount brokers in India? If they offer unbeatable or free pricing offers, how will they survive and grow? Right!



  • @Ishu I am thinking to open an account with 5paisa broker. Is it a good one? I read its reviews and found it to be a decent choice. What do you think about this discount broker? Any suggestions about it.



  • Hey, What about Paytm Money? That's also all set to become one of the big Zerodha alternatives very soon. Any feedback on Paytm money, if anyone can give.



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