(Last Updated: May 15, 2019)
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Zerodha Alternatives: Best Discount brokers in India



  • 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.



  • @Shalini can you please tell me where did you see the reviews? I stay away from 5paisa after seeing lots of negative reviews about their customer support and hidden charges.

    Finvasia is a good choice, they offer high leverage and zero brokerage in intraday which is a perfect mix for me, not to mention they offer zero brokerage for all segments. I started trading with them more than 3 months ago and liked their services so far.

    @Madhav I really had that same question in the beginning like how they survive and grow. I googled it and found traderji finvasia forum and youtube video where they shared how they make money. In short, they claim that they have many revenue sources and also make money from exchanges when their volume touch above benchmark, even talking about technology that benefitted them.

    Apart from free brokerage on all trades and free platforms (Scalpert, NOW, BEST) and free leverage upto 10x, they charge monthly on NEST platform Rs. 150, Bracket order Rs. 99 monthly, debit (sell) in demat Rs. 9.



  • @Tarun Hey, you seem to be a Finvasia fan. Is it just by reading reviews about it. Or have you actually tried this? And, is it a discount broker or a full service broker? I mean, here the discussion is on best discount brokers in India. So, does it fit into this criteria of discount broking model?



  • @NareshMittal Not really fan lol. But I find their services genuine and good. As I’ve said last time that I’ve been trading with Finvasia for more than 3 months, not just checking reviews. I would never recommend directly without research and testing.

    Yes, it does fit the thread’s criteria because first, it’s not a full service broker, second they offer zero brokerages on all segments which is very competing since some others (Zerodha, Fyers and Upstox) are offering zero on delivery based only. In future, because of Finvasia, others may start to slash out brokerages on all other segments apart from delivery. I have a high feeling that Paytm might come out with this zero brokerage plan that Finvasia has.



  • @Tarun Hey, thanks for adding up to my post. Finvasia sounds to be an interesting platform, hearing such details 🙂
    And yes, I also agree that Paytm is all set to come out with zero brokerage plan. In fact, I believe it is the one giant company, that can give tough competition to all the existing discount brokers may it be Zerodha, 5paisa, Upstox and Finvasia too. Right!



  • @Ishu @Tarun @UniQueme I would like to add WisdomCapital to this list of discount brokers in India. They have good plans that include lifetime zero brokerage freedom plans in equities. They are doing well in providing online trading services. Overall, I think it is a growing competitor to other discount brokers in India. That's my viewpoint! What do you people think?



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

    @Ishu @Tarun @UniQueme I would like to add WisdomCapital to this list of discount brokers in India. They have good plans that include lifetime zero brokerage freedom plans in equities. They are doing well in providing online trading services. Overall, I think it is a growing competitor to other discount brokers in India. That's my viewpoint! What do you people think?

    It's really good that Wisdom Capital, one of discount brokers, came out zero brokerage on all segments but unlike finvasia, they are in a tight space like margin is not allowed and their demat AMC is very expensive @ 999, and they only offer NOW trading platform to activate the freedom plan. Finvasia offer 10x margin in equity for free, zero demat AMC, and 3 free platforms.

    Moreover, I have researched the reviews of their support, and I must say that their customer support is not what you expect. Is it true that Wisdom Capital is the franchise of F6online?



  • @Tarun Hey, I think WisdomCapital is a decent stock broker. They might be having franchisees and not the other way round. As far as I know, this discount broker Wisdom Capital was incorporated in 2013 and is doing fine since then.



  • @UniQueme Talking of best Zerodha alternatives, my vote definitely goes to 5paisa. I feel presently this is the toughest competitor to Zerodha. It's client base is a bit lesser than Zerodha, but I believe they are surely going to surpass that. I personally like their discount brokerage platform 🙂



  • @Gaurav 5paisa support system is not that perfect and there are heavy hidden charges. They charge their clients Rs. 10 per trade.
    The term “tough competitor” referred to as when broker is offering better than Zerodha, not based on no. of clients.

    I mentioned Finvasia because they are offering zero brokerage brokers on all segments and great services. While Zerodha is only offering zero on delivery equity and lack of support.

    I mentioned Upstox because they have a great platform to trade as compared to Zerodha. But, it’s irritating that Upstox is facing some issues too. I hope they fix it and won't happen again.



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