@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.

Finvasia recently upgraded their in-house trading platform scalpert, is here anyone who is using it? Please give your insights.

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.

A trader can keep as many demat accounts as he wants with different brokers. Amongst which one is always primary and others are secondary accounts. I agree with @manav that why add to the cost by opening another account with AMC and account opening charges. However, if you still want two different demat accounts, you can keep one with your current/favourite broker and can open one with Finvasia. These guys don't charge any demat account opening or amc charges. they work on the zero brokerage model so all trading and account openings including AMC is zero with them for lifetime. Anyways, it's my personal opinion. Hope it answers your question.

@rishabh don’t go with zerodha, haven’t you heard how much problems traders are facing? Zerodha’s platform freezes every other day. It’s just the name left, no service. You can check their official twitter handle.

Now coming to your low brokerage question, what can be lower than Zero?
@arunkaushal , every broker has the same account opening process be it 5 paisa or finvasia. How finvasia is better than 5 paisa, again 0 brokerage in all segments, 5 paisa charges 10/- order, why pay so much when a better option is available?
@rishabh now you decide.

My favorite Indian stock market is Moneycontrol. It is quite user friendly and informative.

I think you should also add Finvasia in your list.
The broker is giving tough competition to all discount brokers with its unbeatable pricing model. They have zero brokerage across all the segments.Trading platform is highly stable and doesn’t hang or freezes every second day like zerodha. Customer support team is highly responsive.

I would say taking loan for the investment could be your one of the biggest mistakes.