Free stock brokers? Wow! How is that Possible? These will be questions of most of my readers reading this content. The answer is yes. There are free stock brokers in India.
The stock market in the past years needs you to negotiate like your life depends on it. Nowadays, a lot of changes are happening in the stock market. You will get to meet some brokers who are ready to offer you free stock services in India. How do I know of a stock broker that offers free brokerage in India? I will provide you with the details of the list of free stock brokers in India. But before providing you with the list, what does free stock brokerage means?
Free stock brokerage simplified
Before you own a brokerage Demat and trading account in India, you will be charged some amount of rupees or percentage. For example, if you want to invest 1lakh, 500rupees will be charged by some brokers. There are some brokers nowadays that offer a discount price, like deducting a fixed price no matter the value of the trade, e.g. 10paisa for 40 rupees per trade.
Whereas, some brokers offer a free brokerage account at least in one section, for example, Zerodha. The reason why a free brokerage account was introduced is that research made us understand that people trade more when offered free brokerage. This was first started by Robinhood in the USA. Their goal was to lead investors to their trading platform and once they are in it, they begin to trade which requires a payable fee.
This approach made Robinhood successful in no time and this made some Indian brokers implement this idea. And this has proven to be a strategy worth taking as many investors have benefited greatly. Below is the list of stock brokers who offer free stock in India.
List of free stock brokers in India
Zerodha
Zerodha was the first broker to introduce free stock trade in India and this has made them better recognized than the common ones. Immediately after the Robinhood strategy was introduced by them, they got a great result of exponential growth.
The interesting part is they never spent a dime on advertising or marketing. They also introduced an app called KITE, and this app has proven to be simple and easy to use even by the less educated. It has also been rated as one of the trading apps for the stock market in India.
Upstox
Upstox is the second on the list of the largest free stock brokerage and they are located in Mumbai. It started with the name RKSV in the year 2012 and got rebranded to Upstox in 2015. In a record, after Zerodha, they have the highest number of active traders. Their services are currency, equity and commodity.
Tier delivery charges for trading are free and also opening a Demat and trading account is fast and you don’t need to fill out a form on paper. In addition to this, they offer their charges for trades is 20 rupees per order.
Angel one
They were formerly known as Angel Broking, they started in 1987. That means they are 30 years in the business, this simply means they are experienced. They are also blessed with more than 5 million investors.
Their services are F&O, currency, equity, commodities, BSE, NSE, NCDEX and MCX. Before now they charged a certain amount for trade but recently introduced a flat rate to stay relevant in the brokers’ industry. They also offer 20 rupees per trade and a free rate for delivery. Opening an account with this brokerage service is easy and fast with an added personalized service.
India infoline
This business was founded in 1996, they offer a free account opening and their online presence cannot be over-emphasized. India info online also known as 5paisa also offers recommendation service to their clients. Their offers are mutual funds, personal loans, insurance, equity, commodity and currency.
They offer free account opening and a maintenance charge of 45 rupees annually. Their brokerage rate is 10 rupees per order, maintenance charges are low. They also offer multiple brokerage plans.
Groww
It started in Bangalore in 2016 and its growth rate is alarming. It is also known as Nextbillion Technology Private Limited. During the pandemic, the company still offered equity trading. They offer free account opening, their annual maintenance is zero rupees charge.
They charge 20 rupees per trade for brokerage fees. Their interface is simple to use, they have just one platform for all your stocks and you can also invest in US stocks.
Lastly
The introduction of free stocks has made investing easy and cheaper in India. Companies have jumped into the zero-free stock brokerage bandwagon and have experienced growth in no time.
