The first discount broker, Zerodha, emerged in 2010 and caused a significant shift in the Indian broking industry. When compared to the expensive traditional and bank brokers, these discount brokers were able to attract a large number of customers because they offered a brokerage plan that was less expensive.
After this disruption, a lot of the older brokers and businesses started copying the idea and offering cheaper plans that were similar to it. Discount brokers have gained popularity in recent years after around a decade since they first gained attention.
Here are a few brokers who are offering discounts for their clients Zerodha, Angel One, Upstox, 5paisa, Kotak Securities, Groww, Paytm Money, Tradesmart, Sharekhan, Samco, IIFL Securities, Fyers, Wisdom Capital, Tradejini.
In point of fact, many of these discount brokers are able to rank higher than the large, well-organized “conventional” trading firms. Consequently, in order to combat competition, these traditional brokers have also entered the discount brokerage model or are planning to offer their clients a discount brokerage plan option.