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Now lets have a look at some of the top discount brokers in India(in our view )

I) Zerodha : They are one of the largest and oldest Discount broker in India having more than 50,000 clients. They have a very competitive and a simple brokerage structure (Rs 20 per trade) and good customer service. The account opening process is also very easy and most of the work can be completed online. They are one of the few discount broker who have their own Proprietor trading/charting software caller Pi which allows for writing custom algorithm. The good thing about these discount brokers is you may never have to visit their offices. The forms can be filled online and the application can be shipped to them. This type of discount brokers are new in India and providing tough competition to full service brokers.

II) RKSV: RKSV is a discount broker operating from Mumbai. They provide very competitive rates of Rs 20 per trade irrespective of the size of the trade. The provide NEST and ODIN platform for trading. They are coming up with new mobile based platform called Upstock and the product look nice. There account opening process is also very easy and most of the work can be completed online.

III) SAS online: They are one of the newer discount Brokers having the most competitive rate of Rs 9 per trade. They even offer an unlimited trading plan starting from Rs 499. They are based out of Bangalore. They do provide NEST and ODIN platform and have a very competitive brokerage rate of Rs 9 per trade irrespective of the volume of the trades.

IV) ICICI Direct: By far the biggest and best know full service stock broker in India. They have decent service and easy to use user interface but there brokerage is really high compared to what other discount brokers are providing. There rates starts from as high as .5% to .2% depending on the value of trades you do with them. There biggest selling point is there seamless integration with your ICICI bank account which makes transfer/withdrawal of funds really easy and quick. Good broker for investor but not for trader.
V) ShareKhan : Incorporated in February 2000, Sharekhan is India’s 2nd largest stock broker as per number of customers, providing brokerage services through its online trading website Sharekhan.com and 1950 Share shops which includes branches & Franchises in more than 575 cities across India. They are full service broker and provide various other services like asset management etc. You can find my detailed review for Sharekhan brokerage charges here. As of July 30th , BNP Paribas have purchased ShareKhan for Rs 2,200 crore. We don’t expect major changes due to the buyout.

VI) HDFC Security: They are one of the larger broking houses in India and with their bank branches, they have one of the largest network which is only after ICICI. They have a vast network of bank branch in even smaller town. Most of the investor who have a bank account end up opening a trading/Demat account with them. They are good full service brokers providing all major services like research desk, mutual fund investments and portfolio management services.

VII) Kotak Securities: They are one more well know name in Financial services and with their bank branches in big cities they are able to cater to clients in big cities. There online service is decent but brokerage is not that competitive.

VIII) Reliance Money: They came with a bang but lately have lost a lot of sheen from their name. There have been lots of question about their business practices.

IX) Motilal Oswal : These are one of the decent broker operating in India. They are also full service brokers providing gamut of financial service to the customer.

X) Karvy : They are one of the oldest broking house operating in India. They are the brokers which your fathers used to use for buying there IPO and MF but there online service are not that great. Lately they are upgrading their online platform and there brokerage is also comparable to other full house brokers.

And there are many more which can be suitable to you, considering many factors like cost, reliability , goodwill etc.
-lp

(ref-indiansharebroker.com)

The Sensex ended over 1,600 points down on Monday, the biggest in over seven years. The benchmark BSE Sensex fell 1,624.51 points, or 5.94 per cent to end at 25,741.56. The index opened at 26730.40 and touched a low of 25,624.72. The broader Nifty also fell 490.95 points, or 5.92 per cent per cent to 7,809. Investor wealth down over Rs 7 lakh crore.

Some big market related news:

Maharashtra put a ban on the sale of loose ci******es. Stocks ITC and Godfrey ltd were down by 4%-5%.

Nestle Shares Plunge 10% as Several States Initiate Action against 'Unsafe' Noodles.

Adani port has fallen by over 80 per cent today and closed at around Rs 110, a fall of over 82 per cent from Monday’s close on news of business restructuring

12 pm
The Sensex is down 95.98 points at 28570.06 and the Nifty is down 54.15 points at 8652.55. About 1190 shares have advanced, 1231 shares declined, and 164 shares are unchanged.