Look around and you will find plenty of discount brokers in India. A lot of stock broker options! The different alternatives to Zerodha include 5paisa, Samco, Upstox, Groww, Paytm Money, TradeSmartOnline, and Finvasia, etc. In fact, you can get a whole list of discount brokers offering their services in India.
Zerodha ranks quite high in the list of discount brokers in India. Zerodha has increased its customer base to a large extent in the past few years.
Discount brokers in India have gained massive popularity owing to low brokerage, their simple process and useful services.
There are a whole lot of discount brokers in India, the true competitors of Zerodha. We can simply call them as Zerodha alternatives:
There is a very thin line of margin in the discount broking business. What matters is the technology driven platforms with adequate and timely customer support.
The discount broker that can offer this combo of user friendly software/app plus great customer service shall emerge to be the winner.
Which Zerodha alternatives come to your mind? Any discount broker's name that you want to add, share your valuable experiences.
Paytm Money is a great alternative to Zerodha Kite. You can directly connect your Paytm Payements Bank Account can make transactions directly from their 4.5/5 rated mobile and web application. Paytm Money also offers transparency and trust!
Upstox is a really good alternative to Zerodha. It has plenty of learning resources to make the whole process easy for the investors. Technically also I have not faced any glitches or issues. Obviously others are good too. But I like Upstox.
Any broker can face technical problems. These are tech based platforms, and when user base increases there can be new issues arising. And, they are trying to fix that up to avoid inconvenience ahead. So, that shouldn't be the deciding factor. You need to consider other important factors while selecting the best stock broker. There are so many of them: A/c opening charges, AMC charges, brokerage etc. Out of this, the most crucial one is how often you wish to use such a platform, occasionally or regularly. I mean you are an active investor/trader or not.
I think Wisdom Capital 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.
I like 5paisa, my friend suggested me to open an account there. It is the 2nd largest discount broker in India. I am very satisfied with their overall services. It's a good online platform. I haven't faced any issue in it. It's the quality of services and good experience that matters. Even if there's a nominal charge, that's ok. Free platforms don't always offer the best services altogether. Every day I hear new players entering the market with new stock broking platforms. I don't think they can compete or even survive with these big giants like 5paisa.
Zerodha is good. I like its services. Sometimes, there are minor technical issues. But, my overall experience has been good with them.