Are you an NRI looking for the best discount stock broker in India to invest in Indian markets without paying high fees? You’re not alone. Many NRIs want to grow their wealth in India but feel confused by the choices and charges. This guide solves that problem by listing the top 10 NRI discount brokers in India for 2025, with the latest numbers, features, and all the important keywords you need to know. If you want affordable trading, a smooth digital experience, and reliable service, this article is for you.
Introduction
What Are NRI Discount Stock Brokers in India?
NRI discount stock brokers in India are brokerage firms that enable Non-Resident Indians (NRIs) to invest and trade in Indian stock markets at low, flat fees-much lower than traditional full-service brokers. These brokers focus on providing essential online trading services without add-ons like personal advisory or research, making them cost-effective for NRIs who want to manage their investments independently.
What Can NRIs Trade?
- Equities (Stocks): Buy and sell shares of listed Indian companies.
- Equity Derivatives (F&O): Allowed on a non-repatriation basis using NRO accounts.
- IPOs and Mutual Funds: Invest in new public offerings and mutual funds directly.
- Bonds: Access to listed bonds and debt instruments.
Note: NRIs are not allowed to trade in commodity derivatives in India
Top 10 NRI Discount Stock Brokers in India (2025)
Below, you’ll find the best NRI discount brokers, their charges, and why they stand out. We’ve included all the latest features, so you can compare and pick the right one for your needs.
1. Upstox
Product Introduction:
Upstox is a leading discount broker in India, known for its flat ₹20 per trade pricing, advanced digital platforms, and dedicated NRI desk. It supports both NRE and NRO accounts, making it easy for NRIs to trade equities, F&O, and commodities.
Why Choose Upstox:
- Flat ₹20 per executed order across all segments
- No account maintenance charges for the first year
- Fast online account opening for NRIs
- Powerful mobile and web trading apps
- Dedicated NRI support team
Key Features:
- Equity Delivery: ₹20 per order or 0.1% (whichever is lower)
- F&O and Commodity: ₹20 per order or 0.05%
- NRE/NRO account linkage
- Real-time research tools
- Transparent statutory charges
2. Zerodha
Product Introduction:
Zerodha is India’s largest discount broker, famous for its tech-driven approach and low fees. It offers NRI accounts with a simple, flat-fee model.
Why Choose Zerodha:
- Over 7.9 million active clients in 2025
- Equity Delivery: ₹100 per trade (non-PIS), ₹200 per trade (PIS)
- Free account opening for demat
Key Features:
- 3-in-1 account support
- Automated trading tools
- No annual maintenance for trading account
3. Angel One
Product Introduction:
Angel One is a top discount broker with a strong digital platform and competitive pricing for NRIs.
Why Choose Angel One:
- Equity Delivery: ₹20 per ISIN.
- Free demat account opening
- Automated account setup
Key Features:
- 3-in-1 account
- Research and tips
- User-friendly interface
4. 5paisa
Product Introduction:
5paisa offers affordable trading for NRIs with a focus on digital convenience.
Why Choose 5paisa:
- Free demat account opening
- Automated account management
Key Features:
- 3-in-1 account
- Simple fee structure
- User-friendly mobile app
5. Tradingo
Product Introduction:
Tradingo is gaining popularity among NRIs for its transparent fees and easy account setup.
Why Choose Tradingo:
- Equity Delivery (PIS): ₹100 per trade
- Equity Delivery (Non-PIS): ₹500 per trade
- F&O: ₹50 per order
Key Features:
- 3-in-1 account
- Automated trading
- Low annual maintenance
6. Tradejini
Product Introduction:
Tradejini is a budget-friendly broker with a focus on low-cost NRI trading.
Why Choose Tradejini:
- Equity Delivery: ₹200 per trade
- F&O: ₹200 per trade
Key Features:
- Lifetime AMC: ₹1999
- Free demat account opening.
- Simple digital process
7. Alice Blue
Product Introduction:
Alice Blue offers affordable trading for NRIs with a focus on technology.
Why Choose Alice Blue:
- Free demat account opening
- Low annual charges
Key Features:
- 3-in-1 account
- Automated trading tools
8. Wisdom Capital
Product Introduction:
Wisdom Capital is known for its lifetime free demat AMC and low trading costs.
Why Choose Wisdom Capital:
- Free demat account opening
- Lifetime demat AMC: ₹999
Key Features:
- 3-in-1 account
- Automated account
9. Fyers
Product Introduction:
Fyers is a tech-driven broker with competitive NRI pricing.
Why Choose Fyers:
- Equity Delivery: ₹50 per order
- Free trading and demat AMC for lifetime
Key Features:
- 3-in-1 account
- Automated trading
10. Finvasia
Product Introduction:
Finvasia stands out for its zero brokerage on all segments, making it unique among NRI brokers.
Why Choose Finvasia:
- Equity Delivery, F&O, and Options: ₹0 brokerage.
- Free demat and trading AMC for lifetime
Key Features:
- 3-in-1 account
- Automated account setup
Comparison Table: Top 10 NRI Discount Brokers (2025)
| Broker | Account Opening Fee | Trading AMC | Demat AMC | Equity Delivery | F&O/Options | NRI Account Type | Key Features |
| Upstox | ₹0 | ₹0 | ₹0 (1st year) | ₹20/order | ₹20/order | NRE/NRO | Fast digital, NRI support |
| Zerodha | ₹500 | ₹0 | ₹300 | ₹100-₹200 | ₹100-₹200 | NRE/NRO | Largest, tech-driven |
| Angel One | ₹500 | ₹500 | ₹240 | ₹20/ISIN | – | NRE/NRO | Research, easy setup |
| 5paisa | ₹0 | ₹0 | ₹300 | NA | NA | NRE/NRO | App-based, simple |
| Tradingo | ₹300 | ₹0 | ₹250 (from 2nd yr) | ₹100-₹500 | ₹50/order | NRE/NRO | Transparent, automated |
| Tradejini | ₹2000 | ₹1999 (lifetime) | ₹300 | ₹200/order | ₹200/order | NRE/NRO | Lifetime AMC, low fees |
| Alice Blue | ₹0 | ₹0 | ₹400 | NA | NA | NRE/NRO | Tech focus, low cost |
| Wisdom Capital | ₹0 | ₹0 | ₹999 (lifetime) | NA | NA | NRE/NRO | Free demat AMC |
| Fyers | ₹0 | ₹0 | ₹0 (lifetime) | ₹50/order | ₹50/order | NRE/NRO | Free AMC, tech-driven |
| Finvasia | ₹199 | ₹0 | ₹0 (lifetime) | ₹0 | ₹0 | NRE/NRO | Zero brokerage |
How Do NRI Discount Brokers Work?
- Account Structure:
NRIs must open an NRI Trading Account and an NRI Demat Account to buy and sell stocks, derivatives, IPOs, and mutual funds on Indian exchanges like NSE and BSE. These accounts are linked to either an NRE (Non-Resident External) or NRO (Non-Resident Ordinary) bank account, depending on whether you want to repatriate funds or not. - Trading Access:
With a discount broker, NRIs can access the Indian stock market globally, transfer funds efficiently, and trade online from anywhere and at any time. Most discount brokers offer a seamless digital experience with simple platforms and mobile apps. - Charges:
Discount brokers charge flat fees per trade (for example, ₹20 per order), which is much lower than the percentage-based fees of full-service brokers. Some even offer free equity delivery trades or special plans for NRIs.
How to Choose the Best NRI Discount Broker
- Check NRI Support: Not all discount brokers support NRI accounts. Confirm before opening.
- Compare Brokerage: Look for flat, low fees. Upstox and Finvasia offer the lowest costs.
- Account Types: Make sure the broker supports both NRE and NRO accounts for your needs.
- Digital Experience: Choose brokers with strong apps and online platforms for easy trading.
- Commodity Broker in India (Full-Service Brokers): If you want to trade commodities, check if the broker is registered for commodity trading.
- Reputation: Check the number of active clients and user reviews for reliability.
Important Rules and Limits
- NRIs can invest up to 5% of the paid-up capital of a listed Indian company, with a combined NRI cap of 10% (can be raised to 24% by company resolution).
- F&O trading for NRIs requires a custodial participant code and is only allowed on a non-repatriation basis, using rupee funds held in India.
- NRIs must take delivery of stocks before selling; short selling is not permitted.
Frequently Asked Questions (FAQs): NRI Discount Stock Brokers in India
What is a discount broker?
A discount broker offers low-cost trading without add-on services like research or a relationship manager.
Can NRIs open accounts with discount brokers?
Yes, many top discount brokers offer NRI trading and demat accounts.
Which broker offers the lowest NRI brokerage?
Finvasia offers zero brokerage. Upstox and Zerodha have flat, low charges.
Can NRIs trade in commodities?
Most brokers allow NRIs to trade in equities and F&O. Check if commodity trading is supported for NRIs.
What documents do NRIs need to open an account?
Typically, a PAN card, passport, overseas address proof, and NRE/NRO bank details are required.
What is the difference between NRE and NRO accounts?
NRE accounts allow repatriation of funds, while NRO accounts are for non-repatriable funds.
Are there annual charges for NRI accounts?
Most brokers charge AMC for demat accounts; some offer lifetime free AMC (e.g., Fyers, Finvasia).
Which broker has the best app for NRIs?
Upstox and Zerodha are known for their powerful and easy-to-use trading apps.
How long does it take to open an NRI account?
It usually takes 5-10 working days after submitting all documents.
Can NRIs invest in IPOs and mutual funds through discount brokers?
Some brokers support IPOs and mutual funds for NRIs; check with your broker before investing.
Conclusion
Finding the best NRI discount stock broker in India is crucial for maximizing your investment returns and minimizing costs. Upstox leads the list in 2025 for its flat pricing, digital experience, and dedicated NRI support. Other top brokers like Zerodha, Angel One, and Finvasia also offer strong value. Compare features, check fees, and choose the broker that fits your needs.
Ready to start investing? Open your NRI trading account with Upstox today and take control of your financial future!
