5x in 5 financial years: Mkt share of discount brokers gains stock

Held sway over 57% of active clients in 11 months of FY23

The market share of discount brokers — such as Zerodha, Groww, Upstox, and Angel One — has grown fivefold in five financial years, with more than half of the National Stock Exchange’s (NSE’s) active client trading coming through them, reveals a report by CLSA.

For the first 11 months of 2022-23, discount brokers held sway over 57 per cent of active clients, up from 11 per cent in 2017-18.

Moreover, the number of active clients on the NSE with discount brokers has grown from just 1 million to 19 million during this period.

Active traders are those who have traded