1. Zerodha - 5,40,905 customers (8 year old company - currently the 3rd largest company in India after ICICI securities, HDFC securities beating Sharekhan, Motilal Oswal & Angel investors.
2. Upstox - 43,889 (backed by Ratan Tata)
3. 5Paise.com - 36,034
4. Samso securities - 29,595
5. Trade Smart online - 19,469
6. SAS online - 11,869
Aadhar based e-KYC that has cut down the time from few days to just few minutes & low cost high speed internet from Jio has helped these discount brokers.
Focus on retail investors & technology has helped them as well. Bigger firms focus only on HNIs and Wealth management.