Lowest Brokerage Charges for Online Trading in India [2024]

In the stockbroking landscape, the role of brokerage is paramount and most investors make their investment decisions keeping in mind the brokerage. The math is pretty simple, – the lower the brokerage, the more will be the profit margin. So, it makes sense to look for the lowest brokerage charges in India by both traders and investors.

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Since the introduction of discount broking in India, most stockbrokers have offered either Zero Brokerage Trading or flat rate stock trading services to investors. This has brought in a high level of competitiveness in the stockbroking segment. So, if you are looking for the lowest brokerage charges by a stockbroker, there are lots of options to choose from. In this post, we will look at them below. But, before them, let’s get to know about two types of stockbrokers – full-service stockbrokers and discount brokers. These services come at a cost, which is sometimes referred to as brokerage.

Conversely, discount brokers help investors and traders execute buy and sell orders with little or no charges. Simply put, their major objective is to provide the most basic stock trading services to their clients. As low-cost brokers simply charge a basic or minimum brokerage fee, irrespective of the size of the order or the number of transactions, the majority of inexperienced investors opt to engage with them.

What are The Lowest Brokerage Charges?

The least amount that a trader or investor needs to pay to the stockbroker is the lowest brokerage charges in India for online trading in 2023. The lowest brokerage costs often apply when the computed brokerage amount is less than the minimum brokerage amount since each stockbroker has a separate minimum brokerage amount determined.

According to SEBI, no stock broker may charge more than 2.5% of the entire order value as a brokerage. Keep in mind that SEBI has not defined any minimum brokerage rules, leaving it up to each stockbroker to develop his criteria for establishing a minimum brokerage amount.

If you are looking for the lowest brokerage charges for online trading in India, below are the options you can choose to compare.

List of Lowest Brokerage Charges for Online Trading in India

S.No.StockbrokerBrokerage
1.m.StockZero brokerage across all trading categories (999 Plan)
2.Kotak SecuritiesRs. 10 per trade order under the Ultra Trader Pack
3.ZerodhaRs. 20 brokerage for intraday trading
4.EdelweissFlat Rs. 10 brokerage across all segments
5.5PaisaRs. 10 per trade order under Ultra Trader Pack
6.Angel One0 brokerage for equity delivery
7.Motilal Oswal0.02% for intraday equity trading and equity futures
8.UpstoxRs 20 (or 0.1% of each transaction) brokerage
9.Sharekhan0.5% for share delivery and 0.10% for equity intraday
10.SBI Securities0.50% for equity delivery and intraday

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    M.Stock

    Mirae Asset, a leading financial services company, offers an investment platform known as m.Stock. Investors have access to a variety of trading and investing alternatives through the stockbroker. The most interesting feature of m.stock is that it has the lowest brokerage charges in India. A zero-brokerage and zero-commission pricing methodology is used by the stockbroker.

    m.Stock charges zero brokerage on Delivery, Intraday, and F&O trade orders.

    Category999 Brokerage Plan149 Brokerage Plan
    Equity DeliveryZeroZero
    Equity IntradayZero₹20 per trade.
    Equity FuturesZero₹20 per trade.
    Equity OptionsZero₹20 per trade.
    Currency FuturesZero₹20 per trade.
    Currency OptionsZero₹20 per trade.
    Commodity FuturesZero₹20 per trade.
    Commodity OptionsZero₹20 per trade.

    Kotak Securities

    As a member of Kotak Mahindra Bank, one of India’s most prominent banking groups, Kotak Securities offers straightforward and quick investment options in mutual funds, commodities, and equities. Among the many services the full-service stockbroker offers are insurance, market research, depository services, and portfolio management services (PMS).

    The lowest brokerage fees in India are offered by Kotak Securities, which costs just Rs. 20 per order for trading in futures and options and 0% commission for intraday trading.

    The Trade Free Plan, Trade Free Max Plan, and No Brokerage Plan are all offered by Kotak Securities. Intraday broking is entirely free under all three plans. A brokerage fee of 0.25%, or Rs. 20, is charged for equities delivery (whichever is higher).

    CategoryBrokerage
    Monthly Fee (Standard)
    Equity Delivery0.25% (Minimum Rs 20 per trade)
    Equity IntradayRs 0 (Free)
    Equity FuturesDelivery: Rs 20 per trade | Intraday: Free
    Equity OptionsDelivery: Rs 20 per trade | Intraday: Free
    Currency FuturesDelivery: Rs 20 per trade | Intraday: Free
    Currency OptionsDelivery: Rs 20 per trade | Intraday: Free
    Commodity FuturesDelivery: Rs 20 per trade | Intraday: Free
    Commodity OptionsDelivery: Rs 20 per trade | Intraday: Free

    Zerodha

    Zerodha comes out on top when rating the finest discount brokers in India with the lowest brokerage charges in India. In actuality, Zerodha is one of the brokers that popularised the concept of discount broking by introducing the flat-fee Rs. 20 brokerage model in India. In addition to having the lowest brokerage costs in India, the stockbroker is recognized for its speedy and user-friendly Kite trading platform, which can be used from both web browsers and mobile phones.

    Zerodha, which costs a brokerage fee of Rs. 20 per order (or 0.03%) for trading intraday stocks, equity derivatives, commodities, and currencies, is one of the top affordable brokers. There is no brokerage cost for the delivery of stocks.

    Trading SegmentsBrokerage
    Equity DeliveryFREE
    Equity IntradayFlat Rs 20 or 0.03% (whichever is lower) per traded order
    Equity FutureFlat Rs 20 or 0.03% (whichever is lower) per traded order
    Equity OptionsFlat Rs 20 per executed order (on Turnover)
    Currency FuturesFlat Rs 20 or 0.03% (whichever is lower) per traded order
    Currency OptionsFlat Rs 20 or 0.03% (whichever is lower) per trader order
    CommodityFlat Rs 20 or 0.03% (whichever is lower) per trader order
    Mutual FundRs 0 (No Limit on Direct MF)

    Edelweiss

    Nuvama Wealth & Investment Ltd, formerly Edelweiss Broking Limited, was founded in 2008 and is a Mumbai-based full-service stockbroking business. The stock broker enables investors and traders to trade and invest in all significant asset classes, such as equity, debt, IPOs, currency derivatives, commodities, and FnO.

    The usual brokerage charge for all categories under the Nuvama Lite Plan is Rs. 10 per executed transaction. This strategy is a fantastic option for investors who wish to trade independently without needing the broker’s complete help. This plan excludes relationship manager services, and value-added services are also billed individually based on usage.

    Trading SegmentBrokerage
    Monthly Charges (Flat)No Brokerage
    Equity DeliveryRs 10 per executed order.
    Equity IntradayRs 10 per executed order.
    Equity FuturesRs 10 per executed order.
    Equity OptionsRs 10 per executed order.
    Currency FuturesRs 10 per executed order.
    Currency OptionsRs 10 per executed order.
    Commodity FuturesNo Brokerage
    Commodity OptionsNo Brokerage

    5Paisa

    Mumbai-based 5 Paisa is one of India’s cheapest brokers with superior levels of growth. While it hasn’t been long since its founding, it soon became well-known in the stock brokerage industry after enlisting 1 million clients in just 4.5 years. The main objective of 5Paisa is to provide investors and traders with cutting-edge online trading platforms so they may conduct transactions easily across the BSE and NSE.

    An order-specific brokerage fee of Rs. 10 is levied through 5Paisa. A transaction cost Rs. 20 and an order cost Rs. 10 for each of the three brokerage programs that were later implemented. They have to pay to send packages.

    S. No.Trading SegmentBasic PlanPower Investor PackUltra Trader Pack
    1.Monthly Charges0Rs. 499Rs. 999
    2.Equity DeliveryRs. 20 per orderRs. 10 per orderRs. 10 per order
    3.Equity IntradayRs. 20 per orderRs. 10 per orderRs. 10 per order
    4.Equity FuturesRs. 20 per orderRs. 10 per orderRs. 10 per order
    5.Equity OptionsRs. 20 per orderRs. 10 per orderRs. 10 per order
    6.Currency FuturesRs. 20 per orderRs. 10 per orderRs. 10 per order
    7.Currency OptionsRs. 20 per orderRs. 10 per orderRs. 10 per order
    8.CommodityRs. 20 per orderRs. 10 per orderRs. 10 per order

    Angel One

    Angel One, which began operations in 1987, is one of India’s most reputable and reasonably priced stock brokers. The trading platform of the stockbroker, which is incredibly high-tech and packed with features, is its finest feature.

    In April 2019, Angel One brokerage charges were updated. It used to be customary for full-service stock brokers to levy the lowest brokerage charges in India on a specific percentage of all traded values. Angel Broking converted to the flat fee brokerage model, nevertheless, as a result of the fierce competition that discount brokers faced.

    Trading SegmentBrokerage
    Monthly Fee (Fixed)
    Equity DeliveryNo Brokerage
    Equity IntradayRs 20 per executed order
    Equity FuturesRs 20 per executed order
    Equity OptionsRs 20 per executed order
    Currency FuturesRs 20 per executed order
    Currency OptionsRs 20 per executed order
    Commodity FuturesRs 20 per executed order
    Commodity OptionsRs 20 per executed order

    Motilal Oswal

    In 1987, Mumbai-based Motilal Oswal Securities Ltd. (MOSL), a leading provider of diversified financial services, was brought into action. Investors and traders may trade in derivatives, currencies, commodities, and stocks thanks to the stockbroker. It also provides a plethora of other goods, such as IPOs, mutual funds, gold, term deposits, and insurance.

    For equities and currency options, Motilal Oswal charges brokerage of Rs 20 per lot, 0.02% for intraday equity trading and equity futures, and 0.20% for equity delivery. The commodities brokerage charge for futures and options is 0.02% and costs Rs 20 per lot. It is a well-liked option for people seeking brokers in India with the lowest brokerage charges in India.

    SegmentBrokerage
    Equity Delivery0.20%
    Equity Intraday0.02%
    Equity Futures0.02%
    Equity OptionsRs 20 per lot
    Commodity Futures0.02%
    Commodity OptionsRs 200 Per Lot
    Currency FuturesRs 20 per lot
    Currency OptionsRs 20 per lot

    Upstox

    Upstox, a top-rated discount broker in India, was formerly known as RKSC Securities. Since they first began in 2009, the cheap broker has come a long way by offering investors and traders the best of everything, including a cutting-edge trading platform, inexpensive brokerage, dependable customer support, and others. Participating in the BSE, NSE, MCX, and MCX-SX exchanges is Upstox. It is renowned for having the lowest brokerage charges in India.

    For stock delivery, Upstox charges Rs 20 (or 0.1% of each transaction) in brokerage costs (whichever is lower). The cost for intraday equity trading is set at Rs. 20 per successfully executed order or 0.05%. (whichever is lower). Intraday Upstox brokerage calculator is used to calculate the all brokerage charges.

    CategoryBrokerage
    Equity DeliveryRs 20 per executed order or 2.5% (whichever is lower)              
    Equity IntradayRs 20 per executed order or 2.5% (whichever is lower)  
    Equity FuturesRs 20 per executed order or 2.5% (whichever is lower)              
    Equity OptionsFlat Rs. 20 per order
    Currency FuturesRs 20 per executed order or 0.05% (whichever is lower)        
    Currency OptionsFlat Rs. 20 per order
    Commodity FuturesRs 20 per executed order or 0.05% (whichever is lower)        
    Commodity OptionsFlat Rs. 20 per order

    Sharekhan

    Sharekhan is one of the earliest known full-service stockbrokers in India. The BSE, NSE, MCX, and NCDEX’s equity cash and derivatives markets are serviced by the Mumbai-based trading platform Sharekhan. It also facilitates the exchange of products. Sharekhan also offers depository services, IPO investments, and mutual fund investments. Sharekhan has the lowest brokerage charges in option trading in India.

    Sharekhan has two brokerage plans – Traditional and Prepaid

    Conventional Brokerage Plan (Postpaid)

    On its traditional regular brokerage plan, Sharekhan charges 0.5% for share delivery and 0.10% for equity intraday. Beginners and casual investors should use this strategy.

    This plan comes with annual subscription prices ranging from Rs 750 to Rs 2 lakh and a duration of 6 months to 1 year. When the membership fee amount rises, the brokerage goes down. The brokerage for 750 rupees is 0.50 percent for equity delivery and 0.1 percent for equity intraday.

    The brokerage fees for Sharekhan are shown in the following table:

    SegmentBrokerage Charges
    Monthly Fee (Fixed)
    Equity Delivery0.50%
    Equity Intraday0.10%
    Equity Futures0.10%
    Equity OptionsRs 50 per lot
    Currency Futures0.10%
    Currency OptionsRs 30 per lot
    Commodity Futures0.03%
    Commodity Options0.03%

    SBI Securities

    SBICAP Securities Ltd (SSL) is the stock brokerage division of the State Bank Group. It is a wholly-owned subsidiary of SBI Capital Markets Ltd. Institutional equity, retail equity, derivatives, broking, depository services, and third-party distribution products are among the many services the stockbroker provides. The stockbroker also provides traders and investors with online trading services at the lowest brokerage charges in India.

    The company’s primary trading platform is SBI Smart. The site enables online investments in equity, derivatives, mutual funds, ETFs, initial public offerings (IPOs), and NCDs by both resident Indians and non-resident Indians (NRIs). Moreover, it provides loans for things like cars, homes, and loans secured by securities (LAS). SSL is a Depository Participant with NSDL & CDSL and registered with the Securities Exchange Board of India (Securities Exchange Board).

    The brokerage levied by SBI Securities is defined below:

    SegmentBrokerage Fee
    Monthly Fee (Fixed)
    Equity Delivery0.50%
    Equity Intraday0.05%
    Equity Futures0.05%
    Equity OptionsRs 100 per lot
    Currency Futures0.03%
    Currency OptionsRs 30 per lot
    Commodity FuturesNA
    Commodity OptionsNA

    The Conclusion

    As brokerage is a crucial component of stock trading, it’s critical to keep a close eye on the stockbrokers’ lowest fees in India. The aforementioned data is meant to assist you in locating and comparing the best stockbrokers with the lowest brokerage fees. Whether you are a novice investor or a seasoned pro, the provided information will assist you in identifying the top stockbroker in India with reasonable brokerage fees. In general, it is advised to compare brokerage fees in India before selecting a stockbroker.

    Given the large number of stockbrokers in India who provide the lowest trading fees, choosing the best stock broker may be difficult. Keep a careful eye on the top stockbrokers in India with the lowest costs because brokerage is a significant part of stock trading. The information above is intended to help you find and compare the top stockbrokers with the lowest brokerage costs. Whether you are a beginner or an experienced trader, the information offered will help you choose the best stockbroker in India with affordable brokerage costs. In India, it is often advisable to examine brokerage costs before choosing a stockbroker.

    Choosing the finest stock broker may be challenging given the enormous number of companies in India offering the lowest brokerage charges.

    FAQs – Lowest Brokerage Charges in India

    1. What does Brokerage mean in Stock Trading?

    Ans. A brokerage simply refers to an amount that is levied by the stockbroker against the trading services it offers. It is a kind of fee that is charged by the stockbroker for offering its services. Since full-service brokers offer a wide range of services, the minimum brokerage charges by full-service brokers tend to have higher brokerage than discount stockbrokers. In addition, brokerage on Future and options is found to be a bit more than equity trade.

    2. What are the Lowest Brokerage Charges in India for Online Share Trading?

    Ans. m.Stock, a trading platform by Mirae Assets charges zero brokerage across all trading segments. It is important to note that this feature is available under its 999 plan.

    3. Which Broker has the Lowest Fees?

    Ans. A tried-and-true strategy is to select a bargain stockbroker, who is known to provide either no brokerage or reduced brokerage charges than full-service stockbrokers.

    4. Is it Possible to Avoid Paying Brokerage?

    Ans. A tried-and-true strategy is to select a bargain stockbroker, who is known to provide either no brokerage or reduced brokerage charges than full-service stockbrokers.

    5. What are brokerage fees in India?

    Ans. Brokerage charges refer to the fees charged by brokers for executing trades on behalf of investors. These charges can differ among multiple brokers and can have a significant impact on the returns generated from investments.

    6. How can investors minimize brokerage charges?

    Ans. Investors can minimize brokerage charges by adopting effective trading strategies, limiting the frequency of trades, and optimizing their investment portfolio. They can also choose the right brokerage firm, leverage the services of discount brokerage firms, and keep track of emerging trends in brokerage charges.

    7. What are discount brokerage firms?

    Ans. Discount brokerage firms are brokerage firms that charge lower brokerage fees compared to traditional brokerage firms.

    8. How can investors avoid hidden brokerage charges?

    Ans. Investors can avoid hidden brokerage charges by carefully reviewing the brokerage firm’s policies and services, reading the fine print, and asking the broker for clarification on any fees that are not disclosed. It is important to choose a reputable broker with transparent pricing policies to avoid any surprises.

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