Top brokers with the lowest brokerage charges in India
As a trader or an investor in the Indian stock market, you know the importance of reducing your costs and increasing your profits. One of the main costs that you incur is the brokerage fee that you pay to your stockbroker for carrying out your trades.
Brokerage fee is the commission that your stockbroker earns for helping you buy and sell orders in the stock market. It is typically computed as a percentage of your trade value or a flat fee per trade, whichever is more.
Brokerage fees can affect your profitability greatly, especially if you trade often or in large amounts. It can diminish your profits and lower your returns. Hence, it is wise to pick a stockbroker that has the lowest brokerage charges in India.
Top brokers with the lowest brokerage charges in India
Groww
Groww is a broker based in Bangalore that provides online discount brokerage services with a flat fee to invest in equity, IPO, and direct mutual F=funds. Groww is the brand name of Nextbillion Technology Private Limited, which is a SEBI-registered stockbroker and a member of NSE and BSE.
Groww was founded in 2016 as a platform for direct mutual fund investment. In the mid-2020s, Groww added Equity trading to its product portfolio. The company also has other investment options for its customers, such as digital gold, US stocks, and fixed deposits.
Features:
- Simple pricing model. Only Rs 20 per trade brokerage.
- No account opening fee.
- No demat AMC charges.
- Quick paperless account opening.
- Online IPO application.
- Direct mutual funds platform that gives you an extra 1.5% returns.
- Option to invest online in digital gold.
- Trading in SME shares is possible.
Charges:
Account opening fees: Free
Annual maintenance charges: Zero
Equity delivery: Rs 20 or 0.05% whichever is lower
Equity intraday: Rs 20 or 0.05% whichever is lower
Call & trade charges: Rs 50
Trading platforms:
- Groww mobile app
- Groww website version
Zerodha
As India’s top broker, Zerodha delivers fast and dependable service. Its app, Zerodha Kite, has a user-friendly interface, multiple order types, and sophisticated charting tools.
This platform provides users with access to historical data and robust charting tools. Zerodha Kite is famous for its speed and efficiency, making it suitable for traders of any skill level.
Features:
- A sophisticated charting tool with more than 100 indicators and 30 drawing tools
- Different order types and modes of execution, such as market order, limit order, stop-loss order, bracket order (BO), cover order (CO), and more.
- The basket order feature lets you execute multiple orders simultaneously.
- The console dashboard shows you a complete overview of your portfolio, holdings, positions, trades, P&L, and more.
- The ‘Coin’ platform enables you to invest in direct mutual funds without any commission
- A ‘Varsity’ platform offers free and interactive learning modules on various aspects of trading and investing.
Charges:
Account opening fees: Rs. 300
Annual maintenance charges: Rs. 300
Equity delivery: Zero
Equity intraday: 0.03%
Call & trade charges: Rs 50
Trading platforms:
- Kite 3.0 (Web-based trading platform)
- Kite Android / Kite iOS (Mobile trading app)
- Zerodha Console (Reporting dashboard)
- Zerodha Sentinel (Price alert tools)
- Zerodha Coin (Mutual fund investment)
Angel One
Angel One (previously Angel Broking) is a leading full-service broker in India, with more than 4.8 million active customers as of September 2023. They provide a powerful and flexible trading platform called Angel One Trade, which can be accessed online. They also have a mobile app.
Features:
- Angel One has a range of tools to help you understand the markets and trades. There are four tools: Speed pro, trade, app, and prime. Each one has a specific purpose for different kinds of traders and investors.
- You can get daily technical and derivative reports from Angle One for free.
- It has a flat brokerage fee for intraday trading and derivatives.
- It also gives you loans against shares.
- You can also invest in corporate bonds through Angle One.
Charges:
Account opening fees: Free
Annual maintenance charges: Rs 240
Equity delivery: Zero
Equity intraday: 0.25%
Call & trade charges: Rs 20
Trading platforms:
- Angel One App (Mobile trading app)
- Angel One Trade (Website)
- Angel SpeedPro (Trading terminal)
Upstox
Upstox offers a free online trading platform called Upstox Pro that is user-friendly and enables trading in stocks, futures, options, and currencies. This brokering platform is supported by Tiger Global & Ratan Tata and is a great low-cost option.
Features:
- This platform has a sophisticated charting tool with more than 100 indicators.
- They offer a range of third-party trading systems, such as dartstock, NEST trader, and fox trader.
- Its advanced trading platform is free of charge, which makes it more attractive to traders.
- You can invest in thousands of mutual funds with the Upstox MF Platform.
- Upstox’s margin for intraday trading is up to 20% of trade value (maximum 5x leverage), depending on the stock.
Charges:
Account opening fees: Free
Annual maintenance charges: Rs 150
Equity delivery: 2.5%
Equity Intraday: 0.05%
Call & trade charges: Rs 50
Trading platforms:
- Upstox mobile app
- Upstox website
5 Paisa
5paisa is a fast-growing and best discount broker in India. They offer low-cost financial services like online trading, mutual funds, and insurance. They have a simple and cheap brokerage model, and they charge only ₹20 per order for any kind of trade, whether it is equity delivery, intraday, F&O, or currency derivatives.
Features:
- A single account for stock, mutual fund, commodity, currency, research, and advisory investments.
- 5paisa provides traders with a state-of-the-art trading platform and free technical, derivative, and fundamental research.
- It gives traders a state-of-the-art trading platform along with free technical, derivative, and fundamental research.
- Free research and advice on stocks.
- With their premium subscriptions, 5paisa has a range of services such as portfolio analyzers, monitoring services, and more.
Charges:
Account opening fees: Free
Annual maintenance charges: Rs 300
Equity delivery: Rs 10
Equity intraday: Rs 10
Call & trade charges: Free
Trading platforms:
- 5paisa mobile app
- 5paisa web trading (5paisa.com)
- 5paisa trade terminal
Conclusion
In conclusion, choosing the best broker with the lowest brokerage charges in India is the first crucial step in your trading journey. Consider all the above-mentioned factors to choose a broker that suits your needs.
Faqs
- Why Zerodha is the most preferred platform among traders
Zerodha is one of the best and most affordable brokers in India. Zerodha provides low-cost stock and commodity trading at a flat rate of Rs 20 per executed order, no matter how big or small the order is. The equity delivery trades and mutual fund investments have no brokerage fee.
- Is it possible to switch our discount broker?
You can transfer your demat account from one DP to another, but you cannot move your F&O open positions from one broker to another. In such situations, you will need to close positions with one broker before starting with another broker.
- How do discount brokers benefit you?
The main benefit of using discount brokers is that they charge lower commission fees than full-service brokers, who provide many services, but their commission fees are usually very high.
Author Bio-
Jeny, an accomplished financial writer, explores India’s dynamic stock market landscape. With expertise in investment trends, she delves into the realm of the best stock broker in India, providing valuable insights. Known for her in-depth analysis, Jeny sheds light on industry leaders like Cheap Stock Broker, guiding readers towards informed investment decisions.
Aimee Garcia is a senior editor at ReadDive. She has 5+ years of experience in Digital Marketing. She has worked with different IT companies.