If you engage in high-volume trading without the need for extensive research and investment advisory services, it is advisable to open an account with discount brokers. Discount brokers typically charge a flat fee of Rs. 20 per order.
On the other hand, full-service brokers charge brokerage as a percentage, ranging from 0.3% to 0.55% of the trade volume, and provide a comprehensive array of research and investment advisory services.
Here is a list of the top 20 stockbrokers in India:
- Zerodha
- Upstox
- 5Paisa
- Angel Broking
- Paytm Money
- Groww
- Wisdom Capital
- IIFL (India Infoline)
- Alice Blue
- Sharekhan
- ICICI Direct
- Kotak Securities
- HDFC Securities
- Axis Direct
- Motilal Oswal
- SBI Securities
- Edelweiss
- Religare
- Geojit
- Anand Rathi
- Zerodha
1. Zerodha
Zerodha, headquartered in Bengaluru, pioneered the discount broking model in India and has become a significant player, contributing over 15% of the total retail trading volumes in the country with a client base exceeding 3 million.
Zerodha stands out for facilitating high-volume trades with minimal margin requirements, charging a flat fee of Rs. 20 for intraday and F&O trades. Notably, equity delivery and direct mutual fund investments incur no brokerage fees.
Why Zerodha Holds the Top Spot:
- Trusted Reputation: Zerodha is widely trusted among traders, establishing itself as a leading stockbroker.
- Transparent Pricing: With a fixed brokerage of Rs. 20 per trade for intraday and no brokerage on equity delivery, Zerodha offers transparent and cost-effective trading.
- Customer Support: Zerodha is known for its responsive and effective customer support services.
- Advanced Tools: The platform provides advanced charts and tools for trading and technical analysis.
Zerodha Brokerage Charges:
– Equity Delivery: Rs. 0
– Equity Intraday: Lower of Rs. 20 per executed order or 0.03%
– Equity Futures: Lower of Rs. 20 per executed order or 0.03%
– Equity Options: Rs. 20 per executed order
– Currency Futures and Options: Lower of Rs. 20 per executed order or 0.03%
– Commodity F&O: Lower of Rs. 20 per executed order or 0.03%
Zerodha Account Opening & AMC Charges:
– Trading and Demat Account Opening: Rs. 200
– Commodity Account: Rs. 100
– Trading Account Annual Maintenance Charges: Rs. 0
– Demat Account Annual Maintenance Charges: Rs. 300
- Upstox
Upstox stands out as the fastest-growing discount broker in India, catering to high-volume traders seeking generous margins (up to 15X), low brokerages, and effective trading platforms.
For intraday, F&O, currencies, and commodities trading, Upstox charges a flat brokerage fee of Rs. 20 per trade, irrespective of the trade volume, while stock delivery incurs no brokerage charges.
Why Upstox Is a Preferred Choice:
- Free Account Opening: Upstox offers free account opening, making it accessible to a wide range of traders.
- Zero AMC Charges: Traders benefit from zero account maintenance charges, reducing the overall cost of trading.
- Fixed Brokerage: A consistent brokerage of Rs. 20 per trade is applied, ensuring transparency and cost-effectiveness.
- Advanced Trading Platforms: Upstox provides advanced trading platforms equipped with charts and tools to enhance the trading experience.
Upstox Brokerage Charges:
Upstox offers two trading plans, namely the Basic Plan and the Priority Plan.
– Equity Delivery (Basic Plan): Lower of 2.5% or Rs. 20 per order
– Equity Intraday (Basic Plan): Lower of Rs. 20 per executed order or 0.05%
– Futures (Equity, Currency & Commodity) (Basic Plan): Lower of Rs. 20 per executed order or 0.05%
– Options (Equity, Currency & Commodity) (Basic Plan): Rs. 20 per executed order
Upstox Account Opening & AMC Charges:
– Demat & Trading Account Opening: Free
– Account Maintenance Charges: Zero
- 5Paisa
Ranked as a leading stockbroker, 5Paisa offers the lowest brokerage charges with a flat Rs. 10 per order under the Power Investor & Ultra Trader packs, making it an attractive choice. However, stock delivery trades may incur charges of up to Rs. 20 per order.
5Paisa provides a unified account for stock trading, mutual funds, insurance, and investments. Renowned for its mobile trading app, 5paisa ensures an easy-to-use platform, delivering an exceptional trading experience.
Why 5Paisa Secures the 3 Spot
- Lowest Brokerage Charges: Charging a minimal brokerage of Rs. 10 per trade, 5Paisa stands out for its cost-effective approach.
- Swift Account Opening Process: Offering one of the fastest account opening processes in the industry.
- Best Trading App: The 5Paisa mobile app is recognized as the best mobile trading app in India, combining ease of use with a superior interface.
5Paisa Brokerage Charges
5Paisa provides two addon packs with reduced brokerage charges:
– Without Addon Pack: Rs. 20 per order for Stock Delivery, Stock Intraday Trading, Stock F&O, Commodity F&O, and Currency F&O Trades.
– With Power Investor Pack & Ultra Trader Pack Rs. 10 per order for the same transactions.
Under the Ultra Trader pack, the first 100 trades are free every month, after which a charge of Rs. 10 per executed order applies.
5Paisa Account Opening & AMC Charges
– Demat and Trading Account Opening: Free
– Account Maintenance Charges Up to Rs. 25 per month
- Wisdom Capital
Recognized as one of the premier discount brokers in India, Wisdom Capital specializes in derivatives trading, particularly in Equity and Commodity F&O. The broker stands out with one of the most economical flat brokerages, charging only Rs. 9 per trade for derivative trading under the Pro plan.
Headquartered in Noida, Wisdom Capital boasts a widespread presence with 1000 franchises across India.
Wisdom Capital Brokerage Charges
Wisdom Capital offers three distinct trading plans – Freedom Plan, Pro Plan, and Ultimate Plan:
– Freedom Plan
– Equity Delivery: Rs. 0
– Equity Intraday: Rs. 0
– Equity Futures: Rs. 0
– Equity Options: Rs. 0
– Commodity F&O (MCX): Rs. 0
– Pro Plan
– Equity Delivery: 0.01%
– Equity Intraday: 0.01%
– Equity Futures: Rs. 9 per trade
– Equity Options: Rs. 9 per trade
– Commodity F&O (MCX): Rs. 9 per trade
– Ultimate Plan
– Equity Delivery: 0.02%
– Equity Intraday: 0.02%
– Equity Futures: 0.005%
– Equity Options: Rs. 15 per lot
– Commodity F&O (MCX): 0.005%
Wisdom Capital Account Opening & AMC Charges
Charges for opening an account online with Wisdom Capital under various plans are as follows:
– Demat & Trading account opening charges
– Freedom Plan: Rs. 0
– Pro Plan: Rs. 0
– Ultimate Plan: Rs. 0
– Trading account annual maintenance charges
– Freedom Plan: Rs. 0
– Pro Plan: Rs. 0
– Ultimate Plan: Rs. 0
– Demat account annual maintenance charges
– Lifetime AMC by paying – Rs. 999 for all plans.
- IIFL Securities
IIFL Securities, an ISO certified entity, stands as the diversified financial arm of the IIFL group. Serving as a full-service stockbroker, IIFL Securities goes beyond traditional brokerage services, offering a spectrum of value-added services, including:
– Mutual Funds
– IPO
– Portfolio Management Service
– Loans (home, personal, gold, property, and business)
– Wealth & portfolio management
– Asset management, Investment banking
IIFL Brokerage Charges
– Stock delivery: Free
– Intraday, futures & options: Flat Rs. 20 per trade
IIFL Account Opening & AMC Charges
– Trading & Demat account opening charges: Free (limited time offer)
– Annual maintenance charges
– First Year: Free
– From the Second Year onwards: Rs. 250
- Angel Broking
With over 30 years in the industry, Angel Broking stands as a seasoned full-service broking company, now offering discount brokerage rates of Rs. 20 per trade.
Angel Broking provides a range of investment options, including IPOs, OFS, bonds, and the opportunity to avail loans against shares. The company boasts a pan-India presence, covering 18,649 pin codes and serving over 2.15 million operational broking accounts.
Angel Broking Brokerage Charges
Angel Broking adopts a straightforward approach, with a maximum charge of Rs. 20 per trade across all trading segments, irrespective of the trading volume.
– Equity Delivery: Rs. 0
– Equity Intraday: Rs. 20 per trade or 0.25% (whichever is lower)
– Futures – Equity / Commodity / Currency: Rs. 20 per trade or 0.25% (whichever is lower)
– Options – Equity / Currency / Commodity: Rs. 20 per order or 0.25% (whichever is lower)
Angel Broking Account Opening & AMC Charges
– Trading account opening charges: Rs. 0
– Demat Account: Rs. 0
– Annual maintenance charges
– First Year: Free.
– Second Year onwards: Rs. 20 per month
- Sharekhan
With a two-decade presence in the industry, Sharekhan is a full-service stockbroker catering to over 2 million clients and boasting a pan-India presence across 541 cities.
The platform offers value-added services, including mutual fund investment and portfolio management services. New traders can benefit from various stock trading courses available through Sharekhan Education.
Sharekhan Brokerage Charges
– Equity Delivery: 0.50% (minimum 10 paise per share)
– Equity Intraday (on both legs): 0.10% (minimum 5 paise per share)
– Equity Futures (1st leg): 0.10%
– Equity Futures (2nd leg): 0.02%
– Equity Options (both legs): 2.5% (minimum Rs. 100 per lot)
– Currency Futures (1st leg): 0.10% (minimum 0.01 paise)
– Currency Futures (2nd leg): Nil
– Currency Options (1st leg): 2.5% or a minimum of Rs. 30 per lot
– Currency Options (2nd leg): Nil
– Commodity Futures (1st leg): 0.10%
– Commodity Futures (2nd leg): Nil
– Commodity Options: 2.5%, maximum brokerage – Rs. 250 per lot
Sharekhan Account Opening & AMC Charges
– Trading account opening charges: Rs. 0
– Demat account opening charges: Rs. 0
– Trading account annual maintenance charges: Rs. 0
– Demat account annual maintenance charges: Up to Rs. 500 depending on the scheme
- Edelweiss
With over two decades of industry presence, Edelweiss Broking offers a comprehensive platform for investing and trading in shares, derivatives (F&O), mutual funds, insurance, Gold ETF, and IPO. Their team, consisting of 11,938 professionals across 200 locations in India, caters to the needs of over a million clients.
Edelweiss provides guided investing through features like the portfolio organizer and research reports.
Edelweiss Brokerage Charges
Edelweiss offers two brokerage plans:
– Edelweiss Lite
– Equity Delivery: Rs. 10 per executed order
– Equity Intraday: Rs. 10 per executed order
– Equity Futures: Rs. 10 per executed order
– Equity Options: Rs. 10 per executed order
– Currency Futures: Rs. 10 per executed order
– Currency Options: Rs. 10 per executed order
– Edelweiss Elite
– Equity Delivery: 0.30%
– Equity Intraday: 0.03%
– Equity Futures: 0.03%
– Equity Options: Rs. 75 per lot
– Currency Futures: 0.02%
– Currency Options: Rs. 20 per lot
Users have the flexibility to switch between accounts, with account switching being free when moving from Lite to Elite. However, a fee of Rs. 2,500 is charged for switching from Elite to Lite.
Edelweiss Account Opening & AMC Charges
– Edelweiss Lite
– Account Opening: Rs. 0
– AMC Charges:
– First Year – Free
– Second Year onwards – Rs. 300
– Edelweiss Elite
– Account Opening: Rs. 0
– AMC Charges:
– First Year – Free
– Second Year onwards – Rs. 500
- Kotak Securities
With the backing of Kotak Mahindra Bank, Kotak Securities stands as a full-service stockbroker, extending its reach to 393 cities through 1539 branches and franchisees.
Services provided encompass investment opportunities in stocks, derivatives, mutual funds, IPOs, and ETFs. The platform also offers portfolio management and in-house research advisory services.
Kotak Securities Brokerage Charges
Kotak Securities presents four plans to cater to diverse trading preferences: Fixed Brokerage plan, Dynamic Brokerage plan, Advance Brokerage plan, and Shubh Trade plan.
- Fixed Brokerage Plan
– Equity Delivery: 0.49%, Min 4 paise per share
– Intraday (both sides): 0.049% or Rs. 21 per executed order, whichever is higher, Min 3 paise per share
– Futures (both sides): 0.049%, Min 3 paise per share, subject to a ceiling of 2.5% of the contract value
– Options: Rs. 300 per lot
- Dynamic Brokerage plan
For Delivery Trades
– Slabs: Brokerage (both sides)
– < Rs. 1 Lakh: 0.59%
– Rs. 1 Lakh to Rs. 5 Lakh: 0.55%
– Rs. 5 Lakh to Rs. 10 Lakh: 0.45%
– Rs. 10 Lakh to Rs. 20 Lakh: 0.36%
– Rs. 20 Lakh to Rs. 60 Lakh: 0.27%
– Rs. 60 Lakh to Rs. 2 Crores: 0.23%
– > Rs. 2 Crores: 0.18%
For Intraday Trade
– Slabs: Brokerage (both sides)
– < Rs. 25 Lakh: 0.06%
– > Rs. 25 Lakh: 0.05%
Futures
– Slabs: Brokerage (both sides)
– < Rs. 25 Lakhs: 0.06%
– Rs. 25 Lakhs to Rs. 2 Crores: 0.05%
– Rs. 2 Crores to Rs. 5 Crores: 0.04%
– > Rs. 5 Crores: 0.03%
Options – Brokerage is applicable on both sides
– Monthly Premium Volume: Intraday Brokerage, Settlement Brokerage, Minimum Brokerage per lot
– Up to Rs. 4 Lakhs: 2.5%, 2.5%, Rs. 300
– Rs. 4 Lakhs to Rs. 11 Lakh: 2.25%, 2.5%, Rs. 240
– > Rs. 11 Lakhs: 1.8%, 2.3%, Rs. 180
Currency Derivatives
– Monthly Volume Slab, Currency Futures, Currency Options
– Rs. 0 to Rs. 3 Crores: 0.040% or Rs. 20, whichever is higher, Rs. 20 per lot
– Rs. 3 Crores to Rs. 8 Crores: 0.036% or Rs. 18, whichever is higher, Rs. 18 per lot
– Rs. 8 Crores to Rs. 15 Crores: 0.030% or Rs. 15, whichever is higher, Rs. 15 per lot
– Rs. 15 Crores to Rs. 30 Crores: 0.020% or Rs. 10, whichever is higher, Rs. 10 per lot
– > Rs. 30 Crores: 0.015% or Rs. 7.5, whichever is higher, Rs. 7.5 per lot
- Motilal Oswal
Bringing three decades of industry experience, Motilal Oswal stands as a prominent full-service stockbroker, renowned for its robust research advisory. The broker boasts an in-house research team covering 260+ companies & stocks across 21 sectors, allocating almost 10% of revenue to research, hiring, and training.
Motilal Oswal provides a wide array of reports, including daily, weekly, monthly, quarterly, and annual insights on stock markets, companies, various sectors, market analysis, and thematic reports.
Brokerage, Admin, and AMC Charges
Motilal Oswal offers three distinct plans catering to diverse trading needs: Value Pack, Margin Scheme, and AMC 999 Plan.
- Value Pack
– Brokerage Charges
– Equity Delivery: 0.40% to 0.10% (varies with the value)
– Intraday (on each leg): 0.040% to 0.010%
– Futures Equity & Currency (on each leg): 0.040% to 0.010%
– Futures Commodity (on each leg): 0.030% to 0.007%
– Options Equity (per lot on each leg): Rs. 50 to Rs. 20
– Options Currency (per lot on each leg): Rs. 20 to Rs. 8
– Admin and AMC Charges
– Admin Charges: Rs. 199 annually from the first year
– AMC Charges: NIL for the first year, Rs. 299 per annum from the second year onwards
- Margin Scheme
– Brokerage Charges
– Delivery, Intraday (on each leg), Futures Equity (on each leg): 0.50% to 0.02%
– Options Equity (per lot), Currency F&O (per lot): Rs. 100 to Rs. 25
– Commodity Futures (on each leg): 0.04% to 0.01%
– Admin and AMC Charges
– Admin Fee p.a: Rs. 199 to NIL
– AMC Fee p.a: Rs. 800 to NIL
- AMC 999 Plan
– Brokerage Charges
– Equity Delivery: 0.50%
– Equity Intraday (on each leg), Equity Futures (on each leg): 0.05%
– Equity Options (per lot), Currency Futures and Options (per lot): Rs. 100 to Rs. 20
– Commodity F&O (on each leg): 0.50%
– Admin and AMC Charges
– Admin Charges: Rs. 199 annually
– AMC Charges: Rs. 800 annually
Motilal Oswal Account Opening Charges
– Trading account opening charges: Rs. 0
– Demat account opening charges: Rs. 999 (currently waived off)
- ICICI Direct
ICICI Direct stands out for its comprehensive research covering stocks, companies, markets, and mutual funds, with reports available on both the website and trading page. The research spectrum spans pre-market views, intraday recommendations, monthly outlooks, and long-term recommendations, providing insights from daily to yearly perspectives.
ICICI Direct Brokerage Charges
ICICI Direct features multiple plans to cater to diverse trading preferences:
- i-Secure Plan
– Brokerage Charges
– Equity Delivery: 0.55% (including buy and sell)
– Equity Intraday: 0.275% (the second leg is not charged)
– Equity Futures: 0.050% plus a flat brokerage of Rs. 50 on the second leg
– Equity Options: Rs. 95 per lot plus a flat brokerage of Rs. 50 on the second leg
– Currency/Commodity Futures: Rs. 20 per order
– The brokerage for Margin and Margin Plus under the i-Secure Plan is 0.050%.
- Prepaid Brokerage Plan
– Brokerage Charges
– Delivery: 0.25% to 0.09%
– Intraday/Futures: 0.025% to 0.009%
– Equity Options: Rs. 35 to Rs. 10 per lot
– Currency F&O, Commodity Futures: Rs. 20 per order
– Both buy and sell legs of Intra-day Futures & Options will be charged as per applicable brokerage rates.
- ICICI Direct Prime Plan
– Brokerage Charges
– Delivery: 0.27% to 0.15%
– Intraday/Futures: 0.027% to 0.015%
– Equity Options: Rs. 40 to Rs. 20 per lot
– Currency F&O, Commodity Futures: Rs. 20 per order
- ICICI Direct Neo Plan
– Brokerage Charges
– Equity Intraday: Rs. 20 per order
– Equity Futures: Rs. 0 per order
– Equity Options, Currency F&O, Commodity F&O: Rs. 20 per order
– A one-time subscription fee of Rs. 299 is applicable for the Neo plan, and the F&O brokerage is charged on both legs.
ICICI Direct Account Opening & AMC Charges
– Trading and Demat account opening charges: Rs. 0
– Trading account annual maintenance charges: Rs. 0
– Demat account annual maintenance charges: Rs. 700
