One of the major aspects of choosing a stockbroker for stock trading is the brokerage levied by the broker. In fact, it is the most crucial element in broker selection. This is because traders and investors invest in stocks to gain profit, and paying higher brokerage means reducing the margin. So, it makes complete sense to opt for the best discount broker in India with minimum brokerage charges. With the advent of discount broking in India, investors have got the opportunity to trade in stocks at even zero brokerage or flat brokerage approach. In this blog, we’re serving up a delicious dish of the lowest brokerage charges in India, sprinkled with a pinch of humor to keep things entertaining.
Since there are two types of stock brokers in India – full-service stock brokers and discount stock brokers, both follow their own brokerage charging pattern.
Full-service stock brokers, as their name suggests, are stockbrokers that provide other services such as portfolio management, financial planning, stock research, and others in addition to letting customers purchase and sell stocks. In exchange for these services, which are also known as brokerage, they charge a fixed sum.
Discount brokers, on the other hand, assist traders and investors in executing buy and sell orders with little to no commission. Simply put, their main goal is to offer their consumers the most fundamental stock trading services possible. The majority of novice investors choose to work with cheap brokers since they only charge a basic or minimum brokerage fee, regardless of the amount of the order or the number of trades.
What do the lowest brokerage or minimum brokerage charges mean?
The lower brokerage fee is the least sum that a trader or investor must pay to the stockbroker. As each stockbroker has a different minimum brokerage amount established, the lowest brokerage fees usually apply when the computed brokerage amount is less than the minimum brokerage amount.
No stock broker may charge more than 2.5% of the total order amount as a brokerage, according to SEBI. It is crucial to remember that SEBI has not established any minimum brokerage requirements; therefore, each stockbroker is free to determine his own standards for determining a minimum brokerage amount.
However, if you are in search of a stockbroker with the lowest brokerage charges in India, here are the options you can choose to explore.
| S. No | Stockbroker | Lowest Brokerage Charges |
| 1 | m.Stock | 0 Brokerage across all segments |
| 2 | Kotak Securities | Zero for intraday trading |
| 3 | Zerodha | Zero for equity delivery segment |
| 4 | Edelweiss | Rs. 10 across all segments |
| 5 | Angel One | 0 brokerage for equity delivery |
| 6 | 5 Paisa | Rs. 20 per order |
| 7 | Upstox | Rs 20 per executed order or 2.5% (whichever is lower) for equity delivery |
| 8 | Motilal Oswal | 0.20% for equity delivery |
| 9 | SBI Securities | ₹20 per trade for Intraday & F&O. |
| 10 | Sharekhan | 0.10% for equity intraday & futures |
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m.Stock
m.Stock is an investing platform by Mirae Asset, an emerging financial services firm. The stockbroker offers a wide range of trading and investment opportunities to investors. The most salient thing about m.stock is its lowest brokerage charges in India. The stockbroker follows a zero-brokerage and zero-commission pricing model.
In regard to brokerage, m.Stock levies no brokerage on intraday, delivery & F&O trades.
| 999 Brokerage Plan | 149 Brokerage Plan | |
| Equity Delivery | Zero | Zero |
| Equity Intraday | Zero | ₹20 per trade |
| Equity Futures | Zero | ₹20 per trade |
| Equity Options | Zero | ₹20 per trade |
| Currency Futures | Zero | ₹20 per trade |
| Currency Options | Zero | ₹20 per trade |
| Commodity Futures | Zero | ₹20 per trade |
| Commodity Options | Zero | ₹20 per trade |
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Kotak Securities
Being a part of India’s renowned banking group, Kotak Mahindra Bank, Kotak Securities, provides simple and rapid investing alternatives in mutual funds, commodities, and stocks. The full-service stockbroker provides a wide variety of services, including insurance, market research, depository services, and portfolio management services (PMS).
Kotak Securities provides the lowest brokerage charges in India, including 0% commission for intraday trading and just Rs. 20 per order for trading in futures and options.
Kotak Securities provides the Trade Free Plan, Trade Free Max Plan, and No Brokerage Plan. In all three schemes, intraday brokerage is completely free. The brokerage fee for equity delivery is 0.25%, or Rs. 20 (whichever is higher).
| Category | Brokerage |
| Monthly Fee (Standard) | |
| Equity Delivery | 0.25% (Minimum Rs 20 per trade) |
| Equity Intraday | Free |
| Equity Futures | Delivery: Rs 20 per trade | Intraday: Free |
| Equity Options | Delivery: Rs 20 per trade | Intraday: Free |
| Currency Futures | Delivery: Rs 20 per trade | Intraday: Free |
| Currency Options | Delivery: Rs 20 per trade | Intraday: Free |
| Commodity Futures | Delivery: Rs 20 per trade | Intraday: Free |
| Commodity Options | Delivery: Rs 20 per trade | Intraday: Free |
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Zerodha
When it comes to ranking the best discount brokers in India with the lowest brokerage fees, Zerodha comes out on top. In reality, Zerodha is one broker that first introduced the flat-fee Rs. 20 brokerage model in India, pioneering the idea of bargain broking. The stock broker is renowned for its quick and user-friendly Kite trading platform, which can be used from both web browsers and mobile phones, in addition to having the lowest brokerage fees in India.
One of the best inexpensive brokers is Zerodha, which charges a brokerage fee of Rs. 20 per order (or 0.03%) for trading in stock intraday, equity derivatives, commodities, and currencies. For the equities delivery sector, there is no brokerage fee.
| Trading Category | Brokerage |
| Equity Delivery | Rs 0 (Free) |
| Equity Intraday | Flat Rs 20 or 0.03% (whichever is lower) per traded order |
| Equity Future | Flat Rs 20 or 0.03% (whichever is lower) per traded order |
| Equity Options | Flat Rs 20 per executed order (on Turnover) |
| Currency Futures | Flat Rs 20 or 0.03% (whichever is lower) per traded order |
| Currency Options | Flat Rs 20 or 0.03% (whichever is lower) per trader order |
| Commodity | Flat Rs 20 or 0.03% (whichever is lower) per trader order |
| Mutual Fund | Rs 0 (No Limit on Direct MF) |
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Edelweiss
Set up in 2008, Nuvama Wealth & Investment Limited (earlier known as Edelweiss Broking Limited) is a full-service stockbroking firm based out of Mumbai. The stockbroker allows traders and investors to invest and trade in all leading asset categories like Equity, Debt, Mutual Funds, IPOs, Currency Derivatives, commodities, and Futures & Options.
The brokerage levied by Nuvama Lite Plan is standard Rs. 10 per executed order across all categories. This plan is a wonderful choice for investors who want to trade on their own without requiring full-fledged support from the broker. You do not get relationship manager service under this plan, and the value-added services also get charged separately based on their use.
| Category | Brokerage |
| Monthly Fee (Fixed) | NA |
| 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 |
| Commodity Futures | Rs 10 per executed order |
| Commodity Options | Rs 10 per executed order |
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Angel One
Started operating in 1987, Angel One is one of the most reliable and affordable best stock brokers in India. The best thing about the stock broker is its trading platform which is amazingly high-tech and loaded with multiple features.
Angel Broking brokerage charges were revised in April 2019. Previously, the stockbroker was used to charge brokerage on a certain percentage of total traded values, which is common among full-service stock brokers. However, due to the intense competition posed by discount brokers, Angel Broking switched to the flat fee brokerage model.
| Category | Brokerage Charges |
| Monthly Fee (Fixed) | NA |
| Equity Delivery | Rs 0 (Free) |
| Equity Intraday | Rs 20 per executed order |
| Equity Futures | Rs 20 per executed order |
| Equity Options | Rs 20 per executed order |
| Currency Futures | Rs 20 per executed order |
| Currency Options | Rs 20 per executed order |
| Commodity Futures | Rs 20 per executed order |
| Commodity Options | Rs 20 per executed order |
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5 Paisa
One of the fastest growing discount brokers in India is Mumbai-based 5 Paisa. Though there has been not much time passed since its inception, it quickly rose to prominence in the stock brokerage sector after signing up 1 million clients in a span of 4.5 years. Offering investors and traders cutting-edge online trading platforms so they may transact effortlessly across the BSE and NSE is 5Paisa’s primary goal.
5Paisa is used to charge a brokerage fee of Rs. 10 per order. Afterwards, however, they introduced three brokerage programmes, each of which charged Rs. 20 for a transaction and Rs. 10 for an order. It costs them money to send packages.
| S. No. | Trading Category | Basic Plan | Power Investor Pack | Ultra Trader Pack |
| 1 | Monthly Charges | 0 | Rs. 499 | Rs. 999 |
| 2 | Equity Delivery | Rs. 20 per order | Rs. 10 per order | Rs. 10 per order |
| 3 | Equity Intraday | Rs. 20 per order | Rs. 10 per order | Rs. 10 per order |
| 4 | Equity Futures | Rs. 20 per order | Rs. 10 per order | Rs. 10 per order |
| 5 | Equity Options | Rs. 20 per order | Rs. 10 per order | Rs. 10 per order |
| 6 | Currency Futures | Rs. 20 per order | Rs. 10 per order | Rs. 10 per order |
| 7 | Currency Options | Rs. 20 per order | Rs. 10 per order | Rs. 10 per order |
| 8 | Commodity | Rs. 20 per order | Rs. 10 per order | Rs. 10 per order |
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Upstox
One of India’s major bargain brokers, Upstox, was once known as RKSC Securities. The cheap broker has gone a long way since it started in 2009 by giving traders and investors the best of everything, including a cutting-edge trading platform, affordable brokerage, trustworthy customer service, and others. Upstox is a participant in the BSE, NSE, MCX, and MCX-SX exchanges. It is known for its low brokerage charges in the market.
Upstox charges Rs 20 (or 0.1% of each order) in brokerage fees for equities deliveries (whichever is lower). The fee for intraday equities trades is fixed at Rs. 20 per completed order, or 0.05% (whichever is lower).
| Trade Segment | Brokerage |
| Equity Delivery | Rs 20 per executed order or 2.5% (whichever is lower) |
| Equity Intraday | Rs 20 per executed order or 2.5% (whichever is lower) |
| Equity Futures | Rs 20 per executed order or 2.5% (whichever is lower) |
| Equity Options | Flat Rs. 20 per order |
| Currency Futures | Rs 20 per executed order or 0.05% (whichever is lower) |
| Currency Options | Flat Rs. 20 per order |
| Commodity Futures | Rs 20 per executed order or 0.05% (whichever is lower) |
| Commodity Options | Flat Rs. 20 per order |
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Motilal Oswal
Motilal Oswal Securities Ltd. (MOSL), a Mumbai-based provider of financial services, was founded in 1987. The stock broker enables investors and traders to trade in derivatives, currencies, commodities, and equities. It also offers a number of additional products, including as fixed deposits, insurance, gold, mutual funds, and IPOs.
The brokerage fees of Motilal Oswal are Rs 20 per lot for equity and currency options, 0.02% for equity intraday & futures, and 0.20% for equity delivery. For futures and options, the commodity brokerage fee is 0.02%, and it costs Rs 20 per lot. It is one of the popular choices for those looking for brokers with the lowest brokerage charges in India.
| Segment | Brokerage |
| Equity Delivery | 0.20% |
| Equity Intraday | 0.02% |
| Equity Futures | 0.02% |
| Equity Options | Rs 20 per lot |
| Commodity Futures | 0.02% |
| Commodity Options | Rs 200 Per Lot |
| Currency Futures | Rs 20 per lot |
| Currency Options | Rs 20 per lot |
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SBI Securities
The State Bank Group’s stock brokerage subsidiary is called SBICAP Securities Limited (SSL). SBI Capital Markets Ltd. owns a 100% stake in it. Including retail equity, institutional equity, broking, derivatives, depository services, and third-party distribution products, the full-service stock broker provides a broad variety of trading and investing services at the lowest brokerage charges.
SBI Securities charges a minimum fee of Rs. 10 per order for trading.
| Segment | Brokerage Fee |
| Monthly Fee (Fixed) | |
| Equity Delivery | 0.50% |
| Equity Intraday | 0.05% |
| Equity Futures | 0.05% |
| Equity Options | Rs 100 per lot |
| Currency Futures | 0.03% |
| Currency Options | Rs 30 per lot |
| Commodity Futures | NA |
| Commodity Options | NA |
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Sharekhan
Sharekhan is one of India’s first full-service stockbrokers. Sharekhan, a trading platform based in Mumbai, provides trading services for the equities cash and derivatives markets on the BSE, NSE, MCX, and NCDEX. Also, it provides to trade in goods. IPO and mutual fund investments, as well as depository services, are also available through Sharekhan. The lower brokerage option trading is a wonderful feature by Sharekhan.
The following table lists Sharekhan’s brokerage charges:
| Segment | Brokerage Charges |
| Monthly Fee (Fixed) | |
| Equity Delivery | 0.50% |
| Equity Intraday | 0.10% |
| Equity Futures | 0.10% |
| Equity Options | Rs 50 per lot |
| Currency Futures | 0.10% |
| Currency Options | Rs 30 per lot |
| Commodity Futures | 0.03% |
| Commodity Options | 0.03% |
The Conclusion
Since brokerage is an important aspect in stock trading, it is necessary to keep a close check on the lowest charges in India being charged by the stockbrokers. The aforementioned information is intended to help you find and compare the top stockbrokers with lowest brokerage charges. Whether you are a new investors or a long-time experts, the given information would help you find the best stockbroker in India with low brokerage charges. In general, it is recommended to do brokerage charges comparison in India before choosing a stockbroker.
It may be challenging to select the best stock broker given the abundance of firms offering the lowest brokerage charges in India. In addition to brokerage, you should consider other factors like customer service assistance, account opening fees, chart availability, research reports, and other investment goods when choosing a stock broker who can help you open a low brokerage trading account and achieve your financial goals and investment horizon.
FAQs About Lowest Brokerage Charges-
1. What is Brokerage?
Brokerage refers to an amount that a trader or investor is supposed to pay to a brokerage tp avail its broking services. Brokerage differs from broker to broker and platform to platform. But, speaking generally, brokerage on intraday, futures, and options trading is found to be a slight higher than equity delivery.
2. Which stock broker offers zero brokerage services?
Some of the top stockbrokers in India with zero brokerage are Zerodha, Angel One, and others.
3. Is m.Stock levy, no brokerage?
Stock app enables traders and investor to trade free for life with zero brokerage across all segment under its Rs. 999 plan.
4. Does Zerodha provide zero brokerage services?
The best thing about Zerodha is that it levies zero brokerage for equity delivery trade.
5. Can I avoid paying brokerage?
One proven way is to choose a discount broker, which is known to offer either zero brokerage or lower brokerage charges as compared to full-service stockbrokers.
6. Which one has low brokerage for F&O – 5Paisa, Upstox, or Zerodha?
5Paisa is used to charge a brokerage fee of Rs. 10 per order, which is very highly competitive than Upstox and Zerodha.
7. Zerodha or Upstox – Which is better?
Zerodha and Upstox are the top two stockbrokers in India. However, Zerodha is found to be a better option than Upstox due to its simple brokerage plan, technology adaptation, and customer care. In addition, Zerodha has advanced trading platforms, research tools, and investor education programs.