Brokerage is one of the major factors which hurts the traders and investors, find the 7 Best Stock Broker With Lowest Brokerage Charges In India in this post.
I remember first time opening the account for trading/investing purpose was in year 2009-10, it was a local broking company in my city, and I have to personally went to the office to do all paper works, as there was no online process at that time.
The brokerages were too high, you have to either sit in their office or call for trade. This was really a barrier for normal retail traders and investors like me, which was removed firstly by Zerodha.
Most of the full time brokers at that time does not counted retail investors and traders (common people) as important part of broking industry, Zerodha by cutting the brokerage at Rs.20 in 2013 gained momentum and helped retail traders to be part of the industry.
This made the other stock brokers specially the full-time brokers jittery at first, however now the entire picture has changed with more new discount brokers offering lucrative brokerage charges to lure the customers.
You will definitely going to get surprised in this post as not only some famous name but new names are also on the list.
The list not only consist of lowest brokerage charges but the Stockbrokers with best trading platforms offering top notch trading and investing experience to its users with their innovation and research.
Few other point of discussion would be lowest Account opening charges and AMC (Annual Maintenance Charges) as well.
Keep in mind that aggregates of all segments Equity (cash), Futures and Options, Commodity (MCX), Currency (Forex) has been taken in account while ranking them.
Trust me you can not get lowest brokerage than below mentioned list of brokers from more than 319 stockbrokers in India.
So without further delay let see the list of brokers with lowest brokerage charges in India.
Stock Brokers with Lowest Brokerage Charges In India:
- Espresso Stock Broker
- Fyers Stock Broker
- Zerodha Stock Broker
- Upstox Stock Broker
- 5Paisa Stock Broker
- Groww Stock Broker
- ICICIdirect Stock Broker
Below comparison table will show you the brokerage charged by this stock brokers in hierarchy (Lowest to Highest).
Stock Broker |
Brokerage Charges |
Espresso |
Rs.20 or 0.03% (free Equity delivery) |
Fyers |
Rs.20 or 0.03% (Free Equity Delivery) |
Zerodha |
Rs.20 or 0.03% (Free Equity Delivery) |
Upstox |
Rs.20 or 0.05% (Free Equity Delivery) |
5Paisa |
Rs.20 (Free Equity Delivery) |
Groww |
Rs.20 or 0.05% (Delivery same) |
ICICIDirect |
Neo Plan, Rs.20 (Delivery 0.55%) |
As you can see in the list of lowest brokerage charges in India above a new discount broker Espresso by Sharekhan has surprised everyone due to its unique brokerage structure of “No brokerage on loss-making trades”, you might have heard of Fyers who has one of the best trading platform other then lower brokerage charges.
I have discussed in great detail below about brokerage structure of all the listed stockbrokers mentioned above with lowest brokerages charges in India.
Before we do so let us see the other important factor, i.e. account opening and AMC for these stockbrokers.
However the list is maintained on the basis of overall ranking of stockbrokers in India, such as highest number of clients (Active and total), trading platform, other charges, brokerages, customer service, investing options (different financial instruments, such as investment in IPO, FPO, NFO, BONDS, SGB, US markets Mutual funds etc.
Below will check the current account opening and AMC charges for this stockbrokers.
Stock Broker |
Account Opening Charges |
Annual maintenance Charges (AMC) |
Upstox |
Rs.99 |
Rs.300 yearly |
Zerodha |
Rs.300 |
Rs.300 yearly |
ICICIDirect |
ZERO for limited time period* |
Rs.700 (Free AMC FOR First Year) |
5Paisa |
ZERO for limited time period* |
RS.25 per month |
Fyers |
ZERO for a limited time period* |
Zero For Limited Time Period |
Espresso |
ZERO or a limited time period* |
Rs.400 yearly |
Groww |
ZERO for a limited time period* |
Rs. Zero for a limited time period |
The AMC gets charged from your trading account balance by stockbrokers mostly on quarterly basis (after 3 months).
From below table you can open the account with any of these stockbrokers within minutes online and get exclusive deals while opening the account through the link.
Stock Broker |
Open Account Here |
Upstox |
|
Zerodha |
|
ICICIDirect |
|
5Paisa |
|
Fyers |
|
Espresso |
|
Groww |
While opening account online keep your Pancard, Aadhaar Card and your signature on white piece of paper handy with you.
Also, you will need to take a selfie for the process of KYC process. Your account gets activated within 24-48 hours after submitting the required details and you can start placing trades once you receive the credentials in your email.
Now that you know the list of stockbrokers with lowest brokerage in India, let us know what you can expect from them in trading and investing space apart from low brokerage.
Some of the other Key Features of these best stockbrokers with lowest brokerage charges include:
- Universal search tool to find simple and complex stocks.
- Access to NSE/BSE cash, Futures and Options, commodities and Currencies scrips
- Cutting-edge charting tools that are above industry standards
- Japanese Candlestick Charts of multiple intervals, types and drawing styles
- Apply 100+ technical indicators on real-time charts
- Trade directly from charts with the Trade From Charts (TFC) feature
- Checkout Fundamentals of company such as Balance Sheet, Profit/loss statement, P/E, P/B ratio, Results etc.
- Set unlimited number of price alerts for instant updates
- Option chain, Option Greek Calculator, Option Moneyness, Option Scholes Calculator etc.
- Create unlimited number of customized watchlists
- Receive real-time market feeds to stay on top of your scrips
- Access predefined watch-list of Nifty 50, FINNifty and other indices
- Biometric (fingerprint and Face ID – iOS) 2FA for seamless logins and better security
- Invest in ETF’s, Gold, SIP’s in Mutual Funds, NPS, ELSS Funds, FD, RD and lot more options such as smallcase, loans, health insurance etc..
Now, Let us know discuss the brokerage structure by these stockbrokers to better understand.
1. Espresso Brokerage Charges:
With Espresso you don’t need to pay brokerage for each trade. You Pay only when you make a profit. Let us know how?
Pay Only When You Profit with Espresso:
First of all the brokerage charges are kept at decent Flat Rs 20 per order, For Intraday trades across all segments (Equity, F&O, Commodity and Currency).
There are no brokerage charges for delivery based trades at espresso. Moreover, No brokerage on loss-making trades, Let’s break it down with an example:
Suppose you make 20 trades a day every trading day of a year
20 trades a day x 250 trading days = 5,000 trades
5,000 trades x Rs 20 per transaction = Rs 1,00,000
Assuming 40% are loss-making trades, you don’t pay brokerage worth Rs 20,000!
Now let us how espresso brokerage structure works with another example. Suppose you bought TATA Motors 1000 shares @Rs.200 and sold the same @Rs.196, which means you made a loss on the trade.
Therefore espresso will only going to charge you one side of the order either buy/sell as it was a loss making trade.
Isn’t great that you don’t pay a penny on your loss making trades by using espresso stock broker. Another thing you must know in equity cash segment the brokerage charges are kept at 0.01% or Rs 20 for every executed order (whichever is lower).
What they mean is, suppose you bought stock xyz priced at Rs.100, quantity 100 on intraday basis,
so the total turnover would be bought 100, sold 100(100*200)= 20,000 on this amount they will charge either whichever amount is lower as 0.01% of 20000, is Rs.2 so they will charge that instead of flat Rs.20.
For all other segments such as derivatives (FNO) IN Equity, Commodity and Currency the brokerage charges at espresso are kept at Rs 20 for every executed order, also Zero brokerage on square-off orders in case of loss.
Get additional benefits with Espresso when you open an account through this link with no account opening charges for a limited time period*. Such as 1 year MoneyFlix subscription free and also a 30% discount on Espresso trade booster program.
2. Fyers Brokerage Charges:
Fyers charge no brokerage for equity delivery based trades as well as zero charges for any investment in pre-build portfolios which is called as thematic investing at fyers.
Whereas for intraday trades across equity, currency futures, commodity futures, it is Rs.20 or 0.03%(whichever is lower).
What they mean is, suppose you bought stock xyz priced at Rs.100, quantity 100 on intraday basis,
so the total turnover would be bought 100, sold 100(100*200)= 20,000 on this amount they will charge either whichever amount is lower as 0.03% of 20000, is Rs.6 so they will charge that instead of flat Rs.20.
To open a free trading/demat account with 0 AMC charges for a limited time period click on this link and complete registration process within minutes.
3. Zerodha Brokerage Charges:
Zerodha brokerage is what make them ahead in the game, there is no charge for taking delivery of the trades to your demat account. Whereas for intraday trades across equity, currency, commodity, it is flat Rs.20 or 0.03% (whichever is lower).
Moreover, They have also launched a dedicated platform for mutual fund investment by the name COIN, where one can invest in different mutual funds directly, without any commission.
Which means that finally you don’t have to pay up to 1.5% and 1% every year commission to the distributor/platform where you purchased the fund. These % commissions over a longer period of time compound and can become significantly big.
Open an online hassle-free paperless account with Zerodha here
4. Upstox Brokerage Charges:
At upstox you pay ₹20 /trade* or 0.05% (whichever is lower) for Intraday trading in Stocks, Future & Option, Currencies & Commodities. Whereas no brokerage at all for delivery based trades.
What they mean is, suppose you bought stock xyz priced at Rs.100, quantity 100 on intraday basis,
so the total turnover would be bought 100, sold 100(100*200)= 20,000 on this amount they will charge either whichever amount is lower as 0.05% of 20000, is Rs.10 so they will charge that instead of flat Rs.20.
Moreover for investing in mutual funds there are no brokerage or commission is charged at upstox at all.
Recently Upstox dethroned ICICIDirect to be at 2 position in India in terms of active clients which is more 2.3 million, they are not far behind Zerodha and may be in coming months you will see them at the top position.
5. ICICIdirect Brokerage Charges:
I think ICICIdirect have listened to the people demands and have slashed the brokerage in every segment. They have come up with new brokerage plan termed as NEO, Here is the new brokerage structure as per ICICIdirect from December 07,2020:
Apart from above segments i.e. equity intraday, Future and options they have also reduced the brokerage in Commodity and Currency segments:
New brokerage in commodity for ICICIDirect Neo would be @ ₹20 per order only. There would not be any brokerage on lots. New brokerage is effective from December 7, 2020.
New brokerage in currency for ICICIDirect Neo would be @ ₹20 per order only. There would not be any brokerage on lots. New brokerage is effective from December 7, 2020.
With this recent launch now of NEO, ICICIDirect has proven why they are still ranking at 3rd position in India even after being a fulltime broker in terms of active and total a clients.
So, go ahead and open an free trading/demat account now with ICICIDirect for a limited time period*. There is no better deal you can get apart from ICICIDirect as an full-time broker.
6. 5Paisa Brokerage Charges:
5Paisa do not charge any brokerage, for any segment, they only charge flat fee of Rs. 20 per executed order. Keep in mind these brokerage is for free plan and not the two add-on packs ultra and power.
Similarly you can make investments in mutual funds through monthly SIP or Lumpsum using 5paisa platform and there are Zero charges as well as no commissions.
Unlike other brokers, 5paisa offers different services depending upon the subscription package you take at the time of opening the account with them.
This means either you do not take any add on plan from 5 paisa and continue using the services with normal features or opt for 2 addon plans that they have.
They provide 2 types of add on Plans:
- Power Investor Pack
- Ultra Trader Pack
7.Groww Brokerage Charges:
At groww the brokerage charges are Rs.20 or o.o5% (whichever is lower) on every order executed.
What they mean is, suppose you bought stock xyz priced at Rs.100, quantity 100 on intraday basis,
so the total turnover would be bought 100, sold 100(100*200)= 20,000 on this amount they will charge either whichever amount is lower as 0.05% of 20000, is Rs.10 so they will charge that instead of flat Rs.20.
Below is the screenshot taken from Groww brokerage calculator for intraday trading.
Whereas brokerage charges if you do investment i.e. taking delivery of the stocks to your demat account or doing Buy today sell tomorrow (BTST) trades the brokerage charges are same as of above.
So, overall the brokerage charges are kept at quite decent priced considering the broking industry norms, however the brokerage charges for delivery trades can be kept at zero.
Conclusion:
I hope the above list of 7 best stockbrokers with lowest brokerages in India have certainly helped you in choosing the lowest brokerage brokers and best trading platform.
Just like in cooking without all ingredients in balance can’t make a dish best, similarly if you are choosing a stock broker you have to look for all the features.
Never opt any stockbroker based on just one particular USP, see what all it has apart from that.
As we have already compared the lowest brokerage charges in India now it is up to you to decide which ones suits your need.
In my opinion, Upstox have these, it is the best stock broker for any beginner who is thinking to start trading and investing in stock market online hassle free as they are offering top notch trading and investing experience to its users with their innovation and research.
At last if you are thinking why I did not spoke about margin or leverage with any above stockbrokers, it is because of SEBI Rules on Intraday margin every stockbroker is giving same margin in every segment throughout India, hence this does not matter anymore.
If you are a beginner in trading and investing, please read this amazing guide on how share market works in India?
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