Top 10 Brokers with Lowest Brokerage Charges in India 2024

Every trader and investor aspires to maximize their returns in the dynamic world of the stock market. Achieving success in this complex and ever-changing landscape requires a nuanced understanding of various factors that can significantly influence the outcomes of trades and investments.

To navigate the financial market effectively, traders and investors must adopt a strategic approach and should keep in mind the key considerations that can make the crucial difference between success and setback.

To maximize returns in the stock market, one pivotal strategy is to save on your expenses, particularly brokerage costs. You can save on brokerage costs by choosing a brokerage platform that offers the lowest brokerage charges in the market. Among various brokers in the market, few offer the lowest brokerage charges. We have compiled a list of the top 10 brokers with the lowest brokerage charges in India.

Let’s understand how you can analyze your needs and identify a broker that can effectively minimize your trading costs. For instance, if you are a day trader, you can search to find a broker that offers the lowest brokerage charges specifically for intraday trading. This targeted approach allows you to pinpoint the broker that best aligns with your requirements in terms of cost-effectiveness, ensuring that you make well-informed decisions to optimize your overall trading expenditures.

List of Top 10 brokers with the lowest brokerage charges in India

Lowest brokerage charges in India 2024

Zerodha

Zerodha is India’s biggest stockbroker and one of the best broker for trading, offering online trading and investing in various financial instruments at low prices. Zerodha has a flagship trading platform called Kite, which is a fast and user-friendly app that works on any device. Zerodha also provides free and open market education through Varsity and TradingQ&A and invests in fintech startups that offer tailored services for its customers. Zerodha was founded in 2010 to break all barriers that traders and investors face in India.

Charges

Angel One

Established in 1987, Angel One (Angel One) stands as one of India’s premier full-service retail brokers specializing in online discount brokerage services. With a diverse range of investment and trading solutions, the company caters to various needs, including stock and commodity broking, investment advisory services, margin funding, loans against shares, and distribution of financial products.

Angel One has an extensive local presence, with 110 branches, 11,000 trading terminals, and over 18,000 authorized persons spread across 1800+ cities in India as of 2022. The company has garnered a substantial user base, with over 1 crore registered users and app downloads. Offering a unified trading app, Angel One provides a seamless platform for trading and investing in a wide array of securities.

Charges

5Paisa

5paisa stands out as a prominent online stockbroker and the best discount broker in India, providing discount brokerage services to retail investors in India. Established as 5paisa Capital Ltd, the company is professionally managed and promoted by the founders of IIFL (India Infoline). As of March 2021, it has a substantial client base, serving over 1.2 million investors.

5paisa is known for its flat-rate discount brokerage model offering online trading in equity, commodity, and currency on major exchanges such as BSE, NSE, and MCX. Irrespective of the trade’s size, segment, or exchange, the broker charges a flat fee of ₹ 20 brokerage per trade.

5Paisa Brokerage Charges

Upstox

Upstox, a prominent player in the Indian brokerage industry, distinguishes itself as a technology-driven, low-cost broking firm, providing trading opportunities at highly competitive prices. The company facilitates trading across various segments, including equities, commodities, currency, futures, and options, accessible through its low brokerage trading app, including Upstox Pro Web and Upstox Pro Mobile.

One of Upstox’s key strengths lies in its strategic backing by a group of notable investors, including Kalaari Capital, Ratan Tata, and GVK Davix. This support not only underscores the company’s credibility but also contributes to its ability to offer innovative and efficient services to its clients.

Charges

Dhan

Dhan, a Mumbai-based financial services company incorporated in 2021, has quickly emerged as a dynamic player in the Indian brokerage industry. The platform is registered with SEBI as a stockbroker and with CDSL as a depository participant. It is also a member of the NSE, BSE, and MCX stock exchanges. The firm’s offerings encompass a diverse range of financial products and services, including stocks, ETFs, options, futures, commodities, and currency trading.

Dhan distinguishes itself through its commitment to delivering a lightning-fast investing and trading experience, driven by a technology-led and product-based approach. The firm has introduced innovative investment alternatives, such as small cases, which are curated portfolios of stocks or ETFs aligned with different themes and strategies.

Charges

Groww

Groww, founded in 2016 has rapidly evolved into a leading investment platform with a vision to simplify and make investing transparent and accessible to every Indian. Originally launched as a platform for investing in direct mutual funds, Groww has become one of the most widely used investment platforms, boasting the highest number of active users, second only to Zerodha.

Owned by NextBillion Technology Pvt Ltd, Groww has positioned itself as a broker specializing in direct mutual funds investment with zero brokerage charges. It is registered with SEBI, BSE, and NSE, serving as both a stockbroker and a depository participant. The platform offers a comprehensive range of investment options, including mutual funds, stocks, equity futures and options (F&O), IPOs, ETFs, and even US stocks.

Charges

Fyers

Fyers, which stands for “Focus Your Energy and Reform Yourself,” is a Bangalore-based discount brokerage firm. It has established itself as one of the prominent discount brokers in India, known for its focus on technology and providing a user-friendly experience for traders and investors.

Fyers facilitates trading in various financial instruments, including stocks, derivatives, commodities, and currencies. In addition to traditional products, the platform also supports investments in IPOs, direct mutual funds, sovereign gold bonds (SGBs), thematic investments, offers for sale (OFS), T-bills, and government bonds.

From a cost perspective, Fyers charges a maximum brokerage fee of ₹ 20 per order for all trades executed on the BSE, NSE, and MCX, while delivery trading incurs no brokerage charges. This pricing model makes Fyers an attractive choice for cost-conscious traders.

Charges

Alice Blue

Alice Blue, incorporated in 2006 and headquartered in Bangalore, is a prominent discount stock broker offering trading services in stocks and commodities on major exchanges such as BSE, NSE, and MCX. Additionally, Alice Blue provides depository services, including demat accounts, through its membership with CDSL.

The brokerage firm stands out for its straightforward and cost-effective brokerage plan known as Freedom 15 (F15). Under this plan, equity delivery trades are brokerage-free, meaning customers do not incur any brokerage fees for transactions in this segment. For other segments, Alice Blue charges a flat ₹ 15 per executed order or 0.05%, whichever is lower, ensuring minimal costs for traders.

Charges

Samco

SAMCO Securities, established in 2015, has positioned itself as a leading investment technology company in India, providing a diverse range of securities for trading and investment. The offerings include stocks, equity derivatives, currency derivatives, commodities, mutual funds, and IPOs.

Known for its ultra-low brokerage, unique margin products, and free trading software, SAMCO has become a prominent player in the financial technology landscape. The company was founded by Mr. Jimeet Modi, the CEO of Samco Group.

Charges

Tradingo

Indore-based Tradingo, founded in 2016, is a modern stock trading platform. The company is powered by Swastika Investmart Limited, a financial services company with 28 years of industry experience, and is listed on BSE.

The platform offers two types of brokerage plans: the discount brokerage plan and the premium brokerage plan. Tradingo provides the facility to invest in a variety of exchanges, including NSE, BSE, MCX, NCDEX, and MSEI. It is known for its diversity and offers a wide range of financial services to customers at affordable prices. The platform allows investment in equity, derivatives, futures, options, IPOs, mutual funds, bonds, and more.

Charges

Conclusion

In conclusion, choosing a broker with the lowest brokerage charges can help you save on your trading costs and maximize your returns in the stock market. However, brokerage charges comparison is not the only factor to consider when selecting a broker. You should also look at other aspects such as trading platforms, customer service, research, advisory, and value-added services. Depending on your trading style, preferences, and goals, you can compare the features and benefits of different brokers and find the one that suits you best.

FAQs – Lowest Brokerage Charges