Top 10 Cheapest Stock Brokers in India 2022

Want to invest money in stock market but don’t wanna spend much on brokerage charges?

Don’t worry, we’ve got you covered? In this article we have mentioned the top 10 cheapest stock brokers in India to make it easier for you so that you can select the right one that suits your need.

As you know the stock market is one of the best establishments to invest your money in the long run. However, you can’t just buy a stock using your bank account or by calling the company and ordering shares; you’ll need to locate one of the top brokers in India.

The brokerage industry has transformed substantially over the last two decades, becoming good news for average investors. 

Initially, stockbroking was about operating with full-service brokers who demanded their clients a portion of the trading value as a brokerage fee. Then there was the idea of the cheapest stock broking.

List of Top 10 Cheapest Stock Brokers in India

Rank Cheapest Stock Broker in India Rating Top Offers
1 Zerodha 9.69/10
2 Groww 9.62/10
3 Angel broking 9.60/10
4 Sharekhan 9.57/10
5 Upstox 9.50/10
6 5Paisa 9.43/10
7 Edelweiss 9.41/10
8 ICICI Direct 9.33/10
9 IIFL 9.20/10
10 Motilal Oswal 9.0/10

Here is the list of cheapest stock brokers in India (2022) with their key offerings.

1. Zerodha

Zerodha Broking Limited

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Zerodha is one of the best discount brokers in India. It is the enormous and most widespread online markdown brokerage firm, offering services in equity, currencies, commodities, initial public offerings, and direct mutual funds.

For equity delivery businesses and direct mutual funds, Zerodha demands no brokerage. Every intraday and F&O trade requires a flat ₹20 or 0.03%. The maximum brokerage you pay with Zerodha for any transaction is ₹20 for each order.

Here are some essential features of this cheapest trading platform in India-

  • It is the largest brokerage for active clients, market volume, and new customer investment. It is one of the most protected, reliable, and consistent brokers.
  • It provides the most sophisticated internet trading instruments for your investment.
  • Equity Delivery and Mutual Funds charge you no brokerage expenses.
  • The leading brokerage fee per trade is ₹20. Likened to traditional brokers, you can reserve 60% to 90% on brokerage fees.
  • It shows intraday trading leverage of up to 20x.

2. Groww


Groww is one of the top 10 cheapest broker in India. It got founded by Lalit Kesher in 2016. It is a bargain brokerage firm that offers clients sophisticated online financial solutions.

It is known for having ideas for millennials and newcomers, as technology is the company’s most significant asset.

Everything gets accomplished electronically, which allows for more leisurely investing since everything can get done on web platforms without requiring physical mobility.

In terms of development, they have accumulated a sizable client base. They have also grown by working with 34 mutual fund houses. This business became located in Bangalore, where you can find the company’s headquarters.

They have a way of presenting their consumers with quick, simple, and transparent financial solutions, which is why the demand for Groww has increased, and investors are heavily relying on them. 

The Groww Brokerage Charges for various types of investments get highlighted the most. The best part about investing with Groww is no equity delivery fees.

Commodity trading, on the other hand, is now unavailable on Groww. Equity delivery is the most common type of trading, and the fact that there are no fees attached to it gives investors an advantage.

Equity Intraday, Equity Futures, Equity Options, Currency Futures, and Currency Options are the other trading classes with a fixed charge of ₹20 per order.

3. Angel broking

Angel One

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Angel Broking is one of the top 10 cheapest broker in India. It got founded in 1987 and is one of India’s top full-service retail brokers, providing online discount brokerage services.Stock and commodities broking, acquisition advising, margin finance, loans against shares, and financial product allocation are among the company’s investing and trading services.

Angel Broking is well-known for its foremost trading tools and financial advice. It is the first large-scale full-service broker to present its clients with discounted brokerage prices.

Visit Angel Broking’s website to open your cheapest brokerage account and commence investing/trading in the stock market. After your account has been polished, you are ready to start investing.

Before creating the account, you need to keep its advantages in your mind. So, here are some advantages of angel broking-

  • Ultra-low brokerage costs get demanded by any full-service brokerage services. It is why they get regarded as India’s best discount brokers.
  • It is a Stock broker that charges a flat cost of ₹20 per order across all sectors and exchanges.
  • Research and advice get provided at no cost. Expert offers daily, weekly, and technical research reports.
  • It offers free Trading Software (website, mobile, and trading terminal).
  • You will come across various investment alternatives, including equity trading, futures and options, commodities, PMS, mutual funds, and insurance with angel broking.
  • It has got a presence in hundreds of cities throughout India.

4. Sharekhan


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Sharekhan is one of the top brokers in India, having got founded in February 2000. (behind ICICI Direct and HDFC Securities). Sharekhan delivers brokerage services through its online trading website and 1800 offices in over 550 locations across India, including additions and franchisees.The great oldie, Sharekhan, has formed Sharekhan Espresso as the cheapest discount broker in India. Espresso provides transaction execution services to the derivatives and equity cash divisions of the NSE and BSE.

It also offers commodity trading on the NCDEX and MCX and currency trading. 

Espresso is a member of both the NSDL and the CDSL. Espresso’s primary philosophy is to improve capital gains for traders by eliminating brokerage provisions on loss-making intraday trades considered as the cheapest stock broker in India.

Sharekhan has visualized the “pay-when-you-profit-pricing” strategy for its latest discount broking offering.

5. Upstox


Upstox. Open Instant Account


Upstox is an Indian low-cost brokerage company that focuses on technology. It shows some exceptionally trading chances.On its Upstox Pro Web and Upstox Pro Mobile trading outlets, the company presents trading in several zones such as equities, commodities, currency, futures, and options. Kalaari Capital, Ratan Tata, and GVK Davix are among the best investors funded Upstox.

Upstox also offers efficient discount stock broker services and lowest brokerage fee in India thus it is amongst the Top 10 Cheapest stock broker in India. 

Here are some key features of Upstox – one of the best discount brokers in India

You must have these features in your mind before opening an account. It might help you to find out if it suits you well or not.

  • There are no expenses for maintaining your Demat account.
  • Flat ₹20 per trade brokerage across all parts at BSE, NSE, and MCX, including deliverable, intraday, and F&O.
  • A mobile trading app for Android and iOS devices is public. There are no charges in any software.
  • Web and mobile versions of After Market Order (AMO) and Cover Order are accessible with Upstox.
  • Both web and mobile versions of -Trailing-Stop/Stop-Loss (SL) are available.
  • In both equity and entity, Good-Till-Triggered (GTT) orders are available.
  • Multiple indicators are available on the Upstox Pro Web Trading Platform for monitoring markets on the fly.

6. 5Paisa


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5Paisa is one of the cheapest broker in India, headquartered in Mumbai. This brokerage firm is known for being one of the fastest-growing and having one of the cheapest brokerage costs in the industry.It is one of the first few and also one of the Top 10 Cheapest stock broker in India which has crossed more than 1 million mobile application downloads.

5Paisa is one of India’s top 10 Stock brokers, and it persists to be the country’s leading discount broker and the first fintech public company to list on the BSE and NSE. In just 4.5 years, this Stock broker attained the milestone of 1 million clients. 

It has risen to the position of 6th largest Stock broker in the country. The company commenced operations in March of 2016, exactly one year after it got founded. 

Here’s a list of some of 5Paisa’s rewards for your investments from the pool of features available

  • Regardless of the number of transactions, sections, or exchanges, there is a set cost of 20 rupees per order.
  • Spend your funds in stocks, mutual funds, commodities, currencies, research, and advice from a single account.
  • You can open a free, paperless account in 5 minutes.
  • The DP Charges are the softest they’ve ever been.
  • An account with a free mutual fund is available.
  • It is a multilingual trading app.
  • A smartphone app, a website, and a desktop trading terminal are all available for complimentary. There are no software fees.

7. Edelweiss


edelweiss Open Instant Account


Edelweiss is a full-service Stock broker with flat-fee and percentage-based brokerage agendas for its customers. Equities, F&O, Currency Derivatives, IPO, Mutual Funds, and insurance are among the company’s online and offline trading and investment assistance.Edelweiss has two brokerage plans to present to their customers-

1- Edelweiss Lite Plan- This plan has the cheapest brokerage fee of ₹10 per completed order across all segments. This strategy is for investors who can trade with their broker, providing simple support and assistance. This package does not include a relationship manager, and value-added services get priced separately based on their use.

2- Edelweiss Elite Plan- This plan has some excellent features and additional value-added services. For Cash Equity and Futures, its brokerage costs are computed as a percentage of the transaction amount, while for Options, they get charged per lot.

8. ICICI Direct

ICICI Direct

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ICICIdirect is one of the cheapest trading platform in India. It’s a member of the ICICI Group, with approximately 50 lakh users who use its online trading and investment services.At the BSE, NSE, and MCX, equities, commodity, and currency trading are unrestricted for investors. Mutual funds and initial public offerings are also available, as well as fixed deposits, bonds, NCDs, wealth products, home loans, and loans against securities.

The 3-in-1 account, which incorporates the ICICI Bank account, the ICICI Trading account, and the ICICI Demat account, is ICICI direct’s most popular service.

The three-in-one tab ensures a smooth trading experience. I-Secure Plan, ICICIdirect Prime Plan, Lifetime Prepaid Brokerage Plan, and Neo Plan are some of the brokerage plans offered by ICICIdirect.

If you suddenly decide to go with ICICI credit brokerage plans and want to register the cheapest trading account, you should be mindful of the ones they provide. 

  • 3-in-1 Account- A 3-in-1 account merges your bank, trading, and Demat accounts into one suitable package. These accounts are conjoined so that dealings between them are seamless.
  • 2-in-1 Account- A trading and Demat account gets combined in a 2-in-1 Account. Customers can merge their trading and Demat accounts utilizing their non-ICICI bank accounts. Customers can trade and invest with ICICIdirect without creating a new bank account with ICICI.


IIFL Securities

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iServe is a basic discount brokerage program offered by IIFL Securities. This plan provides Brokerage-Free Equity Delivery trades and costs a flat rate of Rs 20 per trade for intraday and F&O trades in Equity, Currency, and Commodity at the BSE, NSE, and MCX.Commencing a trading account with India Infoline is complimentary, whereas opening a Demat account costs ₹295.

Trading accounts have no upkeep fees, while Demat account holders must pay ₹450 in Demat account maintenance fees beginning in the second year, after which the first year is free. You can commence trading with a 75% margin account.

Here are some benefits you can come across if you open an account with IIFL

  • Opening account charges zero fees- There is no account opening price with IIFL.
  • For the first year, there’s no Demat AMC. 
  • A single account can get used for all investment options- With an IIFL account, you can trade or invest in shares, mutual funds, initial public offerings (IPOs), derivatives, and commodities all through one account.
  • It is a hassle-free cheapest trading platform in India- IIFL provides investors with a comprehensive trading platform that allows easy trading. The IIFL Markets App or the Trader Terminal online provides access to the forum. 

10. Motilal Oswal

Motilal Oswal

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MOSL [Motilal Oswal securities limited] is a Mumbai-based diversified monetary services firm founded in 1987. The

company presents equity, commodity, currency, and derivatives buying and selling assistance.Other items encompass Mutual Funds, Initial Public Offerings (IPOs), Gold, Insurance, and Fixed Income. MOSL’s MOAMC discretionary Portfolio Management Service is prominent (PMS). Since its opening in 2003, the PMS has exceeded the benchmark during all market revolutions.

Motilal Oswal’s varied client base includes retail consumers (including High Net Worth Individuals), mutual funds, overseas institutional investors, financial institutions, and corporate clients. 

Motilal Oswal broker organization provides three types of accounts to its customers

  • Default Account– The mundane trading and Demat account provide various investment alternatives tailored to your duration horizon and danger forbearance. This account permits you to trade in stocks, derivatives, commodities, currencies, mutual funds, IPOs, PMS, insurance, and fixed income products. Casual traders and long-term stock market players should use the default account type.
  • Value Pack– This Account is an upfront membership plan that offers substantial brokerage rate cuts. Customers can choose from various value packs and take the edge of the benefits of placing trades at a lower cost. The brokerage fees associated with the value loads are detailed below. Value packs get prepared for regular traders that deal daily.
  • Margin Pack– This Pack Account is a committed margin account that offers huge brokerage reductions upfront. Customers can choose from various margin packs and take advantage of the benefits of trading at a lower cost. The Margin Scheme get prepared for regular traders who deal daily.

FAQs on Cheapest Stock Broker in India

Q. Which is the cheapest Stock broker in India offering full-service brokerage?

Ans- Angel Broking is the cheapest stock broker in India, offering a full-service brokerage with a flat brokerage of ₹20 per trade.

Q. Which firm offers the cheapest discount broking services?

Ans- When choosing the cheapest discount broking services, Zerodha comes in front, followed by Upstox, Angel Broking, and others.

Q. Which cheapest Stock broker has the best advisory, research, and stock tips facility?

Ans- Angel broking gets to be the best for advisory, research, and stock tips facilities. The professionals provide daily, weekly study reports to the investors at no charge.

Q. Which cheapest Stock broker has the fastest trading platform?

Ans- The fastest trading platform belongs to Upstox, the country’s leading discount brokerage firm.


A cheap broker is a brokerage firm that proposes to investors discounted trading rates. Brokers present their services at the lowest brokerage fee possible to assist their clients. Clients’ buy and sell directives get completed by discount brokers, who might be people or associations.

However, they do not offer specific trading advice or other services. As a result, a bargain broker’s principal appeal is to investors who manage their investments. You will find all of these brokers, their plans, and the other cheapest brokers in India with the lowest brokerage fees.

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