Top 10 Cheapest Stock Brokers in India in 2020
Initially, stock broking used to be all about working with the full service brokers who used to charge some percentage of trading value from the clients as their brokerage. This brokerage used to be irrespective of the profit and loss you make. Brokerage is fixed and you have to give it to the stockbroker. Therefore, it used to eat up a large number of profits of the clients. Then the concept of discount brokers was introduced.
Zerodha was the first-ever company to charge flat Rs. 20 per trade executed at intraday level and “Zero” brokerage on delivery trade. So the stock broker did not use to ask about the trading value from the client.
Then, gradually the industry saw the introduction of a number of brands which charged either a flat rate or offered a subscription-based model of pricing for unlimited trades. Today, you will find at least 50 such discount stock brokers in India that offer different plans which focus mainly on the technology and client education
Top 10 Cheapest Stock Brokers in India
1. 5 Paisa
Awarded as the ‘Best Digital Start-up of the Year 2017”, 5 paisa is one of the first few and also one of the Top 10 Cheapest stock brokers in India which has crossed more than 1 million mobile application downloads. It helps the users manage all of their investments with one single power packed application.
They offer mutual funds, online trading, insurance, Robo advisory and a number of other services to the clients.
Why choose 5 paisa?
· You can get a free of cost mutual funds account
· You can trade with flat fee of Rs. 10 per order executed in equity, currencies and Futures & Options
Brokerage charges- Rs. Rs. 10 per order
|Brokerage Plan||Rs. 10 per order||Flat Free||NA|
|Equity Delivery||Rs. 10 per trader||Equity Intraday||Rs. 10 per trader|
|Equity Futures||Rs. 10 per trader||Equity Options||Rs. 10 per trader|
|Currency Futures||Rs. 10 per trader||Currency Options||Rs. 10 per trader|
Zerodha offers an excellent online trading platform, free of cost equity investments and charge a flat rate of Rs. 20 intraday. Their products are sleek, modern and advanced. Their exclusive pricing model and homegrown technology have helped them become the 2nd largest stock broking firm in India.
Why choose Zerodha?
· You get free of cost equity delivery
· They charge Rs. 20 intraday equity and Futures and Options trade
· You can open your online stock broking account instantly and start trading
|Brokerage Plan||Zero Brokerage||Flat Fee||NA|
|Equity Delivery||Zero Brokerage||Equity Intraday||0.01% or Rs. 20 per executed order whichever is lower|
|Equity Futures||0.01% or Rs. 20 per executed order whichever is lower||Equity Options||Flat Rs. 20 per executed order|
|Currency Futures||0.01% or Rs. 20 per executed order whichever is lower||Currency Options||0.01% or Rs. 20 per executed order whichever is lower|
|Commodity||0.01% or Rs. 20 per executed order whichever is lower|
It is a group of young and passionate entrepreneurs who have an extensive experience in trading and stock broking. They are transparent and ready to take the initiative for being the pioneer of change. They come up with a lot of new ideas for making investment an easy and noncomplex experience for the users.
Why choose FYERS?
· Free of cost investment
· Max leverage
· Lowest charges on brokerage
· Low latency and fast trading execution
· Strong disaster management system
|Brokerage Plan||Zero brokerage per order||Flat Fee||Rs. 20 per order|
|Equity Delivery||Free||Equity Intraday||Rs. 20 per executed per executed order or 0.01%(whichever is lower)|
|Equity Futures||Rs. 20 per executed per executed order or 0.01%(whichever is lower)||Equity Options||Rs. 20 per order|
|Currency Futures||NA||Currency Options||NA|
It is a young company which was set up by 2 entrepreneurs who together had an experience of more than 60 years in broking and investment. They offer services in Equity Intraday, Equity Delivery, Stock Futures, Currency Futures, Stock Options, Currency Options, Debt instruments and various other investment services.
Why choose Tradejini?
· They offer one single integrated online platform for derivatives, equities, Forex and Commodities.
· They offer real-time intraday charts
· They offer technical analysis tools as well
· They offer custom alerts
· They offer ease of execution
|Brokerage Plan||Rs. 20 per executed order or 0.01% of Turnover whichever is lower||Flat Fee||NA|
|Equity Delivery||Rs. 20 per executed order or 0.01% of Turnover whichever is lower||Equity Intraday||Rs. 20 per executed order or 0.01% of Turnover whichever is lower|
|Equity Futures||Rs. 20 per executed order or 0.01% of Turnover whichever is lower||Equity Options||Rs. 20 per executed order|
|Currency Futures||Rs. 20 per executed order or 0.01% of Turnover whichever is lower||Currency Options||Rs. 20 per executed order|
|Commodity||Rs. 20 per executed order or 0.01% of Turnover whichever is lower|
Upstox also offers efficient discount stock brokers and thus it is amongst the Top 10 Cheapest stock brokers in India. They offer fast, trustworthy and easy trading platform. You get more leverage and up to 20 times margin on intraday.
Why choose Upstox?
· They offer an absolutely hassle-free way of opening a stock trading account online
· They offer custom watch lists to the investors
· They offer a Pro mobile platform which is light in weight and thus consumes less space
· You may access strong trading platforms
|Brokerage Plan||Zero brokerage||Flat Fee||NA|
|Equity Delivery||Zero brokerage||Equity Intraday||Rs. 20 per executed order or 0.01% (whichever is lower)|
|Equity Futures||Rs. 20 per executed order or 0.01% (whichever is lower)||Equity Options||Flat Rs. 20 per executed order|
|Currency Futures||Rs. 20 per executed order or 0.01% (whichever is lower).||Currency Options||Rs. 20 per executed order or 0.01% (whichever is lower)|
|Commodity||Rs. 20 per executed order or 0.01% (whichever is lower)|
Wisdom Capital, the leader in online stock trading and the very first mover in the segment of discount brokerage was introduced in the year 2013. It introduced the lifelong zero brokerage freedom plan in Futures and Options, Equities at NSE and BSE and commodities at NCDEX and MCX.
What makes Wisdom Capital is best ?
1. NSDL Star performer award
They have won this very prestigious award consecutively in 2010, 2013, 2014 and 2015. They have proven that they are the best discount stock brokers of the country.
2. 15000 plus satisfied customers
Customisation is something that helps them in delivering 100% customer satisfaction.
3. 5 times delivery margin
They offer up to 5 times margin on carry forward and margin trades in the NSE equity. In case of Future and Options you may carry on the span margin.
According to the latest wisdom capital review, they have recently introduced some exceptional plans for the traders and investors. They have been the best brokerage company which offers Zero brokerage and different flexible plans for investors and the trader’s communities. These especially designed plans help in catering to the online stock trading needs of the customers which is also their core competence. For encouraging investments in the country, they offer free of cost life time plans to the traders.
Keeping the financial goals of the customers in mind, they have designed a plan which is based on the exclusive needs of the investors.
Apart from offering plausible information about the stock market and the rationale behind share market and commodity market movement, all these charges include helping the investors with the help of the specialised strategies through the latest platform, best terminal, free of cost Demat, mobile app, portfolio management services and SEBI authorised advisory services. The plans they design are unparalleled in the stock broking industry and much ahead of all the other low, per trade and monthly fixed brokerage fee offered by the other regular stock brokers in the India shares and commodities markets.
Why should you trade with them?
When they introduced the flexible brokerage plans, they were unmatched in the brokerage charges competitiveness and excellence of services, which was way ahead of fixed brokerage charges. According to Wisdom capital review these very attractive brokerage plans still offer the lowest brokerage fee in this segment i.e. per trade brokerage charges or monthly brokerage fee are less as compared to the rates which are charged by the other stock brokers. This is what makes them stand apart from the rest in this segment helping them become the best online stock trading firm in the country.
1. Free of cost stock trading and Demat account
It is the only broking firm which offers free of cost activation of trade and Demat account across different segments.
2. Lowest stock brokerage
a. Freedom plan- introducer of the lifetime zero brokerage online stock trading and investment @ Rs. 1180/- across NSE/BSE/MCX/NVDEX.
b. Professional plan- flat brokerage plan at Rs.9 per trade
3. Single trade terminal and available of max trade software
ODIN/NEST across all segments i.e. F&O, NSE Equities, MC/SX currency, MCX and NCDEX free of cost. However, you get the option of choosing from a wide range of trade terminal i.e. Now/NEST/ NET.NET/ODIN.
4. Unlimited leverage across all exchanges
Unlimited leverage is offered to active as well as professional traders i.e. trade 1 lot Nifty at Rs. 3200 only.
5. SEBI authorised portfolio management service
6. Uninterrupted call and trading facility
7. Fully dedicated and excellent online LIVE support
8. Free of cost wisdom LIVE trade system for active traders
9. Free of cost LIVE Trade tips on the basis of technical analysis on the terminal during the stock market hours
10. Brokerage calculator for helping the investors calculate the costs upfront
11. 12000+ satisfied customers
12. A network of 1000+ franchisee throughout the country
As per the Wisdom capital review the mission of the brand is to provide high quality investment services to its customers on the basis of meticulously researched strategies of investment for adding good value to the money of the investors. The mission of the brand is to maintain good relationship with the clients in the long run by providing competitive terms of business, latest technology on the basis of infrastructure and properly researched info for improving the decision making capacity of the investors.
For accomplishing great heights in wealth management, stock broking and investment services they use latest technology and in depth education. They are setting new benchmarks through customer centric, and technology driven professional enterprise.
Lowest brokerage fee for online trading in the country
In case you are in search of the top online trade account at low brokerage fee than this one is the best source for you. When you will check the Wisdom capital review you will come to know about all this. It is one of the best brokers of the country which offers best online and offline trade plans in futures, options, stocks, currency on BSE, NSE and commodity trading on NCDEX and MCX. It offers the zero brokerage freedom plans which help the traders with an unlimited trading access to online trading platform without any minimum fees. The whole idea is to motivate the investors to opt for the free of cost investment zone.
Other plans meant for the seasoned traders are:
1. Lifetime freedom plan– this plan helps the traders to trade for free for lifetime of NSE/BSE stocks, futures and options, commodity online account at NCDEX/MCX across different segments. You don’t have to pay any advance payment or any monthly and yearly fee. They also offer free of cost trading and Demat account.
2. Pro plans and add on– the pro plan has been designed perfectly for the professional traders who use high intraday exposure or margin as well as advance tools for trading.
3. Add on plus and ultimate plans– the ultimate plan has been designed for satiating the needs of the investors and traders who are in search of high intraday exposure or margin in intraday an delivery trading.
|Account Opening Charges||Free|
|Brokerage charges||Lifetime Free|
|Brokerage intraday cash||0.00%|
|Brokerage Delivery cash||ZERO|
|Brokerage intraday FNO||0.00%|
|Brokerage Carry FNO||ZERO|
|Brokerage Intraday MCX||0.00%|
|Brokerage Carry Mcx||ZERO|
|Brokerage Intraday CDS||0.00%|
|Brokerage Carry CDS||ZERO|
7. My Value Trade
Since inception, they have been offering top trading facilities to their clients. They offer high quality services at lowest brokerage rates.
Why choose My Value Trade
· They offer simplified trading options to the investors
· You can choose a good trading plan according to your style of trading
· They offer one single trading platform which has been designed for supporting the investors
· They have a dedicated helpdesk to assist the investors
· They offer facility for transferring funds with approximately 45 banks
|Brokerage Plan||Rs. 10 per executed order||Flat Fee||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||Rs. 10 per executed order|
8. Trade Plus
The company runs on the principles of technology and transparency. They offer the option of online trading with lowest brokerage rates. They offer a wide range of services ranging from Equity trading service, NRI trading service, Currency trading, Commodities trading service, direct mutual fund investment, derivative trading, etc.
Why choose Trade Plus
· They offer low and refundable brokerage
· They offer powerful trading platform and tools
· They offer high trading margins which include margins on the DP stocks
· They have a wonderful referral programme
· You can open an account instantly
|Brokerage Plan||Infinite Trading plan||Flat Fee||99 (Options, Currencies, MCX), Rs 799 (FUTURES)|
|Equity Delivery||0.1% or 10 paisa||Equity Intraday||0.01% or 1 paisa|
|Equity Futures||Flat Fee Rs 799 PM||Equity Options||Flat Fee Rs 99 PM|
|Currency Futures||Flat Fee Rs 99 PM||Currency Options||Flat Fee Rs 99 PM|
|Commodity||Flat Fee Rs 99 PM|
9. R K Global
Introduced in the year 1995, RK Global has diversified itself in the domain of Derivatives, Equity, Currency, Commodities, IPO Distribution, Depository, Distribution of Mutual Fund, Consultancy, etc.
Why choose RK Global
· They offer smart and sophisticated trading options
· They offer expert advice
· They offer 24*7 customer support to their clients
· They offer full research on out and under performers
|Brokerage Plan||Flat Fee||NA|
|Equity Delivery||0.1% (on Buy and Sell)||Equity Intraday||0.025% (on Sell trade)|
|Equity Futures||0.01% (on Sell trade)||Equity Options||0.05% (on Sell trade premium) or 0.125% (on excersied options)|
|Currency Futures||NA||Currency Options||NA|
|Commodity||0.01% on sell side (Non-Agri)|
10. Astha Trade
They have a talented team of professionals who bring in innovative ideas for building a healthy environment to the traders and investors. With an extensive approach, they are taking the industry by storm.
Why choose Astha Trade
· Customer satisfaction is their top priority
· They offer a well-planned pricing model
· You may enjoy credible intraday margins
· You can trade at Rs. 20 per equity, Futures & Options, Commodities
· You can open an online trading account without any paperwork
They offer fast and reliable customer support
|Brokerage Plan||Rs. 20 per Equity, F&O, Commodities||Flat Fee||NA|
|Equity Delivery||0.20%||Equity Intraday||0.01%|
|Equity Futures||0.01%||Equity Options||INR 10/Lot for Buy & INR 30/Lot for Sell|
|Currency Futures||NA||Currency Options||NA|