The concept of stock broking is nothing new and people have been investing in stock for years. The reason is quite simple – better returns than conventional investment tools like PPF, LIC, FDs, and others. However, brokerage always forms a crucial part of stock broking. Even today, traders and investors looking for a competent stockbroker look at the brokerage and specifically the lowest brokerage charges in India. This is because the lower the brokerage charges, the more the profit.
Table of Contents
In this post, we will explain what are the lowest brokerage charges in India and the top stockbrokers with the lowest brokerage charges in India. The majority of stockbrokers provide investors with flat-rate or zero-brokerage stock trading services. This has increased competition significantly in the stockbroking sector. There are several possibilities available if you’re seeking a stockbroker that charges the lowest brokerage fees. Let’s first learn about the two different categories of stockbrokers: full-service stockbrokers and cheap brokers.
Full-service stockbrokers provide more than simply the ability to buy and sell stocks; they also provide portfolio management, financial planning, stock research, and other services. Brokerage is the term used to describe the fee for these services.
On the other hand, discount brokers assist traders and investors in executing buy and sell orders with little to no fees. Simply put, their main goal is to offer their consumers the most fundamental stock trading services. The majority of inexperienced investors choose to work with low-cost brokers since they only charge a basic or minimal brokerage fee, regardless of the amount of the order or the number of transactions.
What does Lower Brokerage mean?
This amount refers to the lowest possible amount charged by a stockbroker against the offered services. As each stockbroker has a different minimum brokerage amount established, the lowest brokerage fees frequently apply when the computed brokerage amount is smaller than the minimum brokerage amount.
No stock broker may impose a brokerage fee greater than 2.5% of the total order amount, according to SEBI. Remember that SEBI has not established any minimum brokerage guidelines and has left it up to each stockbroker to determine his own standards for determining a minimum brokerage amount.
The choices you may evaluate if you’re seeking the lowest brokerage charges for online trading in India in 2023 are listed below.
M.Stock
A leading provider of financial services globally, Mirae Asset, has introduced the investment platform “m.Stock.” The new trading product combines a zero-brokerage and no-commission business model with access to several trading and investing products under one roof. The stockbroker offers the lowest brokerage charges in India.
It levies zero brokerage for intraday, delivery, and F&O trade orders.
| Category | 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 |
Kotak Securities
Being a part of one of India’s most renowned banking conglomerates, Kotak Mahindra Bank, Kotak Securities provides simple and rapid investing alternatives in mutual funds, commodities, and stocks. Insurance, market research, depository services, and portfolio management services are just a few of the numerous services the full-service stockbroker provides (PMS).
Kotak Securities offers the lowest brokerage charges in India, charging only Rs. 20 per order for trading in futures and options and 0% charge for intraday trading.
Kotak Securities provides the Trade Free Plan, Trade Free Max Plan, and No Brokerage Plan. All three programs offer completely free intraday trading. For the delivery of stocks, a brokerage fee of 0.25%, or Rs. 20, is payable (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 |
Zerodha
While ranking the best discount brokers in India with the lowest brokerage fees, Zerodha comes out on top. In reality, Zerodha is one of the brokers that brought the flat-fee Rs. 20 brokerage model to India, helping to popularize the idea of discount booking. The stockbroker is renowned for its quick and user-friendly Kite trading platform, which can be accessed from both web browsers and mobile phones, in addition to having the lowest brokerage charges in India.
One of the most cost-effective brokers is Zerodha, which charges a brokerage fee of Rs. 20 per order (or 0.03%) for trading intraday equities, equity derivatives, commodities, and currencies. The delivery of stocks is free of brokerage fees.
| Trading Categories | 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) |
Edelweiss
Formerly known as Edelweiss Broking Ltd, Mumbai-based Nuvama Wealth & Investment Ltd. was established in 2008 and offers full-service stockbroking. All main asset types, including equities, debt, mutual funds, initial public offers (IPOs), currency derivatives, commodities, futures, and options, can be traded and invested in through the stockbroker.
For all categories included in the Nuvama Lite Plan, the standard brokerage fee is Rs. 10 per performed transaction. Those who want to trade independently without requiring the broker’s full assistance should definitely consider this technique. Relationship manager services are not included in this plan, and value-added services are also invoiced separately based on usage.
| Trading Category | Brokerage |
|---|---|
| Monthly Charges (Flat) | 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 | |
| Commodity Options |
Angel One
One of the most respected and affordable stock brokers in India is called Angel One, and it first started doing business in 1987. The stockbroker’s most impressive feature is its extremely high-tech, feature-rich trading platform.
The brokerage charges for Angel Broking were revised in April 2019. Full-service stock brokers used to charge the lowest brokerage charges in India on a predetermined portion of all traded values. Nonetheless, due to the intense competition that discount brokers faced, Angel Broking switched to a flat charge brokerage model.
| Trading Category | Brokerage |
|---|---|
| Monthly Fee (Fixed) | |
| 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 |
5Paisa
Mumbai-based One of the most affordable brokers in India, 5 Paisa has had exceptional development. While it was only established a short time ago, it quickly rose to prominence in the stock brokerage sector after signing up 1 million clients in just 4.5 years. To facilitate transactions between the BSE and NSE, 5Paisa’s primary goal is to offer investors and traders cutting-edge online trading platforms.
Through 5Paisa, a brokerage fee of Rs. 10 is charged for each order. For each of the three brokerage systems eventually put into practice, a transaction costs Rs. 20, and an order costs Rs. 10. They must pay for package delivery.
| 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 |
Upstox
RKSC Securities, a reputable discount broker in India, was originally known as Upstox. The cheap broker has gone a long way since they originally started in 2009 by giving traders and investors the best of everything, including a cutting-edge trading platform, affordable brokerage, solid customer service, and others. Upstox takes part in the BSE, NSE, MCX, and MCX-SX exchanges. It is renowned for having the lowest brokerage charges in India.
For stock delivery, Upstox charges Rs 20 (or 0.1% of each transaction) in brokerage costs (whichever is lower). The cost for intraday equity trading is set at Rs. 20 per successfully executed order or 0.05%. (whichever is lower).
| Trading 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 |
Motilal Oswal
Motilal Oswal Securities Ltd. (MOSL), a well-known provider of diverse financial services with headquarters in Mumbai, was established in 1987. The stockbroker enables investors and traders to deal in derivatives, currencies, commodities, and stocks. It also offers a wide range of additional products, including insurance, gold, mutual funds, IPOs, and term deposits.
Motilal Oswal charges brokerage of Rs 20 per lot for stocks and currency options, 0.02% for intraday stock trading and equity futures, and 0.20% for stock delivery. Futures and options on commodities have a 0.02% commission fee that costs Rs 20 per lot. For those looking for brokers in India with the lowest brokerage charges, it is a popular choice.
| Category | 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 |
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. The brokerage offers a wide range of services, including institutional equity, retail equities, derivatives, broking, depository services, and third-party distribution products. The stockbroker also offers online trading services to clients and traders at the lowest brokerage charges in India.
SBI Smart serves as the company’s main trading platform. The website enables both resident Indians and non-resident Indians to make online investments in stocks, derivatives, mutual funds, ETFs, initial public offerings (IPOs), and NCDs (NRIs). Moreover, it offers loans for items like mortgages, auto loans, and loans backed by securities (LAS).
| Segment | Brokerage Charges |
|---|---|
| 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 |
Sharekhan
One of the first full-service stockbrokers in India is known as Sharekhan. The Mumbai-based trading platform Sharekhan provides services for the equities cash and derivatives markets of the BSE, NSE, MCX, and NCDEX. Also, it makes the trading of goods easier. In addition, Sharekhan provides investments in mutual funds, IPOs, and depository services. A great service is the Sharekhan cheaper brokerage option trading.
Traditional and Prepaid Conventional Brokerage Plans are Sharekhan’s two brokerage programs (Postpaid)
Sharekhan charges 0.5% for share delivery and 0.10% for stock intraday under its standard regular brokerage plan. This approach should be used by novice and occasional investors.
| 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
Keep a careful eye on the stockbrokers in India with the lowest costs because brokerage is a significant part of stock trading. The information above is intended to help you find and compare the top stockbrokers with the lowest brokerage costs. Whether you are a beginner or an experienced trader, the information offered will help you choose the best stockbroker with the lowest brokerage charges in India. In India, it is often advisable to examine brokerage costs before choosing a stockbroker.
Choosing the finest stock broker may be challenging given the enormous number of stockbrokers in India that provide the cheapest trading costs. Because brokerage makes up a sizable portion of stock trading, keep a close check on the best stockbrokers in India with the lowest fees. You may use the information above to compare and select the best stockbrokers with the most affordable brokerage fees. Regardless of your level of trading experience, the information provided will enable you to select the finest stockbroker in India with reasonable brokerage fees. Examining brokerage prices in India is frequently advised prior to selecting a stockbroker.
With the vast number of businesses in India that provide the lowest broking charges, selecting the best stock broker may be difficult.
FAQs – Lowest Brokerage charges in India
What are the Lowest Brokerage Charges in India?
Brokerage is essentially a charge made by a stockbroker for the trading services being provided. It is a type of amount that the stockbroker levies in exchange for providing its services. Full-service brokers provide a wide range of services, thus their lowest brokerage charges are often greater than those of discount stockbrokers. Also, it was discovered that brokerage on futures and options is a little higher than equities trading.
How are Brokerage charges calculated?
Brokerage charges are typically charged when purchasing and selling shares. The agreed-upon percentage rate is used to determine the lowest brokerage fees for Demat accounts based on the total cost of shares purchased or sold.
How does the Brokerage Amount work?
The amount owed to the broker to maintain and handle an investor’s investments and securities is simply known as the brokerage fee. This could occasionally involve an annual charge that you pay at the start or end of the year. In other cases, if you don’t trade at least semi-regularly, you could be charged inactivity brokerage charges.
Are the Lowest Brokerage charges Applicate to all Order Types?
Yes, these charges remain applicable to all kinds of orders.
What is the maximum amount a Brokerage can charge as Brokerage?
The maximum amount of brokerage that a broker may charge is governed by India’s SEBI. According to these rules, a broker is not permitted to impose brokerage fees for intraday transactions or equities delivery deals that are greater than 0.25% or 2.5% of the entire trade value.
