Lowest brokerage in India 2026

In India for 2026, the “lowest brokerage” depends on whether you are: - Long-term investor (delivery trades) - Intraday trader - F&O trader - High-volume trader Right now, these brokers are among the cheapest overall: | Broker | Delivery Brokerage | Intraday/F&O | AMC | Best For | |---|---|---|---|---| | Shoonya | ₹0 | ₹5 or zero in some segments | ₹0 | Lowest overall cost | | m.Stock | ₹0 | ₹5/order | Lifetime plan available | Heavy traders | | 5paisa | ₹0 | ₹10/order | Low | Budget traders | | Paytm Money | ₹0 | ₹10/order | ₹0 | Beginners | | Zerodha | ₹0 | ₹20/order | ₹300/year | Best platform + reliability | | Groww | ₹0 | ₹20/order | ₹0 | Beginners/investors | | Dhan | ₹0 | ₹20/order | ₹0 | Active traders & APIs | Data compiled from recent 2026 brokerage comparisons and fee sheets. ### Best choices by use case - **Absolute lowest brokerage:** Shoonya and m.Stock - **Best balance of low cost + reliability:** Zerodha - **Best for beginners:** Groww or Paytm Money - **Best for algo/F&O traders:** Dhan or m.Stock ### Important hidden charges people miss Even “zero brokerage” brokers still charge: - STT - Exchange transaction charges - GST - Stamp duty - DP charges when selling delivery shares Many traders on Reddit noted DP charges can matter more than brokerage for investors. ### One important 2026 update Some brokers have started revising F&O pricing due to lower derivatives volumes and regulatory changes. For example, Zerodha briefly raised certain F&O fees in 2026 before limiting the impact to a small set of users. If you want, I can also give: - Best broker for **intraday** - Best for **F&O** - Best for **long-term investing** - Lowest hidden charges comparison - Safest broker among low-cost brokers - A full side-by-side comparison of Zerodha vs Groww vs Dhan vs Shoonya for 2026.

The Indian stockbroking space in 2026 is highly competitive, with a clear distinction between **100% Zero-Brokerage** platforms and the classic **Flat-Fee Discount Brokers**. The platforms offering the lowest brokerage structures in India are organized below by their pricing models: ## 1. Absolute "Zero Brokerage" Pioneers These brokers have eliminated the traditional $\text{Rs. } 20$ per-order fee across the board, making them popular choices for high-frequency intraday and F&O traders looking to cut transaction costs entirely. * **Flattrade:** Offers **₹0 brokerage** across all segments including Equity Delivery, Intraday, Futures, Options, Commodities, and Currency. There are no subscription fees or hidden per-trade charges. * **m.Stock (by Mirae Asset):** Offers a "Zero Brokerage for Life" plan across all segments (including F&O and Intraday) for a one-time account opening fee. (Alternatively, they offer a flat account with a lower $\text{Rs. } 10$ per trade model). --- ## 2. Flat-Fee & Subscription Discount Brokers These platforms offer highly competitive alternative flat rates or monthly unlimited trading models. * **ProStocks:** Charges a flat **₹15 per trade** for Intraday and F&O (lower than the standard market rate of ₹20). They also provide unlimited monthly trading plans starting at ₹899/month for Equity. * **5Paisa:** Offers a base rate of ₹20 per trade, but features **subscription-based add-on packs** (like the Ultra Trader pack) that significantly slash per-order fees for high-volume users. --- ## 3. The Market Leaders (Free Delivery / ₹20 Flat Per Trade) The largest brokers in India by active client volume operate on a hybrid discount model: **₹0 for Equity Delivery** and a maximum cap of **₹20 per executed order** for Intraday and F&O. | Broker | Equity Delivery | Intraday Equity | F&O (Futures & Options) | Key Strength | |:--- |:--- |:--- |:--- |:--- | | **Groww** | ₹0 | 0.1% or ₹20 *(whichever is lower)* | Flat ₹20 per trade | Largest user base, highly intuitive UI for beginners. | | **Zerodha** | ₹0 | 0.03% or ₹20 *(whichever is lower)* | Flat ₹20 per trade | Industry pioneer, highly stable "Kite" platform, excellent charting tools. | | **Angel One** | ₹0 | 0.1% or ₹20 *(whichever is lower)* | Flat ₹20 per trade | Blends discount pricing with full-service features like AI-driven robo-advisory. | | **Upstox** | ₹0 | 0.05% or ₹20 *(whichever is lower)* | Flat ₹20 per trade | Strong API trading capabilities for tech-savvy traders. | --- ### ⚠️ Important Note on "All-In" Costs When looking for the lowest brokerage, remember that "Zero Brokerage" does not mean completely free trading. Even if your broker charges ₹0, you will always have to pay statutory and regulatory fees mandated by SEBI and the Government of India, including: * **STT / CTT** (Securities/Commodities Transaction Tax) * **Exchange Transaction Charges** * **SEBI Turnover Fees** * **Stamp Duty & GST (18% on brokerage + exchange charges)** * **DP (Depository Participant) Charges:** Usually a flat fee (around ₹13.50 to ₹20 + GST) levied only when you *sell* shares from your Demat account (Delivery). Are you primarily looking to do long-term investing (Delivery), or are you focusing heavily on high-frequency trading like Intraday and Options?

The absolute lowest brokerage options in India for 2026 are offered by **"True Zero-Brokerage" platforms** like and **Shoonya by Finvasia**, which charge **₹0 across all segments**, including Intraday and F&O. Alternatively, sub-flat-fee brokers like charge a heavily discounted **flat ₹10 per trade** after a one-time onboarding fee. For mainstream retail market share, industry giants like Groww,, and Upstox dominate with **₹0 Equity Delivery** and a **flat cap of ₹20 per trade** on Intraday and F&O. 1. Direct Comparison of Lowest Brokerage Models Stockbrokers in India broadly fit into three low-cost categories. Government statutory charges (STT, GST, Exchange Fees) apply across all models. | Broker | Equity Delivery Fee | Intraday Fee | F&O Fee (Options/Futures) | Annual Maintenance (AMC) | |---|---|---|---|---| | **Flattrade** | **₹0** | **₹0** | **₹0** | **₹0 (Lifetime)** | | **Shoonya** | **₹0** | **₹0** | **₹0** | **₹0 (Lifetime)** | | **m.Stock** | **₹0** | **₹10** (or ₹0 via paid plan) | **₹10** (or ₹0 via paid plan) | ₹120/year (or ₹0 via paid plan) | | **** | **₹0** | **₹15** (or ₹499/mo unlimited) | **₹15** (or ₹499/mo unlimited) | **₹0 (Lifetime)** | | **Groww** | **₹0** | Lower of ₹20 or 0.05% | Flat ₹20 per trade | **₹0 (Lifetime)** | | **Zerodha** | **₹0** | Lower of ₹20 or 0.03% | Flat ₹20 per trade | ₹300 per year | | **Upstox** | **₹0** | Lower of ₹20 or 0.05% | Flat ₹20 per trade | ₹150 to ₹300 per year | | **Angel One** | **₹0** | Lower of ₹20 or 0.03% | Flat ₹20 per trade | ₹240 per year (Free 1st Year) | 2. Deep Dive: Operational Breakdown of Top Budget Brokers 100% Zero-Brokerage Ecosystems - **Flattrade**: Operates a strictly commercial-free engine across all segments (Delivery, Intraday, Options, Futures, Commodities) with zero account maintenance charges. It is highly optimal for retail options traders executing high volume daily orders. - **Shoonya (by Finvasia)**: A long-standing institutional choice using a zero-clearing-fee ecosystem. They monetize secondary premium features (like advanced API integrations) while keeping base trading entirely free. The Sub-Flat Fee and Subscription Models - **m.Stock by Mirae Asset**: Offers a baseline default charge of ₹10 per trade. Alternatively, traders can pay a one-time up-front structural integration account fee (~₹999) to unlock lifetime ₹0 brokerage across all segments. - **ProStocks**: Provides a competitive structure at ₹15 per trade or flat **₹499/month unlimited trading plans** for heavy derivatives traders. The Premium Discount Giants (Flat ₹20/Trade) - **Groww**: India’s largest broker by active client base. It features completely free delivery, direct mutual funds, and **lifetime zero AMC**, making it highly popular for passive investors. - **Zerodha**: The pioneer discount broker with the most stable platform architecture (Kite). Charges a flat ₹20 fee for Intraday/F&O but protects investors via non-gamified risk management infrastructure like the *Kill Switch* tool. 3. Critical "Hidden" Costs to Remember Even with a ₹0 brokerage platform, SEBI guidelines dictate statutory, non-negotiable costs that appear on your contract note: - **Securities Transaction Tax (STT)**: 0.1% on equity delivery (both buy & sell sides) and 0.0214% on options sell value. - **DP (Depository Participant) Charges**: Charged only when you sell shares from your holdings. This ranges from **₹13.5 to ₹20 + GST per stock company per day**, regardless of your broker's zero-brokerage policy. - **GST**: 18% applied on the total sum of cumulative brokerage + exchange transaction charges. To help find the right choice, what is your **primary trading style** (e.g., long-term delivery investing, active daily intraday trading, or high-volume F&O options)?