Lowest brokerage in India 2026

In India for 2026, the “lowest brokerage” depends on *what you trade*: - **Long-term investing (delivery stocks / ETFs)** → many brokers offer **₹0 brokerage** - **Intraday & F&O trading** → lowest serious brokers are around **₹1–₹5/order** - **Balanced + reliable platforms** → usually **₹10–₹20/order** Here are the main low-cost brokers people are comparing in 2026: | Broker | Delivery | Intraday / F&O | AMC | Best For | |---|---|---|---|---| | Shoonya by Finvasia | ₹0 | ₹0–₹5 | ₹0 | Absolute lowest cost traders | | m.Stock | ₹0 | ₹5/order | Lifetime plan available | Heavy traders | | Punch Trade | ₹1/order | ₹1/order | ₹0 | Ultra-low brokerage | | Paytm Money | ₹0 | ₹10/order | ₹0 | Budget + easy UI | | 5paisa | ₹0 | ₹10/order | Low/₹0 plans | Active traders | | Zerodha | ₹0 | ₹20/order | ₹300/year | Best overall ecosystem | | Groww | ₹0 | ₹20/order | ₹0 | Beginners | | Dhan | ₹0 | ₹20/order | ₹0 | Advanced traders/API | | Upstox | ₹0 | ₹20/order | Low | Good balance | | Angel One | ₹0 | ₹20/order | Low | Research + trading combo | Data compiled from 2026 brokerage comparisons and industry reports. ### My practical recommendation by use-case - **Cheapest possible** → Shoonya by Finvasia or Punch Trade - **Best overall for most Indians** → Zerodha - **Best beginner app** → Groww - **Best for F&O / algo / APIs** → Dhan - **Lowest serious flat-fee broker** → m.Stock ### Important hidden charges people ignore Even “zero brokerage” brokers still charge: - STT - Exchange transaction charges - GST - Stamp duty - DP charges when selling delivery shares These can matter more than brokerage for active traders. ### One more thing in 2026 Some brokers have started tweaking F&O pricing because of lower market volumes and regulation changes. For example, some Zerodha derivative users may see higher fees under certain conditions. If you want, I can also give: - **Best broker for beginners** - **Best broker for intraday** - **Best broker for options selling** - **Cheapest broker with TradingView** - **Broker comparison table (Zerodha vs Groww vs Dhan vs Shoonya)**

The stockbroking landscape in India has evolved into highly competitive, cost-effective models. If you are looking for the absolute lowest brokerage options, the market is broadly split between **True Zero-Brokerage Platforms** (which charge absolutely nothing for trades) and **Flat-Fee Discount Brokers** (which charge a minimal flat fee, typically capped at ₹20 per order). The top contenders for the lowest brokerage fees in India are broken down below. --- ## 1. True Zero-Brokerage & Sub-₹20 Brokers These platforms have disrupted the traditional flat-fee model by completely eliminating brokerage fees across multiple segments, or cutting the standard industry rate in half. * **Flattrade:** Currently one of the absolute cheapest options in the market. It offers **₹0 brokerage** across all segments—Equity Delivery, Intraday, F&O, Commodities, and Currencies—with no hidden lifetime trading fees. * **m.Stock (by Mirae Asset):** Offers a 100% lifetime zero-brokerage account across all segments (including F&O and Intraday) for a one-time upfront account opening fee (usually around ₹999). Alternatively, their standard plan cuts the market rate in half, charging a flat **₹10 per order**. * **Shoonya (by Finvasia):** Another zero-clearing, zero-brokerage platform that charges **₹0** for equity, F&O, and commodities, relying instead on proprietary technology and corporate clients to sustain costs. --- ## 2. The Popular Discount Brokers (Flat ₹20/Order) If you prefer major mainstream platforms with high active client bases and robust tech ecosystems, the standard rate across the industry is capped at **₹20 per executed order**. | Broker | Equity Delivery | Equity Intraday | Futures & Options (F&O) | Notable Catch / Benefit | |:--- |:--- |:--- |:--- |:--- | | **Groww** | Free (or 0.05%) | Lower of ₹20 or 0.1% | Flat ₹20 per order | India's largest broker by active users; highly beginner-friendly. | | **Zerodha** | **₹0 (Free)** | Lower of ₹20 or 0.03% | Flat ₹20 per order | Pioneer of the model; exceptionally stable platform (Kite) and no spam. | | **Angel One** | Free (first 30 days) then ₹20 or 0.1% | Lower of ₹20 or 0.1% | Flat ₹20 per order | Great for API/algo trading and offers integrated research advisory. | | **Upstox** | Up to ₹20 or 2.5% | Lower of ₹20 or 0.05% | Flat ₹20 per order | Fast charting engines, highly preferred by advanced intraday traders. | | **Dhan** | **₹0 (Free)** | Lower of ₹20 or 0.03% | Flat ₹20 per order (₹10 for women) | Offers special 50% brokerage discounts for women traders across all segments. | --- ## 💡 Important: "Zero Brokerage" Does Not Mean "Zero Cost" Even if a broker charges ₹0 in brokerage, you are legally required to pay statutory and government-mandated taxes on every transaction. These non-brokerage charges remain identical across all platforms: * **STT (Securities Transaction Tax):** The largest bulk component of your trading tax, charged heavily on equity delivery (0.1%) and options selling. * **Exchange Transaction Charges:** Charged by the NSE/BSE. * **DP (Depository Participant) Charges:** Charged by CDSL/NSDL when you **sell** shares from your Demat account (typically ₹13 to ₹20 per ISIN/company per day). * **SEBI Turnover Fees & GST (18% on brokerage + transaction charges).** > **Recommendation:** If you are a long-term investor who only buys and holds, giants like **Zerodha** or **Groww** offer a perfect mix of stability and free/low delivery charges. If you are a high-volume intraday or F&O trader looking to save lakhs in execution fees, utility brokers like **Flattrade** or **m.Stock** will save you the most money. Are you primarily planning to do long-term investing, or are you looking to do frequent intraday and F&O trading?

The lowest brokerage in India is offered by **true zero-brokerage platforms like Shoonya by Finvasia and m.Stock**, which charge ₹0 across all major trading segments. Alternatively, leading discount brokers like and offer completely free equity delivery trades alongside a highly competitive flat fee of ₹20 per trade for intraday and F&O. Overview of India's Lowest Brokerage Platforms | Broker Category | Key Platforms | Equity Delivery Fee | Intraday & F&O Fee | Annual Maintenance (AMC) | |---|---|---|---|---| | **True Zero-Brokerage** | **Shoonya by Finvasia** | ₹0 | ₹0 | ₹0 (Lifetime Free) | | **True Zero-Brokerage** | **m.Stock** | ₹0 | ₹0 (With flat upfront fee) | ₹0 (With premium layout) | | **Flat-Fee Market Leaders** | **Groww** | ₹0 | ₹20 or 0.05% *(lower)* | ₹0 | | **Flat-Fee Market Leaders** | **Zerodha** | ₹0 | ₹20 or 0.03% *(lower)* | ₹300 per year | | **Flat-Fee Market Leaders** | **Angel One** | ₹0 | ₹20 or 0.25% *(lower)* | ₹240 per year | Top Low-Brokerage Platform Deep Dives - **Shoonya by Finvasia**: The absolute lowest-cost broker for active traders. - Charges a strict ₹0 brokerage policy on equity, intraday, futures, options, and mutual funds. - Requires no hidden subscription models or monthly flat-fees to unlock the trading account. - **m.Stock (by Mirae Asset)**: Excellent option for a high-volume trader looking for financial backing. - Offers a premium, one-time paid layout that removes all trading fees across delivery, intraday, and F&O permanently. - Charges a competitive flat rate of ₹10 per transaction for its base non-premium accounts. - **Groww**: Best low-cost app setup suited primarily for retail investors. - Combines a completely free investment model for long-term equity delivery with a flat cap of ₹20 per trade for intraday orders. - Charges absolute zero recurring fees for Account Opening and annual management (AMC). - **Zerodha**: The pioneer discount platform optimized for serious and technical traders. - Levies ₹0 for equity delivery transactions while setting standard industry benchmarks with its flat ₹20 or 0.03% intraday cap. - Features advanced platforms (Kite) and behavioral tools like "Kill Switch" to keep user risks under control. Key Non-Brokerage Costs to Track Even with an absolute zero-brokerage account, you will still encounter mandatory statutory and administrative fees governed by SEBI market regulations: 1. **STT (Securities Transaction Tax)**: Levied at 0.1% on both buying and selling delivery trades. 2. **DP (Depository Participant) Charges**: Flat administrative fees charged per company on days when you sell stock from your holding balance (typically ranging from ₹13.5 to ₹20 + GST). 3. **GST**: Calculated at standard 18% applied over any accrued exchange transaction fees or actual brokerage fees. If you would like to pinpoint the best option, tell me: - Do you primarily focus on **long-term delivery holding** or **fast-paced intraday/F&O trading**? - Do you need an app that provides **in-depth technical charts**, or do you prefer a **simple, minimalist interface**? - Are you comfortable paying a **one-time upfront subscription fee** to eliminate trading fees forever?