Lowest brokerage in India 2026

If your priority is the **lowest total trading cost** in India in 2026, then these brokers are currently the most competitive: | Broker | Equity Delivery | Intraday / F&O | AMC | Best For | |---|---|---|---|---| | Shoonya by Finvasia | ₹0 | ₹5/order | ₹0 | Lowest pure brokerage | | m.Stock | ₹0 | ₹0 or low-cost plans | Low / one-time plans | High-volume traders | | Dhan | ₹0 | ₹20/order | ₹0 | Active traders & algo users | | Zerodha | ₹0 | ₹20/order | ~₹300/year | Reliability + ecosystem | | Groww | ₹0–₹20 | ₹20/order | ₹0 | Beginners | | Upstox | ₹0 | ₹20/order | Low | Fast execution | | 5paisa | Low | ₹10/order | Low | Budget traders | Data compiled from multiple 2026 brokerage comparisons and community reviews. ### Best choices by use case - **Absolute lowest brokerage:** Shoonya by Finvasia — almost zero-cost structure with ₹5 trades. Popular among cost-sensitive traders. - **Best overall low-cost broker:** Zerodha — not the cheapest, but widely considered the best mix of low charges, stability, charts, reporting, and trust. - **Best for beginners:** Groww — simple UI and zero AMC. - **Best for serious traders / APIs:** Dhan — strong features for options and algo trading. ### Important: “Lowest brokerage” can be misleading Many brokers advertise “zero brokerage,” but you still pay: - DP charges when selling stocks - STT - Exchange transaction charges - GST - Stamp duty Several Reddit users in 2026 pointed out that DP charges often matter more than brokerage for investors. ### My practical recommendation - Long-term investor → Zerodha or Groww - Heavy intraday/F&O trader → Shoonya by Finvasia or Dhan - Cheapest possible → Shoonya by Finvasia - Best balance of cost + reliability → Zerodha

When looking for the **lowest brokerage in India**, the market is divided into two major categories: **100% Zero-Brokerage Brokers** (who charge absolutely ₹0 across all or most segments) and **Standard Discount Brokers** (who popularized the flat-₹20 model). It is important to remember that while "brokerage" can be zero, regulatory charges set by SEBI, exchanges, and the government—such as STT (Securities Transaction Tax), GST, Stamp Duty, and DP (Depository Participant) charges—apply across all platforms. --- ## 1. Absolute Zero-Brokerage Brokers These brokers have eliminated brokerage fees entirely across Equity Delivery, Intraday, and F&O. They make money through premium features, margin trading facilities (MTF), or tech API integrations. | Broker | Equity Delivery | Equity Intraday | Futures & Options (F&O) | Demat AMC | |:--- |:--- |:--- |:--- |:--- | | **Flattrade** | **₹0** | **₹0** | **₹0** | ₹0 | | **mStock** (by Mirae Asset) | **₹0** *(with ₹999 lifetime plan)* | **₹0** *(with ₹999 lifetime plan)* | **₹0** *(with ₹999 lifetime plan)* | ₹0 *(with add-on ₹999 plan)* | | **Shoonya** (by Finvasia) | **₹0** | **₹0** | **₹0** | ₹0 | | **Kotak Securities** *(Neo Plan)* | **₹0** | **₹0** | ₹20 per order | Varies by variant | --- ## 2. Industry Leaders & Flat-Fee Discount Brokers These are the market giants. While they might charge a flat fee for Intraday and F&O, they offer some of the most stable trading terminals, high-speed execution, and deep analytical tools. | Broker | Equity Delivery | Equity Intraday | Futures & Options (F&O) | Highlights | |:--- |:--- |:--- |:--- |:--- | | **Groww** | Lower of ₹20 or 0.1% | Lower of ₹20 or 0.1% | Flat ₹20 per order | Currently India's largest broker by active clients; incredibly beginner-friendly. | | **Zerodha** | **₹0 (Free)** | Lower of ₹20 or 0.03% | Flat ₹20 per order | Exceptional platform (Kite) stability, transparency, and vast educational ecosystem (Varsity). | | **Angel One** | Lower of ₹20 or 0.1% | Lower of ₹20 or 0.03% | Flat ₹20 per order | Offers a blend of discount pricing with full-service perks like AI-driven research. | | **Upstox** | Flat ₹20 per order | Lower of ₹20 or 0.05% | Flat ₹20 per order | Highly customizable charts (TradingView integration) favored by active traders. | --- ## 💡 Hidden Costs to Keep in Mind When comparing the "lowest" rates, don't just look at the upfront brokerage. Keep an eye on these operational fees: * **DP (Depository Participant) Charges:** Charged only when you **sell** shares from your Demat account. This usually ranges from ₹13.5 to ₹20 + GST per company per day, regardless of your broker's zero-brokerage claim. * **Account Maintenance Charges (AMC):** Some brokers charge ₹200–₹300 annually, while others offer lifetime free AMC. * **Call & Trade Fees:** If you call the broker desk to place or square off an order for you, they usually charge an extra ₹20 to ₹50 per order. ## Which one should you choose? * **For Long-term Investors:** **Zerodha** or **Groww** are ideal because Equity Delivery (holding stocks) is virtually free or highly capped, and their user interfaces are incredibly reliable. * **For High-Frequency / Intraday Traders:** Platforms like **Flattrade** or **mStock** can save you thousands of rupees a month because paying ₹20 per order multiple times a day quickly adds up.

In 2026, the lowest brokerage options in India are offered by a rising class of **"True Zero" discount brokers** like Shoonya by Finvasia and, which charge **₹0 brokerage across all segments** (Delivery, Intraday, and F&O) without any hidden subscription models. Alternatively, leading discount giants like and charge **₹0 for Equity Delivery** and a flat capped fee of **₹20 per executed order** for Intraday and F&O. To choose the structure that best fits your volume, review this breakdown of India’s lowest-cost stock brokers grouped by their fee models. 1. True Zero-Brokerage Platforms These brokers stand out by completely eliminating commissions across all trading segments, making them ideal for high-frequency intraday and option traders. - **Shoonya by Finvasia**: - **Charges**: Absolutely ₹0 for Equity Delivery, Intraday, Futures, and Options. - **Hidden Fees**: None. There are no account opening fees or annual maintenance charges (AMC). - **Flattrade**: - **Charges**: ₹0 across all segments. - **Key Advantage**: Offers free API access for automated or algorithmic traders alongside zero commission. 2. One-Time Fee / Subscription Zero Brokers These platforms eliminate standard transaction-based brokerage entirely in exchange for an upfront subscription fee. - **Mirae Asset **: - **Charges**: ₹0 lifetime brokerage on all segments (including Intraday and F&O). - **Catch**: Requires a one-time upfront paid account setup fee to unlock the lifetime zero-brokerage tier. - ****: - **Charges**: ₹0 brokerage on delivery, intraday, and limited option lots. - **Catch**: Functions via monthly subscription bundles (e.g., plans at ₹249 or ₹499 per month plus GST). 3. Flat ₹20 Market Leaders (Free Delivery) The largest and most mainstream discount brokers in India use a hybrid model. They charge zero for long-term investing but implement a flat, predictable fee for active daily trading. - **Zerodha**: - **Delivery**: ₹0. - **Intraday & F&O**: Lower of ₹20 or 0.03% per executed order. - **AMC**: Flat ₹300 per year. - **Groww**: - **Delivery**: Lower of ₹20 or 0.05% per order. - **Intraday & F&O**: Lower of ₹20 or 0.05% per executed order. - **AMC**: Completely ₹0 lifetime free. - **** & **Upstox**: - **Charges**: Follow a near-identical flat structure of ₹0 for delivery and a flat ₹20 cap per executed trade for other segments. Direct Comparison Overview | Broker | Equity Delivery Brokerage | Intraday / F&O Brokerage | Annual Maintenance (AMC) | Best Suited For | |---|---|---|---|---| | **Shoonya** | ₹0 | ₹0 | ₹0 | Cost-conscious retail traders | | **Flattrade** | ₹0 | ₹0 | ₹0 | Algo traders requiring free APIs | | **m.Stock** | ₹0 | ₹0 | Varies (Paid lifetime option available) | High-volume traders okay with one-time fees | | **Groww** | ₹0 | Flat ₹20 or 0.05% | ₹0 | Beginners wanting a clean UI & zero AMC | | **Zerodha** | ₹0 | Flat ₹20 or 0.03% | ₹300/year | Reliable tech and extensive charting tools | Crucial Blind Spots to Keep in Mind Even if a broker advertises "Zero Brokerage," your final contract note will never be completely zero. Every trader must pay standard, **non-negotiable statutory government taxes and fees** mandated by SEBI and exchanges: 1. **Securities Transaction Tax (STT)**: Set at 0.1% for equity delivery trades. 2. **Exchange Transaction Charges**: Levied by the NSE or BSE on every transaction value. 3. **DP Charges**: Charged when you sell shares out of your Demat account, typically around ₹13.5 to ₹20 per company per day. 4. **GST**: Appled at a standard rate of 18% on the calculated brokerage, exchange transaction charges, and DP fees. If you want to choose the right partner, tell me: - Are you a **long-term investor** or an **active intraday/F&O trader**? - Do you require specialized features like **algorithmic API trading** or **Margin Trading Facility (MTF)**? - Is a **zero Annual Maintenance Charge (AMC)** account a top priority for you?