Lowest brokerage in India 2026

If your goal is purely **lowest brokerage cost in India in 2026**, the answer depends on whether you're an investor, intraday trader, or F&O trader. ### Cheapest brokers in 2026 | Feature | m.Stock | Dhan | Zerodha | Groww | |---|---|---|---|---| | Equity delivery | ₹0 | ₹0 | ₹0 | Usually ₹0–₹20 depending on plan/trade type | | Intraday | ₹5/order | ₹20/order | ₹20/order | ₹20/order | | F&O | ₹5/order | ₹20/order | ₹20/order | ₹20/order | | AMC | One-time plan available | ₹0 | ~₹300/year | ₹0 | | Best for | Lowest-cost traders | Low-cost active traders | Reliability + ecosystem | Beginners | m.Stock is widely cited as the lowest-cost option for active traders because of its ₹5/order pricing, compared with the industry-standard ₹20/order charged by most discount brokers. ### Best broker by use case #### Long-term investors - Zerodha — zero delivery brokerage, strong platform, huge user base. - Dhan — zero AMC and zero delivery brokerage, often cheaper overall for smaller portfolios. #### F&O traders - m.Stock — lowest brokerage at ₹5/order. - Zerodha and Dhan — preferred for platform quality and execution. #### Beginners - Groww — easiest UI and zero AMC. - Zerodha — more features and learning resources. ### Important: Don't compare only brokerage Many investors focus on the ₹20 brokerage and ignore: - DP charges when selling shares - AMC charges - MTF interest rates - Pledging charges - Call-and-trade fees Reddit users who compared full charge sheets found that these hidden costs often matter more than the headline brokerage. ### My practical ranking for 2026 1. Dhan — best balance of low cost and features. 2. Zerodha — best overall reliability and ecosystem. 3. m.Stock — absolute cheapest for heavy traders. 4. Groww — best for first-time investors. If you tell me whether you do **investing**, **intraday**, or **F&O trading**, I can calculate which broker will actually be cheapest for your expected monthly trades.

The Indian stockbroking space has split into two main camps: **100% Zero-Brokerage platforms** (ideal for high-frequency traders) and the **Industry-Standard Discount Brokers** (who charge a flat ₹20 fee but offer robust, top-tier platforms). The lowest brokerage options in India are broken down by their structures below: --- ## 1. Absolute Lowest (True ₹0 Brokerage Across All Segments) These platforms have entirely eliminated brokerage fees across Equity, F&O, Intraday, and Commodities to acquire market share. ### Flattrade * **Equity Delivery / Intraday:** ₹0 * **Futures & Options (F&O):** ₹0 * **Account Maintenance (AMC):** ₹0 * *The Catch:* The user interface is relatively basic compared to major giants, but you save 100% on brokerage. ### Shoonya (by Finvasia) * **Equity Delivery / Intraday:** ₹0 * **Futures & Options (F&O):** ₹0 * **Account Maintenance (AMC):** ₹0 * *The Catch:* Relies heavily on clearing fees or proprietary tech monetisation rather than upfront fees. --- ## 2. The Flat-Fee Industry Leaders (₹20 per trade) These are the most popular discount brokers in the country. While they charge a flat fee for Intraday/F&O, they offer highly stable apps, deep tech integration, and massive user bases. | Broker | Equity Delivery | Intraday | Futures & Options (F&O) | Demat AMC | |:--- |:--- |:--- |:--- |:--- | | **Groww** *(Largest by active users)* | 0.1% or ₹20 (whichever is lower) | 0.1% or ₹20 (whichever is lower) | Flat ₹20 per executed order | ₹0 | | **Zerodha** *(Pioneer of discount broking)* | **₹0 (Free)** | 0.03% or ₹20 (whichever is lower) | Flat ₹20 per executed order | ₹300/year (billed quarterly) | | **Angel One** | **₹0 (Free)** | 0.03% or ₹20 (whichever is lower) | Flat ₹20 per executed order | ₹0 for the 1st year; then ₹20/month | | **Upstox** | 2.5% or ₹20 (whichever is lower) | 0.05% or ₹20 (whichever is lower) | Flat ₹20 per executed order | ₹0 | --- ## ⚠️ Important "Hidden" Costs to Remember Even with a "Zero Brokerage" platform, trading is never entirely free due to government-mandated taxes and depository charges: * **STT (Securities Transaction Tax):** Charged by the government. It is higher on Delivery (0.1% on buy/sell) than Intraday (0.025% on sell). * **DP (Depository Participant) Charges:** Every time you **sell** a stock from your Demat holding, CDSL/NSDL and your broker charge a combined flat fee of roughly **₹13.5 to ₹18.5 + GST per company/ISIN**, regardless of whether your brokerage is zero. * **GST:** A flat 18% tax applied on the brokerage + transaction charges + DP charges. > **The Verdict:** If you are a casual long-term investor who only buys delivery shares, **Zerodha** or **Groww** are incredibly cheap because of their free/low delivery models. If you are an aggressive F&O or Intraday trader trying to save thousands in monthly friction costs, **Flattrade** or **Shoonya** will yield the absolute lowest bill.

The lowest brokerage charges in India for 2026 are offered by **"True Zero Brokerage" platforms like Shoonya by Finvasia and **, which charge **₹0 brokerage across all segments** (Equity Delivery, Intraday, and F&O). Other highly competitive "Flat Fee" discount brokers like offer ₹0 or ₹10 pricing after a one-time onboarding fee, while market leaders like charge **₹0 for delivery and a flat ₹20 per trade** for intraday and F&O. Comparison of the Lowest Brokerage Stock Brokers Stock brokers in India generally fall into three low-cost categories: Truly Zero Brokerage, Subscription/One-Time Fee Zero Brokerage, and Flat ₹20 Discount Brokerage. | Broker | Equity Delivery | Equity Intraday | Futures & Options (F&O) | Demat AMC (Annual) | |---|---|---|---|---| | **Shoonya by Finvasia** | **₹0** | **₹0** | **₹0** | ₹0 | | **Flattrade** | **₹0** | **₹0** | **₹0** | ₹0 | | **m.Stock by Mirae Asset** | **₹0** | ₹0 *(with ₹999 plan)* or ₹10 | ₹0 *(with ₹999 plan)* or ₹10 | ₹0 *(with ₹999 upfront)* | | **** | **₹0** | Flat ₹11 | Flat ₹11 | ₹0 | | **Zerodha** | **₹0** | Lower of ₹20 or 0.03% | Flat ₹20 | ₹300 | | **Groww** | Lower of ₹20 or 0.05% | Lower of ₹20 or 0.05% | Flat ₹20 | ₹0 | | **Upstox** | Lower of ₹20 or 0.05% | Lower of ₹20 or 0.05% | Flat ₹20 | ₹0 to ₹300 | | **Angel One** | Lower of ₹20 or 0.10% | Lower of ₹20 or 0.03% | Flat ₹20 | ₹240 | Key Breakdown of Top Options 1. Truly Zero Brokerage Brokers (Best for Active Retail Traders) - **Shoonya by Finvasia & Flattrade**: These platforms are completely free across all trading fields. They do not charge commission on intraday or F&O lots, making them excellent for high-volume traders looking to save on execution fees. - **m.Stock**: If you pay a one-time onboarding fee of ₹999, they waive all brokerage across delivery, intraday, and F&O for life. Without the upfront fee, it defaults to a very competitive flat ₹10 per trade. 2. Flat ₹20 Discount Brokers (Best for Stability & Advanced Tools) - **Zerodha**: The industry benchmark. It offers zero brokerage for long-term equity delivery and direct mutual funds. For trading segments, it keeps a strict cap of ₹20 per executed order. - **Groww & Upstox**: Highly rated apps that charge no annual maintenance fee (AMC) in basic tiers. They follow a similar structure of a maximum of ₹20 per trade. Hidden Costs to Keep in Mind Even if a stock broker advertises "Zero Brokerage", you will always have to pay government-mandated regulatory and statutory fees. These are uniform across all brokers in India and include: - **Securities Transaction Tax (STT)**: 0.1% on buy/sell for equity delivery, and 0.025% on the sell side for intraday trading. - **DP (Depository Participant) Charges**: A flat charge (usually ₹13.5 to ₹15 + GST) applied by the depository whenever you sell shares from your holding account. - **Exchange Transaction Charges & SEBI Turnover Fees**: Minor percentage fractions levied on trade volume. - **Goods and Services Tax (GST)**: 18% applied on the total sum of brokerage, transaction fees, and SEBI fees. To help you find the absolute best match for your trading style, could you tell me **what segment you intend to trade the most** (e.g., long-term Delivery investments, Intraday trading, or Futures & Options) and **how frequently you plan to place orders**?