Lowest brokerage in India 2026

If your goal is **lowest total brokerage cost in India in 2026**, the answer depends on how you trade: | Type of user | Lowest-cost choice | Why | |---|---|---| | Long-term investors (delivery only) | Zerodha, Dhan | ₹0 delivery brokerage; charges mainly come from DP fees and AMC. | | Beginners | Groww | Zero AMC, simple app, low overall cost for casual investing. | | Active intraday traders | mStock | Around ₹5/order flat, lower than the industry-standard ₹20. | | Heavy F&O traders | mStock, Shoonya | Often cited as the lowest-cost options for frequent traders. | | Best balance of cost + reliability | Zerodha | ₹0 delivery, ₹20/order intraday/F&O, strong platform stability. | ### Major Brokers Comparison (2026) | Broker | Delivery | Intraday | F&O | AMC | |---|---:|---:|---:|---:| | Zerodha | ₹0 | ₹20 or 0.03% | ₹20/order | ~₹300/year | | Groww | ₹0–₹20 (varies by plan/source) | ₹20 | ₹20/order | ₹0 | | Upstox | ₹0–₹20 | ₹20 | ₹20/order | ₹150–300/year | | Angel One | ₹0 | ₹20 | ₹20–25/order | ~₹240/year | | Dhan | ₹0 | ₹20 | ₹20/order | ₹0 | | mStock | ₹0 | ~₹5/order | ~₹5/order | One-time plan available | ### What many people miss The brokerage itself is often not the biggest cost anymore. Most discount brokers charge ₹20/order or less. The real differences come from: - **DP charges** when you sell shares. - **AMC (annual maintenance charges)**. - **Margin funding (MTF) interest rates**. - **API/algo trading fees** if you automate trading. ### Quick recommendation - **Investor only (stocks + SIPs):** or - **Regular trader:** - **Heavy F&O / cost-sensitive trader:** or - **Advanced charting trader:** If you tell me whether you do **delivery investing, intraday, or F&O**, I can narrow it down to the cheapest broker for your exact trading style.

If you are hunting for the lowest brokerage rates in India, the market is broadly divided into **True Zero-Brokerage Brokers** (who charge absolutely nothing for trading across segments) and **Standard Discount Brokers** (who charge a flat ₹20 fee). Here is the breakdown of the lowest brokerage options available, categorized by how you plan to trade. --- ## 1. Absolute Zero-Brokerage Platforms (Best for high-volume traders) If you want to completely avoid paying brokerage fees across Intraday, F&O, and Delivery, a few specialized platforms have eliminated these fees entirely. * **Flattrade:** Offers **₹0 brokerage** across all segments including Equity Delivery, Intraday, Futures, and Options. They also offer a lifetime free Demat account with no Annual Maintenance Charges (AMC). * **Navia:** Another emerging player providing a **₹0 lifetime brokerage** model across all segments (including Options and MTF) with zero AMC. * **Kotak Securities (Youth Plan):** Offers zero brokerage on all intraday trades across segments, specifically targeted at individuals under 30 years of age. --- ## 2. Leading Discount Brokers (Best for reliability & advanced tools) The industry giants don't offer absolute zero fees across the board, but they charge a highly competitive flat fee. They are heavily favored for their superior app stability, speed, and advanced charting tools. | Broker | Equity Delivery | Equity Intraday | Futures & Options (F&O) | Account Maintenance (AMC) | |:--- |:--- |:--- |:--- |:--- | | **Groww** | Free | Lower of 0.1% or ₹20 | Flat ₹20 per order | ₹0 | | **Zerodha** | Free | Lower of 0.03% or ₹20 | Flat ₹20 per order | ₹300 / year | | **Angel One** | Free | Lower of 0.03% or ₹20 | Flat ₹20 per order | ₹0 (1st year), then ₹20/month | | **Upstox** | Flat ₹20 per order | Lower of 0.05% or ₹20 | Flat ₹20 per order | ₹0 | --- ## 3. The "Hidden" Charges to Keep in Mind When searching for the cheapest broker, the headline brokerage fee is only half the story. You must also consider **statutory and operational fees** that apply regardless of the broker: * **DP (Depository Participant) Charges:** Charged whenever you **sell** shares from your Demat account (Delivery). This usually ranges between ₹13.5 to ₹20 + GST per stock per day. If you do casual delivery investing, look for a broker with low DP charges. * **STT (Securities Transaction Tax):** A government-mandated tax. It is relatively high for Equity Delivery (0.1% on buy & sell) compared to Intraday (0.025% on sell). * **Auto-Square Off Charges:** If you do intraday trading and forget to close your position before market close, brokers will close it for you and charge a penalty fee (usually ₹20 to ₹50 per order). ### Summary Recommendation * If your primary goal is **saving every rupee on brokerage** (especially for active F&O or Intraday trading), look at **Flattrade** or **Navia**. * If you value **premium charting tools, rock-solid app stability during market volatility, and a clean interface**, **Zerodha** or **Groww** remain the gold standards despite the flat ₹20 fee.

The absolute lowest brokerage charges in India are offered by 100% **true zero-brokerage models** like **Shoonya by Finvasia** and ****, which charge **₹0 brokerage** across all segments including Equity Delivery, Intraday, and Futures & Options (F&O). For high-volume traders who prefer a subscription, **Indiabulls Securities (Dhani Stocks)** offers a flat plan of **₹500 per month** for unlimited zero-brokerage trading. Meanwhile, mainstream market leaders follow a **flat-rate discount model**, charging **₹0 for Equity Delivery** and a flat **₹20 per executed order** for Intraday and F&O. Compare Lowest Brokerage Plans The table below displays the breakdown of headline brokerage structures across popular segments: | Broker | Equity Delivery Fee | Intraday & F&O Fee | Account Maintenance (AMC) | |---|---|---|---| | **Shoonya by Finvasia** | ₹0 | **₹0** | **₹0 (Lifetime)** | | **Flattrade** | ₹0 | **₹0** | **₹0 (Lifetime)** | | **** | ₹0 | **₹10 / order** *(with paid upfront plan)* | ₹0 *(if opted for lifetime plan)* | | **** | ₹0 | **₹9 / order** | ₹0 | | **Groww** | ₹0 | **₹20 or 0.05%** *(lower)* | **₹0** | | **Zerodha** | ₹0 | **₹20 or 0.03%** *(lower)* | ₹300 / year + GST | | **Upstox** | ₹0 | **₹20 or 0.05%** *(lower)* | ₹25 / month | | **Angel One** | ₹0 | **₹20 or 0.25%** *(lower)* | ₹20 / month *(from 2nd year)* | Mechanical Steps to Evaluate "Hidden" Costs A "zero brokerage" tag does not mean trading is entirely free. To find your true net cost, follow this calculation sequence: 1. **Check the DP (Depository Participant) Charges**: This is a flat transaction fee levied when selling shares from your Demat account. It varies between **₹13 to ₹20 per scrip per day** depending on the broker, regardless of transaction volume. 2. **Review Government and Statutory Levies**: These are identical across all brokers and mandated by law. They include the Securities Transaction Tax (STT), SEBI turnover fees, Stamp Duty, Goods and Services Tax (GST at 18%), and Exchange Transaction Charges. 3. **Compare Upfront vs Recurring Costs**: Platforms like **m.Stock** offer incredibly low intraday trading charges (₹10 per order) but may require a one-time onboarding fee to activate the zero/low brokerage tier. 4. **Identify the Inactivity or AMC Penalty**: Some brokers skip a trading platform fee but will charge an Account Maintenance Charge (AMC) quarterly, even if no trades are executed. Look for brokers explicitly offering **Lifetime Free AMC** if your trading frequency is low. Uncover Blind Spots Before Choosing - **Platform Stability vs. Cost**: Brokers like **Zerodha** or **Upstox** charge a premium flat ₹20 fee because they invest heavily in stable infrastructure. True zero-brokerage apps can occasionally suffer technical glitches during high-volatility peak hours. - **Margin Trading Facility (MTF)**: If you buy shares on credit, do not look only at brokerage. Compare the MTF interest rates. Top platforms like **m.Stock** offer MTF rates starting at **8.99% p.a.**, which might save you more money than saving a flat ₹20 on a trade. To help tailor the best option, are you primarily a **long-term delivery investor**, an **intraday trader**, or an **F&O player**? Let me know your average **monthly trading volume** as well.