Lowest brokerage in India 2026

If your only goal is the **lowest brokerage in India (2026)**, then a few brokers stand out: | Broker | Equity Delivery | Intraday/F&O Brokerage | Notes | |----------|----------|----------|----------| | m.Stock | ₹0 | Around ₹5/order on standard plans | Among the lowest mainstream brokers | | Shoonya | ₹0 | Zero brokerage on many segments | Popular among cost-focused traders | | Finvasia | ₹0 | Zero brokerage | Similar zero-brokerage model | | Paytm Money | ₹0 | ₹10/order | Lower than most major brokers | | 5paisa | ₹0 | ₹10/order | Competitive for active traders | | Zerodha | ₹0 delivery | ₹20/order or 0.03% (whichever lower) | Industry benchmark | | Upstox | ₹0 delivery | ₹20/order | Strong trading platform | | Angel One | ₹0 delivery (offers may apply) | ₹20/order | Includes research tools | | Groww | Low/₹0 depending on segment | ₹20/order | Simple interface for beginners | ### My ranking by brokerage cost alone 1. Shoonya / Finvasia (zero brokerage models) 2. m.Stock 3. Paytm Money / 5paisa 4. Zerodha / Upstox / Angel One / Groww ### If you want the best balance of cost + reliability - Long-term investors: Zerodha - Beginners: Groww - Active traders/F&O: Upstox or Dhan - Absolute lowest brokerage: Shoonya or m.Stock If you tell me whether you do **investing, intraday, or options trading**, I can suggest the cheapest broker after considering brokerage, AMC, DP charges, and hidden costs.

The stock broking landscape in India features intense competition, with several **discount brokers** offering zero or incredibly low brokerage fees. Because brokerage structures are highly competitive, the "lowest" broker depends entirely on whether you are investing for the long term (Delivery) or trading actively (Intraday and F&O). Here is a breakdown of the lowest brokerage options in India, categorized by trading style. --- ## The Zero-Brokerage Pioneers (Best for Active Traders) If you want to completely eliminate brokerage fees across the board, these platforms are your best bet. They charge **₹0 brokerage** on Intraday, Delivery, and F&O, usually replacing it with a flat subscription fee. ### 1. M stock (by Mirae Asset) * **Delivery:** ₹0 * **Intraday & F&O:** ₹0 * **The Catch:** You need to pay a one-time lifetime account opening fee (usually around ₹999) to unlock the zero-brokerage plan forever. ### 2. Shoonya (by Finvasia) * **Delivery:** ₹0 * **Intraday & F&O:** ₹0 * **The Catch:** Truly zero brokerage with no hidden subscription fees. However, their user interface is more utilitarian and geared toward advanced traders rather than beginners. --- ## The Flat ₹20 Giants (Best for Reliability & Ecosystem) These are the market leaders. While not entirely free, they charge a flat, predictable fee that makes them incredibly cheap for large volume trades. | Broker | Equity Delivery Brokerage | Intraday & F&O Brokerage | Account Maintenance (AMC) | |:--- |:--- |:--- |:--- | | **Groww** | Lower of 0.05% or **₹20** | Lower of 0.05% or **₹20** | ₹0 | | **Zerodha** | **₹0** (Free) | Lower of 0.03% or **₹20** | ₹300 / year | | **Angel One** | **₹0** (Free) | Lower of 0.03% or **₹20** | ₹0 for 1st year, then ~₹20/month | ### Key Takeaways for this Category: * **For Long-Term Investors:** **Zerodha** and **Angel One** are technically cheaper than Groww because they charge absolute ₹0 for Equity Delivery. * **For Casual Investors:** **Groww** is highly popular because it charges no annual maintenance fees (AMC), meaning you aren't penalized just for holding an account. --- ## ⚠️ The "Hidden" Costs to Remember Even if a broker advertisement says "Zero Brokerage," you will **never** pay absolute zero to trade in India. The government and regulators levy mandatory statutory charges on every transaction, which include: * **STT (Securities Transaction Tax):** The largest chunk of your tax bill, levied by the Govt of India. * **Exchange Transaction Charges:** Charged by NSE/BSE. * **SEBI Turnover Fees** * **Stamp Duty** * **GST:** 18% on the sum of brokerage + exchange charges. * **DP (Depository Participant) Charges:** Usually ₹13 to ₹20 per company, charged only when you *sell* shares from your demat account. > **Pro-Tip:** Before picking a broker, always use their online **"Brokerage Calculator"** to plug in your expected trade volume. This will show you the exact breakdown of regulatory fees versus actual brokerage. --- Are you looking to invest long-term, or are you planning on doing daily intraday/options trading? I can give you a more specific recommendation based on your trading style.

**Finvasia (Shoonya)** and **** offer the absolute lowest brokerage in India, providing **₹0 brokerage** across all segments including Equity Delivery, Intraday, Futures & Options (F&O), and Commodities, paired with **lifetime zero Account Maintenance Charges (AMC)**. For traders who prefer mainstream, highly-capitalized platforms, **m.Stock** offers a similar lifetime zero-brokerage plan across all segments for a one-time upfront fee of ₹999. Meanwhile, market giants like ****, ****, ****, and **Upstox** lead the traditional discount brokerage model with flat ₹20 per trade fees. 1. Absolute Zero-Brokerage Platforms (True Free Tier) These platforms charge absolutely nothing for trade execution across any segment and do not charge recurring yearly maintenance fees. - **Finvasia (Shoonya)** - **Delivery / Intraday / F&O Brokerage**: ₹0 - **Account Maintenance Charges (AMC)**: ₹0 (Lifetime Free) - **Best For**: High-volume retail traders looking to completely eliminate transaction overheads. - **Flattrade** - **Delivery / Intraday / F&O Brokerage**: ₹0 - **Account Maintenance Charges (AMC)**: ₹0 (Lifetime Free) - **Best For**: F&O traders looking to execute high-frequency multi-leg option strategies without per-order costs. 2. One-Time Paid Zero-Brokerage Platforms These brokers offer zero brokerage across all segments for life, but require a subscription or an upfront one-time account opening activation fee. - **m.Stock (by Mirae Asset)** - **Upfront Setup Fee**: ₹999 (for lifetime zero brokerage) - **Delivery / Intraday / F&O Brokerage**: ₹0 - **Account Maintenance Charges (AMC)**: ₹0 if you pay an additional one-time fee of ₹999, otherwise ₹120 per quarter. - **Best For**: Traders wanting the infrastructure of a global financial institution (Mirae Asset) without recurring volume charges. 3. Flat-Rate Discount Brokers (The Industry Standard) These platforms are the most popular in terms of market volume. They offer free equity delivery investing but charge a highly competitive flat fee for intraday and derivatives. | Broker | Equity Delivery | Intraday & F&O Charges | Annual Maintenance (AMC) | |---|---|---|---| | **Groww** | ₹0 or 0.05% *(lower)* | Flat ₹20 per executed order | **₹0 (Free)** | | **Zerodha** | **₹0 (Free)** | Flat ₹20 or 0.03% *(lower)* | ₹300/year + GST | | **Angel One** | **₹0 (Free)** | Flat ₹20 or 0.25% *(lower)* | ₹240/year *(Free 1st Year)* | | **Upstox** | **₹0 (Free)** | Flat ₹20 per executed order | ₹25/month + GST | | **Dhan** | **₹0 (Free)** | Flat ₹20 or 0.03% *(lower)* | **₹0 (Free)** | Crucial Hidden Costs to Consider Even if a broker advertises "Zero Brokerage," you cannot trade completely for free in India. The **Securities and Exchange Board of India (SEBI)** and state governments levy statutory taxes on every transaction. Make sure to calculate these mandatory charges when comparing costs: 1. **Securities Transaction Tax (STT)**: 0.1% on both buy and sell sides for Equity Delivery; 0.0625% on sell side for Options. 2. **DP Charges (Demat Debit Charges)**: Charged only when you **sell** shares from your holding. Usually ranges between ₹13.5 to ₹20 + GST per company per day, regardless of the order size. 3. **SEBI Turnover Fees & Exchange Transaction Charges**: Standard minimal clearing fractions charged by the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). 4. **Goods and Services Tax (GST)**: 18% applied to the sum of the broker's brokerage fee + SEBI fees + Exchange transaction charges. To help find the right fit, please let me know: What is your primary **trading style** (long-term investing, intraday, or options)? Do you require **advanced charting tools**, or is a clean, simple **mobile app interface** your top priority?