Lowest brokerage in India 2026

If your goal is **the lowest brokerage in India in 2026**, the answer depends on whether you're an investor or an active trader. | Broker | Equity Delivery | Intraday | F&O | AMC | |----------|----------|----------|----------|----------| | Zerodha | ₹0 | ₹20/order or 0.03% | ₹20/order | ~₹300/year | | Groww | ₹0–₹20 depending on segment | ₹20/order | ₹20/order | ₹0 | | Upstox | ₹0 | ₹20/order | ₹20/order | ₹0 or low | | Angel One | ₹0 | ₹20/order | ₹20/order | Low/₹0 plans | | mStock | Among the cheapest; some plans offer zero brokerage after one-time fee | Very low | Very low | One-time plan available | | Shoonya | ₹0 | ₹0 brokerage model | ₹0 brokerage model | ₹0 | Sources indicate that the major discount brokers (Zerodha, Groww, Upstox, Angel One) have largely converged around ₹20-per-order pricing for intraday and F&O, with zero brokerage for delivery investing. ### Best choice by use case - **Lowest overall brokerage:** Shoonya (zero-brokerage model). - **Lowest cost for heavy traders:** mStock can be cheaper than the standard ₹20/order brokers. - **Best balance of low cost + reliability:** Zerodha. - **Best for beginners:** Groww. One important point: brokerage is not the only cost. DP charges, AMC, MTF interest, exchange charges, STT, and GST can matter more than the brokerage itself, especially for frequent traders. If you tell me whether you do: 1. Long-term investing, 2. Intraday trading, or 3. F&O trading, I can suggest the cheapest broker specifically for your style.

In 2026, the stockbroking landscape in India features incredibly competitive pricing, predominantly divided into two types of budget brokers: **Zero Brokerage Brokers** (who charge nothing for trading) and **Flat-Fee Discount Brokers** (who charge a minimal flat rate, typically ₹20 per trade). The stock brokers in India offering the lowest brokerage, broken down by their fee models, include the following: ### 1. Absolute Zero-Brokerage Platforms These brokers have disrupted the market by charging **₹0 brokerage** across almost all segments, making them the cheapest options for active traders. * **Flattrade:** True to its name, it offers ₹0 brokerage across **all segments**—including Equity Delivery, Intraday, Futures & Options (F&O), Commodities, and Currency—completely free, forever. They also offer a lifetime free Demat account with no annual maintenance charges (AMC). * **m.Stock (by Mirae Asset):** Offers a lifetime zero-brokerage account across all segments (Delivery, Intraday, F&O) for a one-time account opening fee (usually around ₹999). Alternatively, they offer a budget plan with a flat **₹10 per trade**, which is half the price of traditional discount brokers. * **Shoonya (by Finvasia):** Another prominent multi-asset platform offering absolute zero brokerage on clearing, trading, and account maintenance across NSE, BSE, and MCX. --- ### 2. Industry-Standard Discount Brokers (Flat ₹20/Trade) These market leaders do not charge for long-term equity investing (Delivery), but they charge a flat fee for short-term trading. They are highly favored for their superior app stability, advanced charting tools, and massive user bases. * **Groww:** India’s largest broker by active users. * * **Equity Delivery:** Free ($₹0$). * **Intraday & F&O:** Lower of **₹20 or 0.05%** per executed order. * **AMC:** ₹0. * **Zerodha (Kite):** The pioneer of discount broking in India. * * **Equity Delivery & Mutual Funds:** Free ($₹0$). * **Intraday & F&O:** Lower of **₹20 or 0.03%** per executed order. * **AMC:** ₹300/year. * **Angel One:** A hybrid full-service discount broker providing research insights alongside cheap pricing. * * **Equity Delivery:** Free ($₹0$). * **Intraday & F&O:** Lower of **₹20 or 0.25%** per executed order. --- ### Comparison of Top Low-Cost Brokers | Broker | Equity Delivery | Intraday / F&O | Account Maintenance (AMC) | |:--- |:--- |:--- |:--- | | **Flattrade** | ₹0 | ₹0 | ₹0 | | **m.Stock** | ₹0 (Paid Plan) | ₹0 (Paid Plan) or ₹10 | ₹0 (Paid Plan) | | **Groww** | ₹0 | Flat ₹20 or 0.05% | ₹0 | | **Zerodha** | ₹0 | Flat ₹20 or 0.03% | ₹300 / year | | **Angel One** | ₹0 | Flat ₹20 or 0.25% | ₹240 / year (Free 1st year) | --- ### ⚠️ Important: "Zero Brokerage" Does Not Mean "Zero Cost" Even if a broker charges ₹0 in brokerage fees, you are legally required by SEBI and the Government of India to pay statutory transaction taxes on every trade. These include: 1. **STT (Securities Transaction Tax):** 0.1% on delivery (both buy & sell) and 0.025% on intraday (sell only). 2. **Exchange Transaction Charges:** Charged by NSE/BSE (approx. 0.003% to 0.005%). 3. **DP (Depository Participant) Charges:** Charged only when you **sell** shares from your Demat account (usually ₹13.5 to ₹20 per company/ISIN per day). 4. **GST:** 18% applied on the brokerage, exchange charges, and DP charges. **Recommendation:** If you are a high-volume F&O or Intraday trader, 100% zero-brokerage platforms like **Flattrade** or **m.Stock** will save you the most money. If you prefer top-tier platform UI, reliability, and tech ecosystem, **Groww** or **Zerodha** remain the top choices despite the flat ₹20 fee.

The absolute lowest brokerage fees in India are offered by **"True Discount"** and **"Zero Brokerage"** brokers. Leading the market are platforms like **Shoonya by Finvasia**, which offers completely zero brokerage across all segments, and flat-fee brokers like **Zerodha**, which charge nothing for delivery and a nominal flat fee for other segments. The brokerage plans, account opening costs, and specific fees for top Indian brokers are broken down below. 1. Zero Brokerage & True Discount Brokers These brokers charge **₹0 for Equity Delivery** (long-term investing) and extremely low flat fees for intraday, F&O, and commodities. | Broker | Equity Delivery | Equity Intraday | Equity Futures | Options | Account Opening / AMC | |---|---|---|---|---|---| | **Shoonya by Finvasia** | Free | ₹0 or 0.03% | ₹0 or 0.03% | ₹5 per executed order | Zero / Zero | | **Zerodha** | Free | Lower of ₹20 or 0.03% | Lower of ₹20 or 0.03% | Flat ₹20 per executed order | ₹200 (Opening) / ₹300 (AMC) | | **Groww** | Free | Lower of ₹20 or 0.05% | Lower of ₹20 or 0.05% | Flat ₹20 per executed order | Zero / Zero | | **Dhan** | Free | Lower of ₹20 or 0.03% | Lower of ₹20 or 0.03% | Flat ₹20 per executed order | Zero / Zero | 2. Full-Service & Hybrid Brokers These brokers offer advisory services, research reports, and relationship managers, which means their brokerage rates are traditionally higher, though they have introduced flat-fee tiers. | Broker | Equity Delivery | Equity Intraday / F&O | Account Opening / AMC | |---|---|---|---| | **Angel One** | Free | Flat ₹20 per order | Zero / ₹240+GST (AMC) | | **Upstox** | Free | Flat ₹20 per order | Zero / Zero | | **ICICIdirect** | Varies (Up to 0.55%) | Flat ₹20 per order (Prime Plan) | Varies by account type | 🚨 Crucial Hidden Costs to Keep in Mind Even if a broker charges **₹0 brokerage**, you must still pay statutory and exchange charges. These include: - **STT (Securities Transaction Tax):** Charged by the government; ~0.1% on the total turnover for Delivery, and 0.025% on the sell side for Intraday. - **Exchange Transaction Charges:** Charged by the NSE/BSE; usually around 0.003% to 0.005% of your total turnover. - **GST:** **18%** calculated on the *sum of Brokerage and Exchange Charges*. - **Stamp Duty:** State-specific tax on the buy side. If you are looking to open an account, the right choice depends on your trading frequency and preferred app interface. If you are interested, I can: - Detail the **best mobile apps** for beginners. - Compare these brokers based on **margin funding and API access**. - Recommend a broker based on your **primary investment segment (Intraday, F&O, or Long-term Delivery)**. Let me know how you'd like to proceed!