Lowest brokerage in India 2026

If you're looking for the **lowest brokerage stock broker in India in 2026**, these are among the most competitive options: | Broker | Equity Delivery | Intraday/F&O Brokerage | Notes | |--------|-----------------|-------------------------|-------| | m.Stock | ₹0 | ₹0 with lifetime brokerage plans (or flat plan depending on account type) | Often the cheapest for active traders. | | Zerodha | ₹0 | ₹20 or 0.03% (whichever is lower) | Industry benchmark for discount broking. | | Groww | ₹0 | 0.1% or ₹20 (whichever is lower), minimum ₹5 | Popular for beginners. | | Dhan | ₹0 | ₹20 per order | Good for active traders. | | Angel One | ₹0 | Around ₹20 per executed order | Includes research and advisory features. | | Upstox | ₹0 | ₹20 per order | Strong trading platform. | ### Which is the cheapest? - **Lowest overall:** **m.Stock**, especially if you opt for its lifetime zero-brokerage plan for eligible segments. - **Best standard pricing:** Zerodha, Dhan, Groww, Angel One, and Upstox all charge around **₹20 per executed order** for intraday and F&O while keeping equity delivery brokerage at **₹0**. If your primary trading is **F&O (options/futures)**, I can also compare **total trading cost** (brokerage + exchange charges + GST + STT + stamp duty), which often matters more than brokerage alone.

In 2026, the stock broking landscape in India features incredibly competitive pricing, transitioning from the standard ₹20 per trade model to **absolute zero-brokerage** or **unlimited subscription models**. The platforms offering the lowest brokerage charges in India are detailed below, categorized by their pricing models: ## 1. Absolute Zero-Brokerage Brokers (True ₹0) These platforms have completely disrupted the market by charging zero brokerage across all trading segments, including Intraday and Futures & Options (F&O). * **Flattrade:** One of the market leaders in true cost-saving. It offers **₹0 brokerage** forever across all segments—Equity Delivery, Intraday, F&O, Currency, and Commodities. Account maintenance charges (AMC) are also free. * **m.Stock (by Mirae Asset):** Offers a "Zero Brokerage for Life" plan. By paying a one-time account opening fee (usually around ₹999), you get ₹0 brokerage across all segments (Delivery, Intraday, F&O, Mutual Funds) forever. Alternatively, they offer a basic plan with a flat **₹10 per trade** across all segments, which is still half the industry standard. --- ## 2. Flat Subscription/Fixed Plan Brokers If you are a high-volume trader or scalper, fixed monthly plans can save you a massive amount of money compared to per-order fees. * **Wisdom Capital:** Offers flat subscription plans (e.g., Freedom Plan) providing **₹0 brokerage** on NSE cash/delivery, or a fixed monthly subscription (around ₹999/month) for unlimited trading in F&O and commodities. Alternatively, they offer a very low flat rate of **₹9 per executed order**. --- ## 3. Standard Discount Brokers (The ₹20 Flat-Fee Era) The pioneers of discount broking still dominate the market in terms of user experience, stability, and active clients. They generally follow a dual model: **Free Equity Delivery** but a flat fee for Intraday and Derivatives. | Broker | Equity Delivery Brokerage | Intraday & F&O Brokerage | Demat AMC | |:--- |:--- |:--- |:--- | | **Zerodha** | ₹0 (Free) | Lower of ₹20 or 0.03% per order | ₹300 / year | | **Groww** | Lower of ₹20 or 0.1% | Lower of ₹20 or 0.1% per order | ₹0 (Free) | | **Angel One** | ₹0 (Free) | Lower of ₹20 or 0.25% per order | Variable (Free 1st yr) | | **Dhan** | ₹0 (Free) | Lower of ₹20 or 0.03% per order | ₹0 (Free) | --- ### 💡 Keep in Mind: The "Hidden" Charges Even if a broker charges **₹0** or **₹20** in brokerage, you will always have to pay statutory government and exchange taxes. These apply equally across all brokers: * **STT (Securities Transaction Tax):** The largest component, charged mostly on the sell side (or both sides for equity delivery). * **Exchange Transaction Charges:** Charged by the NSE/BSE. * **DP Charges:** Charged by the depository (CDSL/NSDL) when you sell shares from your Demat account (usually around ₹13.5 to ₹20 per company per day). * **GST:** 18% applied on the brokerage and exchange charges combined. **Recommendation:** If you are a long-term investor who only buys and holds, **Zerodha, Groww, or Dhan** are exceptionally cheap (free delivery). If you are an active day trader or F&O scalper executing dozens of orders daily, choosing a true zero-brokerage platform like **Flattrade** or **m.Stock** will save you thousands of rupees every month.

The **lowest brokerage options in India for 2026** are offered by **discount brokers providing absolute zero-brokerage models** across various segments, or a **flat fee of ₹20 per trade**. The industry features three main pricing tiers: **Zero Brokerage Brokers** (completely free trading models), **Flat ₹20 Discount Brokers** (industry-standard budget models), and **Traditional Full-Service Brokers** (higher volume-based percentage pricing). Top 10 Lowest Brokerage Demat Accounts (Compared) The following table presents a structured breakdown of the most cost-effective stock brokers operating in India as of 2026: | Broker | Equity Delivery Brokerage | Intraday & F&O Brokerage | Highlight Feature | |---|---|---|---| | **** | **₹0 (Free)** | **₹0 (Free)** | 100% zero brokerage across all segments. | | **** | **₹0 (Free)** | **₹0 (Free)** | Zero brokerage for life via a one-time upfront fee. | | **Shoonya by Finvasia** | **₹0 (Free)** | **₹0 (Free)** | Zero trading fees and free algorithmic trading APIs. | | **** | **₹0 (Free)** | **₹0 (Free)** | Zero brokerage pricing framework. | | **Zerodha** | **₹0 (Free)** | **Flat ₹20** or 0.03% (lower) | Largest ecosystem with clean interface and tools. | | **Groww** | **₹0 (Free)** | **Flat ₹20** or 0.05% (lower) | India's largest broker by active client volume. | | **** | **₹0 (Free)** | **Flat ₹20** or 0.1% (lower) | Modernized full-service tools at discount prices. | | **** | **₹0 (Free)** | **Flat ₹20** | Highly optimized interface built specifically for traders. | | **Upstox** | **₹0 (Free)** | **Flat ₹20** or 0.05% (lower) | Fast technology infrastructure with strong charting tools. | | **5Paisa** | Flat ₹20 | **Flat ₹20** | Uniform pricing tier suited for heavy volume traders. | Hidden Costs to Keep in Mind Even if a platform claims to have **₹0 brokerage**, you are still required by Indian regulations to pay mandatory, non-negotiable statutory fees on every transaction: - **Securities Transaction Tax (STT)**: 0.1% on delivery (both buy and sell), and 0.025% on intraday (sell side only). - **Demat DP Charges**: A flat transaction fee (usually ₹13.5 to ₹20 + GST) charged by the depositaries (CDSL/NSDL) and the broker every time you sell shares from your delivery holdings. - **Exchange Transaction Charges**: Fees charged directly by the **NSE or BSE** to clear your trades. - **GST**: A standard 18% tax calculated on the combined value of your brokerage and exchange transaction charges. Which Broker Type is Best For You? - **For Long-Term Delivery Investors**: Choose mainstream platforms like **Groww**, **Zerodha**, or **Dhan**. They charge a **₹0 brokerage fee for equity delivery holdings** while offering highly reliable server uptime. - **For Active Intraday and F&O Traders**: Look into absolute zero-brokerage apps like **Flattrade** or **m.Stock**. Saving ₹40 per round-trip trade will significantly improve your overall profit margins. To help tailor a recommendation, what **segments** do you trade most (e.g., Equity Delivery, Intraday, or Options)? Also, let me know if your monthly **trading volume** is high or if you prefer a platform with **zero Annual Maintenance Charges (AMC)**.