Lowest Brokerage Charges in India
Which broker is cheapest depends on what you trade. Compare published delivery, intraday and F&O rates side by side.
Fees checked on against each broker's official pricing page.
Our lists are editorially independent. Some links may be sponsored — how we make money.
Our shortlist
Zerodha
Discount broker · ₹0 delivery
₹0 delivery; 0.03% or ₹20 intraday.
- Delivery
- ₹0
- Intraday
- 0.03% or ₹20
- F&O
- ₹20/order
- AMC
- Free yr 1; ₹300/yr + GST
Kotak Securities
Bank-group broker (Kotak Neo) · ₹10 intraday & F&O
₹10 cap on intraday and F&O.
- Delivery
- 0.20% (₹0 Youth)
- Intraday
- 0.05% or ₹10
- F&O
- ₹10/order
- AMC
- ₹50/month + GST (non-BSDA)
Groww
Discount broker · ₹0 AMC
No AMC; 0.1% or ₹20 equity.
- Delivery
- 0.1% or ₹20
- Intraday
- 0.1% or ₹20
- F&O
- ₹20/order
- AMC
- ₹0
5paisa
Discount broker · Flat ₹20
₹20 on every order.
- Delivery
- ₹20/order
- Intraday
- ₹20/order
- F&O
- ₹20/order
- AMC
- Free yr 1; ₹25/month + GST
Cheapest by segment (published rates)
- Delivery: Zerodha ₹0; Kotak Trade Free Youth ₹0 (under 30s).
- Intraday: Kotak Neo ₹10 or 0.05%; Zerodha 0.03% or ₹20.
- Options: Kotak Neo ₹10 per order; most discount brokers ₹20.
- AMC: Groww ₹0.
Brokerage isn't the whole bill
Statutory charges (STT, exchange fees, SEBI fee, stamp duty) and GST are the same at every broker and are often larger than brokerage on delivery trades. The DP charge on each sale and the AMC are broker-specific. Read hidden charges in stock broking.
| Broker | Account opening | AMC | Delivery | Intraday | Options | DP charge |
|---|---|---|---|---|---|---|
| Zerodha | ₹0 | Free yr 1; ₹300/yr + GST | ₹0 | 0.03% or ₹20 | ₹20/order | ₹15.34/scrip/day |
| Groww | ₹0 | ₹0 | 0.1% or ₹20 | 0.1% or ₹20 | ₹20/order | ₹23.60/sell order |
| Angel One | ₹0 | Free yr 1; ₹60/qtr + GST | 0.1% or ₹20 | 0.1% or ₹20 | ₹20/order | ₹23.60/sell txn |
| Upstox | ₹0* | Free yr 1; ₹300/yr + GST | ₹20/order | 0.1% or ₹20 | ₹20/order | ₹23.60/scrip/day |
| ICICI Direct | Not verified | ₹700/yr (₹300 Prime) | 0.29% (Prime lower) | 0.029% | ₹49/lot | ₹20 + GST/scrip/day |
| HDFC SKY by HDFC Securities | ₹0 | Free yr 1; ₹20/month | ₹20 or 2.5% | ₹20 or 2.5% | ₹20/order | ₹23.60/ISIN debit |
| Kotak Securities | ₹0 (₹99 Youth) | ₹50/month + GST (non-BSDA) | 0.20% (₹0 Youth) | 0.05% or ₹10 | ₹10/order | 0.04% (min ₹20) + GST/day |
| Motilal Oswal | ₹0 | ₹0 yr 1; later not verified | 0.20% | 0.02% | ₹20/lot | Not verified |
| 5paisa | ₹0 | Free yr 1; ₹25/month + GST | ₹20/order | ₹20/order | ₹20/order | ₹23.60/ISIN debit |
| Sharekhan | ₹0 | ₹400/yr (yr 2+) | 0.30% | 0.02% | ₹39/lot | Nil via Sharekhan |
Try your own trade in the brokerage calculator.
How we worked out who is cheapest
No broker paid to appear. We took each published tariff and calculated a realistic annual cost for different investor profiles, counting brokerage, AMC, DP charges and the common add-ons rather than looking at the headline rate alone.
- Headline brokerage — the advertised rate or flat fee.
- All-in annual cost — brokerage plus AMC and DP charges for a given number of trades.
- Where percentages return — delivery or special segments that are not flat-fee.
- Fee clarity — whether every charge is listed.
The cheapest headline rate is rarely the cheapest bill. Enter your own trade count in the brokerage calculator to see the real figure.
Worked example: intraday brokerage per order by order size
"Lowest brokerage" depends on order size. Intraday brokerage for one order on each broker's default published plan:
| Broker | ₹5,000 | ₹25,000 | ₹1 lakh | ₹5 lakh |
|---|---|---|---|---|
| Zerodha | ₹1.50 | ₹7.50 | ₹20.00 | ₹20.00 |
| Kotak Securities | ₹2.50 | ₹10.00 | ₹10.00 | ₹10.00 |
| Groww | ₹5.00 | ₹20.00 | ₹20.00 | ₹20.00 |
| Angel One | ₹5.00 | ₹20.00 | ₹20.00 | ₹20.00 |
| Upstox | ₹5.00 | ₹20.00 | ₹20.00 | ₹20.00 |
| 5paisa | ₹20.00 | ₹20.00 | ₹20.00 | ₹20.00 |
| ICICI Direct | ₹1.45 | ₹7.25 | ₹29.00 | ₹145.00 |
| Sharekhan | ₹1.00 | ₹5.00 | ₹20.00 | ₹100.00 |
| Motilal Oswal | ₹1.00 | ₹5.00 | ₹20.00 | ₹100.00 |
Percentage-only rules (common at full-service brokers on default plans) keep rising with order size, while capped rules stop at ₹10 or ₹20. For delivery, see the ₹0-delivery brokers in the table below; for F&O, compare the per-order and per-lot rules on our options trading list.