Save More with India’s Cheapest Brokers

To a trader, cost-value minimization becomes vital since high brokerage fees eat into profit. Choosing cheap brokerage trading platforms helps with cost-saving and return-making. But how do you find the right broker?

This blog discusses the top low-cost brokers in India, comparing their features and benefits. Keep reading to know the cheapest brokerage trading platforms for efficient and economical trading.

What are the Types of Brokers in India?

In India, brokers fall into two types:

1. Full-Service Brokers

These traditional brokers render all services such as trading, investing, research, advisories, and portfolio management. They usually charge higher brokerage fees aligned with a percentage of trade value or a flat amount per trade, in addition to other fees like account opening and maintenance.

2. Discount Brokers

These modern brokers offer limited services, especially for trading and investing. They charge low flat fees per trade, or in some segments, zero brokerage. Other fees, such as account opening and maintenance charges, are kept minimal, thus enhancing cost advantages to traders. 

If you intend to seek cheap brokerage trading platforms, choosing a discount broker would be the best choice. Let us explore the top low-cost brokers in India. 

Best Brokers with the Lowest Brokerage Charges in India

1. Zerodha

Zerodha is regarded as the leading brokerage firm in India, capitalization on speed and reliability. It operates with its own application Zerodha Kite, which gets accolades for its user-friendly interface along with advanced charting tools and multiple order types.

Features:

• Advanced charting with 100+ indicators and 30 drawing tools.
• Multiple types of orders: market, limit, stop-loss, BO, and CO.
• Basket order functionality for simultaneous placing of multiple orders.
• An integrated console for tracking portfolio, holdings, trades, and P&L.
• The ‘Coin’ platform allows commission-free investment in direct mutual funds.
• Varsity provides free interactive learning about trading and investing.

Charges: 

Account Opening Fees: Free

Annual Maintenance Charges: ₹300

Equity Delivery: Zerp

Equity Intraday: 0.03℅

Call & Trade Charges: ₹50

Efficient Zerodha Kite is made for traders from all horizons. It is among top low-cost brokers in India, giving cheap brokerage trading platforms along with advanced features. 

2. Angel One

Angel One (formerly Angel Broking) is a top full-service broker in India, with 71 lakh active clients as of August 2024. The brokerage firm delivers online and mobile access to the Angel One Trade platform. 

Features: 

• Offers four trading applications: Speed Pro, Trade, App, and Prime.
• Free daily technical and derivative reports.
• Fixed brokerage is charged irrespective of the type of service: trading, derivatives. 
• Provides loans against shares.
• Invest in corporate bonds. 

Charges: 

Account Opening Fees: Free

Annual Maintenance Charges: ₹240

Equity Delivery: ₹0

Equity Intraday: 0.25℅

Call & Trade Charges: ₹20

Angel One combines all these advanced tenets of trading into one package, offering a seamless user experience for prospective traders among the cheap brokerage trading platforms.

3. 5paisa

Emerging among the fastest-growing top low-cost brokers in India, 5paisa provides inexpensive financial services like online trading, mutual funds, and insurance. Following a low-cost brokerage model, it charges ₹20 per order for equity delivery, intraday, F&O, or currency derivatives.

Features:

• Deals with everything: stocks, mutual funds, commodities and currency exchanges.
• Advanced trading offered free research and stock tips.
• Portfolio analysis and monitoring services offered through premium subscriptions. 

Charges: 

Account Opening Fees:  Free

Annual Maintenance Charges:   ₹0

Equity Delivery:   ₹20

Equity Intraday:   ₹20

Call & Trade Charges:    ₹20+GST

5paisa has a cheap brokerage trading platform that has an easy user interface and easy-to-use features. 

4. Upstox

Upstox Pro is a free web-based trading platform for trading in stocks, futures, options, and currencies, under Tiger Global & Ratan Tata. This low-cost brokerage platform:

Features:

• Advanced charts with 100+ indicators.
• Dartstock/NEST Trader/Forex Trader supported.
• Free advanced trading platform.
• Invest in thousands of mutual funds.
• Intraday trading margin maximum: 20% (max: 5x leverage). 

Charges: 

Account Opening Fees:   Free

Annual Maintenance Charges:   ₹0

Equity Delivery:   ₹20/order

Equity Intraday:    0.05℅ or ₹20/order

Call & Trade Charges:   ₹50

If you are looking for cheap brokerage trading platforms, Upstox is one of the top low-cost brokers in India. 

5. Dhan

Dhan is one of India’s fastest-growing stock brokerage platforms driven by technology and product giving a hassle-free trading experience.

Features:

• No account opening and maintenance charges.
• Leverage for Trading and Investment 4 times.
• Low & flat brokerage fees.
• Multiple trading platforms for structured trade.
• Female users can enjoy a 50% discount on brokerage.

Charges: 

Account Opening Fees:   Free

Annual Maintenance Charges:   Free

Equity Delivery:   Zero

Equity Intraday:   0.03℅ or ₹20

Call & Trade Charges:   ₹50

Dhan is another great option for those searching for cheap brokerage trading platforms among the top low-cost brokers in India.

Conclusion

We have looked at some of the top low-cost brokers in India, but do not limit your attention to them. Explore, research, and compare brokers based on what is important to you: ease of use, credibility, customer service, pricing, and features.

Go out there and find the lowest brokerage charges trading platforms to enhance your trading profit!

FAQs

Q1: Which broker has the lowest brokerage charges in India?

Ans. Zerodha, Upstox, and 5paisa are undoubtedly some of the best low-cost brokers in India with a competitive brokerage structure. Zerodha charges a flat fee, Upstox offers free trading in a few segments, and 5paisa charges 20 rupees for every order. 

Q2: Are cheap brokerage trading platforms reliable?

Ans. Yes, these brokers are regulated by SEBI and provide safe platforms with fast execution and admirable support: Zerodha, Angel One, Upstox, and 5paisa. 

Q3: How do I choose the best low-cost broker?

Ans. Look at the brokers’ brokerage fees, platform functionalities, account charges, and customer service ratings.