Lowest Brokerage Stock Brokers – Top 10 in India [2019]

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Top 10 Brokers in India offering Lowest Brokerage in India

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Trading in the stock markets has evolved in the past two decades. The technological advancement in the products and services being offered by brokers and increasing demand from the customers for technologically enhanced platforms are the major reasons behind this change. 

Nowadays, the concept of investing low amounts for higher returns has gathered momentum in the Indian trading community which has caused many discount brokers to come up in the country and become hugely successful which was not the case almost 10 years back when most Indian investors would have to invest with traditional Full-Service brokers who would charge very high brokerage from their clients for their services.

The Full-Service brokers would usually charge a percentage of the trade as brokerage which is not suitable for traders who invest huge sums of money in the stock market and thus have to pay a lot of brokerage charges. Hence these traders don’t find it very profitable to work such brokers and often work with discount brokers who charge a fixed amount of brokerage no matter how big the trade. Let’s explain it with an example:

Suppose you want to invest Rs. 1Lakh in a stock, then the brokerage being charged by a flat fee broker is Rs. 20 whereas traditional brokers would charge Rs. 500 for the same transaction. Hence, traders can save a lot by investing with discount brokers.


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Here is a detailed list of brokers charging the lowest brokerage with the charges being offered by them:

5Paisa

Founded in the year 2015, 5Paisa is the leading discount broking firm based out of Mumbai. It provides its services in the Online Trading, Insurance, and Mutual Funds domain. Here are the brokerage and other charges as follows:

  • 5Paisa has been backed by the Full-Service Broker India Infoline (IIFL) who has been in the broking space for more than 2 decades.
  • They charge one of the lowest brokerage charges with straightforward pricing at Rs10 per executed trade.

Here are the brokerage charges levied by 5Paisa in detail:

SegmentBrokerage(NSE)
Equity Delivery0.00325%
Equity Intraday0.00325%
Equity Futures0.0019%
Equity Options0.050%
Currency Futures0.002%
Currency Options0.06%
Commodity0.0030%
Wisdom Capital

Wisdom Capital is one of the evolving discount brokers in India with its major value proposition being the high amount of leverage it is offering its clients. 

Being a discount broker, it also offers low brokerage charges to its clients which are competitive on comparing with other discount brokers.

Here is the detailed list of charges being offered by Wisdom capital across various segments:

SegmentBrokerage(NSE)
Equity Delivery0.00325%
Equity Intraday0.00325%
Equity Futures0.0028%
Equity Options0.060%
Currency Futures0.028%
Currency Options0.06%
Commodity0.0025%
Zerodha

Zerodha is widely known as the first discount broker in India offering a maximum of Rs 20 brokerage irrespective of the value of the trade.

Zerodha usually charges 0.01% or Rs 20 whichever is lower per executed trade which is remarkably lower as compared to traditional full-service brokers.

Here are the brokerage charges being offered by Zerodha:

SegmentBrokerage(NSE)
Equity Delivery0.00325%
Equity Intraday0.00325%
Equity Futures0.0020%
Equity Options0.050%
Currency Futures0.0135%
Currency Options0.04%
Commodity0.01% or Rs. 20/executed order whichever is lower
SAS Online

Founded in April 2013, SAS Online is relatively new to the stockbroking space but has made huge strides by acquiring clients at a very fast pace. Here is what it has to offer in terms of brokerage charges:

  • Flat brokerage of Rs. 9 or 0.01% per executed trade.
  • Offers monthly brokerage plans for Equity, Currency and Commodity Trading.
  • Call and trade facility available at Rs. 20

Here are the brokerage details offered by SAS Online:

SegmentBrokerage(NSE)
Equity Delivery0.00325%
Equity Intraday0.00325%
Equity Futures0.0250%
Equity Options0.065%
Currency Futures0.00165%
Currency Options0.060%
Commodity0.03%
Finvasia

Launched in 2013, Finvasia is a discount broker who allows its clients to trade in Equity, Currency, Commodity and Derivative Trading segments.

They don’t charge their customers based on the execution of trades but based on the trading platforms you use. Here are the details of how they charge you for using their trading platforms:

NEST: Rs. 149 per segment, Rs.99 per bracket. Premium plan – Rs 777 across all segments.

AMI Broker: Rs. 299 per month for unlimited trading across segments.

SegmentBrokerage(NSE)
Equity Delivery0.00325%
Equity Intraday0.00325%
Equity Futures0.0019%
Equity Options0.050%
Currency Futures0.00115%
Currency Options0.042%
Commodity0.025%
My Value Trade

Founded in 1985 as Master Capital Services when most of the traditional stockbrokers started operations but they have recently pivoted to the discount broker model. Here is how they charge their clients:

  • Flat brokerage of Rs.10 per executed trade.
  • Offers monthly brokerage plans for Equity, Currency and Commodity Trading.
  • Call and trade facility available at Rs. 20

Here are their brokerage charges in detail:

SegmentBrokerage(NSE)
Equity Delivery0.00325%
Equity Intraday0.00325%
Equity Futures0.0030%
Equity Options0.060%
Currency Futures0.00120%
Currency Options0.042%
Commodity0.03%
Prostocks

Founded in 2016, Prostocks is a discount broker who allows its clients to trade in Equity, Currency, Commodity and Derivative Trading segments.

  • Flat brokerage of Rs.15 per executed trade.
  • Offers monthly brokerage plans for Equity, Currency and Commodity Trading.

Here are their brokerage plans in detail:

SegmentBrokerage(NSE)
Equity Delivery0.00325%
Equity Intraday0.00325%
Equity Futures0.0019%
Equity Options0.050%
Currency Futures0.00100%
Currency Options0.040%
Angel Broking

Angel Broking is an established name in the stockbroking industry and has over 5 lakh active clients as per NSE. Although they have positioned themselves as a full-service broker they have recently pivoted to the discount broking flat brokerage model seeing it as the way forward.

Here are some of the flat brokerage plans being offered by Angel Broking below:

  • Rs. 15 per executed trade if your trading turnover is equal to or less than 50k.
  • Rs. 30 per executed trade if your trading turnover is equal to or greater than 50k.

Feel free to check out Angel Broking’s free research tips and start trading with them by filling out this form.

Here are the detailed brokerage plans being offered by Angel Broking:

SegmentBrokerage(NSE)
Equity Delivery0.00325%
Equity Intraday0.00325%
Equity Futures0.0190%
Equity Options0.050%
Currency Futures0.0190%
Currency Options0.050%
Commodity0.03%
Upstox

Upstox is one of the leading discount brokers with more than 2 Lakh active clients trading with them. They are known for developing in-house trading platforms for their clients. Here are some offers by them:

  • Free Delivery Trades
  • Rs. 20 per executed trade or 0.01% of your turnover.
  • Call and trade facility available at Rs. 20

Here are the brokerage details below:

SegmentBrokerage(NSE)
Equity Delivery0.00325%
Equity Intraday0.00325%
Equity Futures0.0019%
Equity Options0.050%
Currency Futures0.00100%
Currency Options0.040%
Commodity0.03%
Samco

Founded in 2012, Samco is one of the leading discount brokers in India allowing its customers to trade in Equity, Currency and commodity segments. They are also known as one of the cheapest brokers in India offering a flat brokerage model to its clients.

  • Free Delivery Trades
  • Rs. 20 per executed trade or 0.01% of your turnover.

Here is their detailed brokerage plan below:

SegmentBrokerage(NSE)
Equity Delivery0.00325%
Equity Intraday0.00325%
Equity Futures0.0021%
Equity Options0.0053%
Currency Futures0.00100%
Currency Options0.040%
Commodity0.025%

Conclusion

In conclusion, we can say that brokerage charges being offered by discount brokers is very less as compared to those being offered by full-service brokers. But low brokerage doesn’t always end up being beneficial to a trader as one should always compare the brokerage with what services one gets in return. Here are some tips for those looking to choose a broker that matches their needs:

  • If you are a day trader or someone who trades in high volume, choose a broker that charges a flat fee or lower brokerage.
  • Make sure to open an account with a reputed and experienced broker.
  • Always research all the costs associated with a broker like account opening fees and account maintenance charges etc.
  • Look for various services being provided by the broker like customer service, trading platforms etc. and compare them with other brokers to get a good idea of the broker which matches your needs.
  • Read reviews on other brokers and always be on the lookout for new offers from brokers.

A broker is someone that you have to work within order to be a successful trader and you will have to work as a team to achieve it.
If you are looking to open an account with the best broker’s in India, kindly fill out your details in this form.

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