If you trade large volumes without the need for research and investment advisory services then you should open an account with discount brokers. Discount brokers charge a flat fee of Rs. 20 per order.
Full-service brokers charge brokerage in percentage terms that range from 0.3% to 0.55% of the trade volume and offer a host of research and investment advisory.
List of Top 20 stock brokers in India
Our Top Picks Demat Accounts in India
Zerodha (read full Zerodha review) is a Bengaluru based stockbroker that brought the concept of the discount broking model to India. Zerodha now contributes over 15% of the total retail trading volumes in India having more than 3 million client base.
Zerodha is best for placing high volume trades with minimal margin requirements. Zerodha charges a flat Rs. 20 for intraday and F&O trades.
You can invest in mutual funds, bonds and IPO (through Bhim UPI). Equity delivery and direct mutual fund investment are free.
Why Zerodha is at #1
Zerodha Brokerage Charges
Zerodha Account Opening & AMC Charges
Upstox (read full Upstox review) is the fastest growing discount broker in India. Upstox is the best choice for high volume traders looking for high margins (up to 15X), low brokerages, and decent trading platforms.Simla Stock
You only pay brokerage of Rs. 20 to do an intraday, F&O, currencies, and commodities trading irrespective of the trade volume. The stock delivery is free.
Why Upstox
Upstox Brokerage Charges
There are two trading plans – namely the Basic plan and the Priority plan.
Upstox Account Opening & AMC Charges
If you can pay the account opening fee and AMC, I would suggest Zerodha over Upstox because of its better trading platforms and customer support. Stock delivery is also free in Zerodha.
5Paisa is a top stock broker that charges the lowest brokerage of flat Rs. 10 per order under the Power Investor & Ultra Trader pack. But you need to pay up to Rs. 20 per order for stock delivery trades.
You get a common account for stock trading, mutual funds, insurance and investment.
5paisa mobile app is the best mobile trading app in India. The app is really easy to use and provides a great experience.
If you are looking for the cheapest brokerage charges and having a requirement for the mobile trading app then you should go with 5Paisa.Jaipur Stock
Why 5Paisa is at #3
5Paisa Brokerage Charges
5Paisa offers two addon packs with lower brokerage charges
Under the Ultra Trader pack, the first 100 trades are free every month after which you need to pay Rs. 10 per executed order.
5Paisa Account Opening & AMC Charges
The Demat and Trading account opening is free. The account maintenance charges are up to Rs. 25 per month.
Wisdom Capital is one of the best discount broker in India for derivatives (Equity and commodity F&O) trading.
The broker charges one of the lowest flat brokerages of Rs. 9 per trade for derivative trading under the Pro plan.
Wisdom Capital is based out of Noida and has 1000 franchises all over India.
Wisdom Capital Brokerage Charges
Wisdom Capital has three trading plans – Freedom Plan, Pro Plan and Ultimate Plan;
Wisdom Capital Account Opening & AMC Charges
Charges for opening an account online with Wisdom Capital under various plans are as under.
India Infoline is an ISO certified diversified financial arm of the IIFL group. IIFL Securities (read full IIFL review) is a full-service stockbroker with other value-added services like
IIFL Brokerage Charges
IIFL Account Opening & AMC Charges
Angel Broking is a 30+-year-old full-service broking company that offers discount brokerage rates of Rs. 20 per trade.
You can invest in IPO, OFS, bonds and even avail loans against shares. Angel Broking has a pan India presence covering 18,649 pin codes with over 2.15 million operational broking accounts.
Angel Broking Brokerage Charges
Angel Broking does not have different trading plans. You need to pay a maximum of Rs. 20 per trade across the trading segment irrespective of the trading volume.
Angel Broking Account Opening & AMC Charges
Sharekhan is a full-service stockbroker having two decades of industry presence with 2+ million clients and pan India presence across 541 cities.
The value-added services include mutual fund investment and portfolio management services. New traders can benefit from various stock trading courses on Sharekhan Education.
Sharekhan offers research advisory customized for traders, investors and for mutual fund investment separately.
Sharekhan Brokerage Charges
Sharekhan Account Opening & AMC Charges
Edelweiss broking has over two decades of industry presence where you can invest & trade in shares, derivatives (F&O), mutual funds, insurance Gold ETF and IPO.
Presently, they have a team of 11,938 professionals across 200 locations in India handling more than a million clients.
Edelweiss offers guided investing through portfolio organizer and research reports.
Edelweiss Brokerage Charges
Edelweiss has two brokerage plans
You have the flexibility to switch accounts. Account switch is free when you switch from Lite to Elite. Whereas a fee of Rs. 2,500 is charged when you switch from the Elite to the Lite plan.
Edelweiss Account Opening & AMC Charges
Backed by Kotak Mahindra Bank, Kotak Securities is a full-service stockbroker having presence in 393 cities with 1539 branches, franchisees.
Services offered include investment in stocks, derivatives, mutual funds, IPOs and ETFs. You can also look for portfolio management and in house research advisory services.
Kotak Securities Brokerage Charges
Kotak Securities offers four plans, namely Fixed Brokerage plan, Dynamic Brokerage plan, Advance Brokerage plan and Shubh Trade plan.
#1. Fixed Brokerage Plan
#2. Dynamic Brokerage plan
For Delivery TradesLucknow Stock
For Intraday Trade
Futures
Options – Brokerage is applicable on both sides
Currency Derivatives
Motilal Oswal is a full-service stockbroker with over three decades of industry presence and is known for solid research advisory.
The broker has an in-house research team that covers 260+ companies & stocks in over 21 sectors. In fact, they spend almost 10% of the revenue on research and on hiring & training for research.
Motilal Oswal offers daily, weekly, monthly, quarterly and annual reports on stock markets, companies, various sectors, market analysis reports and thematic reports.
Brokerage, Admin and AMC Charges
Motilal offers three types of plans. The brokerage details under each plan are as under
#1. Value Pack
#2. Margin Scheme
#3. AMC 999 Plan
Admin Charges – Rs. 199 annually
AMC Charges – Rs. 800 annually
Motilal Oswal Account Opening Charges
ICICI Direct research covers stock, companies, market and mutual funds. The research reports are available on the website and on the trading page.
The research products include
The period of different reports is from daily to yearly.
ICICI Direct Brokerage Charges
ICICI has an i-Secure plan, Prepaid brokerage plan, ICICI Direct Prime plan and ICICI Direct Neo plan.
#1. Brokerage charges for the i-Secure plan
A variable percentage of brokerage is charged on the basis of quarterly turnover.
The brokerage for Margin and Margin Plus under the i-Secure Plan is 0.050%.
#2. Brokerage charges under Prepaid Brokerage plan
Both buy and sell legs of Intra-day Futures & Options will be charged as per applicable brokerage rates
#3. Brokerage charges under ICICI Direct Prime plan
#4. ICICI Direct Neo Plan
You need to pay Rs. 299 as one time subscription fee for Neo planKolkata Stocks. The brokerage in F&O will be charged on both legs.
ICICI Direct Account Opening & AMC Charges
ICICI Direct Trading Platforms
#1. ICICI Trade Racer
ICICI Trade Racer online trading platform is available in the web version, desktop version and on mobile devices.
Trade Racer comes with a market and Trend Scanner, Live Scanner to help analyze and trade. Trade Racer also offers “Heat maps” for spotting price movements.
Best For
ICICI Direct is best if you already have an existing banking relationship with ICICI bank. You also benefit from their trading tips, research advisory and wealth management services.
If you want to compare ICICI Direct with a discount broker then you can read side by side the comparison between ICICI Direct vs Zerodha.
I would recommend to open Zerodha account If you ask me which is the best stock broker in India.Agra Stock
Jaipur Investment