Top 5 Brokers with the Lowest Brokerage Charges 2024

If you are a trader or an investor in the Indian stock market, you know how important it is to minimise your costs and maximise your profits. One of the major costs that you have to bear is the brokerage fee that you pay to your stockbroker for executing your trades.

Brokerage fee is the commission that your stockbroker charges for facilitating your buy and sell orders in the stock market. It is usually calculated as a percentage of your trade value or a flat fee per trade, whichever is higher.

Brokerage fees can have a significant impact on your profitability, especially if you trade frequently or in large volumes. It can eat into your profits and reduce your returns. Therefore, it is advisable to choose a stockbroker that offers the lowest brokerage charges in India.

But how do you find such a stockbroker? What are the factors that you should consider before selecting a stockbroker with the lowest brokerage charges? How do you compare different brokers and their charges?

In this blog, we will answer these questions and introduce you to some of the best brokers with the lowest brokerage charges in India. We will also explain what makes them stand out from the rest and how they can help you to save money and increase your profits.

What are the Types of Brokers in India?

Before we dive into the details of the brokers with the lowest brokerage charges, let us first understand the types of brokers that are available in India. Broadly speaking, there are two types of brokers in India:

1. Full-service brokers: These are the traditional brokers that offer a wide range of services and products to their clients, such as trading, investing, research, advisory, portfolio management, etc. They charge a higher brokerage fee based on a percentage of the trade value or a flat fee per trade, whichever is higher. They also charge other fees, such as account opening fees, maintenance fees, transaction charges, etc.
   
   Click on the link to learn about the Top Full-Service Broker in India in 2024.

2. Discount brokers: These are the new-age brokers that offer a limited range of services and products to their clients, such as trading and investing. They charge a lower brokerage fee based on a flat fee per trade or zero brokerage for certain segments and products. They also charge minimal or no other fees and charges, such as account opening fees, maintenance fees, transaction charges, etc.
   
   If you want to know about the Top Discount Brokers in India 2024, then click on the link.

Best Brokers with the Lowest Brokerage Charges in India 2024

1. Zerodha

Zerodha is India's leading brokerage firm. It is best known for its speed and reliability, and Zerodha Kite, its in-house app, offers an intuitive interface, advanced charting tools, and multiple order types.

Users of this platform have access to powerful charting tools, historical data, and a user-friendly design. Since Zerodha Kite is renowned for its effectiveness and speed, traders of all experience levels are welcome to utilise it.

Features:

• An advanced charting tool that supports over 100 indicators and 30 drawing tools
• There are a variety of order types and execution modes, such as market order, limit order, stop-loss order, bracket order (BO), and cover order (CO).
• The basket order feature allows you to place multiple orders at once.
• The Console dashboard gives you a comprehensive view of your portfolio, holdings, positions, trades, P&L, etc.
• The 'Coin' platform allows you to invest in direct mutual funds with zero commission
• Varsity- provides free and interactive learning modules on various topics related to trading and investing.

Charges:

Account Opening Fees	Annual Maintenance Charges	Equity Delivery	Equity Intraday	Call & Trade Charges
Free	₹300	Zero	0.03%	₹50

Note: Starting from 29 June 2024, Zerodha has waived account opening fees for both online and offline accounts held by Indian residents.

2. Angel One

Angel One (formerly Angel Broking) is one of India's leading full-service brokers, with over 7.1 million active clients as of August 2024. Angel One offers a robust and versatile trading platform called Angel One Trade, which is available online. Apart from this, they also offer a mobile app. 

Features:

• Angel One offers a variety of tools to give a broad overview of the markets and trades. Four tools are available: Speed Pro, Trade, App, and Prime. Each serves a particular function for different traders and investors.
• Angle One provides daily technical and derivative reports without charging anything extra.
• It charges a fixed brokerage for day-to-day trading and derivatives.
• It also offers loans against shares.
• Investors also get the chance to invest in corporate bonds through Angle One.

Angel One Charges:

Account Opening Fees	Annual Maintenance Charges	Equity Delivery	Equity Intraday	Call & Trade Charges
Free	₹240	₹0	0.25%	₹20

Note:
1. The AMC charges for Angel One are free for the first year. After that, it charges ₹60 + GST quarterly.
2. The equity delivery charge is ₹0 brokerage for the first 30 days, then the charge is the lower of ₹20 or 0.1% per executed order, with a minimum of ₹2.

3. 5paisa

5paisa is one of India's most rapidly expanding discount brokers. It provides affordable financial services such as online trading, mutual funds and insurance. They feature a straightforward and inexpensive brokerage approach, and they only charge ₹20 per order for any type of trade, whether it be equity delivery, intraday, F&O, or currency derivatives.

5paisa Features:

• All-in-one account for stock, mutual fund, commodity, currency, research, and advisory investments.
• 5paisa offers traders a cutting-edge trading platform as well as free technical, derivative, and fundamental research.
• It offers traders a cutting-edge trading platform together with free technical, derivative, and fundamental research.
• Free stock advice and research.
• With their premium subscriptions, 5paisa offers a variety of services, including portfolio analyzers, monitoring services, etc.

5paisa Charges:

Account Opening Fees	Annual Maintenance Charges	Equity Delivery	Equity Intraday	Call & Trade Charges
Free	₹0	₹20	₹20	₹20 + GST

Note: AMC if your holding value is up to ₹4,00,000 (billed quarterly). If your holding value is between ₹4,00,000 and ₹10,00,000, the AMC is ₹8.33 plus 18% GST per month (billed quarterly).

4. Upstox

Upstox provides a free web-based trading platform called Upstox Pro that is easy to use and allows for trading in stocks, futures, options, and currencies. This brokerage platform is backed by Tiger Global & Ratan Tata and is a great affordable brokering platform.

Features:

• This platform offers an advanced charting tool that supports over 100 indicators.
• They provide a variety of third-party trading systems, including Dartstock, NEST Trader, and Fox Trader.
• The fact that its advanced trading platform is offered without charge increases its popularity among traders.
• You may invest in thousands of mutual funds with the Upstox MF Platform. 
• Depending on the stock, Upstox's margin for intraday trading is up to 20% of trade value (maximum 5x leverage). 

Upstox Charges:

Account Opening Fees	Annual Maintenance Charges	Equity Delivery	Equity Intraday	Call & Trade Charges
Free	₹0	₹20/order	0.05% or ₹20/order	₹50

5. Dhan

One of India's most rapidly expanding technology- and product-driven stock brokerage platforms, Dhan offers its consumers blazing-fast investment and trading experiences. Every sort of investor may afford the competitive and reasonable brokerage fees offered by Dhan. Furthermore, it provides female consumers with a 50% discount.

Dhan Features:

• Dhan charges nothing for account opening and maintenance charges.
• Leverage up to 4x is available for trading and investing.
• Dhan charges low and flat-rate brokerage fees.
• It provides a variety of trading platforms for organised trade.

Dhan Charges:

Account Opening Fees	Annual Maintenance Charges	Equity Delivery	Equity Intraday	Call & Trade Charges
Free	Free	Zero	0.03% or ₹20	₹50

Active Clients as of August 2024

Broker	Active Clients
Zerodha	78 lakh
Angel One	71 lakh
Upstox	27 lakh
Dhan	7 lakh
5paisa	5 lakh

Conclusion 

We have reviewed some of the best brokers in India who offer low brokerage charges. However, don't limit yourself to these options. It's important to explore other brokers and compare them to find the best one for you based on your own criteria and preferences. 

The best broker with low brokerage charges is the one that meets your needs in terms of ease of use, reliability, customer service, pricing, features, and more. To help you find the best broker, we recommend visiting Finology Select. Here, you can find, compare and open a Demat account with the broker that suits you. 

It is a platform that helps you choose the best broker for your trading and investing goals. It provides unbiased and detailed reviews of various brokers, allowing you to compare them based on various parameters such as brokerage charges, account opening fees, margin facilities, customer support, and more. Visit today!

Frequently Asked Questions

1. What are the different types of brokerage charges?

Brokerage charges typically fall into two categories:

• Percentage-based: This fee is a percentage of the trade value. It applies to both buying and selling.
• Flat fee: This fee is a fixed amount charged per trade, irrespective of the trade value.

2. Who offers the lowest brokerage charges?

Discount brokers generally offer the lowest brokerage charges compared to full-service brokers. Discount brokers provide a basic trading platform and limited investment advice, focusing on lower fees.

3. Should I choose a broker based solely on brokerage charges?

While brokerage charges are important, they shouldn't be the only factor to consider. Here are some other things to keep in mind:

• Services offered: Do you need research tools, investment advice, or other features? Full-service brokers may offer these but charge higher fees.
• Trading platform: Is the platform user-friendly, and does it have the features you need?
• Customer service: Is reliable customer support important to you?