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5 Top Stock Brokers in India with Lowest Brokerage Fees: A Detailed Analysis

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by Ankita Lodh on 30 July 2024,  4 minutes min read

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If you’ve ever considered starting your financial journey in the Indian share market, you’ve probably realised that choosing the right broker is crucial. But with so many top stock brokers in India, where do you even start?

In this guide, we’re going to walk you through the landscape of stock brokers in India, considering brokerage charges, which will help you understand the key players and what they offer.

We’ll also take a closer look at some of the top brokers in India, comparing their fees, features, and what sets them apart. From established names to up-and-coming platforms, we’ll give you detailed insights into what each has to offer.

Types of brokers in India

Stock market brokers are an intricate part of the Indian equity market, connecting investors and traders as intermediaries. As an investor, navigating the financial market can be daunting, and understanding different types of brokers is needed. There are primarily two types of stock brokers in India available:

Full-service brokerage

Full-service brokers are traditional brokers that provide an array of products and services, including trading and investing, research, and portfolio management, to name a few. Usually, these brokers charge high fees depending on the percentage of the value of the trade. They may also charge a flat fee on every trade. The charges depend on which one is higher between the two.

Discount brokerage

A discount broker is a stockbroker who, in contrast to a full-service broker, executes buy and sell orders at lower commission rates. But unlike full-service brokers, discount brokers don’t offer investment advice or handle client-side research.

Also read: 5 Best Trading Apps in India: Features, Pros, and Cons

Top share brokers in India with the lowest brokerage fees

Now that we have a clear understanding of the types of stock brokers in India, let’s take a detailed look at the top stock brokers in India for you to compare them based on fees and features.

Dhanush

First on our list of top stock brokers in India is Dhanush, the new-age trading platform backed by the Ashika Group’s 30+ years of experience. Dhanush offers full-service brokerage benefits at a discount broker value. With Dhanush, you can trade on NSE, BSE, MCX, MSE, and NCDEX. Being a new player in the market, the platform offers competitive brokerage fees with a plethora of features and benefits.

The platform is accessible in three different formats: app, web, and desktop. Users can also get regular free research reports daily, weekly, and monthly to help them get an edge in the equity market.

Dhanush by Ashika Group

Dhanush charges:

 
Account opening  Zero
Annual Maintenance Charges Zero (for the first year)
Equity Delivery 0.05%
Equity Intraday 0.002%

Zerodha

The top broking company in India is called Zerodha. Its internal programme, Zerodha Kite, has an easy-to-use interface, sophisticated graphing capabilities, and several order types.

Zerodha Kite is most renowned for its speed and dependability. This platform has a user-friendly UI, strong charting capabilities, and historical data. All levels of experience in trading are invited to use Zerodha Kite because of its well-known speed and efficacy.

Zerodha charges:

Account opening  ₹300
Annual Maintenance Charges ₹300 
Equity Delivery Zero
Equity Intraday 0.03% 

Upstox

Upstox offers Upstox Pro, a free web-based platform for trading that is renowned for its user-friendliness and diverse trading options. With Upstox Pro, you can easily get access to equities, options, and the F&O market.

Upstox Pro is supported by Tiger Global and Tata Group and is considered a cost-effective brokerage platform.

Upstox comes with advanced charting tools with 100 indicators, up to 5x leverage on intraday trading margins, and third-party trading system support.

Upstox Pro charges:

Account opening  Free
Annual Maintenance Charges ₹150 
Equity Delivery 2.5%
Equity Intraday 0.05%

Angel One

Earlier known as Angel Broking, Angel One offers a flexible trading platform, Angel One Trade, that comes with robust features and benefits. Angel One offers a multitude of tools to provide a holistic view of the market and trades, such as Speed Pro, Trade, App, and Prime.

Angel One charges:

Account opening  Free
Annual Maintenance Charges ₹240 
Equity Delivery Zero
Equity Intraday 0.25%

Groww

Groww comes with the Groww app and Groww web, which offer trading facilities to investors at competitive prices. Groww bases the cost of its services on a simple flat fee structure. Any brokerage fee, including intraday, equity delivery, and F&O, will cost a maximum of ₹20. The broking calculator allows users to precisely evaluate all related costs.

Additionally, Groww provides free account setup and upkeep. Customers can access their services at a reasonable cost by opening trading and Demat accounts without any fees, and there are no maintenance costs associated with the Demat account.

Groww charges:

Account opening  Free
Annual Maintenance Charges Free
Equity Delivery ₹20 or 0.05%
Equity Intraday ₹20 or 0.05%

 

Also read: Stock Market Index in India: Definition, Types, and Importance

Conclusion

Now that we have explored some of the top stock brokers in India with the lowest brokerage fees, make sure never to restrict yourself to these choices. Choose the broker that not only has the lowest charges but also satisfactory customer service, convenience of use, dependability, affordability, and features.

Dhanush by Ashika Group has been a promising name in the Indian equity market for not only offering exciting features for every investor but also operating as one of the leading platforms with the lowest brokerage fees.

FAQs

  1. How do I start trading in India? 
    To begin trading in India, you’ll first need to open a demat and trading account with a registered broker like Ashika Stock Broking Ltd. This process involves completing Know Your Customer (KYC) formalities, which typically include providing proof of identity and address. Once your account is set up, you’ll need to fund it with the amount you’re willing to invest. Before making your first trade, it’s crucial to spend time researching and understanding the market.
  2. Which trading is best for beginners? 
    The ideal strategy for beginners is usually seen as a long-term stock investment. This involves buying shares of established companies, often referred to as blue-chip stocks, and holding them for extended periods. Another beginner-friendly option is investing in index funds, which provide exposure to a broad market index like the Nifty 50.
  3. What is the 3-5-7 rule in trading?
    A trading risk management strategy known as the 3-5-7 rule recommends putting a maximum amount of cash into a single deal. This guideline states that you should never risk more than 3% of your trading capital on a single trade, 5% on a single sector, and 7% on all deals combined.

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