Cheapest broker in India
Ranked by intraday brokerage on a sample ₹1,00,000 turnover. Intraday is the cleanest single-segment proxy for active-trader cost — most retail volume sits here, and the headline fee mostly aligns with what the broker charges across other segments.
Single-segment proxy: brokerage on a ₹1,00,000 intraday trade using each broker's default plan. Brokerage only — no statutory.
- #1
Stocko charges ₹9.00 intraday brokerage on a ₹1L trade (Lite (Per Trade) plan).
Intraday brokerage / ₹1L₹9.00 - #2
Kotak Securities charges ₹10.00 intraday brokerage on a ₹1L trade (Trade Free Plan).
Intraday brokerage / ₹1L₹10.00 - #3
m.Stock charges ₹10.00 intraday brokerage on a ₹1L trade (Flat ₹10 plan).
Intraday brokerage / ₹1L₹10.00 - #4
Sahi charges ₹10.00 intraday brokerage on a ₹1L trade (Flat ₹10 plan).
Intraday brokerage / ₹1L₹10.00 - #5
Aditya Birla Money charges ₹10.00 intraday brokerage on a ₹1L trade (Standard plan).
Intraday brokerage / ₹1L₹10.00 - #6
Monarch Networth Capital charges ₹10.00 intraday brokerage on a ₹1L trade (Standard (Percentage) plan).
Intraday brokerage / ₹1L₹10.00 - #7
Indiabulls Securities charges ₹11.00 intraday brokerage on a ₹1L trade (Flat ₹11 plan).
Intraday brokerage / ₹1L₹11.00 - #8
TradeSmart charges ₹15.00 intraday brokerage on a ₹1L trade (Power Plan).
Intraday brokerage / ₹1L₹15.00 - #9
ProStocks charges ₹15.00 intraday brokerage on a ₹1L trade and nothing on equity delivery (Flat ₹15 plan).
Intraday brokerage / ₹1L₹15.00 - #10
Groww charges ₹20.00 intraday brokerage on a ₹1L trade (Flat ₹20 plan).
Intraday brokerage / ₹1L₹20.00
Cheapest broker in India — charges compared
| Broker | Account opening | Demat AMC | Delivery | Intraday | Options | Intraday / ₹1L |
|---|---|---|---|---|---|---|
| Stocko | Trading account Rs. 200; demat account opening NIL | Rs. 200 + 18% GST per annum from 2nd year (1st year free) | ₹9 / 0.1% | ₹9 / 0.01% | Flat ₹9 | ₹9.00 |
| Kotak Securities | 99 rupees on the Trade Free Youth plan | 0 rupees on the Trade Free Youth plan | 0.2% | ₹10 / 0.05% | Flat ₹10 | ₹10.00 |
| m.Stock | Rs 0 (no account opening charge) | Rs 0 with the one-time Rs 999 lifetime-free-AMC plan; otherwise a standard demat AMC applies | Flat ₹10 | Flat ₹10 | Flat ₹10 | ₹10.00 |
| Sahi | Free (zero account opening charge) | Zero (no demat AMC) | ₹10 / 0.05% (min ₹10) | ₹10 / 0.05% (min ₹10) | Flat ₹10 | ₹10.00 |
| Aditya Birla Money | Trading account opening Rs 750; demat account opening Nil (per Chittorgarh) | Rs 436 per year (per Chittorgarh) | 0.1% | 0.01% | Flat ₹20/lot | ₹10.00 |
| Monarch Networth Capital | — | Rs 350 per year (first 6 months free) | 0.15% | 0.01% | Flat ₹15/lot | ₹10.00 |
| Indiabulls Securities | Zero (free account opening) | First year free; then Rs. 300 + GST/year for individual non-BSDA accounts | ₹11 / 2.5% | ₹11 / 2.5% | Flat ₹11 | ₹11.00 |
| TradeSmart | Free for equity/F&O/currency trading + CDSL demat; MCX commodity segment activation costs an extra approx. ₹200 | Nil first year, then ₹300 per year | Flat ₹15 | Flat ₹15 | Flat ₹15 | ₹15.00 |
| ProStocks | Rs 0 (free for both trading and demat account) | Rs 0 (zero AMC) with Rs 1,000 one-time refundable deposit | Free | Flat ₹15 | Flat ₹15 | ₹15.00 |
| Groww | Rs 0 (free demat and trading account opening) | Rs 0 (no annual maintenance charges) | ₹20 / 0.1% (min ₹5) | ₹20 / 0.1% (min ₹5) | Flat ₹20 | ₹20.00 |
Compute the all-in landed cost for your actual trade size on the brokerage calculator. Open the brokerage calculator.
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Frequently asked
What people ask about cheapest broker in india.
For intraday trading the cheapest brokers consistently come from the flat-fee discount cohort — Zerodha, Dhan, Upstox, Groww, Angel One — all at ₹20 or below per executed order. The exact #1 varies by trade size; the calculator on each page shows the exact number.
The cheapest brokerages in India are the flat-fee discount brokers — Zerodha, Dhan, Upstox, Groww and Angel One — which charge ₹20 or less per executed order on intraday and F&O, and several (Zerodha, Dhan, m.Stock, Paytm Money) charge ₹0 brokerage on equity delivery. The single cheapest depends on what you trade: this page ranks brokers by intraday brokerage on a ₹1,00,000 trade, and the calculator on each broker page computes the exact all-in cost — brokerage plus STT, GST, stamp duty, exchange, SEBI and DP charges — for your trade size.
Cost and safety are independent. Every broker on this list is SEBI-registered and an NSE / BSE member, with demat at CDSL or NSDL. Safety differences across SEBI-registered brokers are minimal; pick by fit and cost.
Almost, but check the statutory charges and DP charges too. Statutory charges (STT, exchange transaction, SEBI fee, stamp duty, GST) are largely standardised across brokers. DP charges differ a little (₹10–₹20 per sell-side scrip per day). The all-in landed cost is what matters.