INDmoney review
Independent review of INDmoney — brokerage, app, account opening, customer support and the kind of investor it actually fits. INDmoney is a SEBI-registered discount broker for Indian stocks (and a US-stocks aggregator on a separate product).
Brokerage at a glance
Headline brokerage on the default INDmoney standard plan. On top of brokerage you also pay STT, exchange transaction charges, SEBI fee, stamp duty, GST and DP charges — see full charges for the breakdown.
About INDmoney
INDmoney is a SEBI-registered discount broker for Indian stocks (and a US-stocks aggregator on a separate product). For Indian equities, delivery is free; intraday and F&O are charged at flat ₹20 per executed order or 0.05% of turnover (whichever is lower).
Opening a INDmoney account
Account opening is fully online for Indian residents. Keep your PAN, Aadhaar (with mobile linked for OTP), a bank cancelled cheque or statement, a passport-size photo and a signature on white paper handy. Aadhaar e-KYC, in-person video verification and e-sign typically take 1–3 working days end-to-end. Start at www.indmoney.com.
Alternatives to INDmoney
See the full ranked list of every retail broker in India on the stock brokers in India page. To compare exact landed cost on a typical trade, use the brokerage calculator — switch brokers in the dropdown without leaving the page.
Frequently asked
What people ask about INDmoney.
INDmoney is SEBI-registered and holds NSE / BSE membership, so it meets the regulatory bar every Indian broker must clear. Whether it is a good fit depends on what you trade. Compare the live brokerage and statutory charges on the INDmoney brokerage calculator before deciding.
Equity delivery is Free. Equity intraday is ₹20 / 0.05%. Equity options is Flat ₹20. On top of brokerage you pay STT, exchange transaction charges, SEBI fee, stamp duty, GST and DP charges. The brokerage calculator on this site shows the all-in landed cost for a sample trade.
INDmoney is registered with SEBI and a trading member of NSE / BSE. Demat accounts are held with CDSL or NSDL — the broker does not hold your shares, the depository does. Funds are held in a SEBI-regulated client bank account separate from the broker's own funds. The risk to investors from broker failure is limited; the larger risk to manage is account fraud via phishing and OTP sharing.
The app covers order placement, watchlists, holdings and statements.. For a full feature list and download links see the INDmoney app page.
Account opening is fully online for Indian residents. You need PAN, Aadhaar (with mobile linked for OTP), a bank cancelled cheque or statement, a passport-size photo and a signature on white paper. Aadhaar e-KYC, in-person video verification and e-sign typically take 1–3 working days. Apply via https://www.indmoney.com.
Discount brokers comparable to INDmoney include Zerodha, Groww, Upstox, Dhan and Angel One. Full-service alternatives include ICICI Direct, HDFC Securities, Kotak Securities and Sharekhan. Compare brokerage rates side-by-side on the brokerage calculator before switching.