Zero brokerage demat account in India
"Zero brokerage" demat accounts are a popular marketing pitch, but no Indian broker is genuinely cost-free. Most "zero brokerage" claims refer to a specific segment — typically equity delivery — while other segments and account-level charges still apply. Here is what to look for and which brokers come closest to the genuinely-free promise.
What is actually free
When a broker says "zero brokerage", they usually mean one specific thing — free equity delivery brokerage. Zerodha pioneered this in India in 2010. Today several brokers offer ₹0 equity delivery: Zerodha, Dhan, Fyers (on some plans) and a few smaller brokers. This is genuine — the broker's own fee on a delivery buy or sell is ₹0.
Free does not extend to other segments. Intraday, futures, options and currency typically still carry brokerage — usually ₹20 flat or 0.03 %, whichever is lower. So "zero brokerage" is rarely zero across the board.
What still costs money
Even on a "zero brokerage" delivery trade, the following charges still apply:
- STT (Securities Transaction Tax) — 0.1 % on both buy and sell sides of delivery.
- Exchange transaction charges — ~0.00345 % on NSE.
- SEBI turnover fee — ₹10 per crore.
- Stamp duty — 0.015 % on the buy side.
- GST — 18 % on (brokerage + exchange charges + SEBI fee).
- DP charges — ₹10–₹20 per scrip per day on every sell.
- AMC (Annual Maintenance Charge) — ₹0 to ₹300 / year depending on broker and plan.
Brokers that come closest to truly free
Combining "₹0 delivery brokerage" with "₹0 AMC" gets you as close to free as the Indian retail market allows today:
- Dhan — ₹0 equity delivery brokerage; ₹0 AMC on the basic plan.
- Groww — ₹20 / 0.1 % on delivery (not zero, but small); ₹0 AMC.
- Zerodha — ₹0 equity delivery brokerage; ₹300 / year AMC.
- Fyers — varies by plan; check current tier.
When "zero brokerage" is not the cheapest
Free delivery does not mean free trading overall. Once you trade intraday or F&O, brokerage kicks in across all brokers. If you are an active trader, total cost depends on per-lot or per-order fees on the segments you actually trade — not on the delivery headline. Use the brokerage calculator on each broker page to compute the all-in cost for your trading pattern before choosing.
Frequently asked
What people ask about zero brokerage demat account in india.
Not in the way it once was. ₹0 equity delivery brokerage is genuine — the broker really does not charge for delivery trades. The model works because brokers monetise other segments (intraday, F&O), account-level fees (AMC) and ancillary products (margin trading, IPO subscription). The economics are real, just shifted.
They have visible charges, not hidden — STT, exchange transaction charges, GST, stamp duty, DP charges and (sometimes) AMC are all standard, disclosed and identical to other brokers. The brokerage line is the one set to zero on delivery; everything else is the same.
For pure cost minimisation, Dhan currently leads on combined free delivery + free AMC. Zerodha is the largest and most trusted with free delivery but ₹300 AMC. Pick by app preference, support quality and segment activity — not just headline brokerage.
Yes, in the market sense — share prices fluctuate. "Zero brokerage" refers to the broker's fee, not market risk. SEBI registration and depository custody apply identically.