Independent · Data-driven · No affiliation
Indian stock brokers, compared on published facts - nothing else.
We compare 16 Indian brokers using only figures they publish themselves or that appear in top-ranked published comparisons, with a source for every number. When a broker doesn't publish something, we say Not Disclosed - we never estimate, infer or invent a figure, and no broker gets preferential treatment.
| Broker | Delivery | Intraday | F&O | Reported speed | API | AMC | Source |
|---|---|---|---|---|---|---|---|
| 5paisa | ₹20 per order (flat) | ₹20 per order (flat) | ₹20 per order (flat) | ≈ 85 ms (median) | 5paisa Xtream API | ₹0 for BSDA; up to ₹300 + GST per year on higher holdings | Official |
| Alice Blue | ₹20 or 2.5% per order (whichever is lower); ₹0 on the Freedom (F20) plan | ₹15–₹20 per order depending on plan - see official pricing | ₹15–₹20 per order depending on plan - see official pricing | Not Disclosed | ANT API | ₹0 (zero AMC) | Official |
| Angel One | ₹20 or 0.1% per order (whichever is lower; see official pricing for current schedule) | ₹20 or 0.03% per order (whichever is lower) | ₹20 per order (flat) | ≈ 95 ms (median) | SmartAPI | Free first year, then ₹60 + GST per quarter (non-BSDA) | Official |
| Arrow | ₹0 (free) | ₹20 or 0.03% per order (whichever is lower) | ₹20 per order (options); ₹20 or 0.03% per order for futures (whichever is lower) | 95% < 2.9 ms · 99% < 4 ms | Arrow API | ₹0 (individual accounts; ₹500/year for non-individual accounts) | Official |
| Dhan | ₹0 (free) | ₹20 or 0.03% per order (whichever is lower) | ₹20 per order (flat) | 95% < 25 ms (DEXT, self-reported) | DhanHQ API | ₹0 | Official |
| Fyers | ₹0 (free) | ₹20 or 0.03% per order (whichever is lower) | ₹20 per order (flat) | p99 < 7 ms (processing, self-reported) | Fyers API | ₹0 (zero AMC) | Official |
| Groww | ₹20 or 0.1% per order (whichever is lower; minimum applies - see official pricing) | ₹20 or 0.1% per order (whichever is lower) | ₹20 per order (flat) | < 50 ms (self-reported) | Groww Trade API | ₹0 | Official |
| ICICI Direct | Plan-based - see official brokerage page (flat ₹20 plans available) | Plan-based - flat ₹20 per order on current flat-fee plans | Plan-based - flat ₹20 per order on current flat-fee plans | Not Disclosed | Breeze API | ₹700 per year (₹300 for iVALUE subscribers) | Official |
| IIFL Securities | 0.25% per order on the standard plan; lower-percentage and flat plans available - see official pricing | 0.05% per order on the standard plan - see official pricing | ₹20 per order (flat) | ≈ 95 ms (median) | IIFL Securities API | Free first year, then ₹250–₹450 per year depending on plan | Official |
| Kotak Neo (Kotak Securities) | Plan-based - see official pricing (Trade Free plans) | ₹20 per order or lower on current Trade Free plans - see official pricing | Plan-based - see official pricing | ≈ 80 ms (median) | Kotak Neo Trade API | See official pricing page | Official |
| Paytm Money | ₹20 per order - see official pricing for current schedule | ₹20 per order (flat) | ₹20 per order (flat) | Not Disclosed | Paytm Money API | ₹0 demat AMC (₹300 per year platform fee applies) | Official |
| Pocketful | ₹0 (free; ₹0.01 minimum per order) | ₹20 or 0.03% per order (whichever is lower) | ₹20 per order (flat) | < 50 ms (self-reported) | Pocketful API | ₹0 | Official |
| Sahi | ₹10 or 0.05% per order (whichever is lower) | ₹10 or 0.05% per order (whichever is lower) | ₹10 per order (flat) | P95 < 6.61 ms · mean ≈ 5.9 ms | No | ₹0 | Official |
| Shoonya (Finvasia) | ₹0 (zero brokerage, per official site) | ₹0 (zero brokerage, per official site) | ₹0 (zero brokerage, per official site) | ≈ 140 ms (median) | Shoonya API | ₹0 | Official |
| Upstox | ₹20 or 2.5% per order (whichever is lower) | ₹20 or 0.05% per order (whichever is lower) | ₹20 per order (flat) | ≈ 135 ms (median) | Upstox API | ₹0 first year, then ₹300 + GST per year | Official |
| Zerodha | ₹0 (free) | ₹20 or 0.03% per order (whichever is lower) | ₹20 per order (flat, options) | ≈ 80 ms (median) | Kite Connect | ₹300 per year | Official |
Brokerage excludes statutory charges (STT/CTT, exchange transaction fees, SEBI fees, GST, stamp duty), which apply at every broker. Verify current schedules on each official pricing page before opening an account.
Comparison guides
- Best stock brokers in India
The full comparison: pricing, platforms, APIs and reported execution speed across 16 brokers.
- Fastest broker in India (execution speeds)
Only brokers with a verifiable execution-speed figure - from the independent AlgoTest Broker Speedtest, plus Arrow’s self-reported figure. Brokers without one are left off.
- Lowest brokerage brokers
Delivery, intraday and F&O charges for every tracked broker, from official pricing pages.
- Best trading APIs
Every broker with a documented public API, with pricing and official documentation links.
- Best brokers for algo trading
APIs, algo-platform support and execution data for systematic traders.
- Best brokers for active traders
Costs and tooling weighed for high-frequency discretionary trading.
- Broker comparisons (head-to-head)
Every broker compared pairwise: Zerodha vs Upstox, Groww vs Dhan, and 120 more — from official published data.
- Brokerage calculators
Estimate per-order delivery, intraday and F&O charges for every broker we track — from published pricing only.
Broker profiles
- 5paisa
Discount broker
- Alice Blue
Discount broker
- Angel One
Discount broker (full-service heritage)
- Arrow
Discount broker (low-latency)
- Dhan
Discount broker
- Fyers
Discount broker
- Groww
Discount broker
- ICICI Direct
Full-service broker (bank-backed)
- IIFL Securities
Full-service broker
- Kotak Neo (Kotak Securities)
Full-service broker (bank-backed)
- Paytm Money
Discount broker
- Pocketful
Discount broker
- Sahi
Discount broker
- Shoonya (Finvasia)
Discount broker (zero-brokerage)
- Upstox
Discount broker
- Zerodha
Discount broker
Indian Broker Test is an information publication, not investment advice. Brokerage figures exclude statutory charges. Always verify current pricing on the broker's official website - schedules change without notice.