Cost comparison
Lowest Brokerage Brokers in India (2026): Delivery, Intraday & F&O Charges Compared
Headline brokerage from official pricing pages, listed alphabetically - with plan-based pricing linked to its official rate card instead of squeezed into a fake single number.
Published brokerage by broker (alphabetical)
| S.No | Broker | Delivery charge | Intraday | F&O | Source |
|---|---|---|---|---|---|
| 1 | 5paisa | ₹20 per order (flat) | ₹20 per order (flat) | ₹20 per order (flat) | Official |
| 2 | 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 | Official |
| 3 | 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) | Official |
| 4 | 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) | Official |
| 5 | Dhan | ₹0 (free) | ₹20 or 0.03% per order (whichever is lower) | ₹20 per order (flat) | Official |
| 6 | Fyers | ₹0 (free) | ₹20 or 0.03% per order (whichever is lower) | ₹20 per order (flat) | Official |
| 7 | 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) | Official |
| 8 | 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 | Official |
| 9 | 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) | Official |
| 10 | 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 | Official |
| 11 | Paytm Money | ₹20 per order - see official pricing for current schedule | ₹20 per order (flat) | ₹20 per order (flat) | Official |
| 12 | Pocketful | ₹0 (free; ₹0.01 minimum per order) | ₹20 or 0.03% per order (whichever is lower) | ₹20 per order (flat) | Official |
| 13 | Sahi | ₹10 or 0.05% per order (whichever is lower) | ₹10 or 0.05% per order (whichever is lower) | ₹10 per order (flat) | Official |
| 14 | Shoonya (Finvasia) | ₹0 (zero brokerage, per official site) | ₹0 (zero brokerage, per official site) | ₹0 (zero brokerage, per official site) | Official |
| 15 | Upstox | ₹20 or 2.5% per order (whichever is lower) | ₹20 or 0.05% per order (whichever is lower) | ₹20 per order (flat) | Official |
| 16 | Zerodha | ₹0 (free) | ₹20 or 0.03% per order (whichever is lower) | ₹20 per order (flat, options) | Official |
Brokers are listed alphabetically, not ranked. Cells showing Not Disclosed have plan-based, variable or unpublished pricing - see the official rate card. All figures exclude statutory charges. Estimate per-order charges with our brokerage calculators, or compare any two brokers head-to-head on the comparison hub.
What the published charges show
Dhan publishes the lowest headline pricing, with zero brokerage across segments. A cluster of flat-fee brokers - Fyers, Pocketful, Arrow, Shoonya (Finvasia), Zerodha - also charge nothing on delivery while capping intraday and F&O at ₹20 or less per order. The remaining flat-fee brokers charge up to ₹20 on delivery too. For the plan-based brokers, cost depends entirely on the plan you pick and your volumes, which is why their cells show Not Disclosed rather than a guessed number.
Charges beyond brokerage
Brokerage is only one line on a contract note. Every trade also carries securities transaction tax, exchange transaction charges, SEBI turnover fees, GST, and stamp duty; accounts may carry AMC, and services like call-and-trade, physical statements or payment gateways can cost extra. On a delivery trade at a zero-brokerage broker, statutory charges are effectively your entire cost - identical no matter which broker you use.
Conclusion
For pure cost, the published record is unambiguous: zero-brokerage and free-delivery flat-fee brokers win, and among them the differences come down to AMC, API pricing and platform preference rather than brokerage. Confirm the current schedule on the official page before opening an account - pricing changes are frequent and rarely announced loudly.
Frequently asked questions
Which broker has the lowest brokerage in India?
On published headline pricing, Dhan is the cheapest, advertising zero brokerage across segments - statutory charges still apply. Several brokers (Zerodha, Dhan, Fyers) offer free equity delivery with flat ₹20-or-lower derivatives pricing. Brokers with plan-based pricing cannot be reduced to a single number and are shown as Not Disclosed with links to their official rate cards.
Is zero brokerage really free trading?
No. Zero brokerage means the broker charges no commission, but every trade still incurs statutory and exchange charges - STT/CTT, exchange transaction fees, SEBI fees, GST and stamp duty. Zero-brokerage brokers earn revenue from other sources such as float income and value-added services.
Why do some brokers show Not Disclosed instead of a charge?
Brokers with plan-based or variable pricing (for example bank-backed full-service brokers) do not publish a single flat figure that can be fairly compared with flat-fee brokers, so those cells show Not Disclosed with a link to the official rate card rather than a guessed number.
Do lower charges mean a better broker?
Not necessarily. Execution quality, platform stability, margin policies and support all affect real trading outcomes. For small, infrequent delivery investments, however, cost differences compound and are usually the dominant factor.
Sources
- Zerodha - official pricing - https://zerodha.com/charges/
- Upstox - official pricing - https://upstox.com/brokerage-charges/
- Groww - official pricing - https://groww.in/pricing
- Angel One - official pricing - https://www.angelone.in/pricing
- Dhan - official pricing - https://dhan.co/pricing/
- Fyers - official pricing - https://fyers.in/pricing/
- ICICI Direct - official pricing - https://www.icicidirect.com/brokerage
- Kotak Neo (Kotak Securities) - official pricing - https://www.kotaksecurities.com/pricing/
- 5paisa - official pricing - https://www.5paisa.com/pricing
- Alice Blue - official pricing - https://aliceblueonline.com/pricing/
- Paytm Money - official pricing - https://www.paytmmoney.com/pricing
- Shoonya (Finvasia) - official pricing - https://shoonya.com/pricing
- Pocketful - official pricing - https://www.pocketful.in/pricing
- Arrow - official pricing - https://arrow.trade/pricing
- IIFL Securities - official pricing - https://www.iiflcapital.com/brokerage-charges
- Sahi - official pricing - https://www.sahi.com/pricing