Independent. No broker pays us, and every number comes from a published source.

Same trade, 16 brokers, very different bills.

We put one trade through every Indian broker's published rate card, taxes included, and line up what you'd actually pay. No sponsors, no referral links.

Price my own trade Cheapest broker for how I trade

Intraday: ₹1 lakh buy & sell. Total cost of buying and selling, including STT, exchange fees, GST and stamp duty.
  1. Shoonya ₹47.57
  2. Kotak Neo ₹59.37
  3. Sahi ₹59.37
  4. 5paisa ₹82.97
  5. Alice Blue ₹82.97
  6. Angel One ₹82.97
  7. Arrow ₹82.97
  8. Dhan ₹82.97
  9. Fyers ₹82.97
  10. Groww ₹82.97
  11. Paytm Money ₹82.97
  12. Pocketful ₹82.97
  13. Upstox ₹82.97
  14. Zerodha ₹82.97
  15. IIFL Securities ₹95.06
  16. ICICI Direct ₹104.55

Shoonya (Finvasia) charges ₹47.57. ICICI Direct charges ₹104.55 for the same trade, ₹56.98 more.

Options: premium ₹100 × 75. Total cost of buying and selling, including STT, exchange fees, GST and stamp duty.
  1. Shoonya ₹31.03
  2. Kotak Neo ₹42.83
  3. Sahi ₹42.83
  4. 5paisa ₹66.43
  5. Alice Blue ₹66.43
  6. Angel One ₹66.43
  7. Arrow ₹66.43
  8. Dhan ₹66.43
  9. Fyers ₹66.43
  10. Groww ₹66.43
  11. Paytm Money ₹66.43
  12. Pocketful ₹66.43
  13. Upstox ₹66.43
  14. Zerodha ₹66.43

Shoonya (Finvasia) charges ₹31.03. 11 brokers charge ₹66.43 for the same trade, ₹35.4 more. 2 brokers not shown: pricing not published in a form we can calculate.

Futures: ₹24,000 × 75. Total cost of buying and selling, including STT, exchange fees, GST and stamp duty.
  1. Shoonya ₹1,031.75
  2. Kotak Neo ₹1,043.55
  3. Sahi ₹1,043.55
  4. 5paisa ₹1,067.15
  5. Alice Blue ₹1,067.15
  6. Angel One ₹1,067.15
  7. Arrow ₹1,067.15
  8. Dhan ₹1,067.15
  9. Fyers ₹1,067.15
  10. Groww ₹1,067.15
  11. Paytm Money ₹1,067.15
  12. Pocketful ₹1,067.15
  13. Upstox ₹1,067.15
  14. Zerodha ₹1,067.15
  15. IIFL Securities ₹2,083.06
  16. ICICI Direct ₹2,253.16

Shoonya (Finvasia) charges ₹1,031.75. ICICI Direct charges ₹2,253.16 for the same trade, ₹1,221.41 more.

Delivery: ₹50,000 buy & sell. Total cost of buying and selling, including STT, exchange fees, GST and stamp duty.
  1. Arrow ₹131.78
  2. Dhan ₹131.78
  3. Pocketful ₹131.78
  4. Shoonya ₹131.78
  5. Zerodha ₹131.78
  6. Sahi ₹155.38
  7. 5paisa ₹178.98
  8. Alice Blue ₹178.98
  9. Angel One ₹178.98
  10. Fyers ₹178.98
  11. Groww ₹178.98
  12. Paytm Money ₹178.98
  13. Upstox ₹178.98
  14. Kotak Neo ₹379.58
  15. IIFL Securities ₹441.53
  16. ICICI Direct ₹491.09

Arrow and 4 others charge ₹131.78. ICICI Direct charges ₹491.09 for the same trade, ₹359.31 more.

Who's cheapest for the way you trade

A full year of trading, run through every broker. The gap is what picking the wrong one costs you.

If you areCheapestPer yearWrong pick costs
Intraday traders Shoonya (Finvasia) ₹56,868 +₹68,136
Options traders Shoonya (Finvasia) ₹21,823 +₹25,488
Futures traders Shoonya (Finvasia) ₹4,94,861 +₹5,86,027
Long-term investors 5-way tie: Arrow, Dhan, Pocketful and more ₹3,163 +₹8,623
Beginners (small orders) 5-way tie: Arrow, Dhan, Pocketful and more ₹321 +₹566
Swing traders 5-way tie: Arrow, Dhan, Pocketful and more ₹24,093 +₹69,466
High-volume traders Shoonya (Finvasia) ₹7,65,610 +₹1,86,912

Fastest published execution: Arrow, Sahi, Fyers, all on figures the brokers report themselves. See how the speed figures compare.

Head to head

All 120 comparisons

Pick by what you need

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New to investing

All 14 guides or the 41-term glossary

All 16 brokers at a glance

Published pricing, reviewed 14 November 2026
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 Xstream API ₹25 per month + GST (per official pricing; BSDA conditions apply) Official
Alice Blue ₹20 or 2.5% per order (whichever is lower) ₹20 or 0.05% per order (whichever is lower) ₹20 per order (options); ₹20 or 0.05% per order for futures (whichever is lower) Not Disclosed ANT API ₹0 (zero AMC) Official
Angel One ₹20 or 0.1% per order (whichever is lower), minimum ₹5 ₹20 or 0.1% per order (whichever is lower), minimum ₹5 ₹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 (individuals & HUFs) Official
Fyers ₹20 or 0.3% per order (whichever is lower) ₹20 or 0.03% per order (whichever is lower) ₹20 per order (options); ₹20 or 0.03% per order for futures (whichever is lower) p99 < 7 ms (processing, self-reported) Fyers API ₹0 (zero AMC) Official
Groww ₹20 or 0.1% per order (whichever is lower), minimum ₹5 ₹20 or 0.1% per order (whichever is lower), minimum ₹5 ₹20 per order (flat) < 50 ms (self-reported) Groww Trade API ₹0 Official
ICICI Direct 0.29% per order on the default MoneySaver plan (lower on prepaid Prime plans) 0.029% per order on MoneySaver; ₹20 per order with an iValue subscription MoneySaver: futures 0.029%, options ₹49 per lot; ₹20 per order with iValue Not Disclosed Breeze API ₹700 per year (₹300 for iVALUE subscribers) Official
IIFL Securities 0.25% per order (Investor Plan - Online Plus, per official rate card) 0.025% per order (Investor Plan - Online Plus) Futures 0.025% per order; options ₹25 per lot (Investor Plan - Online Plus) ≈ 95 ms (median) IIFL Securities API Free first year, then ₹250 + GST per year Official
Kotak Neo (Kotak Securities) 0.20% per order (Trade Free); 0.10% on Trade Free Pro (₹249/month) ₹10 or 0.05% per order (whichever is lower) ₹10 per order (flat) ≈ 80 ms (median) Kotak Neo Trade API Not Disclosed Official
Paytm Money ₹20 per order (accounts opened on or after 25 Aug 2023) ₹20 per order (flat) ₹20 per order (flat) Not Disclosed Paytm Money API ₹0 demat AMC (per official site) 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 (free equity delivery) ₹5 or 0.03% per order (whichever is lower) ₹5 per order (options); ₹5 or 0.03% per order for futures (whichever is lower) ≈ 140 ms (median) Shoonya API ₹0 (individuals; ₹900 for corporate, trust and LLP accounts) Official
Upstox ₹20 per order (flat) ₹20 or 0.1% per order (whichever is lower) ₹20 per order (options); ₹20 or 0.05% per order for futures (whichever is lower) ≈ 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 (options); ₹20 or 0.03% per order for futures (whichever is lower) ≈ 80 ms (median) Kite Connect Free first year, then ₹300 + 18% GST per year, billed quarterly (non-BSDA; ₹0 for BSDA holdings under ₹4 lakh) 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.

Frequently asked questions

What is Indian Broker Test?

An independent comparison site for Indian stock brokers. We compare 16 brokers on brokerage, charges, features, APIs and published execution speed, using only data the brokers or reputable third parties publish.

Which is the cheapest stock broker in India?

It depends on how you trade. For intraday traders, Shoonya (Finvasia) comes out cheapest on our leaderboard; for long-term investors several free-delivery brokers tie. See the leaderboards for each trading style.

Are the rankings paid?

No. We accept no sponsorship, affiliate or referral fees. Cost rankings are computed from published rate cards, and anything unpublished is shown as Not Disclosed.

How do I calculate brokerage for my trade?

Use our compare-all brokerage calculator: enter one trade and see the full cost, including STT, GST and stamp duty, at all 16 brokers, ranked.

How often is the data updated?

Broker data was last reviewed on 14 November 2026. Each page shows its review date, and we re-check official pricing pages before every update.

Indian Broker Test is an information publication, not investment advice. Always verify current pricing on the broker's official website. Schedules change without notice.