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

Best brokers

Best Brokers for Beginners in India (2026)

For first-time investors: zero AMC plus mutual funds alongside stocks, so you can start small without a yearly fee.

By the Indian Broker Test editorial desk · Published 8 July 2026 · Data last reviewed 14 November 2026 · Independent

Brokers that qualify

  • Alice Blue

    Price-sensitive algo traders exploring beyond the biggest names.

    Delivery: ₹20 or 2.5% per order (whichever is lower)
    Intraday: ₹20 or 0.05% per order (whichever is lower)
    AMC: ₹0 (zero AMC)

    ✓ Zero AMC✓ Mutual fundsFree APIMCX commodityIPO

    Charges · Calculator

  • Groww

    Beginners and long-term investors who want one simple app for stocks and mutual funds.

    Delivery: ₹20 or 0.1% per order (whichever is lower), minimum ₹5
    Intraday: ₹20 or 0.1% per order (whichever is lower), minimum ₹5
    AMC: ₹0

    ✓ Zero AMC✓ Mutual fundsIPOPublished speed

    Charges · Calculator

  • Paytm Money

    Paytm users who want investing and broking inside one ecosystem.

    Delivery: ₹20 per order (accounts opened on or after 25 Aug 2023)
    Intraday: ₹20 per order (flat)
    AMC: ₹0 demat AMC (per official site)

    ✓ Zero AMC✓ Mutual fundsIPO

    Charges · Calculator

  • Pocketful

    Algo-curious traders willing to try a newer platform.

    Delivery: ₹0 (free; ₹0.01 minimum per order)
    Intraday: ₹20 or 0.03% per order (whichever is lower)
    AMC: ₹0

    ✓ Zero AMC✓ Mutual fundsFree deliveryFree APIIPOPublished speed

    Charges · Calculator

  • Shoonya (Finvasia)

    High-frequency, cost-obsessed traders who accept a smaller platform.

    Delivery: ₹0 (free equity delivery)
    Intraday: ₹5 or 0.03% per order (whichever is lower)
    AMC: ₹0 (individuals; ₹900 for corporate, trust and LLP accounts)

    ✓ Zero AMC✓ Mutual fundsFree deliveryFree APIMCX commodityPublished speed

    Charges · Calculator

Next step: narrow it down by cost on the cost leaderboards, or see every feature side by side in the feature matrix.

More "best broker" lists

Frequently asked questions

Which brokers are best for beginners in India?

On published data at our last review, 5 brokers qualify: Alice Blue, Groww, Paytm Money, Pocketful, Shoonya (Finvasia). They are listed alphabetically because each meets the same published criteria.

How did you decide which brokers qualify?

A broker qualifies only if its official published data shows: Zero AMC + Mutual funds. We don't accept payment for listings and we don't use opinion scores.

Why is a broker I use not on this list?

Either its published pricing or feature list did not show the required feature at our last review, or the feature depends on a plan or condition. Check the broker’s profile page for the exact wording.

How do I choose between the brokers on this list?

Compare total cost for the way you trade on our cost leaderboards, then use head-to-head comparisons for the two or three that fit best.

Sources

  1. Alice Blue - official website - https://aliceblueonline.com
  2. Groww - official website - https://groww.in
  3. Paytm Money - official website - https://www.paytmmoney.com
  4. Pocketful - official website - https://www.pocketful.in
  5. Shoonya (Finvasia) - official website - https://shoonya.com