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) | ₹20 or 0.05% per order (whichever is lower) | ₹20 per order (options); ₹20 or 0.05% per order for futures (whichever is lower) | Official |
| 3 | 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) | 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 | ₹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) | Official |
| 7 | 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) | Official |
| 8 | 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 | Official |
| 9 | 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) | Official |
| 10 | 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) | Official |
| 11 | Paytm Money | ₹20 per order (accounts opened on or after 25 Aug 2023) | ₹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 (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) | Official |
| 15 | 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) | Official |
| 16 | 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) | 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
Zerodha, Dhan, Shoonya (Finvasia), Pocketful, Arrow charge nothing on equity delivery while capping intraday and F&O at ₹20 or less per order; Shoonya goes further with a ₹5 cap. The remaining flat-fee brokers charge up to ₹20 on delivery too, and some add a ₹5 minimum per order. 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?
No broker we track charges zero brokerage on every segment. Zerodha, Dhan, Shoonya (Finvasia), Pocketful, Arrow publish free equity delivery, and Shoonya caps intraday and F&O at ₹5 per order. Which broker is cheapest overall depends on how you trade - see our cost leaderboards, which compute a full year of trading for each style.
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.kotakneo.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/stocks/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