Stocks

Quick answer: Among the brokers reviewed, Flattrade has the lowest published headline brokerage: ₹0 for equity delivery, intraday, futures and options. Shoonya charges ₹0 for delivery and up to ₹5 per executed order in key active-trading segments. m.Stock uses ₹10 per order. The best stock broker with low brokerage depends on how often you trade and which charges matter to you.

Pricing checked: September 8, 2026. Broker tariffs can change. Always verify the latest official pricing page before opening or funding an account.

Introduction

A ₹20 brokerage charge looks small. Place 200 executed orders a month, however and brokerage alone can reach ₹48,000 a year. That money could otherwise stay in your trading or investment account.

This is why choosing the best stock broker with low brokerage is about more than a “zero brokerage” headline. You need to compare brokerage, DP charges, AMC, account-opening fees, MTF interest and service charges. The cheapest broker is the one that fits your actual trading pattern.

Quick Comparison: Which Broker Costs Less?

Sources (official pricing pages, checked September 8, 2026): Flattrade · Shoonya · m.Stock · Dhan · Zerodha · Groww · Angel One.

For someone comparing the best stock broker with low brokerage, this table gives the fastest starting point. Total cost can still change after DP charges, taxes, exchange charges and optional services are added.

How We Ranked the Brokers

We used a cost-first method. We reviewed publicly available pricing pages, tariff schedules and account-charge information published by the brokers.

We checked equity delivery brokerage, intraday brokerage, futures trading charges, options trading charges, demat account charges, DP charges, account maintenance charges (AMC), account-opening charges and MTF or service charges where relevant.

We did not independently test app stability, customer support or execution quality. Those factors matter but they should not be presented as verified findings without testing.

The Indian securities market is regulated by the Securities and Exchange Board of India (SEBI). Important entities include the National Stock Exchange (NSE), BSE, Central Depository Services Limited (CDSL) and National Securities Depository Limited (NSDL). Always confirm a broker's registration and exchange membership before opening an account.

Best Low Brokerage Brokers in India

1. Flattrade

Flattrade publishes NIL brokerage for equity delivery, intraday, futures and options. It also lists NIL broking AMC and DP AMC. Other charges include a ₹200 + GST trading-account opening fee, ₹20 + GST DP debit charge and listed call-and-trade, RMS and MTF charges.

Best for: Traders who put brokerage cost first.

Not ideal for: Users who want to choose mainly on research tools, support or platform experience without comparing those features separately.

For pure execution cost, Flattrade is a strong candidate for the best stock broker with low brokerage among the brokers reviewed.

2. Shoonya

Shoonya publishes ₹0 equity delivery, ₹5 or 0.03% whichever is lower for intraday and futures and ₹5 per executed options order. It also lists ₹0 account opening, ₹0 AMC and ₹9 + GST DP charges per scrip.

Best for: Active traders who want brokerage below the common ₹20-per-order level.

Not ideal for: Users who have not compared its platform, tools and support with their own requirements.

Shoonya can be considered when looking for the best stock broker with low brokerage for frequent trading.

3. m.Stock

m.Stock publishes ₹10 per executed order for equity delivery, intraday, futures and options. Its pricing page lists ₹18 + GST DP charges for sell transactions.

Best for: Users who want simple, predictable flat pricing.

Not ideal for: Traders whose only goal is the lowest possible F&O brokerage.

m.Stock is a useful best stock broker with low brokerage option for users who prefer easy cost calculations.

4. Dhan

Dhan publishes ₹0 equity-delivery brokerage, ₹20 or 0.03% whichever is lower for intraday and ₹20 per executed equity and commodity F&O order. For individuals and HUFs, it lists ₹0 account opening, ₹0 AMC and ₹12.50 + GST DP charges per instruction/ISIN.

Best for: Long-term investors who want zero delivery brokerage and low fixed account costs.

Not ideal for: F&O traders choosing only on per-order brokerage, because lower-cost options exist in this comparison.

Dhan is relevant when comparing the best stock broker with low brokerage for delivery investing.

5. Zerodha

Zerodha publishes ₹0 equity-delivery brokerage. Intraday and futures cost ₹20 or 0.03% per executed order, whichever is lower, while options cost ₹20 per executed order. AMC is free for the first year for resident individual accounts opened on or after June 1, 2026, normal or BSDA charges can apply later.

Best for: Investors who want zero delivery brokerage with predictable active-trading charges.

Not ideal for: Traders whose only priority is the lowest F&O brokerage.

Zerodha remains a common best stock broker with low brokerage comparison choice because its pricing is easy to understand.

6. Upstox

Upstox publishes ₹20 per equity-delivery order, ₹20 or 0.1% whichever is lower for intraday, ₹20 or 0.05% whichever is lower for equity futures and ₹20 per options order. Its pricing page lists no AMC for the first year and ₹20 DP charges per scrip per day on delivery sells.

Best for: Users comfortable with capped ₹20 brokerage.

Not ideal for: Users looking for the lowest headline brokerage in this list.

Upstox is worth comparing, although it is not the best stock broker with low brokerage on headline execution fees among the reviewed brokers.

Lowest Brokerage Charges for F&O

The lowest brokerage charges for F&O matter most to active traders because every executed order adds to yearly cost.

If you place 50 options orders each month, ₹20 brokerage equals ₹12,000 a year. At ₹5 per order, the same order count equals ₹3,000. The difference is ₹9,000 a year before statutory and exchange charges.

A frequent derivatives trader searching for the best stock broker with low brokerage should compare order frequency first, then check RMS, platform and service costs.

From April 1, 2026, STT on equity futures is 0.05% on the sell side and STT on equity options sold is 0.15% of premium. These statutory charges apply even when brokerage is zero.

Lowest Share Brokerage Fees

The lowest share brokerage fees are especially important for investors who buy stocks or ETFs for delivery.

Flattrade, Shoonya, Dhan and Zerodha publish ₹0 equity-delivery brokerage. m.Stock charges ₹10 per delivery order. Upstox charges ₹20 per delivery order, while Groww charges ₹20 or 0.1% per executed equity order, whichever is lower, subject to its published minimum rules.

A long-term investor searching for the best stock broker with low brokerage should not stop at delivery brokerage. DP charges and AMC can affect the real cost when shares are sold or the account is maintained over time.

Brokerage Firms with Lowest Fees

The brokerage firms with lowest fees are different for different users. A discount broker with ₹0 brokerage may still charge for demat debits, pledges, MTF, RMS square-off or assisted trades.

That is why a zero brokerage account does not automatically mean zero trading cost. Compare broker-controlled charges together instead of reading one headline number.

Zerodha vs Dhan vs Groww vs Flattrade

*Groww applies its published minimum brokerage rules on equity orders.

This comparison helps narrow the best stock broker with low brokerage based on the cost you are most likely to pay.

Other Popular Brokers Worth Comparing

1. Groww

Groww currently publishes ₹0 trading and demat account opening, ₹0 AMC, equity brokerage of ₹20 or 0.1% per executed order whichever is lower with a minimum ₹5 and ₹20 per F&O order.

2. Angel One

Angel One's current standard pricing lists equity delivery at ₹20 or 0.1% per executed order, whichever is lower, with a ₹5 minimum. Its standard F&O pricing is ₹20 per executed order after applicable introductory offers.

3. ICICI Direct and HDFC Securities

ICICI Direct and HDFC Securities are useful comparisons for users who also value banking integration, research or service-led plans. Their pricing can depend on the selected plan, so compare the exact tariff rather than assuming one standard rate. ICICI Direct currently offers multiple pricing plans, while HDFC's securities offerings also use plan-specific pricing.

A full-service broker or bank-linked platform may offer a different service mix from a discount stock broker. Cost should be compared together with the services you will actually use.

₹0 Brokerage Does Not Always Mean Cheapest

Suppose Broker A has ₹0 brokerage, a ₹20 DP charge per sell and ₹300 AMC a year. Broker B has ₹10 brokerage per order, a ₹9 DP charge per sell and ₹0 AMC.

If an investor makes 12 buys and 12 sells a year, Broker A costs ₹540 from these three items. Broker B costs ₹348. This simplified example excludes GST, taxes and exchange fees.

So the best stock broker with low brokerage is not automatically the broker with a ₹0 banner. Your order count and account usage decide the real cost.

How to Choose the Best Low Brokerage Broker Based on Your Trading Style

For a beginner, the best stock broker with low brokerage should have clear charges and an account structure you can understand. For a high-frequency trader, per-order brokerage may matter much more.

Brokerage Is Not Everything

Before choosing a broker, also check:

• App stability.
  
  
• Charting tools.
  
  
• Order types.
  
  
• Watchlists.
  
  
• Reports.
  
  
• Customer support.
  
  
• Available market segments.

These features were not independently tested for this article. Check recent platform information and try the product yourself where possible.

The best stock broker with low brokerage should be affordable without making you compromise on tools you actually need.

What to Check Before Opening an Account

1. Verify the broker's SEBI registration and NSE/BSE membership.

2. Read the latest official tariff.

3. Compare delivery, intraday and F&O brokerage.

4. Check DP and demat account charges.

5. Check trading account charges and AMC.

6. Check MTF interest if you borrow for trades.

7. Look for pledge, call-and-trade and RMS fees.

8. Use a brokerage calculator with your normal order size.

9. Check the app and support before funding the account.

This decision process makes it easier to identify the best stock broker with low brokerage for your own needs instead of copying someone else's broker choice.

How to Check the Latest Brokerage Charges

Broker pricing changes. Visit the broker's official pricing page, read the latest tariff sheet, check whether an offer is temporary, review AMC and DP charges and check F&O and MTF fees separately.

This keeps the comparison useful even after specific tariff numbers change.

Conclusion

Among the brokers reviewed, Flattrade currently has the lowest published headline brokerage at ₹0 across equity delivery, intraday, futures and options. Shoonya offers low ₹5-level brokerage in key trading segments, while m.Stock uses ₹10-per-order pricing. Dhan and Zerodha publish zero equity-delivery brokerage.

There is no universal best stock broker with low brokerage for every investor. Long-term investors, intraday traders, options traders and MTF users face different costs. Compare the latest tariff with your own trading pattern before opening an account.

Frequently Asked Questions

Q1: Which broker has zero brokerage in India?

Ans: Among the brokers reviewed, Flattrade publishes ₹0 brokerage for equity delivery, intraday, equity futures and equity options. Other brokers may offer zero brokerage only in selected segments. Statutory, exchange and service charges can still apply.

Q2: Which broker has the lowest brokerage charges for F&O?

Ans: Among the reviewed brokers, Flattrade publishes ₹0 equity F&O brokerage. Shoonya charges up to ₹5 per executed order, m.Stock ₹10, while several large discount brokers charge up to ₹20 per F&O order.

Q3: Which broker has the lowest share brokerage fees?

Ans: Flattrade, Shoonya, Dhan and Zerodha currently publish ₹0 equity-delivery brokerage. Compare DP charges and AMC before deciding which is cheaper for your use.

Q4: Is zero brokerage really free?

Ans: No. Zero brokerage removes the broker's normal execution fee for the covered segment. STT, GST, exchange transaction charges, SEBI fees, stamp duty, DP charges and other applicable costs may remain.

Q5: Which low-brokerage broker is suitable for beginners?

Ans: Beginners should compare transparent pricing, AMC, DP charges, account structure, platform usability and support. The cheapest headline fee is not always the easiest account to use.

Q6: Is the cheapest stock broker always the best?

Ans: No. Brokerage is only one part of the decision. Platform fit, DP charges, AMC, MTF costs, service fees and available products can change the real value.

Editorial note: Add the real author's name, genuine qualifications, reviewer details and affiliate disclosure before publication. Do not invent credentials.

Financial disclosure: This article is for educational and comparison purposes only. It is not personalized investment, tax or legal advice. Broker fees, taxes and product terms can change. Verify current information with official broker and regulatory sources before making a financial decision.