COMPARISON OF BROKERS

Stock Brokers

Discount Broker
Equity
Commodity
Currency
Futures
Options
Options
Account Opening Charge
Equity (for trades on Equity, F&O, and Currency)
200
Account Opening Charge
Equity (for trades on Equity, F&O, and Currency) and Commodity (MCX)
300
Account Maintenance Charge
300
Equity Delivery Brokerage
Zero
Equity Intraday Brokerage
0.03% or 20/ executed order whichever is lower
More

Zerodha

Discount Broker
Depository: CDSL
India’s first discounted stockbroker with advanced in-house technology and largest active client base.

Brokerage Plans (Single Plan)

1 or more plans offered by this broker, which outlines, Account opening and maintenance fees charged by this broker, Brokerage charges and Margins provided. Use plan switcher to see the difference in offerings, if multiple plans are available.

Charges

Account Opening Charge
Equity (for trades on Equity, F&O, and Currency)
200
Account Opening Charge
Equity (for trades on Equity, F&O, and Currency) and Commodity (MCX)
300
Account Maintenance Charge
300
Call & Trade Charges
50

Brokerage

Equity Delivery Brokerage
Zero
Equity Intraday Brokerage
0.03% or 20/ executed order whichever is lower
Equity Futures Brokerage
0.03% or 20/ executed order whichever is lower
Equity Options Brokerage
Flat 20 per executed order
Currency Futures Brokerage
0.03% or 20/ executed order whichever is lower
Currency Options Brokerage
0.03% or 20/ executed order whichever is lower
Commodity Futures Brokerage
0.03% or 20/ executed order whichever is lower
Commodity Options Brokerage
0.03% or 20/ executed order whichever is lower

Charges Details

For Equity

CHARGES DELIVERY INTRADAY FUTURES OPTIONS
Transaction Charges NSE: 0.00345%
BSE: 0.00345% 		NSE: 0.00345%
BSE: 0.00345% 		NSE: 0.002% NSE: 0.053% (on premium)
GST 18% on Brokerage + Transaction 18% on Brokerage + Transaction 18% on Brokerage + Transaction 18% on Brokerage + Transaction
STT 0.1% on buy & sell 0.025% on the sell-side 0.01% on sell-side 0.05% on sell-side (on premium)
SEBI Charges 10 per crore 10 per crore 10 per crore 10 per crore

For Commodity

CHARGES FUTURES OPTIONS
Transaction Charges Group A
Exchange txn charge: 0.0026%
Group B:
Exchange txn charge:
CASTORSEED - 0.0005%
KAPAS - 0.0026%
PEPPER - 0.00005%
RBDPMOLEIN - 0.001% 		Exchange txn charge: 0.05%
GST 18% on Brokerage + Transaction 18% on Brokerage + Transaction
STT Sell-side, 0.01% for Non Agri Sell-side, 0.05%
SEBI Charges Agri -  1 per crore; Non-Agri  10  per crore 10 per crore

For Currency

CHARGES FUTURES OPTIONS
Transaction Charges 0.0009% - NSE
0.00022% - BSE 		NSE:
Exchange txn charge: 0.035%
BSE:
Exchange txn charge: 0.001%
GST 18% on Brokerage + Transaction 18% on Brokerage + Transaction
STT - -
SEBI Charges 10 per crore 10 per crore

Trading Platforms

Set of software & applications offered by the broker for executing buy and sell orders online. These are names of their portals and mobile apps, for full desc- Full Platform Details.
Kite Web
Kite Mobile Application
Coin

Pros

Advantages and Strengths of this broker.

1.
Zerodha is a self-clearing broker which means that they don't recover clearing charges from customers.
2.
Provides free stock market lessons and financial education for everyone.
3.
They provide only Direct Plans on Mutual Fund investments.
4.
Bonds & G-securities can also be invested through Golden Pi.

Cons

Disadvantages of this broker that it needs to improve upon.

1.
Zerodha’s call & trade charges are more as compared to other brokers.
2.
Response from customer support can be delayed.
3.
Due to a huge customer base, software glitches happen at certain times.
4.
For every investment instrument, they have a different platform like Kite for shares, Coin for mutual funds, Golden Pi for bonds etc.
5.
NRI Account opening can be done only through an offline process.
Full Service Broker
Equity
Commodity
Currency
Futures
Options
Account Opening Charge
Free
Equity Delivery Brokerage
Zero
Equity Intraday Brokerage
20/ exeuted order or 0.25% whichever is lower
Account Maintenance Charge
Zero for one year
After this Non-BSDA Clients 20 + Tax / Month
For BSDA (Basic Services Demat Account) Clients:
- Holding Value Less Than 50,000: NIL
- Holding Value Between 50,000 To 2,00,000 : 100 + Tax / Year
More

Angel One

Full Service Broker
Depository: CDSL
A full-service broker in India offering a wide range of investment and trading services at the same cost as that of discounted brokers.

Brokerage Plans (Single Plan)

1 or more plans offered by this broker, which outlines, Account opening and maintenance fees charged by this broker, Brokerage charges and Margins provided. Use plan switcher to see the difference in offerings, if multiple plans are available.

Charges

Account Opening Charge
Free
Account Maintenance Charge
Zero for one year
After this Non-BSDA Clients 20 + Tax / Month
For BSDA (Basic Services Demat Account) Clients:
- Holding Value Less Than 50,000: NIL
- Holding Value Between 50,000 To 2,00,000 : 100 + Tax / Year
Call & Trade Charges
20

Brokerage

Equity Delivery Brokerage
Zero
Equity Intraday Brokerage
20/ executed order or 0.25% whichever is lower
Equity Futures Brokerage
20/ executed order or 0.25% whichever is lower
Equity Options Brokerage
20/ executed order or 0.25% whichever is lower
Currency Futures Brokerage
20/ executed order or 0.25% whichever is lower
Currency Options Brokerage
20/ executed order or 0.25% whichever is lower
Commodity Futures Brokerage
20/ executed order or 0.25% whichever is lower
Commodity Options Brokerage
20/ executed order or 0.25% whichever is lower

Charges Details

For Equity

CHARGES DELIVERY INTRADAY FUTURES OPTIONS
Transaction Charges NSE: 0.00335% On Turnover
Value (Buy & Sell)
# NSE: 0.00275% On Turnover Value (Buy & Sell)
BSE: Charges Vary As Per
The Scrip Group* 		NSE: 0.00335% On Turnover
Value (Buy & Sell)
# NSE: 0.00275% On Turnover Value (Buy & Sell)
BSE: Charges Vary As Per
The Scrip Group* 		NSE: 0.00195% On Total Turnover Value NSE: 0.053% On Premium Value
GST 18% (On Brokerage, DP, Transaction, SEBI Charges) 18% (On Brokerage, Transaction, SEBI Charges) 18% (On Brokerage, Transaction, SEBI Charges) 18% (On Brokerage, Transaction, SEBI Charges)
STT 0.1% On Both Buy & Sell. 0.025% Only On Sell. 0.01% Only On Sell. 0.05% Only On Sell (On Premium)
SEBI Charges 10 per crore 10 per crore 10 per crore 10 per crore

For Commodity

CHARGES FUTURES OPTIONS
Transaction Charges Non-Agri:
0.00210% On Turnover For A Category (Near & Next Month TO )
0.0013% On Turnover For A Category (FAR Month TO)
0.00175% On Turnover For B Category

Agri:
0.006% On Turnover For A Category
0.002% On Turnover For B Category
0.0001% On Turnover For C Category

Special Charges For Following Scrips:
0.0005% On Turnover For CASTOR SEED
0.0005% On Turnover For KAPAS
0.00005% On Turnover For PEPPER
0.001% On Turnover For RBDPMOLEIN		 0.05% On Premium Value
GST 18% (On Brokerage, Transaction Charges, Risk Management Fee, SEBI Charges) 18% (On Brokerage, SEBI Charges)
STT Sell-side, 0.01% for Non Agri Sell-side, 0.05%
SEBI Charges   10 per crore 10 per crore

For Currency

CHARGES FUTURES OPTIONS
Transaction Charges NSE: 0.0009% On Futures Turnover Value
BSE: 0.00022% On Futures Turnover Value		 NSE: 0.035 % And
BSE: 0.001% On Options Premium Value
GST 18% (On Brokerage, Transaction, SEBI Charges) 18% (On Brokerage, Transaction, SEBI Charges)
STT - -
SEBI Charges 10 per crore 10 per crore

Trading Platforms

Set of software & applications offered by the broker for executing buy and sell orders online. These are names of their portals and mobile apps, for full desc- Full Platform Details.
Angel Broking Application
Angel Broking Trade-Website
Angel Bee

Pros

Advantages and Strengths of this broker.

1.
Provides free equity delivery.
2.
Provides an option to invest in Corporate bonds.
3.
Provides event-based daily, weekly and monthly reports to facilitate informed decision making.
4.
Offers free investment advisory and research tools to the customers.
5.
Provides Full-service brokerage services at low brokerage fees.

Cons

Disadvantages of this broker that it needs to improve upon.

1.
One should not expect excellent customer support.
2.
The mobile interface is difficult to understand.
3.
Provides only regular Mutual Fund plans.
4.
Call & Trade is charged for an extra Rs 20 per executed order.
Discount Broker
Equity
Commodity
Currency
Futures
Options
Account Opening Charge
Free
Equity Delivery Brokerage
20/ Order
Equity Intraday Brokerage
20/ Order
Account Maintenance Charge
0 if your shares value is less than 50,000. If shares in your DP exceed 50,000 then 75/quarter is charged
More

5 paisa

Discount Broker
Depository: CDSL
5paisa a discount broker provides tools and features relevant to both traders and investors. One of the fastest growing discount brokers in India..

Brokerage Plans

1 or more plans offered by this broker, which outlines, Account opening and maintenance fees charged by this broker, Brokerage charges and Margins provided. Use plan switcher to see the difference in offerings, if multiple plans are available.

Charges

Account Opening Charge
Zero
Account Maintenance Charge
0 if your shares value is less than 50,000. If shares in your DP exceed 50,000 then 75/quarter is charged
Call & Trade Charges
100

Brokerage

Equity Delivery Brokerage
20/ order
Equity Intraday Brokerage
20/ order
Equity Futures Brokerage
20/ order
Equity Options Brokerage
20/ order
Currency Futures Brokerage
20/ order
Currency Options Brokerage
20/ order
Commodity Futures Brokerage
20/ order
Commodity Options Brokerage
20/ order

Charges Details

For Equity

CHARGES DELIVERY INTRADAY FUTURES OPTIONS
Transaction Charges NSE: 0.00345%
BSE: 0.00345%* 		NSE: 0.00345%
BSE: 0.00345%* 		0.0019%  0.05% (on premium)
STT 0.10% 0.025% 0.01% on sell-side 0.05% on sell-side
SEBI Charges 00.00010% 00.00010% 00.00010% 00.00010%

For Commodity

CHARGES FUTURES OPTIONS
Transaction Charges Grp A (28 Commodities) 0.0026%

Grp B (4 Commodities) BLACK PEPPER - 0.00005% BRASS - 0.0005% CASTORSEED - 0.0005% RBDPALMOLEIN - 0.001%		 Options Contracts: Waived Off till 30-09-2020
STT - -
SEBI Charges 00.00010% 00.00010%

For Currency

CHARGES FUTURES OPTIONS
Transaction Charges 0.0009%
0.035%
SEBI Charges 10 / crore 10 / crore
STT - -

Trading Platforms

Set of software & applications offered by the broker for executing buy and sell orders online. These are names of their portals and mobile apps, for full desc- Full Platform Details.
Trade Station Web
Trade Station Exe
App

Pros

Advantages and Strengths of this broker.

1.
IIFL Group, that is a premier Indian NBFC with experience of over 2 decades, is the promoter of 5paisa.
2.
Provides an option to choose from 2 Subscription plans as per your trading needs.
3.
Offers free technical, derivative, and fundamental research with an advanced trading platform for traders.

Cons

Disadvantages of this broker that it needs to improve upon.

1.
High Demat transaction charges.
2.
Higher exchange transaction charges in comparison with other discount brokers.
3.
Call & Trade is available at a high additional cost.
4.
5paisa does not offer NRI trading services.
5.
Promotions of other products on the website.
6.
Call & Trade service is chargeable even if the mobile application is not working.
Discount Broker
Equity
Commodity
Currency
Futures
Options
Account Opening Charge
Free
Account Maintenance Charge
400
Equity Delivery Brokerage
Zero
Equity Intraday Brokerage
0.01%
More

Alice Blue

Discount Broker
Depository: CDSL
Alice Blue is a discounted broker offering trading platforms for different exchanges like BSE, NSE, and MCX.

Brokerage Plans (Single Plan)

1 or more plans offered by this broker, which outlines, Account opening and maintenance fees charged by this broker, Brokerage charges and Margins provided. Use plan switcher to see the difference in offerings, if multiple plans are available.

Charges

Account Opening Charge
Free
Account Maintenance Charge
400
Call & Trade Charges
50 + GST per trade for Call and Trade Charges

Brokerage

Equity Delivery Brokerage
Zero
Equity Intraday Brokerage (NSE, BSE)
15/ order or 0.05% whichever is lower
Equity Futures Brokerage
15/ order or 0.05% whichever is lower
Equity Options Brokerage
15
Currency Futures Brokerage
15/ order or 0.05% whichever is lower
Currency Options Brokerage
15
Commodity Futures Brokerage
15/ order or 0.05% whichever is lower
Commodity Options Brokerage
15

Charges Details

For Equity

CHARGES DELIVERY INTRADAY FUTURES OPTIONS
Transaction Charges 0.00345% 0.00345% 0.002% 0.053% (on premium)
Demat Transaction Charges - - - -
Clearing Charges - - - -
GST 18% on Brokerage + Transaction + Clearing Charges 18% on Brokerage + Transaction + Clearing Charges 18% on Brokerage + Transaction + Clearing Charges 18% on Brokerage + Transaction + Clearing Charges
STT 0.10% 0.025% Intraday in cash only on the selling side 0.01% Futures only on the selling side 0.05% Options only on the selling side
SEBI Charges 10 per crore 10 per crore 10 per crore 10 per crore

For Commodity

CHARGES FUTURES OPTIONS
Transaction Charges 260  per crore 260  per crore
Clearing Charges 0.00% 0.00%
GST 18% on Brokerage + Transaction 18% on Brokerage + Transaction
STT 0.01%(Non-Agri) Futures (only one selling side) 0.05% Options (only one selling side)
SEBI Charges 10 per crore 10 per crore

For Currency

CHARGES FUTURES OPTIONS
Transaction Charges 260  per crore 260  per crore
Clearing Charges - -
GST 18% on Brokerage + Transaction 18% on Brokerage + Transaction
STT - -
SEBI Charges 10 per crore 10 per crore

Trading Platforms

Set of software & applications offered by the broker for executing buy and sell orders online. These are names of their portals and mobile apps, for full desc- Full Platform Details.
ANT Mobi
ANT Web
ANT Desk
Alice Blue Mutual Funds

Pros

Advantages and Strengths of this broker.

1.
Free Equity Delivery brokerage in Freedom (F20) plan.
2.
NEST offers a Risk and Order Management System to understand the trading strategy.
3.
ANT Trading Software is available for free to all its customers.
4.
Trading Platform is backed by ANT.
5.
The free daily market report is available to all customers.
6.
Offers access to a range of third party online trading tools & apps.

Cons

Disadvantages of this broker that it needs to improve upon.

1.
Call & Trade are available at an extra Rs 20 per executed order
2.
NCD and Corporate bonds are not available.
3.
One cannot expect quality assistance.
4.
Presence of many third party products makes the site cluttered.

IIFL Securities

Discount Broker
Equity
Commodity
Currency
Futures
Options
Account Opening Charge
Equity (for trades on Equity, F&O, and Currency)
NIL
Account Maintenance Charge
400
Equity Delivery Brokerage
20/ executed order
Equity Intraday Brokerage
20/ executed order
More

IIFL Securities

Discount Broker
Depository: CDSL
India’s first discounted stockbroker with advanced in-house technology and largest active client base.

Brokerage Plans (Single Plan)

1 or more plans offered by this broker, which outlines, Account opening and maintenance fees charged by this broker, Brokerage charges and Margins provided. Use plan switcher to see the difference in offerings, if multiple plans are available.

Charges

Account Opening Charge
Equity (for trades on Equity, F&O, and Currency)
NIL
Account Maintenance Charge
400

Brokerage

Equity Delivery Brokerage
20/ executed order
Equity Intraday Brokerage
20/ executed order
Equity Futures Brokerage
20/ executed order
Equity Options Brokerage
20/ executed order
Currency Futures Brokerage
20/ executed order
Currency Options Brokerage
20/ executed order
Commodity Futures Brokerage
20/ executed order
Commodity Options Brokerage
20/ executed order

Charges Details

For Equity

CHARGES DELIVERY INTRADAY FUTURES OPTIONS
Transaction Charges NSE: 0.00345% per trade on buy & sell.
BSE: charges vary as per the scrip group 		NSE: 0.00345% per trade on buy & sell.
BSE: charges vary as per the scrip group 		NSE: Exchange turnover charge: 0.0020% Clearing charge: 0.0002% NSE: Exchange turnover charge: 0.053% Clearing charge: 0.005%
Demat Transaction Charges 10 flat - - -
  - - - -
GST 18% on Brokerage + Transaction + Demat Charges 18% on Brokerage + Transaction 18% on Brokerage + Transaction + Clearing Charges 18% on Brokerage + Transaction + Clearing Charges
STT 0.1% on both buy & sell. 0.025% only on sell. 0.01% on sell. 0.05% on sell-side (premium).
SEBI Charges 5 per crore 5 per crore 5 per crore 5 per crore

For Commodity

CHARGES FUTURES OPTIONS
Transaction Charges Non-Agri: Exchange turnover charge: 0.0026% Clearing charge: 0.0005% Exchange turnover charge: 0 Clearing charge: 0.002% on buy + sell [Rs. 200/crore]
Clearing Charges 0.0005% 0.002% on buy + sell [Rs. 200/crore]
GST 18% on Brokerage + Transaction 18% on Brokerage + Transaction
STT 0.01% on sell trade (Non-Agri) 0.05% on a sell trade
SEBI Charges Agri -  1 per crore; Non-Agri  5  per crore 5 per crore

For Currency

CHARGES FUTURES OPTIONS
Transaction Charges 0.0009% - NSE
0.00022% - BSE 		0.04% - NSE
0.001% - BSE
Clearing Charges 0.0004% - NSE
0.0004% - BSE 		0.025% - NSE
0.025% - BSE
GST 18% on Brokerage + Transaction 18% on Brokerage + Transaction
STT - -
SEBI Charges 5 per crore 5 per crore

Trading Platforms

Set of software & applications offered by the broker for executing buy and sell orders online. These are names of their portals and mobile apps, for full desc- Full Platform Details.
Kite Web
Kite Mobile Application
Coin

Pros

Advantages and Strengths of this broker.

1.
IIFL Securities is a self-clearing broker which means that they don't recover clearing charges from customers.
2.
Provides free stock market lessons and financial education for everyone.
3.
They provide only Direct Plans on Mutual Fund investments.
4.
Bonds & G-securities can also be invested through Golden Pi.

Cons

Disadvantages of this broker that it needs to improve upon.

1.
IIFL Securities’s call & trade charges are more as compared to other brokers.
2.
Response from customer support can be delayed.
3.
Due to a huge customer base, software glitches happen at certain times.
4.
For every investment instrument, they have a different platform like Kite for shares, Coin for mutual funds, Golden Pi for bonds etc.
5.
NRI Account opening can be done only through an offline process.
Discount Broker
Equity
Commodity
Currency
Futures
Options
Account Opening Charge
Free
Account Maintenance Charge
Zero
Equity Delivery Brokerage
20 or 2.5% whichever is lower on equity delivery
Equity Intraday Brokerage
20/ executed order or 0.05% whichever is lower
More

Upstox

Discount Broker
Depository: CDSL
Backed by Tiger Global & Ratan Tata, Upstox is a discount broker that provides free third-party premium subscriptions at the time of account opening

Brokerage Plans (Single Plan)

1 or more plans offered by this broker, which outlines, Account opening and maintenance fees charged by this broker, Brokerage charges and Margins provided. Use plan switcher to see the difference in offerings, if multiple plans are available.

Charges

Account Opening Charge
Free
Account Maintenance Charge
Zero
Call & Trade Charges
20

Brokerage

Equity Delivery Brokerage
20 or 2.5% whichever is lower on equity delivery
Equity Intraday Brokerage
20/ executed order or 0.05% whichever is lower
Equity Futures Brokerage
20/ executed order or 0.05% whichever is lower
Equity Options Brokerage
Flat 20/ executed order
Currency Futures Brokerage
20/ executed order or 0.05% whichever is lower
Currency Options Brokerage
Flat 20/ executed order
Commodity Futures Brokerage
20/ executed order or 0.05% whichever is lower
Commodity Options Brokerage
Flat 20/ executed order

Charges Details

For Equity

CHARGES DELIVERY INTRADAY FUTURES OPTIONS
Transaction Charges NSE: 0.00345% per trade on buy & sell.
BSE: charges vary as per the scrip group 		NSE: 0.00345% per trade on buy & sell.
BSE: charges vary as per the scrip group 		NSE: 
Exchange turnover charge: 0.0020%
Clearing charge: 0.0002%		 NSE: 
Exchange turnover charge: 0.053%
Clearing charge: 0.005%
Demat Transaction Charges  18.5 per scrip per day only on sell  - - -
Clearing Charges - - 0.0002% - NSE 0.005% - NSE
GST 18% on Brokerage + Transaction + Demat Charges 18% on Brokerage + Transaction 18% on Brokerage + Transaction + Clearing Charges 18% on Brokerage + Transaction + Clearing Charges
STT 0.1% on both buy & sell. 0.025% only on sell. 0.01% on sell. 0.05% on sell-side (premium).
SEBI Charges 5 per crore 5 per crore 5 per crore 5 per crore

For Commodity

CHARGES FUTURES OPTIONS
Transaction Charges Non-Agri: 
Exchange turnover charge: 0.0026%
Clearing charge: 0.0005%		 Exchange turnover charge: 0
Clearing charge: 0.002% on buy + sell [Rs. 200/crore]
Clearing Charges 0.0005% 0.002% on buy + sell [Rs. 200/crore]
GST 18% on Brokerage + Transaction 18% on Brokerage + Transaction
STT 0.01% on sell trade (Non-Agri)  0.05% on a sell trade
SEBI Charges Agri: 1/crore
Non-Agri: 5/crore 		5 per crore

Currency Charges

CHARGES FUTURES OPTIONS
Transaction Charges 0.0009% - NSE
0.00022% - BSE		 0.04% - NSE
0.001% - BSE
Clearing Charges 0.0004% - NSE
0.0004% - BSE		 0.025% - NSE
0.025% - BSE
GST 18% on Brokerage + Transaction 18% on Brokerage + Transaction
STT - -
SEBI Charges 5 per crore 5 per crore

Trading Platforms

Set of software & applications offered by the broker for executing buy and sell orders online. These are names of their portals and mobile apps, for full desc- Full Platform Details.
Pro Web Trading Platform
Upstox Pro Mobile

Pros

Advantages and Strengths of this broker.

1.
Free equity delivery brokerage on each plan.
2.
There are many technical indicators for traders.
3.
They have morning newsletters on market talks for free to know the
4.
Upstox is funded by Ratan Tata which adds a trust/ reliability in RKSV group.

Cons

Disadvantages of this broker that it needs to improve upon.

1.
In the basic plan, every customer has to pay the Demat Transaction Charges which are comparatively higher.
2.
Extra Rs. 20 per executed order is charged for Intraday square off orders when they are not squared off by the customer.
3.
Customers have to be careful while selecting a mutual fund as both direct and regular plans are offered.
4.
Margin exposure is limited in the priority plan.

Useful links

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