The lowest brokerage charge is the minimum brokerage amount that traders need to pay when the total brokerage calculation is less than the amount set. If the calculated brokerage is lower than the minimum brokerage defined by the stock broker, the lowest brokerage charges are incurred.
There are set guidelines from SEBI (security and exchange board of India) for India’s highest/ lowest brokerage charges for traders who trade on the Indian stock exchange. The maximum brokerage any stockbroker can apply is 2.5%, and no stockbroker can surpass the set percentage. There are no limitations stockbrokers can charge for the lowest brokerage charges according to their preferences.
This is the reason why every stockbroker has a different brokerage plan. Some firms offer zero brokerage charges as the lowest brokerage charges in India for the clients who trade on the stock exchange.
Nowadays, some brokers are charging a fixed amount of brokerage per trade, irrespective of the trade volume, which saves much of the amount on your brokerage charges. This article covers India’s top 10 companies offering the lowest brokerage charges in India.
Table of Contents
- Top 10 companies charging the lowest brokerage charges in India
- 1. ICICI Direct – Lowest Brokerage Charges in India
- 2. Kotak Securities
- 3. HDFC Securities
- 4. Motilal Oswal
- 5. Sharekhan
- 6. SBI Securities
- 7. AxisDirect
- 8. Geojit
- 9. Edelweiss
- 10. Religare
- conclusion
Top 10 companies charging the lowest brokerage charges in India
Here is the list of the companies charging the lowest brokerage charges in India, with the brokerage plan they offer to their clients.
| Broker | Minimum Brokerage |
| ICICIdirect | Rs 35 per trade (I-Secure Plan) |
| Kotak Securities | Rs 21 per executed order |
| HDFC Securities | Rs 25 plus taxes |
| Motilal Oswal | Rs 25 for Delivery/ 12 for Intraday |
| Sharekhan | Intraday: 5 paise per share | Delivery: 10 paise per share | Future Rs 0.001 per share |
| SBI Securities | Rs 0.05 for Cash, Rs 0.01 Future |
| AxisDirect | Rs 20 per trade |
| Geojit | 1p per share or Rs 20 per contract whichever is highest |
| Edelweiss | 0.03% Equity delivery, 0.01% Intra-day and Futures |
| Religare | 1p per share |
Insight of the companies charging the lowest brokerage charges in India
Here is a detailed explanation of every company mentioned in the list of the lowest brokerage charges in India.
1. ICICI Direct – Lowest Brokerage Charges in India
ICICI Direct is one of the largest retail stock brokers in India. It is a part of the ICICI group/ subsidiary of the ICICI group. Currently, the company is offering online trading and investment services to over 50 lakh customers. ICICI Direct provides equity, commodity, and currency trading services at BSE, NSE, and MCX. Moreover, they also offer Mutual Fund & IPO, Fixed deposits, Bond, NCD, wealth products, Home Loans, Loans against Securities, etc., as a part of their services.
ICICI offers ICICI 3-in-1 demat account. This account includes the ICICI Bank Account, ICICI Trading Account, and ICICI Demat Account. Through this account, one can enjoy seamless trading in its offers, like multiple brokerage plans, i.e., Lifetime Prepaid Brokerage Plan, I-Secure Plan, ICICIdirect Prime Plan, and Neo Plan.
Here is the list of the 4 brokerage plans that ICICI Direct offers
| Segment | Brokerage |
| Equity Delivery | 0.55% |
| Equity Intraday | Rs 20 per executed order |
| Equity Future | Rs 0 (Free) |
| Equity Options | Rs 20 per executed order |
| Currency F&O | Rs 20 per executed order |
| Commodity F&O | Rs 20 per executed order |
| NCDs / Bonds | 0.75% |
2. ICICIdirect Prime Plan
| Plan | Equity Cash | Equity Futures | Equity Options | Currency F&O | Commodity Futures |
| Rs 299 | 0.27% | 0.027% | Rs 40/lot | Rs 20/order | Rs 20/order |
| Rs 999 | 0.22% | 0.022% | Rs 35/lot | Rs 20/order | Rs 20/order |
| Rs 1,999 | 0.18% | 0.018% | Rs 25/lot | Rs 20/order | Rs 20/order |
| Rs 2,999 | 0.15% | 0.015% | Rs 20/lot | Rs 20/order | Rs 20/order |
3. I-Secure Plan (Flat brokerage Plan)
| Segment | Brokerage |
| Equity Delivery | 0.55% |
| Equity Intraday | 0.275% |
| Equity Future | 0.05% |
| Equity Options | Rs 95 per order |
| Currency F&O | Rs 20 per executed order |
| Commodity F&O | Rs 20 per executed order |
| NCDs / Bonds | 0.75% |
4. ICICIdirect Prepaid Brokerage Plan
| Prepaid Plan | Equity Cash | Equity Future | Equity Options | Currency F&O | Commodity Futures |
| Rs 5,000 | 0.25% | 0.025% | Rs 35/lot | Rs 20/order | Rs 20/order |
| Rs 12,500 | 0.22% | 0.022% | Rs 30/lot | Rs 20/order | Rs 20/order |
| Rs 25,000 | 0.18% | 0.018% | Rs 25/lot | Rs 20/order | Rs 20/order |
| Rs 50,000 | 0.15% | 0.015% | Rs 20/lot | Rs 20/order | Rs 20/order |
| Rs 100,000 | 0.12% | 0.012% | Rs 15/lot | Rs 20/order | Rs 20/order |
| Rs 150,000 | 0.09% | 0.009% | Rs 10/lot | Rs 20/order | Rs 20/order |
2. Kotak Securities
Kotak Securities Ltd is a subsidiary of the Kotak Mahindra Bank. It was founded in 1994. The company offers its services in stockbroking and distributes financial products in India. It currently has 1209 branches, franchisees, and satellite offices providing services to its 11.95 Lakh customers. Moreover, they are a leading member of the Bombay Stock Exchange and the National Stock Exchange. Also, they are the depository participant with National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL).
Kotak securities also offer a three-in-one account, i.e., Demat, trading, and a bank account with Kotak Mahindra Bank Limited. Customers can quickly trade in segments like Equity, IPO, Mutual Fund, ETF, Tax-free bonds, Currency Derivatives, Gold ETF, etc.
Here is the list of Kotak Securities Brokerage Plans
1. Trade Free Plan
| Trading Segment | Brokerage Charges |
| Delivery (Equity, Commodity)* | 0.25% |
| Intraday (All Segments)** | Free |
2. Dealer Assisted Plan
| Trading Segment | Brokerage Charges |
| Equity Delivery | 0.39% |
| Equity Intraday | 0.04% |
| Equity Futures | 0.04% |
| Equity Options | Rs. 39 per lot |
| Currency Futures | Rs. 9 per lot |
| Currency Options | Rs. 5 per lot |
| Commodity Futures | 0.04% |
| Commodity Options | Rs. 39 per lot |
3. HDFC Securities
HDFC Securities(HDFCsec) is another company charging the lowest brokerage charges in India. It is an Equity Trading Company of HDFC Bank providing online trading and phone services. Moreover, they also offer a unique 3-in-1 feature that integrates your HDFC Securities trading account with your existing HDFC bank savings account and existing Demat account.
The company provides services in Cash-n-Carry on both NSE and BSE, Day trading on both NSE and BSE, Trade on Futures & Options on the NSE, and Online IPO Investment.
Here are the Brokerage plans of HDFC Securities
| Delivery Based Trades | For Indian residents – 0.50% or min Rs 25 or 2.5% on transaction value For NRI’s users – 0.75% or min Rs 100 or 2.5% on transaction value |
| Square-Off Trades Cash & Carry Scrips | 0.10% or min Rs 25 or 2.5% on transaction value (Both Buy & Sell) |
| Square-Off Trades Margin Scrips | 0.05% or min Rs 25 or ceiling of 2.5% on transaction value (Both Buy & Sell) |
Derivatives (Futures Market)
| Non-Square Off (Carry Forward) Trades | 0.05% or min Rs 25 or ceiling of 2.5% of the transaction value (Both Buy & Sell) |
| Square-Off Trades | 0.025% or min Rs 25 or ceiling of 2.5% of the transaction value (Both Buy & Sell) |
Derivatives (Option Market)
| Brokerage | Higher of 1% of the premium amount of Rs 100 per lot (Both Buy & Sell) |
4. Motilal Oswal
The company started in 1987 in Mumbai, India, as a diversified financial services firm. Motilal Oswal offers trading services in different segments like Equity, Commodity, Currency, and Derivatives. Moreover, they deal in financial products like Mutual Funds, IPOs, Gold, Insurance, and Fixed Income products. The company is widely recognized for its discretionary Portfolio Management Service (PMS).
Motilal Oswal has a diversified client base that includes retail customers (including High Net worth Individuals), financial institutions, mutual funds, foreign institutional investors, and corporate clients. It has a network spread over 500+ cities and towns comprising 2,200+ Business Locations operated by the company and its Business Partners.
Here is the list of Motilal Oswal Brokerage Plans
1. Default Brokerage Plan
| Segment | Brokerage |
| Equity Delivery | 0.50% |
| Intraday Cash or Future/ Equity and Commodity | 0.05% (both side) |
| Options – Equity | Rs 100 per lot (both side) |
| Currency F&O | Rs 20 per lot (both side) |
2. Value Pack Plan
| Segment | Brokerage |
| Equity Delivery | from 0.10% to 0.40% |
| Intraday Cash or Future/ Equity and Commodity | from 0.01% to 0.04% (both side) |
| Options – Equity | Rs 20 to Rs 50 per lot |
| Currency F&O | Rs 10 to Rs 22 per lot |
3. Margin Scheme
| Segment | Brokerage |
| Equity Delivery | from 0.15% to 0.50% |
| Intraday Cash or Future – Equity and Commodity | from 0.015% to 0.05% (both side) |
| Options – Equity | from Rs 25 to Rs 100 per lot (both side) |
| Currency F&O | Rs 20 per lot (both side) |
The company started in February 2000 and is India’s 3rd largest stock broker (after ICICI Direct and HDFC Securities). Sharekhan is another lowest brokerage Demat account in India, providing its services through its online trading website Sharekhan.com. It has 1800 offices which include branches & franchises in over 550 cities across India. Moreover, they have an international presence in Oman and UAE.
Company deals in the trade execution facilities for equity cash and derivatives segments on BSE and NSE, commodities trading facilities on MCX and NCDEX. Moreover, you can enjoy the depository services (Demat account) and the option to invest in mutual funds and IPOs.
Here is the list of the Sharekhan Trading Brokerages Charges:
| Segment | Brokerage charges |
| Equity Cash Intra-day Trades | 0.10% on the buy-side |
| Equity Delivery Trades | 0.50% or 10 paise per share/ Rs 16 whichever is higher. |
| F&O Trades | first leg 0.10% and squared off on any other day 0.10% |
| Options Trades | 2.50% or Rs 250 per lot on the premium (whichever is higher) |
| Currency Future | 0.10% |
| Currency Options | 2.50% or Rs 30 per lot on premium (whichever is higher) |
| Commodity | 0.10%. |
6. SBI Securities
SBICAP Securities Ltd (SSL) is another stockbroking firm offering
the lowest brokerage charges in India. It is a subsidiary of the State Bank Group and SBI Capital Markets Ltd. The company was founded in 1986; it is a full-service stockbroker offering services in Institution Equity, Retail Equity, Derivatives, Broking, Depository Services, and Third Party Distribution products. They also deal in online trading services to investors & traders.
Moreover, it offers a full suite of services to NRIs residing across the globe, i.e., the US, UK, Canada, and Japan. Due to regulatory restrictions, it also offers a 3-in-1 account but does not solicit investments from them.
Here is the list of the SBI Securities Trading Brokerages Charges:
| Segment | Brokerage |
| Intra-day Trades | 0.15% (both sides) Or Minimum 5 paise per share whichever is higher. |
| Delivery Based Trades | 0.50% or Min 5 paise per share (higher one preferred) |
| Futures | 0.05% for intraday and 0.09% for carrying forward Or Minimum 5 paise per share whichever is higher |
| Options Trades | Rs. 50/- for intraday (one side) (per contract) and Rs. 100/- for carrying forward (per contract) |
| Segment | Delivery | Intraday | Minimum | ||
| First leg | Second leg | ||||
| Cash Market | 0.50% | 0.075% | 0.075% | Rs 0.05 | |
| Derivatives | Future | 0.05% | 0.03% | 0.03% | Rs 0.01 |
| Option (per lot) | Rs 100 | Rs 50 | Rs 50 | ||
| Currency Derivatives | Future | 0.03% | 0.015% | 0.015% | |
| Option (per lot) | Rs 30 | Rs 20 | Rs 20 |
7. AxisDirect
The company started in 2005 under Axis Securities Ltd is a part of Axis Bank. It is a full-service broker that offers services in the stockbroking and distribution of financial products to retail customers in India. They are among India’s top 10 stock brokers, proving the lowest brokerage charges with over 4.2 lakhs active customers.
It offers Equities, Mutual Fund, SIP, IPO, Derivatives, Bond, NCD, ETF, and Company Fixed Deposits. Moreover, they deal in Home Loans, Auto Loans, Personal Loans, Loans against Property, Loan against Shares, and Loans for SMEs, Credit, and Prepaid Cards. It also offers the 3-in-1 account, an integrated Trading, Demat, and Bank account, which helps in the seamless transaction of the money and shares between the 3 accounts.
Here is the list of the AxisDirect Trading Brokerages Charges:
| Segment | Brokerage Charges |
| Equity Delivery | 0.50% (Each Leg) |
| Equity Intraday | 0.05% (Each Leg) |
| Equity Future | 0.05% (Each Leg) |
| Equity Options | For the Intraday: Rs 0.01 per lot, if carry Forward: Rs 10 per lot |
| Currency Futures | 0.05% (Each Leg) |
| Currency Options | For the Intraday: Rs 0.01 per lot, if Carry Forward: Rs 10 per lot |
| Commodity Futures | 0.03% (Each Leg) |
| Commodity Options | Rs 50 per lot |
8. Geojit
Geojit started in 1987 named as Geojit BNP Paribas (Geojit). It is one of the major stockbrokers based in India. The company is based in Kochi, Kerala, and has a presence in the Gulf. They deal in the cash equity and derivatives broker and have extensive experience in Portfolio Management Services.
Moreover, they distribute financial products, i.e., mutual funds and life insurance. The company allows stock trading at NSE and BSE stock exchanges through 500 branches and an online trading portal. Moreover, it is listed in NSE and BSE.
Here is the list of the Geojit Trading Brokerages Charges:
| Segment | Brokerage |
| Delivery-based Trading | 0.30% |
| Intraday Trading | 0.03% |
| Future | 0.03% |
| Options Intraday | Rs 125 per contract |
| Options carry forward positions | Rs 150 per contract |
| Minimum Brokerage Geojit: | Rs 20 per Contract or 1 paisa per share whichever is higher. |
9. Edelweiss
This is another company providing the lowest brokerage charges in India. The company started in 2008 named Edelweiss Broking Ltd, headquartered in Mumbai. It is a part of the Edelweiss Group, which was incorporated in 1995, dealing in a diversified financial services conglomerate.
The company deals in major segments like investment & trade in all major asset classes: Equity, Debt, Mutual Funds, IPOs, Currency Derivatives, commodities, and Futures & Options.
Moreover, they also offer the investment advice the research and analysis give to the customer across the asset class, trading styles, and time horizons. One can easily trade through the Mobile app, a website & desktop trading software. They are currently present across India, with over 475 offices in 200 locations.
Here is the list of the Edelweiss Trading Brokerages Charges:
| Segment | Brokerage Charges |
| Equity Delivery & Intra-day | Rs 10 per executed order |
| Equity Futures & Options | Rs 10 per executed order |
| Currency Futures & Options | Rs 10 per executed order |
2. Edelweiss Elite Plan Charges
| Segment | Brokerage Charges |
| Equity Delivery | 0.30% |
| Equity Intraday | 0.03% |
| Equity Futures | 0.03% |
| Equity Options | Rs 75 per lot |
| Currency Futures | 0.02% |
| Currency Options | Rs 20 per lot |
10. Religare
The company was started in the year 1986, asReligare Securities Ltd (RSL). It is a subsidiary of Religare Enterprises Limited, a New Delhi-based diversified financial group. It offers retail broking, depository services, and other related investment services to customers in India. Moreover, they are offering the lowest brokerage charges in India. It has a physical presence in over 500 cities through its branches and sub-brokers, providing personalized services to more than 10lakh customers.
The services include trading in equity, equity derivatives, currency derivatives, commodity, Demat account, and related services. Moreover, they also deal in Mutual Funds, NCD, IPO, etc. The company is the leading member of BSE, NSE, MCX, and NCDEX exchanges and offers Demat account service through NSDL and CDSL.
Here is the list of the Religare Trading Brokerages Charges:
| Segment | Brokerage Fee |
| Equity Delivery | 0.50% to 0.10% |
| Equity Intraday | 0.050% to 0.010% |
| Equity Futures | 0.05% |
| Equity Options | Rs 70 per lot |
| Currency Futures | 0.05% |
| Currency Options | Rs 30 per lot |
| Commodity Futures | 0.05% |
| Commodity Options | Rs 30 per lot |
conclusion
This article covers the companies providing the lowest brokerage charges in India. These companies are well-known stockbrokers providing the best services for the lowest brokerage charges Demat accounts in India across the stock market. For more information about the best stock broking companies, you can read the article “Best Stock Broker in India.
