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Home / Finance / Brokerage charges levied by discount stock brokers in India

Brokerage charges levied by discount stock brokers in India

Last updated on December 20, 2023 by Editorial Staff

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Trading in the stock market is associated with various charges, including brokerage charges and securities transaction tax (STT). Knowing how these charges are levied will help you to plan your trade in advance.

Before getting into brokerage charges let us understand who charges you brokerage fee and why.

Brokerage fee is charged to you by a broker through whom you trade in the stock market. 

Stock broker is a financial intermediary through which you can trade in the stock market. These stock brokers facilitate trading in different financial instruments, like stocks, forex, commodities, natural gas, crude oil, futures and derivatives.

We have two different types of brokers in the stock market: discount broker and full-service broker.

Full service stock brokers are those who provide additional services like market report, advisory, customer service and research in addition to brokerage service.

Whereas, discount brokers did not provide any other additional services other than brokerage service. However, compared to full service brokers, they charge brokerage fees at a discounted rate.

In this article, we have included brokerage fees charged by discount brokerage firms to help you understand the rates of brokerage and when they are charged. You won’t get these types of lower brokerage rates from full service brokerage firms.

What is brokerage fee

Brokerage charges are the fees or commissions a stockbroker charges in order to execute transactions on the stock exchanged on behalf of a client.

Brokerage fees vary from every broker. It also depends on the type of transaction you make.

Brokerage fee is generally charged as a percentage of the transaction. Due to competition in the brokerage industry, some brokers are also charging a flat fee per transaction irrespective of the amount traded. You also have the option as a hybrid of the two.

This means in India, we have 3 varieties of brokerage plan;

  • Based on percentage of trading volume; or
  • A flat fee charged per trade; or
  • A hybrid of the above two.

The brokerage fee is calculated on the total cost when a financial security is purchased or sold. 

Understanding brokerage charges

Brokerage charges are levied both on buying and selling of stocks, futures and options, commodities and currencies.

Suppose a broker charges a fee of 0.05% on equity intraday trading. This means, when you buy stock for Rs. 100, brokerage charge is 0.05% of Rs 100, which is Rs. 0.05. When you sell the stock on the same day, you will again be charged a fee of 0.05%. Suppose you sold the stock for Rs. 200, brokerage charge is 0.05% of Rs. 200, which is Rs. 0.10. In total, you paid Rs. 0.15 (i.e. 0.05+0.10) toward brokerage charges for the intraday transaction.

We have prepared a list below showing you brokerage charges charged by different discount brokerage forms in India. These firms are not only offering low discount rates but also provide you a good trading platform to execute your transaction effortlessly.

Low brokerage charges for Equity Delivery

Name of the BrokerBrokerage fee
ZerodhaZero
UpstoxRs. 20 or 2.5%, whichever is lower
Angel Broking  (Angelone)Zero
GrowwRs. 20 or 0.05% per executed order, whichever is lower
5paisaRs. 20 per order
IIFL SecuritiesRs. 20 per order

Low brokerage charges for Equity Intraday

Name of the BrokerBrokerage fee
Zerodha0.03% or Rs. 20 / executed order, whichever is lower
UpstoxRs. 20 per executed order or 0.05%, whichever is lower
Angel Broking  (Angelone)Rs. 20 / Executed Order Or 0.25%, whichever is lower
GrowwRs. 20 or 0.05% per executed order, whichever is lower
5paisaRs. 20 per order
IIFL SecuritiesRs. 20 per order

Flat brokerage charges for Equity futures

Name of the BrokerBrokerage fee
Zerodha0.03% or Rs. 20 / executed order whichever is lower
UpstoxRs. 20 per executed order or 0.05%, whichever is lower
Angel Broking  (Angelone)Rs. 20 / Executed Order Or 0.25%, whichever is lower
GrowwRs. 20 per executed order
5paisaRs. 20 per order
IIFL SecuritiesRs. 20 per order

Flat brokerage fee for Equity options

Name of the BrokerBrokerage fee
ZerodhaFlat Rs. 20 per executed order
UpstoxFlat Rs. 20 per executed order
Angel Broking  (Angelone)Rs. 20 per Executed Order Or 0.25%, whichever is lower
GrowwRs. 20 per executed order
5paisaRs. 20 per order
IIFL SecuritiesRs. 20 per order

Flat brokerage fee for currency options

Name of the BrokerBrokerage fee
Zerodha0.03% or Rs. 20/executed order, whichever is lower
UpstoxFlat Rs. 20 per executed order
Angel Broking  (Angelone)Rs. 20 Per Executed Order Or 0.25%, whichever is lower
GrowwNA
5paisaRs. 20 per order
IIFL SecuritiesRs. 20 per order

Low brokerage charges for currency futures

Name of the BrokerBrokerage fee
Zerodha0.03% or Rs. 20/executed order, whichever is lower
UpstoxRs. 20 per executed order or 0.05%, whichever is lower
Angel Broking  (Angelone)Rs. 20 Per Executed Order Or 0.25%, whichever is lower
GrowwNA
5paisaRs. 20 per order
IIFL SecuritiesRs. 20 per order

Low brokerage charges for commodity futures

Name of the BrokerBrokerage fee
Zerodha0.03% or Rs. 20/executed order, whichever is lower
UpstoxRs. 20 per executed order or 0.05%, whichever is lower
Angel Broking  (Angelone)Rs. 20 Per Executed Order Or 0.25%, whichever is lower
GrowwNA
5paisaRs. 20 per order
IIFL SecuritiesRs. 20 per order

Low brokerage charges for commodity options

Name of the BrokerBrokerage fee
Zerodha0.03% or Rs. 20/executed order, whichever is lower
UpstoxFlat Rs. 20 per executed order
Angel Broking  (Angelone)Rs. 20 Per Executed Order Or 0.25%, whichever is lower
GrowwNA
5paisaRs. 20 per order
IIFL SecuritiesRs. 20 per order

Certain brokers also have monthly and annual plans in which you need to pay a fixed sum in order to get a reduced rate of brokerage. Most of the discount brokers don’t offer a monthly plan as the fees are already discounted. You will get monthly/annual plans with full service brokerage firms.

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About the Author

Editorial Staff at Yourfinancebook.com is a team of finance professionals. The team has more than a decade experience in taxation, stock market and personal finance.

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