Stock Market
Top 5 Discount Brokers in India 2026: Charges Compared
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A discount broker charges a small flat fee per order (usually ₹20 or less) instead of a percentage of your trade. Most new investors in India now open their first demat account with one. This guide compares the five best-known discount brokers on what actually costs you money: brokerage, account opening fees and annual maintenance charges (AMC).
Charges below were checked on each broker's official pricing page in October 2026. Brokers change pricing often, so confirm on their site before you open an account.
Discount broker vs full-service broker
- Discount brokers charge a flat fee per executed order and focus on a fast app and low costs. They usually don't give stock tips or a dedicated relationship manager.
- Full-service brokers (often the broking arms of banks) charge a percentage of the trade value, commonly a fraction of a percent, and bundle research, advisory and branch support.
If you place your own orders and invest small amounts regularly, a discount broker is almost always cheaper. New to investing? Start with our guide on how to start investing in the Indian stock market.
Charges compared (October 2026)
| Broker | Equity delivery | Intraday / F&O | Account opening | AMC |
|---|---|---|---|---|
| Zerodha | ₹0 | ₹20 or 0.03%, whichever is lower; options flat ₹20 | Free | Free for the first year (new resident accounts from 1 June 2026) |
| Groww | ₹20 or 0.1%, whichever is lower (min ₹5) | ₹20 or 0.1% (min ₹5); F&O flat ₹20 | Free | ₹0 |
| Angel One | ₹20 or 0.1%, whichever is lower (min ₹5) | ₹20 or 0.1% (min ₹5); F&O flat ₹20 | Free | Free for the first year |
| Upstox | ₹20 per order | ₹20 or 0.1%; options flat ₹20 | Free | Free for the first year |
| 5paisa | Plan-based pricing; check 5paisa's current charges page | |||
On top of brokerage, every broker passes on the same statutory charges: STT, exchange transaction charges, SEBI fees, stamp duty and GST. Selling shares from your demat account also attracts a DP charge per stock per day, which differs by broker.
The five brokers
Zerodha
Founded in 2010, Zerodha popularised flat-fee broking in India. Its main draw for long-term investors is ₹0 brokerage on equity delivery and free direct mutual funds through Coin. The Kite app is fast and clean, and Varsity is a good free learning resource. There is no stock-tips or advisory service.
Open a Zerodha account (referral link, see the disclosure at the top). Our Zerodha account opening guide walks through each step.
Groww
Groww started in 2016 as a mutual fund platform and added stocks in 2020. Its simple app made it popular with first-time investors. Direct mutual funds are free, and there are no account opening or maintenance charges. Equity delivery is charged per order (₹20 or 0.1%, minimum ₹5), so very frequent small delivery trades cost more than on a zero-delivery broker.
Angel One
Angel One (formerly Angel Broking) has been in broking since 1987 and moved to flat-fee pricing in 2019. It covers equity, F&O, commodities and currency, and also offers research and advisory products. Since 1 November 2024, delivery trades are charged ₹20 or 0.1% per order (minimum ₹5).
Upstox
Upstox began in 2012 as RKSV and rebranded in 2015. It is backed by investors including Tiger Global. Brokerage is a flat ₹20 per order on delivery and up to ₹20 on intraday and options, and AMC is free for the first year.
5paisa
5paisa was spun out of the IIFL group to compete in flat-fee broking. It offers subscription-style plans that lower per-order costs for frequent traders, plus mutual funds and other products. Pricing depends on the plan you pick, so compare it with your expected number of trades.
How to choose a discount broker
- Match the fees to how you invest. Long-term SIP-style stock buying favours ₹0 delivery brokerage. Active intraday or options traders should compare per-order costs instead.
- Look beyond brokerage. AMC, DP charges on selling, and fees for call-and-trade or auto square-off add up over a year.
- Check the app and reliability. Try the app's demo or watchlist first, and look up outage history during busy market days.
- Verify SEBI registration. Every broker must show its SEBI registration number. You can confirm it on the SEBI website.
- Avoid tips-for-trading offers. A broker or "partner" pushing stock tips or guaranteed returns to make you trade more is a red flag.
Other SEBI-registered discount brokers include Fyers, Dhan, Alice Blue, Samco and Kotak Neo. The same checklist applies.
Bottom line
All five brokers are SEBI-registered and charge far less than traditional brokers. For buy-and-hold investors, ₹0 delivery brokerage (Zerodha) is the biggest saving. For a simple app with no maintenance fee, Groww stands out. Active traders will pay roughly the same ₹20 per order almost everywhere, so pick the platform you find easiest and most reliable.