Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

Where can I find cheap stock brokerage in India?

Compare your options to find the lowest cost brokers in the market.

The share trading platform with the cheapest brokerage for you will depend on how often you trade, how much money you invest and which markets you’re trading in. In fact, some online platforms don’t charge any brokerage fees at all.

When you invest in shares, you’ll usually be charged a brokerage fee (commission) on every trade you make and you may also have to pay an account fee, currency conversion fees and inactivity fees if you’ve not made enough trades.

Because different fees are charged depending on how active you are or how much you’re investing, it’s worth shopping around for a share trading platform that offers the lowest brokerage fees for your investment style.

We look at online brokers that offer some of the lowest brokerage fees in India, including zero brokerage platforms.

Search and compare stock brokers

Name Product Number of stocks CFDs Shares Available Markets Link
Axis Direct
All NSE/BSE listed stocks
Go to site
More info
Get brokerage cashback of up to Rs 500 on trades done online through Axis Direct website, Swift Trade, or Mobile app. Grow your investment portfolio and maximise your gains with AxisDirect’s 3-in-1 demat, trading and savings account.
Saxo Bank
Go to site
CFD service. Your capital is at risk.
More info
CFD Service. Your capital is at risk.
Trade 40,000+ financial instruments at market-leading prices with this powerful yet intuitive trading platform.
Zacks Trade
Access to global markets
Go to site
More info
CFD Service. Your capital is at risk.
Trade stocks, bonds, ETFs, options, and more on 90+ international exchanges. Offers customisable trading platforms with over 120 technical indicators for your charting needs.

Compare up to 4 providers

What are brokerage fees?

A brokerage fee (also called commission) is what your stockbroker charges for executing a buy or sell transaction. In other words, every time you buy or sell shares through your online share trading account, you’ll need to pay a specific amount to the broker for the privilege of using its services. This fee is based on the size or value of the trade, and could be a flat fee or an amount calculated as a percentage of the transaction value.

Brokerage fees are one of the largest expenses associated with online share trading and can have a big impact on the affordability of your investments. If you’re a frequent trader and you’re paying a brokerage fee of ₹30 every time you buy or sell a parcel of shares, this can quickly add up to a substantial amount and eat away at your trading profits.

That’s why it’s essential for anyone thinking of getting started in the sharemarket to compare brokerage fees charged by online share trading platforms and shop around for the cheapest option.

How much will I need to pay for stock brokerage?

Brokerage fees are far from identical from one provider to the next, so it’s important to compare fees. For online share trading platforms, brokerage can range from ₹0 to ₹30 per trade. Full-service brokers such as Morgan Stanley start fees at around US$25 per trade, usually charged as a percentage of the amount being traded.

Some providers have simple fee structures and others have quite complex arrangements. Most of the time, the fee is based on the size or value of the trade, how often you trade and which country the stocks are listed in.

Different brokerage fees often also apply to phone trades and other unique trading options, so it’s worth reading the fine print to find out how much extra it’ll cost every time you make a trade.

Trading apps with zero brokerage fees in India

There are a growing number of share trading platforms that charge no brokerage fees to trade Indian, US or global stocks. These apps include:

  • eToro (US and global stocks)
  • TD Ameritrade (US stocks only)
  • 5paisa (US stocks only)
  • Axis Direct (US stocks only)
  • Zerodha (Indian stocks, equity delivery only)
  • Upstox (Indian stocks, equity delivery only)
  • ProStocks (Indian stocks, equity delivery only)

Although you don’t need to pay a commission, this doesn’t mean they’re free. Instead they charge a small foreign exchange fee to convert Indian rupees to the required global currency, e.g. USD.

Brokerage fee structures compared

The table below features a guide to the brokerage fees charged by some of India’s most well-known online share trading providers when buying and selling shares on the Indian exchanges. Compare those fees to find out which provider offers the cheapest stock brokerage.

BrokerOnline brokerage fee for Indian stocks and ETFsCall and Trade charge
  • Default plan: ₹20 per order for equity delivery and intraday
  • Power Investor pack: ₹10 per order
  • Ultra Trader pack: ₹10 per order

₹100 per call

(₹0 with Ultra Trader pack)

Axis Direct
  • 0.50% per order for equity delivery
  • 0.05% per order for intraday
  • Minimum brokerage fee: ₹25 per order
₹20 per call
Bajaj Finserv Securities
  • Default plan: 0.50% per order for equity delivery, 0.10% per order for intraday
  • Freedom pack: 0.10% per order for equity delivery, ₹17 per order for intraday
  • Beginner pack: ₹0.99 per order for equity delivery, ₹9 per order for intraday
  • Professional pack: ₹0.99 per order for equity delivery and intraday
₹20 per executed order
ICICI Direct
  • I-Secure plan: 0.55% per order for equity delivery, 0.275% per order for intraday, minimum ₹35 per order or 0.75% whichever is lower
  • Prime plan: four different plans, fees range from 0.27% to 0.15% per order depending on the chosen plan, minimum ₹25 per order or 0.75% whichever is lower
  • Prepaid brokerage plan: six prepaid plans, fees range from 0.25% to 0.09% per order depending on the chosen plan, minimum ₹25 per order or 0.75% whichever is lower
₹50 per executed order
Motilal Oswal
  • Default plan: 0.50% per order for equity delivery, 0.05% per order for intraday
  • Value Pack: seven prepaid plans, fees range from 0.40% to 0.10% per order for equity delivery and from 0.04% to 0.01% for intraday, depending on the chosen plan
  • 0.50% per order for equity delivery
  • 0.05% per order for intraday
₹10 per executed order
  • Value Trading plan: 0.07% per order for equity delivery, 0.007% per order for intraday
  • Power Trading plan: ₹15 per order

₹20 per executed order

  • ₹0 per order for equity delivery
  • ₹20 per order or 0.05% (whichever is lower) for intraday
₹20 per executed order
  • ₹0 per order for equity delivery
  • ₹20 per order or 0.03% (whichever is lower) for intraday
₹50 per executed order

Note: Fees and rates indicated are accurate as of April 29, 2021.

How much will I pay for international brokerage fees?

The brokerage fees for shares listed overseas can be more or less than what you’d pay for India-listed shares depending on the country of choice and the platform you’re using. For US-listed shares you can expect to pay anywhere between US$0 and US$60 per trade. This can be higher again for countries in Asia, Europe and the Middle East.

On top of the brokerage fee, you’ll typically need to pay a currency exchange fee (sometimes called FX fee) to convert your Indian rupees into the overseas currencies. This is usually calculated into the exchange rate and is referred to as the ‘spread’ – it’s the difference between the base exchange rate and the rate you’re actually being offered. The higher the spread, the higher your fee.

Below are the fees for US and UK shares offered by some of the most well-known global stock providers:

ProviderUS-listed sharesUK-listed sharesConversion fee
Saxo Bank Share Trading
  • Commission per share: US$0.02*
  • Minimum per share: US$10*
  • Commission per order: 0.10%*
  • Minimum per order: GBP 8*
  • 1%*
Interactive Brokers
  • Commission per share: US$0.0035**
  • Minimum per order: US$0.35**
  • Maximum per order: 1.0% of trade value**
  • Commission per order: 0.050%**
  • Minimum per order: GBP 1**
  • Maximum per order: n/a**
  • Negligible fee between 0.05 to 0.07%
IG Share Trading (CFD only)
  • Commission per share: US$0.02
  • Minimum per order: US$15
  • Commission per order: 0.10%
  • Minimum per order: GBP 10
  • 0.50%
CMC Markets (CFD only)
  • Commission per share: US$0.02
  • Minimum per order: US$10
  • Commission per order: 0.10%
  • Minimum per order: GBP 9
  • 0.50%

*Rates based on Saxo Bank Classic account tier.
**Rates based on Interactive Brokers’ tiered pricing structure.

Note: Rates indicated in this table are accurate as of April 29, 2021.

Special offers

From time to time, some online share trading providers will offer special deals to help you save on brokerage fees or possibly avoid them altogether.

Other providers also offer brokerage fee rebates for frequent traders. For example, if an account holder makes more than a specified number of trades per month, such as 30, all the brokerage fees payable for those trades may be refunded to their trading account at the end of the month.

Such offers can help you improve your bottom line when trading shares online, so it’s worth keeping an eye out for any brokerage deals and discounts.

Are there any other fees when trading shares?

While brokerage fees are the major cost you need to consider when comparing share trading platforms, you should also be aware that other fees may apply. For example, you may need to pay a monthly fee to become a premium member of a share trading platform. This could allow you to access live market data, the latest market news and analysis or stock research and recommendations.

Other common fees include:

  • Inactivity fee: Some brokers charge a monthly or annual fee if you don’t hit a certain number of trades each month.
  • Currency conversion fee: This fee is charged to convert INR to another currency in order to trade global stocks.
  • Custody fee: This annual fee is charged when you trade US stocks and paid to the custodian broker for holding your stocks.

Read the terms and conditions of an online stock broking platform to find out what those ongoing fees are and how they will affect you.

How do I compare cheap stock brokers?

As well as brokerage fees, there are several other features you should compare when choosing an online share trading platform, including:

Other fees

It’s also important to compare whether there are any ongoing fees you will need to pay to maintain your account, such as a monthly management fee or a fee to allow you to access dynamic market data. In addition, remember to check whether special options such as stop loss orders or phone trades attract extra fees.

Market access

Compare the number of global markets each platform allows you to access to buy and sell shares. In addition to the NSE, BSE and other Indian stock exchanges, many providers also allow you to trade on stock exchanges in New York, London, Tokyo and many other countries around the world.

Market data

In the fast-paced world of share trading, accessing up-to-date market data could be critical to the success of your trades. Check whether you will be able to access static, live, dynamic or real-time data, and whether this attracts any extra fees.

Order options

Compare the options each provider offers for placing buy and sell orders. Can you place limit and market orders? Are stop loss orders available to help you minimise investment losses?

Ease of use

Try out any share trading platform you are considering using to work out how easy it is to use on a daily basis. Most providers offer free demo accounts to help you sample their services.

Access options

As well as an online platform, can you place trades over the phone or on the go using a smartphone or tablet app? Also consider whether the trading system is a web-based platform or whether it requires you to download any software.

Customer support

Make sure you can easily contact the share trading platform provider if you ever have a question about your account or a problem with a trade. Look for phone, email and live chat support, as well as online learning centres and education tools.

By considering all of the above factors, you should be able to find the best cheap stockbroker for your online share trading needs.

Want to learn more about share trading?

Check out our comprehensive guide to share trading here.

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

More guides on Finder

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy Policy and Terms.

Questions and responses on are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site