Zero brokerage is no longer a foreign concept in the field of stock broking as there are several stockbrokers out there in the market that enable traders and investors to trade in stock without paying a single paisa as brokerage. This type of broking comes under the purview of zero brokerage trading accounts. At a time when traders and investors look for the best deals from stockbrokers, they always look for top zero brokerage platforms.
What Does Brokerage Mean?
Brokerage refers to an amount that is levied from the stockbroker as a certain percentage of trade value. This implies that a trader or equity investor with large volumes will pay a higher fee. Zero-delivery brokerage accounts are not widely available for equity traders in India’s online brokerage industry.
What is Brokerage-free Stock Trading in India?
Equity trading refers to the buying or selling of securities on an exchange. The buy or sell transaction may take the form of an ETF purchase or sale, an intraday trade, an options trade, or a delivery deal. The stock broker offers traders a platform and covers the cost of the internet infrastructure with a commission or brokerage.
Some broker-friendliness brokerages waive commissions on specific transactions, such mutual fund investments and equities delivery trades. For trades made on a platform, an investor with a free brokerage account will not be assessed a commission.
Zero brokerage trading accounts have become more popular as a result of the growing number of investors. The rise in retail investor numbers was the primary cause of the emergence of discount brokers. Discount brokers charge little for their fundamental trading services. Discount brokers charged a modest or reasonable brokerage. As the number of investors continued to rise, stockbrokers began to provide trading accounts with no brokerage fees.
Top Zero Brokerage Trading Accounts in India For 2024
Below is a list of top zero brokerage trading accounts in India you can choose from.
1. Zerodha
Zerodha is undoubtedly a pioneer in Indian stockbroking landscape. It is one stockbroker who brought the concept of discount stock broking in India and still leading the way. Apart from offering a feature-rich trading platform, the discount stockbroker allows its clients to trade in equity, commodity, currency, futures & options, IPO, government securities, bonds, and direct mutual funds.
Zerodha offers 3-in-1 account opening feature which means you can open trading account, Demat account, and a savings account in one go. There are 0 account opening charges with Zerodha. However, the annual maintenance charges (AMC) for trading account and Demat account.
Account Opening Charges
| Transaction | Fee |
| Trading Account Opening Charges (One Time) | Rs 0 |
| Trading Annual Maintenance Charges AMC (Yearly Fee) | Rs 0 (Free) |
| Demat Account Opening Charges (One Time) | Rs 0 |
| Demat Account Annual Maintenance Charges AMC (Yearly Fee) | Rs 300 |
Brokerage Charges
| Segment | Brokerage Fee |
| Monthly Fee (Fixed) | |
| Equity Delivery | Rs 0 (Free) |
| Equity Intraday | Rs 20 per executed order or .03% whichever is lower |
| Equity Futures | Rs 20 per executed order or .03% whichever is lower |
| Equity Options | Rs 20 per executed order |
| Currency Futures | Rs 20 per executed order or .03% whichever is lower |
| Currency Options | Rs 20 per executed order |
| Commodity Futures | Rs 20 per executed order or .03% whichever is lower |
| Commodity Options | Rs 20 per executed order |
2. Upstox Trading Account
Upstox is known for its technology-driven discount stockbroking services to its clients who can invest in equities, commodities, futures, currency, and options. The stockbroker is backed by a group of investors like Ratan Tata, Kalaari Capital, and GVK Davix.
For equity delivery trading, Upstox charges a brokerage of Rs 20 or 2.5% of trade value, whichever is lower. For equity intraday, equity futures, currency futures, and commodity futures, the price is Rs 20 or 0.05%. The company charges a flat brokerage fee of Rs 20 for options. There aren’t any hidden fees associated with the company’s brokerage services.
One can open both trading account and Demat account with Upstox. The account opening charges are described below.
| Transaction | Fee |
| Trading Account Opening Charges (One Time) | Rs 0 (Free) |
| Trading Annual Maintenance Charges AMC (Yearly Fee) | Rs 0 (Free) |
| Demat Account Opening Charges (One Time) | Rs 0 (Free) |
| Demat Account Annual Maintenance Charges AMC (Yearly Fee) | Rs 150 |
Upstox Brokerage Charges
| Segment | Brokerage Charges |
| Monthly Fee (Fixed) | NA |
| Equity Delivery | Rs 20 per executed order or 2.5% whichever is low |
| Equity Intraday | Rs 20 per executed order or 0.05% whichever is lower |
| Equity Futures | Rs 20 per executed order or 0.05% whichever is lower |
| Equity Options | Rs 20 per executed order |
| Currency Futures | Rs 20 per executed order or 0.05% whichever is lower |
| Currency Options | Rs 20 per executed order |
| Commodity Futures | Rs 20 per executed order or 0.05% whichever is lower |
| Commodity Options | Rs 20 per executed order |
3. IIFL Securities Trading Account
IIFL is counted among top full-service stockbrokers in India. It offers trades and investors to invest in equity, derivatives, commodities, currencies, mutual funds, IPO, FD, bonds, alternative investment funds, and portfolio management services.
Numerous value-added services, like intraday trading calls, professional research reports, and dedicated RM, are available for free with the IIFL brokerage plan. Due to this, the plan is very competitive when compared to the most popular Rs. 20 discount brokerage plans offered by leading brokers such as Upstox, Zerodha, and 5paisa.
Account Opening Charges
| Trading Account Opening Charges: | Free |
| Trading Account AMC: | Free |
| Demat Account Opening Charges: | Free |
| Demat Account AMC: | Rs 250 PA (Free for 1st year) |
Brokerage
The brokerage charges levied by IIFL Securities under its iSERVE Brokerage Plan are:
| IIFL Securities IIFL iSERVE Brokerage Plan | |
| Category | Brokerage |
| Plan Name | IIFL iSERVE Brokerage Plan |
| Monthly Plan | NA |
| Equity Delivery | Flat Rs 20 per order |
| Equity Intraday | Flat Rs 20 per order |
| Equity Futures | Flat Rs 20 per order |
| Equity Options | Flat Rs 20 per order |
| Currency Futures | Flat Rs 20 per order |
| Currency Options | Flat Rs 20 per order |
| Commodity | Flat Rs 20 per order |
4. SAS Online Trading Account
Another player in the field of zero brokerage trading accounts in SAS Online. The discount stock broker offers a full-fledged solution for PRO traders looking for technology-rich tools, minimal downtime, dependable customer support, and great brokerage package.
SAS Online account opening charges are capped at Rs 200 in the case of a trading account and Rs 0 for Demat account. SAS Online charge For Individual-Rs 200 (Free for the 1st year) | Non Individual-Rs 1000 AMC for Demat account.
Account Opening Charges
| Transaction | Charges |
| Trading Account Opening Charges | Rs 200 |
| Account AMC Charges | Rs 0 |
| Demat Account Opening Charges | Rs 0 |
| Demat AMC (Yealy) | For Individual-Rs 200 (Free for the 1st year) | Non Individual-Rs 1000 |
Brokerage
| Segment | Brokerage Fee |
| Monthly Fee (Fixed) | |
| Equity Delivery | Rs 9 |
| Equity Intraday | Rs 9 |
| Equity Futures | Rs 9 |
| Equity Options | Rs 9 |
| Currency Futures | Rs 9 |
| Currency Options | Rs 9 |
| Commodity Futures | NA |
| Commodity Options | NA |
5. Angel One
Setup in 1987, Angel One is considered among the biggest full–service retail brokers in India that offer online discount brokerage services. The stockbroker offers an extensive range of investment and trading services including stock and commodity broking, margin funding, investment advisory services, loans against shares, and distribution of various financial products.
In order to compete with inexpensive stock brokers like Zerodha, Angel One redesigned their brokerage programs in November 2019. The “Angel iTrade PRIME” flat rate brokerage plan is now available from Angel One. With the exception of equity delivery, which is offered free of charge to all users, this plan allows trading in all market sectors (intraday, foreign exchange, currencies, and commodities) for a fixed fee of Rs 20 per deal. It is the same straightforward charge for all segments and exchangers.
Account Opening Charges
| Transaction | Charges |
| Trading Account Opening Charges | Rs 0 (Free) |
| Account AMC Charges | Rs 0 (Free) |
| Demat Account Opening Charges | Rs 0 (Free) |
| Demat AMC (Yealy) | Rs 240 |
Brokerage
| Segment | Brokerage Fee |
| Monthly Fee (Fixed) | |
| Equity Delivery | Rs 0 (Free) |
| Equity Intraday | Rs 20 per executed order |
| Equity Futures | Rs 20 per executed order |
| Equity Options | Rs 20 per executed order |
| Currency Futures | Rs 20 per executed order |
| Currency Options | Rs 20 per executed order |
| Commodity Futures | Rs 20 per executed order |
| Commodity Options | Rs 20 per executed order |
Also read: Top 20 Share Brokers in India
The Conclusion
If you are looking for top zero brokerage platforms for trading, the best way forward is to search and compare different zero brokerage trading accounts. Check out their features along with other services being offered by them. Pay careful attention to the research services being offered by them. Security is another crucial aspect that you can’t afford to ignore. This way, you can find out the best stock trading apps in 2024 for your trading and investment needs.
By Thetopstockbroker | August 13, 2024
Disclaimer: Information given in this article is for guidance only. we have intention to educate new investors. It is recommended to do proper research by investors before investing.