Online investing in India has seen explosive growth over the past decade. With the surge of digital-first investors and tech-savvy traders, online brokerage platforms are constantly evolving to offer competitive pricing, modern interfaces, and powerful tools. One of the most important factors for investors when choosing a broker is the brokerage fee structure.

In this guide, we compare the top online brokerage fees in India and evaluate which platforms offer the best value for beginners, active traders, and long-term investors alike.

What Are Brokerage Fees?

Brokerage fees are charges that brokers collect for facilitating trades—buying or selling stocks, mutual funds, derivatives, or other securities. These fees can significantly impact your returns, especially if you trade frequently.

Common Types of Brokerage Charges:

  • Equity Delivery Brokerage: For buying shares and holding them beyond a day

  • Equity Intraday Brokerage: For same-day buy and sell

  • F&O Brokerage: Charges for trading futures and options

  • Account Maintenance Charges (AMC): Annual fees for Demat account

  • Transaction/Other Charges: Clearing fees, GST, SEBI charges, stamp duty, etc.

Top Online Brokers in India – Fee Comparison

Let’s take a closer look at the most popular online brokerage platforms in India and how their fee structures stack up.

1. Zerodha – India's Largest Discount Broker

Brokerage Charges:

  • Equity Delivery: ₹0

  • Equity Intraday & F&O: ₹20 or 0.03% per executed order (whichever is lower)

  • AMC: ₹300/year

Pros:

  • Industry leader in low-cost brokerage

  • Highly reliable platform (Kite)

  • Free direct mutual fund investments

Best For: Long-term investors and frequent traders looking for value

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2. Upstox – Fast-Growing Discount Broker Backed by Ratan Tata

Brokerage Charges:

  • Equity Delivery: ₹20 or 2.5% (whichever is lower)

  • Intraday & F&O: Flat ₹20 per trade

  • AMC: ₹249/year (free for the first year)

Pros:

  • Fast mobile platform

  • Free Demat account for the first year

  • Access to IPOs, mutual funds, and US stocks

Best For: Budget-conscious traders seeking mobile trading features

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3. Grow – User-Friendly Platform for Beginners

Brokerage Charges:

  • Equity Delivery: ₹20 or 0.05% (whichever is lower)

  • Intraday: ₹20/order

  • AMC: ₹0

Pros:

  • Clean and simple UI

  • No annual maintenance fees

  • Popular for direct mutual fund investments

Best For: New investors entering the stock market

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4. Angel One (formerly Angel Broking) – Full-Service Broker With Discount Pricing

Brokerage Charges:

  • Equity Delivery: ₹0

  • Intraday & F&O: ₹20 per order

  • AMC: ₹240/year

Pros:

  • Offers research reports and advisory services

  • Full-service benefits at discount prices

  • Integrated commodity trading

Best For: Investors who need expert research along with affordable trading

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5. ICICI Direct – Trusted Traditional Broker

Brokerage Charges (I-Secure Plan):

  • Equity Delivery: 0.55%

  • Intraday: 0.275%

  • F&O: ₹50 to ₹95 per order

  • AMC: ₹700/year

Pros:

  • Integrated with ICICI Bank

  • Research-backed advisory

  • Ideal for conservative investors

Cons:

  • Expensive compared to discount brokers

Best For: HNI and conservative investors valuing trust and support

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6. HDFC Securities – Reliable and Feature-Rich

Brokerage Charges:

  • Equity Delivery: 0.50%

  • Intraday: 0.05%

  • F&O: ₹20 to ₹25 per order

  • AMC: ₹750/year

Pros:

  • Strong banking-brokerage integration

  • Comprehensive research tools

  • Trusted brand

Best For: Existing HDFC Bank customers wanting convenience

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Which Brokerage Platform Offers the Best Value?

The best online brokerage for you depends on your trading style, frequency, and service expectations. Here’s a breakdown by investor type:

For Long-Term Investors (Low Volume, Buy & Hold):

  • Best Choice: Zerodha or Grow

  • Why: ₹0 delivery charges, low maintenance, no hidden fees

For Intraday Traders (High Volume):

  • Best Choice: Upstox or Angel One

  • Why: Flat ₹20/order pricing structure is ideal for active trading

For Investors Needing Advisory/Research:

  • Best Choice: Angel One or ICICI Direct

  • Why: Offer research reports, portfolio advisory, and personalized services

For Beginners and First-Time Investors:

  • Best Choice: Groww

  • Why: User-friendly interface, ₹0 AMC, good educational content

Hidden Costs to Watch Out For

While comparing brokerage fees, it’s essential to consider hidden charges that may affect your actual cost:

  • DP Charges: Charged per scrip on selling (₹13.5 – ₹20)

  • Call & Trade Charges: Fee for phone-based orders (₹20 – ₹50)

  • Fund Transfer Charges: Some brokers charge for payment gateway usage

  • Platform Fees: Charges for using advanced charting tools or APIs

Tip: Always read the broker’s pricing disclosure document and use a brokerage calculator to estimate costs.

Conclusion

Choosing the right online brokerage platform in India is crucial to optimize your returns and minimize trading costs. While Zerodha continues to be the leader in value-for-money trading, platforms like Groww, Upstox, and Angel One are giving tough competition by offering user-friendly apps, flat-rate pricing, and free tools.

Whether you’re a casual investor or a seasoned trader, compare not just the fees—but also features, customer support, and additional services. Always factor in transparency, reliability, and ease of use when selecting your ideal broker.