Brokers · Lowest brokerage
Lowest brokerage demat account in India
Delivery brokerage plus flat order charge. Cost-first, disclosed, and informational, not a recommendation to open any specific account.
The answer
The lowest-brokerage demat accounts in India are flat-fee discount brokers that charge zero rupees on equity delivery and a fixed 20 rupees per executed order on intraday and F&O regardless of trade size, so your per-trade cost does not rise as your order value grows.
BazaarBaaziSource & method
The picks3 brokers
Ranked on delivery brokerage plus flat order charge. Statutory charges (STT, exchange, GST, stamp) are the same across brokers and sit on top of the brokerage below.
Top pick · Zero delivery brokerage, 20 per order on intraday and F&O
Zerodha
The original flat-fee discount broker, trusted at scale with a 300 per year AMC.
#2 · Zero delivery brokerage, 20 per order on intraday and F&O, zero AMC
Groww
Zero AMC and zero delivery mean a small portfolio pays almost nothing to exist.
#3 · Zero delivery brokerage, 20 per order on intraday and F&O, zero AMC
Dhan
Zero AMC and flat-fee trades with a trader-first interface for active users.
What you actually pay
The brokerage is only part of the cost. For an apples-to-apples view, add the statutory charges, which do not vary by broker.
Charges are the published flat-fee structures of the named discount brokers and are indicative for 2026. Verify the current rate card on the broker site before opening an account.
FAQ3 reader questions · AEO-eligible
The editorial line, distilled. Schema-marked for AI Overview and reader search.
Which broker has the lowest brokerage in India?
Flat-fee discount brokers that charge zero on equity delivery and a fixed 20 rupees per executed order on intraday and F&O are at the cost floor for brokerage. Among these, brokers with zero AMC such as Groww and Dhan also eliminate the annual holding charge, making the total cost of a buy-and-hold portfolio close to zero beyond statutory charges.
Do all discount brokers charge the same brokerage?
Most major Indian discount brokers have converged on zero delivery brokerage and a flat 20 rupees per executed order on intraday and F&O. The real differentiation is the annual maintenance charge. Groww and Dhan charge zero AMC; Zerodha charges 300 rupees per year; Upstox charges a low AMC, often waived the first year; Angel One uses a conditional AMC that can become a monthly charge after year one.
Does zero brokerage mean zero cost per trade?
No. Even on zero-delivery plans you still pay statutory charges on each transaction: STT (securities transaction tax), exchange transaction charges, GST and stamp duty. These are set by regulation and are the same across all brokers. Zero brokerage means the broker's own fee is zero, not that the trade is free.
Other use cases
Hub
Best demat accounts
All use cases
F&O
Best demat for F&O
Lowest all-in cost per lot for futures and options traders.
Beginners
Best demat for beginners
Simplest app and onboarding for a first-time investor.
Delivery
Best demat for long-term investing
Cheapest to buy and hold equity delivery for years.
Intraday
Best demat for intraday
Lowest cost and fastest fills for active intraday traders.
Mutual funds
Best demat account for mutual funds
Accounts that let you buy direct mutual funds alongside stocks in one place.
Small portfolio
Best demat account for a small portfolio (zero AMC)
Zero or near-zero annual charges for investors holding a few stocks.
MTF and margin
Best demat account for MTF and margin trading
Platforms with margin trading facility and competitive pledging for leveraged equity positions.
Swing trading
Best demat account for swing trading
Low per-trade cost and strong charting for holding positions for days to weeks.