Brokers · MTF and margin
Best demat account for MTF and margin trading in India
Flat intraday brokerage plus MTF interest rate. Cost-first, disclosed, and informational, not a recommendation to open any specific account.
The answer
For margin trading and the Margin Trading Facility (MTF) the most relevant broker costs are the flat 20 rupees per executed order on intraday positions plus the MTF interest rate on the funded portion, so a flat-fee broker minimises the per-trade cost while you compare MTF rates separately.
BazaarBaaziSource & method
The picks3 brokers
Ranked on flat intraday brokerage plus mtf interest rate. Statutory charges (STT, exchange, GST, stamp) are the same across brokers and sit on top of the brokerage below.
Top pick · 20 per order on intraday, 0.03 percent or 20 whichever lower
Zerodha
Flat per-order cost and a mature platform with well-documented margin and pledging rules.
#2 · 20 per order on intraday, 0.05 percent or 20 whichever lower
Upstox
Fast order flow for leveraged intraday positions with a low AMC that is often waived the first year.
#3 · 20 per order on intraday, 0.03 percent or 20 whichever lower
Angel One
Flat-fee intraday pricing with a broad margin facility backed by a full-service broker's infrastructure.
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.
What is the brokerage on MTF trades?
MTF positions are typically carried as delivery or funded intraday and the brokerage depends on how the broker classifies the trade. Most flat-fee discount brokers charge 20 rupees per executed order or a capped percentage. The more significant ongoing cost is the MTF interest rate on the funded portion, which varies by broker and is separate from brokerage.
Which broker is best for margin pledging?
All major SEBI-regulated discount brokers support pledging of approved securities as margin collateral. The relevant factors are the list of approved securities, the haircut applied, and whether the broker charges a fee to pledge or unpledge. Compare the pledge fee and the MTF interest rate, not just the per-order brokerage.
Is margin trading risky?
Yes. Margin and MTF amplify both gains and losses. If a position moves against you, the broker can issue a margin call and square off positions to recover the funded amount. SEBI-mandated peak margin rules apply across all brokers. Understand the margin requirement and the interest cost before using MTF.
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