Are There Any Stock Brokers in India That Do Not Charge Any Fees?

Yes, there are stock brokers in India that offer zero-fee or minimal-fee structures. These companies primarily offer zero brokerage on specific types of transactions, especially for equity delivery. Here, we explore the key players in the market and highlight their features and offerings.

1. Shoonya by Finvasia

Shoonya, a popular broker in India, provides absolute zero brokerage across multiple trading segments, including equity delivery, intraday trading, and futures and options (FO) trading.

Sources of Shoonya's popularity include its zero-brokerage model with no hidden charges or conditions, making it highly appealing to both frequent traders and long-term investors. Additionally, Shoonya has introduced an AI-powered tool called IKF, which provides investment signals and insights, adding value for users.

Key Features

Zero brokerage on equity delivery, intraday, and FO trades. No AMC (Annual Maintenance Charges) for Demat accounts. User-friendly trading platform with advanced tools. AI-powered tools for trading insights and market analysis.

Ideal for: Active traders, intraday traders, and long-term investors who want to minimize their trading costs.

2. Zerodha

Zerodha is one of the largest discount brokers in India, known for pioneering low-cost trading. While Zerodha does charge brokerage fees, it offers zero brokerage on equity delivery trades and minimal brokerage (20 per traded order) for intraday and FO trades.

Key Features

Zero brokerage for equity delivery trades. 20 per traded order for intraday, FO, and other segments. Excellent mobile and web trading platforms. Educational resources through Zerodha Varsity and community interaction via TradingQA.

Ideal for: Investors looking for a robust platform with advanced tools and educational resources, especially for delivery-based investments.

3. Upstox

Upstox also offers zero brokerage on equity delivery trades and charges a flat fee of 20 per traded order for intraday, FO, and other segments. Upstox’s platform is renowned for its low latency and reliability, crucial for day traders.

Key Features

Zero brokerage on equity delivery trades. 20 flat fee for intraday and FO trades. User-friendly mobile and web apps. Educational content and community forums for traders.

Ideal for: Investors looking for a simple, low-cost brokerage for delivery-based investments and active traders seeking minimal fees on intraday and derivatives trading.

4. Groww

Groww has quickly gained popularity by offering zero brokerage on equity delivery and charging 20 or 0.05 per traded order (whichever is lower) for intraday and FO trades. The platform's user interface is highly beginner-friendly and is often recommended for new investors entering the stock market.

Key Features

Zero brokerage on equity delivery. 20 or 0.05 per traded order for intraday and FO. Highly intuitive and beginner-friendly platform. Support for direct mutual fund investments and ETFs.

Ideal for: Beginners and passive investors looking for a simple, easy-to-use platform with zero charges on delivery trades.

5. Angel One (formerly Angel Broking)

Angel One, formerly known as Angel Broking, provides zero brokerage on equity delivery trades and charges a flat fee of 20 per traded order on intraday and FO trades. The broker also offers several tiers of services for active traders, including smart recommendations and trade strategies through its ARQ platform.

Key Features

Zero brokerage for equity delivery. 20 per traded order for intraday, FO, and other segments. Free access to research reports and trade recommendations. User-friendly app and web trading platforms.

Ideal for: Both long-term investors and active traders who seek access to research tools and recommendations.

Things to Consider Beyond Brokerage

Even if a broker offers zero brokerage on certain trades, there are several other factors to consider:

Transaction Charges: These include exchange transaction fees, Securities Transaction Tax (STT), and Goods and Services Tax (GST), which are mandated by the government and exchanges and apply to all brokers. Platform Features: Look for features such as mobile trading apps, charting tools, and ease of use. Customer Support: Ensure the broker has a reliable customer support system in case you need help. Hidden Charges: Check for account opening charges, annual maintenance fees, AMC, and any other hidden costs. Additional Services: Some brokers offer additional services like portfolio management, investment in direct mutual funds, and research reports.

Conclusion

While there are stock brokers in India offering zero brokerage on certain trades, most also charge fees in other segments like intraday and FO. Shoonya stands out for providing an absolute zero-brokerage model across all segments, making it highly competitive. Brokers like Zerodha and Upstox also offer low-fee trading with zero brokerage on delivery trades and minimal fees for other segments.

If your priority is minimizing costs and you’re looking for a platform with zero or low fees, you can consider Shoonya or other discount brokers like Zerodha and Upstox based on your trading preferences and investment goals.