Comparison Table of Brokerage Charges in India

Here you will find a table comparing intraday brokerage charges and delivery brokerage charges charged by different online brokers in India : Sharekhan, ICICIdirect, Motilal Oswal, Religare, SBICAP Securities, Angel Broking, 5paisa, Indiabulls, UTI Securities, HDFC Securities, Indiainfoline, Reliance Money. I constantly try to update this table and try to keep it upto date, so if you have any more information, please leave a comment. It is also important that you read the remarks below the table to get a complete picture.


Online Broker
Brokerage for Delivery
Brokerage for Intraday trading
MMC*
SBICAP Securities
brokerage charges
0.50%
0.10%
NIL
Sharekhan
brokerage charges
0.03% - 0.50%
0.03% - 0.10%
NIL
Motilal Oswal
brokerage charges
0.30% - 0.50%
0.03% - 0.15%

5 paisa
brokerage charges
0.25% - 0.85%
0.07%

Angel Broking
brokerage charges
0.50%
0.02% - 0.03%

ICICI direct
brokerage charges
0.75%
0.15%

Indiabulls
brokerage charges
0.25% - 0.50%
0.05% - 0.10%

HDFC Securities
brokerage charges
0.50%
0.15%

UTI Securities
brokerage charges
0.80%
0.15%

Religare
brokerage charges
0.20% - 0.30%
0.02% - 0.03%

Reliance Money
brokerage charges
0.01%
0.01%
card system
Geogit
brokerage charges
0.30%
0.03%

Indiainfoline
brokerage charges
0.50%
0.10%
-
MMC=Minimum monthly commitment.

  • Brokerage is usually negotiable: Several of you trying to choose an online broker and open an online trading account must have been frustrated trying to search for the exact brokerage charges charged by various online brokers. But the fact is the brokerage charged by the same broker varies and in several cases is negotiable. For example if you go and tell a brokerage house that you are going to deposit 2 lakh rupees and try to convince them you are going to trade heavily, they might consider reducing your brokerage. That is why in the above table you will find only a range for the brokerage charges in some cases. But that should be enough to get an idea.
  • Effective brokerage with taxes is more: In addition to the above brokerage charges you will have to pay STT (Securities Transaction Tax) at the rate or 0.02% of the total transaction amount. You will also be charged 12.5% Service Tax on the brokerage amount (and not on the transaction amount). For example, if your brokerage is 0.50% for delivery and you do a delivery transaction of Rs.100/- then the total brokerage you pay is
    0.50 (brokerage) + 0.02 (stt) + 0.063 (service tax) = 0.58 .
    Thus your effective brokerage (including all taxes) will be 0.58%. Similarly for brokerage on intraday transactions.
  • One may also like to compare brokerages charged by the online brokers mentioned above for trading in futures and options. I have traded options on SBICAP securities and have been charged Rs.100/- flat brokerage fee for every options trade. I will probably find out and also add a comparison table for brokerage charges for trading derivatives (futures and options) later, if i see enough people google searching for the same. For futures, some online brokers charge different brokerage for different legs of the trade, i.e. different for buy and sell trade.
  • Except SBICAP Securities, I do not have any other trading account. So my information is gathered from indirect sources. In case there are any inacurracies please let me know by posting a comment.

Aug 30, 2008

70 comments:

Anonymous November 25, 2008 at 8:38 PM  

I would really appreciate if you caould provide a similar comparative table of brokerages charged by various brokerage firms on OPTIONS (F&O) i.e. stock options and NIFTY Options.

Thnaks in advance

Raj

iinvestor November 26, 2008 at 8:38 AM  

@raj i'll have to contact each broker and then get the rates from each of them. This will require some time & patience. I already have this in my to-do list. but may take a while

GP November 26, 2008 at 9:18 PM  

Can you please tell us about the charges for DBS Cholamandalam

Anonymous December 19, 2008 at 7:24 PM  

dude nice work....but can u suggest the better firm in
terms of online trading software, bcoz i heard that there is problem with icici direct soft..it often breaks down....and how is SBICAP securities?

iinvestor December 19, 2008 at 7:51 PM  

@anonymous
I have had no problems with software or connection of sbicap securities. However there are minor problems for example, it doesn't work on linux (works fine) in windows) etc. Also if you are going to do heavy intraday trading then perhaps you can also talk to someone who has accounts with sharekhan, or motilal oswal and other brokers.

Anonymous February 7, 2009 at 9:59 PM  

"I have traded options on SBICAP securities and have been charged Rs.100/- flat brokerage fee for every options trade. "

I could not understand this Please explain this sir.

Anonymous February 11, 2009 at 3:54 AM  

please guide me with whom i need to open my account for online trading. i ll invest only 1 laks.

iinvestor February 11, 2009 at 4:46 AM  

@anon it is hard for me to give a definite answer or guidance. All i can say is that I am pretty happy with sbicap securities. However if you are planning to do intraday trading then perhaps sharekhan or other brokerage firm would be better. This comes with a disclaimer that i have personally not tried sharekhan.

Prasad April 11, 2009 at 8:13 PM  

Great job iinvestor, the info you have provided is amazing. Thanks a lot.

I would like to provide feedback for icicidirect here: the brokerage for icicidirect is 0.76% The total incl taxes comes to 0.85%
The brokerage is more when you sell shares received through an IPO. (No brokerage for shares alloted through IPO)

I have put up with ICICI for almost 4 years now but now I have had enough of their bullshit. The customer service sucks and they arbitrarily charge you without prior notice. This is true with ALL icici products (I have a savings ac, demat-cum-trading ac, a housing loan and credit card) and have always had issues regarding charges...and the customer care is truly good at playing around with words....for people who do not understand the english language well, they truly mislead you, that is, if you get through to them in the first place.

Now that SBI is coming up well, I am really happy to see a nationalised bank providing at par services. I have decided to shift all that I can to SBI. I really feel safe because with SBI, what you see is what you get... and they dont play around with words.

In fact, thats what made me visit your site in the first place...thank you once again.

Just a couple of questions:
1. Does SBICAPSEC/Motilal Oswal allow you to trade in all shares of BSE and NSE (at least those covered by ICICIDirect) or are there any limitations?
2. Can you allocate money to your sbicapsec demat/trading account from an SBI NRE account? (In case you have this info)

Thanks in advance,
Prasad

iinvestor April 12, 2009 at 8:33 AM  

Yes, you can trade in shares on NSE as well as BSE, just be careful to choose this option when you open an account.

I am not aware of info about NRE account.

Rupesh May 20, 2009 at 10:25 AM  

this is truly a great review...
appreciate your work a lot.
Please correct SBI intrday chrges,
it is 0.15% or 5 paise whichever is higher (thats what SBI customer care told me)

Shailesh Joshi May 24, 2009 at 12:39 AM  

Hello,

do you have to choose (for SBICAP) for which specific exchange you want to open a trading account? What if someone wants to trade on the BSE and the NSE simultaneously?

Russell May 26, 2009 at 12:26 AM  

I am really thankfull to you for this valuable information. I dont what is your name but i really apprecate your efforts. This information was very helpfull to me to figure out how much brokerage i was paying to indiabulls Thanks

Mayank Sangal

mukesh June 9, 2009 at 5:23 PM  

Can you please tell us about the charges for elite stock management ltd (delhi)

DEEPANSHU June 14, 2009 at 3:02 PM  

Hello,
I have opened account with sbi capsecurities and I am very much impressed with their services, even their customer service is very good. I normally do trading in F&O segment and for intraday they charge 50 rupees irrespective of the scrip and 100 rupees if you don't square off your position on the same day, which is far more better than many of the brokerage houses..

R John Christy June 14, 2009 at 3:53 PM  

Hi, Nice work. Please note that India Infoline and 5Paisa are on and the same

Ankit June 18, 2009 at 11:08 AM  

Do you have F&O table? additionally, I thought STT tax has dropped to a0.2%?

x June 19, 2009 at 11:03 PM  

really helpful stuff.
appreciate your work.

jitendrakumar June 27, 2009 at 1:49 PM  

let me tell about which is good for NRI people and how he opens from there place. becos i live in kuwait so i m asking.

thanks a lot for ur invaluable time.
i wait for ur ans.

shares July 7, 2009 at 11:58 PM  

good job iinvestors.. really great getting entire details in single blog....

i came to know www.ventura1.com is charging flat 35rs per lot..but it just like prepaid account...please find the details in the below link:
http://chennaiventura.files.wordpress.com/2009/06/plan-types1.jpg

i am using reliancemoney from past 2years.. interms of brkerage it is less when compared to other brokerage houses..but reliancemoney website is worst i had ever seen...

aloka July 13, 2009 at 10:16 PM  

hi sir
nice review,
but let me tell all people that i'm using HDFC sec and they are really best in all aspect.
whether tarding website, cust care etc.

i recently opened acc with Almondz global. they too r good
with brok of .30 for delivery and .02 for i/d and would dec after my transactions inc.
one good thing is that u have a limit of 10 times of the first amout of cheque you give them.

but drawbak is that only axis, hdfc and icici bank is linked for online fund transfer from acc. for rest banks you have to give cheques for trading limits

ER July 14, 2009 at 12:13 PM  

I notice SBICAPSEC rates quoted are for online and highest slab. I think the normal rate they charge for offline is 0.35 % for delivery and 0.05 % for intra day per leg. I know some guys who get better rates based on business given.

Regarding Prasad 'question'- you can allocate funds from NRE account only if you have an NRI trading account. Else suggest you transfer money from NRE to domestic bank account and then allocate.

Anonymous July 17, 2009 at 4:52 PM  

Awesome work done and really well explained. It would be great if u have options and future brokerage charges also. Thanks a lot.
Ashish
New York

Manoj July 18, 2009 at 8:54 PM  

Could you please publish the MMC od the HDFC Securities.

Thanks in Advance

aloka July 19, 2009 at 11:34 AM  

Dear Mr. manoj there is no MMC for HDFC sec.

but one thing they leg behind is the heavy brok structure, they charge min Rs 25 for each trade wither I/D or Del based.

and besides that they also charge monthly DP charge which is about 0.04% of total turnover.
But they also give complete peace of mind as the trading website is having option for IPO/FD/MF and that too at very good speed:)

aloka July 19, 2009 at 11:37 AM  

Dear Mr. Ashish this the the brok structure of F/O by almondz, but as u reside in NY u please confirm the DP as i think it is diff for NRI's

FUTURE CHARGES
SERVICE TAX ON BROK 10.3

TURNOVER TAX ON FUTURE 0.002 selling only

TURNOVER TAX ON OPTION ( On Premium Value) 0.05 Selling only

OTHER CHARGES(SERVICE TAX) ON TUNROVER CHARED 10.3

Sale of an option in securities(STT) 0.017 per cent Seller

Sale of an option in securities, where option is exercised(STT) 0.125 per cent Purchaser

Sale of a futures in securities(STT) 0.017 per cent Selle

Stamp duty as per state wise
Stamp duty For Delhi 0.01% max Rs.1000

Anonymous July 24, 2009 at 11:55 AM  

Please Reverse charges of reliancemoney ..they have increase their charges to rs 15/- flat on any mode of transaction (If u pay advance brokerage of 500,1000 /- etc)

or their 5 brokerage scheme is :
delivery: 0.45%

intraday: 0.05%

for more info reffer:
reliance money site

Neel Soni August 5, 2009 at 4:34 AM  

thanks lot.
your information is really helpful to me as i want to open my demat.

so pls can u have updated information about trading brokerage so it would be more easy for me to decide.

Thanks n Regrds,
Neel

aloka August 5, 2009 at 10:20 PM  

Dear Mr. Neel all the info above is updated as companies generally dnt change their brok structure oftenly.
so take it as final trade values

Neel Soni August 8, 2009 at 2:59 AM  

hi there,
I would like to open a new DEMAT account in ahmedabad city.
Can you suggest me any one which is good in services as well as good at brokerage-margin.

Quick response would help me in getting good profit.

Thanks
Neel

aloka August 10, 2009 at 12:18 PM  

Dear Mr. neel
if u r a first time investor then do prefer HDFC Sec as they are very good, but expensive too

i recently opened acc with almondz global, they really have very low brok(read my above posts) and good service you can prefer them also.

Jingi - Cool Guy :) August 10, 2009 at 11:12 PM  

i was using IDBI (.40 and .004 paisa). But the interface was not good ..I am sorry to it was timepass product from IDBI.

Recently checked many brokarage houses like Angel, Religere, Sherkhan, i opened account in indiainfoline because

- brokarage ( .25 and .025)
- Life time demat ( no yearly AMC charge like 300 rs in others)
- Good software ( i am using webbased as installed s/w will not work in office :P )
- So far good support

Regards,
Irshad

suvy March 8, 2010 at 3:23 PM  

Does Rs 70 per lot means Rs 70 for buying and Rs 70 for selling a lot?
I have my account in sharekhan..
So how is the brokerage different in intrday and delivery for options trading.

suvy March 8, 2010 at 3:25 PM  

In case of options trading how the brokerage is different can anybody say.I am being charged Rs70 per lot by sharekhan.What does that mean..Rs 70 for buy 1 lot and Rs 70 for selling a lot..us ut so??
Waiting for a reply..thanks in advance..

aloka March 15, 2010 at 9:34 PM  

hi suvy
ya it means rs 70 both times

70 on selling one lot
and 70 on buying one lot


regards
alok aggarwal

Anonymous March 19, 2010 at 3:33 PM  

thanks for your efforts..

sun March 19, 2010 at 4:17 PM  

Hello, we are planning to take a frenchise of renowned broker company. Please can you suggest us which is one of the best in this field in terms of goodwill, business, public interest etc.etc..

pans April 2, 2010 at 7:58 AM  

sharekhan brokerage per annum
if you pay 1lakh in advance for annual brokerage 0.015% for intraday and 0.1% for dely.

D.SARAVANAN April 2, 2010 at 1:34 PM  

saravanan
ADITYA BIRLA OFFERING BEST BOKERAGE 0.025 T0 0.008 PLS CONTACT 9840170974

aloka April 6, 2010 at 11:03 PM  

hi sun
the brokerage house depends upon the area u live, which all brokers are present there

people spending of financial products
which all other brok houses present there.

if u want to take any brok house first be its customer for a month or so or ask any of its customer about the service quality

because here in market many big names are poor in service

moreover big clients go for lower brokerage and small clients go for office looks, services offered etc
type things

so you just choose some and then again post here would surely tell u abt them if i know
:)

kind regards
alok aggarwal

irfan April 16, 2010 at 12:27 AM  

thankfull to you for this valuable information.bt m confused.. where should i open dmat account>??????

dev April 19, 2010 at 10:43 AM  

I wanted to start with trading. Read through your blocks. Please suggest will it be good to go with Angel Broking??.

Awating to open Dmat account and follow market then will try to trade somthing...Please suggest..

Anonymous April 29, 2010 at 2:06 PM  

this is siddharth..if you are a heavy trader either in equity,derivatives or commodity plz contact me at 9899477978 i will give u the best deals in terms of brokerage.

Anonymous May 2, 2010 at 9:20 PM  

hi frnds,
i m utsav,
i saw all ur comments and u guys want a best deal for ur money as i do.
i recent got a best deal from karmic stockbroking pvt.ltd. and services n tips r really goods, it worked for me and i hve earned good bugs as well.
when i toke there advance brokerage scheme, they charge me 2 paise for intraday & F&O, 10 paisa for delivery.
so guys if u like the charge u can contact mr. mohit jain n his mobile no. is 9699500673
Do encash dis opportunity.

GS May 5, 2010 at 10:17 PM  

Good work appreciated :-)

Anonymous May 11, 2010 at 3:55 PM  

really a good work
can u just give a table of comparision of various broking firms providing pms and their amc and brokerage charges

Anonymous May 14, 2010 at 8:37 PM  

Hello Iinvestor, good job dear. It helped me a lot to learn about different firms and respective comments also helped a lot. Thanks from all.

chanthu June 3, 2010 at 1:41 PM  

i would like to start a share trading firm.or start a franchise.what are the procedures.how much it will cost???means i would like to start a business firm.pls help me .......

Siddhesh Samant June 8, 2010 at 11:06 AM  

What about Bonanza Portfolio Ltd.???

ANIL BONANZA June 18, 2010 at 3:25 PM  

why dont u mention abt bonanzaportfolio ltd i heared it a best broking firm in india?

baby joseph June 24, 2010 at 10:32 AM  

karvi charge one lot Rs.132 for buying and selling. if a person sells one nifty on 10 points : 10 * 50 = 500 less (Rs.132 + 132)+ taxes rs.stax 15 +stt rs.45 total effect :324 (approx) the seller get RS.175/- who is getting more the customer or the broker who make more by using our money. (based on nifty 5278 points

theequitymarkets June 26, 2010 at 8:38 PM  

Hi baby joseph

shocking that they charge so high leaving nothing with the trader

so its better to switch to any other brand which gives the same at around 30+30

regards
alok agrawal

jayesh patel June 27, 2010 at 8:19 PM  

can you give me information about trade charge of all company in india

aloka June 28, 2010 at 4:30 PM  

Hi jayesh

for all charges visit site theequitymarkets.com


there you will find complete charges leveid

Regards
Alok

Anjana July 19, 2010 at 4:46 PM  

HI i am anjana her.I am new to share trading.I want to open a demat account..whether i can do with sbi or with sharkhan..plz suggest me...

Anjana July 19, 2010 at 4:48 PM  

HI i am anjana her.I am new to share trading.I want to open a demat account..whether i can do with sbi or with sharekhan..plz suggest me...

Chris Jerome July 24, 2010 at 1:24 AM  

my borker charging minimum 5 paisa brokerage per share. then how to trade the small penny stock??
For ex. when i buy Cals Refineries @ Rs 0.32 paisa i have to pay 5 paisa as brokerage so that the buying cost should be Rs0.37 paisa (that is 15% brokerage).
so i can not buy these small penny stocks. i know i have to change my broker.
someone help me which broker house offering low and brokerage charges based on amount which i invest and not based on per share basis.

mariah August 16, 2010 at 2:23 PM  

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R August 17, 2010 at 1:03 AM  

Angel Broking is charging me a minimum brokerage charge of Rs.30/-
per settlement/contract note , do all the brokerage firms charge this.

mariah August 17, 2010 at 11:54 AM  

Earning money online never been this easy and transparent. You would find great tips on how to make that dream amount every month. So go ahead and click here for more details and open floodgates to your online income. All the best.

JYOTI August 20, 2010 at 12:54 PM  

hi sir/mam,
I would like to open a new DEMAT account in Delhi.
Can you suggest me any one which is good in services as well as good at brokerage-margin and what you say.

Quick response would help me in getting good profit.

Thanks

Anonymous August 24, 2010 at 7:36 AM  

I am looking open demat account and trading using sbicap what would u say

Logique Technologies August 25, 2010 at 11:30 PM  

buy sell old/new books in !ndia
@ http://www.BookBazaar.in

Anonymous August 27, 2010 at 11:26 PM  

the information is really nice. I am actually preparing a project on Edelweiss Demat account and was trying to find the price of other brokers so that I can compare it. The above table made my work really easy.
Thnxxx...

Anonymous September 6, 2010 at 11:06 AM  

Instead of "% based charges", better go for "per transaction based charges"... otherwise the earlier one will suck our money, whether we make profit or not, since it is charged based on the overall transaction amount, irrespective of whether one make a profit/loss....

do check RK global.. which is charging Rs.9/- per transaction...
http://www.rkglobal.net/Services/WhatWeOffer.asp

Share October 8, 2010 at 4:21 PM  

This table data aprox. one year old (today 08-Oct-2010) according to reliance money present % because give reliance money % aprox one year old.

Who will update this.

Renu November 1, 2010 at 6:00 PM  

Hello all i have found a new firm by name ZERODHA.. i am their client from past two moths and they are really doing in terms of service, brokerage charges ant technical support..i opted them after an analysis from the mentioned firms in the posts above..their brokerage charge is just rs20/- irrespective of whatever the trade size is as well as the trade type..this is my opinion if any one wants know more can just refer them by their website address www.zerodha.com..

this is based on my analysis..anybody can just go through it before accepting to my point of view..

ravi February 27, 2011 at 10:56 PM  

thanks for the wonderful comparison of the rates. I am a beginner, and would need some advice on how to invest wisely and learn to understand the market.

Qay June 17, 2011 at 11:01 AM  

I hav been planning to invest for some time now but the thing is I m not well versed with trading so my obvious strategy wud b to invest low amt for sometime to get the feel and insight Now the problem most of my frnds who do trading dont hav idea abt wat fee the brokerage;which is icicidirect invariably, is charging and they r invest low amts and happy with 4-5% profit but wat I hav observed is lions share is taken away by d brokerage On their site they hav said their fee is .75% but wen I calculated %age charged for 3 random transactions it came out to around a whopping 2.7%This cant b erroneous can anybody explain the 'hidden charges' I m really perplexed
thanks in advance

Anonymous June 17, 2011 at 2:19 PM  

This is very helpful. Going forward if you could rates from more brokerage farms like Ventura, Oswal...

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