Choosing the right stock broker is one of the most important decisions for any investor.

Why?

👉 Because brokerage charges directly affect your profits.

If you are paying high fees, your returns will reduce — especially in trading.

So the big question is:

👉 Which stock broker has the lowest brokerage in India?

In this detailed guide, we compare top brokers and help you choose the cheapest and best one.

✅ Quick Answer

👉 Cheapest overall → Groww (₹0 AMC)
👉 Best for trading → Zerodha / Upstox
👉 Best for research → Angel One

👉 If you are just starting:
Best Demat Account for Beginners in India

📊 What is Brokerage?

Brokerage is:

👉 The fee you pay to your broker when you:

• Buy shares
• Sell shares
• Trade intraday or F&O

👉 Learn basics:
Difference Between Demat Account and Trading Account (Beginner Guide)

📊 Types of Brokerage in India

1. Percentage-Based Brokerage

• Used by traditional brokers
• Expensive

2. Flat Fee Brokerage

• ₹20 per order
• Used by discount brokers

👉 Most popular today

👉 Understand cost fully:
Demat Account Charges in India (2026 Guide)

🏆 Top Stock Brokers with Lowest Brokerage

Let’s compare the best options in India.

1️⃣ Groww

Charges

• Account opening → ₹0
• AMC → ₹0
• Delivery → ₹0
• Intraday/F&O → ₹20

Best For

• Beginners
• Long-term investors

👉 Full details:
Groww Brokerage Charges Explained

2️⃣ Zerodha

Charges

• Account opening → ₹200–₹300
• AMC → ₹300/year
• Delivery → ₹0
• Intraday/F&O → ₹20

Best For

• Serious investors
• Traders

👉 Full guide:
Zerodha Brokerage Charges Explained

3️⃣ Upstox

Charges

• Account opening → ₹0–₹200
• AMC → ₹0–₹300
• Delivery → ₹0
• Intraday/F&O → ₹20

Best For

• Active traders
• Fast execution

👉 Compare here:
Upstox vs Angel One

4️⃣ Angel One

Charges

• Account opening → ₹0
• AMC → ₹0–₹240
• Delivery → ₹0
• Intraday/F&O → ₹20

Best For

• Beginners
• Research support

👉 Detailed comparison:
Best Discount Broker in India (Zerodha vs Groww vs Upstox vs Angel One)

📊 Brokerage Comparison Table

💰 Real Cost Example (IMPORTANT)

Let’s say:

👉 You trade ₹1,00,000 intraday

Charges:

• Brokerage → ₹20
• Other charges → ₹20–₹40

👉 Total cost = ₹40–₹60

👉 Calculate yourself:
Brokerage Calculator

⚠️ Hidden Charges You Must Know

Many beginners only see brokerage.

But actual cost includes:

• STT
• GST (18%)
• Exchange charges
• DP charges

👉 Learn full details:
Is Demat Account Free in India? Hidden Charges Explained

📈 Lowest Brokerage for Different Users

👉 For Beginners

👉 Groww is best

Because:

• Zero AMC
• Simple interface

👉 For Intraday Traders

👉 Zerodha / Upstox

👉 Read:
Best Broker for Intraday Trading in India

👉 For Long-Term Investors

👉 Groww

👉 Guide:
Which Demat Account is Best for Long-Term Investment in India?

🧠 Important Strategy (HIGH IMPACT)

👉 Don’t choose broker only based on brokerage

Also consider:

• Platform speed
• Features
• Ease of use

👉 Compare platforms:
Zerodha vs Groww vs Upstox (Complete Comparison Guide)

🔄 Can You Use Multiple Brokers?

Yes.

Many investors use:

• Groww → Investing
• Zerodha → Trading

👉 Learn:
How Many Demat Accounts Can a Person Have in India?

👉 Also:
Can You Have Two Demat Accounts with the Same Broker?

💡 Beginner Tip

If you are starting with small money:

👉 Don’t overthink brokerage

Focus on:

• Learning
• Consistency

👉 Start here:
How to Start Investing in Stock Market with ₹1000

⚠️ Common Mistakes to Avoid

❌ Choosing broker only on ads

Always compare real charges

❌ Ignoring AMC

AMC adds cost over time

❌ Overtrading

More trades = more charges

❌ Ignoring hidden charges

Always calculate full cost

📊 Which Broker is Truly Cheapest?

👉 Groww is cheapest overall

Because:

• Zero AMC
• Zero delivery charges

👉 But for trading:

👉 All brokers are similar (₹20 per order)

🏁 Final Verdict

👉 Best lowest brokerage broker → Groww

👉 Best trading broker → Zerodha / Upstox

👉 Best overall choice:

• Beginner → Groww
• Trader → Zerodha

👉 Start here:
Best Demat Account for Beginners in India

❓ FAQs

Which broker has lowest brokerage in India?

Groww offers the lowest overall cost due to zero AMC.

Is Zerodha cheaper than Groww?

No, Zerodha has AMC charges.

Which broker is best for intraday?

Zerodha and Upstox are best.

Is brokerage same for all brokers?

Mostly ₹20 per order for discount brokers.

Can I change broker later?

Yes, anytime.

👉 Must read:
Groww vs Zerodha Charges (Full Comparison)