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Best Brokers for Equity SIP

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Best Brokers for Equity SIP

If you want to invest in stocks but you are not sure at what price you should buy them, Equity SIP (ESIP) or Stocks SIP is the best for you. Investing in stocks via SIP allows you to park a small amount at regular intervals, avoiding the risk of market timing. There are some brokers that offer investors the SIP feature in stocks to create long-term wealth. Check out a list of 10 best or most popular brokers to start equity SIP.

What is Equity SIP?

Equity SIP stands for Systematic Investment Plan in Shares. Similar to mutual funds, retail investors can start SIP in their choice of stocks whereby they can invest a fixed amount of money at regular intervals, e.g., weekly, monthly, fortnightly, and so on.

SIP is undoubtedly a boon for retail investors as it avoids the risk of buying stocks at a high price. As in SIP, shares are bought at different prices, providing rupee-cost-averaging benefits.

Suppose, you have purchased 30 shares of a company at Rs 100, and on the next SIP installment, the price falls and as a result, you have bought 30 shares at Rs 80, so the average cost of 60 equity shares will be Rs 90.

It is the most convenient, flexible, and disciplined way of equity investment to buy quality stocks. You can start SIP in stocks in two ways: quantity-based (number of shares) SIP and amount-based SIP. In quantity-based SIP, a fixed number of shares at the prevailing price is purchased while in amount-based SIP, a fixed amount is invested periodically.

Many brokers, both discount brokers and full-service brokers, allow SIP in equity stocks on their platform. Here, find a list of the 10 best brokers to start equity SIP in shares. The list of the 10 most popular Stock SIP-providing brokers includes 5 discount brokerages and 5 full-service brokerages.

Best Equity SIP or Stock SIP Brokers

Broker Delivery Reason Account Opening Demat AMC Review Request Callback
  • No minimum investment and additional fees
  • E-mandate for automatic fund transfer to purchase shares
  • Multiple baskets for stock SIPs
  • Shares SIP Frequency: weekly, fortnightly, monthly or daily
  • Over 5000 stocks available for investment
  • User-friendly interface for easy application of stock SIPs
Online Rs 200 (Eq+Curr), Rs 300 (Eq+Curr+Com)Rs 300 PAZerodha ReviewOpen Account
5paisaFlat Fee Rs 20
  • No minimum amount, only the price of each share is the minimum investment
  • Change your shares SIP in the meantime
  • Suggest best performing stocks based on research reports
  • Monitor your stock SIPs easily through the mobile app
  • Research over 4000+ companies
FreeRs 300 PA5paisa ReviewOpen Account
Angel OneFree
  • Stock SIP allows you to put up to 10 stocks in a single basket
  • DIY (do-it-yourself) SIP: Simple and easy
  • Research based stock recommendations
  • Changes in stocks SIP are possible at any time
  • A full-service broker monitors your portfolio and can provide additional financial advice in addition to stock SIPs
  • A convenient way to invest in stocks SIP through a user-friendly trading platform interface
FreeRs 240 PA (Waived for 1st year)Angel One ReviewOpen Account
  • More than 100 stocks are available for Stock Basket
  • The research team continuously monitors your portfolio and provides you with the necessary support in the form of financial services
  • You can start SIP even with only one stock
  • Suggestion of top performing stocks
  • State-of-the-art technology platform enables seamless fund transfer to invest in stocks SIP.
  • Changes in shares without fees and difficulties
FreeRs 400 PA (Free for 1st year))Sharekhan ReviewOpen Account
Paytm Money2.5% or Rs 20 whichever is lower
  • No minimum investment for stock SIP
  • Notification of upcoming SIPs
  • Automatic purchase of shares depending on quantity and pre-set date
  • Shares SIP Frequency: Monthly or Weekly
  • Updating of shares SIP as per your requirement
  • It provides a straightforward process for investing in stocks SIP, which can be monitored through the trading app
FreeFreePaytm Money ReviewOpen Account
Upstox2.5% or Rs 20 whichever is lower
  • With Smallcase you can convert SIPs into stocks
  • Both Stock SIP facilities available:
    1. Quantity basis and 2nd fixed amount basis
  • Automated payment options are available so you don't have to
  • You don't have to manually transfer the money to your account
  • No minimum investment is required for stocks SIP
Promotion offer: FreeFreeUpstox ReviewOpen Account

Zerodha Trade@20

Want to start your investment journey, join India’s Pioneer Discount Broker – ZERODHA – Free Delivery Trade, Maximum Rs 20 for F&O and Intraday, Free Direct Mutual Fund investment.Open Zerodha Account

Benefits of Equity SIP

  • Ideal for long-term investors.
  • Stock SIP can be done from a small amount.
  • Avoid the risk of market volatility
  • Flexibility to modify, pause, and cancel SIP anytime
  • No exit load on the sell of equity investment
  • Collateral against loans

Best Equity SIP Broker - Closing thoughts

If you are looking for discount brokers with an Equity SIP feature, Zerodha and Upstox are the two recommended brokers.

However, if you are looking for a full-service broker to access equity research and stock trading tips also, ICICI Direct, HDFC Securities, and Nuvama (Formerly Edelweiss) are the best equity SIP brokers.


Equity SIP is a viable investment option for small investors. You can invest in small amounts periodically without worrying about the volatility factor of the market. This approach is best for long-term financial goal achievement. Equity SIP provides the following benefits:

  • Based on the concept of Rupee Cost Averaging with this, you are buying Stocks / ETFs on a regular interval, which will average your buying/investment cost. That's the best way of buying stocks for long-term where you don't need to monitor the market every day and wait for the lowest point for investment.
  • The simple and disciplined approach towards investment is done on regular intervals irrespective of the ups and downs of the market. You set up a process or Equity SIP request, orders will take place automatically on specific dates as per your guidelines.
  • Can be started with a small amount of money invested at regular intervals you don't need a big amount to start your investment, you can start as minimum as Rs 1000 per investment cycle. The minimum investment amount will vary from broker to broker, so please refer your broker's policy for Equity SIP.
  • Investment is 100% flexible in terms of the amount or quantity one wish to buy.
  • Minimizes volatility risk.
  • No additional charges and no entry/exit load.
  • No lock-in period, which means you are not bounded, you can sell your holdings any time.
  • Long-term financial goals can be met with SIP.


  • Regular Fund Transfer needs to be planned in your brokerage account. Usually, Equity SIP is not auto funded via direct bank account.
  • Brokerage Charges, as you need to pay the regular brokerage on Equity SIP, if your broker charges, minimum brokerage then you need to pay minimum brokerage for buying 1 or 2 stocks on a regular interval. As well as each script in your Equity SIP Order is considered as a transaction.


You can invest in Equity SIP in two ways amount based or quantity based. All brokers allow you to create multiple SIP request, each request should be either amount based or quantity based, you can mix and match different types in one request.

  • An amount based SIP: In this, you define fixed amount for your investment. It is calculated by dividing the SIP amount by Last Trading Price + Buffer (3%) per share. Rounded of quantity will be finalized by the Equity SIP engine to take the buying call before the Equity SIP Order placing.
  • Quantity based SIP: In this, you define a fixed quantity of shares/ETFs for your investment. On the specified date, the Equity SIP engine will check available fund in your account and place a buy request.

All these requests are submitted to exchange on availability of funds in your trading account.


Equity SIP is a process which you need to set up one time. Let's discuss the steps which you need to take care to set up your process.

  • Login to your broker's online investment portal.
  • Under Equity, you will find Equity SIP or Auto Investor SEP or RSP option.
  • Under this, you need to define a request by selecting the request type as "Fix Amount" or "Fix Quantity", Select Stocks/ETFs, Select Interval.
  • Once you submit your request, the broker will place your Equity SIP Order on your defined date.

The order will be placed as a Market Order only and work same as Cash Market Order.


The Equity SIP request is an authorization given by you to the broker for placing buy orders as per your instructions mentioned in the request.

The orders placed by a broker as per your authorization through the SIP request are called Equity SIP orders.


Yes, both Zerodha and Upstox provide equity stock SIP facility to customers. Customers can start SIP in picked stock to invest a fixed amount or buy a specified number of shares on the scheduled date.


Thanks for your query, buy stock regularly is a good way to average your holding in the long term. The automatic process is called "Equity SIP". Equity SIPs allow investors to systematically purchase shares / ETFs, through periodic payment either daily, weekly fortnightly or monthly.

Now you have two options:

  • Open your trading account with the brokers who are providing the Equity SIP facility and set up your process, so you don't have to worry for buying shares on every cycle. The broker will take necessary action to buy shares in your account on the availability of fund. The only issue is brokerage is much higher, as currently, no discount broker provides this service.
  • Open account with Zerodha, Upstox - as they provide free delivery trading service. So you don't have to pay any brokerage when buy a small quantity. The only issue is that you have to set reminders and manually go and buy the shares.


User Reviews

1. Sagar Sahani Feb 13 2024 10:49:17 PM Reply
I want to mention one name to this list of brokers. And the name is mstock by Mirae Asset. Mirae Asset has recently acquired Sharekhan also. I use this platform for trading and long-term SIP investment. At a small fee of Rs 999, one can trade brokerage-free in each segment like delivery, IPO, intraday, mutual funds, etc.