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10 Best Brokers for Equity Trading in India 2023

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10 Best Brokers for Equity Trading in India 2023 [Most Popular]

Stock trading or equity trading is one of the most popular segments. Whether you are a trader or an investor, you will be interested to know the best brokers for stock trading and investing in India. Compare the equity trading brokerage charges of different brokers and find out the most popular brokers for stock trading.

What is Equity Trading or Stock Trading?

Equity trading, as the name implies, means buying and selling shares of a company. Every broker affiliated to the BSE and NSE allows its clients to trade in shares of listed companies.

When a beginner enters the world of stock market, he first starts trading and investing in stocks or shares. If you have an active trading and demat account with a registered stock broker, you can trade in the stock market. Your broker will charge a brokerage fee for stock trading.

Trading in stocks can be done via;

  • Equity intraday trading: when a trader buys and sells stocks on the same trading day, it is called intraday or day trading.
  • Equity Delivery trading: Delivery or Cash N Carry (CNC) means an investment in shares, i.e. shares bought today are held in the investor's demat account.
  • Equity Derivatives Trading (F&O): When a trader buys and sells stock futures and options contracts instead of trading stocks, it is called derivatives trading.

Factors to select the Best Broker for Equity Trading

Although the cheapest or lowest broker is the most important factor, there are other factors that cannot be avoided when choosing the best broker for trading stocks. The list includes;

  • Brokerage fees, preferably a flat fee model like a maximum fee of 20 rupees per order.
  • User-friendly platforms including mobile App and website
  • Technical indicators and tools as well as advanced charts
  • Details on F&O contracts like open interest analysis, option chains, Greek options, etc.

Also check,

Best brokers for intraday trading

Here we have provided a list of top discount brokers that charge their clients the lowest brokerage fees for stock trading. All recommended stock brokers follow a flat fee model and charge a flat brokerage fee per trade executed, regardless of the amount you trade. This plan helps traders and investors save huge brokerage costs.

Before opening an account with a discount broker, check the brokerage fees in the different segments and read the full review to know the stock trading features available.

List of Best Equity Trading Brokers in India 2023

Broker Brokerage Brokerage per order Review Request Callback
ZerodhaEquity Delivery:Free
Equity Intraday:0.03% or Rs 20 whichever is lower
Futures:0.03% or Rs 20 whichever is lower
Options:Flat Fee Rs 20
Rs 20Zerodha ReviewOpen Account
ProStocksEquity Delivery:Free
Equity Intraday:Flat Fee Rs 15
Futures:Flat Fee Rs 15
Options:Flat Fee Rs 15
Rs 15ProStocks ReviewOpen Account
Paytm MoneyEquity Delivery:2.5% or Rs 20 whichever is lower
Equity Intraday:0.05% or Rs 20 whichever is lower
Futures:0.02% or Rs 20 whichever is lower
Options:Flat Fee Rs 20
Rs 20Paytm Money ReviewOpen Account
Nuvama WealthEquity Delivery:Flat Rs. 10 per executed order
Equity Intraday:Flat Rs. 10 per executed order
Futures:Flat Rs. 10 per executed order
Options:Flat Rs. 10 per executed order
Rs 10Nuvama Wealth ReviewOpen Account
5paisaEquity Delivery:Flat Fee Rs 20
Equity Intraday:Flat Fee Rs 20
Futures:Flat Fee Rs 20
Options:Flat Fee Rs 20
Rs 205paisa ReviewOpen Account
UpstoxEquity Delivery:2.5% or Rs 20 whichever is lower
Equity Intraday:0.05% or Rs 20 whichever is lower
Futures:0.05% or Rs 20 whichever is lower
Options:Flat Fee Rs 20
Rs 20Upstox ReviewOpen Account

Zerodha Trade@20

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

Best Broker for Equity Trading – Final Verdict

Zerodha stands out as the best broker that does not charge any brokerage fees for investing in stocks, while it charges a flat Rs 20 for intraday and F&O trades. Moreover, its high market share and feature-rich Kite mobile app and web platform are the reasons to select Zerodha as the best-recommended broker.

You can also consider other brokers like ProStocks, Groww and Paytm Money that charge comparatively lower brokerage fees than Zerodha.


Zerodha is India’s largest online discount brokerage firm with an 18%+ market share. It is the top choice among equity investors to invest in BSE and NSE listed company’s shares (delivery trading) for Free on the Kite.

Zerodha Equity Trading Benefits;

  • Free delivery trading (investment in stocks) at zero brokerage.
  • The lowest brokerage fee of Max Rs. 20/ per order brokerage.
  • Excellent Zerodha Kite flagship trading platform with advanced charting and technical indicators.
  • Kite app allows trading at your fingertips.
  • No hidden charges.
Open Account With Zerodha


Yes, Prostocks although a relatively new broker in the Indian brokerage space, is still one of the cheapest brokers for intraday trading in stocks. Its Unlimited Trading Plans offers free equity intraday trading at zero brokerage at Rs. 899/month. Thus, the plan helps intraday traders to save a lot on brokerage. Prostocks also has an Rs. 15 Flat brokerage plan that offers free investment in stocks (delivery trading) and charges Rs. 15 per order brokerage on all intraday and F&O trades.

Open Account With Prostocks


Upstox, a part of RKSV Securities, is one of the preferred discount brokerage houses in India. Upstox charges a maximum of Rs. 20 per order brokerage on equity, derivatives, commodity, and currency trading. Its Pro web and app platform is an all-in-one efficient online trading platform with decent charting features and 100+ technical indicators. Thus, intraday and F&O traders can open Upstox accounts to trade at a minimal brokerage fee.
However, if you are only an equity investor, Upstox is not recommended as it doesn’t offer free delivery trading. Zerodha, Fyers, Paytm Money, and 5paisa allow investment in shares at zero brokerage.

Open Account With Upstox


Edelweiss, a full-service broker, charges the lowest flat brokerage model at Rs. 10 per executed order brokerage fee across segments. Here it is to be noted that the investment in shares with edelweiss is not free and levies at Rs. 10 flat brokerage. However, Paytm Money, a discount brokerage firm, offers an Rs. 10 fixed pricing model on all intraday and F&O trades and offers free delivery trading at Rs. 0 brokerage.

Open Account With Edelweiss


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