Best Brokers for Options Trading in India

Zerodha is one of the top discount brokers for option traders due to ultra-low brokerage charges at just Rs. 20 per order, Kite elegant and fast trading platform (web and mobile app), and trading tools. It is the first broker who has launched Sensibull, India’s 1^st options trading platform with features like option strategy builder, option analyzer, open interest, FII & DII Data, comprehensive option chain, event calender, options trading tutorials, and others. Beginners can even do virtual trading in options on zerodha platform without using real money.

Further, Varsity by Zerodha is a great platform for newcomers to learn about options trading such as its meaning, different types of options strategies, analyzing options chain, and more.

You can activate BSE and NSE futures & options trading segment on Zerodha console online. Zerodha customers can activate or deactivate any segments on your account but once a segment is disabled, it cannot be activated in the next 12 hours. Here are the steps to activate options segment;

1. Login to the Zerodha Console.
2. On the top menu, click on the “Account” tab and then tap on the “Segment” option.
3. Now, click on the relevant options; BSE –F&O and NSE –F&O of your choice.
4. Tap on the Continue button.
5. Now, select the income range and click on the checkbox.
6. Upload the income proof and then tap on the “Submit” option.
7. Once the request is placed, it will take upto 48 hours to activate the F&O trading segment.

Zerodha discount broker facilitates online options trading through its Kite platform. Once you have enabled or activated the F&O trading segment, you can buy or sell options following the below steps;

• Log in to your account on the Kite.
• Add the desired option chain to the market watchlist.
• Place a buy order for your favouriate option.
• Check the options contract details.
• Check the order execution.

Upstox offers a user-friendly Pro website and Pro mobile app based trading platform and charges flat Rs. 20 brokerage fee on options trading. The online discount broker also offers many options trading tools like option value calculator, option strategy builder, an easy to use tool to build an option strategy and place upto 4 orders at a given time.

Option strategy builder in Upstox is a great tool for option traders to create and place option trading strategy of your choice through the below steps;

1. In the scrip details, click on the “Option chain” and then tap on the “Create strategy”
2. Select the LTP of the strike price, and enter quantity, price, etc.
3. Once entered, click on the “Add to strategy” and the order will be added.
4. The strategy will be shown in the review tab.
5. Click on the “Continue” tab to confirm the order.
6. The orders placed will be reflected in the “orders” tab under the “Trades” option.

Note: You can create upto a maximum of 4 orders as per the designed option strategy.

Considering numerous factors such as brokerage, mobile app options trading platform, and options trading information, Zerodha is the best suited broker to start options trading in India. The discount stock broker charges Rs. 20 flat brokerage on trading in futures & options that helps option traders to save significant amount of brokerage and earn better return. Upstox, Angel One, Fyers, Prostocks are the other recommended brokers to trade in futures & options trading segment.

If you are an option trader, then you may be interested to trade in options at the cheapest brokerage rates. Here is a list of the cheapest option trading brokerage firms in India;

1. Zerodha, Best broker for option trading at Flat Rs. 20/order through the Zerodha Kite platform.
2. Upstox, Trade in options at Flat Rs. 20 brokerage on the Upstox Pro platform.
3. Prostocks, Rs. 15 per order flat brokerage on options.
4. Paytm Money, cheapest option trading brokerage at just Rs. 10 per order.
5. Edelweiss Broking charging Rs. 10 flat brokerage on options.

Note: Brokerage is not the only factor to check before while selecting the best option trading broker as traders must check for the option trading platform features like virtual trading, option trading strategies, and more.