FREE Account Opening + Zero AMC Fees* + MutualFund SIP1

Best Brokers for Options Trading in India

Report List >
Best Brokers for Options Trading in India 2023| Top Options Trading Platform

Best option trading broker charges low brokerage fee (preferably flat fee) and offers the best quality option trading platform with all the needed features to option traders.

SEBI’s report discovered that every 9 out of 10 individual F&O traders incurred net losses. Given the complexity in options trading, it is important for traders to wisely choose the right stock broker to start options trading in India.

Let’s first discuss what option trading is.

Options Trading Meaning Explained

Options are a contract wherein two parties (buyer and seller) buy and sell an underlying security at a specified price on or before the pre-decided date. It is a derivatives instrument that gives options buyer the right but not an obligation.

There are two types of options contracts; Call Option and Put Option; the former gives the right to buy an underlying asset, whereas the latter offers the right to sell an underlying asset.

The option buyer pays a premium to the option seller.

How to select the Best Option Trading Broker in India?

Among hundreds of broker, which is the best broker for trading in options is difficult. Here’s a guide on how to select the best option trading platform or what factors you must looked at before choosing any option trading broker.

  • Brokerage fee: No doubt, brokerage is the topmost concern, most option traders prefer trading at a flat brokerage fee say Rs 20 per executed order. So, the brokerage fee remains fixed irrespective of number of lots.
  • Option Trading Platform: Option Traders want a lot of features while trading in options. Like multiple option trading strategies, customized strategy builder, F&O screener, options trading ideas, real-time complete options chain, and a lot more.
  • Mobile App: You may not all the time available in front of desktop screen so your broker must have a mobile app to trade in option contracts.

Here’s presenting the most-popular options trading brokers who charge a flat fee and have an excellent options trading platform with all the required features for options traders.

Compare and review the brokerage fee charged by different brokers on options trading segment along with trading account opening fee and demat maintenance fee.

Best Options Trading Brokers in India 2023

Broker Options Account Opening Demat AMC Review Request Callback
ZerodhaFlat Fee Rs 20Online Rs 200 (Eq+Curr), Rs 300 (Eq+Curr+Com)Rs 300 PAZerodha ReviewOpen Account
UpstoxFlat Fee Rs 20Promotion offer: FreeFreeUpstox ReviewOpen Account
5paisaFlat Fee Rs 20FreeRs 300 PA5paisa ReviewOpen Account
ProStocksFlat Fee Rs 15FreeRs 0 (Rs 1000 Refundable Deposit)ProStocks ReviewOpen Account
FyersFlat Fee Rs 20FreeFreeFyers ReviewOpen Account
Angel OneFlat Fee Rs 20FreeRs 240 PA (Waived for 1st year)Angel One 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

Nuvama WealthFlat Rs. 10 per executed orderFreeLite:Rs.300, Elite:Rs.500p.a. [Free 1st Year]Nuvama Wealth ReviewOpen Account
DhanFlat Fee Rs 20FreeFreeDhan Review😞😞😞

Best Options Trading Broker for beginners – Zerodha

Zerodha is the best broker for options trading especially for beginners. The stock broker charges you just Rs 20 per order brokerage fee.

It has a dedicated Sensibull options trading platform with many features like option analyzer, options strategy builder, virtual trading, etc.

Beginners can also learn on options trading on its Varsity educational platform.

Upstox, ProStocks, and Angel One are other recommended brokers for you to trade in F&O segment.

Best Option Trading Platform for Pro Traders – 5paisa

5paisa has a dedicated FnO 360 platform dedicated for derivatives trading. The platform has differnet featured sections for F&O traders like Open Interest analyzer, Options chain analytics, straddle options trading strategy, Option Greeks, FII and DII data, multiple pre-defined option trading strategy like Long call, Bull Call Spread, Bull Put Spread, Long Call Butterfly, and Short Put. Options traders can even place upto 10 orders at a single time on FnO 360 screen.

Similarly, Dhan also has a dedicated Options Trader App and web based platform for pro traders with F&O screen, real-time payoff graphs, pre-built strategies, customized stratey builder, and a way lot more features.


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 1st 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.


User Reviews

2. Mahira Jain Feb 09 2024 04:33:19 PM Reply
I have heard from my friend that mstock by Mirae Asset is a good broker for options trading. Can you share a detail of the broker mstock as it is not on this list? Or if someone has used the broker share your experience.