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Best Commodity Trading Brokers in India 2024

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Best commodity trading brokers in India 2024- Top Commodity Brokers

Any stock broker that is registered with MCX and NCDEX commodity exchanges in India offer trading in commodity futures & options contract. But the question is which one is the best commodity broker in 2024?

Broker who charges the cheapest brokerage on commodity derivative trading and have the best commodity platform is recommended as the top broker for commodity trading.

Before going ahead, let’s first understand what commodity trading is?

Commodity Trading Explained

Commodity trading means buying and selling various types of commodities or financial instruments of commodities.

Commodity traders trade in commodity futures and options contracts. Traders can trade in commodities such as metals (gold, silver, zinc, etc.), energy, and agricultural commodities.

There are two popular commodity exchanges in India;

  • Multi Commodity Exchange of India (MCX)
  • National Commodity and Derivatives Exchange Ltd (NCDEX)

A stockbroker who is registered as a member of these two exchanges allows his clients to trade in commodities.

Many discount brokers and full-service brokers offers commodity trading on MCX.

Discount brokers are usually recommended as they charge a fixed flat fee per trade, irrespective of the size of trade. But you do not get commodity research.

However, full-service brokers not just provide you a commodity trading platform but offer access to commodity research reports & advisory. Therefore, their brokerage charges are comparatively higher than discount brokers. They may charge a commodity trading brokerage fee of 0.03% to 0.05% of the trading value.

How to select the best brokers for commodity trading

Factors to be check to find out the best brokerage firms for commodity trading include;

  • Number of clients
  • Commodity trading platform features and UI
  • Ultra-low Brokerage cost on MCX trading

Here, the report provides you a list of the Top commodity brokerage firms or cheapest commodity brokers including discount and full-service commodity brokerage firms. Compare the commodity brokerage fee charged by them and select the one of your choice.

Best commodity trading brokers in 2023

Broker Brokerage Transaction charges Review Request Callback
ZerodhaFlat Fee Rs 20Non-Agri: Rs 360 Per Cr | Agri: Rs 275 Per CrZerodha ReviewOpen Account
Angel OneFlat Fee Rs 20Non-Agri: Rs 260 Per Cr | Agri: Rs 175 Per CrAngel One ReviewOpen Account
UpstoxFlat Fee Rs 20Non-Agri: Rs 360 Per Cr | Agri: Rs 275 Per CrUpstox ReviewOpen Account
FyersFlat Fee Rs 20NAFyers ReviewOpen Account
5paisaFlat Fee Rs 20Rs 260 Per Cr5paisa ReviewOpen Account
Alice BlueFlat Fee Rs 15Non-Agri: Rs 360 Per Cr | Agri: Rs 275 Per CrAlice Blue 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

DhanFlat Fee Rs 20NADhan ReviewOpen Account

Commodity Trading Pros and Cons

Pros/Advantages Cons/Disadvantages
  • Helps to diversify your portfolio and hedge against other asset classes
  • Commodity market remains open from 10 AM to 11:30 PM
  • Protection against inflation
  • Exposed to economic and geopolitical factors
  • Commodity trading is highly risky as vulnerable to extreme volatility
  • You may lose excessive leverage quickly even at small price movement

Number one Commodity Broker – Zerodha

Zerodha is the top commodity trading broker that charges you just Rs 20 maximum fee on MCX trading on the Kite platform.

Angel One is the second top commodity broker because it also offers you daily, weekly, and monthly commodity research reports.

Upstox, Fyers, and 5paisa also offer flat brokerage commodity trading at Rs 20 per order.

Dhan has a dedicated F&O trading platform, Options Trader App with dedicated commodity options trading dashboard.


There are many factors to be checked before selecting the best broker to start commodity trading. If you are a commodity trader, then here is a list of pointers prepared for you to choose the best commodity trading broker;

  1. Registered member or affiliation: Before choosing anyone, make sure to check whether the broker is a registered member of the commodity trading exchange (MCX and NCDEX) or not.
  2. Brokerage fee: Undoubtedly, the brokerage charged on MCX trading is one of the critical factors to check. You may prefer discount brokers or those full-service brokers who charge a flat brokerage price on trading in commodities.
  3. Trading Platforms: Commodity traders must check for a dedicated commodity trading app, while advanced traders can check for the commodity trading software.
  4. Active customers: The customer base is an important factor to measure how reliable or trustworthy a broker can be. A higher active clientele base indicates that a broker is very popular or vice-versa.
  5. Customer support: Check all the possible modes available with your broker to provide customer support such as email, telephonic assistance, chatbot, and offline support.


If you're looking to start online trading in the commodity at the minimum brokerage, then Zerodha is undoubtedly the best commodity broker. It is India’s largest discount brokerage firm that charges Rs. 20 flat fee on MCX futures & options trading regardless of the trade value. Its Kite platform is a superfast, multi-linguistic, intuitive UI, and feature-rich commodity trading platform available in web and mobile app versions.

To trade in commodities, you must open a Zerodha commodity trading account. The broker charges Rs. 200 commodity trading account opening fees from clients.

Zerodha Commodity Trading Review


Likewise, stock market trading is where you purchase and sell a company’s shares, in commodity trading, you buy and sell commodity products such as metal commodities, energy commodities, and agro commodities. Although trading in commodities helps in portfolio diversification and hedge against risks, however, at the same time, it is subject to a high degree of risk. Therefore, beginners must have a basic understanding of the commodity market segment including what are the types of commodities available, and how to trade in commodities. Newbies can consider full-service brokerage firms that offer commodity trading research & advisory services to make a better d


If you are new to the commodity trading market, you must go with full-service brokerage firms. Before starting, it is advisable to learn about commodity market basics such as commodity futures and commodity options, commodity trading process, etc. You can open a commodity trading account with top full-service commodity brokers who offer commodity research services to customers.

ICICI Direct, Sharekhan, Kotak Securities, and Motilal Oswal are the recommended full-service commodity traders to open an account with. ICICI Direct , the top full-service brokerage firm with the highest customer base, has a fixed brokerage plan at a flat brokerage fee of Rs. 20 per order commodity trading.


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