Stock Brokers in India

Choosing a stock broker is one of the first practical decisions an investor or trader makes. The broker provides the account and the technology through which orders reach the stock exchange, but the experience can differ substantially in pricing, research, charting, support, reporting and the range of products available.

There is no single broker that is best for everyone. A long-term investor may care most about delivery costs, mutual funds and simple portfolio reports. An active derivatives trader may prioritise order controls, charting, API access and reliable support during market hours. A first-time investor may value a straightforward app and access to educational material.

This guide explains what a stock broker does, compares the ten largest brokers by NSE active clients, and reviews two additional platforms: Shoonya and FYERS.

What is a stock broker?

A stock broker is a SEBI-registered intermediary and exchange member that allows clients to buy and sell securities on recognised exchanges. The broker provides a trading account and order-placement platform. A demat account, usually provided by the broker or an affiliated depository participant, holds securities bought for delivery.

A broker may also provide products such as mutual funds, IPO applications, bonds, commodities, margin trading, market research and trading APIs. These are add-on services; check which ones are available for your account type and the relevant charges before opening an account.

How we selected the brokers

The ten brokers below are listed in descending order of NSE active clients for September 2026, using NSE-reported figures. In this context an active client is a client code that traded during the period, an exchange measure of scale. It says nothing about service quality, safety beyond regulatory status, or suitability for a particular user. Shoonya and FYERS are reviewed separately rather than being described as members of this top-ten list.

The reviews compare publicly described products, platform features and published pricing structures. They are editorial summaries, not the result of hands-on execution or customer-support testing. Brokerage and other fees can change, so verify the latest tariff sheet and use the broker's own calculator before trading.

Quick comparison

Every figure in the table comes from the brokers' published pricing pages and the NSE active-client ranking for September 2026. Read the figure as a starting point for your own comparison, not as a verdict.

Broker	NSE active clients, Sep 2026	General fit	Main consideration
Groww	1,34,48,194	Investors wanting a simple app and a broad investing menu	Confirm stock-trading charges; delivery is not necessarily free
Zerodha	67,91,541	Self-directed investors and active traders	Research and advisory are not the core offering; API access may have a separate fee
Angel One	67,55,711	Users looking for a broad app, research and trading tools	Check delivery brokerage and plan-specific charges
ICICI Direct	21,60,619	Customers who value an integrated bank-and-investment setup	Pricing depends heavily on the selected plan
Upstox	18,54,285	App-first investors and traders looking for a digital platform	Compare AMC, DP and segment-wise charges, not just headline brokerage
Kotak Securities / Kotak Neo	13,91,840	Users who want bank-linked services and low-cost intraday/F&O plans	Delivery pricing and benefits vary by plan and eligibility
HDFC Securities / HDFC Sky	13,53,843	HDFC customers and investors who want bank-linked services	Compare the digital HDFC Sky offer with other HDFC Securities plans
Dhan	11,20,901	Active traders, especially those who use chart- and options-focused tools	Review order handling, support and charges against your own workflow
SBI Securities	10,21,295	Investors who value an SBI-linked relationship and broader service model	Plan-based pricing can be higher than flat-fee discount brokers
Motilal Oswal	9,08,987	Investors who value research and advisory-style resources	Compare the chosen brokerage plan and any service-specific terms
Shoonya by Finvasia	Outside this top ten	Cost-conscious users looking at low brokerage	“Zero brokerage” does not mean zero statutory, DP or other charges
FYERS	Outside this top ten	Chart-focused and systematic traders	Smaller active-client base than the largest platforms; assess support and tools yourself

Pricing Comparison

Broker-specific charges are the ones that distinguish one broker from another, so they are the rows here. Statutory and exchange levies (STT/CTT, stamp duty, exchange transaction charges and SEBI turnover fees) are deliberately kept out of the comparison: they are set by the relevant rules, segment, exchange and transaction value, and for the same trade on the same exchange they generally do not separate one broker from another. Include them when you estimate your total cost, not when you compare brokers. "Zero brokerage" does not mean "zero trading cost": DP charges, AMC, API and data subscriptions, pledge fees, call-and-trade fees and MTF interest often matter more than the headline brokerage figure. Promotional introductory rates are not shown as standard rates.

Last verified: 15 October 2026. Read the figure as a starting point, verify it against the broker's current tariff, and use the broker's own calculator before trading. This is a comparison, not advice, and no broker here is best for everyone.

Opens the full pricing comparison for all twelve brokers, with a broker-by-broker view for reading one platform at a time. On a phone the matrix scrolls sideways inside the window.

Pricing Comparison, all twelve brokers

Pricing Comparison: each row is an item and each column is a broker
Item	Groww	Zerodha	Angel One	ICICI Direct	Upstox	Kotak Securities / Kotak Neo	HDFC Securities / HDFC Sky	Dhan	SBI Securities	Motilal Oswal	Shoonya by Finvasia	FYERS
Account-opening fee	₹0 for trading and demat accounts	Free for individual, minor and HUF (online); ₹500 for NRI and offline entities	₹0 for resident accounts (NRI approximately ₹500)	Not publicly confirmed on the brokerage page	Free	₹0 (Trade Free Plan, MPower); ₹99 (Trade Free Youth)	Free	₹0 for individuals and HUFs	Plan-dependent, check tariff	Website campaign shows ₹0; the tariff sheet lists ₹1,000 including KRA	₹0	₹0
Annual maintenance charge (AMC)	₹0	Free first year; then ₹0 up to ₹4 lakh (BSDA), ₹100/year to ₹10 lakh, ₹300/year above; ₹300/year for non-BSDA	Free first year; then ₹60 + GST per quarter non-BSDA; ₹0 up to ₹4 lakh (BSDA), ₹100/year for ₹4–10 lakh	₹700/year demat standard; ₹300/year on the iVALUE plan	Free first year; ₹300 + GST/year non-BSDA; BSDA per help centre	₹0 for BSDA holdings up to ₹4 lakh; other AMC not stated	₹20 per month demat AMC; free first year	₹0 for individuals and HUFs; ₹800 + GST for NRI, corporate, LLP, partnership and trust accounts	Plan-dependent, check tariff	Broking AMC ₹299/year (free first year); DP AMC scheme-dependent	₹0 for individuals; ₹900 for corporate, trust and LLP accounts	₹0
Equity delivery brokerage	Lower of ₹20 or 0.1% per executed order, minimum ₹5	₹0 for eligible retail individual accounts; otherwise 0.1% or ₹20, whichever is lower	Lower of ₹20 or 0.1% per executed order, minimum ₹5	Plan-dependent: 0.29% (MoneySaver); Prime 9999 0.07%, Prime 4999 0.10%, Prime 999 0.22%	₹20 per executed order	Trade Free Plan: ₹0 for 30 days, then 0.20% per executed order	Lower of ₹20 or 2.5%	₹0 (zero brokerage)	Plan-dependent, check tariff	0.20% per order (from Motilal Oswal's own page; the tariff-sheet rate table is blank)	₹0	Lower of ₹20 or 0.3% per order (Standard); Prime ₹15 or 0.3%
Equity intraday brokerage	Lower of ₹20 or 0.1% per executed order, minimum ₹5	Lower of ₹20 or 0.03% per executed order	Lower of ₹20 or 0.1% per executed order, minimum ₹5	₹20 per order on iVALUE; 0.029% on MoneySaver	Lower of ₹20 or 0.1% per executed order	Trade Free Plan: ₹0 for 30 days, then lower of ₹10 or 0.05% per executed order	Lower of ₹20 or 2.5%	Lower of ₹20 or 0.03% per executed order (also applies to MTF)	Plan-dependent; the ProZero plan advertises zero brokerage on eligible intraday trades	0.02% per order	Lower of ₹5 or 0.03% per executed order	Lower of ₹20 or 0.03% per order (Standard); Prime ₹15 or 0.03%
Equity futures brokerage	Not publicly confirmed (the pricing page states one equity brokerage, not F&O)	Lower of ₹20 or 0.03% per executed order	₹20 per executed order	₹20 per order on iVALUE; 0.029% MoneySaver; Prime 9999 0.007%, Prime 4999 0.010%	Lower of ₹20 or 0.05% per executed order	Trade Free Plan: ₹0 for 30 days, then ₹10 per executed order	Lower of ₹20 or 2.5%	₹20 per executed order	Plan-dependent, check tariff	0.02% per order	Lower of ₹5 or 0.03% per executed order	Lower of ₹20 or 0.03% per order (Standard); Prime ₹15 or 0.03%
Equity options brokerage	Not publicly confirmed (the pricing page states one equity brokerage, not F&O)	Flat ₹20 per executed order	₹20 per executed order	₹20 per order on iVALUE; ₹49 per lot MoneySaver; Prime 9999 ₹9/lot, Prime 4999 ₹19/lot	Flat ₹20 per executed order	Trade Free Plan: ₹0 for 30 days, then ₹10 per executed order	₹20 per order	₹20 per executed order	Plan-dependent, check tariff	₹20 per lot	Flat ₹5 per executed order	Flat ₹20 per order (Standard); Prime ₹15
Brokerage on orders placed through the API	Standard brokerage applies; no separate API brokerage stated	Standard brokerage applies to API orders	Standard brokerage applies; no separate API brokerage stated	Same as the account brokerage plan (Breeze)	₹10 per order through the API (the published rate carried a validity date; check the current rate)	₹0 per order on Trade Free plans when routed through the Neo Trade API	Not publicly confirmed	Standard ₹20/order brokerage applies; no separate API brokerage	Not publicly confirmed	Not publicly confirmed	Standard brokerage applies; API access itself is free	Standard brokerage applies to API orders
API subscription fee	₹499 + taxes per month (early-bird rate; the list price is stated as ₹2,000/month)	Personal APIs free; Kite Connect ₹500 per month per API key	Free (SmartAPI)	₹0 (Breeze API free)	Free (trading and data APIs)	₹0 (no API or platform subscription)	Not publicly confirmed (HDFC Sky Open API is advertised without a stated fee)	Trading API free; Data API ₹499/month; Pro Trader's Plan ₹999/month (₹799/month with annual billing)	Not publicly confirmed	Not publicly confirmed (the MO API is advertised as free, with no fee schedule published)	Free	Free
Market-data / API data fee	Included in the API subscription	Included in the Kite Connect subscription	Free (market feeds API)	₹0 (Breeze data access free)	Free	No separate charge stated; API fees are zero	Not publicly confirmed	Included in the paid Data API tiers: live market feed, 20-level market depth, option chain with Greeks and US-stocks live feed	Not publicly confirmed	Not publicly confirmed	Free	Free (historical, quotes and real-time)
Historical-data access fee (if separate)	Included in the API subscription (intraday up to 3 months)	Included in Kite Connect; limits depend on instrument and interval	Free (historical-data API)	₹0 (Breeze historical data free)	Free	Not publicly confirmed	Not publicly confirmed	Included in the paid Data API tiers: daily and intraday chart data, plus rolling and expired options data	Not publicly confirmed	Not publicly confirmed	Free (intraday and daily endpoints)	Free
DP charges	₹16.5 (Groww) + CDSL ₹3.5 (male) / ₹3.25 (female) per sell scrip; ₹0 below ₹100 debit	₹15.34 per scrip on sell (CDSL ₹3.5 + Zerodha ₹9.5 + GST)	₹20 + GST per scrip on sell (CDSL ₹3.5 male / ₹3.25 female + Angel One ₹16.5)	₹20 + GST per scrip per day on sell; NSDL adds ₹4 + GST for same-day subsequent debits	₹20 per scrip on sell (delivery); none on intraday, futures or options; CDSL ₹3.5 male / ₹3.25 female + Upstox ₹16.5	Not publicly confirmed	₹20 demat transaction charge per scrip on sell	₹12.50 per instruction per ISIN + GST	Plan-dependent, check tariff	Scheme-dependent: TRX ₹35 or 0.035% per scrip; 5-Year ₹20 or 0.025%	₹9 + GST per scrip on sell	₹12.5 + GST per scrip on sell; ₹0 on buy
Pledge and unpledge charges	₹20 per ISIN	₹30 + GST per pledge request per ISIN; MTF pledge ₹15 + GST	₹5 + GST (CDSL) plus ₹15 + GST (Angel One) per request; MTF ₹12 + ₹8 + GST	Not publicly confirmed	₹20 + GST per scrip for pledge and unpledge; CUSPA ₹50 + GST	Not publicly confirmed	Pledge invocation ₹20; creation charge not stated	₹15 per transaction per ISIN + GST (pledge, unpledge and invocation)	Not publicly confirmed	₹35 per pledge instruction; margin/CUSPA pledge up to ₹25 per ISIN	₹20 per instruction (pledge and unpledge)	Margin pledge ₹5 + GST; unpledge ₹0; MTF pledge ₹12 + GST; MTF unpledge ₹12 + GST
MTF interest rate	14.95% per annum on the funded amount, plus 0.1% MTF brokerage	0.04% per day (₹40 per lakh) on the funded amount	14.99% per annum, charged fortnightly	Plan-based: 17.99% p.a. (MoneySaver, Prime 999); 10.99% (Prime 4999); 9.69% (Prime 9999)	₹20 per day per ₹40,000 slab; margin pledge interest 16% p.a. up to ₹1 lakh	14.99% p.a. (Trade Free); 9.69% p.a. (Trade Free Pro)	12% per annum (marketed as 1% per month)	12.49% p.a. up to ₹5 lakh; 13.49% to ₹10 lakh; 14.49% to ₹25 lakh; 15.49% above	Not publicly confirmed	Not publicly confirmed	Not publicly confirmed	0% up to ₹1,000, then 12.49% to 16.49% p.a. by slab
Call-and-trade charge	Not publicly confirmed	₹50 per order, including auto square-off orders	₹20 per order	₹50 per order (equity and derivatives)	₹75 + GST	Up to ₹49 per executed order (dealer-assisted)	₹20 per call	₹50 per order + GST	Plan-dependent, check tariff	Not publicly confirmed	₹0	₹50 + GST per order
Auto-square-off charge	₹50 per position	₹50 per order (charged as call and trade)	Charged as brokerage; no additional penalty	₹50 per order for commodity system square-off (capped ₹100/day); equity not stated	₹75 + GST (Upstox Plus ₹50 + GST)	Same additional fee as dealer-assisted orders; RMS liquidation ₹100/order waived from 1 Apr 2025	Lower of ₹20 or 2.5% (RMS square-off, additional)	₹20 per order + GST	Plan-dependent, check tariff	Not publicly confirmed	Not publicly confirmed	₹50 + GST per order
Other plan fees or important conditions	GST 18% applies to brokerage, DP, exchange and API charges; delayed payment 0.05%/day; DDPI ₹100 + GST; UPI Mandate balance orders 1% brokerage	Debit-balance accounts ₹20 per executed order; off-market transfer ₹25; payment gateway ₹9 + GST	Debit balance 0.049%/day; cash collateral 0.0342%/day; DDPI activation ₹100 + GST	iVALUE ₹20/order; Prime plans are one-time fee plans; physical F&O delivery 0.15%; physical contract note ₹99 + GST	Upstox Plus raises brokerage up to ₹30/order; NDU ₹200 or 0.01%; off-market ₹20 + GST per ISIN	Plan switching ₹499 + GST; ETF and G-sec rates differ; debit-balance interest 0.049%/day	Physical contract note ₹20/note plus courier; dematerialisation ₹50/certificate plus courier	Platform charges ₹0; interest 0.0438%/day on non-MTF debit; ₹0 payment gateway on UPI and net banking	Plan-based pricing; the official site is a client-rendered app and could not be read for this comparison	Value Pack scheme; other charges up to 0.02% cash, 0.006% futures, 0.06% options	Clearing and platform charges ₹0	FYERS Prime ₹4,990 per year (₹499/month) lowers brokerage to ₹15/order

Broker by broker

Groww

Account-opening fee: ₹0 for trading and demat accounts
Annual maintenance charge (AMC): ₹0
Equity delivery brokerage: Lower of ₹20 or 0.1% per executed order, minimum ₹5
Equity intraday brokerage: Lower of ₹20 or 0.1% per executed order, minimum ₹5
Equity futures brokerage: Not publicly confirmed (the pricing page states one equity brokerage, not F&O)
Equity options brokerage: Not publicly confirmed (the pricing page states one equity brokerage, not F&O)
Brokerage on orders placed through the API: Standard brokerage applies; no separate API brokerage stated
API subscription fee: ₹499 + taxes per month (early-bird rate; the list price is stated as ₹2,000/month)
Market-data / API data fee: Included in the API subscription
Historical-data access fee (if separate): Included in the API subscription (intraday up to 3 months)
DP charges: ₹16.5 (Groww) + CDSL ₹3.5 (male) / ₹3.25 (female) per sell scrip; ₹0 below ₹100 debit
Pledge and unpledge charges: ₹20 per ISIN
MTF interest rate: 14.95% per annum on the funded amount, plus 0.1% MTF brokerage
Call-and-trade charge: Not publicly confirmed
Auto-square-off charge: ₹50 per position
Other plan fees or important conditions: GST 18% applies to brokerage, DP, exchange and API charges; delayed payment 0.05%/day; DDPI ₹100 + GST; UPI Mandate balance orders 1% brokerage

Read the full Groww review

Zerodha

Account-opening fee: Free for individual, minor and HUF (online); ₹500 for NRI and offline entities
Annual maintenance charge (AMC): Free first year; then ₹0 up to ₹4 lakh (BSDA), ₹100/year to ₹10 lakh, ₹300/year above; ₹300/year for non-BSDA
Equity delivery brokerage: ₹0 for eligible retail individual accounts; otherwise 0.1% or ₹20, whichever is lower
Equity intraday brokerage: Lower of ₹20 or 0.03% per executed order
Equity futures brokerage: Lower of ₹20 or 0.03% per executed order
Equity options brokerage: Flat ₹20 per executed order
Brokerage on orders placed through the API: Standard brokerage applies to API orders
API subscription fee: Personal APIs free; Kite Connect ₹500 per month per API key
Market-data / API data fee: Included in the Kite Connect subscription
Historical-data access fee (if separate): Included in Kite Connect; limits depend on instrument and interval
DP charges: ₹15.34 per scrip on sell (CDSL ₹3.5 + Zerodha ₹9.5 + GST)
Pledge and unpledge charges: ₹30 + GST per pledge request per ISIN; MTF pledge ₹15 + GST
MTF interest rate: 0.04% per day (₹40 per lakh) on the funded amount
Call-and-trade charge: ₹50 per order, including auto square-off orders
Auto-square-off charge: ₹50 per order (charged as call and trade)
Other plan fees or important conditions: Debit-balance accounts ₹20 per executed order; off-market transfer ₹25; payment gateway ₹9 + GST

Read the full Zerodha review

Angel One

Account-opening fee: ₹0 for resident accounts (NRI approximately ₹500)
Annual maintenance charge (AMC): Free first year; then ₹60 + GST per quarter non-BSDA; ₹0 up to ₹4 lakh (BSDA), ₹100/year for ₹4–10 lakh
Equity delivery brokerage: Lower of ₹20 or 0.1% per executed order, minimum ₹5
Equity intraday brokerage: Lower of ₹20 or 0.1% per executed order, minimum ₹5
Equity futures brokerage: ₹20 per executed order
Equity options brokerage: ₹20 per executed order
Brokerage on orders placed through the API: Standard brokerage applies; no separate API brokerage stated
API subscription fee: Free (SmartAPI)
Market-data / API data fee: Free (market feeds API)
Historical-data access fee (if separate): Free (historical-data API)
DP charges: ₹20 + GST per scrip on sell (CDSL ₹3.5 male / ₹3.25 female + Angel One ₹16.5)
Pledge and unpledge charges: ₹5 + GST (CDSL) plus ₹15 + GST (Angel One) per request; MTF ₹12 + ₹8 + GST
MTF interest rate: 14.99% per annum, charged fortnightly
Call-and-trade charge: ₹20 per order
Auto-square-off charge: Charged as brokerage; no additional penalty
Other plan fees or important conditions: Debit balance 0.049%/day; cash collateral 0.0342%/day; DDPI activation ₹100 + GST

Read the full Angel One review

ICICI Direct

Account-opening fee: Not publicly confirmed on the brokerage page
Annual maintenance charge (AMC): ₹700/year demat standard; ₹300/year on the iVALUE plan
Equity delivery brokerage: Plan-dependent: 0.29% (MoneySaver); Prime 9999 0.07%, Prime 4999 0.10%, Prime 999 0.22%
Equity intraday brokerage: ₹20 per order on iVALUE; 0.029% on MoneySaver
Equity futures brokerage: ₹20 per order on iVALUE; 0.029% MoneySaver; Prime 9999 0.007%, Prime 4999 0.010%
Equity options brokerage: ₹20 per order on iVALUE; ₹49 per lot MoneySaver; Prime 9999 ₹9/lot, Prime 4999 ₹19/lot
Brokerage on orders placed through the API: Same as the account brokerage plan (Breeze)
API subscription fee: ₹0 (Breeze API free)
Market-data / API data fee: ₹0 (Breeze data access free)
Historical-data access fee (if separate): ₹0 (Breeze historical data free)
DP charges: ₹20 + GST per scrip per day on sell; NSDL adds ₹4 + GST for same-day subsequent debits
Pledge and unpledge charges: Not publicly confirmed
MTF interest rate: Plan-based: 17.99% p.a. (MoneySaver, Prime 999); 10.99% (Prime 4999); 9.69% (Prime 9999)
Call-and-trade charge: ₹50 per order (equity and derivatives)
Auto-square-off charge: ₹50 per order for commodity system square-off (capped ₹100/day); equity not stated
Other plan fees or important conditions: iVALUE ₹20/order; Prime plans are one-time fee plans; physical F&O delivery 0.15%; physical contract note ₹99 + GST

Read the full ICICI Direct review

Upstox

Account-opening fee: Free
Annual maintenance charge (AMC): Free first year; ₹300 + GST/year non-BSDA; BSDA per help centre
Equity delivery brokerage: ₹20 per executed order
Equity intraday brokerage: Lower of ₹20 or 0.1% per executed order
Equity futures brokerage: Lower of ₹20 or 0.05% per executed order
Equity options brokerage: Flat ₹20 per executed order
Brokerage on orders placed through the API: ₹10 per order through the API (the published rate carried a validity date; check the current rate)
API subscription fee: Free (trading and data APIs)
Market-data / API data fee: Free
Historical-data access fee (if separate): Free
DP charges: ₹20 per scrip on sell (delivery); none on intraday, futures or options; CDSL ₹3.5 male / ₹3.25 female + Upstox ₹16.5
Pledge and unpledge charges: ₹20 + GST per scrip for pledge and unpledge; CUSPA ₹50 + GST
MTF interest rate: ₹20 per day per ₹40,000 slab; margin pledge interest 16% p.a. up to ₹1 lakh
Call-and-trade charge: ₹75 + GST
Auto-square-off charge: ₹75 + GST (Upstox Plus ₹50 + GST)
Other plan fees or important conditions: Upstox Plus raises brokerage up to ₹30/order; NDU ₹200 or 0.01%; off-market ₹20 + GST per ISIN

Read the full Upstox review

Kotak Securities / Kotak Neo

Account-opening fee: ₹0 (Trade Free Plan, MPower); ₹99 (Trade Free Youth)
Annual maintenance charge (AMC): ₹0 for BSDA holdings up to ₹4 lakh; other AMC not stated
Equity delivery brokerage: Trade Free Plan: ₹0 for 30 days, then 0.20% per executed order
Equity intraday brokerage: Trade Free Plan: ₹0 for 30 days, then lower of ₹10 or 0.05% per executed order
Equity futures brokerage: Trade Free Plan: ₹0 for 30 days, then ₹10 per executed order
Equity options brokerage: Trade Free Plan: ₹0 for 30 days, then ₹10 per executed order
Brokerage on orders placed through the API: ₹0 per order on Trade Free plans when routed through the Neo Trade API
API subscription fee: ₹0 (no API or platform subscription)
Market-data / API data fee: No separate charge stated; API fees are zero
Historical-data access fee (if separate): Not publicly confirmed
DP charges: Not publicly confirmed
Pledge and unpledge charges: Not publicly confirmed
MTF interest rate: 14.99% p.a. (Trade Free); 9.69% p.a. (Trade Free Pro)
Call-and-trade charge: Up to ₹49 per executed order (dealer-assisted)
Auto-square-off charge: Same additional fee as dealer-assisted orders; RMS liquidation ₹100/order waived from 1 Apr 2025
Other plan fees or important conditions: Plan switching ₹499 + GST; ETF and G-sec rates differ; debit-balance interest 0.049%/day

Read the full Kotak Securities / Kotak Neo review

HDFC Securities / HDFC Sky

Account-opening fee: Free
Annual maintenance charge (AMC): ₹20 per month demat AMC; free first year
Equity delivery brokerage: Lower of ₹20 or 2.5%
Equity intraday brokerage: Lower of ₹20 or 2.5%
Equity futures brokerage: Lower of ₹20 or 2.5%
Equity options brokerage: ₹20 per order
Brokerage on orders placed through the API: Not publicly confirmed
API subscription fee: Not publicly confirmed (HDFC Sky Open API is advertised without a stated fee)
Market-data / API data fee: Not publicly confirmed
Historical-data access fee (if separate): Not publicly confirmed
DP charges: ₹20 demat transaction charge per scrip on sell
Pledge and unpledge charges: Pledge invocation ₹20; creation charge not stated
MTF interest rate: 12% per annum (marketed as 1% per month)
Call-and-trade charge: ₹20 per call
Auto-square-off charge: Lower of ₹20 or 2.5% (RMS square-off, additional)
Other plan fees or important conditions: Physical contract note ₹20/note plus courier; dematerialisation ₹50/certificate plus courier

Read the full HDFC Securities / HDFC Sky review

Dhan

Account-opening fee: ₹0 for individuals and HUFs
Annual maintenance charge (AMC): ₹0 for individuals and HUFs; ₹800 + GST for NRI, corporate, LLP, partnership and trust accounts
Equity delivery brokerage: ₹0 (zero brokerage)
Equity intraday brokerage: Lower of ₹20 or 0.03% per executed order (also applies to MTF)
Equity futures brokerage: ₹20 per executed order
Equity options brokerage: ₹20 per executed order
Brokerage on orders placed through the API: Standard ₹20/order brokerage applies; no separate API brokerage
API subscription fee: Trading API free; Data API ₹499/month; Pro Trader's Plan ₹999/month (₹799/month with annual billing)
Market-data / API data fee: Included in the paid Data API tiers: live market feed, 20-level market depth, option chain with Greeks and US-stocks live feed
Historical-data access fee (if separate): Included in the paid Data API tiers: daily and intraday chart data, plus rolling and expired options data
DP charges: ₹12.50 per instruction per ISIN + GST
Pledge and unpledge charges: ₹15 per transaction per ISIN + GST (pledge, unpledge and invocation)
MTF interest rate: 12.49% p.a. up to ₹5 lakh; 13.49% to ₹10 lakh; 14.49% to ₹25 lakh; 15.49% above
Call-and-trade charge: ₹50 per order + GST
Auto-square-off charge: ₹20 per order + GST
Other plan fees or important conditions: Platform charges ₹0; interest 0.0438%/day on non-MTF debit; ₹0 payment gateway on UPI and net banking

Read the full Dhan review

SBI Securities

Account-opening fee: Plan-dependent, check tariff
Annual maintenance charge (AMC): Plan-dependent, check tariff
Equity delivery brokerage: Plan-dependent, check tariff
Equity intraday brokerage: Plan-dependent; the ProZero plan advertises zero brokerage on eligible intraday trades
Equity futures brokerage: Plan-dependent, check tariff
Equity options brokerage: Plan-dependent, check tariff
Brokerage on orders placed through the API: Not publicly confirmed
API subscription fee: Not publicly confirmed
Market-data / API data fee: Not publicly confirmed
Historical-data access fee (if separate): Not publicly confirmed
DP charges: Plan-dependent, check tariff
Pledge and unpledge charges: Not publicly confirmed
MTF interest rate: Not publicly confirmed
Call-and-trade charge: Plan-dependent, check tariff
Auto-square-off charge: Plan-dependent, check tariff
Other plan fees or important conditions: Plan-based pricing; the official site is a client-rendered app and could not be read for this comparison

Read the full SBI Securities review

Motilal Oswal

Account-opening fee: Website campaign shows ₹0; the tariff sheet lists ₹1,000 including KRA
Annual maintenance charge (AMC): Broking AMC ₹299/year (free first year); DP AMC scheme-dependent
Equity delivery brokerage: 0.20% per order (from Motilal Oswal's own page; the tariff-sheet rate table is blank)
Equity intraday brokerage: 0.02% per order
Equity futures brokerage: 0.02% per order
Equity options brokerage: ₹20 per lot
Brokerage on orders placed through the API: Not publicly confirmed
API subscription fee: Not publicly confirmed (the MO API is advertised as free, with no fee schedule published)
Market-data / API data fee: Not publicly confirmed
Historical-data access fee (if separate): Not publicly confirmed
DP charges: Scheme-dependent: TRX ₹35 or 0.035% per scrip; 5-Year ₹20 or 0.025%
Pledge and unpledge charges: ₹35 per pledge instruction; margin/CUSPA pledge up to ₹25 per ISIN
MTF interest rate: Not publicly confirmed
Call-and-trade charge: Not publicly confirmed
Auto-square-off charge: Not publicly confirmed
Other plan fees or important conditions: Value Pack scheme; other charges up to 0.02% cash, 0.006% futures, 0.06% options

Read the full Motilal Oswal review

Shoonya by Finvasia

Account-opening fee: ₹0
Annual maintenance charge (AMC): ₹0 for individuals; ₹900 for corporate, trust and LLP accounts
Equity delivery brokerage: ₹0
Equity intraday brokerage: Lower of ₹5 or 0.03% per executed order
Equity futures brokerage: Lower of ₹5 or 0.03% per executed order
Equity options brokerage: Flat ₹5 per executed order
Brokerage on orders placed through the API: Standard brokerage applies; API access itself is free
API subscription fee: Free
Market-data / API data fee: Free
Historical-data access fee (if separate): Free (intraday and daily endpoints)
DP charges: ₹9 + GST per scrip on sell
Pledge and unpledge charges: ₹20 per instruction (pledge and unpledge)
MTF interest rate: Not publicly confirmed
Call-and-trade charge: ₹0
Auto-square-off charge: Not publicly confirmed
Other plan fees or important conditions: Clearing and platform charges ₹0

Read the full Shoonya by Finvasia review

FYERS

Account-opening fee: ₹0
Annual maintenance charge (AMC): ₹0
Equity delivery brokerage: Lower of ₹20 or 0.3% per order (Standard); Prime ₹15 or 0.3%
Equity intraday brokerage: Lower of ₹20 or 0.03% per order (Standard); Prime ₹15 or 0.03%
Equity futures brokerage: Lower of ₹20 or 0.03% per order (Standard); Prime ₹15 or 0.03%
Equity options brokerage: Flat ₹20 per order (Standard); Prime ₹15
Brokerage on orders placed through the API: Standard brokerage applies to API orders
API subscription fee: Free
Market-data / API data fee: Free (historical, quotes and real-time)
Historical-data access fee (if separate): Free
DP charges: ₹12.5 + GST per scrip on sell; ₹0 on buy
Pledge and unpledge charges: Margin pledge ₹5 + GST; unpledge ₹0; MTF pledge ₹12 + GST; MTF unpledge ₹12 + GST
MTF interest rate: 0% up to ₹1,000, then 12.49% to 16.49% p.a. by slab
Call-and-trade charge: ₹50 + GST per order
Auto-square-off charge: ₹50 + GST per order
Other plan fees or important conditions: FYERS Prime ₹4,990 per year (₹499/month) lowers brokerage to ₹15/order

Read the full FYERS review

Platform Comparison

Platform features decide whether a broker fits your workflow, and they are harder to compare than prices because the same capability is often provided through a third party. Every cell uses one of four labels, Yes, Third-party, No or Not publicly confirmed, and each is explained at the top of the window that opens.

Opens the full platform comparison for all twelve brokers, with a broker-by-broker view for reading one platform at a time. On a phone the matrix scrolls sideways inside the window.

Platform Comparison, all twelve brokers

Yes confirmed broker feature
Third-party available through an external provider or integration
No the broker explicitly confirms it is unavailable
Not publicly confirmed no current official confirmation found

Platform Comparison: each row is an item and each column is a broker
Item	Groww	Zerodha	Angel One	ICICI Direct	Upstox	Kotak Securities / Kotak Neo	HDFC Securities / HDFC Sky	Dhan	SBI Securities	Motilal Oswal	Shoonya by Finvasia	FYERS
Mobile trading app	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes
Web trading platform	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes
Desktop trading platform	Not publicly confirmed (Groww Terminal runs in the browser)	Not publicly confirmed	Not publicly confirmed	Yes (Trade Racer)	Not publicly confirmed (Upstox Pro Web runs in the browser)	Yes (NEST terminal)	Not publicly confirmed	Yes (DEXT T3)	Not publicly confirmed	Not publicly confirmed	Yes	Yes
Third-party charting integration (e.g. TradingView)	Not publicly confirmed	Third-party	Third-party	Not publicly confirmed	Third-party	Not publicly confirmed	Third-party	Third-party	Not publicly confirmed	Not publicly confirmed	Not publicly confirmed	Third-party
Built-in option chain	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Not publicly confirmed	Not publicly confirmed	Yes	Yes
Options strategy builder	Not publicly confirmed	Third-party	Yes	Yes	Yes	Not publicly confirmed	Yes	Yes	Not publicly confirmed	Yes	Yes	Yes
Algo tools or marketplace	Yes	Not publicly confirmed	Yes	Yes	Yes	Yes	Yes	Yes	Not publicly confirmed	Yes	Yes	Yes
Trading API available	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Not publicly confirmed	Yes	Yes	Yes
API subscription fee	₹499 + taxes per month (early-bird rate)	Personal APIs free; Kite Connect ₹500 per month per API key	Free (SmartAPI)	₹0 (Breeze)	Free	₹0	Not publicly confirmed	Trading API free; Data API ₹499/month; Pro Trader's Plan ₹999/month (annual ₹799/month)	Not publicly confirmed	Free	Free	Free
Historical data through the API	Yes	Yes	Yes	Yes	Yes	Yes	Not publicly confirmed	Yes	Not publicly confirmed	Yes	Yes	Yes
Published historical-data coverage or lookback	Intraday intervals from 1 min to 4 hr for about 3 months; daily up to about 3 years; weekly full history	Historical candles through the paid Kite Connect plan; limits depend on instrument and interval	Historical candles available through the API; per-request limits are published separately from total archive depth	About 3 years of second-level and F&O historical data; 1-second and 1-minute intervals supported	Intraday candles for several months, limits stated per interval; daily about 1 year; weekly and monthly about 10 years	Up to 180 days daily and weekly; 30 to 90 days intraday depending on interval (nse_cm, nse_fo, bse_cm, bse_fo only)	Not publicly confirmed	Intraday (1/5/15/25/60-minute) up to 5 years, 90 days per request; daily back to instrument inception; expired options up to 5 years	Not publicly confirmed	EOD data endpoints documented; exact historical retention not published	Intraday and daily historical endpoints; maximum lookback not published	Intraday up to 5 years and daily up to 25 years for supported instruments
OMS ownership disclosure	Not publicly confirmed	Not publicly confirmed	Not publicly confirmed	Not publicly confirmed	Not publicly confirmed	Not publicly confirmed	Not publicly confirmed	In-house (DEXTS, Dhan Exchange Trading System)	Not publicly confirmed	Not publicly confirmed	Not publicly confirmed	Not publicly confirmed
Important platform note	Groww app, web and Groww Terminal (browser). The API is marketed as an algo-trading platform.	Kite, Console and Coin. The strategy builder comes through Sensibull, a third-party platform, not Zerodha itself.	Angel One app, web and Super App options tools. Some options and charting tools come through third parties such as Sensibull and TradingView; verify which parts are native.	ICICI Direct app and web plus the Trade Racer terminal. Breeze REST API is free (100 calls/min, 5,000/day).	Upstox app and web with TradingView charts and Scalper. Trading and data APIs are free; option-chain and market-information endpoints are documented.	Kotak Neo app and web plus the NEST terminal. The Neo Trade API is free (10 orders/sec, 75/min).	HDFC Sky app and web with TradingView and ChartIQ charting (tv.hdfcsky.com). HDFC Sky Open APIs are documented at developer.hdfcsky.com; coverage is not published.	Dhan app and web, Options Trader, DEXT T3 and TradingView integration. DhanHQ documents its order pipeline as powered by the Dhan Exchange Trading System (DEXTS). The Pro Trader's Plan adds 200-level market depth and the technical, market-movers, CAS live-feed and news APIs, with a fundamentals API listed as coming soon.	SBI Securities app and web. No public retail developer API or complete historical-data specification was confirmed for this comparison; a proposed or tendered algo platform is not a live customer feature.	RIISE app, web platforms and Research 360. The MO API provides end-of-day data endpoints; onboarding conditions are not published.	Shoonya app, web and desktop with FnO Edge. Trading APIs are free.	FYERS app, FYERS Web and FYERS Trader with TradingView integration. Trading API and market data are listed as free.

Broker by broker

Groww

Mobile trading app: Yes
Web trading platform: Yes
Desktop trading platform: Not publicly confirmed (Groww Terminal runs in the browser)
Third-party charting integration (e.g. TradingView): Not publicly confirmed
Built-in option chain: Yes
Options strategy builder: Not publicly confirmed
Algo tools or marketplace: Yes
Trading API available: Yes
API subscription fee: ₹499 + taxes per month (early-bird rate)
Historical data through the API: Yes
Published historical-data coverage or lookback: Intraday intervals from 1 min to 4 hr for about 3 months; daily up to about 3 years; weekly full history
OMS ownership disclosure: Not publicly confirmed
Important platform note: Groww app, web and Groww Terminal (browser). The API is marketed as an algo-trading platform.

Read the full Groww review

Zerodha

Mobile trading app: Yes
Web trading platform: Yes
Desktop trading platform: Not publicly confirmed
Third-party charting integration (e.g. TradingView): Third-party
Built-in option chain: Yes
Options strategy builder: Third-party
Algo tools or marketplace: Not publicly confirmed
Trading API available: Yes
API subscription fee: Personal APIs free; Kite Connect ₹500 per month per API key
Historical data through the API: Yes
Published historical-data coverage or lookback: Historical candles through the paid Kite Connect plan; limits depend on instrument and interval
OMS ownership disclosure: Not publicly confirmed
Important platform note: Kite, Console and Coin. The strategy builder comes through Sensibull, a third-party platform, not Zerodha itself.

Read the full Zerodha review

Angel One

Mobile trading app: Yes
Web trading platform: Yes
Desktop trading platform: Not publicly confirmed
Third-party charting integration (e.g. TradingView): Third-party
Built-in option chain: Yes
Options strategy builder: Yes
Algo tools or marketplace: Yes
Trading API available: Yes
API subscription fee: Free (SmartAPI)
Historical data through the API: Yes
Published historical-data coverage or lookback: Historical candles available through the API; per-request limits are published separately from total archive depth
OMS ownership disclosure: Not publicly confirmed
Important platform note: Angel One app, web and Super App options tools. Some options and charting tools come through third parties such as Sensibull and TradingView; verify which parts are native.

Read the full Angel One review

ICICI Direct

Mobile trading app: Yes
Web trading platform: Yes
Desktop trading platform: Yes (Trade Racer)
Third-party charting integration (e.g. TradingView): Not publicly confirmed
Built-in option chain: Yes
Options strategy builder: Yes
Algo tools or marketplace: Yes
Trading API available: Yes
API subscription fee: ₹0 (Breeze)
Historical data through the API: Yes
Published historical-data coverage or lookback: About 3 years of second-level and F&O historical data; 1-second and 1-minute intervals supported
OMS ownership disclosure: Not publicly confirmed
Important platform note: ICICI Direct app and web plus the Trade Racer terminal. Breeze REST API is free (100 calls/min, 5,000/day).

Read the full ICICI Direct review

Upstox

Mobile trading app: Yes
Web trading platform: Yes
Desktop trading platform: Not publicly confirmed (Upstox Pro Web runs in the browser)
Third-party charting integration (e.g. TradingView): Third-party
Built-in option chain: Yes
Options strategy builder: Yes
Algo tools or marketplace: Yes
Trading API available: Yes
API subscription fee: Free
Historical data through the API: Yes
Published historical-data coverage or lookback: Intraday candles for several months, limits stated per interval; daily about 1 year; weekly and monthly about 10 years
OMS ownership disclosure: Not publicly confirmed
Important platform note: Upstox app and web with TradingView charts and Scalper. Trading and data APIs are free; option-chain and market-information endpoints are documented.

Read the full Upstox review

Kotak Securities / Kotak Neo

Mobile trading app: Yes
Web trading platform: Yes
Desktop trading platform: Yes (NEST terminal)
Third-party charting integration (e.g. TradingView): Not publicly confirmed
Built-in option chain: Yes
Options strategy builder: Not publicly confirmed
Algo tools or marketplace: Yes
Trading API available: Yes
API subscription fee: ₹0
Historical data through the API: Yes
Published historical-data coverage or lookback: Up to 180 days daily and weekly; 30 to 90 days intraday depending on interval (nse_cm, nse_fo, bse_cm, bse_fo only)
OMS ownership disclosure: Not publicly confirmed
Important platform note: Kotak Neo app and web plus the NEST terminal. The Neo Trade API is free (10 orders/sec, 75/min).

Read the full Kotak Securities / Kotak Neo review

HDFC Securities / HDFC Sky

Mobile trading app: Yes
Web trading platform: Yes
Desktop trading platform: Not publicly confirmed
Third-party charting integration (e.g. TradingView): Third-party
Built-in option chain: Yes
Options strategy builder: Yes
Algo tools or marketplace: Yes
Trading API available: Yes
API subscription fee: Not publicly confirmed
Historical data through the API: Not publicly confirmed
Published historical-data coverage or lookback: Not publicly confirmed
OMS ownership disclosure: Not publicly confirmed
Important platform note: HDFC Sky app and web with TradingView and ChartIQ charting (tv.hdfcsky.com). HDFC Sky Open APIs are documented at developer.hdfcsky.com; coverage is not published.

Read the full HDFC Securities / HDFC Sky review

Dhan

Mobile trading app: Yes
Web trading platform: Yes
Desktop trading platform: Yes (DEXT T3)
Third-party charting integration (e.g. TradingView): Third-party
Built-in option chain: Yes
Options strategy builder: Yes
Algo tools or marketplace: Yes
Trading API available: Yes
API subscription fee: Trading API free; Data API ₹499/month; Pro Trader's Plan ₹999/month (annual ₹799/month)
Historical data through the API: Yes
Published historical-data coverage or lookback: Intraday (1/5/15/25/60-minute) up to 5 years, 90 days per request; daily back to instrument inception; expired options up to 5 years
OMS ownership disclosure: In-house (DEXTS, Dhan Exchange Trading System)
Important platform note: Dhan app and web, Options Trader, DEXT T3 and TradingView integration. DhanHQ documents its order pipeline as powered by the Dhan Exchange Trading System (DEXTS). The Pro Trader's Plan adds 200-level market depth and the technical, market-movers, CAS live-feed and news APIs, with a fundamentals API listed as coming soon.

Read the full Dhan review

SBI Securities

Mobile trading app: Yes
Web trading platform: Yes
Desktop trading platform: Not publicly confirmed
Third-party charting integration (e.g. TradingView): Not publicly confirmed
Built-in option chain: Not publicly confirmed
Options strategy builder: Not publicly confirmed
Algo tools or marketplace: Not publicly confirmed
Trading API available: Not publicly confirmed
API subscription fee: Not publicly confirmed
Historical data through the API: Not publicly confirmed
Published historical-data coverage or lookback: Not publicly confirmed
OMS ownership disclosure: Not publicly confirmed
Important platform note: SBI Securities app and web. No public retail developer API or complete historical-data specification was confirmed for this comparison; a proposed or tendered algo platform is not a live customer feature.

Read the full SBI Securities review

Motilal Oswal

Mobile trading app: Yes
Web trading platform: Yes
Desktop trading platform: Not publicly confirmed
Third-party charting integration (e.g. TradingView): Not publicly confirmed
Built-in option chain: Not publicly confirmed
Options strategy builder: Yes
Algo tools or marketplace: Yes
Trading API available: Yes
API subscription fee: Free
Historical data through the API: Yes
Published historical-data coverage or lookback: EOD data endpoints documented; exact historical retention not published
OMS ownership disclosure: Not publicly confirmed
Important platform note: RIISE app, web platforms and Research 360. The MO API provides end-of-day data endpoints; onboarding conditions are not published.

Read the full Motilal Oswal review

Shoonya by Finvasia

Mobile trading app: Yes
Web trading platform: Yes
Desktop trading platform: Yes
Third-party charting integration (e.g. TradingView): Not publicly confirmed
Built-in option chain: Yes
Options strategy builder: Yes
Algo tools or marketplace: Yes
Trading API available: Yes
API subscription fee: Free
Historical data through the API: Yes
Published historical-data coverage or lookback: Intraday and daily historical endpoints; maximum lookback not published
OMS ownership disclosure: Not publicly confirmed
Important platform note: Shoonya app, web and desktop with FnO Edge. Trading APIs are free.

Read the full Shoonya by Finvasia review

FYERS

Mobile trading app: Yes
Web trading platform: Yes
Desktop trading platform: Yes
Third-party charting integration (e.g. TradingView): Third-party
Built-in option chain: Yes
Options strategy builder: Yes
Algo tools or marketplace: Yes
Trading API available: Yes
API subscription fee: Free
Historical data through the API: Yes
Published historical-data coverage or lookback: Intraday up to 5 years and daily up to 25 years for supported instruments
OMS ownership disclosure: Not publicly confirmed
Important platform note: FYERS app, FYERS Web and FYERS Trader with TradingView integration. Trading API and market data are listed as free.

Read the full FYERS review

Reviews of the ten largest brokers

Two additional platforms to compare

How to choose a broker

Before opening an account, make a short list based on how you actually invest or trade. Compare broker-specific costs separately from statutory and exchange levies.

Compare broker-specific costs. Check the brokerage plan for each segment, account-opening fee, AMC, DP charges, pledge and unpledge fees, call-and-trade or auto-square-off charges, MTF interest, and any API, market-data, platform or algo subscription. These are the charges most likely to distinguish one broker from another. A "zero brokerage" offer does not mean every broker-side service is free.
Keep statutory and exchange levies separate. STT/CTT, stamp duty, exchange transaction charges and SEBI turnover fees are determined by the relevant rules, segment, exchange and transaction value, not freely set by an individual broker. They still affect your total cost, so include them when estimating what you will pay. But when comparing brokers, don't treat them as a broker advantage or disadvantage for the same trade on the same exchange. GST also has a statutory rate, but it applies to taxable charges such as brokerage and certain fees. Its amount can therefore vary when broker-specific charges vary.
Compare like-for-like examples. Use the same segment, exchange, order type, turnover and number of trades for every broker. Show broker-specific charges, statutory and exchange levies, and GST as separate lines. This gives you a useful total-cost estimate while making clear which charges the broker controls.
Check the market data you need. Compare minute and daily history, options open interest, expired contracts, futures history, candle intervals and per-request limits. "Historical data available" is too vague for a backtest. Include any paid data or API subscription in the broker-specific cost comparison.
Match the platform and service model to your workflow. Compare order types, charts, option-chain tools, watchlists, API support, reports, exit controls and customer support. Check support hours, escalation paths, system-status notices, investor charter and complaint disclosures. A feature list alone does not establish uptime or execution quality.
Verify registration and account terms. Check the broker's registration with SEBI and the relevant exchange, then read the latest tariff and account-opening documents before signing up.

Popularity is a useful starting point, not a verdict. Choose the broker whose broker-specific charges, tools, data access, API rules and service model fit how you actually invest or trade. For a cost comparison, calculate the same representative trades at each broker and keep common statutory and exchange levies visible but separate.

Editorial disclosure: this comparison is for general information and is not investment advice or a recommendation to open an account. Broker terms, product availability and charges may change. Verify all details directly with the broker before acting.