8 Cheapest Low Cost Brokers To Open A Share Trading Account

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Low cost brokers are also called discount brokers. They offer either a monthly flat fee, or offer brokerages per transaction. This means they do not offer you transaction on value basis.

For example, if you have bought shares worth Rs 1 lakh, and a broker charges you 0.25 per cent brokerage for delivery, you have to pay Rs 250. These brokers, however, charge per transaction, which means you could end-up paying Rs 10, 20 or a maximum Rs 30 as brokerage, which is very cheap. We have tried to get accurate rates, though may still differ. You need to talk to the respective brokers.

Here are 8 low cost brokers in India, which would help you save on brokerage charges.

SAS Online

When it comes to brokerage per trade, there is nothing to beat SAS Online. The firm charges a flat brokerage of Rs 9 per trade, which is the best in the business.

Interestingly, you also get margins against your shares and the same charges apply whether you are trading or for delivery trades. This is the cheapest low cost broker in India.

Zerodha

This firm revolutionized the concept of low cost broking and was the first to start a flat fee structure.

The firm charges Rs 20 per transaction, irrespective of the volume. This is for the F&O segment, equity segment and whether you trade or take delivery.

RKSV

RKSV has a very unique proposition for traders. If you hold a trade until the next day, the brokerage firm charges zero brokerage.

This is risky for traders though, given that you may not know what happens tomorrow. Otherwise, it is Rs 20 for trades including shares, commodities, forex and currency.

Trade Smart Online

Trade Smart Online is another low cost share broker or call it discount broker, if you wish. The charges per trade is Rs 15, irrespective of the value of the order. You can get exposure for up to 4 times for delivery based transactions.

There is no minimum commitment that is required.

Tradejini

Tradejini charges are similar to Zerodha at Rs 20 per transaction. This is across all segments including equities and forex.

There is an integrated trading platform for equities, derivatives and commodities.

My Value Trade

My Value Trade is the best in the business, when one compares to price per trade. At Rs 10 per executed trade, it is just Re 1 below that being charged by SAS Online.

You can trade across segments and there is no wrapped-up charges. The company claims to do a turnover of Rs 4500 crores per day. Among the cheapest low cost brokers in India.

CompositEdge

CompositEdge like all of the above has a flat fee structure of Rs 18 per transaction. There are no minimums and no hidden costs.

You can trade in stocks, commodities and the futures segment.

Trade Plus Online

You pay Rs 99 and you get unlimited currency trading and commodities trading. Equity intraday trading comes at @ 0.01% & Equity Delivery @0.10%.

Read more about: brokers
Story first published: Tuesday, May 24, 2016, 8:37 [IST]
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