For those trading in high volumes, broking charges assume great importance. For example, in the futures and options segment the value could run into millions and any brokerage charges based on the value can become expensive.
It's important to note that you might not get the regular service that you are looking out for, in a low cost broker. For example, when opening an account with Zerodha, one has to either visit the office or download the forms from the company's website and then courier the same. There is a company person who will guide you to fill the forms.
Some other brokerages like Sharekhan are not low cost brokers, but, they send an executive to guide you through the entire process of opening an account.
Here is a comparison of the lowest share broking charges in India.
R K Global
R K Global charges a Rs 999 unlimited plan. So, if your number of trades are likely to be very high per day, this is an ideal scheme for you.
My Value Trade
My Value trade is also a low cost broker that offers low brokerage. The firm charges Rs 10 per executed order. This is the lowest and best broking charges in India.
Zerodha was amongst the first to launch the pay per trade scheme. So, no matter how much value you trade in, you just pay the firm a brokerage charge of Rs 20 per transaction. So, while other brokerages charge based on the value, here you pay per transaction. So, it does no matter if your trade value is Rs 10 million of Rs 100 million. This is a great scheme if you are trading high in value.
It's important to note that you do not get service like contract notes or an executive coming to open your account, like other brokerage houses.
This is another broker that has the cheapest share broking charges in India and has better charges than Zerodha. Under its Dream plans the company charges a brokerage of just Rs 20 per trade. In addition to this you can have five free trades per month.
Like peers the brokerage charges is a flat fee of Rs 20 per executed trade at Trade Jini. The brokerages software for traders is also user friendly. You can either login or download the software.
SAS Online is among the top broking firms with a turnover of Rs 4300 crore per day. Interestingly, when it comes to brokerage charges the company beats Trade Jini, RKSV and Zerodha. SAS Online has the lowest share broking charges among low cost brokers at Rs 9 per executed order.
CompositEdge structure for charges is slightly different from other broking houses. The firm charges Rs 18 for the first 1000 transactions and Rs 15 thereafter.
Clearly, there are many low cost brokerages in India today. You need to carefully analyze the charges and take a call before you open an account.