Best Cheap Low Cost Brokers In India

By Shatavisha Chakravorty
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    In the current Indian scenario, there are a number of brokers available as options to an investor. While looking at it from a financial perspective, this may look like a welcome step, however, as an investor, having too many options merely complicates matters.

    Best Cheap Low Cost Brokers in India
    Thus in such a scenario it is of utmost importance to choose the appropriate broker. The factor of charging the lowest brokerage in trading is what makes the primary difference in brokerage charged per trade. Needless to say when the amount of trading taking place is huge, this quantity can affect your trading figures by a significant amount.

    While talking about the best and cheap low cost brokers in India, another factor that we cannot ignore is that of transaction charges.

    It is important to note that all brokers do not charge the same brokerage. The value of this vary by the trading segment as well.

    It is obvious that for the brokers whom we deem as being low cost, this figure is as small as possible. Thus in order to help you with the process of decision making, this article brings to you a list off the best brokers in India who offer you services at the cheapest of rates. Both the brokerage rate and the transaction charges on NSE are discussed in details so that you will be in a position to make an informed decision about the same.

    1) ProStocks

    The brokerage here is Rs 15 per executed order or Rs 899 Unlimited Equity or that of Rs 499 Unlimited Currency. Talking of ProStocks Transaction Charges on NSE, ProStocks gives us a range of options that include Rs 325/Crore Delivery, Rs 325/Crore Intraday and Rs 190/crore Future among others. One may also opt for Rs 5000/crore Options, Rs 100/crore Curr Future or for Rs 4000/crore Curr Options.

    2) Zerodha

    The most important feature of this brokerage is the fact that it offers you the benefits of free equity delivery. The brokerage is Rs 20 or 0.01% whichever is lower in Equity Intraday, F&O, commodity and currency. Speaking about the transaction charges on NSE the options are Rs 325/Crore Delivery, Rs 325/Crore Intraday, Rs 135/crore Currency Future, Rs 4400/crore Curr Options, Rs 5300/crore Options and Rs 210/crore Future.

    3) Upstox

    This also offers free equity delivery. With a brokerage rate of Rs 20 or 0.01% whichever is lower for Equity Intraday, F&O, commodity and currency this is one of the best among the options that are available in the Indian market. The transaction charges on NSE are Rs 325/Crore Delivery, Rs 325/Crore Intraday, Rs 210/crore Future, Rs 5500/crore Options, Rs 150/crore Curr Future and Rs 6000/crore Curr Options.

    4) SAS online

    The online brokerage here is Rs 9 (Equity Delivery, Intraday, F&O commodity and currency) and Rs 999 PM Commodity / Rs 999 PM Equity Cash and F&O / Rs. 499 PM Currency. Thus this is a very good option for people seeking larger investments. The SAS online transaction charges on NSE are Rs 325/Crore Delivery, Rs 325/Crore Intraday, Rs 250/crore Future, Rs 6500/crore Options, Rs 165/crore Curr Future and Rs 6000/crore Curr Options.

    5) Trade Smart Online

    Here the brokerage is Rs 1899 per month for commodity, Rs 1899 per month for Equity Cash and F&O, Rs 999 per month for currency and Rs 15 for Equity Delivery, Intraday, F&O commodity and currency. The transaction charges on NSC are Rs 350/Crore Delivery, Rs 350/Crore Intraday, Rs 240/crore Future, Rs 7150/crore Options, Rs 165/crore Curr Future and Rs 6000/crore Curr Options.

    Conclusion 

    As far as low cost brokers is concerned it must also be informed that most of the aspects like account opening, contracts are done in the electronic form and online. So, do not expect door to door service from low cost brokers. 

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    Read more about: zerodha low cost brokers
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