16 brokers ranked by the true all-in cost on a ₹50,000 delivery trade. Every charge included — brokerage, DP charge, AMC, STT, exchange fees, SEBI fee, stamp duty. No affiliates. No sponsored rankings.
Total cost includes brokerage, GST on brokerage, DP charge, STT, exchange charges, SEBI fee, and stamp duty. The regulatory portion (₹111.24 on this trade) is fixed by government and identical at every broker. Budget 2026: futures STT raised to 0.05%, options STT to 0.15%, effective April 1 2026.
| # | Broker | Delivery | DP Charge | AMC/yr | Total (₹50K) |
|---|---|---|---|---|---|
| 1 | Dhan Discount | Zero | ₹14.75/scrip | Free | ₹126.26 |
| 2 | Zerodha Discount ★ Editor's Pick | Zero | ₹15.34/scrip | ₹88.50 | ₹126.85 |
| 3 | mStock Discount | Zero | ₹21.24/scrip | ₹259/qtr | ₹132.75 |
| 4 | Sahi Discount | ₹10 flat | ₹13.50/scrip | Free | ₹148.61 |
| 5 | Fyers Discount | ₹20 or 0.3% | ₹14.75/scrip | Free | ₹173.46 |
| 6 | Share.Market Discount | ₹2–₹20 | ₹18.50/scrip | Free | ₹177.21 |
| 7 | Groww Discount | ₹5–₹20 | ₹20/scrip | Free | ₹178.71 |
| 7 | Upstox Discount | ₹20 flat | ₹20/scrip | ₹300/yr | ₹178.71 |
| 7 | Angel One Discount | ₹2–₹20 | ₹20/scrip | ₹283/yr | ₹178.71 |
| 10 | Paytm Money Discount | Cap ₹20/order | ₹20/scrip | Free | ₹178.71 |
| 11 | INDmoney Discount | ₹2–₹20 | ₹21.83/scrip | Free | ₹180.54 |
| 12 | 5paisa Discount | ₹20 flat | ₹23.60/scrip | ₹354/yr | ₹182.31 |
| FULL-SERVICE BROKERS — research, advisory, bank integration | |||||
| 13 | Kotak Securities Full-Service | 0.2% | 0.04% min ₹20 | ₹600/yr | ₹367.51 |
| 14 | ICICI Direct Full-Service | 0.25% | ₹23.60/scrip | ₹826/yr | ₹430.11 |
| 15 | Axis Securities Full-Service | 0.5% min ₹25 | Zero | ₹885/yr | ₹701.51 |
| 16 | HDFC Securities Full-Service | 0.5% min ₹25 | 0.04% min ₹20 | ₹885/yr | ₹721.51 |
Total cost on ₹50,000 delivery trade (buy + sell). Regulatory charges — STT ₹100, exchange fee ₹2.97, SEBI fee ₹0.51, stamp duty ₹7.50, GST on exchange ₹0.53 — total ₹111.24 — are fixed by law and identical at all brokers. ★ Editor's Pick based on platform quality, track record, and financial strength.
| Charge | Who collects | Amount (₹50K delivery) | Can you reduce it? |
|---|---|---|---|
| Brokerage | Broker | ₹0–₹590 depending on broker | Yes — choose a zero-brokerage broker |
| DP Charge | Broker + Depository | ₹13.50–₹30 per scrip per sell | Partially — choose broker with lower DP |
| AMC | Broker | ₹0–₹885/year | Yes — many discount brokers charge zero |
| STT | Government | ₹100.00 | No — fixed by law |
| Exchange Fee + GST | NSE/BSE | ₹3.50 | No — fixed by regulation |
| SEBI Fee | SEBI | ₹0.51 | No — fixed by regulation |
| Stamp Duty | State Government | ₹7.50 | No — fixed by state law |