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Cheapest Stock Broker in India 2026

Ranked by total cost of ownership — free delivery, flat F&O, zero/low AMC and the lowest MTF interest. Rates verified March 2026.

  1. #1

    Dhan

    Free delivery, ₹0 AMC and the lowest MTF interest (~12.49% p.a.) — the cheapest all-round for active + margin traders.

    Delivery: ₹0 (free)F&O: ₹20/tradeMTF: ~12.49% p.a.AMC: ₹0 (free)
    Dhan charges & review →
  2. #2

    Zerodha

    Free delivery and flat ₹20 F&O; ₹300 AMC is the only cost. Cheapest if you only do delivery + F&O.

    Delivery: ₹0 (free)F&O: ₹20/tradeMTF: ~14.6% p.a.AMC: ₹300/year
    Zerodha charges & review →
  3. #3

    Upstox

    Free delivery, ₹150 AMC — lower AMC than Zerodha, but the highest MTF rate (~18.25%).

    Delivery: ₹0 (free)F&O: ₹20/tradeMTF: ~18.25% p.a.AMC: ₹150/year
    Upstox charges & review →
  4. #4

    Groww

    Zero AMC, but ₹20/0.1% on delivery (not free). Cheap to hold, slightly costlier to trade delivery.

    Delivery: ₹20/trade or 0.1% (whichever is lower)F&O: ₹20/tradeMTF: ~14.95% p.a.AMC: ₹0 (free)
    Groww charges & review →
  5. #5

    Angel One

    ₹20/0.1% delivery and ₹240/year AMC after year one — offset by bundled research and advisory.

    Delivery: ₹20/trade or 0.1% (lower, min ₹5)F&O: ₹20/tradeMTF: ~14.99% p.a.AMC: ₹0 first year, then ₹240/year
    Angel One charges & review →

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Rankings reflect Downstox's editorial assessment of verified public charges (March 2026) and are not paid placements. Verify current charges on each broker's site before opening an account.