Broker Charges Guide
Zerodha vs Groww vs Upstox vs Angel One vs Kotak: Brokerage Charges Compared
Every broker publishes its own rate card, but none of them show you the actual rupee total next to a competitor's. Here's the exact same trade, run through 10 brokers' real charge structures, side by side.
Delivery trade: Buy 100 shares @ ₹1,000, sell @ ₹1,050
| Broker | Brokerage | Total charges |
|---|---|---|
| Dhan | ₹0.00 | ₹242.41 |
| Zerodha | ₹0.00 | ₹243.00 |
| Fyers | ₹40.00 | ₹278.99 |
| INDmoney | ₹40.00 | ₹296.69 |
| Groww | ₹40.00 | ₹298.46 |
| Angel One | ₹40.00 | ₹298.46 |
| Upstox | ₹40.00 | ₹298.69 |
| Kotak Securities | ₹410.00 | ₹761.02 |
| ICICI Direct | ₹594.50 | ₹952.77 |
| HDFC Securities | ₹1,025.00 | ₹1,458.99 |
The gap here is almost entirely brokerage: STT, exchange charges, SEBI charges, and stamp duty are government/exchange-set rates every broker pays identically. The discount brokers (Dhan, Zerodha, Fyers, INDmoney, Groww, Angel One, Upstox) charge ₹0–40 in brokerage; the full-service brokers (Kotak, ICICI Direct, HDFC Securities) charge a percentage of turnover instead, which scales up fast on a larger trade.
Intraday trade: Buy 100 shares @ ₹1,000, sell @ ₹1,010 (same day)
| Broker | Brokerage | Total charges |
|---|---|---|
| Kotak Securities | ₹20.00 | ₹59.37 |
| Zerodha | ₹40.00 | ₹82.97 |
| Groww | ₹40.00 | ₹82.97 |
| Angel One | ₹40.00 | ₹82.97 |
| Dhan | ₹40.00 | ₹82.97 |
| Fyers | ₹40.00 | ₹82.97 |
| INDmoney | ₹40.00 | ₹82.97 |
| Upstox | ₹40.00 | ₹83.20 |
| ICICI Direct | ₹58.29 | ₹104.55 |
| HDFC Securities | ₹100.50 | ₹154.36 |
Interesting reversal here: Kotak Securities' intraday rate (₹10 or 0.05%, whichever lower) actually undercuts every discount broker's ₹20/leg cap on this specific trade size — a reminder that "discount broker" and "cheapest for every trade" aren't always the same thing. The right answer depends on your typical trade size and how often you trade delivery vs. intraday.
The honest takeaway
There's no single "cheapest broker" — it depends on your trade size, how often you trade delivery vs. intraday, and whether you value a discount broker's low cost over a full-service broker's research/advisory desk. What matters is knowing the real number for your actual trades, not a rate card's headline percentage.
See this for your own trades, automatically
Tradzer calculates exact charges across all 10 of these brokers (plus 4 US-stock brokers) the moment you log a trade — so you always know your real net P&L, not just the gross number. Free to try, no credit card needed.
Try Tradzer free →→ Full breakdown of every individual charge Zerodha applies to a trade
Independent, unofficial estimates computed from each broker's own publicly published rate schedule as of 2026. Not affiliated with, endorsed by, or officially connected to Zerodha, Groww, Upstox, Angel One, Dhan, Fyers, INDmoney, Kotak Securities, ICICI Direct, HDFC Securities, or any other broker named here. Brokers periodically revise brokerage/DP charges, and the government periodically revises STT/stamp duty — figures may not exactly match your real contract note. Always reconcile against that.