Brokerage Free Stock Trading
Zero brokerage on equity delivery is one of the most searched topics in Indian retail investing — and also one of the most misunderstood. The headline "free delivery trading" is technically true at several brokers, but "free" only means the broker's own commission is ₹0. Government taxes, exchange charges, and DP charges still apply every time you trade.
Equity delivery trading (CNC) means you buy shares and hold them overnight or longer. Shares are credited to your demat account by T+1. You become a legal shareholder and can hold for days, months, or years. This is the segment where most brokers offer ₹0 brokerage.
Groww: ₹20 or 0.1% for delivery. Upstox: ₹20 flat. ICICI Direct: 0.29%. HDFC Securities: 0.50%. Kotak Securities: 0.25% or ₹20.
1. DP Charge on every sell: ₹10–₹20+GST per ISIN. Applies at ALL brokers including zero-brokerage ones.
2. Intraday and F&O are never free: ₹5–₹20/order at all brokers.
3. STT is bigger than brokerage: 0.1% both sides = ₹200+ on a ₹1 lakh trade. Unavoidable at every broker.
| Broker | Delivery | Intraday/F&O | AMC | DP (sell) | Best For |
|---|---|---|---|---|---|
| Zerodha | ₹0 | ₹20 | ₹300/yr | ₹15.34+GST | Active traders + investors |
| Angel One | ₹0 | ₹20 | ₹0 yr1 | ₹20+GST | Beginners + research |
| Dhan | ₹0 | ₹20 | ₹0 lifetime | ₹12.5+GST | F&O traders + investors |
| Paytm Money | ₹0 | ₹10 | ₹0 | ₹20+GST | Paytm users + NPS |
| 5paisa | ₹0 | ₹10 | ₹0 yr1 | ₹20+GST | Cost-conscious + research |
| INDmoney | ₹0 | ₹20 | ₹0 lifetime | ₹18.5+GST | India + US stock investors |
| m,Stock | ₹0 | ₹5 ★ | ₹0 (lifetime plan) | ₹12.5+GST | High-volume delivery + F&O |
★ m,Stock ₹5/order is the lowest intraday/F&O brokerage among all mainstream Indian brokers. All statutory charges (STT 0.1% both sides for delivery, exchange fees, GST, stamp duty) are identical at every broker. Charges verified from official broker pricing pages, April 2026.
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Disclaimer: Data verified from official broker pricing pages as of April 2026. Not investment advice.
Frequently Asked Questions:
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1. Which broker offers completely free delivery trading in India?
No broker is completely free — STT (0.1% both sides), exchange fees, GST, stamp duty, and DP charges always apply. However, Zerodha, Angel One, Dhan, Paytm Money, 5paisa, INDmoney, and m,Stock charge ₹0 brokerage on equity delivery. Government taxes and DP charges are unavoidable at every broker.
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2. Does Groww offer free delivery trading?
No. This is a very common misconception. Groww charges ₹20 or 0.1% of trade value (whichever is lower) for equity delivery — the same rate as intraday. Despite being India's largest broker by active clients, Groww does not offer zero delivery brokerage. For free delivery, use Zerodha, Dhan, or Angel One.
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3. Does Upstox offer free delivery trading?
No. Upstox charges ₹20 flat for equity delivery trades. It does not offer zero delivery brokerage. If free delivery is your priority, switch to Zerodha, Dhan, or m,Stock.
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4. What is a DP charge and do I pay it at zero-brokerage brokers too?
Yes, DP charge applies at all brokers including those with ₹0 delivery brokerage. It is levied by the depository (CDSL/NSDL) + broker every time you sell shares from your demat account. It covers the cost of electronically debiting shares from your account. Range: ₹12.5+GST (Dhan, m,Stock) to ₹20+GST (Zerodha, Angel One, Groww). You pay the DP charge per ISIN per sell transaction, separate from brokerage.
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5. Which broker has the lowest DP charge in India?
Among mainstream brokers, Shoonya (Finvasia) charges ₹9+GST — the lowest DP. Dhan and m,Stock charge ₹12.5+GST. Zerodha charges ₹15.34+GST. HDFC SKY, Groww, Angel One, and ICICI Direct charge ₹20+GST. If you sell shares very frequently, DP charge selection matters as much as brokerage.
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6. Is free delivery trading at discount brokers better than ICICI Direct or HDFC Securities?
For cost savings: yes, massively. At ICICI Direct default plan, brokerage on a ₹1 lakh delivery buy = ₹290. At Zerodha it is ₹0. Over a year of active investing, savings can be tens of thousands. However, ICICI Direct provides SEBI RA research, 3-in-1 banking integration, relationship managers, and 50+ financial products — which have real value. Choose zero-brokerage brokers if you invest independently; choose full-service if you need guidance, research, and banking integration.
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7. Which zero-brokerage delivery broker should I choose as a beginner?
For pure simplicity: Angel One (zero delivery + AI research + guided app). For the most trusted platform: Zerodha (zero delivery + best-in-class Kite + Varsity education). For zero AMC + zero delivery combination: Dhan (also ₹0 lifetime AMC). All three are SEBI-registered, CDSL/NSDL DP participants, with strong track records.
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