How to reduce brokerage fees in stock market?

Published on Sunday, July 13, 2014 by Chittorgarh.com Team | Modified on Sunday, August 9, 2020

If you still paying brokerage in percent (%) of your trade; the below information can save over 80% of your brokerage bill. Trust us; it's possible and proven.

A new type of brokerage plan has picked up popularity in recent years and by now over 1.5 lakh customers already moved to them.

These brokerage plans are known as 'Discount Brokerage Plan' or 'Budget Brokerage Plan' or 'Flat Fee Discount Brokerage Plan' or 'Unlimited Brokerage Plan'. Some people also call them 'Zero % Brokerage Plans'.

While there are many stock/commodity brokers in India started offering these plans; the following are some of the popular brokers who have proved their credibility over the last 4-5 years:

1. ProStocks (Rs 899 - Unlimited Trading Plan)

   Cheapest and the best online discount stock broker ProStocks is among the popular brokers in India. ProStocks Monthly Plan cost Rs 899 for unlimited Equity and Equity Derivatives trading. This plan offers saving of up to 90% in brokerage charges.

   ProStocks also offers Rs 499 unlimited currency trading at BSE and NSE.

   If you are a volume trader or day trader; nothing can be cheaper than this.

   Another popular pricing plan from ProStocks is Flat Rs 15 per trade plan. In this plan, irrespective of the size of the trade, you pay just Rs 15 per executed order at BSE, and NSE in Equity, Equity Derivatives and Currency Derivatives segments.

2. Zerodha (Trade at Rs 20 Flat)

   Zerodha is a pioneer of discount brokerage plans and the leading discount broker in India. Zerodha charges flat Rs 20 max (or 0.01% whichever is less) for any trade at BSE, NSE and MCX in Equity, Commodity and Currency Derivatives segments. Zerodha has around 100,000 customers.

3. Other Discount Brokers

   The following are a few other discount brokers who offer different variations of discount brokerage plans. They all can save your brokerage bill significantly and are good for a certain type of traders. All of them are safe as they are registered with SEBI and Stock Exchanges and being regulated by them.

   • Edelweiss (Rs 10/trade)
   • 5Paisa (Rs 10/trade)
   • Trade Smart Online
   • SAS Online
   • Tradejini

Conclusion: If you want to save brokerage; try a discount broker. If you have already tried a discount broker; checkout other brokers who are offering more creative brokerage plans to suit your trading needs.