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Best Broker for Intraday Trading

Best Broker for Intraday Trading in India - Margin, Tips

Intraday trading is among the most popular trading segment in India. Finding the best broker for intraday trading is challenging. Compare intraday brokerage and exposure margin for top stock brokers in India to find the best brokerage firm for intraday.

Intraday trading (or day trading) is buying and selling the stocks within the same trading day. In day trading, the trading positions (buy or sell) are closed before the market closes for the trading day. If the trader fails to close the position (reverse sell or buy the same stock in same quantity) by the agreed intraday square-off time, the broker forcefully square-off the open position. Intra-day trading is done in all the segments including Equity, Equity F&O, Currency F&O and Commodities F&O. The trader who does day trading is called Day Trader.

Best Online Broker for Intraday

All stock brokers offer day trading but to make day trading profitable, it requires a broker who has the following qualities:

  • Lowest brokerage (preferable flat rate brokerage with no minimum brokerage)
  • Higher intraday margin (exposure)
  • Trading platform for free (especially desktop trading terminal)
  • Research Reports
  • Excellent Customer Service

For more detail read Best Stock Broker for Day Trading.

Below table provides a set of information which can be used to find the best broker for intraday trading.

Best Brokerage Firm for Intraday Trading

Broker Brokerage (Equity Intraday) Request Callback Review
ProStocks Free (Rs 899 per Month Unlimited Trading)
or Rs 15 per trade
Open Online Account ProStocks Review
ZerodhaRs 20 per executed order or .03% whichever is lowerOpen Account Zerodha Review
UpstoxRs 20 per executed order or 0.05% whichever is lowerOpen Account Upstox Review
Angel BrokingRs 20 per executed orderOpen Account Angel Broking Review
GrowwRs 20 per executed order or 0.05% whichever is lowerOpen AccountGroww Review
5paisaRs 20 per executed orderOpen Account 5paisa Review
Kotak SecuritiesFreeOpen AccountKotak Securities Review
HDFC Securities0.05%Open AccountHDFC Securities Review
IIFL SecuritiesRs 20 per orderOpen Account IIFL Securities Review
Motilal Oswal0.05% (both side)Open AccountMotilal Oswal Review
Sharekhan0.10%Open AccountSharekhan Review
SBI Securities0.05%Open AccountSBI Securities Review
AxisDirect0.05%Open AccountAxisDirect Review
Paytm MoneyLower of 0.05% or Rs 10 per executed orderOpen Account Paytm Money Review
Geojit0.03%Open AccountGeojit Review
EdelweissRs 10 per executed orderOpen Account Edelweiss Review

For good intraday trading experience customer should look for:

  • Best broker for Intraday Tips,
  • Best broker for Intraday Margin,
  • Best broker platform for Intraday and
  • Best brokerage charges for intraday.

Pros & Cons of Day Trading

Advantages of Day TradingDisadvantages of Day Trading
  • Opportunity to make big profits with a small investment.
  • The broker offers a higher margin for day trading.
  • All trades are cleared on the same day. The trader doesn't have to worry about aftermarket events.
  • If you miss to square off the trade, the broker does that automatically.
  • The advance order types (bracket order, cover order) help in reducing the risks.
  • Discount stock brokers made the day trading very profitable.
  • High-risk trading instrument. The losses are enormous.
  • Trades are automatically squared-off on agreed time with a broker. This trade cannot be carried forward to the next day.
  • Day trading is a full-time job. It requires an in-depth understanding of stock trading.
  • Day trading is not for beginners.

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