Cheapest broker for currency trading
On a ₹85,000 currency futures contract bought and sold, Flattrade is cheapest at ₹0.99 including taxes and fees. The costliest, 5paisa, Alice Blue, Angel One and 11 more, charge ₹48.19 each for the same trade. On currency options with ₹1,000 premium, bought and sold, Flattrade is cheapest at ₹0.74 including taxes and fees. The costliest, 5paisa, Alice Blue, Angel One and 10 more, charge ₹47.94 each for the same trade.
October 2026 ranking. Broker rates checked 31 Oct 2026 against each broker’s official charges page.
Check any NSE stock in the calculatorWhat a currency futures trade costs
Currency futures and options carry no STT, so brokerage and exchange charges make up almost the whole cost. Not every broker offers currency derivatives; those that don’t are listed below the rankings.
Currency futures: all 20 plans ranked
A ₹85,000 currency futures contract bought and sold. Totals include brokerage, 18% GST, STT, exchange and SEBI fees, stamp duty.
| # | Broker and plan | Brokerage rule | Brokerage on this trade | Total with taxes | More than cheapest |
|---|---|---|---|---|---|
| 1 | Flattrade | ₹0 | ₹0.00 | ₹0.99 | Cheapest |
| 2 | Shoonyaby FinvasiaRates from comparison sites * | ₹5 or 0.03% (whichever is lower) | ₹10.00 | ₹12.79 | +₹11.80 |
| 3 | Kotak NeoTrade Free (30+) | ₹10 per order | ₹20.00 | ₹24.59 | +₹23.60 |
| 3 | Sahi | ₹10 or 0.05% (whichever is lower) | ₹20.00 | ₹24.59 | +₹23.60 |
| 3 | m.Stock | ₹10 per order | ₹20.00 | ₹24.59 | +₹23.60 |
| 6 | SharekhanDefault plan | 0.02% of trade value | ₹34.00 | ₹41.11 | +₹40.12 |
| 7 | 5paisa | ₹20 per order | ₹40.00 | ₹48.19 | +₹47.20 |
| 7 | Alice Blue | ₹20 or 0.05% (whichever is lower) | ₹40.00 | ₹48.19 | +₹47.20 |
| 7 | Angel One | ₹20 per order | ₹40.00 | ₹48.19 | +₹47.20 |
| 7 | Dhan | ₹20 or 0.03% (whichever is lower) | ₹40.00 | ₹48.19 | +₹47.20 |
| 7 | FYERS | ₹20 or 0.03% (whichever is lower) | ₹40.00 | ₹48.19 | +₹47.20 |
| 7 | HDFC Sky | ₹20 per order | ₹40.00 | ₹48.19 | +₹47.20 |
| 7 | ICICI DirectMoneySaver (default) | ₹20 per order | ₹40.00 | ₹48.19 | +₹47.20 |
| 7 | ICICI DirectiValue add-on | ₹20 per order | ₹40.00 | ₹48.19 | +₹47.20 |
| 7 | IIFL CapitalInvestor Plan | ₹20 per lot | ₹40.00 | ₹48.19 | +₹47.20 |
| 7 | Motilal OswalDefault | ₹20 per lot | ₹40.00 | ₹48.19 | +₹47.20 |
| 7 | Samco | ₹20 per order | ₹40.00 | ₹48.19 | +₹47.20 |
| 7 | Tradejini | ₹20 per order | ₹40.00 | ₹48.19 | +₹47.20 |
| 7 | Upstox | ₹20 or 0.05% (whichever is lower) | ₹40.00 | ₹48.19 | +₹47.20 |
| 7 | Zerodha | ₹20 or 0.03% (whichever is lower) | ₹40.00 | ₹48.19 | +₹47.20 |
* Shoonya does not publish its full rate card, so its rates come from comparison sites. Confirm with the broker before opening an account.
Not offered by Groww and Paytm Money.
Offered but no rate published by INDmoney, ProStocks Flat Fee Plan and Bajaj Broking Freedom Pack.
What changes the currency futures ranking
- Taxes and exchange fees come to ₹0.99 on this trade at every broker. Brokerage and its GST add ₹0.00 to ₹47.20 on top, which is where the plans differ.
- Flattrade is the only plan with ₹0 brokerage here.
- Sharekhan Default plan charges a percentage of the trade, so the bill grows with size: on a ₹42.5 lakh contract, 50 lots bought and sold, Sharekhan Default plan’s brokerage alone is ₹1,700.00.
- IIFL Capital Investor Plan and Motilal Oswal Default charge per lot rather than per order. On a ₹42.5 lakh contract, 50 lots, bought and sold, IIFL Capital Investor Plan’s brokerage alone is ₹2,000.00.
- Flattrade stays cheapest at every size tested, from a ₹85,000 contract, 1 lot to a ₹42.5 lakh contract, 50 lots.
Does trade size change the answer?
| Trade bought and sold | Cheapest | Next cheapest | Costliest |
|---|---|---|---|
| ₹85,000 contract, 1 lot | Flattrade₹0.99 | Shoonya by Finvasia₹12.79 | 5paisa, Alice Blue and 12 more₹48.19 |
| ₹8.5 lakh contract, 10 lots | Flattrade₹9.88 | Shoonya by Finvasia₹21.68 | IIFL Capital Investor Plan and Motilal Oswal Default₹481.88 |
| ₹42.5 lakh contract, 50 lots | Flattrade₹49.39 | Shoonya by Finvasia₹61.19 | IIFL Capital Investor Plan and Motilal Oswal Default₹2,409.39 |
Currency options: all 20 plans ranked
Currency options with ₹1,000 premium, bought and sold. Totals include brokerage, 18% GST, STT, exchange and SEBI fees, stamp duty.
| # | Broker and plan | Brokerage rule | Brokerage on this trade | Total with taxes | More than cheapest |
|---|---|---|---|---|---|
| 1 | Flattrade | ₹0 | ₹0.00 | ₹0.74 | Cheapest |
| 2 | SharekhanDefault plan | ₹5 per lot | ₹10.00 | ₹12.54 | +₹11.80 |
| 2 | Shoonyaby FinvasiaRates from comparison sites * | ₹5 per order | ₹10.00 | ₹12.54 | +₹11.80 |
| 4 | IIFL CapitalInvestor Plan | ₹8 per lot | ₹16.00 | ₹19.62 | +₹18.88 |
| 5 | Kotak NeoTrade Free (30+) | ₹10 per order | ₹20.00 | ₹24.34 | +₹23.60 |
| 5 | Sahi | ₹10 per order | ₹20.00 | ₹24.34 | +₹23.60 |
| 5 | m.Stock | ₹10 per order | ₹20.00 | ₹24.34 | +₹23.60 |
| 8 | 5paisa | ₹20 per order | ₹40.00 | ₹47.94 | +₹47.20 |
| 8 | Alice Blue | ₹20 per order | ₹40.00 | ₹47.94 | +₹47.20 |
| 8 | Angel One | ₹20 per order | ₹40.00 | ₹47.94 | +₹47.20 |
| 8 | Dhan | ₹20 per order | ₹40.00 | ₹47.94 | +₹47.20 |
| 8 | FYERS | ₹20 per order | ₹40.00 | ₹47.94 | +₹47.20 |
| 8 | HDFC Sky | ₹20 per order | ₹40.00 | ₹47.94 | +₹47.20 |
| 8 | ICICI DirectMoneySaver (default) | ₹20 per order | ₹40.00 | ₹47.94 | +₹47.20 |
| 8 | ICICI DirectiValue add-on | ₹20 per order | ₹40.00 | ₹47.94 | +₹47.20 |
| 8 | Motilal OswalDefault | ₹20 per lot | ₹40.00 | ₹47.94 | +₹47.20 |
| 8 | Samco | ₹20 per order | ₹40.00 | ₹47.94 | +₹47.20 |
| 8 | Tradejini | ₹20 per order | ₹40.00 | ₹47.94 | +₹47.20 |
| 8 | Upstox | ₹20 per order | ₹40.00 | ₹47.94 | +₹47.20 |
| 8 | Zerodha | ₹20 per order | ₹40.00 | ₹47.94 | +₹47.20 |
* Shoonya does not publish its full rate card, so its rates come from comparison sites. Confirm with the broker before opening an account.
Not offered by Groww and Paytm Money.
Offered but no rate published by INDmoney, ProStocks Flat Fee Plan and Bajaj Broking Freedom Pack.
What changes the currency options ranking
- Taxes and exchange fees come to ₹0.74 on this trade at every broker. Brokerage and its GST add ₹0.00 to ₹47.20 on top, which is where the plans differ.
- Flattrade is the only plan with ₹0 brokerage here.
- Sharekhan Default plan, IIFL Capital Investor Plan and Motilal Oswal Default charge per lot rather than per order. On ₹25,000 premium, 50 lots, bought and sold, Motilal Oswal Default’s brokerage alone is ₹2,000.00.
- Flattrade stays cheapest at every size tested, from ₹1,000 premium, 2 lots to ₹25,000 premium, 50 lots.
Does trade size change the answer?
| Premium bought and sold | Cheapest | Next cheapest | Costliest |
|---|---|---|---|
| ₹1,000 premium, 2 lots | Flattrade₹0.74 | Shoonya by Finvasia₹12.54 | Motilal Oswal Default₹95.14 |
| ₹5,000 premium, 10 lots | Flattrade₹3.69 | Shoonya by Finvasia₹15.49 | Motilal Oswal Default₹475.69 |
| ₹25,000 premium, 50 lots | Flattrade₹18.43 | Shoonya by Finvasia₹30.23 | Motilal Oswal Default₹2,378.43 |
Common questions
Which is the cheapest broker for currency trading in India?
On a ₹85,000 currency futures contract bought and sold, Flattrade is cheapest at ₹0.99 including taxes and fees. The costliest, 5paisa, Alice Blue, Angel One and 11 more, charge ₹48.19 each for the same trade. On currency options with ₹1,000 premium, bought and sold, Flattrade is cheapest at ₹0.74 including taxes and fees. The costliest, 5paisa, Alice Blue, Angel One and 10 more, charge ₹47.94 each for the same trade. Rates checked 31 Oct 2026.
Which brokers don’t offer currency trading?
Groww and Paytm Money do not offer currency trading. INDmoney, ProStocks Flat Fee Plan and Bajaj Broking Freedom Pack offer it but do not publish their rates, so they are left out of the ranking.