Cheapest broker for F&O and options trading
On an options trade with ₹10,000 premium, bought and sold, Flattrade is cheapest at ₹23.71 including taxes and fees. The costliest plan, ICICI Direct MoneySaver (default), charges ₹139.35 for the same trade. On a ₹10 lakh futures contract bought and sold, Flattrade is cheapest at ₹565.55 including taxes and fees. The costliest plan, ICICI Direct MoneySaver (default), charges ₹1,249.95 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 an options trade costs
Most discount brokers charge a flat fee per options order however many lots it holds, but a few plans charge per lot, which adds up fast on multi-lot orders. Since 1 April 2026, STT is 0.05% of the sell value on futures and 0.15% of the premium sold on options.
Equity options: all 25 plans ranked
An options trade with ₹10,000 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 | ₹23.71 | Cheapest |
| 2 | Shoonyaby FinvasiaRates from comparison sites * | ₹5 per order | ₹10.00 | ₹35.51 | +₹11.80 |
| 3 | Kotak NeoTrade Free (30+) | ₹10 per order | ₹20.00 | ₹47.31 | +₹23.60 |
| 3 | Sahi | ₹10 per order | ₹20.00 | ₹47.31 | +₹23.60 |
| 3 | m.Stock | ₹10 per order | ₹20.00 | ₹47.31 | +₹23.60 |
| 6 | ProStocksFlat Fee Plan | ₹15 per order | ₹30.00 | ₹59.11 | +₹35.40 |
| 7 | 5paisa | ₹20 per order | ₹40.00 | ₹70.91 | +₹47.20 |
| 7 | Alice Blue | ₹20 per order | ₹40.00 | ₹70.91 | +₹47.20 |
| 7 | Angel One | ₹20 per order | ₹40.00 | ₹70.91 | +₹47.20 |
| 7 | Bajaj BrokingFreedom Pack | ₹20 per order | ₹40.00 | ₹70.91 | +₹47.20 |
| 7 | Dhan | ₹20 per order | ₹40.00 | ₹70.91 | +₹47.20 |
| 7 | FYERS | ₹20 per order | ₹40.00 | ₹70.91 | +₹47.20 |
| 7 | Groww | ₹20 per order | ₹40.00 | ₹70.91 | +₹47.20 |
| 7 | HDFC Sky | ₹20 per order | ₹40.00 | ₹70.91 | +₹47.20 |
| 7 | ICICI DirectiValue add-on | ₹20 per order | ₹40.00 | ₹70.91 | +₹47.20 |
| 7 | INDmoney | ₹20 per order | ₹40.00 | ₹70.91 | +₹47.20 |
| 7 | Motilal OswalDefault | ₹20 per lot | ₹40.00 | ₹70.91 | +₹47.20 |
| 7 | Paytm MoneyRates from comparison sites * | ₹20 per order | ₹40.00 | ₹70.91 | +₹47.20 |
| 7 | Samco | ₹20 per order | ₹40.00 | ₹70.91 | +₹47.20 |
| 7 | Tradejini | ₹20 per order | ₹40.00 | ₹70.91 | +₹47.20 |
| 7 | Upstox | ₹20 per order | ₹40.00 | ₹70.91 | +₹47.20 |
| 7 | Zerodha | ₹20 per order | ₹40.00 | ₹70.91 | +₹47.20 |
| 23 | IIFL CapitalInvestor Plan | ₹25 per lot | ₹50.00 | ₹82.71 | +₹59.00 |
| 24 | SharekhanDefault plan | ₹39 per lot | ₹78.00 | ₹115.75 | +₹92.04 |
| 25 | ICICI DirectMoneySaver (default) | ₹49 per lot | ₹98.00 | ₹139.35 | +₹115.64 |
* Shoonya and Paytm Money do not publish their full rate card, so their rates come from comparison sites. Confirm with the broker before opening an account.
What changes the options ranking
- Taxes and exchange fees come to ₹23.71 on this trade at every broker. Brokerage and its GST add ₹0.00 to ₹115.64 on top, which is where the plans differ.
- Flattrade is the only plan with ₹0 brokerage here.
- Motilal Oswal Default, IIFL Capital Investor Plan, Sharekhan Default plan and ICICI Direct MoneySaver (default) charge per lot rather than per order. On ₹1 lakh premium, 20 lots, bought and sold, ICICI Direct MoneySaver (default)’s brokerage alone is ₹1,960.00.
- Flattrade stays cheapest at every size tested, from ₹5,000 premium, 1 lot to ₹1 lakh premium, 20 lots.
Does trade size change the answer?
| Premium bought and sold | Cheapest | Next cheapest | Costliest |
|---|---|---|---|
| ₹5,000 premium, 1 lot | Flattrade₹11.85 | Shoonya by Finvasia₹23.65 | ICICI Direct MoneySaver (default)₹127.49 |
| ₹10,000 premium, 1 lot | Flattrade₹23.71 | Shoonya by Finvasia₹35.51 | ICICI Direct MoneySaver (default)₹139.35 |
| ₹25,000 premium, 5 lots | Flattrade₹59.27 | Shoonya by Finvasia₹71.07 | ICICI Direct MoneySaver (default)₹637.47 |
| ₹1 lakh premium, 20 lots | Flattrade₹237.09 | Shoonya by Finvasia₹248.89 | ICICI Direct MoneySaver (default)₹2,549.89 |
Equity futures: all 25 plans ranked
A ₹10 lakh 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 | ₹565.55 | Cheapest |
| 2 | Shoonyaby FinvasiaRates from comparison sites * | ₹5 or 0.03% (whichever is lower) | ₹10.00 | ₹577.35 | +₹11.80 |
| 3 | Kotak NeoTrade Free (30+) | ₹10 per order | ₹20.00 | ₹589.15 | +₹23.60 |
| 3 | Sahi | ₹10 per order | ₹20.00 | ₹589.15 | +₹23.60 |
| 3 | m.Stock | ₹10 per order | ₹20.00 | ₹589.15 | +₹23.60 |
| 6 | ProStocksFlat Fee Plan | ₹15 per order | ₹30.00 | ₹600.95 | +₹35.40 |
| 7 | 5paisa | ₹20 per order | ₹40.00 | ₹612.75 | +₹47.20 |
| 7 | Alice Blue | ₹20 or 0.05% (whichever is lower) | ₹40.00 | ₹612.75 | +₹47.20 |
| 7 | Angel One | ₹20 per order | ₹40.00 | ₹612.75 | +₹47.20 |
| 7 | Bajaj BrokingFreedom Pack | ₹20 per order | ₹40.00 | ₹612.75 | +₹47.20 |
| 7 | Dhan | ₹20 per order | ₹40.00 | ₹612.75 | +₹47.20 |
| 7 | FYERS | ₹20 or 0.03% (whichever is lower) | ₹40.00 | ₹612.75 | +₹47.20 |
| 7 | Groww | ₹20 per order | ₹40.00 | ₹612.75 | +₹47.20 |
| 7 | HDFC Sky | ₹20 per order | ₹40.00 | ₹612.75 | +₹47.20 |
| 7 | ICICI DirectiValue add-on | ₹20 per order | ₹40.00 | ₹612.75 | +₹47.20 |
| 7 | INDmoney | ₹20 per order | ₹40.00 | ₹612.75 | +₹47.20 |
| 7 | Paytm MoneyRates from comparison sites * | ₹20 or 0.02% (whichever is lower) | ₹40.00 | ₹612.75 | +₹47.20 |
| 7 | Samco | ₹20 per order | ₹40.00 | ₹612.75 | +₹47.20 |
| 7 | Tradejini | ₹20 or 0.05% (whichever is lower) | ₹40.00 | ₹612.75 | +₹47.20 |
| 7 | Upstox | ₹20 or 0.05% (whichever is lower) | ₹40.00 | ₹612.75 | +₹47.20 |
| 7 | Zerodha | ₹20 or 0.03% (whichever is lower) | ₹40.00 | ₹612.75 | +₹47.20 |
| 22 | Motilal OswalDefault | 0.02% of trade value | ₹400.00 | ₹1,037.55 | +₹472.00 |
| 22 | SharekhanDefault plan | 0.02% of trade value | ₹400.00 | ₹1,037.55 | +₹472.00 |
| 24 | IIFL CapitalInvestor Plan | 0.025% of trade value | ₹500.00 | ₹1,155.55 | +₹590.00 |
| 25 | ICICI DirectMoneySaver (default) | 0.029% of trade value | ₹580.00 | ₹1,249.95 | +₹684.40 |
* Shoonya and Paytm Money do not publish their full rate card, so their rates come from comparison sites. Confirm with the broker before opening an account.
What changes the futures ranking
- Taxes and exchange fees come to ₹565.55 on this trade at every broker. Brokerage and its GST add ₹0.00 to ₹684.40 on top, which is where the plans differ.
- Flattrade is the only plan with ₹0 brokerage here.
- Motilal Oswal Default, Sharekhan Default plan, IIFL Capital Investor Plan and ICICI Direct MoneySaver (default) charge a percentage of the trade, so the bill grows with size: on a ₹50 lakh contract bought and sold, ICICI Direct MoneySaver (default)’s brokerage alone is ₹2,900.00.
- Flattrade stays cheapest at every size tested, from a ₹5 lakh contract to a ₹50 lakh contract.
Does trade size change the answer?
| Trade bought and sold | Cheapest | Next cheapest | Costliest |
|---|---|---|---|
| ₹5 lakh contract | Flattrade₹282.77 | Shoonya by Finvasia₹294.57 | ICICI Direct MoneySaver (default)₹624.97 |
| ₹10 lakh contract | Flattrade₹565.55 | Shoonya by Finvasia₹577.35 | ICICI Direct MoneySaver (default)₹1,249.95 |
| ₹25 lakh contract | Flattrade₹1,413.87 | Shoonya by Finvasia₹1,425.67 | ICICI Direct MoneySaver (default)₹3,124.87 |
| ₹50 lakh contract | Flattrade₹2,827.74 | Shoonya by Finvasia₹2,839.54 | ICICI Direct MoneySaver (default)₹6,249.74 |
Common questions
Which is the cheapest broker for F&O trading in India?
On an options trade with ₹10,000 premium, bought and sold, Flattrade is cheapest at ₹23.71 including taxes and fees. The costliest plan, ICICI Direct MoneySaver (default), charges ₹139.35 for the same trade. On a ₹10 lakh futures contract bought and sold, Flattrade is cheapest at ₹565.55 including taxes and fees. The costliest plan, ICICI Direct MoneySaver (default), charges ₹1,249.95 for the same trade. Rates checked 31 Oct 2026.
Do brokers charge options brokerage per order or per lot?
Most charge a flat fee per order, whatever the number of lots. Motilal Oswal Default, IIFL Capital Investor Plan, Sharekhan Default plan and ICICI Direct MoneySaver (default) charge per lot instead. On ₹1 lakh premium, 20 lots, bought and sold, brokerage is ₹40.00 at Zerodha, which charges ₹20 per order, and ₹1,960.00 at ICICI Direct MoneySaver (default).