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we may earn a commission if you open an account through them, at no extra cost to you.
Our rankings are based on the criteria below, not commissions.
Quick comparison | Account opening | Annual charges (AMC) | Delivery brokerage | Intraday / F&O | Best for |
|---|
| Groww | ₹0 | ₹0 | ₹20 or 0.05%/order | ₹20/order | Beginners, mutual funds |
|---|
| Zerodha | ₹0–300 (promos vary) | ₹300/yr | ₹0 | ₹20 or 0.03%/order | Active traders, F&O |
|---|
| Upstox | ₹0 (promos) | ₹0–150/yr | ₹20 or 2.5%/order | ₹20/order | Beginners + traders |
|---|
| Angel One | ₹0 | ₹0 first yr, then ~₹450/yr | ₹0 | ₹20/order | Beginners wanting guidance |
|---|
| ICICI Direct | ₹0–975 | ~₹300–700/yr | 0.55% | ₹20–0.05% plans | ICICI bank customers |
|---|
Groww
Simplest for first-time investorsPros
- Zero account-opening and annual charges
- Cleanest app for beginners
- Direct mutual funds free
- Fast paperless KYC
Cons
- Fewer pro trading tools than Zerodha
- Customer support is mostly ticket-based
- No commodity segment for a long time
Zerodha
The trader’s default choicePros
- Zero brokerage on equity delivery
- Best-in-class Kite platform and ecosystem (Coin, Console, Sensibull)
- Largest discount broker — proven reliability
- Free direct mutual funds via Coin
Cons
- ₹300/yr AMC — not free
- Account opening can be slower at peak times
- App can overwhelm total beginners
Upstox
Groww-like pricing with a pro optionPros
- Frequent zero-opening-fee promos
- Good mobile app with TradingView charts
- Flat ₹20 orders across segments
- Backed by Tiger Global / Ratan Tata
Cons
- Delivery brokerage is not free like Zerodha
- AMC rules have changed — check current terms
- Occasional platform outages on volatile days
Angel One
Discount broker with advisory extrasPros
- Free delivery trades
- Research/advisory tips included
- Strong presence in tier-2/3 India
- Flat ₹20 intraday and F&O
Cons
- AMC kicks in after year one
- App pushes notifications/promos heavily
- Research quality is hit-or-miss
ICICI Direct
Full-service broker for ICICI customersPros
- 3-in-1 account: banking + trading + demat in one login
- Full-service research and RM support
- IPO, NCD, and bond access in one place
- Trusted legacy brand
Cons
- Most expensive option on this list
- 0.55% delivery brokerage hurts active investors
- Interface feels dated vs new-age apps
How we compare
We compare the five brokers most Indian retail investors actually choose between — on the four fees that decide real cost (opening, AMC, delivery, intraday), platform quality, and who each is genuinely best for. Fees shown are the publicly listed rates as of September 2026; brokers change pricing and run zero-fee promos often, so verify on the official site before opening an account. We may earn a referral commission from links on this page — it does not change our rankings.
Bottom line:For most beginners, Groww or Upstox — free accounts, clean apps, flat ₹20 orders. For serious traders, Zerodha still wins on platform depth. If you already bank with ICICI and want everything in one login, ICICI Direct is the convenience pick despite higher fees.