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Intraday trading refers to purchasing and selling stocks on the same day. Although making profits is the main objective, there are other factors involved in trading, such as fees, which impact profitability. Despite having a good trading strategy, you might still end up making less profit owing to the high trading costs involved. Therefore, comparing brokerage fees for intraday transactions is necessary.
Why brokerage comparison matters in intraday trading
In intraday trading, fees are charged on both entry and exit, so cost becomes a critical factor in every transaction.
A tiny amount of broker commission, such as ₹20 per transaction, becomes significant in active trading, where even 10-15 transactions can result in total expenses of ₹200-₹300 per day.
The brokerage fee is a fixed charge that will be charged irrespective of the profits or losses made by the client. Hence, performance is assessed through net profit, not market profit.
Since taxes and exchange charges are similar for all brokers, low-brokerage schemes cut down only a portion of the cost, but not the total trading cost.
Breakdown of intraday trading charges
Intraday trading costs include a number of small costs, levied individually by different agencies involved in the process of trading:
- Brokerage charged by the broker
This is the brokerage fee that is charged to execute your trade orders. It is the only expense which differs among different brokers. - STT (Securities Transaction Tax)
This is a government tax imposed upon the sale of a stock through intraday trading. This fee is calculated based on the transaction amount and cuts into your net gain from the sale. - Stock exchange charges (NSE/BSE fees)
These are small charges made by the stock exchange for carrying out transactions. - GST on brokerage and exchange charges
There is an 18% GST imposed on the brokerages and exchange charges, adding a slight increase to every transaction. - Stamp duty (buying side tax, State level)
This is a state government tax imposed when purchasing stocks during intraday transactions. It varies from State to State and is applicable on the purchase value.
How intraday brokerage is structured in India
In India, stock brokers generally follow a few common pricing models to levy brokerage charges. Let’s break them down.
1. Flat fee model (discount brokers)
Under this model, a commission is levied by the brokers for each transaction that is made at a flat rate, regardless of its volume.
Sometimes, there is a comparison made by the broker between the fixed rate and the percentage of the total value of the transaction, with the minimum being charged.
Let us take an example where the broker charges ₹20 for each trade or 0.1% of the trade’s value, whichever is less. If a person makes a trade that is valued at ₹50,000, the percentage becomes ₹50. Since ₹20 is lower than ₹50, the broker will levy a commission of ₹20.
This model is popular among discount brokers because it is easy to calculate and it enables investors to gauge the charges in advance.
2. Percentage-based brokerage
Some conventional brokers take a certain percentage of the total trade amount as brokerage.
In this system, the larger the trade amount, the higher the brokerage charged. Thus, this model suits those who are interested in advisory-based systems.
3. Subscription-based plans (limited usage)
A few brokers provide subscription plans wherein traders are charged a fixed amount on a monthly or annual basis for a bundle of trading services or unlimited transactions.
4. Zero brokerage (segment-specific)
There are also some brokers that provide trading at zero brokerage, but only for specific segments. However, statutory charges like STT and taxes remain applicable.
Intraday brokerage charges comparison
Here’s a quick comparison of intraday brokerage charges of popular brokers:
| Broker | Intraday Brokerage | Pricing structure | AMC (Demat) | Practical Insight |
| Dhan | ₹20 or 0.03% per order (whichever is lower) | Flat + capped model | ₹0 (lifetime free) | Trading oriented platform with standardised pricing and no maintenance charges for individuals |
| Zerodha | ₹20 or 0.03% per oder (whichever is lower) | Flat + capped model | ₹300/year + GST | Reliable execution and robust market exposure. |
| Upstox | ₹20 or 0.1% per order(whichever is lower) | Capped brokerage Model | ₹0 for first year, ₹300/year thereafter (plan-dependent) | Flexible pricing structure with discounts for AMC provided to new customers. |
| Angel One | ₹20 or 0.1% (whichever lower) | Capped per-order brokerage model | First year ₹0; subsequent years AMC charge applicable in quarters for non-BSDA members (₹60 + GST); BSDA members could have zero AMC based on their portfolio. | Feature-rich platform with advisory tools and research support |
| Groww | ₹20 or 0.1% per order (whichever is lower) | Capped brokerage model | ₹0 | User-friendly interface, suitable for simple trades |
At first glance, all brokers seem to charge similarly. But upon a closer analysis, there are some differences between the two in terms of design, cost estimation, and usage.
The cost predictability is more important to an active trader than small price differences.
Selecting a broker cannot be based solely on the lowest brokerage for intraday, but also on how such charges are levied while trading.
Conclusion
Comparison between intraday brokers is not just a comparison between price check, but an analysis of the real cost of transaction. As taxes and other regulatory charges remain constant, the differences lie only in the brokerage and its efficiency. A broker who provides the best app for intraday trading, transparent prices and consistent execution of orders can make a significant impact, since intraday trading needs both speed and cost management.