Zero Brokerage Trend
Initially, brokers like Finway Shia were pioneers in offering zero brokerage, but now many of them have started introducing charges again, such as for futures and options, although they still offer some segments for free.
Initially, brokers like Finway Shia were pioneers in offering zero brokerage, but now many of them have started introducing charges again, such as for futures and options, although they still offer some segments for free.
They started with zero brokerage across all segments but now charge a minimal fee for equity delivery (₹10 max) and for options trading (flat ₹10). However, for other segments like futures and options, they charge based on the quantity and value.
Kotak’s Trade Free Youth plan had zero brokerage for delivery, but now they charge ₹10 for options and may start introducing charges for other segments too.
Lemon, backed by CoinSwitch, offers completely free services in all segments—equity delivery, intraday, futures, and options—making it a strong contender for users seeking zero brokerage. It's still new though, so the long-term viability might be uncertain.
This platform stands out because it offers zero brokerage across all segments, including options, delivery, and intraday trading, but requires a one-time fee for account opening. For traders looking for truly zero brokerage across the board, this seems like a top choice.
They offer free brokerage until March 2025 for those who open an account before the end of 2024. After that, they charge ₹0.05 per share for trades.
Type of Broker: Full-service broker, offering more than just trading – you get advisory services, research reports, personalized assistance, and physical branches.
Comparison to Discount Brokers: Unlike discount brokers like Groww or Moneybhai, Kotak offers more services but at a higher cost. Discount brokers usually charge less but provide limited services.
For individuals below 30.
Benefits: Free Account Opening and Zero AMC (Annual Maintenance Charges) for a lifetime. ₹10 Brokerage on intraday trading; Free for long-term investments (equity delivery).
For individuals above 30.
Benefits: ₹50/month AMC (around ₹600/year). ₹10 Brokerage for intraday and F&O (Futures & Options). This plan seems better for active traders who need more services.
If you need margin for trading, Kotak’s MTF plan is a good option, although it’s not as relevant for most retail traders.
Interface: Kotak recently upgraded its platform to Kotak Yo, providing a user-friendly experience with a clean interface, watchlist, investment summary, and a personalized RM (Relationship Manager).
Ease of Use: Even beginners can navigate the platform easily. It includes features like:
Research and Recommendations: As a full-service broker, Kotak offers stock recommendations, technical analysis, and news events related to your portfolio.
Bond and NCD Options: One unique feature of Kotak is the ability to invest in bonds and NCDs (Non-Convertible Debentures), which is not commonly available with other brokers.
Funds Transfer: Easy one-click fund transfers via UPI, net banking, and even through NFT RTGS.
Government Charges: Like STT (Securities Transaction Tax) and stamp duty, which are standard across brokers.
DP Charges: Charges on security debit when you make a sale, generally ranging between ₹1-₹20.