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Best Intraday Trading Brokers in India


Best Intraday Trading Brokers in India 2023

Are you an intraday trader? If yes, then brokerage must be your utmost concern to look in. You must select brokers who are offering low-cost intraday trading services. Check below the top 10 or the best intraday trading brokers in India with the cheapest brokerage rates.

What is Intraday Trading?

Intraday trading means buying and selling securities on the same trading day before the market closure (3:30 PM). Thus, all the open positions are squared off the same day in intraday trading. If you are bullish on a company's shares, you can place an MIS order (Margin Intraday Squared off) to buy shares first and sell them later to earn gains. However, if you're bearish and expect share prices to move down, then you can sell shares first and buy them later (short selling). If you don't close an open MIS position, then your broker itself will close it at applicable auto square-off charges.

Best Broker for Intraday Trading

Day trading is available across all the segments such as equity, Equity F&O, commodity, and currency. Every broker provides equity intraday trading services to customers but finding the best intraday trading broker is quite challenging. Intraday traders mainly look for the lowest flat brokerage charges on intraday trading along with factors including the highest intraday exposure, intraday trading calls & tips, research, and a free advanced trading platform (desktop trading terminal) with a powerful charting feature to select the right broker. Here is the list of Top 10 or Best intraday trading brokers in India - 2023.

Best Intraday Trading Brokers in India 2023

Broker Equity Intraday Brokerage Intraday Trading calls,
Tips, Research
Review Request Callback
Zerodha0.03% or Rs 20 whichever is lowerNoZerodha ReviewOpen Account
Upstox0.05% or Rs 20 whichever is lower NoUpstox ReviewOpen Account
Angel OneFlat Rs 20 or 0.25% whichever is lowerYesAngel One ReviewOpen Account
NuvamaFlat Rs. 10 per executed orderYesNuvama ReviewOpen Account
Fyers0.03% or Rs 20 whichever is lowerNoFyers ReviewOpen Account
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  • ProStocksFlat Fee Rs 15NoProStocks ReviewOpen Account
    Paytm Money0.05% or Rs 15 whichever is lowerNoPaytm Money ReviewOpen Account
    5paisaFlat Fee Rs 20Yes5paisa ReviewOpen Account
    Alice Blue0.05% or Rs 15 whichever is lowerNoAlice Blue ReviewOpen Account
    Groww0.05% or Rs 20 whichever is lowerNoGroww ReviewOpen Account

    Intraday Trading Pros & Cons

    Pros Cons
  • Opportunity to make short-term profits.
  • Margin or exposure availability on day trading.
  • No overnight risks of aftermarket events.
  • Flat brokerage on intraday trading irrespective of trade volume.
  • Advanced orders such as BO (Bracket Order) and CO (Cover Order) minimize trading risks.
    • High risk on intraday trading.
    • If share prices move opposite to the expectation, then you incur significant loss and the trade cannot be carried forward to the next trading day.
    • If you forgot to close your positions, then broker levies auto square off charges.
    • Day trading is not recommended to beginners as it requires an in-depth understanding and a disciplined approach.

    Best Intraday Trading Brokers in India 2023 – Conclusion

    Among all brokers, Zerodha ranked as the top intraday trading broker in India that offers day trading at Max Rs. 20 per order brokerage on the Kite platform. ProStocks also topped the best intraday broker list by offering free unlimited equity and equity derivatives trading at just Rs. 899 per month or customers can even trade at Flat Rs. 15/per executed order. However, if you are a beginner then Angel Broking, Edelweiss Securities, Motilal Oswal, HDFC Securities, etc. are the top brokers who offer intraday trading calls, tips, and research recommendations.

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    FAQs

    Zerodha, Upstox, Angel One, Sharekhan, Fyers are a few of the top intraday trading brokers that offer online trading at Rs. 20 per order flat brokerage charges. Among all, Zerodha is the best broker for day trading based on the following facts;

    1. Lowest Intraday brokerage charges at Maximum Rs. 20 per order brokerage.
    2. Super-fast technology, high-performance, and feature-enriched Kite online trading platform.
    3. 6 charts, 100+ technical indicators, 20+ drawing tools, and multiple chart view features.
    4. Trade from the chart facility.
    5. Bracket order (BO) and cover orders (CO) are also available on the Kite.

     

    Prostocks is an online discount stock broker that offers two plans; 1. Unlimited Monthly Plan or Flat Fee Plan. If you are a day trader expert and actively engaged in intraday trading, then ProStocks Monthly plan at Rs. 899 is the best for you to trade at nil brokerage fees. However, if you are not an active intraday trader, and place a few trades in a month, then you can start trading at Flat Rs. 15/per order brokerage.

    Day trading in Prostocks is available through the Free ProStocks mobile app, trading website, or ProStocks desktop trading terminal. The platform provides real-time intraday charts for 7 days at different timeframes i.e. 1 min, 5 min, 15 min, 30 min, 60 min, and daily. Customers can even place buy and sell orders from charts on the ProStocks Desktop trading software.

     

    Upstox charges Max Rs. 20 per order brokerage on intraday trading in equity, derivatives, commodity, and currency segment. You can open Upstox Trading & Demat Account and start day trading across segments to avail following benefits;

    • A lower of Rs. 20 per executed order or 0.05% intraday brokerage fee.
    • Free Upstox Pro mobile app and web-based trading platform.
    • Access to 12+ charts and 107+ technical indicators to perform technical analysis.
    • Upstox Developer API (Algo platform).
    • Advanced orders i.e. Bracket order (BO), Cover Order (CO), and One cancel other (OCO) order.

     

    Kotak Securities Trade Free Plan charges Zero brokerage on intraday trading across segments – equity, equity Derivatives (F&O), commodity, and currency. It means intraday traders have to pay Rs. 0 brokerage fee on all intraday trades executed. Customers can also get free access to market research and Top Stock Picks by experts. Users can start intraday trading through the Kotak Stock Trader app, Trade Smart Terminal, or a trading website.

     

    Intraday trading is subject to significant risks as you can even lose full money invested so you must think carefully before trading. First-time day traders must choose full-service brokers who offer intraday trading tips, research, & recommendations to assist users in selecting the right stock for intraday trading.

    Angel One (Rs. 20/order) and Edelweiss Securities (Rs. 10/order) offers flat-brokerage intraday trading, whereas Motilal Oswal and HDFC Securities charge 0.05% brokerage on intraday trading services.

     


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