Some of the best brokers offering lowest intraday brokerage in India are restricted in number. Even when you go through the list of more than 300 share brokers in India you would see a few of them who would actually offer value of money services when it is about intraday trading.
Lowest Brokerage for Intraday Trading in India
It is quite crucial for the traders and investors to know about the most suitable and appropriate share brokers for Intraday trade or day trading. After all, the Intraday trading is quite rapid and the traders have to be quite active for making quick and consistent profits out of the trades. But, before starting the list of the best stock brokers for Intraday trade. First, let us understand the concept of Intraday trade and check the aspects that the trades have to know. It’s useful significantly for the beginners who just began their journey.
What exactly is Intraday trading?
Intraday trading basically is the style of trade where you purchase and sell the shares within the same day of trading. For example, if you purchased 50 stocks of Infosys Technologies on the 6th of October, then you should sell them before the sharemarket closes the same day.
Similarly, when you are short of 80 shares of ICICI Bank on the 3rd of Sept, then you should buy all the 80 shares the same day. However, when you do not or when you are not able of squaring off the trade the same day, the stockbroker would automatically square off from the holdings.
Also, there is always the option of changing the type of order from Intraday to Delivery in the “BUY” trades before the closing of the market. In fact, the trade platforms that you employ for trading offer you these type of provisions.
What should you not do in the Intraday trading?
Amongst the other things, there’re certain aspects which should be taken good care of while starting your Intraday trade in the share market in India.
- Start low with the amount which you might risk losing in the trades
- You should always stay objective and fix clear targets and stop the price of loss while entering the stock purchases. Also, you should ensure that you stick to the price commodities without actually including the emotional biases
- Trading within the small range of shares and do not overwhelm yourself
- Keep the greed on the check that is it is okay to be greedy but which could actually bring in the subjective biases that are quite dangerous for Intraday trade
- Perform apt research and do not be carried away with whatever others want to say.
Lowest brokerage charges for intraday trading in India
Moving onto the lowest intraday brokerage India, a few top stock brokers for intraday trade in India are Reliance Securities, Zerodha, 5Paisa, Angel Broking and ProStocks.
Reliance Securities is the full-service share broker which has its presence in more than 1700 towns and cities of India and a customer base of 92,907 active customers.
For Intraday trade, you get the below-mentioned benefits from Reliance Securities:
- A strongly designed and a decent performance-based application for mobile- Reliance Tick Pro
- Quick client assistance with a reasonable turnaround time
- Offers regular recommendations as well as research
- 10 times the exposure for Equity Intraday trading
5Paisa is the discount trading wing of India Infoline that offers best lowest intraday brokerage. It is a significant name in full-service share broking space. The stockbroker was established a couple of years ago and it provides a wide range of stock trading products. A few top aspects include:
- A Low stock brokerage fee of Rs. 10 per executed trade
- Decent and suitable performance-based trade platforms across different devices like 5Paisa Terminal 5Paisa Trading Station, Algo Trading ad 5Paisa mobile application.
- Quick client assistance through phone and email
- Offers Intraday tips regularly
Angel Broking, a popular stockbroking firm offering lowest intraday brokerage in India in the share market in India was established in 1987. Even though here we’re discussing the intraday trading, for the long term investors, it’s come up recently with the auto recommendations engine known as ARQ.
It’s only to give you the idea of the type of focus that the stockbroker has on the enablement of technology and the innovation on this otherwise the industry which lags technology.
With a base of 3, 95,228 active customers as of 2018-2019, Angel Broking provided the below-mentioned merits when it is about Intraday Trading:
- High quality tips, research as well as recommendations through SMS, email, WhatsApp and phone
- A wide presence offline too through a network of more than 9000 franchises and sub-brokers in India
- High performance trade platforms including Angel Broking Mobile App, Angel Broking Speed Pro and Angel Broking web Trade
- A well-diversified range of stock trading products
Zerodha, one of the top share brokers in India, significantly amongst discount stock brokers in India is one of the favourites of traders and investors. Within a period of just 6 to 7 years, the stockbroker has captured quite a decent share in the stock market. It has developed a base of about 1.75 lakh active users within 2017.
In case you’re willing to trade at the Intraday level, then you would get the below-mentioned advantages:
- lowest intraday brokerage India
- Low stock brokerage fee of Rs. 20 which could lower than but definitely not more than Rs. 20 for every executed trade
- Well-designed efficient stock trading platforms like Zerodha Kite, Zerodha Pi, Zerodha KITE Mobile, Zerodha open Trade( the social stock trading platform)
- A trustworthy name in the stockbroking industry
- Customer education with the help of Zerodha Varsity
When it is about customer assistance, Zerodha delivers a memorable and consistent experience apart from offering lowest intraday brokerage India. Mostly, the customer queries are answered by the CEO of the label of experts of the field. Opening an account with the brand is easy and quick. Zerodha Support began with contextual ticketing creation and an intelligent search for users with it for general topic users do not have to send any queries for supporting the team. It has the reach liberty of supporting documentation that could resolve a number of issues. The next level solutions for traders and investors who wish to know about their transactions or order details.
For Demat, Zerodha used to have tied up ILFS, but they have an in house Depository Service. A transfer between the Demat account and the trading account is quick and easy. You may trade with Futures & Options, Equity and Currency on BSE, NSE, MCX- SX and MCX and also invest in the mutual fund. Unlike the other discount stockbrokers, Zerodha has its presence in more than 40 cities in India apart from Bangalore where it has its main office.
Now, investment in mutual Fund is possible. They have recently facilitated the traders and investors to invest in the mutual funds with the help of Zerodha Coin. When you trade-in mutual fund through Zerodha, you invest in the direct mutual funds and that too for free. This gives you a much better return as compared to the regular investment.
ProStocks offers the best lowest intraday brokerage and is a relatively recently established discount share broker with quite reasonable offerings throughout different aspects. You might not be able to get high performing trade platforms as already mentioned or a vast range of trading products, but it definitely offers fixed monthly stock brokerage plans.
With this, you may place unlimited no. of trades throughout the entire month without worrying about stock brokerage.
Below are some of the advantages of trading with ProStocks for Intraday Trade:
- Rs. 899 monthly and Rs. 8999 yearly Fixed Price stock brokerage plans
- Free of cost account opening and no charges for maintenance
- Low stamp duty fee
- Easy process of funds transfer
- Exposure of about 7 times on the MIS Orders and up to 10 times on the CO orders
It offers 3 types of easy stock brokerage plans to select from. It has Rs. 15 for each trade plan of flat fee, Rs.899 a month plan for Equity cash and derivative, Rs. 499 a month plan for Currency derivatives, Rs.8999 a year for Equity cash and derivatives segment, Rs.4999 a year plan for Currency derivatives segment.
Opening an account with them is totally hassle-free and quick fully online procedure with no signing, sending the form through post or printing.
The stockbroker offers the referral programme where you may refer your friends, colleagues, fellow traders, etc. for earning 10% of the stock brokerage charged from the referral.
Regarding customer service, the customers don’t have to worry at all. It strives to offer the best possible service to its customers through phone and email during the stock market hours for resolving the account and technical related issues.