Now that you have decided to start trading in stock, it is important to choose the right broker which fulfills your requirements. The brokerage you pay can make a big difference in the return you make in the long run  and most of the time, it is difficult to change a brokers once you have start trading with them. So do proper research before making your decision. Most of the information is available on the website and before finalizing contact the broker and confirm there brokerage structure because some of the details can change.

Below you will find the latest account opening charges and Brokerage Charges for all the major brokers in India. I have broken the table in two parts, the first one for discount brokers and the other for Full service brokers.

Major Discount Brokers in India

Review by BrokerBroker NameAccount Opening ChargesBrokerageOpen Account
ZerodhaRs 200 for trading account Zero BROKERAGE
Rs 20 per trade for F&O
Buy Mutual fund Online
Exclusive Offer
RKSV Security(Upstox)FreeRs 20 per trade
Exclusive Offer
FyersFree,1% and .01%(max Rs 100)
Trade Smart OnlineRs 400Pay maximum of Rs 15 per trade.

Major Full Service Brokers in India

Review by BrokerBroker NameAccount OpeningYearly MaintainenceBrokerageIntraday
Review of Angel brokingAngel BrokingZeroFree for first year.22% and .02%
Exclusive Offer
BonanzaZero*Rs 250.10% and .01%
ICICI DirectZero*Rs. 600.55% and .05%
AXIS Direct BrokerageRs 999Rs 500.5%.05%
CanmoneyRs 200Rs 200.35%.05%
EdelweissRs 750Rs. 500Higher of 25 or .35%Higher of 25 or .03%
Geojit BNP ParibasNilRs 400.30%.03%
HDFC SecurityRs 999Rs. 450Higher of 25 or .5%Higher of 25 or .05%
IDBI Paisa BuilderRs 700Rs 350.65%.10%
IndiabullsRs 750Rs 450.40%.04%
Motilal OswalZeroRs 450.5%.05%
IIFLRs 750Rs 450.50%.05%
Kotak SecuritiesRs 750Rs 600.30%.05%
Reliance MoneyRs 400Rs 300.40%.04%
ReligareNilRs 500.3%.03%
SBIRs 850Rs 350.5%.075%
SharekhanRs 500Rs 400.5%.075%
SMC IndiaRs 1000Rs 300.30%.03%
VenturaRs 700Rs 400.30%.03%

In case you are interested in investing in commodity markets, read Commodity trading in India and best commodity brokers in India.

In case you are new to investing and not sure of how it works, read How to invest in share market in India.

To read in more details about any of these brokers, read there review.

The points on which I have tried to compare these brokers are

Brokerage
Ease of Use
Software or Net based
Day trading cut off time
Linking to the Bank
IPO /Mutual funds allowed
I will try to make clear these points some more for the newbie investor.
Brokerage: This is one of the most important thing which you should see before becoming a customer of any broker.This is one thing which will decide the amount of profit you are making and in the long run in trading believe me that this will be one of the most important thing.
Ease of use : What is the type of user interface provided.Is some experience required or a novice can work on the same.This should be as simple as possible for the effective use.
Software or Net (Applet) based :If you are one of those people who are doing the trading from the office from behind the firewall this thing becomes very important.Software is something which you have to install on the system and then only you can use it.Net based can be used from any where.
Day trading auto square off time: For some one who is doing day trading this is also one of the important thing to remember because it can be one of the thing which will decide whether you trade is squared off at 2:45 or 3:15.
IPO /Mutual funds allowed :Is the broker providing only equity trading or also providing IPO/Mutual fund through the site.It always good for a retail investor to get all in one platform so it become easy for him to manage. Link to the bank: This will decide when you will get the money in your bank after it is received in your Demat account and which are the bank through which you can link your account.

Some of the most read articles on this website is top 10 stock brokers in India, best trading platform in India, Best Demat account in India, and lowest brokerage charges.

If you are a NRI, read our detailed article on NRI Demat Account for trading.

Want to open account with the Best Discount brokerOpen Account with Zerodha