In the dynamic world of financial markets, Futures and Options (F&O) trading has gained immense popularity among Indian retail and professional traders alike. With increasing participation, one key factor that traders pay close attention to is brokerage charges. Even a slight reduction in fees can have a significant impact on profitability, especially for high-frequency F&O traders.
This article explores the best low brokerage trading platforms for F&O in India, compares their pricing structures, highlights their features, and helps you choose the right one based on your trading style.
📌 What Is F&O Trading?
Futures and Options (F&O) are derivative contracts that derive their value from underlying assets like stocks, indices, commodities, or currencies.
- Futures: Agreements to buy/sell an asset at a future date at a predetermined price.
- Options: Contracts that give the buyer the right (not obligation) to buy/sell an asset in the future.
F&O trading allows leverage, making it attractive for traders seeking higher returns — but it also involves higher risk.
🧾 Importance of Low Brokerage in F&O Trading
Why It Matters:
- High Frequency Trading: Traders who place multiple trades daily can save thousands monthly.
- Scalping/Intraday strategies: Often depend on low-cost transactions.
- Options Selling: Involves larger contract sizes, increasing costs if brokerage is high.
How Brokerage Impacts Returns:
| No. of Trades/Day | Avg. Lot Size | High Brokerage ₹40 | Low Brokerage ₹20 | Monthly Savings |
|---|---|---|---|---|
| 10 | ₹1,50,000 | ₹400 | ₹200 | ₹4,000+ |
| 25 | ₹1,50,000 | ₹1000 | ₹500 | ₹10,000+ |
🏆 Top Low Brokerage Trading Platforms for F&O in India (2025)
Here’s a curated list of the most cost-effective and reliable brokers offering low-cost F&O trading.
1. Zerodha
- F&O Brokerage: ₹20 per executed order
- Monthly Platform Fee: ₹0
- Exchange Supported: NSE, BSE
- USP: Pioneered discount broking in India
Pros:
- Clean UI via Kite platform
- Strong education via Varsity
- Fast execution
Cons:
- No 24×7 support
- Limited margin funding
2. Upstox
- F&O Brokerage: ₹20 per order or 0.05%, whichever is lower
- Monthly Fee: ₹0
- Exchange: NSE, BSE
Pros:
- Fast-growing platform
- Free API for algo traders
- Partner with Ratan Tata-backed firm
Cons:
- Occasional login lags
3. Angel One
- F&O Brokerage: ₹20 per order (Flat)
- Monthly Fee: ₹0
- Exchange: NSE, BSE
Pros:
- Full-service broker with low charges
- In-depth research
- Offline branches across India
Cons:
- App UI not as sleek
4. Groww
- F&O Brokerage: ₹20 per executed order
- Monthly Fee: ₹0
- Exchange: NSE only
Pros:
- Great for beginners
- Clean UI
- Unified platform for stocks, mutual funds, and F&O
Cons:
- Limited advanced features
- No intraday charts on desktop
5. 5paisa
- F&O Brokerage: ₹20/order (basic plan), ₹10/order (Power Investor plan)
- Monthly Fee: ₹0 (Basic) or ₹499 (Power Investor)
Pros:
- Deep discount model for power users
- Auto investing tools
Cons:
- Charges extra for premium research
6. Fyers
- F&O Brokerage: ₹20 per order
- Monthly Fee: ₹0
- Exchange: NSE
Pros:
- Great charting tools
- Integrated with TradingView
Cons:
- Still evolving as a platform
7. Dhan
- F&O Brokerage: ₹20 per order (Flat)
- Monthly Fee: ₹0
- Exchange: NSE, BSE
Pros:
- Targeted at pro traders
- Built-in features like Trader’s Diary
- Seamless option chain view
Cons:
- Still new, growing user base
📊 Comparison Table: Low Brokerage F&O Platforms (2025)
| Broker | F&O Charges | API Access | Mobile App Rating | Research Reports | Option Chain Tool |
|---|---|---|---|---|---|
| Zerodha | ₹20/order | Yes | 4.4 | No | Yes |
| Upstox | ₹20/order | Yes | 4.2 | Basic | Yes |
| Angel One | ₹20/order | Yes | 4.3 | Yes | Yes |
| Groww | ₹20/order | No | 4.5 | No | Basic |
| 5paisa | ₹10-20/order | Yes | 4.1 | Yes (Premium) | Yes |
| Fyers | ₹20/order | Yes | 4.0 | No | Yes |
| Dhan | ₹20/order | Yes | 4.4 | No | Advanced |
🔎 How to Choose the Right Platform for F&O Trading?
1. Brokerage Costs:
Lower brokerage makes a big difference, especially for active traders.
2. Platform Stability:
Avoid brokers with frequent downtimes. Read reviews and track record.
3. Margin Availability:
Some brokers offer higher exposure on index options/futures.
4. Tools & Features:
Look for option chain analysis, strategy builder, and algo trading support.
5. Customer Support:
Fast grievance redressal is critical during volatile sessions.
🧠 Advanced Tip: Consider API-Based Algo Trading
If you’re an advanced trader using algorithmic strategies, platforms like Zerodha, Upstox, Dhan, and Fyers offer free or low-cost APIs to build automated F&O systems. This helps you scale trades with minimal cost and maximum precision.
🔐 Hidden Charges to Watch Out For
While brokerage might be low, always account for:
| Charge Type | Approx. Cost |
|---|---|
| STT on Sell Side | 0.05% on premium |
| Exchange Transaction | ₹2-5 per lakh |
| SEBI Charges | ₹10 per crore |
| GST | 18% on brokerage + fees |
| Clearing Charges | May apply (₹1-2/order) |
| DP Charges | Not applicable on F&O |
Always check the final contract note for a detailed breakup.
🧭 Which Platform Is Best for You?
| Trader Type | Best Platform(s) | Why |
|---|---|---|
| Beginner | Groww, Angel One | Simple UI, easy onboarding |
| Daily Trader | Zerodha, Upstox, Dhan | Low costs, stable platforms |
| Algo Trader | Zerodha, Dhan, Fyers | API access, fast execution |
| Option Seller | 5paisa, Dhan | Lower charges, margin info tools |
| Research-focused | Angel One, 5paisa | Reports, advisory included |
📝 Final Thoughts
Choosing a low brokerage trading platform for F&O is not just about the cost — it’s about a combination of features, speed, support, and tools. While all the platforms mentioned above offer competitive pricing, the best platform is the one that aligns with your trading style and goals.
Always start with small trades, understand platform limitations, and test customer support responsiveness before scaling up. With the right broker by your side, you can enhance your profitability while minimizing friction.
📌 Frequently Asked Questions (FAQs)
✅ Which is the lowest brokerage platform for F&O in India?
5paisa offers the lowest effective rate with ₹10/order under its Power Investor plan.
✅ Are there any brokers offering zero brokerage in F&O?
Currently, no major broker offers zero brokerage on F&O due to regulatory and clearing costs.
✅ Is F&O trading suitable for beginners?
Only with proper education and risk management. It’s best to start with virtual or small trades.
✅ Can I trade F&O on mobile apps?
Yes, brokers like Zerodha, Dhan, Upstox, and Groww have intuitive mobile apps for F&O trading.