Best brokers for intraday trading in India, brokerage, margin, tips (2024)

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Best brokers for intraday trading in India, brokerage, margin, tips (1)

Intraday trading is the most popular trading segment where a trade position is closed on the same trading day. Among hundreds of brokers, which one is the best broker for day trading depends on several factors, such as intraday brokerage, margin or exposure, etc. If you are an intraday trader, we have compiled a list of the top 10 best intraday trading brokers.

What is Intraday Trading?

In intraday trading or day trading, as the name suggests, all open trading positions are closed at the end of the trading session. In other words, a trader does not carry over his trades to the next trading day.

Day trading can be done in all segments, including stocks, equity derivatives, F&O contracts for commodities and currencies. A day trader buys stocks and F&O contracts and sells them before the market closes at 3:30 pm.

Traders place margin intraday square-off orders (MIS) to place an intraday order and the executed order is visible in the positions. Intraday traders book profits from small price movements in stocks.

Day trading is possible in both ways, as intraday traders can buy stocks first and sell later at a higher price, or even place a sell order first and buy later at a lower price.

For example, you are bullish on a company, so you bought 100 shares at 500 rupees. Assuming the price rises to 520 rupees by the end of the day, you can sell the shares and book a profit of 20 rupees per share.

On the other hand, if a stock price is expected to move downward, you can sell the shares first at a price of, say, 500 rupees and then buy them back at a lower price, say, 485 rupees, and book a profit of 15 rupees per share. This is called short selling. A stock is expected to fall due to negative sentiment, excessive selling pressure, or negative news.

If a trader does not close all of his intraday positions by the end of the trading session, your broker will close the positions on your behalf. You will have to pay auto square-off charges for this service.

Characteristics of the best intraday trading brokers

Every stock broker, whether it is a full-service broker or a discount broker, offers intraday trading services to its clients, so the question is which broker is good Check these features to find the best day trading broker;

Low-cost day trading at cheapest flat brokerage model
High margin/exposure on day trading
Free trading platforms with charting and indicators for technical analysis
Intraday trading tips and research
Advanced orders such as stop-loss order, bracket order, cover order, etc.

Here is a curated list of the 10 best brokers for intraday trading.

List of Best Most Popular Intraday Trading Brokers in India

Broker	Intraday Brokerage	Intraday Trading calls	Request Callback
Groww	0.05% or Rs 20 whichever is lower	No	😞😞😞
Zerodha	0.03% or Rs 20 whichever is lower	No	Open Account
Angel One	0.03% or Rs 20 whichever is lower	Yes	Open Account
Upstox	0.05% or Rs 20 whichever is lower	No	Open Account
Paytm Money	0.05% or Rs 20 whichever is lower	No	Open Account
5paisa	Flat Fee Rs 20	Yes	Open Account
Zerodha Trade@20 Want to start your investment journey, join India’s Pioneer Discount Broker – ZERODHA – Free Delivery Trade, Maximum Rs 20 for F&O and Intraday, Free Direct Mutual Fund investment.Open Zerodha Account
Fyers	0.03% or Rs 20 whichever is lower	No	Open Account
Nuvama Wealth	Flat Rs. 10 per executed order	Yes	Open Account
Alice Blue	0.05% or Rs 15 whichever is lower	No	Open Account
ProStocks	Flat Fee Rs 15	No	Open 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 – Final Verdict

ProStocks is the best discount broker for day trading, especially if you are a frequent day trader who places multiple trades every month. Its unlimited monthly trading plan will cost you absolutely no brokerage fees for intraday trades if you pay Rs 899 per month. You can also trade at a flat brokerage plan that charges only Rs 15/order brokerage for intraday trades.

Zerodha can be ranked second due to its maximum brokerage fee of Rs 20 and feature-rich kite platform. However, beginners looking for intraday trading tips can open an account with Angel One. The broker charges a maximum Rs 20 brokerage on day trading and offers day trading tips.

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;

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

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User Reviews

1.Mohit SenFeb 06 2024 06:03:27 PMReply

I would say the best broker for intraday trading is mstock by Mirae Asset which is not mentioned in this list. I have been using mstock for a year now. The best thing here is no brokerage is charged in any segment of trading including Intraday at a nominal fee of Rs 999. This platform is best for daily traders.

2.1.vishalJun 17 2024 02:23:05 PM

why not shoonya? they dont even take fee of 999 for lifetime zero brokerage