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10 Best Commodity Trading Brokers in India
Which are the Best Commodity Trading Brokers in India?
Commodity trading has gained immense popularity in India, offering investors a unique opportunity to diversify their portfolios and protect against inflation. In 2023, several commodity trading brokers are there to choose from, each with its own set of features and pricing structures.
Open an account with Zerodha.
10 Best Commodity Trading Brokers in India
Know about the top 10 best commodity trading brokers in India that have become popular choices for traders today.
1. Zerodha
If you are looking to start online trading in commodities with minimal brokerage costs, Zerodha stands out as the top choice. India’s largest discount brokerage firm charges a flat fee of Rs. 20 for MCX futures & options trading, regardless of the trade value.
Its Kite platform offers a superfast, multi-lingual, and intuitive user interface, available on both web and mobile app versions. To begin commodity trading with Zerodha, clients need to pay a Rs. 200 account opening fee.
Go through Zerodha Commodity Trading Review – Charges, Market Timing and More.
2. Angel One
Angel One offers competitive pricing with a brokerage rate of 0.25% or Rs. 20 (whichever is lower) for commodity trading.
Its commodity trading brokerage rates for non-agri and agri commodities are Rs. 260 Per Cr and Rs. 175 Per Cr, respectively. It also provides commodity research services to their users.
Angel One stands out as a prominent commodity trading broker in India. With a vast clientele of over 3.8 million active clients, it has earned a reputation for reliability and customer trust. Its commitment to providing cost-effective services, along with a user-friendly trading platform, positions it as one of the top choices for those looking to venture into the world of commodities.
Open an account with Angel One.
3. 5paisa
5paisa charges a flat fee of Rs. 20 for commodity trading. The transaction charges are Rs. 260 Per Cr. This broker provides a user-friendly platform for commodity trading.
The broker is known for its affordable and straightforward trading services. With a substantial client base of 263,951 active traders, it is a cost-effective choice for investors.
Additionally, 5paisa provides commodity trading broker account opening with charges of ₹300 + GST. Its user-friendly trading platform and competitive pricing make it a viable option for those looking to venture into commodity trading.
4. Fyers
It is one of the notable commodity trading brokers in India, making its mark in the industry. With over 205,000 active clients, Fyers offers a competitive edge with flat Rs. 20 per executed order as brokerage charges and no account opening fees.
This cost-effective approach attracts traders looking to minimize expenses in their commodity investments. Fyers is known for providing a user-friendly commodity trading broker platform and has gained popularity for its transparency and ease of use, making it a viable choice for those entering the world of commodity trading.
5. Alice Blue
Alice Blue also offers a flat fee structure with Rs. 15 for commodity trading. Its transaction charges align with the industry standards at Rs. 360 Per Cr for non-agri and Rs. 275 Per Cr for agri commodities.
With a substantial client base and a transparent fee structure, it offers traders a cost-effective option for engaging in commodity trading. Alice Blue’s flat brokerage charges per executed order make it an attractive choice for those looking to minimize trading costs.
The user-friendly commodity trading broker platform adds to its appeal, ensuring a seamless trading experience for investors in the commodity market. Additionally, Alice Blue provides free account opening, making it accessible to traders of various levels of experience.
6. Sharekhan
Sharekhan charges 0.1% or 10 paisa as brokerage, depending on the trade value. Its transaction charges for non-agri and agri commodities are Rs. 260 Per Cr and Rs. 175 Per Cr, respectively. Sharekhan is known for its versatility.
While it is more widely recognized for its expertise in stock trading and investment, Sharekhan has expanded its offerings to cater to commodity traders as well. It provides access to MCX and NCDEX, the major commodity exchanges in India.
Sharekhan is known for its user-friendly commodity trading broker platform and a strong research team, which can be advantageous for commodity traders seeking market insights. While not the cheapest option in terms of brokerage charges, Sharekhan’s reputation for reliability and customer support makes it a viable choice for those looking to venture into commodity trading in India.
7. Market Wolf
Market Wolf offers a unique approach to commodity trading. It stands out by providing zero brokerage if you incur losses, but charges 10% of the Gross Profit (GP) on profitable commodity trades. This risk-sharing model can be appealing to commodity traders.
The innovative approach of the commodity trading broker can be appealing to traders looking to manage costs effectively. With a substantial client base and free account opening, Market Wolf has established itself as a competitive player in the Indian commodity trading landscape, catering to both experienced and novice traders.
8. IIFL
IIFL, serving 378,000 clients, is known for its reliability in commodity trading. It offers a brokerage charge of 0.025%, making it a cost-effective option for those interested in commodities. Account opening with IIFL is free.
What sets it apart is its commitment to providing a user-friendly trading experience with no account opening charges. Its platform and services make commodity trading accessible to both beginners and experienced traders, making it a noteworthy choice in the Indian commodity market.
9. Kotak Securities
With a substantial client base of 278,681 active clients, Kotak Securities has established itself as a reliable choice for traders. The commodity trading broker is reputed for its competitive pricing, charging Rs. 20 per order for commodities and providing free account opening.
Its offerings include both futures and options trading on MCX and NCDEX. Additionally, it offers intraday trading for free, which makes it an attractive option for traders looking to enter the commodity market. With a robust trading platform and a range of customer service options, Kotak Securities is a notable player in the Indian commodity trading landscape.
10. Upstox
Upstox, like Zerodha, offers a flat fee of Rs. 20 for commodity trading. Its transaction charges for non-agri and agri commodities are Rs. 360 Per Cr and Rs. 275 Per Cr, respectively. Its platform is designed for efficiency.
One of the prominent names in the Indian commodity trading landscape, Upstox offers traders a robust platform to engage in commodity trading. It provides an accessible entry point for commodity investors. Additionally, its commitment to keeping account opening charges free makes it an attractive choice for those looking to venture into the world of commodity trading without excessive initial costs.
Open an account with Upstox.
Go through our Upstox Review 2023.
Which are the Best Commodity Trading Brokers in India?
Zerodha tops the list with its Rs. 20 flat brokerage fee and user-friendly Kite platform. Angel One is another strong contender, offering discounted full-service commodity trading brokerage and commodity research.
For beginners entering the commodity trading market, full-service commodity trading brokerage firms like ICICI Direct, Kotak Securities, and Sharekhan are recommended. These commodity trading brokers offer valuable commodity research services to customers. ICICI Direct, in particular, stands out with its fixed brokerage plan at a flat fee of Rs. 20 per order for commodity trading. As a newbie, consider opening a commodity trading account with a top full-service commodity broker to access research and guidance.
Conclusion
India’s commodity trading landscape offers a variety of options, catering to both cost-conscious traders and those seeking comprehensive research and support. Before diving into commodity trading, it is advisable to familiarize yourself with the basics of the commodity market, including commodity futures and options, and the trading process. Choose a commodity trading broker that aligns with your trading style and preferences, so as to embark on your trading journey with full assurance.
