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Which are the Best Intraday Trading Brokers in India for 2024?
Intraday trading, also known as day trading, has gained immense popularity in India over the past few years. With the advent of online trading platforms, more and more traders are participating in the fast-paced world of intraday trading. Choosing the right broker is crucial for success in this high-risk, high-reward arena.
Which are the Best Intraday Trading Brokers in India for 2024?
Know about some of the best intraday trading brokers in India for 2024, which will help you make an informed decision while trying to make the best choice.
1. Zerodha
Zerodha is a name that needs no introduction in the Indian trading community. Known for its low brokerage fees and innovative technology, Zerodha has been a top choice for intraday traders for several years. With a user-friendly trading platform, Kite, and a comprehensive range of tools and resources, Zerodha continues to be a leading player in the Indian brokerage industry.
Brokerage (Equity Intraday): 0.05% or Rs 20 per executed order, whichever is lower.
Key Features:
- Low brokerage fees
- Cutting-edge trading platform (Kite)
- A vast array of educational resources
- High-quality customer support
Open an account with Zerodha.
2. Groww
Groww is a user-centric investment platform that caters to first-time investors, offering easy access to mutual funds and stocks, with an emphasis on simplicity and education.
Brokerage (Equity Intraday): 0.05% or Rs 20 per executed order, whichever is lower.
Key Features:
- User-friendly mobile trading app
- Simple and easy-to-understand platform
- Educational resources for beginners
- Zero account opening and maintenance charges
3. Angel One
Angel Broking is one of the oldest brokerage firms in India and has adapted well to the changing landscape of online trading. It offers a range of intraday trading products and services, along with a user-friendly trading platform and research reports.
Brokerage (Equity Intraday): Rs 20 per executed order.
Key Features:
- Investment advisory services
- User-friendly trading platform
- Research and analysis tools
- Wide network of branches for customer support
Find out – Is Angel One Good for Intraday Trade in 2023?
4. Nuvama (Edelweiss)
Nuvama is the online trading and investment platform of Edelweiss Group, delivering a suite of financial products and services, including equities, derivatives, and mutual funds, with a focus on customer satisfaction and innovation.
Brokerage (Equity Intraday): Rs 10 per executed order.
Key Features:
- Low-cost brokerage for intraday trading;
- Edelweiss’s financial expertise
- NEST trading platform
- Research reports and investment recommendations
5. HDFC Securities
HDFC Securities, a subsidiary of HDFC Bank, provides a comprehensive array of financial products and services, combining the trust of a banking institution with investment opportunities.
Brokerage (Equity Intraday): 0.032%.
Key Features:
- Full-service brokerage with a strong reputation
- Access to research reports and recommendations
- Multiple trading platforms, including ProTerminal
- In-person support through HDFC branches
6. Kotak Securities
Kotak Securities is a part of the Kotak Mahindra Group and offers a diverse portfolio of investment options, including equities, derivatives, and mutual funds, with a focus on customer service.
Brokerage (Equity Intraday): Free.
Key Features:
- Zero brokerage on equity intraday trading
- Advanced trading tools and platforms
- Investment advisory services
- Seamless integration with Kotak Mahindra Bank accounts
7. Motilal Oswal
Motilal Oswal is a prominent full-service brokerage firm, renowned for its research capabilities and a wide range of investment offerings, including wealth management services.
Brokerage (Equity Intraday): Rs 0 (Free for lifetime).
Key Features:
- Free lifetime brokerage for equity intraday
- Comprehensive research and advisory services
- Advanced trading platforms, including MO Investor
- Educational resources and webinars
8. Paytm Money
Paytm Money is a digital investment platform that allows users to invest in mutual funds, stocks, and other financial products through the popular Paytm app, simplifying the investment process.
Brokerage (Equity Intraday): 0.05% or Rs 20 per executed order, whichever is low.
Key Features:
- Integration with the Paytm ecosystem
- User-friendly mobile app
- Educational content and market analysis
- Secure and reliable trading environment
9. SBI Securities
SBI Securities is the online trading arm of the State Bank of India, offering a wide range of investment products and services with the backing of India’s largest public sector bank.
Brokerage (Equity Intraday): 0.05%.
Key Features:
- Backing of the trusted State Bank of India
- Multiple trading platforms
- Research and analysis tools
- Access to IPO and mutual fund investments
10. Sharekhan
Sharekhan is another full-service brokerage firm that offers intraday trading services. They provide a user-friendly trading platform and a range of research and educational resources for traders.
Brokerage (Equity Intraday): 0.10%.
Key Features:
- Intraday trading across asset classes
- User-friendly trading platform
- Research and analysis tools
- Branches across the country for in-person support
11. 5Paisa
5Paisa is a subsidiary of India Infoline (IIFL) and offers a cost-effective trading solution for intraday traders. With a focus on providing a hassle-free trading experience, 5Paisa offers a mobile app that makes it easy for traders to execute trades on the go.
Brokerage (Equity Intraday): Rs 20 per executed order.
Key Features:
- Low brokerage fees
- Mobile trading app
- Research and analysis tools
- Margin trading facility
12. IIFL Securities
IIFL Securities is a part of the IIFL Group, offering a wide range of financial services, including trading and investment advisory, with a strong presence in India’s financial landscape.
Brokerage (Equity Intraday): Rs 20 per order.
Key Features:
- A wide range of trading and investment products
- In-depth research reports
- User-friendly trading platforms
- Pan-India presence for customer support
13. AxisDirect
AxisDirect is the online trading platform of Axis Bank, providing a wide range of investment products and personalized services to cater to investors’ needs regarding intraday trading.
Brokerage (Equity Intraday): 0.05%.
Key Features:
- Axis Bank’s strong financial backing
- Comprehensive trading and investment options
- Axis Direct NEO trading platform
- Personalized advisory services
15. Geojit
Geojit is a full-service brokerage firm with a strong presence in South India, offering investment solutions, research, and advisory services to its clients.
Brokerage (Equity Intraday): 0.03%.
Key Features:
- Decades of experience in the stock market
- A wide range of investment products
- ProStocks trading platform
- Research and advisory services
Also read on – Equity Trading Brokers: Which are the Best in India for 2024?
16. Upstox
Upstox is another popular choice for intraday traders. This discount brokerage firm offers competitive brokerage rates and a feature-rich trading platform. Upstox is known for its high-speed execution and an array of trading tools and indicators.
Brokerage (Equity Intraday): 0.05% or Rs 20 per executed order, whichever is lower.
Key Features:
- Low brokerage fees
- Upstox Pro trading platform
- API integration for algorithmic trading
- Real-time market data
Open an account with Upstox.
Conclusion
Selecting the right intraday trading broker for 2024 depends on your specific trading preferences, risk tolerance, and budget. Each of the aforementioned intraday trading brokers has its unique features and pricing structures. Consider your requirements, trading style, and the services offered by these brokers before making a decision. Also, it is advisable to regularly review your brokerage choices to ensure they align with your evolving trading needs and strategies. Remember that successful intraday trading goes beyond choosing a broker; it also involves careful analysis, risk management, and continuous learning.
