Brokers for options trading in India
SEBI-registered brokers that offer Nifty, Bank Nifty and Sensex options, compared on their published charges. No forex or CFD platforms: those are not allowed for Indian residents.
| Broker | Options brokerage | Equity delivery | Account opening | Demat AMC | Options tools |
|---|---|---|---|---|---|
| Zerodha | ₹20 per order | ₹0 | ₹0 | Free in year 1; then ₹0–₹300 + GST a year depending on holdings (BSDA) | Option chain; Sensibull integration |
| Groww | ₹20 per order | ₹20 or 0.1%, whichever is lower (min ₹5) | ₹0 | ₹0 | Option chain with payoff view and baskets |
| Angel One | ₹20 per order (free up to ₹500 in the first 30 days) | ₹20 or 0.1%, whichever is lower (min ₹5) | ₹0 | Free in year 1; then ₹60 + GST a quarter (BSDA under ₹4 lakh free) | Option chain |
| Upstox | ₹20 per order | ₹20 per order | ₹0 | Free in year 1; then ₹300 + GST a year | Option chain |
| Dhan | ₹20 per order (also on expired, exercised or assigned contracts) | ₹0 | ₹0 | ₹0 | Option chain and trader-focused tools |
| Kotak Neo | ₹10 per order (carry-forward) | ₹0 for 30 days, then 0.20% (Trade Free plan) | ₹0 (Trade Free plan) | ₹0 for BSDA accounts (conditions apply) | Option chain |
| 5paisa | ₹20 per order | ₹20 per order | ₹0 | ₹25 + GST a month (conditions apply) | Option chain |
Published rates for each broker's default plan, checked Mon, 2 Nov, 2026. Statutory charges (STT, exchange fees, SEBI fee, stamp duty, GST) come on top and are the same everywhere. Confirm current rates on the broker's pricing page before opening an account.
Zerodha
The discount broker most active traders started with; Kite platform and free Varsity lessons.
- Options
- ₹20 per order
- Platforms
- Kite (web and app)
- NSE active clients
- 67.9 lakh (NSE, Sep 2026)
Good for
- Fast, stable Kite platform
- Free delivery trades
- Large free learning library (Varsity)
Watch out for
- Some analytics tools are third-party add-ons
- AMC after the first year for larger holdings
Groww
India's largest broker by active clients; a simple app built for first-time investors.
- Options
- ₹20 per order
- Platforms
- Groww app, Groww Terminal
- NSE active clients
- 1.34 crore (NSE, Sep 2026)
Good for
- No account or AMC charges
- Very simple app
- Payoff view on the option chain
Watch out for
- Delivery trades are not free
- Fewer advanced tools for option sellers
Angel One
Full-service heritage, discount pricing; strong reach beyond the big cities.
- Options
- ₹20 per order (free up to ₹500 in the first 30 days)
- Platforms
- Angel One app and web
- NSE active clients
- 67.6 lakh (NSE, Sep 2026)
Good for
- Introductory free-brokerage period
- Wide branch and partner network
Watch out for
- Quarterly AMC after the first year
- Delivery trades are not free
Upstox
Discount broker with a clean app and a pro trading terminal.
- Options
- ₹20 per order
- Platforms
- Upstox app and Upstox Pro
- NSE active clients
- 18.5 lakh (NSE, Sep 2026)
Good for
- Simple flat pricing
- Pro terminal for active traders
Watch out for
- Delivery trades cost ₹20 each
- AMC after the first year
Dhan
Built around active F&O traders, with trading tools in the app.
- Options
- ₹20 per order (also on expired, exercised or assigned contracts)
- Platforms
- Dhan app and web
- NSE active clients
- 11.2 lakh (NSE, Sep 2026)
Good for
- No AMC and free delivery
- Tools aimed at F&O traders
Watch out for
- ₹20 also charged on expiry, exercise or assignment
Kotak Neo
Bank-backed broker with the lowest flat F&O brokerage of this list.
- Options
- ₹10 per order (carry-forward)
- Platforms
- Kotak Neo app and web
Good for
- ₹10 per F&O order
- Linked to a large bank
Watch out for
- Percentage-based delivery brokerage after 30 days
- Plan conditions to read carefully
5paisa
One of the early discount brokers, with flat ₹20 pricing across segments.
- Options
- ₹20 per order
- Platforms
- 5paisa app and web
Good for
- Flat pricing across segments
- Zero brokerage in the first 30 days
Watch out for
- Monthly AMC adds up over a year
- Delivery trades cost ₹20 each