Trading costs may look small at first, but they can add up over time. These costs can also reduce the money you actually keep from your investments.
Choosing a broker with zero account opening fees and no AMC can help. Still, you should compare brokerage, MTF interest and other charges before opening an account.
What are the main costs to check?
Before choosing a broker, look at these three charges.
Account opening charges:
This is the fee charged to open your Demat and trading account. Many discount brokers now offer this service for free.
Annual maintenance charges (AMC):
AMC is a yearly fee for maintaining your Demat account. Some brokers charge a few hundred rupees every year, while others offer zero AMC.
MTF interest:
Margin Trading Facility (MTF) lets you buy stocks by using funds borrowed from your broker. You pay interest on this borrowed amount. So, a lower MTF rate can help reduce your trading cost.
Top brokers with zero AMC
Some of the popular stock broker with no AMC and account opening charges are as follows:
1. Dhan
Dhan offers ₹0 account opening charges and zero AMC. This is a suitable option for active investors with more sophisticated trading requirements.
The platform offers advanced charts, TradingView integration and tools for options trading. It can be useful for traders who want more features.
2. Groww
Groww helps you maintain low fixed costs due to zero account-opening fees and zero AMC fees. Its clean and simple app is also easy for beginners to use.
The platform lets you invest in stocks, mutual funds and ETFs. Groww is a good choice for an investor who plans to invest in the long run.
3. FYERS
FYERS offers zero account opening charges and zero AMC. It is known for its advanced charts and trading tools.
It also provides API trading, making it ideal for traders who use an automated strategy.
4. Angel One
Angel One offers ₹0 account opening charges. However, its AMC may apply after the first year, depending on the account and applicable charges.
It also offers research tools, market insights and a range of trading features.
Compare MTF interest rates
For traders who want to hold stocks beyond the intraday period, MTF can help them buy stocks by paying only part of the total value. The broker funds the remaining amount.
However, this borrowed money comes with interest. A high MTF rate can quickly reduce your trading gains. So, if you use MTF, choosing a broker with lowest MTF interest rates can help keep your overall costs down.
| Broker | Account Opening | AMC | Approx. MTF Rate |
| Kotak Neo | ₹0 | Varies | 9.69% |
| m.Stock | ₹0 | Lifetime free | ~8.99% |
| Dhan | ₹0 | Lifetime free | ~12.49% |
| Groww | ₹0 | Lifetime free | ~14.95% |
| Zerodha | ₹0 | Varies | ~0.04% per day |
| Upstox | ₹0 | Varies | ~Rs.20 per Rs.40K borrowed in standard plan |
Rates can change. Check the broker’s latest charges before opening an account.
Other charges you should know
Zero AMC does not mean zero trading costs.
You may still pay DP charges when selling delivery stocks. Government charges such as STT, GST, stamp duty, and exchange charges also apply.
Brokers may also charge for pledging shares to get trading margin. These charges can vary between platforms.
Which broker should you choose?
Your choice should depend on how you trade.
For long-term investing:
Choose a platform with no AMC and low delivery charges. Groww and Dhan can help keep fixed costs under control.
When trading with MTF:
Always compare MTF interest rates. A lower rate can save you money if you hold the position for weeks.
For intraday and F&O traders:
Trading speed, charts, order execution and platform stability may matter more than AMC.
Final takeaway
A broker with zero AMC can help you cut down on fixed costs. Still, check the other charges before opening an account. Compare the full cost and choose a broker that matches the way you invest or trade.