{"id":19684,"date":"2026-09-04T13:04:29","date_gmt":"2026-09-04T13:04:29","guid":{"rendered":"https:\/\/navia.co.in\/blog\/?p=19684"},"modified":"2026-09-04T13:04:30","modified_gmt":"2026-09-04T13:04:30","slug":"what-is-zero-brokerage","status":"publish","type":"post","link":"https:\/\/navia.co.in\/blog\/what-is-zero-brokerage\/","title":{"rendered":"Zero Brokerage in India: What It Means, What You Still Pay, and How to Start"},"content":{"rendered":"\n<!-- ============================================================================= -->\n<!-- PASTE THIS WHOLE BLOCK INTO ONE \"Custom HTML\" BLOCK (or the post's Code editor). -->\n<!-- Set the H1 TITLE in the post title field and the FEATURED IMAGE separately.      -->\n<!-- The TOC and FAQ are coded below, so do NOT also add the AIOSEO Table of Contents  -->\n<!-- or an FAQ block (that would duplicate them).                                       -->\n<!-- ============================================================================= -->\n<style>\n\/* Table of Contents *\/\n.navia-toc{background:#F7F8FB;border:1px solid #D5DBEC;border-radius:8px;padding:18px 22px;margin:0 0 28px;}\n.navia-toc .toc-title{font-weight:700;color:#223872;margin:0 0 10px;font-size:18px;}\n.navia-toc ul{margin:0;padding-left:20px;}\n.navia-toc li{margin:6px 0;}\n.navia-toc a{color:#223872;text-decoration:none;}\n.navia-toc a:hover{color:#ED4D37;text-decoration:underline;}\nh2[id]{scroll-margin-top:90px;}\n\/* Quick Answer (orange tone) *\/\n.navia-quick{background:#FEF1EC;border-left:4px solid #ED4D37;border-radius:4px;padding:16px 20px;margin:24px 0;}\n.navia-quick p{margin:0;}\n.navia-quick .qa-label{font-weight:700;color:#223872;}\n\/* FAQ accordion *\/\n.navia-faq{background:#F1F1F3;border-radius:8px;margin:10px 0;overflow:hidden;}\n.navia-faq summary{list-style:none;cursor:pointer;padding:16px 20px;font-weight:600;color:#223872;display:flex;justify-content:space-between;align-items:center;}\n.navia-faq summary::-webkit-details-marker{display:none;}\n.navia-faq summary::after{content:\"\";width:9px;height:9px;border-right:2px solid #223872;border-bottom:2px solid #223872;transform:rotate(45deg);transition:transform .2s;margin-left:12px;flex:none;}\n.navia-faq[open] summary::after{transform:rotate(-135deg);}\n.navia-faq .faq-a{padding:0 20px 16px;color:#333;}\n.navia-faq .faq-a p{margin:0;}\n\/* Key Takeaways *\/\n.navia-takeaways{background:#F7F8FB;border:1px solid #D5DBEC;border-radius:8px;padding:18px 22px 18px 22px;margin:24px 0;}\n.navia-takeaways .kt-title{font-weight:700;color:#223872;margin:0 0 12px;font-size:18px;}\n.navia-takeaways ul{margin:0;padding-left:20px;}\n.navia-takeaways li{margin:8px 0;line-height:1.6;color:#333;}\n\/* Disclaimer (small) *\/\n.navia-disclaimer{font-size:13px;line-height:1.55;color:#444;margin-top:24px;}\n.navia-disclaimer p{margin:0 0 8px;font-size:13px;}\n<\/style>\n\n<!-- ===================== TABLE OF CONTENTS ===================== -->\n<div class=\"navia-toc\">\n  <p class=\"toc-title\">Table of Contents<\/p>\n  <ul>\n    <li><a href=\"#what-does-zero-brokerage-mean\">What does zero brokerage mean?<\/a><\/li>\n    <li><a href=\"#3-models\">Are all zero brokerage brokers the same? The 3 models in India<\/a><\/li>\n    <li><a href=\"#what-you-still-pay\">If brokerage is \u20b90, what do you still pay?<\/a><\/li>\n    <li><a href=\"#worked-example\">A worked example: a \u20b91 lakh trade at a zero brokerage broker<\/a><\/li>\n    <li><a href=\"#how-brokers-make-money\">How do zero brokerage brokers make money?<\/a><\/li>\n    <li><a href=\"#how-to-start\">How do you start trading at zero brokerage?<\/a><\/li>\n    <li><a href=\"#cost-and-risk\">A note on cost and risk<\/a><\/li>\n    <li><a href=\"#conclusion\">Conclusion<\/a><\/li>\n    <li><a href=\"#faqs\">Frequently Asked Questions<\/a><\/li>\n  <\/ul>\n<\/div>\n\n<!-- ===================== INTRO ===================== -->\n<p>Zero brokerage is the first thing most traders search for when picking a broker, but the phrase means different things on different platforms. Some brokers waive brokerage only on delivery. Others charge a subscription for it. And even when brokerage is genuinely \u20b90, the trade itself is not free, because statutory charges still apply. This guide explains what zero brokerage actually means, what it costs in practice, and how to get started.<\/p>\n\n<!-- ===================== QUICK ANSWER (orange) ===================== -->\n<div class=\"navia-quick\">\n  <p><span class=\"qa-label\">\ud83d\udca1 Quick Answer<\/span><br>\n  Zero brokerage means a stockbroker charges \u20b90 commission for executing your buy and sell orders. It does not mean trading is free of all charges. Statutory charges such as STT, exchange transaction charges, GST, SEBI turnover fees and stamp duty still apply at every broker in India, because they are set by the government and regulators. In India, zero brokerage is offered in three forms: zero on delivery only, zero for a subscription or one-time fee, and zero brokerage across all segments. Navia offers \u20b90 brokerage for life on equity delivery, intraday, F&amp;O, commodities, ETFs and IPOs for self-directed trades, as of September 2026.<\/p>\n<\/div>\n\n<!-- ===================== H2: WHAT DOES ZERO BROKERAGE MEAN ===================== -->\n<h2 id=\"what-does-zero-brokerage-mean\" style=\"color:#223872;\">What does zero brokerage mean?<\/h2>\n\n<p>Brokerage is the fee a broker charges per order for executing trades on your behalf. Zero brokerage removes that per-order fee entirely, so a \u20b91 lakh trade and a \u20b910 lakh trade both cost \u20b90 in commission. The model became viable because technology-first discount brokers cut operating costs and recover revenue from other services instead of trade commissions. What zero brokerage does not remove are the statutory charges every Indian broker must collect. Those go to the government, <a href=\"https:\/\/www.sebi.gov.in\" target=\"_blank\" rel=\"noopener\">SEBI<\/a> and the exchanges, not the broker.<\/p>\n\n<!-- ===================== H2: 3 MODELS ===================== -->\n<h2 id=\"3-models\" style=\"color:#223872;\">Are all zero brokerage brokers the same? The 3 models in India<\/h2>\n\n<table style=\"border-collapse:collapse;width:100%;margin:20px 0;\">\n  <thead>\n    <tr>\n      <th style=\"background:#223872;color:#ffffff;padding:10px;border:1px solid #223872;text-align:left;\">Model<\/th>\n      <th style=\"background:#223872;color:#ffffff;padding:10px;border:1px solid #223872;text-align:left;\">How it works<\/th>\n      <th style=\"background:#223872;color:#ffffff;padding:10px;border:1px solid #223872;text-align:left;\">What to check<\/th>\n    <\/tr>\n  <\/thead>\n  <tbody>\n    <tr>\n      <td style=\"padding:10px;border:1px solid #D5DBEC;\"><strong>Zero on delivery only<\/strong><\/td>\n      <td style=\"padding:10px;border:1px solid #D5DBEC;\">\u20b90 on equity delivery; intraday and F&amp;O charged per order (typically up to \u20b920 per order at flat-fee brokers)<\/td>\n      <td style=\"padding:10px;border:1px solid #D5DBEC;\">Your intraday and F&amp;O trades still cost brokerage<\/td>\n    <\/tr>\n    <tr style=\"background:#EDEFF6;\">\n      <td style=\"padding:10px;border:1px solid #D5DBEC;\"><strong>Zero for a fee<\/strong><\/td>\n      <td style=\"padding:10px;border:1px solid #D5DBEC;\">\u20b90 per trade, but after a one-time joining fee or a monthly or annual subscription<\/td>\n      <td style=\"padding:10px;border:1px solid #D5DBEC;\">Total cost = subscription \u00f7 trades placed<\/td>\n    <\/tr>\n    <tr>\n      <td style=\"padding:10px;border:1px solid #D5DBEC;\"><strong>Zero across all segments<\/strong><\/td>\n      <td style=\"padding:10px;border:1px solid #D5DBEC;\">\u20b90 per order on delivery, intraday, F&amp;O and commodities, with no subscription<\/td>\n      <td style=\"padding:10px;border:1px solid #D5DBEC;\">Confirm the duration of the offer, and check AMC and DP charges<\/td>\n    <\/tr>\n  <\/tbody>\n<\/table>\n\n<p>Navia follows the third model: <a href=\"https:\/\/navia.co.in\/pricing\" target=\"_blank\" rel=\"noopener\">\u20b90 brokerage for life on every segment<\/a>, with free account opening and no AMC, for trades you place yourself on the Navia All in One App. When comparing brokers, check which model the zero actually belongs to, because the word is used for all three. For a deeper look at what Navia itself charges, see <a href=\"https:\/\/navia.co.in\/blog\/navia-brokerage-charges\/?utm_source=blog&amp;utm_medium=internal_link&amp;utm_campaign=zero_brokerage_pillar\" target=\"_blank\" rel=\"noopener\">Navia brokerage charges: \u20b90 and what else you pay<\/a>.<\/p>\n\n<!-- ===================== H2: WHAT YOU STILL PAY ===================== -->\n<h2 id=\"what-you-still-pay\" style=\"color:#223872;\">If brokerage is \u20b90, what do you still pay?<\/h2>\n\n<p>Every trade carries government and regulatory charges. These include Securities Transaction Tax (STT), which is usually the largest, exchange transaction charges from <a href=\"https:\/\/www.nseindia.com\" target=\"_blank\" rel=\"noopener\">NSE<\/a>, BSE or MCX, GST at 18% on the fee-based charges, a SEBI turnover fee of \u20b910 per crore, and stamp duty on the buy side. On equity delivery, STT is 0.1% on both buy and sell. On intraday and F&amp;O it applies only on the sell side. There is also a DP charge when you sell shares from demat, which at Navia is 0.03% of value with a minimum of \u20b930 and a maximum of \u20b9300.<\/p>\n\n<p><strong>\u2192 <a href=\"https:\/\/navia.co.in\/pricing?utm_source=blog&amp;utm_medium=cta_text&amp;utm_campaign=zero_brokerage_pillar\" target=\"_blank\" rel=\"noopener\">Check the exact cost of any trade in Navia&#8217;s brokerage calculator<\/a><\/strong><\/p>\n\n<!-- ===================== H2: WORKED EXAMPLE ===================== -->\n<h2 id=\"worked-example\" style=\"color:#223872;\">A worked example: a \u20b91 lakh trade at a zero brokerage broker<\/h2>\n\n<p>Say you buy 100 shares at \u20b91,000 and later sell them at \u20b91,000 at Navia. Brokerage is \u20b90, STT comes to about \u20b9200, stamp duty about \u20b915, exchange charges and GST a few rupees, the SEBI fee a few paise, and a \u20b930 DP charge applies on the sell. The whole trade costs roughly <strong>\u20b9250<\/strong>. At a broker charging \u20b920 per order, the same trade costs about \u20b9290, and for an active trader placing 25 orders a day, brokerage alone can cross \u20b910,000 a month. That saving in brokerage, rather than any change in statutory charges, is what a zero brokerage account gives you. The figures above are approximate and vary with live rates, and the securities and values are illustrative only. For the derivatives version of this math, see <a href=\"https:\/\/navia.co.in\/blog\/zero-brokerage-on-fo-charges-you-still-pay\/?utm_source=blog&amp;utm_medium=internal_link&amp;utm_campaign=zero_brokerage_pillar\" target=\"_blank\" rel=\"noopener\">the 5 charges you still pay on zero brokerage F&amp;O<\/a>.<\/p>\n\n<!-- ===================== CTA BANNER (mid-body, full width) ===================== -->\n<figure style=\"text-align:center;margin:28px 0;\">\n  <a href=\"https:\/\/open.navia.co.in\/index-navia.php?utm_source=Organic&amp;utm_medium=blog&amp;utm_campaign=blog&amp;utm_content=zero_brokerage_pillar_CTA\" target=\"_blank\" rel=\"noopener\" title=\"Open a free account with \u20b90 brokerage\">\n    <img decoding=\"async\" src=\"https:\/\/navia.co.in\/blog\/wp-content\/uploads\/2026\/09\/CTA-Banner.jpeg\" alt=\"Open a free account with zero brokerage on the Navia All in One App\" style=\"max-width:100%;height:auto;border:0;\" \/>\n  <\/a>\n<\/figure>\n\n<!-- ===================== H2: HOW BROKERS MAKE MONEY ===================== -->\n<h2 id=\"how-brokers-make-money\" style=\"color:#223872;\">How do zero brokerage brokers make money?<\/h2>\n\n<p>Legitimately, through disclosed sources other than trade commissions. Navia, for example, earns revenue through interest on Margin Trade Funding (MTF), interest on client float, dedicated relationship manager (RM) services, and technology and API partnerships. This is what lets Navia offer lifetime zero brokerage to self-directed clients, while RM-serviced clients pay applicable brokerage as per their plan. A SEBI-registered broker is required to publish its complete tariff, so the published charge list is the reliable place to compare brokers, rather than the headline claim. Navia&#8217;s tariff is on its <a href=\"https:\/\/navia.co.in\/pricing\" target=\"_blank\" rel=\"noopener\">pricing page<\/a>. The <a href=\"https:\/\/navia.co.in\/blog\/advantages-of-zero-brokerage-trading-account\/?utm_source=blog&amp;utm_medium=internal_link&amp;utm_campaign=zero_brokerage_pillar\" target=\"_blank\" rel=\"noopener\">advantages of a zero brokerage trading account<\/a> hold when the pricing is fully transparent.<\/p>\n\n<!-- ===================== H2: HOW TO START ===================== -->\n<h2 id=\"how-to-start\" style=\"color:#223872;\">How do you start trading at zero brokerage?<\/h2>\n\n<p>Open a free demat and trading account on the <a href=\"https:\/\/navia.co.in\/?utm_source=blog&amp;utm_medium=cta_text&amp;utm_campaign=zero_brokerage_pillar\" target=\"_blank\" rel=\"noopener\">Navia All in One App<\/a>. Provide your PAN, bank details and Aadhaar-linked mobile number, then e-Sign with an Aadhaar OTP. KRA-compliant accounts are typically activated within 24 hours. There is no account-opening charge and no AMC, for life. You can also explore the app in Guest Mode before opening an account.<\/p>\n\n<!-- ===================== H2: COST AND RISK ===================== -->\n<h2 id=\"cost-and-risk\" style=\"color:#223872;\">A note on cost and risk<\/h2>\n\n<p>Zero brokerage lowers your cost of trading. It does not lower market risk. Prices can move against you regardless of what a trade costs to place, so size your positions sensibly and read all scheme and risk documents before investing.<\/p>\n\n<!-- ===================== H2: CONCLUSION ===================== -->\n<h2 id=\"conclusion\" style=\"color:#223872;\">Conclusion<\/h2>\n\n<p>Zero brokerage means the broker&#8217;s commission is \u20b90. Your real cost is the statutory charges, which are identical at every broker, and STT is usually the largest of them. The model matters too: check whether the \u20b90 covers all segments, for how long, and whether a subscription applies. Navia offers \u20b90 brokerage for life across every segment, with no AMC and no account-opening fee, for self-directed trades. <a href=\"https:\/\/navia.co.in\/?utm_source=blog&amp;utm_medium=cta_button&amp;utm_campaign=zero_brokerage_pillar\" target=\"_blank\" rel=\"noopener\">Open your free account on the Navia All in One App<\/a>. Navia Markets is registered with SEBI (Reg. No. INZ000095034).<\/p>\n\n<!-- ===================== KEY TAKEAWAYS ===================== -->\n<div class=\"navia-takeaways\">\n  <p class=\"kt-title\">Key Takeaways<\/p>\n  <ul>\n    <li>Zero brokerage means the broker charges <strong>\u20b90 commission<\/strong> for executing your trades. Statutory charges set by the government and regulators still apply at every broker.<\/li>\n    <li>In India, zero brokerage comes in <strong>three models<\/strong>: zero on delivery only, zero for a subscription or fee, and zero across all segments with no subscription. Check which one applies before you compare.<\/li>\n    <li><strong>STT is usually the largest charge<\/strong> on any trade. On equity delivery it is 0.1% on both buy and sell; on intraday and F&amp;O it applies only on the sell side.<\/li>\n    <li>On a <strong>\u20b91,00,000 equity delivery trade<\/strong> bought and sold at Navia, the total cost is roughly \u20b9250, none of it brokerage.<\/li>\n    <li>Navia offers <strong>\u20b90 brokerage for life<\/strong> on equity delivery, intraday, F&amp;O, commodities, ETFs and IPOs, with 0% commission on direct mutual funds, free account opening and no AMC, for self-directed trades.<\/li>\n  <\/ul>\n<\/div>\n\n<!-- ===================== FEEDBACK (YES \/ NO -> TYPEFORM), ~320px ===================== -->\n<p style=\"text-align:center;margin-top:32px;\"><strong>DID YOU FIND THIS INTERESTING?<\/strong><\/p>\n<p style=\"text-align:center;\"><strong>We&#8217;d love to hear from you \u2013<\/strong><\/p>\n<div style=\"text-align:center;margin:12px 0 28px;\">\n  <a href=\"https:\/\/form.typeform.com\/to\/bpQ8ZlDc?typeform-source=navia.co.in\" target=\"_blank\" rel=\"noopener\" style=\"display:inline-block !important;width:320px !important;max-width:100% !important;\">\n    <img decoding=\"async\" src=\"https:\/\/navia.co.in\/blog\/wp-content\/uploads\/2025\/01\/Yes-No-Button.png\" alt=\"yes or no feedback form\" style=\"display:block !important;width:100% !important;max-width:320px !important;height:auto !important;border:0;\" \/>\n  <\/a>\n<\/div>\n\n<!-- ===================== FAQ (accordion) ===================== -->\n<h2 id=\"faqs\" style=\"color:#223872;\">Frequently Asked Questions<\/h2>\n\n<details class=\"navia-faq\">\n  <summary>What is zero brokerage in the stock market?<\/summary>\n  <div class=\"faq-a\"><p>Zero brokerage means the broker charges \u20b90 commission for executing buy and sell orders. Statutory charges such as STT, exchange transaction charges, GST, SEBI fees and stamp duty still apply, as they do at every broker in India.<\/p><\/div>\n<\/details>\n\n<details class=\"navia-faq\">\n  <summary>Is zero brokerage trading really free?<\/summary>\n  <div class=\"faq-a\"><p>The broker&#8217;s fee is \u20b90, but government and regulatory charges still apply on every trade. On a \u20b91 lakh delivery buy and sell at Navia, these total roughly \u20b9250, with STT the largest component.<\/p><\/div>\n<\/details>\n\n<details class=\"navia-faq\">\n  <summary>Which broker offers zero brokerage on all segments?<\/summary>\n  <div class=\"faq-a\"><p>As of September 2026, Navia charges \u20b90 brokerage for life on equity delivery, intraday, F&amp;O, commodities, ETFs and IPOs for self-directed trades, with free account opening and no AMC. Some brokers offer zero brokerage only on delivery or only with a subscription, so check each published tariff.<\/p><\/div>\n<\/details>\n\n<details class=\"navia-faq\">\n  <summary>How do zero brokerage brokers earn money?<\/summary>\n  <div class=\"faq-a\"><p>Through disclosed sources other than commissions, such as interest on margin trade funding and client float, RM-serviced plans, and technology partnerships. SEBI-registered brokers must display their full tariff publicly.<\/p><\/div>\n<\/details>\n\n<details class=\"navia-faq\">\n  <summary>Is a zero brokerage demat account safe?<\/summary>\n  <div class=\"faq-a\"><p>Yes, if the broker is SEBI-registered and a depository participant with NSDL or CDSL. Zero brokerage describes pricing, not safety, so always verify the SEBI registration number. Navia&#8217;s is INZ000095034.<\/p><\/div>\n<\/details>\n\n<details class=\"navia-faq\">\n  <summary>Does zero brokerage apply to F&amp;O trading?<\/summary>\n  <div class=\"faq-a\"><p>At Navia, yes. Futures and options carry \u20b90 brokerage for life on eligible self-directed trades. Statutory charges still apply, and on F&amp;O, STT is charged on the sell side.<\/p><\/div>\n<\/details>\n\n<!-- ===================== DISCLAIMER (small font) ===================== -->\n<div class=\"navia-disclaimer\">\n  <p><strong>DISCLAIMER:<\/strong> Brokerage will not exceed the SEBI prescribed limit. Investments in securities market are subject to market risks, read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Full disclaimer: <a href=\"https:\/\/bit.ly\/naviadisclaimer\" target=\"_blank\" rel=\"noopener\">https:\/\/bit.ly\/naviadisclaimer<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Table of Contents What does zero brokerage mean? Are all zero brokerage brokers the same? The 3 models in India If brokerage is \u20b90, what do you still pay? A worked example: a \u20b91 lakh trade at a zero brokerage broker How do zero brokerage brokers make money? How do you start trading at zero [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19686,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ub_ctt_via":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[981],"tags":[1264,912,1177,1265,133],"class_list":["post-19684","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-zero-brokerage","tag-brokerage-charges","tag-demat-account","tag-stt","tag-trading-costs","tag-zero-brokerage"],"aioseo_notices":[],"featured_image_src":"https:\/\/navia.co.in\/blog\/wp-content\/uploads\/2026\/09\/feature-image.jpeg","author_info":{"display_name":"Navia Markets","author_link":"https:\/\/navia.co.in\/blog\/author\/tradeplusonline\/"},"jetpack_featured_media_url":"https:\/\/navia.co.in\/blog\/wp-content\/uploads\/2026\/09\/feature-image.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/posts\/19684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/comments?post=19684"}],"version-history":[{"count":2,"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/posts\/19684\/revisions"}],"predecessor-version":[{"id":19687,"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/posts\/19684\/revisions\/19687"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/media\/19686"}],"wp:attachment":[{"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/media?parent=19684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/categories?post=19684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/navia.co.in\/blog\/wp-json\/wp\/v2\/tags?post=19684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}