Before 2010, I used to pay 0.3% of the total traded value for the delivery segments and 0.03% for Intraday segment. I never imagined that there will be a time when one can do unlimited trading for a fixed monthly brokerage plan in 2024
During those time which was dominated by Full service brokers, Zerodha introduced discount broking model to India, charging a flat Rs 20/trade irrespective of traded volume. This saved around 90% of the brokerage of traders.
Related Read : Detailed review of Zerodha and its offerings
Later they made the delivery brokerage charges Zero itself and this helped them to become No.1 stock broker of India leaving behind ICICI Direct and Sharekhan.
But Zerodha do not offer monthly unlimited trading account. They say it is not sustainable as a business and they may go bankrupt risking their customers.
But what are the alternatives?
In this post, I’m going to provide the details of the best stock brokers of India who offer monthly brokerage plans with unlimited trading opportunities.
What is Monthly brokerage plan (Unlimited brokerage plan) ?
Monthly brokerage plans are the brokerage plans offered by stock brokers in which the customers are entitled to trade for unlimited times in that particular month, but the brokerage is always fixed as per the plan.
For example, Tradeplus online broker has Rs99/month for intraday segments. That means, Rs 99 is deducted per month for any number of trades.
This helps is saving lot of brokerage for the traders who trader very frequently.
But is important to note that, the plans are for each segments and so one may need to pay separately for each segment he/she is interested to trade.
Advantages & Disadvantages of Monthly Brokerage Plans
Pros
- No brokerage on every trade
- Savings also in taxes as GST is charged on monthly fee
- Some broker refund if there is no trade
Cons
- Few brokers have hidden charges like software charges
- Usually margin provided is less
- Advanced orders like CO, BO etc are not offered for monthly plans by some brokers
All the brokers who provide monthly charges are same. Some disguise low brokerage charge and there will be lot of hidden charges.
For example, some brokers offer unlimited trading for fixed brokerage monthly plans but they charge extra for the use of trading platform. You need to pay as the subscription charges for using the software.
Some brokers do not offer advanced order types like Cover Order (CO) and Bracket Order (BO) when monthly plans are selected. Please check with the brokers if you are planning to use any of these type of orders.
Stock Brokers Unlimited Trading with Fixed Monthly Brokerage Plans
Unlimited trading for fixed monthly unlimited trading is good for frequent traders. But, there are only very few brokers offering monthly brokerage plans in India.
Here is the list of stock brokers with monthly brokerage plans,
- 1. SAS Online monthly plan
- 2. TradePlus Online monthly plan
- 3. Indiabulls unlimited plan
- 4. Prostocks monthly plan
#1 SAS Online Monthly Plan
SAS Online is Delhi based discount broker offering one of the lowest brokerage charges.
To get more information about SAS Online Brokerage company, read this review.
They offer monthly as well as per order flat brokerage plan.
In flat brokerage plan, Rs 9/trade is levied irrespective of trade volume.
SAS Online Unlimited Trading Monthly Plans:
Monthly unlimited plan of SAS Online is as follows,
- Rs 999/ Month Plan: A fixed price of Rs 999 is charged per month and one can carry out unlimited trades across all NSE Cash, BSE Cash and NSE Derivatives segments
- Rs 499 / Month Plan : This is the unlimited plan for only currency Segment
- Rs 999 MCX Plan: It is for MCX commodity segments and for unlimited trades
#2 TradePlus Online Monthly Plan
TradePlus Online is inline subsidiary of Navia Markets based out of Chennai.
Navia markets is a full service brokerage firm popular in Tamil nadu and are into brokerage business for more than 3 decades.
Through TradePlus, they are offering discount brokerage plans to their customers.
To know more about TradePlusOnline, read this detailed review.
They offer unlimited trading across all segments.
Below are their segment wise monthly unlimited brokerage plans,
#3 Indiabulls Ventures (Shubh) Unlimited Plan
Indiabulls ventures (Shubh) was earlier known as Indiabulls Securities. They are the leading financial service providers with more than 7lakh customers.
To know more about Indiabulls Ventures (Shubh), read this review.
Below are the details of unlimited trading packs of Indiabulls,
- Equity Plan ( Equity Delivery & Intraday) : Rs 1000/month
- F&O Plan ( Equity & Currency F&O) : Rs 1000
#4 Prostocks Monthly Plan
Prostocks entered discount brokerage industry very late. By that time Zerodha and Upstox had already established themselves.
Prostocks claims that their stamp duty charges are lowest in the industry.
To know more about Prostocks, read this review.
Prostocks does not offer service in commodities segment.
Below are the details of monthly and annual unlimited brokerage plans,
- Monthly Plan : Equity Derivatives : Rs899
- Monthly Plan : Currency Derivatives : R 499
- Yearly Plan : Equity Derivatives : Rs 8999
- Yearly Plan : Currency Derivatives : R 4999
Now that we know about stock brokers offering monthly plans & unlimited trading account, let see if you really opt for that.
Is Monthly Brokerage Plans are for me?
I suggest you to check last 3 months trading history and also check the brokerage amount you generated. You are the best person to understand if you are going to continue to trade same way or going to trade less or more.
Monthly unlimited brokerage plans with unlimited trading suit you if,
- You carry out high volume trading manually or through algorithms
- You trade across multiple segments like equities, commodities and currency etc.
- Frequently trade in Penny stocks
Monthly Brokerage Plans – Conclusion
Monthly fixed brokerage plans help in budgeting our monthly trading expenses. With these plans, one can concentrate on trading rather than worrying about brokerage charges.
Earlier, one had to negotiate hard to get the brokerage reduced from say 0.4% to 0.3%. Now it is not the case. One need not worry about brokerage as he/she knows in before hand how much he is going to pay.
But if you ask me, I trade with Zerodha. I know that I can save if I can opt to the stock broker offering monthly brokerage plans. But I prefer to trade with the leader and hence peace of mind.
I don’t mind paying little extra to get superior platforms & good mobile apps and more importantly excellent customer service.
Also, if you trade occasionally then never opt for monthly brokerage plans.