Mstock vs Zerodha vs Fyers Demat Charges Compared (2026)

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Last updated: May 2026 · Charges and offers verified against official broker pages where noted.

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Overview
Description
Brand/Store
Availability
User Rating
Account opening & AMC
Account Opening Fee
AMC Upto ₹4 Lakh
AMC ₹4 to ₹10 Lakh
Brokerage Charges & Fees
Brokerage Plan
Commodity Futures charges
Commodity Options charges
Currency Futures charges
Currency Options charges
Equity Delivery Charges
Equity Futures charges
Equity Intraday Charges
Equity Options charges
Pledge Charges
Interest on Margin Trading
Margin Re-Pledge
Pledge Creation Charges
Pledge Invocation Charges
Leverage (Margin) Offered
Equity Delivery Margin
Equity Intraday Margin
Unique Offerings
Brokerage Cashback
Flexible Brokerage Plans
Free Brokerage
Free Equity Delivery
Free Intraday Trading
No Brokerage on Loss Trades
STT & CTT Charges
Currency Futures STT & CTT
Currency Options STT & CTT
Equity Delivery STT & CTT
Equity Futures STT & CTT
Equity Intraday STT & CTT
Equity Options STT & CTT
Transaction Charges
Comm. Futures Trxn. Charges
Comm. Options Trxn. Charges
Curr. Futures Trxn. Charges
Curr. Options Trxn. Charges
Equity Del. Trxn. Charges
Equity Futures Trxn. Charges
Equity Intra. Trxn. Charges
Equity Options Trxn. Charges
Stamp Duty charges
Commodity Futures Stamp Duty
Commodity Options Stamp Duty
Currency Futures Stamp Duty
Currency Options Stamp Duty
Equity Delivery Stamp Duty
Equity Futures Stamp Duty
Equity Intraday Stamp Duty
Equity Options Stamp Duty
Other Charges
Account Closure Charges
Call and Trade charges
Dematerialization Charges
DP Charges
GST charges
Reactivation Charges
SEBI Turnover Charges
Auto Square off Charges
KRA, CKYC, ESign Charges

Mstock Review 2026: Demat Charges, AMC & Brokerage
Mstock demat account review: opening fee ₹0, AMC ₹0 after one-time ₹1,299 + GST lifetime operating-charge activation; otherwise ₹219 + GST/quarter, and brokerage charges updated May 2026. Informational only—not investment advice.
In stock
-
₹0
₹0 after one-time ₹1,299 + GST lifetime operating-charge activation; otherwise ₹219 + GST/quarter
₹0/year
m.Stock ₹5/order + lifetime operating-charge option
No commodity segment
No commodity segment
₹5 per executed order
₹5 per executed order
₹0
₹5 per executed order
₹5 per executed order
₹5 per executed order
MTF from 6.99% p.a.; pledge shares interest 0.0274%/day
Yes
MTF pledge/closure ₹32 per PSN per day + GST; pledge shares creation ₹0, closure ₹32 per PSN/day + GST
MTF closure ₹32 per PSN per day + GST; pledge shares closure ₹32 per PSN/day + GST
1x; 100% upfront delivery margin
Up to 5x
No
Yes
No
Yes
No
No
Nil
Nil
STT 0.10% on buy and sell
STT 0.05% on sell side
STT 0.025% on sell side
STT 0.15% on sell side premium; 0.15% on exercise intrinsic value
No commodity segment
No commodity segment
NSE 0.00035% on turnover
NSE 0.0311% on premium
NSE 0.00307%; BSE 0.00375%
NSE 0.00183% on contract value
NSE 0.00307%; BSE 0.00375%
NSE 0.03553% on premium; BSE 0.0325% on premium
No commodity segment
No commodity segment
0.0001% on buy side
0.0001% on buy side
0.015% or ₹1,500/crore on buy side
0.002% or ₹200/crore on buy side
0.003% or ₹300/crore on buy side
0.003% or ₹300/crore on buy side
₹0
₹0
₹0
₹18 + GST per debit transaction
18% on brokerage, DP, exchange transaction charges, SEBI charges and other taxable service charges
₹0
₹10/crore or 0.0001% of turnover
₹100 per executed order + GST
₹0

Zerodha Review 2026: Demat Charges, AMC & Brokerage
Zerodha demat account review: opening fee ₹0, AMC ₹300 + GST/year for non-BSDA resident accounts (₹75/quarter), and brokerage charges updated May 2026. Informational only—not investment advice.
In stock
-
₹0
₹300 + GST/year for non-BSDA resident accounts (₹75/quarter)
₹100/year (BSDA)
Regular Zerodha online plan
₹20 or 0.03% per executed order, lower
₹20 per executed order
₹20 or 0.03% per executed order, lower
₹20 per executed order
₹0
Lower of ₹20 or 0.03% per executed order
Lower of ₹20 or 0.03% per executed order
₹20 per executed order
14.60% p.a. (0.04%/day)
Yes
₹30 + GST per ISIN standard; ₹15 + GST per ISIN for MTF
₹30 + GST per ISIN standard; ₹15 + GST per ISIN for MTF
1x; 100% upfront delivery margin
Up to 5x
No
No
No
Yes
No
No
Nil
Nil
STT 0.10% on buy and sell
STT 0.05% on sell side
STT 0.025% on sell side
STT 0.15% on sell side premium; 0.15% on exercise intrinsic value
MCX 0.00210%; NCDEX 0.0058%
MCX 0.0418%; NCDEX 0.03%
NSE 0.00035% on turnover
NSE 0.0311% on premium
NSE 0.00307%; BSE 0.00375%
NSE 0.00183% on contract value
NSE 0.00307%; BSE 0.00375%
NSE 0.03553% on premium; BSE 0.0325% on premium
0.002% on buy side
0.003% on buy side premium
0.0001% on buy side
0.0001% on buy side
0.015% or ₹1,500/crore on buy side
0.002% or ₹200/crore on buy side
0.003% or ₹300/crore on buy side
0.003% or ₹300/crore on buy side
₹0
₹50 per order
₹150 per certificate
₹13 + GST per ISIN
18% on brokerage, DP, exchange transaction charges, SEBI charges and other taxable service charges
₹0
₹10/crore or 0.0001% of turnover
₹50 per order
₹0

Fyers Review 2026: Demat Charges, AMC & Brokerage
Fyers demat account review: opening fee ₹0, AMC ₹0 (Free for lifetime), and brokerage charges updated May 2026. Informational only—not investment advice.
In stock
-
₹0
₹0 (Free for lifetime)
₹0/year
Regular FYERS online plan
₹20 or 0.03% per order, lower
₹20 per executed order
₹20 or 0.03% per order, lower
₹20 per executed order
Lower of ₹20 or 0.3%
Lower of ₹20 or 0.03%
Lower of ₹20 or 0.03%
₹20 per executed order
12.49% p.a. onwards
Yes
₹5 + GST creation; ₹0 unpledge
₹0 unpledge; ₹5 + GST creation
1x; 100% upfront delivery margin
Up to 5x
No
No
No
No
No
No
Nil
Nil
STT 0.10% on buy and sell
STT 0.05% on sell side
STT 0.025% on sell side
STT 0.15% on sell side premium; 0.15% on exercise intrinsic value
MCX 0.00210%; NCDEX 0.0058%
MCX 0.0418%; NCDEX 0.03%
NSE 0.00035% on turnover
NSE 0.0311% on premium
NSE 0.00307%; BSE 0.00375%
NSE 0.00183% on contract value
NSE 0.00307%; BSE 0.00375%
NSE 0.03553% on premium; BSE 0.0325% on premium
0.002% on buy side
0.003% on buy side premium
0.0001% on buy side
0.0001% on buy side
0.015% or ₹1,500/crore on buy side
0.002% or ₹200/crore on buy side
0.003% or ₹300/crore on buy side
0.003% or ₹300/crore on buy side
₹0
₹50 per order
₹0
₹12.50 + GST per ISIN
18% on brokerage, DP, exchange transaction charges, SEBI charges and other taxable service charges
₹0
₹10/crore or 0.0001% of turnover
₹50 per order
₹0

By Ajay Bohra · About the author

For Annual Maintenance Charges (AMC): Mstock: ₹0 after one-time ₹1,299 + GST lifetime operating-charge activation; otherwise ₹219 + GST/quarter; Zerodha: ₹300 + GST/year for non-BSDA resident accounts (₹75/quarter); Fyers: ₹0 (Free for lifetime). Informational only; confirm tariffs on each broker's official site before opening an account.

This Mstock vs Zerodha vs Fyers guide compares charges and account terms for Mstock, Zerodha, and Fyers. Figures in the table below match the live comparison widget above. Confirm current tariffs on each broker’s official website before opening an account. More comparisons: broker comparisons hub.

Charges at a glance

Parameter	Mstock	Zerodha	Fyers
Annual Maintenance Charges (AMC)	₹0 after one-time ₹1,299 + GST lifetime operating-charge activation; otherwise ₹219 + GST/quarter	₹300 + GST/year for non-BSDA resident accounts (₹75/quarter)	₹0 (Free for lifetime)
Brokerage Plan	m.Stock ₹5/order + lifetime operating-charge option	Regular Zerodha online plan	Regular FYERS online plan
Equity Delivery Charges	₹0	₹0	Lower of ₹20 or 0.3%
Equity Intraday Charges	₹5 per executed order	Lower of ₹20 or 0.03% per executed order	Lower of ₹20 or 0.03%
Equity Futures charges	₹5 per executed order	Lower of ₹20 or 0.03% per executed order	Lower of ₹20 or 0.03%
Equity Options charges	₹5 per executed order	₹20 per executed order	₹20 per executed order

Key differences

Annual Maintenance Charges (AMC): Mstock — ₹0 after one-time ₹1,299 + GST lifetime operating-charge activation; otherwise ₹219 + GST/quarter; Zerodha — ₹300 + GST/year for non-BSDA resident accounts (₹75/quarter); Fyers — ₹0 (Free for lifetime).
Brokerage Plan: Mstock — m.Stock ₹5/order + lifetime operating-charge option; Zerodha — Regular Zerodha online plan; Fyers — Regular FYERS online plan.
Equity Delivery Charges: Mstock — ₹0; Zerodha — ₹0; Fyers — Lower of ₹20 or 0.3%.
Equity Intraday Charges: Mstock — ₹5 per executed order; Zerodha — Lower of ₹20 or 0.03% per executed order; Fyers — Lower of ₹20 or 0.03%.
Equity Futures charges: Mstock — ₹5 per executed order; Zerodha — Lower of ₹20 or 0.03% per executed order; Fyers — Lower of ₹20 or 0.03%.
Equity Options charges: Mstock — ₹5 per executed order; Zerodha — ₹20 per executed order; Fyers — ₹20 per executed order.

Individual broker reviews

Read our detailed reviews: Mstock demat review, Zerodha demat review, Fyers demat review.

FAQs

What is the Mstock demat account opening fee?

₹0. Confirm on Mstock's official site.

What is the Zerodha demat account opening fee?

₹0. Confirm on Zerodha's official site.

What is the Fyers demat account opening fee?

₹0. Confirm on Fyers's official site.

What is the Mstock demat AMC?

₹0 after one-time ₹1,299 + GST lifetime operating-charge activation; otherwise ₹219 + GST/quarter. Confirm on Mstock's official site.

What is the Zerodha demat AMC?

₹300 + GST/year for non-BSDA resident accounts (₹75/quarter). Confirm on Zerodha's official site.

What is the Fyers demat AMC?

₹0 (Free for lifetime). Confirm on Fyers's official site.

What are Mstock equity delivery brokerage charges?

₹0. Confirm on Mstock's official site.

What are Zerodha equity delivery brokerage charges?