7 Best brokerage firms for Intraday Trading in 2022: Zerodha , Upstox, Angel Broking, SAS Online, 5Paisa

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Best brokerage firms for Intraday Trading

Intraday trading is a trendy segment in our country. Finding a broker that suits our needs and whom we are comfortable with can be challenging. Intraday trading is also called day trading and means selling and buying stocks on the same trading day. Your buy or sell position is closed before the trading day ends and the market closes. If a trader does not close his position by the square-off time of the intraday, their broker will square off their position on their own forcefully. You can do intraday trading in segments like Commodities F&O, Currency F&O, Equity F&O, and Equity. You will be called a Day Trader if you do intraday trading. 

You need to have brokers and look for the following while searching for a broker for intraday trading:

  1. Their trading platform must be excellent.
  2. Reasonable exposure/margin
  3. Brokerage charges must be low.
  4. Order types that they support

Here are 7 best brokerage firms for intraday trading in 2022:

1. Zerodha 

Zerodha is the leading intraday broker in India with the maximum number of customers. Delivery brokerage charges are nil with Zerodha. However, the company is still profitable due to the large number of day traders that trade with them. Zerodha charges Rs. 20/trade and makes massive money daily due to its lakhs of customers. Zerodha has a trading platform called KITE, which is elegant, simple, and minimalistic. 

2. Upstox

Upstox is the second most successful broker in India and is based out of Mumbai. The highly respected and legendary Ratan Tata has backed this brokerage. It is almost on par with Zerodha. Upstox charges 0.5 % or Rs. 20/trade compared to Zerodha's 0.3% or Rs. 20/trade. Upstox has developed its own trading platform, much like Zerodha, and it's called Upstox Pro. You can even download the mobile version from the Play Store. 

3. Angel Broking

Another highly respected brokerage in India, Angel Broking, recently shifted to discount brokerage from full service. They used to charge 0.3% per trade but have changed their model and now charge Rs. 20/trade. The "whichever is lower" condition, like in Zerodha, is missing with Angel Broking. It means you will pay Rs. 20 on Angel Broking instead of Zerodha's Rs. 3. However, Angel Broking's new brokerage plan has been highly appreciated by day traders and has become highly successful in India. 

4. SAS Online

This brokerage probably has the lowest intraday trading charges. If you consider only day trading brokerage, they are the best in our country. However, improvement is required in terms of high transaction charges, platforms, and customer support. They have their own trading platform, which is called Alpha Trader. You can find both desktop and mobile versions of Alpha Trader.

5. TradeSmart Online

VNS Financial Service Limited owns this online discount brand. TradeSmart online has been in the business for over two decades and is a full-service stockbroker. It is famous for its day trading plans. They offer Rs. 15/order or a 0.007% plan. It provides trading platforms for web, mobile, and desktop. 

6. 5Paisa

5Paisa is another contender for the best intraday trading broker spot. India Infoline has its brokerage arm called 5Paisa. Like TradeSmart Online, it has also been in business for over two decades and is a full-service broker. They recently increased their charges from Rs. 10/trade to Rs. 20/trade for intraday trading. It has a trading platform called Trade Station available on the web, desktop, and mobile. 

7. FYERS Securities

FYERS securities is another excellent day trading discount broker based in Bengaluru. They are fairly new as they entered the scene in 2015, and its brokerage charges are the same as Zerodha and Upstox. It has a trading platform called FYERS One. 

Tips For Intraday Trading

  • Fix the exit and entry price
  • Select the right stocks
  • Remember to set a stop-loss price.
  • Book profits upon reaching your target
  • Never challenge the stock market
  • Conduct thorough research of your companies
  • Try and time the market
  • Select the correct platform

Becoming a successful day trader depends on managing your emotions and following strategies, making essential adjustments as you require. You can become a full-time intraday trader if you master your trade game.

Pros of Day Trading

  1. You can make massive profits with small investments
  2. You receive higher margins in day trading from the brokers
  3. You do not have to worry about events that happen aftermarket as the trades will clear on that day itself. 
  4. If you don't square off your trade, your broker will do it for you automatically
  5. Discount stock brokers have made intraday trading very profitable

Cons of Day Trading

  1. It is not for beginners. 
  2. Losses can be massive as it is a high risk-high reward
  3. You require in-depth knowledge and understanding of stocks 
  4. It is a full-time job 
  5. Trades will be automatically squared off. 

We hope we can provide insight and help you make informed decisions. Day trading is not for everyone, and one needs to be well-informed about various things to be successful at day trading. However, you can use any of the aforementioned trading brokers and start your journey or switch and continue it. 

Intraday trading is a trendy segment in our country. Finding a broker that suits our needs and whom we are comfortable with can be challenging. Intraday trading is also called day trading and means selling and buying stocks on the same trading day. Your buy or sell position is closed before the trading day ends and the market closes. If a trader does not close his position by the square-off time of the intraday, their broker will square off their position on their own forcefully. You can do intraday trading in segments like Commodities F&O, Currency F&O, Equity F&O, and Equity. You will be called a Day Trader if you do intraday trading. 

You need to have brokers and look for the following while searching for a broker for intraday trading:

  1. Their trading platform must be excellent.
  2. Reasonable exposure/margin
  3. Brokerage charges must be low.
  4. Order types that they support

Here are 7 best brokerage firms for intraday trading in 2022:

1. Zerodha 

Zerodha is the leading intraday broker in India with the maximum number of customers. Delivery brokerage charges are nil with Zerodha. However, the company is still profitable due to the large number of day traders that trade with them. Zerodha charges Rs. 20/trade and makes massive money daily due to its lakhs of customers. Zerodha has a trading platform called KITE, which is elegant, simple, and minimalistic. 

2. Upstox

Upstox is the second most successful broker in India and is based out of Mumbai. The highly respected and legendary Ratan Tata has backed this brokerage. It is almost on par with Zerodha. Upstox charges 0.5 % or Rs. 20/trade compared to Zerodha's 0.3% or Rs. 20/trade. Upstox has developed its own trading platform, much like Zerodha, and it's called Upstox Pro. You can even download the mobile version from the Play Store. 

3. Angel Broking

Another highly respected brokerage in India, Angel Broking, recently shifted to discount brokerage from full service. They used to charge 0.3% per trade but have changed their model and now charge Rs. 20/trade. The "whichever is lower" condition, like in Zerodha, is missing with Angel Broking. It means you will pay Rs. 20 on Angel Broking instead of Zerodha's Rs. 3. However, Angel Broking's new brokerage plan has been highly appreciated by day traders and has become highly successful in India. 

4. SAS Online

This brokerage probably has the lowest intraday trading charges. If you consider only day trading brokerage, they are the best in our country. However, improvement is required in terms of high transaction charges, platforms, and customer support. They have their own trading platform, which is called Alpha Trader. You can find both desktop and mobile versions of Alpha Trader.

5. TradeSmart Online

VNS Financial Service Limited owns this online discount brand. TradeSmart online has been in the business for over two decades and is a full-service stockbroker. It is famous for its day trading plans. They offer Rs. 15/order or a 0.007% plan. It provides trading platforms for web, mobile, and desktop. 

6. 5Paisa

5Paisa is another contender for the best intraday trading broker spot. India Infoline has its brokerage arm called 5Paisa. Like TradeSmart Online, it has also been in business for over two decades and is a full-service broker. They recently increased their charges from Rs. 10/trade to Rs. 20/trade for intraday trading. It has a trading platform called Trade Station available on the web, desktop, and mobile. 

7. FYERS Securities

FYERS securities is another excellent day trading discount broker based in Bengaluru. They are fairly new as they entered the scene in 2015, and its brokerage charges are the same as Zerodha and Upstox. It has a trading platform called FYERS One. 

Tips For Intraday Trading

  • Fix the exit and entry price
  • Select the right stocks
  • Remember to set a stop-loss price.
  • Book profits upon reaching your target
  • Never challenge the stock market
  • Conduct thorough research of your companies
  • Try and time the market
  • Select the correct platform

Becoming a successful day trader depends on managing your emotions and following strategies, making essential adjustments as you require. You can become a full-time intraday trader if you master your trade game.

Pros of Day Trading

  1. You can make massive profits with small investments
  2. You receive higher margins in day trading from the brokers
  3. You do not have to worry about events that happen aftermarket as the trades will clear on that day itself. 
  4. If you don't square off your trade, your broker will do it for you automatically
  5. Discount stock brokers have made intraday trading very profitable

Cons of Day Trading

  1. It is not for beginners. 
  2. Losses can be massive as it is a high risk-high reward
  3. You require in-depth knowledge and understanding of stocks 
  4. It is a full-time job 
  5. Trades will be automatically squared off. 

We hope we can provide insight and help you make informed decisions. Day trading is not for everyone, and one needs to be well-informed about various things to be successful at day trading. However, you can use any of the aforementioned trading brokers and start your journey or switch and continue it. 

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