Options Trading is not just buying and selling options, but timing the trades, managing your funds, and taking care of the fee and charges.
This makes it vital to choose the best platform for Options Trading.
How To Choose The Best Options Trading App?
There are many option trading apps available, so it is important to consider what you need before choosing one.
If you are a beginner, look for an app that is easy to use and has good features. If you are more experienced, you may want an app with more advanced features. Consider what trading features you need, such as the ability to place stop-loss orders or to set up price alerts. Also, check what markets the app covers and whether it offers a mobile trading platform.
It is also very important to notice the brokerage fee charged by the apps. Although the fees seem very low, things are different when your trading volume is high. Hence, make sure to pick the app which does not have sky-high fees and charges.
These were some of the key points that you must remember while choosing your go-to Options trading app.
Let’s have a look at the top twelve Option Trading platforms in India.
Zerodha is by far the best brokerage platform in India. Whether it is the number of active traders, user-friendly interface, price accuracy, or anything, Zerodha is always pretty superior to its competitors. Talking about its Futures & Options(F&O) segment, Zerodha charges a brokerage of either Rs.20 or 0.03% of the trade amount. This is decided on the basis of whichever charge is lower.
If you want to open an account at Zerodha, you will have to pay an account opening charge of Rs.200. The Annual Maintenance Charges(AMC) of Zerodha stand at Rs.300.
- Get Trading View charts with ChartIQ on the platform
- Get a Multi-exit feature on positions
- Instant update on order placement
- Get various search options on holdings, Marketwatch, and many more.
Sensibull is a modern-day trading platform that offers tons of features and recommendations to users. With a brokerage of Rs.20 per executed trade, Sensibull brings a dynamic user interface. However, the base version of the platform does not include options trading.
To practice it, you must buy either the Sensibull lite at Rs.800/month or the Sensibull Pro which is priced at Rs.1300/month.
- Simple and low-risk strategies of options trading for beginners
- Real-time price and profit and loss alerts directly over your Whatsapp
- Many tutorial videos to teach you Options trading
- Get premium features like Put Call Ratio (PCR), Option Greeks, and IndiaVix
Dhan is one of the latest option trading platforms in the country with an active client base of more than 55000. One of the cheapest options trading platforms in the country, Dhan offers free account opening and zero Account Maintenance Charges(AMC).
The brokerage charged for equity options by Dhan is Rs.20 per executed order. The currency options and the commodity options in Dhan are charged at Rs.20 per executed order as well.
- Trade directly through Trading View Charts
- Dedicated app for Futures & Options Trading
- Use reverence orders, draft orders, webhook alerts, and more on the platform
- Get instant margin by pledging your existing shares
UpStox is a low-cost brokerage platform that offers Options trading at affordable charges. Backed by angel investors including Ratan Tata, Kalaari Capital, and GVK Davix, Upstox has been delivering top-notch services to its users.
Upstox charges either a flat Rs.20 or a 0.05% brokerage fee depending on whichever amount is lower during each trade made in the F&O segment. Upstox has also been marketing its platform at another level as it offers free account opening with no AMC. This makes it a favorite for all the newbies and even seasoned traders.
- Zero-brokerage on stock investments
- Get both pre and post-trade analytics, hundreds of charts, 250+ indicators, and intelligent drawing tools along with Trading View & ChartIQ.
- View the Open-High-Close-Low(OHCL) data to make better trading decisions
- Place your order anywhere whether you’re studying the charts, scrip details, or market depth.
Angel Broking is one of the oldest brokerage platforms in the country which started in 1987. Angel broking offers a 4x margin for option selling. The account opening charges and the AMC in Angel Broking are free as of now.
Angel broking charges a brokerage of Rs.20 or 0.25% per executed order whichever is lower. The Security Transaction Charges(STT) of the platform are 0.05% while selling. Also, keep in mind that overtaking the limit of Rs.1 crore while trading in F&O attracts SEBI charges of Rs.15/crore on the platform.
Talking about the features in Angel Broking, you get 70+ technical indicators on the platform along with a month’s of intraday and over 20 years of EOD data. You also get leverage of 3x while shorting Equity Options.
- Get one-click buying and selling of stocks with Angel Broking’s instatrade feature
- Participate in commodity trading and currency trading in the F&O segment.
- Get expert advice and profitable option trading strategies through Angel broking’s partner integration–Sensibull.
- Get both Trading View and ChartIQ to ace your charting skills on the platform.
6. Groww App
One of the most popular apps in the country, Groww offers both equity and F&O trading to its users. It charges a flat fee of Rs.20 per trade in the F&O segment as a brokerage. You can open a Demat account on the platform at zero additional charges. On top of that, there is no AMC on the app.
The STT on the platform for Equity options stands at 0.05% on the sell side. You can also save a lot on the SEBI charges if you have a big portfolio as it charges a mere Rs.10 per crore i.e. 0.0001%.
- Zero account opening and AMC charges
- User-friendly interface
- Instant onboarding with paperless registration
- Easy-to-understand brokerage charges of Rs.20 per executed order
One of the first stock brokers in the country, Sharekhan is trusted by lakhs of Indians. The users can open a trading account in Sharekhan absolutely free right now. Along with that, you will also receive free stock recommendations, tips, and free access to the trading terminal for a year.
The charges for the equity options stand at Rs.50 per lot and Rs.30 per lot for currency options. However, the platform is made in a bit complex design which makes it difficult for the newbies to understand.
- Get timely training, workshops, and recommendations from the experts
- Call & Trade facility is completely free
- You can use your FDs as collateral while doing Options Trading
- Dynamic brokerage structure that offers lower brokerage as your trading amount gets higher
5Paisa is a discount broker operational in India for more than three decades. The parent company of 5Paisa is the well-reputed India Infoline Limited(IIFL). It is the cheapest brokerage platform in the country that charges a flat fee of Rs.10 per executed order without any limits on the lots if you have the premium pack of the platform.
The STT of 5Paisa stands at 0.05% on Sell Side Premium. It also offers research and recommendation to its users and has also waived off the joining fee of Rs.650 as of now.
- Get cutting-edge charts along with various indicators and tools to ace your research game
- One-click order placement so you don’t miss out on any trades
- Set price alerts on your investments and use push notifications
- Get a Robo-investment advisor to help you make the ideal portfolio
Fyers One by Fyers is a Bangalore-based start-up that focuses on Equity and F&O trading. It charges a flat fee of Rs.20 per executed order in the F&O segment.
Fyers is a next-gen trading platform that offers more than 70 indicators, tons of tools for drawing on the charts, historical EOD data of the last two decades, and more than 300+ interactive icons to perform the complete technical analysis of your trades. You also get to use the price ladder feature for your intraday trades. This can be a very useful feature for professional traders.
- Dedicated tools for F&O that help in making quick decisions
- Get EOD reports after market hours
- Portfolio tracker and simulation
- Get advanced charting tools and make trades directly through the charts
10. Pro Stocks
Pro Stocks is a paid unlimited flat discount broker in the country. It offers unlimited trading in Equity with its premium plan of Rs.899. However, you will have to pay Rs.15 per trade in the F&O segment. It also offers a lifetime free AMC Demat account, a feature not available on most of the platforms.
You also get an exclusive API for conducting Algo trading with your account. The account opening charges are Rs.0 for a trading account and a Demat account. The STT for equity option selling on Pro Stocks stands at 0.05% on the premium.
- No account opening charges or AMC charges
- Low brokerage fee of Rs.15 per executed order
- Low call & trade charges of Rs.10 per executed order
- High volume traders get unlimited monthly trading plans
11. Paytm Money
Paytm Money was not among the initial players in this segment and still, it got immensely popular among the occasional and newbie traders. Paytm Money offers options for trading to its users at a brokerage fee of a flat Rs.15. Along with that, you have to pay Rs.300 as an annual platform fee if you are holding a trading account.
The STT on Equity option selling of PayTm Money stands at 0.05% and the SEBI charges are also the same as its competitors at 0.0001%(Rs.10/crore). Paytm Money’s simple user interface and catchy marketing have helped them gain many traders recently.
- Easy and Robust trading platform
- Bracket order & cover order feature is available
- Low trading charges
- Instant paperless account opening
12. Trade Smart
Trade Smart charges Rs.200 trading account opening charges and the same amount for Demat opening. There is also a maintenance charge of Rs.300 per year on Demat accounts. It charges a universal fee of Rs.15 per executed order across all types of securities.
Trade Smart charges Rs.7 per lot while executing orders in equity options, currency options, and commodity options. The STT charges are the same on Trade Smart at 0.005% on the sell side of Equity options.
- No minimum amount balance
- Get margin against your shares
- Cover orders available for the traders
- One of the lowest transaction costs in the industry
If you ask me, I would always prefer Zerodha for Options trading and other related practices. Zerodha is without a doubt one of the most reliable and seamless brokerage apps in the country.
Founded by Nithin Kamath and Nikhil Kamath in 2010, Zerodha offers competitive fees and a user-friendly interface to customers.
It also offers a mobile app and a desktop platform, so you can trade on the go or at home. Along with that, it also offers high-quality research tools, screeners, different buying and selling options, and much more. Hence, it is indeed a great choice for both new and experienced investors.
These were the list of top twelve Options trading platforms in India. Don’t forget to check out these apps based on your preference. This means that you should be knowing whether you want it for frequent trading or occasional trading, as there is a lot of difference between them. Don’t forget to mention your go-to platform for options trading in the comment section below.