Best Commodity Trading Broker – List of Top 10 Commodity Brokers in India
Here are the List of Best Commodity Trading Broker in India.
When it comes to commodity trading, people are very doubtful, and not many have complete knowledge about how to start trading in the commodity market.
The first step in beginning commodity trading is to create an account with a registered broker.
This broker should fulfil the following criteria:
- Must be affiliated with a stock exchange. To ensure this, you can check the broker’s website and find the registration number.
- Brokerage charges should not be very high. The days of exuberant fees for brokerage are gone. Now is the era of discount brokers who charge as low as INR 20 per trade. You can find the details of the brokerage charged on the website. This has to be an essential consideration while selecting your desired broker because you do not want to end up eroding all your capital in brokerage and taxes.
- Must have a good number of satisfied customers. It will help if you read the reviews and ratings given by customers to the broker. You can even ask your peers who use the platform for genuine feedback.
- Customer support facilities should be available. Technical glitches happen all the time, so you need your broker to help you when your transactions get stuck.
List of Best Commodity Trading Brokers in India
Based on the above criteria, we have found the ten best commodity trading broker in India:
Open a Commodity Demat & Trading Account Now! – Fill up the Form
Know about Top 10 Commodity Trading Brokers in India
Here, you will get to know in detail about Best Commodity Brokers in detail.
Angel Broking: Best Commodity Broker in India
Angel broking is another popular name that comes to the mind when we think about brokers in India. They are a full-service brokerage firm that has been in business since 1987.
Angel broking is now one of India’s largest brokerage firms, with offices in more than 500 cities and a network of 8500 sub-brokers. The user base is vast.
Their platform can handle large volumes of transactions every day without showing any significant glitches and errors. The customers are happy with their easy to use UI. Angel broking earlier used the percentage basis system for brokerage.
Still, due to stiff competition from other firms, it also introduced a similar plan as Zerodha with INR 20 as flat brokerage charges in all segments.
The account opening process is seamless, and the charges are too meager. During offers, you can even get a free Demat account opened on Angel Broking.
So, this is undoubtedly one of the best platforms to start your commodity trading journey!
Zerodha: Top Commodity Brokers in India
Zerodha introduced the concept of discount brokerage in India. Be it the user interface or the availability of their customer support; everything is correctly managed.
The main attractive feature which drew customers from all private brokerage firms to Zerodha was the brokerage. Zerodha charges 0.03% or INR 20, whichever is lower as brokerage per trade.
They also have their learning platform known as “Zerodha varsity.” One can learn everything they want to about commodity trading or any other thing in the market for free through this platform.
The trading platform of Zerodha is called KITE. Zerodha is ideal for frequent traders as it helps save fortunes by charging minimum brokerage.
The UI for both website and mobile application is immensely user-friendly, and all options are presented in a decluttered form.
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Sharekhan: Best Commodity Trading Brokers in India
Sharekhan is one of the oldest and most popular commodity trading brokers in India. Apart from being a brokerage firm, they also offer portfolio management services to the clients.
The biggest con of sharekhan is the high brokerage it charges. For beginner traders, who do not have much capital to start with, they should prefer discount brokers only.
Sharekhan is well known among its users as a customer-friendly brand, as they do every possible thing to make their users’ experience worthy.
They provide regular hand-holding solutions in emails, text messages, and regular updates to the users. Creating an account on sharekhan is not a difficult task!
Upstox: Top 10 Commodity Trading Brokers
Backed by Ratan Tata, upstox is one of the most popular trading platforms in India. This Mumbai based stock brokerage firm was the first to open more than 1 lakh accounts in 1 month.
The account opening charges are minimal, and their UI is similar to Zerodha’s Kite. They recently introduced Upstox Pro to enhance the user experience.
They also offer a flat brokerage charge plan where the charges are INR 20 per trade. To attract more customers, they also provide promotional services like zero brokerage for one month.
This is done mainly to lure beginner traders into opening accounts on their platform. For commodity trading, the users can only trade on the MCX exchange.
Upstox also offers excellent customer support services.
ICICI Direct: One of the Best Commodity Brokers in India
With an aim to provide a seamless and secure trading experience to its users, ICICI direct has done everything to ensure that their clients enjoy a premium experience.
Their ICICI Securities ATS helps the traders with researched tips from expert analysts. Whereas, their ICICI direct institute helps the commodity traders and investors to learn all they want.
So, in a nutshell, they not only ensure a hassle-free trading experience through their power-packed web and app platform but also provide a regular helping hand to their users.
They even have dedicated relationship managers to ensure that their clients do not face any issues.
However, the point to be noted here is that they expect to be compensated equally if they are providing such quality services. Hence, the brokerage and maintenance charges are very high here.
For those commodity traders who think they value experience over cost, then they can surely try ICICI direct.
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HDFC Securities: India’s Top Commodity Trading Brokers
If you are an advanced trader looking for a platform that solves all your needs in one place, then the HDFC securities trading app can be your solution.
The company offers high-end services and the ability to invest in all kinds of instruments within the country and even abroad.
They also provide the option to place trades using customer service executives. The users can access the HDFC securities account using android, ios, or web platform.
All are designed to ensure an easy to use experience. HDFC securities have been a trusted name for a long time and ensure that its reputation does not get tainted in any manner.
They keep on upgrading themselves with the demands of the industry. If you are an HDFC securities customer, you will always feel privileged.
Motilal Oswal: Best Commodity Brokers in India
With 100000+ happy customers, Motilal Oswal is one of the most well known financial service company in India.
From providing customized investment products to ensuring high-quality customer services, the company surely knows how to make its customers feel premium.
They give as much value as the price offered by the customers. Motilal Oswal is highly recommended for experienced traders and seasoned investors who do this full-time and do not want any hassles in their trading experience.
For commodity traders, they provide some exquisite features both on their web as well as an app platform. 100% paperless trading with expert reviews is what makes them one of the best in the industry.
IIFL: Top 10 Commodity Trading Brokers in India
IIFL securities has become one of the best brokers in the stock market lately. Established in the year 1995, the company is now managed by CEO Nirmal Jain.
In terms of brokerage, the company charges a relatively low brokerage, which is something loved by all the traders.
The company offers three types of accounts that are Investor Plan, Premium Plan, and Super trader plan.
If you are a member of the investor plan, you end up paying a brokerage of 0.025%, while for the premium and super trader plan, it is 0.05% and 0.015%, respectively.
Mastertrust – Top Commodity Brokers in India
By charging a minimalistic brokerage of just 0.07%, Master trust has been able to grab a fair market share. It is one of the popular platforms used by commodity traders.
They are backed by a strong research team that shares their regular analysis and recommendations for commodity trading with the users.
The master trust also deals in other segments like equity and F&O. The margin offered is almost two times the trading account value, which is pretty good!
Through their discount broking subsidiary, My value trade, they also offer flat brokerage plans like others in the industry.
The presence of both discount and full-service options makes it a famous stockbroker in the industry.
Alice Blue: Top Commodity Broker in India
Alice blue won the award for the best commodity trading broker in south India from MCX in 2018. They are based in Bengaluru and have operations spread across the country.
Alice blue has 1000+ sub-brokers who help in the smooth conduct of operations. They offer both brokerage plans- flat rate as well as a percentage basis.
For a flat rate, they charge INR 20 per trade, whereas, on a percentage basis, the rate varies as per segment chosen.
All their trading platforms, be it the mobile application, web trading application, or desktop platform, are highly user friendly.
When it comes to commodity trading, Alice blue was the first online broker to offer BO and CO facilities in this segment.
Best Commodity Trading Broker – Conclusion
So, if you are thinking about entering the commodity market, then you need to first find a stockbroker who meets your requirements.
After opening a Demat and trading account with them, you can begin your trading journey in the commodity market.
Open a Commodity Demat & Trading Account Now! – Fill up the Form
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