Zero-Brokerage Options Trading: Check the 2026 Costs Beyond Commission

A broker removes a ₹20 commission. That is a real saving. It does not remove every other cost, and it does not turn a losing strategy into a profitable one.

Separate the advertised brokerage from the full contract-note result.

The 2026 STT change matters

The Finance Act 2026 increases option-sale STT to 0.15% of premium. Exercised options use the intrinsic-value base on exercise at the revised 0.15% rate. Futures sales have a different 0.05% rate and base.

For an illustrative option premium sale of ₹10,000, 0.15% gives ₹15 of STT on that leg. That is not the complete round-trip charge and is not a tax on every contract's notional exposure in the same way.

Check the exchange's current charge table and the broker contract note for the actual transaction and commencement treatment.

Add the other charges

Include exchange transaction charges, SEBI fees, stamp duty and GST on the applicable service-charge base. Do not apply 18% GST indiscriminately to every statutory levy.

The broker may also have account, platform, data, auto-square-off or other disclosed charges. Not every account incurs every fee. The earlier named-broker price table has been removed because tariffs and eligibility change.

Execution costs do not appear as brokerage

The bid-ask spread is the difference between the available buy and sell prices. Slippage is the difference between your expected and achieved execution. Both can matter when contracts are thinly traded or prices move rapidly.

A cheaper commission does not guarantee better or worse execution. Compare actual fills and liquidity rather than assuming the trading app creates the entire spread.

Evaluate results after all costs

Use realised contract-note outcomes over a meaningful sample, including losing periods and the capital tied up. Include strategy drawdowns and time spent, not only the best screenshot.

SEBI's August 2026 individual-trader study remains a useful warning about widespread losses. It is not proof that every strategy is guaranteed to fail. Nor is a customer's market loss automatically revenue retained by their broker; the counterparty, clearing and fee flows are different.

A competitive fee schedule is worth choosing when other requirements are met. It should be the final cost comparison within a justified decision—not the reason to start taking leveraged risk.