Angel One Revises Brokerage Fees as Active User Numbers Dip; Minimum Brokerage Increased to ₹5.

Angel One Updates Brokerage Rates Amid Decline In Active Client Base; Minimum Charge Raised To Rs 5

In a move that reflects the changing dynamics of the Indian stockbroking industry, Angel One has announced revisions to its brokerage fee structure, effective November 17, 2025. This decision comes amidst a reported decline in the active client base across major broking platforms, including Angel One itself. The brokerage firm will now levy a minimum charge of ₹5 on equity delivery and intraday trades.

Brokerage Rate Revisions

Angel One has revised its brokerage fee structure for trades executed across its platform. Transparency is a priority, and this update ensures that Angel One can continue to invest heavily in the technology and security its clients rely on. The key changes are:

  • Equity Delivery: While the brokerage remains the lower of INR 20 or 0.1%, a minimum charge of INR 5 will be applied.
  • Equity Intraday: Similar to equity delivery, the brokerage will be the lower of INR 20 or 0.1%, with a minimum charge of INR 5.

These revisions mark a shift from the previous structure and will directly impact traders, especially those dealing with smaller transaction values. Angel One had previously offered zero brokerage for Equity Delivery, with a minimum charge of ₹2 after an initial offer period.

Factors Influencing the Decision

Several factors appear to have contributed to Angel One's decision to update its brokerage rates:

  • Decline in Active Client Base: The Indian stock market's active user base fell in September 2025, continuing a trend observed across major broking platforms. Angel One's client base stood at 6.89 million in September, reflecting a month-on-month decline of 2.28%.
  • Regulatory Changes: The Securities and Exchange Board of India (SEBI) has introduced measures impacting trading volumes and revenue for brokers. These include curbs on equity derivatives trading, raised minimum contract values, and limitations on weekly index options.
  • Diversification Efforts: Angel One has been proactively diversifying into margin funding, wealth management, insurance, loan distribution, and asset management.

Impact on Angel One

The brokerage revisions and the changing market landscape are expected to have several impacts on Angel One:

  • Revenue Adjustments: While the company's management anticipates a reduction in overall revenue due to the flat brokerage fee, they expect the minimum charge of ₹5 per order to mitigate this impact.
  • Profitability: Angel One posted its third-straight quarterly profit decline, with consolidated profit slumping 50%. The brokerage changes may help to stabilize profitability in the coming quarters.
  • Strategic Shift: The company is focusing on diversifying its revenue streams to reduce reliance on volatile derivatives income.

Client Communication and Consent

Angel One has communicated the revised pricing schedule to its users, emphasizing transparency. By continuing to use the platform after November 17, 2025, clients are deemed to have given their formal consent to the new fee structure.

Broader Industry Trends

Angel One's decision reflects broader trends within the discount broking industry. While some firms like Zerodha have resisted increasing brokerage charges, others are adjusting their models to address changing market conditions and regulatory requirements. These adjustments include revisions to transaction charges, the introduction of new fees, and a greater emphasis on value-added services.


Written By
Thoughtful, analytical, and with a passion for sports, Kabir is drawn to in-depth reporting and exploring complex social issues within his region. He's currently developing research skills, learning to synthesize information from various sources for comprehensive, nuanced articles. Kabir, also an avid sports enthusiast, believes in the power of long-form journalism to provide a deeper understanding of the challenges and opportunities facing his community.
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