Angel One is one of the largest brokers in India with more than 3.5 crore clients across stocks, F&O, mutual funds, IPOs, and commodities. The app bundles 25 years of broking heritage with a modern interface and a free Demat account. The reasons users look around are mostly two: brokerage on equity delivery is no longer zero (Angel introduced delivery brokerage in late 2024), and the app’s product surface keeps widening into loans and motor insurance, which can crowd the trading experience.
This guide compares 7 of the best Angel One alternatives for stocks, F&O, mutual fund SIPs, and IPO applications. Every option is SEBI-registered, runs end to end on a phone, and supports the core Demat workflow. The right pick depends on whether you trade actively or invest passively, and how much you value charting depth, brokerage, or a clean UI.
Why people leave Angel One
- Brokerage on equity delivery returned in late 2024. The previous zero-brokerage delivery proposition is no longer in place. Users on r/IndianStreetBets and r/IndiaInvestments document the switch and the per-order cost it adds.
- Wider product surface beyond trading. Personal loans, motor insurance, and credit-related products live next to the trading core, which feels heavy for users who only invest.
- Charting is good but not best-in-class. Tradingview-grade depth and indicator customisation sits with brokers like Dhan and Upstox that built around the chart.
- Customer support response time is variable. Users report inconsistent resolution times during volatile sessions.
- Margin and pledge flows have changed multiple times. The SEBI peak-margin rules and Angel’s response have caused UX revisions some users find harder to follow than at simpler brokers.
Which app should you choose?
-
Zerodha Kite if you want the most established discount broker in India. Zerodha pioneered the model and has the largest active client base.
-
Groww if you want the cleanest UI for stocks, mutual funds, and US stocks in one app. Built for new investors.
-
Upstox if you want strong charting and a fast order pad. Upstox is one of the original chart-first brokers.
-
Dhan if you are an active options or F&O trader. Dhan was built around the active-trader experience.
-
5paisa if you want the lowest fixed per-order brokerage. 5paisa stays competitive on price.
-
Paytm Money if you want broking inside the Paytm super-app login. Single account, fewer logins.
-
ICICI Direct if you want a full-service broker tied to a major bank account. Bank-broker integration runs deep.
Stay on Angel One if you use multiple Angel products (loans, insurance, or its advisory layer) and value the long heritage. The brokerage difference vs Zerodha or Groww on a per-trade basis is small for casual delivery investors.
Quick comparison
| App | Best for | Equity delivery | F&O brokerage | Standout feature |
|---|---|---|---|---|
| Zerodha Kite | Established discount broker | Rs 20 or 0.03% (lower) | Rs 20 per order | Kite plus Console plus Coin ecosystem |
| Groww | Clean app for new investors | Rs 20 or 0.05% (lower) | Rs 20 per order | US stocks plus MF plus stocks in one |
| Upstox | Charting and order pad | Rs 20 or 2.5% (lower) | Rs 20 per order | Strong intraday charts |
| Dhan | Active options traders | Rs 0 (free delivery) | Rs 20 per order | Built for F&O |
| 5paisa | Lowest fixed brokerage | Rs 20 per order | Rs 20 per order | Subscription plans available |
| Paytm Money | Paytm users | Rs 20 per order | Rs 20 per order | One Paytm login |
| ICICI Direct | Bank-broker integration | Variable (% based) | Variable | Three-in-one with ICICI Bank |
1. Zerodha Kite -- best established discount broker
Zerodha is the original discount broker in India and Kite is its trading app. Equity delivery is the lower of Rs 20 or 0.03% per order, F&O and intraday are flat Rs 20 per executed order. The broader Zerodha ecosystem includes Coin for direct mutual funds (zero commission), Console for analytics, and Streak for algo strategies.
Where it falls short: Account opening can be slow during peak periods. The app deliberately avoids advisory or stock recommendations, which some new investors miss.
Pricing: Account opening Rs 200 to Rs 500. AMC Rs 300 per year on Demat. Brokerage as above.
Migrating from Angel One: Open a Zerodha account with PAN-Aadhaar e-KYC. Transfer holdings via off-market closure or CDSL Easiest. Use the same UPI accounts; trading limits refresh quickly.
Download: Google Play · App Store
Bottom line: Pick Zerodha if you want the longest-running discount broker with a no-frills product approach and the largest active client base in India.
2. Groww -- best clean UI for new investors
Groww has more than 1 crore active investors and runs stocks, mutual funds, US stocks, FDs, and digital gold in one app. The UI is the cleanest in the category and the onboarding flow is the easiest for first-time investors. Equity delivery brokerage is Rs 20 or 0.05% (lower).
Where it falls short: Charting depth is light compared to Dhan or Upstox. Advanced order types are fewer. F&O strategy builders are not as developed.
Pricing: Zero account opening on most schemes. No AMC currently on basic accounts. Brokerage as above.
Migrating from Angel One: Open Groww with PAN-Aadhaar e-KYC, transfer holdings via off-market. New SIPs can run in parallel with Angel One’s existing SIPs.
Download: Google Play · App Store
Bottom line: Pick Groww if you are new to investing and want one clean app for stocks, mutual funds, and US stocks.
3. Upstox -- best for charting plus fast order pad
Upstox is one of the original chart-first discount brokers in India. Charting is integrated tightly with order placement, which intraday users appreciate. The app offers stocks, F&O, currencies, commodities, and mutual funds. Backed by Ratan Tata and Tiger Global.
Where it falls short: Onboarding has improved but is still heavier than Groww. UI feels more crowded than Zerodha Kite.
Pricing: Zero account opening. Brokerage Rs 20 or 2.5% (lower) for delivery, Rs 20 flat for F&O and intraday.
Migrating from Angel One: Open Upstox account, transfer holdings via off-market or CDSL Easiest, set up watchlists.
Download: Google Play · App Store
Bottom line: Pick Upstox if you do intraday or F&O regularly and want strong charting integrated with the order pad.
4. Dhan -- best for active options and F&O traders
Dhan was built around active trading with deep options-strategy tools, a strong order pad, and zero brokerage on equity delivery. The app sits between a true discount broker and an active-trader workstation. Margin trading facility is competitively priced.
Where it falls short: Smaller client base than Zerodha or Groww means smaller community for support. Mutual fund range is narrower.
Pricing: Equity delivery free. F&O and intraday Rs 20 per order. Account opening typically free.
Migrating from Angel One: Open Dhan with PAN-Aadhaar e-KYC, transfer holdings, set up F&O strategies.
Download: Google Play · App Store
Bottom line: Pick Dhan if F&O is the main use case and you want zero-brokerage delivery alongside professional-grade options tools.
5. 5paisa -- best lowest fixed brokerage
5paisa charges a flat Rs 20 per order across equity delivery, intraday, and F&O. Subscription plans bundle unlimited trades for a monthly fee, which can be cheaper for very active traders. The platform covers stocks, F&O, mutual funds, US stocks, and insurance.
Where it falls short: UX is functional rather than polished. Mutual fund recommendations are paid-tier features. Customer support is mid-pack.
Pricing: Account opening Rs 0 to Rs 250 depending on plan. AMC Rs 25 to Rs 50 per month. Brokerage Rs 20 flat per order.
Migrating from Angel One: Open 5paisa, e-KYC, transfer holdings via off-market. Set up SIPs and watchlists.
Download: Google Play · App Store
Bottom line: Pick 5paisa if you trade actively and want the flat-Rs-20 brokerage or are willing to subscribe for unlimited trades.
6. Paytm Money -- best for Paytm users
Paytm Money sits inside the wider Paytm super-app and gives a single login for UPI, mutual funds, stocks, and NPS. The trading interface is competent for delivery and intraday investors and the integration with Paytm’s bank account makes funding instant.
Where it falls short: Charting depth is lighter than Dhan or Upstox. F&O strategy tools are basic. Account opening can occasionally route through extra verification.
Pricing: Zero account opening. AMC depends on the plan. Brokerage Rs 20 flat per order.
Migrating from Angel One: Open Paytm Money inside the Paytm app, complete e-KYC, transfer holdings via off-market.
Download: Google Play · App Store
Bottom line: Pick Paytm Money if you already live inside Paytm and want trading without a separate broker app.
7. ICICI Direct -- best bank-broker integration
ICICI Direct is the broking arm of ICICI Bank and offers a three-in-one account (Demat plus broking plus savings) that automates fund flow during trading. Full-service offerings include research, advisory, and managed portfolios. ICICI Direct vs Angel One is full-service-bank-broker vs discount-broker-with-extras.
Where it falls short: Brokerage is percentage-based and meaningfully higher than discount brokers. The app is heavier and slower than discount counterparts. Advisory comes with fee overlays.
Pricing: Variable brokerage starting around 0.275% on delivery for the basic plan. Subscription plans (Prime, Neo) lower this. AMC varies.
Migrating from Angel One: Open ICICI Direct with ICICI Bank linkage, complete profile, transfer holdings.
Download: Google Play · App Store
Bottom line: Pick ICICI Direct if you bank with ICICI and want research and advisory tightly bundled with broking.
How to choose
Pick Zerodha Kite if you want the most established discount broker with the largest community and an ecosystem (Coin, Console, Streak) that extends beyond the trading app.
Pick Groww if you are starting out and want the cleanest possible interface for stocks, mutual funds, and US stocks in one app.
Pick Upstox if intraday and F&O are central and you want charting tightly integrated with the order pad.
Pick Dhan if you trade options seriously and want professional-grade strategy tools plus zero brokerage on equity delivery.
Pick 5paisa if you trade actively and want either a flat Rs 20 brokerage or a subscription plan for unlimited trades.
Pick Paytm Money if you already live inside Paytm and want broking without a separate app.
Pick ICICI Direct if you bank with ICICI and want research, advisory, and a three-in-one account.
Stay on Angel One if you use multiple Angel products beyond trading (loans, insurance, advisory) or value the 25-year heritage. For a casual delivery investor, the per-trade brokerage difference vs Zerodha or Groww is small.
FAQ
Which is the cheapest broker in India after Angel One? Dhan offers zero brokerage on equity delivery, which is the lowest. Zerodha, Groww, Upstox, 5paisa, and Paytm Money all charge Rs 20 flat or 0.03% to 0.05% on delivery, whichever is lower. F&O brokerage is broadly Rs 20 per order across all discount brokers.
Can I transfer my holdings from Angel One to another broker? Yes. Use the off-market transfer route (DIS slip) or CDSL Easiest for online transfer. The new broker will guide you through the request. Stocks remain in your name; only the broker custodian changes.
Is Zerodha better than Angel One? Zerodha has a longer track record (founded 2010), larger active client base (1.2+ crore), and a deeper ecosystem (Coin, Console, Streak). Angel One has 3.5 crore registered clients (broader counts) and a wider product range beyond trading. The right answer depends on whether you want only trading or trading plus other finance products.
What is the best app for F&O trading in India? Dhan is widely regarded as the best F&O app for active traders, with options strategy tools, deep order pad, and competitive margin trading. Upstox is the second most popular for charting plus order execution.
Which broker has the lowest brokerage on delivery? Dhan charges zero brokerage on equity delivery. Other discount brokers charge Rs 20 flat or a percentage-based fee, whichever is lower.
Can I have accounts at multiple brokers? Yes. There is no SEBI restriction on the number of Demat accounts an individual can hold. Many active investors run two or three brokers in parallel for different use cases (delivery, F&O, mutual funds).
