7 Best Commodity Broker In India 2023

Last year I get my hands on natural gas trading (commodity trading). I tested a few strategies for natural gas trading. Some of the strategies resulted in gains, while others involved losses. I shared natural gas trading strategy for beginners that works for me.

I tested Zerodha, 5paisa, and Upstox accounts for natural gas trading. Commodity trading requires a broker that offers real-time data, an easy-to-use trading platform, numerous charting & screening tools, technical indicators, and deep research.

I have shortlisted the 7 best commodity brokers in India based on different flavors like cheap brokerage, robust trading platforms, plenty of technical indicators, and advisory services (if you need handholding in your trading journey).

Best Commodity Broker In India

#1. Zerodha

Zerodha review

You can trade in 14+ commodities including precious metals like Gold. Each commodity has different segments such as Gold has 4 types further – Gold, Gold M, Gold Guinea, and Gold petal.

Zerodha has a simplistic and stable trading platform Kite that allows you to seamlessly trade in your favorite commodity. Zerodha offers 100+ charting and more than 250 technical indicators to help you deeply analyze the market trend.

Regarding brokerage, Zerodha charges flat Rs. 20 per order against commodity trading.

Features of Zerodha

Account opening feeRs. 200 (for equity) + Rs. 100 (for commodities)
Annual maintenance feeRs. 300 annually
Brokerage (Equity, commodity and currency)Equity delivery – Free
Options trading – Flat Rs. 20 per order
Other segments – 0.03% to Rs. 20 per order (whichever is lower)

You can go through our detailed Zerodha Review article for discovering further about the Zerodha Demat account platform.

#2. Angel One

Angel One review

Angle One offers flat Rs. 20 brokerage for commodity trading along with advisory services. 

If you are a newcomer who requires some handholding while trading commodities, then Angel One is an ideal choice. You get a dedicated relationship manager to help you with your trading decisions. 

Angel One also has offline sub-broker offices in 900+ cities if you want to personally connect with someone for further guidance.

In terms of the trading platforms, Angel has a powerful web platform and you can also enjoy trading on the go as the Angel One app is simple and easy to use. 

Features of Angel One

Account opening feeZero
Annual maintenance feeRs. 450 per year
Brokerage (Angel iTrade Prime Plan)Equity delivery – Free
Commodity F&O – Flat Rs. 20 per order
Other segments  – Flat Rs. 20 per order

#3. ICICI Direct

ICICI direct review

If you have a savings account with ICICI, you can open an ICICI Direct 3-in-1 account that is savings, Demat, and trading account. 

ICICI Direct offers a discounted brokerage of Rs. 20 per order for commodity trading. 

You can efficiently trade using ICICI Direct’s in-house trading platform called Trader Racer Web. Apart from a fast and stable trading platform, you can also get new insights on commodity market trends from ICICI Direct’s 3 tools –

  • iClick2Gain – keeps you updated with live trading recommendations to make informed trading decisions during market hours. 
  • Weekly report – provides critical information about how different commodities went through the last week.
  • Monthly view – A detailed analysis of the whole month’s commodity market behaviour is helpful in future trading decisions. 

Features of ICICI Direct

Account opening feeRs. 299
Annual maintenance feeRs. 300 per year
Brokerage (ICICI Direct Neo plan)Flat Rs. 20 per order

#4. Edelweiss 

Edelweiss review

Edelweiss is a full-service broker with an 8 lakh client base in India. Edelweiss has recently introduced its lite plan with low-cost brokerage of flat Rs. 10 per order.

You can enjoy in-depth research advisory at the cost of a discount broker.

You also get comprehensive market information for commodities through its Terminal X3 trading platform. Terminal X3 is equipped with advanced features like data analytical tools, and 60+ advanced indicators and you can also create multiple watchlists on the dashboard. 

Features of Edelweiss

Account opening feeZero
Annual maintenance feeRs. 300
Brokerage (Equity, commodity and currency)Flat Rs. 10 per order

If you want to know more about top stock brokers in India, then reading our list of best demat and trading accounts in India, would be useful for you.

#5. 5paisa

5paisa review

5paisa helps you trade in around 16 commodities available on their platform. You have to pay a nominal brokerage of Rs. 20 per order. 

But if you are into heavy trading, then you can go with their Ultra trader plan which will reduce the brokerage to Rs. 10 per order and your net banking plus DP transaction charges will also be waived off.

Along with commodity trading 5paisa also becomes a one-stop shop for you that allows you to go for insurance, loan, gold investment, wealth management as well as US stocks from the 5paisa app only.

Features of 5paisa

Account opening feeZero
Annual maintenance feeRs. 25 per month
Brokerage Regular Plan – Flat Rs. 20 per order
Power Investor – Flat Rs. 10 per order (monthly charges Rs. 599)
Ultra Trader – Flat Rs. 10 per order (monthly charges Rs. 1199)

#6. Upstox

upstox review

Upstox also offers flat Rs. 20 brokerage per order similar to the above-discussed brokers. But you’ll get the benefit of free account opening and a lifetime free trading account. Whereas you have to pay some AMC (annual charges) with the other brokers.

Upstox also has a snappy platform called “Upstox Pro”, you can enjoy glitch-free, user-friendly UI on both the web and mobile app. 

You also get 250+ technical indicators and charting tools for deep technical analysis of commodity market trends.

Features of Upstox

Account opening feeZero
Annual maintenance feeZero
Brokerage (Equity, commodity and currency)Equity delivery – 2.5% to Rs. 20 per order (whichever is lower)
Options trading – Flat Rs. 20 per order
Other segments – 0.05% to Rs. 20 per order (whichever is lower)

You can also read our complete guide on Upstox review for a detailed analysis of the Upstox broker.

#7. Wisdom Capital 

Wisdom Capital demat account review

Wisdom capital is popular for its cheapest brokerage at Rs. 9 per order for your commodity futures and options trades.

You can invest in 10 major Agri and non-agri commodities via Wisdom capital’s NEST trader terminal platform. 

Nest platform is one of the most robust, and stable terminal-based trading platforms that allows you to create real-time data widgets that generate triggers, and price alerts as per your requirements. 

Wisdom capital is an ideal choice for you if you are looking for a low-cost broker for your commodity trading endeavors. 

Features of Wisdom Capital

Account opening feeZero
Annual maintenance feeRs. 999
Brokerage (Equity, commodity and currency)Equity trading – 0.01% per order 
Commodity trading – Flat Rs. 9 per order
Other segments – Flat Rs. 9 per order

If you want a low-cost broker that doesn’t charge you much, then go through our latest guide on free demat accounts with no annual charges in India

The Verdict

You can go with Zerodha to trade in more than 20 commodities such as Gold, Natural gas, and many more at a flat brokerage of Rs 20 per order along with a simple & robust trading platform. 

Angel One is another favorite for commodity trading that allows you to trade at discount brokerage and you get advisory services at no extra cost. 

You can also join ICICI Direct if you have savings account in ICICI Bank, you’ll get a free 3-in-1 account for commodity trading. Along with in-depth analysis reports for your commodity trades on a daily, weekly, monthly, and even yearly basis.

About Rajan Dhawan

Rajan has covered personal finance and investing for over 5 years. Previously, he was in the IT field for 8 years after completing his MCA but his deep interest in personal finance led him to become an investing expert. He is passionate about investing, stocks, startups, and cryptos.

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