Best Brokers for MCX Trading in India
Choosing the right broker is crucial for success in MCX (Multi Commodity Exchange) trading. A reliable broker provides low-cost access, real-time charts, stable platforms, and fast order execution—all of which can make or break your trading performance.
In this article, we review the best MCX brokers in India, comparing them by features, fees, support, and platform usability.
✅ What to Look for in an MCX Broker
Before choosing, consider the following:
- SEBI Registration
- MCX Membership
- Margin policies
- Mobile + web trading platforms
- Brokerage charges
- Customer service and account opening process
🏆 Top MCX Brokers in India (2025)
1. Zerodha
India’s largest discount broker, known for simplicity and low costs.
Features:
- Kite platform with TradingView charts
- ₹20 per executed order for MCX
- Advanced charting and order types
- Fast account setup
Best For: Beginners, intraday traders, tech-savvy users
2. Angel One
Full-service broker offering both research and low brokerage.
Features:
- Angel One Super App
- ₹20 per order for commodities
- Advisory reports and learning tools
- Research-backed trade ideas
Best For: Beginners and traders who need advisory + low fees
3. Upstox
Tech-driven discount broker with a fast-growing user base.
Features:
- Upstox Pro with MCX support
- ₹20 per trade or zero brokerage plans
- Fast, minimal UI and analytics
- Good for mobile trading
Best For: Mobile-first traders and high-frequency users
4. Kotak Securities (Kotak Neo)
Traditional bank-based broker with modern trading tools.
Features:
- Seamless integration with Kotak Bank
- Secure trading environment
- Offers MCX + NSE + BSE + Currency
- Slightly higher charges but strong support
Best For: Traders preferring brand trust and banking integration
5. 5paisa
Low-cost broker with flat-fee pricing and digital tools.
Features:
- Flat ₹10 per order (on premium plans)
- Easy app interface
- Research tools, robo-advisory, and margin funding
- Paperless account opening
Best For: Cost-conscious traders and multi-segment users
6. Sharekhan
Established full-service broker with strong MCX presence.
Features:
- Dedicated MCX tools
- Experienced support teams
- Research-driven trades
- Higher brokerage (percentage-based plans)
Best For: Serious commodity traders who want expert guidance
Comparison Table
| Broker | Charges (MCX) | Platform | Advisory | App Rating |
|---|---|---|---|---|
| Zerodha | ₹20/order | Kite + TradingView | No | 4.2★ |
| Angel One | ₹20/order | Angel One App | Yes | 4.4★ |
| Upstox | ₹20/order | Upstox Pro | No | 4.3★ |
| Kotak Neo | ₹20/order | Kotak Neo | No | 4.1★ |
| 5paisa | ₹10/order* | 5paisa App | Yes | 4.2★ |
| Sharekhan | % Based | TradeTiger/App | Yes | 4.0★ |
*5paisa ₹10 per order on paid plans; otherwise ₹20 per order.
FAQs
Which broker is best for MCX intraday trading?
Zerodha and Upstox offer fast platforms and low charges—ideal for intraday traders.
Can I open an MCX account online?
Yes, most brokers offer paperless account opening via Aadhaar-based eKYC.
Is margin trading allowed in MCX?
Yes, brokers allow margin trading based on the commodity and contract size. Check SPAN + exposure margins.
Do all brokers provide mobile trading for MCX?
Yes, all listed brokers have mobile apps with full MCX trading access.
Is SEBI registration important for an MCX broker?
Absolutely. Only trade with SEBI-registered and MCX-certified brokers to ensure safety and compliance.
