Throughout history, financial assets like stocks, bonds, currencies, and commodities have seen cycles of rising and falling. The volatility of the financial market provides investors with opportunities to grow their hard-earned funds. However, making the most of your investment begins with finding a broker who matches the goals you have for your investment.
If you’re looking for the finest stock brokers in India, then this article can answer all your questions. Also, we have compiled a list of ten of our favorite stock brokers that we believe can give you a better trading experience. Even so, we urge you to conduct your own research before making a decision.
Table of Contents
What are Stock Brokers?
The role of a stockbroker is actually that of a middleman who helps investors buy and sell stocks.
Stocks are traded through stock exchanges, but investors cannot directly purchase or sell on the exchange; an intermediary is needed. The role of stock brokers comes into play here. A stockbroker can be a person or company that purchases and sells stocks for you. In addition to helping investors find the right stock to invest in, stockbrokers also provide investment advice.
What are full-service stock brokers?
In general, a full-service broker provides its clients with a wide range of additional services, such as investment advice, retirement planning, tax saving strategies, and so on. Commissions are naturally higher for these services.
If you are not interested in doing your own investment research or you have a large amount of money and want to generate a particular investment scenario, full-service brokers can be useful.
What are discount brokers?
Discount brokers are stock brokers who carry out buy and sell orders at a lower commission rate than full-service brokers. In addition, they do not offer investment advice or market analysis, unlike full-service brokers. Online stock trading platforms are offered by discount brokers, allowing investors to trade stocks online.
What are the best stock brokers in India?
These are 10 of our favorite stock brokers in India, which we believe can offer you a better trading experience.
Established in 1994, Kotak securities is an Indian full-service stock broker with around 12 lakh active clients. kotak mahindra securities offers a 3-in-1 account facility (Demat, Trading, and Bank) to its retail investors. It offers multiple investment options like equities, mutual funds, and derivatives. Also, the kotak securities trading platform gives you direct access to the US market.
|What is kotak securities number of active clients||1.2 million|
|What is kotak securities market share?||Around 3.49%|
|What is the brokerage charges of Kotak Securities?||The details can be found here.|
What are the kotak securities benefits?
- You can enjoy trading in kotak securities, you can use their terminal-based, and web-based, trading platforms, and you can also use the kotak securities app. It also offers Keat pro X (designed to provide advanced charting tools) and Fastline (a market tracking tool) for advanced traders.
- Kotak securities has 1128+ branches in over 352 cities in India, so if you have any investment-related problem, then you can simply visit any one of their branches or contact the kotak securities customer care department.
Now you might ask, How safe is Kotak Securities? Well, with over 25 years of experience and over 12 lakh active customers, Kotak securities are one of the most secure stockbrokers in India. Additionally, kotak securities charges are pretty competitive, and it has a very strong parent company to support it financially whenever they need it. So, in terms of safety and security, kotak securities ltd would be a solid choice for you.
When it comes to affordable and impressive trading services, IIFL always holds a place among the best. iifl finance limited was first established in 1995, since then it has grown a lot, and today it is one of India’s biggest stockbrokers with over 2.3 lakh active customers.
What are iifl securities details?
|What is iifl securities number of active clients?||Above 2.3 lakh|
|IIFL security market share||Around 3.14%|
|What is iifl brokerage charge?||The details can be found here.|
What makes iifl securities ltd our favorite?
- With IIFL, you will get a sophisticated trading platform. The iifl trading terminal is installable and capable of high-volume trading. You can trade here in cash, mutual funds, derivatives, derivatives, IPOs, etc. all in one place.
- With the iifl app, you can get free online trading tips, research reports, online IPO, back office reports, etc.
- There is also an iifl mutual fund app available, which allows you to invest in mutual funds more conveniently.
A significant portion of iifl securities‘ clients are retail investors, and the company is listed on SEBI, BSE, NSE, MCX, and NCDEX. This company is one of the few stockbrokers that participates in both NSDL and CDSL’s depository systems. With branches in India as well as prominent cities around the world, it has a very extensive network of iifl branches. Additionally, iifl securities customer care department is always helpful and very responsive.
With lakhs of active customers and an excellent track record of over 20 years, ICICI direct is one of the largest stock brokers in India. As of August 2022, icici bank direct has an active client base of 3million and offers a range of investment options such as stocks, mutual funds, bonds, etc.
|Number of active clients||Around 3 million (As of 9/10/22)|
|What is icici direct market share?||Around 8.41% (As of 9/10/22)|
|What is icici direct brokerage charges?||The details can be found here.|
What makes ICICI direct our favorite?
- ICICI direct allows you to integrate your banking, broking, and Demat accounts under one account.
- Both the BSE and NSE trading options are available.
- Unlike other trading companies, you are allowed to manage your Demat and bank accounts through your icici direct account. Click here to go to the icici direct login page.
- Those who have a slower internet connection, can use the low-bandwidth website. It will provide them with a better experience.
- The VTC (Valid Till Canceled) feature allows customers to place buy and sell orders that remain valid for 45 days after placement.
If you are worried about the security of your investment, then ICICI direct would be the best choice for you. It has a very strong parent company to hold its back. Additionally, icici direct securities is also listed in SEBI, NSE, and BSE.
Angle one formally known as angel broking is a one-stop solution for traders. It is one of the leading full-service brokers in India that also offers discount broking services to its customers. It also has an excellent track record of 26 years and a huge active customer base of 36 lakh.
|Number of active clients||3.6 million (in the fiscal year 2022)|
|What is angel broking market share?||Around 10.15% (As of 9/10/22)|
|Brokerage charge||The details can be found here.|
What makes Angle one of our favorites?
- You can enjoy full-service brokerage facilities and the angel broking brokerage charges are very competitive.
- Beginners can also enjoy training and handholding services.
- There are no charges involved with NEFT and fund transfers.
- You can enjoy free tips on stock and mutual fund investments.
- Unlike other brokers, with angel broking pvt ltd, you will get your own relationship manager that can help you whenever you need it.
One might ask, ‘Is Angel Broking good?’ In India, Angel One is regarded as one of the best and most reliable full-service brokers. The angel broking trading platform relies completely on algorithms without any human involvement. Besides having a good management team and technology-based tools, angel broking charges are always very competitive.
In India share khan ltd is one of the first stock brokers to establish its own trading platform. It is also one of the most trusted stockbrokers in India. The company is a subsidiary of the European bank BNP Paribas. Additionally, the company is registered with SEBI, CDSL, BSE, NSE, MCX, and MSEI.
|Number of active clients||764250 (in the fiscal year 2022)|
|What is share khan market share?||Around 2.12% (As of 9/10/22)|
|How much does sharekhan cost?||The details of the share khan brokerage charges can be found here.|
What makes Sharekhan one of our favorites?
- Customers can choose from a variety of share khan trading platforms. Trading can be conducted via web browser, installable trading terminals, share khan app, telephone, or in-person at branch offices.
- There are multiple share khan brokerage charges available. As your trading volume increases, Sharekhan reduces your brokerage fee.
- For beginners, share khan broking offers classroom trading, workshops, and seminars.
- You will not be charged for online fund transfers.
- For futures and options trading, Sharekhan accepts fixed deposits as collateral.
- There are no charges involved with the call & trade facility.
Now, you might ask, Is sharekhan a good broker? Besides being a subsidiary of BNP Paribas, Sharekhan is also regulated by the Securities and Exchange Board of India. Consequently, it is generally considered safe due to its stability and regulation associated with its parent company.
With over 18 years of experience in the Indian market, hdfc securities ltd has become one of the leading full-service stock brokers. Customers can invest in and trade shares, bonds, futures, options, buybacks, mutual funds, IPOs, currency derivatives, commodities, and stock portfolios through the company.
|Number of active clients||Around 1141 thousand (As of 9/10/22)|
|What is hdfc securities market share?||Around 3.17% (As of 9/10/22)|
|HDFC securities brokerage charges||The details can be found here.|
What are the hdfc securities benefits?
- It is a 3-in-1 account that allows you to merge your banking, broking, and Demat account under one share khan account.
- You can use the hdfc securities app to invest directly in IPOs, Mutual Funds, GOI bonds, Postal savings schemes, and Insurance.
- The hdfc securities trading platform supports both the BSE and NSE trading options.
- The hdfc bank securities trading platform is very useful for beginners.
HDFC Securities is a BSE and NSE registered stock broker with the strong support of HDFC bank, one of the leading financial institutions in India. But the hdfc securities charges are pretty high, so make sure to check the property trading terms before you start trading with hdfc securities limited.
Zerodha is a name that does not need any special introduction. It is the uncrowned king of stock brokers with a staggering customer base of over 9 million. It has a very intuitive and easy-to-use mobile app, responsive and always helpful customer service, and a quick trade execution facility, which makes it an ideal platform for investors.
|When was zerodha founded?||2010|
|Number of active clients||Over 9 million (As of 9/10/22)|
|What is zerodha market share?||Around 17.42% (As of 9/10/22)|
|How much does Zerodha charge per month?||The details of zerodha brokerage charges can be found here.|
What makes Zerodha one of our favorites?
- It is currently the largest stock broker In India both by daily trading volume and number of active clients.
- The zerodha brokerage charges are very competitive, and you will not be charged for making any deposits or withdrawals.
- There are no charges involved if stocks are bought using the cash-and-carry option.
- You can also use the zerodha refer and earn program to earn a 10% brokerage share on successful referrals.
- You will not be charged any clearing charges.
- You can use the zerodha app to apply for new IPOs.
If you have queries like, Is Zerodha trustworthy? Then you would be relieved to know that zerodha is one of India’s safest, most trustworthy, and most reliable stockbrokers. It has all the necessary accreditations and memberships to operate as a legitimate stockbroker. For over a decade, their popularity has grown consistently, proving their trustworthiness.
Upstocks is one of the leading discount stock brokers in India with over 10 million customers and over a decade-old wonderful track record. The Upstocks app has a very intuitive user interface and a responsive customer service team, making it a solid choice for investors.
|Number of active clients||Around 10 million (As of 9/10/22)|
|Market share||Around 14.47% (As of 9/10/22)|
|Brokerage charge||The details can be found here.|
What makes Upstox one of our favorites?
- You will get a zero balance Demat account with Upstox.
- It comes with a competitive trading fee of just Rs.20 per trade.
- The Upstox mobile app has a very user-friendly interface and there are no charges involved with it.
- The pro traders can use the Upstox web trading platform, it has some useful tools including market trackers.
- You can enjoy cover order and Aftermarket order facilities with both the Upstox app and the web.
- You can use the Upstox developer console to build your own trading app.
- The Upstox app can also be used to invest in mutual funds.
In case you are wondering, “Is Upstocks safe? ” then you should know that it is a member of SEBI, BSE, NSE, MCX, and CDSL. There are reputable investors who have backed the company, including Ratan Tata, Tiger Global, and GVK Davix. Upstocks would therefore be a great place to invest in terms of security.
Groww is a great choice if you’re new to the stock market and looking for an easy-to-use discount broker to get started with investing. With 1.5 Cr customers, Groww has grown from being a direct mutual fund investment platform in 2016 to being one of India’s leading discount stockbrokers.
|Number of active clients||More than 1.5 Cr. (As of 9/10/22)|
|Market share||Around 10.68% (As of 9/10/22)|
|Brokerage charge||The details can be found here.|
What makes Groww one of our favorites?
- The Groww app has a very competitive pricing structure, it charges only Rs.20 for every trade.
- You will not have to pay any account opening charges.
- You can use the Groww app to apply for IPOs.
- The Groww app has a mutual fund investment platform that can help you to earn some extra returns.
- There is also an option available for investing in digital gold.
- You can also trade in SME shares.
Listed on NSE and BSE, Groww is the brand name of Nextbillion Technology Private Limited, a SEBI-registered stockbroker. As such, Groww would be a great choice for investors looking for a safe place to invest.
Established in 2017, Paytm Money is a Bangalore-based discount broker with over 6 million active customers. Since its inception as a direct mutual fund investment platform, Paytm Money has grown significantly and now ranks among India’s top discount brokers.
|Number of active clients||Around 6 million (As of 9/10/22)|
|Market share||Around 1.12% (As of 9/10/22)|
|Brokerage charge||The details can be found here.|
What makes Paytm Money one of our favorites?
- The trading platform has a very intuitive and robust interface.
- Paytm money has a very low pricing model, you just have to pay Rs.15 for every trade.
- You can also use the direct mutual fund platform to invest in mutual funds.
- You can also invest in digital gold.
- You can apply for online IPOs from the Paytm money app.
In addition to being a stockbroker, Paytm Money is also an investment advisor registered with SEBI. Additionally, the company is a member of NSE and BSE and is a depository participant of CDSL.
As you enter the stock market, your first and most important step would be to select your stock broker. It can be a bit challenging since there are so many options available in the market. You have to conduct your own research and find the broker that suits your needs. Here are some factors that you should take into consideration while comparing different brokers.
- Reputation and background:
The first thing you have to make sure is that your broker has a good reputation and user reviews. You can read reviews online, or if you want to use the mobile app for investing, make sure to check the rating on the play store or app store.
- Brokerage and other charges:
A brokerage charge is imposed on the investor when they execute a buy or sell order with a stockbroker. Full-service brokers can charge a pretty high fee for this service. Be sure to check the brokerage rates and other hidden fees before choosing a broker.
- Customer service:
If you are a beginner, then it is most likely that you would need the help of technical support a few times. The easiest way to contact them is by calling the helpline department. Therefore having an active customer support team is always important.
- Trading platforms:
In my opinion, this is the most important factor to take into consideration. Ensure that the trading platform is user-friendly, robust, and capable of supporting all your needs.
- Research and other facilities:
If you want to be dependent on your broker’s advisory/research reports and don’t want to invest much time in research, then you must check if your broker offers a research facility. Also, make sure your broker has experience with research works in the past.
- Education facilities:
Educating their clients through videos and blogs is a common practice among brokers. Hence, if you are in the learning phase, you should make sure your broker offers these services.
The stock brokers mentioned in this article may appeal to certain people more than others. It would be a smart idea to start with a discount broker if you want to do online training. In contrast, frequent traders would prefer to take advantage of the advanced features available with full-service brokers.
The most suitable stock broker for you would be one that fits your budget and fulfills all your financial goals. This would make investing fun and comfortable for you.
FAQs on Stockbrokers:
What is the minimum balance in Kotak Securities?
You don’t need to maintain any minimum balance with Kotak securities.
Which is better Kotak Securities vs Icici direct?
There are advantages and disadvantages to using Kotak Securities and ICICI Direct. With over 25 years of experience, Kotak Securities is known for its quick customer service. In contrast, ICICI Direct offers well-researched tips and analyses.
Is IIFL a good company?
IIFL is one of the most reliable and trusted and secured stock brokers in India, they have all the required certifications and memberships, and they are best known for their advanced trading platform, advisory services, and the iifl customer care department is always active and helpful.
What is IIFL full form?
IIFL stands for India Infoline Limited.
Is IIFL a bank?
IIFL is an NBFC (non-banking financial company)
Which one is better Zerodha or Angel Broking?
With the largest number of customers in India, Zerodha is the most technologically advanced stock broker in India. Compared to Angel One, Zerodha has a better self-service platform and an education awareness platform.
Is Angel Broking really free?
Angel broking is not completely free, there are certain charges involved with it. You can find the details here.
Who is the CEO of sharekhan?
Jaideep Arora is the CEO of ShareKhan.
Is sharekhan good for beginners?
Sharekhan offers in-person onboarding, training, local support, and relationship management, making it a good choice for beginners.
Is Zerodha good for beginners?
Definitely, it is a good platform for beginners as it is easy to use and very user-friendly. There are also video tutorials available and the zerodha customer care support is also excellent.
Is Zerodha a Chinese company?
Zerodha is a financial services company based in India. Founded in 2010, the company is headquartered in Bangalore and operates in nine major Indian cities.
Disclaimer: I am not a certified financial adviser and this is not financial advice. The purpose of this article is to inform you about financial products and strategies. Consult your financial advisor before making any financial decisions.