Top 10 Brokers in India and their Services
The historical evolution of the Indian market shows that the stock market has shown outstanding performance in the recent past with effects from retail investors, technological aspects, and development of new products. There lies the evolution of this market where stockbrokers play the role of the middle men between the investors and the stock exchange. Selecting the proper broker is significant for traders and investors, specifically since it defines the trader’s experience, cost, and profitability. In this blog, which will be a list of the best 10 brokers in India, we will also discuss the specialization, major services, and advantages that could help the brokers to survive in this highly competitive market.
Top 10 Stock Brokers In India
1. Groww
Overview:
Groww was started in 2016 and is one of the fastest-growing discount brokers which initially focuses on mutual fund investments and later foray into stock trades. The platform is focused on millennial first-time investors because of the easy to use technology offered by the Groww app.
Key Features:
- User-Friendly Interface: Groww has a nice design, the application for both mobile devices and using the web service is very easy to navigate and is perfect for a complete novice.
- Zero Brokerage on Delivery Trades: Currently, Groww does not charge brokerage on delivery in equity. It levies INR 20 flat fee on intraday as well as F&O segment trades all through the day.
- Educational Resources: Among others, Groww offers blogs, videos, and webinars which makes it easier to understand the various investments being made.
2. Zerodha
Overview:
Zerodha is the biggest stock broker of India in terms of the active clients and is popularly known as the broker who pioneered the discount broking in India. It was started in the year 2010 by Nithin Kamath, which brought in low-cost trading ideas which was subscribed by small investors.
Key Features:
- Low-Cost Brokerage: Zerodha costs nothing for delivery based trades and INR 20 for intraday and future and option trading.
- Technology-Driven: The broker has come up with unique trading software which is known as Kite, and it’s very user-friendly for the traders. It also has a portfolio of trading facilities that include Sentinel which is for research purposes, Streak for training, and Varsity, where traders can trade on their own.
- Educational Initiatives: New investors are offered various learning materials through the Zerodha Varsity which is an arm of Zerodha that offers carrying out of free shares trading education to new investors desiring to invest in the stock market.
Why Choose Zerodha ?
As such, Zerodha is strategically positioned as low-cost brokers applying new technologies to quality and leverage on education programs making it suitable for novice and well-experienced traders.
3. Upstox
Overview:
Another very popular discount broker in India is Upstox which was earlier known as RKSV Securities and have big investors including Ratan Tata and Tiger Global. Upstox was developed in the year 2011 and has been growing fast in terms of clients owed, majorly because of their cheap and efficient platform.
Key Features:
- Competitive Pricing: Upstox doesn’t charge any brokerage on equity delivery trading and INR 20 per trade for intra-day trading, F&O, Currency, and Commodity.
- Advanced Trading Platforms: The Upstox Pro Web and Upstox Pro Mobile have many charts, indicators, and easy order entry systems incorporated with them.
- API Trading: It provides API based service for trading that a professional programmer can use and design his / her trading strategies.
Why Choose Upstox?
Upstox is excellent for the traders who are focusing on low brokerage charges apart from getting powerful trading tools and support.
4. Angel One
Overview:
Angel One earlier known as Angel Broking is one of the oldest and trusted full-service brokers in the country. The company started its business in 1987 and it provides facilities in shares, stocks, futures and options, mutual, bond and many more.
Key Features:
- Full-Service Brokerage: Besides the regular trading services, Angel One offers advisory services, online portfolio management besides research reports.
- Digital Transformation: The Angel One App is quite user-friendly for trading with facilities like ARQ Prime, which is an investment engine based on certain set rules and comes up with the best stock to invest.
- Extensive Research: It has daily reports and companies and stock recommendations, among other features, which differentiates it from other brokers.
Why Choose Angel One?
Deployed for the investors, who like a synergistic combination of personal touch and digital interface, Angel One offers one of the best propositions to cater to both.
5. ICICI Direct
Overview:
ICICI Direct is a technical terminal of ICICI Securities which is a part of ICICI Bank Ltd one of the premier Private Sector Banks in India. ICICI Direct also has a number of full-service brokerage houses that offer several products in the likes of equities, derivatives, mutual funds, and fixed deposit insurance among others.
Key Features:
- Integrated 3-in-1 Account: This is because ICICI Direct presents a 3-in-1 trading account where a trading , demat and bank account is also integrated into it.
- Research and Advisory: Some of the service offerings include research reports, investment tips and advice among others.
- Advanced Trading Platforms: They have a variety of traders’ platforms; Markets App, ICICI Direct Trade Racer, and web trading, which suits various classes of investors.
Why Choose ICICI Direct?
For every investor looking for a full-service broker with strong research, advisory and offers 3-in-1 trading account ICICI Direct is an ideal fit.
6. HDFC Securities
Overview:
HDFC Securities is a HDFC group venture and it is specifically one of the most popular full service brokers in India possessing all the features needed by the investors. It has large market share and maximum utilization of the capability of the parent company branding.
Key Features:
- 3-in-1 Account Integration: Like, ICICIDirect, HDFC securities also provides integrated trading and demat account including 3-in-1 trading account service for the ease of transferring funds.
- Research and Advisory Services: It operates as a stock broker which offers research reports, market information and investment advisory services.
- Robust Trading Platforms: HDFC Securities has several trading platforms available for trading; web platform, Mobile application as well as Blink – for high-speed trading.
Why Choose HDFC Securities?
For those who value good brand image, extensive research and integrated banking services, HDFC Securities is the perfect bet of a full service broker.
7. Kotak Securities
Overview:
Kotak Securities Limited is a full service broking company and a subsidiary of Kotak Mahindra Bank which was started in the year 1994 currently working in product segments consisting of Equities, Derivatives, Mutual fund and Portfolio Management Services.
Key Features:
- Free Intraday Trading: Kotak Securities is free during intraday and In F&O segment, it charges only Rs. 20 per order.
- Comprehensive Research: Based on a discussion with the broker, the broker is equipped with research reports, investment recommendation and portfolio management services.
- Multiple Trading Platforms: Kotak Securities provides trading terminals which are available in mobile, application, and web based versions namely the Kotak Stock Trader App, KEAT Pro X and web trading terminal.
- Kotak Neo Service: It provides Brokerage free services to new traders in both delivery and F&O segment.
Why Choose Kotak Securities?
With Kotak Securities, investors can find all the basic services in one place where they can invest at a reasonable cost while getting comprehensive research assistance.
8. Sharekhan
Overview:
Sharekhan is a BNP Paribas off-shore company which acts as one of the largest full service brokerage houses in India. established in 2000, it deals with various products such as equities, derivatives, mutual funds and investment portfolio.
Key Features:
- Extensive Branch Network: Sharekhan also has established a significant offline network with many branches throughout the country for the benefit of the investors who prefer doing business physically.
- Research and Education: They provide research notes, trading tips along with Sharekhan Classroom, an investment gateway for people.
- Robust Trading Platforms: TradeTiger, Sharekhan’s trading terminal is reputed among the active traders and investors as it provides efficient speed along with various features.
Why Choose Sharekhan?
Sharekhan can be recommended for the investors who prefer contacting a full-service broker with the significant offline network, access to the newsletter and the educational materials.
9. Motilal Oswal
Overview:
Motilal Oswal Financial Services is a leading full-service broking company in India which is particularly famous for their depth research and a plethora of investment products. Established in 1987, the firm has focused on individual attention and completely research-based solutions.
Key Features:
- Research Excellence: Motilal Oswal is one of India’s most trusted stock broking companies which is famous for its research notes and investment plans.
- Portfolio Management Services: He introduces a high quality portfolio management service for high net worth individuals (HNIs).
- Multiple Trading Platforms: Mo is offering several trading platforms, namely the MO Investor application and the MO Trader application to suit the needs of the different traders.
Why Choose Motilal Oswal?
Motilal Oswal is good for those investors who are looking for a brokerage firm who emphasizes on the research based approach to investing and who offer both the investment products and services that target specific needs of customers.
10. Axis Direct
Overview:
Axis Direct: It is the stock broking division of Axis Bank which provides Investing services such as Stock, Derivatives, mutual funds, IPO etc. Some other features that have made it gain a competitive advantage include offering user-friendly platforms and undertaking research services.
Key Features:
- 3-in-1 Account Advantage: Axis Direct has a bundled trading account, dematerialized account and bank account called as 3 – in – 1 account.
- Comprehensive Research: The broker gives a list of available stocks, market outlook, possible stock to buy and how to invest depending on the account type.
- Multiple Platforms: For a different category of investors, Axis Direct has a website facility, mobile application and lastly a top-notch trading desk.
Why Choose Axis Direct ?
It is particularly appropriate for the Investors who seek a 3-in-1 account service besides research support and user-friendly trading platforms.
Comparison of Top Stock Brokers in India
| BROKER | TYPE | SEGMENT | Zero Brokerage |
| GROWW | Discount Broker | Equity, Futures, Options | Only Cash |
| ZERODHA | Discount Broker | Equity, Commodity, Currency, Options, Futures | Only Cash |
| UPSTOX | Discount Broker | Equity, Commodity, Currency, Options, Futures | Only Cash |
| ANGELONE | Full Service Broker | Equity, Commodity, Currency, Options, Futures | Only Cash |
| ICICI DIRECT | Full Service Broker | Equity, Commodity, Currency, Options, Futures | Only Cash |
| HDFC SECURITIES | Full Service Broker | Equity, Commodity, Currency, Options, Futures | Only Cash |
| KOTAK SECURITIES | Full Service Broker | Equity, Commodity, Currency, Options, Futures | Cash & FnO in NEO |
| SHAREKHAN | Full Service Broker | Equity, Commodity, Currency, Options, Futures | Only Cash |
| MOTILAL OSWAL | Full Service Broker | Equity, Commodity, Currency, Options, Futures | Only Cash |
| AXIS DIRECT | Full Service Broker | Equity, Commodity, Currency, Options, Futures | Only Cash |
There are many brokers available in India providing Top notch services in Stock market or any other financial market. Top 10 Stock Brokers In India It completely depends upon the traders or investors to choose according to their convenience and requirements. There are brokers like Kotak Securities who provide services like Kotak Neo which gives a brokerage free facility for new age traders or beginners. And at the same time there are brokers like zerodha and upstox charging money for every possible service to give hassle free experience. It is recommended that traders must look through different brokers before choosing one.
Who is India’s No. 1 stock Broker?
According to the active client base Grow is the biggest Broker in India .
Which is the Zero Brokerage broker in India?
There are many brokers like Zerodha, Angel One etc., takes zero brokerage on delivery trades but at the same time Brokers like Kotak Securities which provide services like Kotak Neo where they do not charge brokerage on F&O as well for beginners tarder.
What is the role of a stock broker?
When a retail trader places an order it is the broker who sends it to the exchange and executes the trade and settles the order. To provide all these services they charge a premium called Brokerage.
Can I have two Demat Accounts?
There is no are no specific limitations on having multiple Demat Account. You can have it through multiple brokers but you must link it with your Permanent Account Number (PAN) so that data can be fetched by central and SEBI.
