Top 10 Stock Brokers in India

To open a demat account, you will need a good stock broker.

A stock broker will help you with all the necessities regarding the stock market.

This blog will give you a list of the best stock brokers in the country.

Who is a Stock Broker?

• A stock broker is a financial professional who will execute orders in the market on behalf of clients.
• A stock broker can be a registered representative (RR) or an investment advisor.
• Many stock brokers work for a brokerage firm and then handle transactions for a number of individuals as well as institutional customers.

List of the top 10 stock brokers in India

The following is the list of the top 10 stock brokers in India:

Zerodha

• Zerodha is the biggest as well as the best stockbroker in India, with over 4 million clients.
• They make up more than 15% of the daily trading volumes on the Indian Stock Exchange.
• The firm was started in 2010 with the concept of a discount brokerage in the equity market with no brokerage model for investors.
• The firm also charges a flat Rs. 20 per trade brokerage fee for intraday and other trades.
• After competing with the big players like HDFC and ICICI, Zerodha still managed to remain the number one discount broker in the country.
• The main features of Zerodha are as follows:

Also read: Zerodha Review – Pros and Cons of Zerodha

ICICI Direct

• ICICI Direct which is a part of ICICI Securities, ranks number one in the full-service stockbrokers list.
• The firm is led by the leading private financial services provider, ICICI Group, which came into existence in 1994.
• The best features on which the firm relies are the high-quality as well as customised services along with the 3-in-1 account facility.
• Through this, the firm was able to gather a vast number of active clients.
• The firm was number one in terms of active customers until 2019 when the top discounting firm, Zerodha, toppled with a client base of more than 2 million.

• ICICI Direct which is a part of ICICI Securities, ranks number one in the full-service stockbrokers list.
• The firm is led by the leading private financial services provider, ICICI Group, which came into existence in 1994.
• The best features on which the firm relies are the high-quality as well as customised services along with the 3-in-1 account facility.
• Through this, the firm was able to gather a vast number of active clients.
• The firm was number one in terms of active customers until 2019 when the top discounting firm, Zerodha, toppled with a client base of more than 2 million.
• However, even today, ICICI Direct is the most visited trading platform in the country.
• The main features of ICICI Direct are as follows:

HDFC Securities

• HDFC Securities Limited is a subsidiary of the largest private sector bank, HDFC.
• It has had a huge online as well as offline presence and existence in the market for the last two decades.
• The company is also the topmost full-service stockbroker in the country and has its headquarters in Mumbai.
• The company has 270 offices and branches across the country.
• The company also offers a wide range of stockbroking services along with the distribution of financial products.
• The main features of HDFC Securities are as follows:

Also read: HDFC Securities Review

Angel Broking

• Angel Broking was incorporated in 1987 and is a big brand.
• The firm has over 30 years of experience in the broking world and also has more than 1 million happy customers.
• They offer trading facilities in equity, F&O, commodities, and currencies across BSE, NSE, NCDEX, and MCX.
• The firm initially had the percentage brokerage scheme, but it recently changed its plan as of November 1, 2019.
• After Zerodha came, the firm changed from percentage brokerage to flat rates so as to compete with other discount brokers.
• The flat brokerage plan here is Angel iTrade PRIME, where delivery trading is free.
• The main features of Angel Broking are as follows:

India Infoline (IIFL)

• India Infoline (IIFL) was incorporated in 1995 and has a wide network of over 4000 plus branches that are spread over 900+ cities across India.
• It is also a parent company of 5Paisa, which is a discount broker.
• The firm is a well-trusted financial service provider in India and will offer fast online trading along with research-based advisory services.
• The main features of India Infoline are as follows:

Kotak Securities

• Kotak Securities Limited is a subsidiary of Kotak Mahindra Bank and was founded in 1994.
• The firm was among the very few brokers who provided the 3-in-1 account facility.
• The firm tends to be the first one to offer Margin Finance for online trading, IPO and mutual fund investments over the phone, and SMS alerts in the demat account.
• With these innovations and using advanced technologies as well, the firm has been renowned and is making the trading experience smoother for its clients.
• The main features of Kotak Securities are as follows:

Don’t miss to check: Kotak Securities Review

Motilal Oswal

• Motilal Oswal is one of the most reputable stock brokers in India with over 20+ years of experience in trading and investment.
• The firm is spread over 500+ cities and has over 2200+ business locations.
• They are not only in the brokerage business, but have expanded into many new areas such as private equity, investment banking, and portfolio management services, and so on.

• Motilal Oswal is one of the most reputable stock brokers in India with over 20+ years of experience in trading and investment.
• The firm is spread over 500+ cities and has over 2200+ business locations.
• They are not only in the brokerage business, but have expanded into many new areas such as private equity, investment banking, and portfolio management services, and so on.
• The main features of Motilal Oswal are as follows:

5Paisa

• 5Paisa is a part of India Infoline (IIFL).
• The firm offers cheap stock brokerage in India.
• IIFL launched 5Paisa so as to offer a lower brokerage platform for its clients and also compete with the fast-growing discount brokerage industry.
• The main features of 5Paisa are as follows:

Sharekhan

• Sharekhan is one of the top three stock brokers in the country with a customer base of over 2 million.
• The firm is the first stockbroker in India to offer an online trading website.
• This is the finest investment platform that provides a wide range of products and services, and its customer-centric account type has enabled investors and traders to have the best plans as per their needs.
• The main features of Sharekhan are as follows:

You can also read: Sharekhan Review

Paytm Money

• Paytm has received approval from SEBI in 2019 so as to enter the discount stockbroking segment.
• Paytm planned to enter stock broking and this decision has turned out to be very fruitful over the years.
• The main reason behind this is that, both NSDL as well as CDSL saw an addition of 2–12 lakh new demat accounts.
• The main features of Paytm Money are as follows:

Conclusion

We hope that the above blog gives you an idea of the best stock brokers in the country. We hope that you can select the best brokers for yourself as well.

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