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In Trading Account

Top 10 Stock Brokers in India

September 15, 2022 9 Mins Read
Home > Top 10 Stock Brokers in India
Top 10 Stock Brokers in India
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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.

Table of Contents

  • Who is a Stock Broker?
  • List of the top 10 stock brokers in India
    • Zerodha
    • ICICI Direct
    • HDFC Securities
    • Angel Broking
    • India Infoline (IIFL)
    • Kotak Securities
    • Motilal Oswal
    • 5Paisa
    • Sharekhan
    • Paytm Money
  • Conclusion
  • About Us
  • Frequently Asked Questions (FAQs):

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:
BasisDescription
Long Term Investment/ Delivery Brokerage ChargesRS. 0
Mutual fund InvestmentsZero Brokerage
Intraday Charges0.01% or RS. 20 per executed trade, whichever is less
Account Opening ChargesRS. 200, additional RS. 100 for commodity account
Annual Maintenance ChargesRS. 300
ServicesEquity, Derivatives, Currency, Mutual Funds, and Commodities

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:
BasisDescription
Delivery Brokerage Charges0.15%-0.25%
Intraday Brokerage ChargesRS. 15 per trade
Futures/ Options/ Currency/ Commodity ChargesRS. 20 per trade
Margin Funding8.9% per annum
ServicesEquity, Derivatives, Currency, Mutual Funds, IPOs, FD, Bonds, NCDs, and ETFs.

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:
BasisDescription
Delivery Charges0.07%-0.32% on transaction value
Intraday Charges0.40%-0.15% on transaction value
Account Opening ChargesRS. 999
Annual Maintenance ChargesRS. 750 from second year onwards
ServicesEquity, Derivatives, Currency, Mutual Funds, IPOs, FD, Bonds, NCDs, ETFs, and Insurance

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:
BasisDescription
Delivery ChargesRS. 0
Intraday TradingFlat RS. 20 per trade
Equity F&OFlat RS. 20 per trade
Currency F&OFlat RS. 20 per trade
Commodity F&OFlat RS. 20 per trade

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:
BasisDescription
Delivery Charges0.10%-0.25%
Intraday Trading0.025%-0.05% (on both sides)
Futures Charges0.025%-0.05% (on both sides)
Options ChargesRS. 10-50 per lot
Account Opening ChargesRS. 250 (currently waived off)
Annual Maintenance ChargesRS. 250 (free for first year)

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:
BasisDescription
Delivery ChargesRS. 0
Intraday TradingRS. 0
Futures ChargesRS. 20 per trade
Options ChargesRS. 20 per trade
MIS & Super Multiple (Cover Order)RS. 20 per order

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:
BasisDescription
Delivery Charges0.50% on transaction value
Intraday Trading0.05% on transaction value ( both side)
Account Opening ChargesRS. 0
Annual Maintenance ChargesRS. 400 (from 2nd year onwards)

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:
BasisDescription
Delivery ChargesRS. 20 per trade
Intraday TradingRS. 20 per trade
Equity FuturesRS. 20 per trade
Equity OptionsRS. 20 per trade
Currency FuturesRS. 20 per trade
Currency OptionsRS. 20 per trade
Account Opening ChargesFree
Annual Maintenance ChargesRS. 45 per month, only for months when you trade

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:
BasisDescription
Delivery Brokerage Charges0.5% on both sides
Intraday Brokerage Charges0.1% on both sides
Futures Brokerage Charges0.10% on first leg, 0.02% on second leg, if it is squared on the same day
Options Brokerage ChargesRS. 50 per lot or 2.5% on the premium
Account Opening ChargesClassic Account: RS. 750, Trade Tiger Account: RS. 1000
Annual Maintenance ChargesRS. 400, second year onwards

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:
BasisDescription
Delivery Brokerage ChargesRS. 0
Intraday Brokerage ChargesRS. 10 per trade
Futures and Options ChargesRS. 10 per trade
Account Opening ChargesRS. 200- One time Digital KYC + RS. 300- Account Opening Charges
Annual Maintenance ChargesRS. 0

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.

About Us

Trading Fuel is our website for blogs where we give you information about finance, economics, stock markets, intraday trading, and technical analysis. Stay tuned with us for more such blogs.

Frequently Asked Questions (FAQs):

Q#1) Who is the no. 1 stock broker in India? 

Answer: Zerodha is the No. 1 stock broker in India.

Q#2) Which stock broker gives the best stock tips?

Answer: Angel one gives the best stock tips.

Q#3) Which broker is better than Zerodha?

Answer: Angel Broking is better than Zerodha.

Q#4) Which broker gives you the highest margin?

Answer: Astha Trade gives you the highest margin facility with 40 times the margin.

Q#5) Which stock broker is best for beginners in India?

Answer: Angel One is the best broker for beginners in India.

Author Priyanka Jain

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