Investment is a part of everyday life. We invest in our family, friends, and education. Therefore, stockbroker, sharebroker, or investment broker are not unheard terms nowadays. Every one of us wants to have a kind of insurance protection for our shares and the money that we put into the stock market which is most precious to us to be with the best stockbroker in India to avoid unnecessary risk.
A stockbroker is a type of company or investment advisor that works for the benefit of their clients by providing relevant and professional help followed by stock purchase and sale.
This service is usually a paid service collected under commission, price spread, or hourly fee. Some of the top stock brokers in India have zero brokerage which is the reason why they are considered the best stock broker.
Financial stability has always been a preference to all, be it someone with a family or a spinster. Money has been and always will be at the top of the ecosystem of life and a universal factor and that remains the focus to find the best stock broker in India.
People are growing anxious day by day to find the best trading platforms in India to install the best trading accounts for their stock market fundings.
The Security and Exchange Board of India Act, 1992 is the governor of the stockbroker in the Indian market.
Currently, there are more than three thousand stock broker firms in India which comprise of the best stockbrokers working full time and all brokers in the country must be registered by the governing body.
A balanced ecosystem of the stock exchange is maintained by the National Stock Exchange of India and the Bombay Stock Exchange so that decorum among working brokers is maintained.
Two categories of Stockbrokers in India are:
1. Full-service Brokers – Those who have a variety of products and services with multiple advisory teams for support of the customer.
2. Discount Stock Brokers – These are online brokers who only offer stock and trading-related services. Advisory and other tools are not included in the service.
It is seen that the best stockbrokers are from both of the categories so there’s no reason to point to any one category as superior.
Compare 12 Best Stock Brokers in India 2024:
| Sr.No | Broker Name | Account Opening Charges | Account Maintenance Charges | Brokerage Charges |
| Trending | Paytm Money (Download App) | ₹100 | Free | Rs. 0 (Free) per trade |
| 1 | Zerodha (Open Account) | ₹200 | ₹300 per year | ₹20 per executed order |
| 2 | Upstox (Open Account) | Free | Free | ₹20 per executed order |
| 3 | Angel One (Open Account) | Free | ₹240 per year | ₹20 per executed order |
| 4. | 5Paisa (Open Account) | Free | ₹300 per year | ₹10 per executed order |
| 5 | HDFC Securities | ₹0 | ₹750 per year | ₹25 per executed order |
| 6 | Kotak Securities | ₹0 | ₹600 per year | ₹21 per executed order |
| 7 | Sharekhan | ₹0 | ₹400 per year | ₹25 per executed order |
| 8 | Motilal Oswal | ₹0 | ₹199 per year | ₹30 per executed order |
| 9 | Axis Direct | ₹0 | ₹650 per year, free for first year | ₹20 per executed order |
| 10 | SBICap Securities | ₹850 | ₹0 per year | ₹20 per executed order |
| 11 | Geojit BNP Paribas | ₹0 | ₹700 per year | 0.03% |
| 12 | ICICI Direct | ₹0 | ₹300 per year | ₹20 per executed order |
List of 12 Best Stock Brokers in India 2024:
We are going to discuss in depth some of the best stock brokers in India and the reason why we need to mention the best broker in India is that when choosing the right firm it is essential to know the difference between the stock brokers so that one can choose the best stock broker in India by comparing on different grounds and then deciding on their own whether the company is worthy of the best broker in India title or not.
1. Zerodha:
Zerodha is a discount broker often regarded as the first and the most successful one in the country.
Some even prefer calling it the No 1 broker in India. Nithin Kamath, the founder of the company started in 2010 has managed to make the company one of the prominent and popular names among the best discount stockbrokers in India.
In terms of the customer base, Zerodha has the highest number of customers registered with the firm which makes it most appealing to other customers because it implies the quality of products and is marked as the best stock broker in India.
Charges & Fee:
- Equity Delivery Trading – Free
- Equity Intraday Trading – Rs. 20/ order
- Commodity Trading – Rs. 20/order
- Minimum Brokerage – Free
- Demat AMC Charges – Rs. 300/annum
- Trading AMC Charges – Free
The charge-free equity delivery has been the most prominent policy of the firm since December 2015. Hence, there is no brokerage charge which stands out and defines Zerodha as the best broker in India as well as a Discount Broker.
2. Upstox:
Upstox is a discount broker private company that has its headquarters in Mumbai. The company started under the name of RKSV and later was changed to Upstox. Being one of the best stock brokers in India it offers a variety of retail products and services in the stock market.
The firm was established in the year 2011, by Raghu Kuma, Ravi Kumar, and Shrinivas Vishwanath and in lesser time has become the best stockbroker in India. The services are usually low costing and the trading is offered upon various categories like equities, currency, futures, etc.
The trading platform by Upstox is designed to provide customers with a user-friendly and seamless experience with their hassle-free services makes them the best discount broker in India.
Charges & Fee:
- Equity Delivery Trading – Free
- Equity Intraday Trading – Rs. 20
- Commodity Options Trading – Rs.20
- Minimum Brokerage – Rs. 20
- Demat AMC Charges – Rs. 150/ annum
- Trading AMC Charges – Free
The cost of opening a trading account with Upstox is nill and that for trade-in equity delivery as well. Therefore, the company is one of the top stock brokers in India.
3. Angel One:
Angel One is a private company-type full-service discount broker that has its name among one of the best stock market brokers in India. The firm was founded in the year 1987 by its founder Dinesh Thakur.
The strong points of the firm are its high rating in terms of experience in the stock business as well as a high-quality advisory team that continuously helps customers with stock trading and other modules.
Angel Broking is registered with CDSL as a Depository participant. Also, the firm is legally a part of the Bombay Stock Exchange and National Stock Exchange. The customer base of the firm is approx 1 million with offices in a thousand cities and clearly, the company is among the best stock brokers in India.
Charges & Fee:
- Equity Delivery Trading – Free
- Equity Intraday Trading – Rs. 20/order
- Commodity Options Trading – Rs. 20/ order
- Minimum Brokerage – Rs. 20/ order
- Demat AMC Charges – Free/ Rs.300
- Trading AMC Charges – Free
The firm has a rate of Rs. 20/ order for all services but equity delivery. This service is termed as Angel i-Trade Prime. Angel Broking is yet again one of the best stock brokers in India.
4. 5Paisa:
5Paisa is a public sector discount broker in India that has become one of the best discount stock brokers in India in no time. 5Paisa was established in the year 2016 by Prakash Gagdani and within just a few years the firm has grown to be a popular name among the stockbroking companies.
The reason behind this is mainly the low brokerage charges followed by quality service. It has recorded more than 7,500 customers. The firm is also dedicated to starting with funding loans and developing new products such as IPOs, NCDs etc.
However, it doesn’t have branches and offices in different parts of the world other than the one in Mumbai still, has managed to become the best broker in India.
Charges & Fees:
- Equity Delivery Trading – Free
- Equity Intraday Trading – Rs. 20/order
- Commodity Options Trading – Rs.20/order
- Minimum Brokerage – Rs.10
- Demat AMC Charges – Rs. 400/ annum
- Trading AMC Charges – Free
Looking at the above charges and fees, it is quite certain that the minimum brokerage charge has helped them in becoming the best stock broker in India.
5. HDFC Securities:
HDFC Securities is a product of HDFC Bank which is solely devoted to the trading business and is clearly one of the best full-service brokers in India. It offers online trading services even through mobile phones and has become of the best share brokers.
It is a public sector full-service broker commencing from the year 2000. One of the design features of HDFCSecurities is the availability of the 3-in-one account which is the trading account, Demat account, and bank account all combined in one single account.
Being the best brokerage firm provides a variety of products and services in terms of the stock market such as Day trading, Cash-n-Carry, online IPO investment, etc.
The brand value of HDFC Bank does affect the popularity of HDFC Securities by proving trust and dependency among customers which motivated the firm to reach the best broker position.
Charges & Fees:
- Equity Delivery Trading – 0.505
- Equity Intraday Trading – 0.05%
- Commodity Options Trading – Free
- Minimum Brokerage – Rs. 25
- Demat AMC Charges – Rs. 300/ annum
- Trading AMC Charges – Rs. 500/ annum
However, sometimes the brokerage rate for the services differs from the given rate depending on the type of service. The amount users can store as margin money is Rs. 25,000 at all times. But all in all the firm is a success and best share broker in India.
6. Kotak Securities:
Kotak Securities is a full-service brokerage firm with a label of being unconventional with its services and products. The firm has showcased new-age technology and innovative ideas when it comes to stock broking modules.
The company began its work in the year 1994 and is rising to become one of the best stock brokers in India. It is undeniable that the reach of Kotak securities is far stretched due to their 1200 branches all over the country and a customer base of over six lakhs. In terms of innovative ideas and the use of technology.
Kotak Securities gave birth to the idea of a mobile tracking app for all trading investments which was creative and grasped much attention in the market and so the firm was famously termed as the top broker in India.
They launched a Mobile Stock Trading App that helped customers track their recent and previous investments with just by a few clicks. Along with this they also introduce the SMS alert service for customer reminders. Their vast no. of services has helped them in becoming the best trading broker in India.
Charges & Fees:
- Equity Delivery Trading – For Standard plan – 0.49%, Free Intraday plan – 0.49%
- Equity Intraday Trading – For standard plan – 0.049%, Free Intraday plan – Rs. 999/ annum
- Commodity Options Trading – For standard plan- Free, Free Intraday plan – FRee
- Minimum Brokerage – For standard plan- Rs. 21/trade, Free Intraday plan – Rs. 21 per day
- Demat AMC Charges- for standard plan- Free/Rs.300, Free Intraday plan – Free/Rs.300
- Trading AMC Charges – For standard plan – Rs. 500/ annum, for Free Intraday plan – Free
7. Sharekhan:
Sharekhan is one of the best full-service brokers in India. It is a public-type full-service broker which is considered to be the best online trading. It is often said that Sharekhan primarily spread the whole concept of online trading in the country.
Hence, is considered to be the top full-service broker in the country. The firm was established in the year 2000 by its founder Shripal Morakhia and in no time became the best trading broker in India.
Today Sharekhan has a customer base of more than 1.4 million which contributes comprehensively to the success of the firm. It has 1850 offices in the country along with some international brands.
Some of the investment categories are IPOs, mutual funds, Demat accounts, etc which adds to the inclusion of the firm in the best trading broker in India.
Charges & Fees:
- Equity Delivery Trading – 0.5%
- Equity Intraday Trading – 0.1%
- Commodity Trading – 0.1%
- Demat AMC Charges – Rs. 300/ annum
- Trading AMC Charges – Free
One unique feature of the firm is that offers both Pre-Paid and Post-Paid Plans. The brokerage for these plans is minimum based on the service and the margin amount and the firm is counted among the best stockbrokers.
8. Motilal Oswal:
Motilal Oswal is a public domain full-service broker based in Mumbai. The firm was established in the year 1987 by its founders Motilal Oswal and Raamdeo Agrawal. The services are all across Private Health, Management, Investment Banking, Home Finance, etc and this versatility makes the firm.
The client base of the firm is also from corporate, financial, investors, and others. The reach of the firm is also far stretched with 500 cities and over 10 lakh active customers.
The firm is famous for its high-quality research and advisory team and the results have always been correct and satisfying. This is one of the prominent reasons why Motilal Oswal is among the best stock brokers in India.
Charges & Fee:
- Equity DElivery Trading – 0.50%
- Equity Intraday Trading – 0.05%
- Commodity Options Trading – 0.05%
- Minimum Brokerage – Based on the % of Transaction.
- Demat AMC Charges – Free/ Rs. 300/ annum
- Trading AMC Charges – Free
In terms of the Margin money that has to be maintained by the user at all times, the sum is Rs. 10,000 which is quite low compared to other public sector firms and thus the company is undoubtedly the best stock broker in India.
9. Axis Direct:
Axis Direct is a public company-type full-service broker in India. The firm is a product of Axis Bank Ltd. working in retail management. The firm was established in the year 2011 by its founder Arun Thukral and since then the firm has developed a unique approach in becoming one of the best stock brokers in India.
Although Axis Direct doesn’t have an online presence like other trading houses still, the firm has a reach with 75 branch offices all over the country which helps in reaching customers. This is the reason that has helped them in becoming the best broker.
A reason for this could be the popularity of the brand name attached to it. The products and services of the firm include IPO, Currency Trading, Mutual Funds, NCDs, etc.
Asix Direct also allows its customers to choose the 3-in-one account option where they can link all bank, trading, and Demat accounts in one single account that can be used for all purposes and this feature highlighted the firm making it best trading broker in India.
Charges & Fees:
- Equity Delivery Trading – 0.20% – 0.60%
- Equity Intraday Trading – 0.03% – 0.05%
- Commodity Options Trading – Free
- Minimum Brokerage – Based on % of the transaction
- Demat AMC Charges – Rs. 650/ annum
- Trading AMC Charges – Free
The brokerage rate of Axis Direct is initially a bit high which is reduced to a flat brokerage rate. The Margin money for the users is Rs. 25,000 which is to be maintained throughout to carry trading services. Therefore, Axis Direct is counted among the top stock brokers.
10. SBICap Securities:
SBICap Securities is a product of India’s largest and one of the best stockbrokers in India. SBICap Securities initially known as SBI Capital Securities is a public company-type full-service broker.
The firm was established in the year 2006 by its founder Arun Mehta and since then it has captured the attention of the market by becoming the best stock broker in India.
A high amount of it’ retail services is from non-residential and domestic investors. The customer base of the firm is due to its many branches that help customers reach out more comfortably.
Also, the name of the most trusted bank attached to the firm plays a vital role in the success of SBICap Securities. Some of its products are IPOs, ETFs, Bonds, Fixed deposits, Mutual funds, etc making the firm one of the best full-service stock brokers.
Charges & Fees:
- Equity Delivery Trading – 0.50%
- Equity Intraday Trading – 0.08%
- Commodity Options Trading – Free
- Minimum Brokerage – Rs. 10/ order
- Demat AMC Charges – Rs. 400/ annum
- Trading AMC Charges – Free
The brokerage rate for SBICap Securities can differ and vary from service to service and the Margin money for users is set to be Rs.25,000 to continue trading events. Overall the firm is one of the best stock brokers in India.
11. Geojit BNP Paribas:
Geojit BNP Paribas Group is a full-service broker house in the public domain and offers services mostly in the southern region of the country. The firm offers services in three sectors.
One is Relationship management, the second is advisory and trading details and the third is Educational training.
The retail firm has a wide customer base of 987,000 plus with a pan India cover of 479 branch offices. In addition to the physical presence of the firm, it also offers a telephone helpline service which is designed to serve the needs of the customers.
And this innovation makes the firm best stock broker in India. Some of the products by the firm are Mutual funds, Stockbroking, Currency Futures, Equities etc
Charges & Fees:
- Equity Delivery Trading – 0.30%
- Equity Intraday Trading – 0.03%
- Commodity Options Trading – Free
- Minimum Brokerage – Rs. 15\ order
- Demat AMC Charges – Rs.400
- Trading AMC Charges – Free
And so there is no doubt why Geojit is considered in the list of best stock brokers.
12. ICICI Direct:
The brand value of ICICI Bank follows through its retail trading business which is ICICI Direct. It is a public full-service broker-type firm established in 1994.
With more than 20,00,000 active customers associated with ICICI Direct, it has come under the list of best stock market brokers. Some of the famous products offered by the firm are Mutual Funds & IPO, Online equity, Bond, Fixed Deposit, Home Loans etc.
One of the unique features that makes them the best trading broker is that it offers a 3 in one account which is used in retail stock market investment.
The accessibility of the firm is undeniably large with severals of branch officers all over the country which puts the company on the top of the stock broker in India list.
Charges & Fee:
- Delivery Trading – 0.55%
- Intraday Trading – 0.03%-0.055
- Equity Options Trading – Rs. 35 – Rs. 95 per order
- Minimum Brokerage – Rs. 35/ trade
- Demat AMC Charges – Rs. 500/ annum
- Trading AMC Charges – Rs. 975/ annum
Traders and investors need to have a minimum of Rs. 20,000 at all times to have effortless trading experience. Overall the placement of the firm among the best stock brokers in India is no surprise.
3 Best Online Trading Accounts in India 2024:
To begin with, the best stockbroker in India should also have the best trading accounts in India. The difference between a Trading account and a Demat account. A trading account is the one which is used for the purchase and sale of orders in the stock market.
While a Demat account is simply a digitised version of the account which also acts like a bank where one can store, transfer, sell, and buy shares from the stock market. A trading account is purposely used for trading events in the market and long-term investments.
While there is a difference, still, both accounts make the stockbroking firm count among the best brokers in India. However, for both trading and Demat accounts a single account is valid. Let us have a look at the best trading accounts in India provided by the best share broker-
1. Zerodha:
Zerodha is among the best discount stockbroker in India offering some of the best deals on best trading accounts. Like the name, it offers a zero brokerage fee for opening a trading account for all kinds of investments and this plays a vital role in the firm becoming the top list of stockbrokers.
- Trading account opening charge – Rs.0
- Trading Maintenance charge – Rs. 0
- Demat account opening charge – Rs. 200 (one time )
- Demat Maintenance charge – Rs. 300/ annum
Thus, Zerodha is among the best brokers for demat and trading accounts.
2. Upstox:
Upstox is yet again the best discount broker and has one of the best trading accounts. Some of the advantages of the firm are that there is no commission fee attached to the delivery trades and personality like Ratan Tata is in connection to the company which eventually increases the market value of the firm and counts as one of the best share trading brokers.
- Trading account opening charge – Rs. 0
- Trading Maintenance charge is – Rs. 0
- Demat account opening charge – Rs. 0
- Demat Maintenance charge is – Rs. 0
And that is why Upstox is at the top of the list of India’s best trading brokers.
3. 5Paisa:
A famous discount broker like 5Paisa offers the best deals in terms of trading accounts. It has gained quick popularity as the top stock broker.
The best part of the deal is that they avail free of cost research and advisory services to their customers which is of high value.
Some of the best brokers are focused on providing the best research team.
There are three subscription plans by 5Paisa, Optimum, Platinum, and Titanium Plan. And the opening charges for both Trading and Demat accounts are free of cost making the firm best stock trading broker.
- Trading account opening charge – Rs. 0
- Trading Maintenance charge is – Rs. 0
- Demat account opening charge is – Rs. 0
- Demat Maintenance charge is – Rs. 300/annum
5 Steps To Choosing the Best Stockbroker for Trading:
1. Quality Research item:
Having a strong research team on board is always a must-have for being the best stock broker in India.
What a strong quality research team implies is not just having a brand value to itself but along with the brand popularity, it is equally and more crucial to have a high-quality research team that can produce relevant data for clients to improve their investment chances.
To be the best share broker in India one should be equipped with providing reliable information regarding market trends, economic reports, IPOs, and other data so that the clients can invest accordingly over the past few years it has been seen that some of the stock brokers in India are focusing on improving their research and advisory team.
Also, the information should be from a genuine source.
Some of the stock brokers are India Infoline, Motilal Oswal, ICICI direct, etc. and this is the very first point one should look for before choosing the best share broker in India.
2. Brokerage & Margin Rate:
As mentioned, the stockbroker charges some amount of money for their provided services. This amount is due to be paid by the customer availing services. It could be in any desired form depending on the policy of the firm.
However, initially, this amount used to be large and customers were supposed to pay a great sum of money as commission or fee which affected their investment amount.
But in the current scenario, the brokerage charges and the margin fee are reduced significantly and usually the amount paid by customers as a brokerage is 1/5th of the total amount and these firms are considered as the best stock brokers.
Some of the best stock brokers in India in terms of low brokerage charges are Zerodha, Angel Broking, 5Paisa, etc.
3. Products & Services:
For any amount of fee that a client pays for, it is essential to know the products and services which are offered by the stockbroker firm.
Due to less brokerage charges, discount brokers fail to offer some of the services that are available at a full charge but are still a significant part of the best stockbroker in India list. Therefore, it is crucial to be cognizant of the products and services that any stockbroker firm offers before investing any money into it.
It is often seen that full-service brokers have the complete package of services for the clients which discount brokers don’t have.
So it fairly depends on the individual on what he/she prefers to have. Some of the top stock brokers in India in terms of best products and services are Zerodha, Angel Broking, India Infoline, etc.
4. Trading Platforms:
It is one of the most important features to be considered while choosing the best stock broker in India. Software provided by the broker with errors and low speed is completely useless because it won’t provide you with the best trading experience and these types of faults are not seen in the best share broker.
Tools offered by the providers such as analytical tools, charts, watch lists, etc should be present to become the best broker in India.
Lastly, the trading platform should be user-friendly so that there’s no issue accessing the platform. Along with this, a mobile tracking app is also useful if given. Some of the best stock brokers in India for trading platforms are Zerodha, IIFL, Sharekhan, etc
5. Others:
Other factors and steps to keep in mind before choosing the best stock broker in India are to look for a firm that has the most or high-quality experience in the field. Experience brings a lot of confidence in both the broker and the client and thus is necessary to go for the one with the highest quality of experience irrespective of the cost.
Along with this, one should also look for decent customer support in the best brokerage firm because you don’t want your broker to be unprofessional and immature when it comes to stock investment.
Therefore, following these points can help in shortlisting the best stock broker in India which is best for your needs.
FAQs:
Which stockbroker is best for the beginners of India?
1. Zerodha
2. Upstox
3. 5Paisa
4. TradeSmart
5. SAMCO
Is Upstox the best stock broker in India?
Yes, it is the best stockbroker in India. They Provide Zero Brokerage charges in segments such as Equities, F&O, Currency, and Commodity markets in India. According to the choice of the traders, it has ranked as the best discount broker.
Which Stock Broker is Best for Trading?
1. Zerodha
2. Paytm Money
3. Upstox
4. 5 Paisa
5. Motilal Oswal
Where do I start with stocks?
The best way to start with investing in stock is to invest one’s money in the market that can be used for buying stock shares or stock of mutual funds. One can even get help from the online stock brokers. so that beginners can start investing for the price of a single share.
Who provides the cheapest Brokerage in India?
1. 5Paisa (10 Per Trade for smart plan)
2. Zerodha(20 Per Trade)
3. Upstox(20 Per Trade)
4. Fyers(20 Per Trade)
5. Prostocks(899 Unlimited)
Can an Individual have two demat accounts?
One can have multiple Demat accounts with different stockbrokers but not with the same stockbroker.
Which Trading app is the best?
1. Upstox Pro
2. Paytm Money (App)
2. 5Paisa Mobile App.
3. Fyers Markets.
4. Zerodha Kite Mobile App.
Which is the best Upsox or Zerodha?
Both are Discount brokers whereas Zerodha has a brokerage Charge of Rs 20 per trade and the brokerage charge of Upstox is Rs 20 per trade but Upstox offers free account opening. Upstox is rated more than Zerodha.
End Words:
So now that we have looked at all the best stockbrokers in India the aim is to find out and choose the one which appeals the most and has the best deals for your needs.
As mentioned at the beginning of the article, the best stockbrokers are nearly three thousand or so but to pick one from the list of thousands of top brokers is a task that requires a lot of research and knowledge.
Stockbroking is a profession widely growing in the country and some of the stockbrokers are comparatively new to the industry still, have gained the reputation of best stock broker in India.
Please Read Our Related Articles
