If you are looking for the best stock broker in India, you have come to the right website. Our expert team has analyzed over 100 different criteria that should be considered. It has important factors like brokerage fees and commissions, trading platforms, research and analysis tools, customer support, and reviews.
In this post, we have compiled a list of India’s top 20 stock broking companies based on these parameters in the table below. In the Indian stock market, many options are available, each with its characteristics. Some popular stock brokers in India include Upstox, Angel One, Zerodha, Paytm Money, ICICI Direct, HDFC Securities, and Kotak Securities. Choose the one that best suits your investment needs and preferences.
All these brokers are SEBI registered, so you should not have any worries about investment security. There are different types of stock brokers, including full-service, discount, and online brokers, each offering different services and fee structures.
Find the Top Online Share Brokers For You!
Top Picks:
Best Overall: Upstox
Best for beginners: Angel one
Best For Lowest Brokerage Charges: Paytm Money
Most Popular: Zerodha
List of Top 20 Stock Brokers In India 2024 (Comparison & Review)
Sr.No | Broker Name | Overall Rating | Active Clients | Read Review | Types of Investment Options |
1 | Upstox (Open Free Account) | 4.5/5 | 2,193,506 | Read Review | Equity, Mutual Funds, ETFs, US Stocks, Corporate FDs, Foreign Stocks, Currency Trading, Commodities Trading, F&O, Tax-Saving Investments, Retirement Planning, NRI Accounts, HNI Accounts, Minor Accounts |
2 | Paytm Money (Open Free Account) | 4.5/5 | 7,04,044 | Read Review | Equity, Mutual Funds, ETFs, US Stocks, NCD |
3 | Angel-One (Open Free Account) | 4.5/5 | 4,856,236 | Read Review | Equity, Mutual Funds, ETFs, US Stocks, Digital Gold, Corporate FDs, Foreign Stocks, Currency Trading, Commodities Trading, F&O, PMS, Tax-Saving Investments, Retirement Planning, NRI Accounts, HNI Accounts, Minor Accounts |
4 | Zerodha (Open Account) | 4.5/5 | 6,479,235 | Read Review | Equity, Mutual Funds, ETFs, US Stocks, Foreign Stocks, Currency Trading, Commodities Trading, F&O, PMS, Tax-Saving Investments, Retirement Planning, NRI Accounts, HNI Accounts, Minor Accounts |
5 | Groww | 4.1/5 | 6,628,645 | Read Review | Equity, Mutual Funds., ETFs, Digital Gold, Corporate FDs, various tax-saving investment options, including ELSS funds, PPF, NPS, etc |
6 | ICICIdirect | 4.0/5 | 1,912,937 | Read Review | Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives |
7 | HDFC Securities | 4.0/5 | 1,004,103 | Read Review | Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives |
8 | Kotak Securities | 4.0/5 | 9,99,463 | Read Review | Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives |
9 | Motilal Oswal | 3.9/5 | 7,98,485 | Read Review | Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives |
10 | SBI Securities | 3.9/5 | 6,80,648 | Read Review | Equity, Mutual Funds, ETFs, US Stocks, NCD |
11 | Sharekhan | 3.9/5 | 7,64,000 | Read Review | Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives |
12 | 5paisa | 3.8/5 | 5,00,442 | Read Review | Equity, Mutual Funds, ETFs, US Stocks, NCD |
13 | IIFL Securities | 3.8/5 | 4,23,474 | Read Review | Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives |
14 | Aditya Birla Capital | 3.8/5 | 3,45,000 | Read Review | Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives |
15 | AxisDirect | 3.8/5 | 3,25,917 | Read Review | Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives |
16 | Geojit | 3.8/5 | 2,33,120 | Read Review | Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives |
17 | Fyers | 3.7/5 | 2,00,305 | Read Review | Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives |
18 | Choice Broking | 3.7/5 | 1,95,840 | Read Review | Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives |
19 | SMC Global | 3.7/5 | 1,58,953 | Read Review | Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives |
20 | Alice Blue | 3.7/5 | 1,55,189 | Read Review | Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives |
Compare Brokerage charges of Top 20 Share Brokers in India 2024
Sr.No | Broker Name | Delivery Brokerage | Intraday Brokerage | Options Brokerage | Futures Brokerage |
1 | Upstox (Open Free Account) | Zero Brokerage | ₹20 per executed order or 0.05% (whichever is lower) | ₹20 per executed order | ₹20 per executed order or 0.05% (whichever is lower) |
2 | Paytm Money (Open Free Account) | Zero Brokerage | ₹20 per executed order or 0.05% (whichever is lower) | ₹20 per executed order | ₹20 per executed order or 0.05% (whichever is lower) |
3 | Angel-One (Open Free Account) | ₹20 per executed order or 0.01% to 0.04% (whichever is lower) | ₹20 per executed order or 0.01% to 0.04% (whichever is lower) | ₹20 per executed order | ₹20 per executed order or 0.01% to 0.04% (whichever is lower) |
4 | Zerodha (Open Account) | Zero Brokerage | ₹20 per executed order, or 0.03% (whichever is lower) | Flat ₹20 per executed order | ₹20 per executed order, or 0.03% (whichever is lower) |
5 | Groww | Zero Brokerage | ₹20 per executed order or 0.05%, whichever is lower | ₹20 per executed order | ₹20 per executed order or 0.03%, whichever is lower |
6 | ICICIdirect | 0.55% to 0.75% | 0.03% to 0.05% | ₹95 per executed order | 0.03% to 0.05% |
7 | HDFC Securities | 0.25% to 0.50% | 0.03% to 0.05% | ₹100 per executed order | 0.03% to 0.05% |
8 | Kotak Securities | 0.49% to 0.59% | 0.03% to 0.05% | ₹100 per executed order | 0.03% to 0.05% |
9 | Motilal Oswal | 0.50% to 0.75% | 0.05% to 0.15% | ₹100 per executed order | 0.05% to 0.15% |
10 | SBI Securities | 0.50% to 1.00% | 0.05% to 0.10% | ₹100 per executed order | 0.05% to 0.10% |
11 | Sharekhan | 0.10% to 0.50% | 0.03% to 0.05% | ₹100 per executed order | 0.03% to 0.05% |
12 | 5paisa | 0.10% to 0.25% | 0.05% to 0.10% | ₹10 per executed order | 0.05% to 0.10% |
13 | IIFL Securities | 0.05% to 0.50% | 0.05% to 0.05% | ₹100 per executed order | 0.05% to 0.05% |
14 | Aditya Birla Capital | 0.30% to 0.50% | 0.05% to 0.05% | ₹100 per executed order | 0.03% to 0.05% |
15 | AxisDirect | 0.50% to 1.00% | 0.05% to 0.10% | ₹100 per executed order | 0.05% to 0.10% |
16 | Geojit | 0.15% to 0.30% | 0.03% to 0.05% | ₹100 per executed order | 0.03% to 0.05% |
17 | Fyers | 0.10% to 0.30% | 0.01% to 0.05% | ₹20 per executed order | 0.01% to 0.05% |
18 | Choice Broking | 0.15% to 0.50% | 0.03% to 0.05% | ₹20 per executed order | 0.03% to 0.05% |
19 | SMC Global | 0.30% to 0.50% | 0.03% to 0.05% | ₹100 per executed order | 0.03% to 0.05% |
20 | Alice Blue | ₹0.01 per executed order | ₹20 per executed order | ₹20 per executed order | ₹20 per executed order |
Who is a Stock Broker?
A stock broker is a professional who buys and sells securities, such as stocks, bonds, and mutual funds, on behalf of clients in exchange for a fee or commission. They act as intermediaries between buyers and sellers and provide services such as market analysis, investment advice, and portfolio management. They are regulated by the Securities and Exchange Board of India (SEBI government agencies) and must adhere to strict guidelines to ensure the safety and security of their client’s investments.
Points to be noted while choosing the best stock broker in India:
Choosing the best stock broker in India is crucial for investors looking to invest in the Indian stock market. A stock broker is an intermediary who facilitates buying and selling securities on behalf of investors. Here are some factors to consider when choosing the best stock broker in India:
- Reputation: Choose a stockbroker with a good reputation in the market. Look for reviews and feedback from other investors to get an idea of the broker’s track record.
- Brokerage Fees and Charges: Compare the brokerage fees and charges of different brokers to find the one that offers the best value for your money. Look for brokers with transparent fee structures and no hidden costs.
- Trading Platform: Choose a broker that offers a user-friendly trading platform that meets your needs. Look for features like real-time data, technical analysis tools, and mobile trading apps.
- Customer Support: Look for a broker that offers good customer support, including phone, email, and chat support. Make sure they have a dedicated support team that is available to assist you whenever you need help.
- Regulatory Compliance: Choose a broker that is regulated by the Securities and Exchange Board of India (SEBI). This will ensure that your investments are safe and secure and that the broker follows all the necessary rules and regulations.
- Research and Analysis: Look for brokers that provide research and analysis on stocks, sectors, and markets. This will help you make informed investment decisions.
- Additional Services: Look for brokers that offer additional services like financial planning, wealth management, and tax planning. These services can add value to your investment portfolio and help you achieve your long-term financial goals.
Conclusion on Best Stock Broker in India:
All of these brokers have a strong reputation in the market and offer competitive pricing, excellent customer support, and user-friendly trading platforms. However, the final choice of the broker will depend on individual requirements and preferences. We recommend evaluating each of these options and selecting the one that aligns with your investment goals and trading style.
FAQs:
Which stock broker is best for beginners in India?
There are several stock brokers in India that are suitable for beginners, each with its own advantages and disadvantages. However, some popular options for beginners in India include Zerodha, Angel One, and Upstox. These brokers offer user-friendly platforms, educational resources, low brokerage fees, and excellent customer support. It is recommended to compare the features and fees of each broker before making a decision based on your personal needs and preferences.
Which is the cheapest stock broker in India?
Zerodha is considered one of the cheapest stock brokers in India, offering zero brokerage fees on equity delivery trades and a flat fee of Rs. 20 per trade on all other segments. Other low-cost brokers in India include Upstox, Angel Broking, and 5Paisa. However, it is important to note that while low brokerage fees may be attractive, other factors such as trading platforms, customer support, and ease of use should also be considered when choosing a stock broker.
Which broker is safest in India?
All stock brokers in India are regulated by the Securities and Exchange Board of India (SEBI) to ensure that they follow strict guidelines and maintain a certain level of security for their clients. However, some brokers have additional measures in place to ensure the safety of their client’s funds and data. Brokers like Zerodha, Upstox, HDFC Securities, ICICI Direct, and Kotak Securities are considered among the safest in India, as they have a strong reputation, offer multiple layers of security, and have been in business for many years. It is always advisable to do your own research and due diligence before choosing a broker to ensure that they are reliable, trustworthy, and secure.
Which stock broking Company is best?
It is difficult to say which stock broking company is the best, as different companies may be better suited for different investors based on their specific needs and preferences. However, some of the top stock broking companies in India, based on factors such as reputation, trading platforms, fees, customer service, and research offerings, include Zerodha, ICICI Direct, HDFC Securities, Angel Broking, and Kotak Securities. It is recommended to compare the features and fees of each broker before making a decision based on your personal needs and preferences.
Which is the best platform for trading?
There are several platforms available for trading in India, each with its own advantages and disadvantages. Some of the most popular trading platforms in India include Zerodha Kite, ICICI Direct Trade Racer, HDFC Securities ProTerminal, Angel Broking SpeedPro, and Sharekhan TradeTiger. These platforms are known for their user-friendly interface, advanced charting tools, real-time data streaming, and reliable execution. It is recommended to compare the features and fees of each platform before making a decision based on your personal needs and preferences.
Which broker is best for IPO?
Most stock brokers in India offer the facility to apply for IPOs (Initial Public Offerings) through their platform. Some brokers that are known for their IPO services include Zerodha, ICICI Direct, HDFC Securities, and Kotak Securities. These brokers provide easy and convenient access to IPOs, with features such as online applications, real-time status updates, and research reports. It is recommended to compare the fees and features of each broker before making a decision based on your personal needs and preferences.
How do I find a stock broker?
To find a stockbroker, determine your investment goals and preferences, decide between a full-service or discount broker, research and compare brokers using online resources, check regulatory compliance, compare fees and charges, test the broker’s platform with a demo or trial account, and finally, open an account online by filling out an application form and submitting required documents. Choosing the right broker is an important decision that can impact your investment success, so it’s essential to do your research and choose a broker that best fits your needs and preferences.
What is the role of a stockbroker?
A stockbroker is a licensed professional who acts as an intermediary between buyers and sellers of securities. Their main role is to help clients buy and sell stocks, bonds, mutual funds, and other securities. They execute trades on behalf of clients and provide investment advice, research reports, and market analysis. They also provide access to financial markets and assist in account management, tax planning, and portfolio diversification. Brokers earn a commission or fee for their services, and they are required to comply with the regulations set by regulatory authorities, such as the Securities and Exchange Board of India (SEBI). For more details please visit.
Are online stock brokerage companies safe?
Yes, most online stock brokerage companies are safe. They are regulated by government authorities, such as the Securities and Exchange Board of India (SEBI), and have to comply with various rules and regulations to ensure the safety of clients’ investments. Online brokers also use various security measures, such as encryption technology and two-factor authentication, to protect their client’s personal information and assets. However, it is essential to do your research and choose a reputable and trustworthy online broker to ensure the safety of your investments.
What are the brokerage charges for stockbroking?
The brokerage charges for stockbroking in India depend on the type of broker, the services offered, and the trading volume. Full-service brokers charge a percentage of the total transaction value, typically ranging from 0.1% to 0.5%. Discount brokers, on the other hand, charge a flat fee per trade, ranging from Rs. 10 to Rs. 20 per trade. In addition to brokerage charges, there may be other charges, such as account opening fees, annual maintenance fees, transaction fees, and regulatory fees. It is essential to compare fees and charges across different brokers to choose the one that best fits your needs and budget.
Which share broker is best for the stock?
Choosing the best share broker for stocks depends on individual preferences and requirements. Some of the popular share brokers in India are Zerodha, Angel Broking, ICICI Direct, HDFC Securities, and Sharekhan. Zerodha is known for its low fees and user-friendly platform, while Angel Broking offers a range of investment products and services. ICICI Direct and HDFC Securities are popular for their research reports and portfolio management services, while Sharekhan offers a range of trading platforms and tools. It is essential to do your research and compare different brokers based on their fees, services, and user reviews to choose the one that best suits your needs.
Can I transfer my shares to others with help from a stockbroker?
Yes, you can transfer your shares to others with the help of a stockbroker. The process of share transfer involves filling out a transfer form, submitting it to the registrar and transfer (R&T) agent of the company, and updating the shareholding details in the company’s records. A stockbroker can assist you in filling out the transfer form and completing the required documentation. They can also help you calculate the applicable stamp duty and other fees. It is important to ensure that the transfer is done through a reliable and trustworthy broker to avoid any fraudulent activities.
Which is the oldest broker in India?
The oldest stock broker in India is the Bombay Stock Exchange (BSE), which was founded in 1875. It is the oldest stock exchange in Asia and the first to be recognized by the Indian Government under the Securities Contracts Regulation Act of 1956. The BSE initially began as a group of brokers who would gather under a banyan tree in Mumbai to trade stocks and has since grown to become one of the largest and most prominent stock exchanges in the world.
Who is the best stock broker in India? Who gives the best trading advice?
Determining the “best” stockbroker or trading advisor in India is subjective and can vary based on individual preferences and requirements. However, some popular stock brokers in India known for their services and features include Zerodha, ICICI Direct, HDFC Securities, Sharekhan, and Motilal Oswal. When it comes to trading advice, it is important to conduct thorough research, consider multiple sources of information, and make informed decisions. It is recommended to consult with a qualified financial advisor or conduct your own research to validate any trading advice you receive.
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