Best Stock Broker in India – Compare Top 10 Stock Brokers in India

With so many stock brokers in the market, it becomes very difficult for an investors or traders to find out which of them is the Best Stock Broker in India, who can be the best option for their investment needs. Here is the list of top 10 stock brokers in India, You can check and compare all of them according to your investment needs.

Now a days stock market offers multiple investment options and easy liquidity at low brokerage charges that why people are searching for top 10 stock brokers in India to start investment. Trading and investment is a technical process and hence a beginner needs an expert advisory. This is the reason why people search for the best stock broker in India.

If you are someone who is looking for best brokerage charges, you need to have a look at the top 10 discount brokers in India.

List of Top 10 Stock Brokers in India

Now you must be looking to compare top 10 brokers in India after understand the importance of having a good stock broker. Here is a list of top 10 share brokers in India with their ratings:

Rank Broking Firm Rating
1 Zerodha 9.14/10
2 Angel Broking 8.88/10
3 IIFL/ India Infoline 8.74/10
4 Motilal Oswal 8.60/10
5 Sharekhan 8.50/10
6 Upstox 8.48/10
7 ICICI Direct 8.44/10
8 Edelweiss 8.44/10
9 HDFC Securities 8.42/10
10 5Paisa 8.38/10

Types of Stock Brokers in India

Stock brokers in India can be classified into two broad categories: Full-service stock brokers and discount brokers. Before you decide on which of the two should you choose, you need to understand what each one of them is and how full-service stock brokers are different from discount brokers.

1. Full-Service Brokers: A full-service stock broker offers a host of services other than just executing the buy and sell orders for its clients. Apart from buying and selling of securities, the other services offered by top full-service brokers in India include researching on trending topics, conducting sectoral and stock research, tax planning, and others. A full-service broker has physical presence in multiple locations and is the one who has been in the stock broking business for ages. Here is a list of top full-service brokers in India for you to consider when looking for full-service brokers in India:

List of Top Full-Service Brokers in India

Edelweiss Sharekhan ICICI Direct Motilal Oswal
Geojit Finance HDFC Securities India Infoline Kotak Securities
Angel Broking Karvy JM Financial Shriram Insight
Aditya Birla Money Asit C Mehta KIFS Trade Capital SMC Global
Anand Rathi Astha Trade Mastertrust Capital Sushil Finance
Yes Securities BMA Wealth Creators Monarch Networth Capital Swastika Investment
Jainam Share Consultants Choice Broking Nirmal Bang Tradebulls
K R Choksey Axis Direct Canmoney Ventura Securities

 

2. Discount Broker: Discount brokers are the ones who charge low brokerage fees and are often known to offer services to traders with a small capital to invest in the stock market. They are mostly self-directed and hence are suitable for active traders who like to trade on their own. This is the reason why the services of discount brokers are centered around helping investors monitor their movements regularly. A discount broker helps traders trade on the stock exchange and follows a “do-it-yourself” policy. They do not provide other services like financial planning, advisory services, research reports, and so on.

List of Top Discount Brokers in India

List of Discount BrokersAccount Opening ChargesMaintenance ChargesBrokerage in NSE all SegmentsBrokerage in MCX all segmentsIntraday Leverage/
Exposures in MIS
Delivery Leverage Margin(CNC)
ZerodhaRs 200Rs 300Rs 20/trade or 0.01% whichever is lowerRs 20/trade or 0.01% whichever is lowerUpto 20 times0
Trade Smart onlineRs 200Rs. 300Rs 15/executed orderRs 15/executed orderUpto 5 times3X
Trade JiniRs. 300Rs 300/yearRs 20/executed orderRs 20 per executed order˜Upto 20 Times1X
SAMCOZeroRs 400/yearRs 20/trade or 0.01% whichever is lowerRs 20/trade or 0.01% whichever is lowerUpto 15 times for3X
Rs 300Rs 300Rs. 200Rs 9/tradeRs 9/tradeUpto 20 times3X
RKSVRs 200Rs 150 per yearRs 20/trade or 0.01% whichever is lowerRs 20/trade or 0.01% whichever is lowerUpto 20 times1X
FyersZeroRs. 400/yearRs 20 /executed orderTrading in MCX is not availableUpto 15 times1X
Astha TradeRs.650Rs.3000.01%0.01%Upto 40 times10X
5PaisaRs. 650(1 time)Rs. 400/yearRs 10 /executed orderTrading in MCX is not availableUpto 15 Times2X
Wisdom CapitalFreeLifetime Free0.00%0.00%Upto 200 timesxUpto 200 times

Account Opening Details

REVIEW BY BROKERACCOUNT OPENING CHARGESBROKERAGEOPEN ACCOUNT
ZerodhaRs 300 for account openingZero BROKERAGE for delivery
Rs 20 per trade for F&O
OPEN ACCOUNT
UpstoxRs 300 for account openingRs 20 per tradeOPEN ACCOUNT
ZeroshulkFreeRs 15 per tradeOPEN ACCOUNT
Trade Smart OnlineRs 400Pay maximum of Rs 15 per trade.OPEN ACCOUNT
REVIEW BY BROKERACCOUNT OPENINGYEARLY MAINTAINENCEBROKERAGEINTRADAY
Angel BrokingZero*Free for first year.22% and .02%OPEN ACCOUNT
ICICI DirectZero*Rs. 600.55% and .05%OPEN ACCOUNT
Anand RathiZero*Free for first year.3% and .03%OPEN ACCOUNT
AXIS Direct BrokerageRs 999Rs 500.5% and .05%OPEN ACCOUNT
CanmoneyRs 200Rs 200.35% and .035%OPEN ACCOUNT

The list of stock broker operating in India is vast. However, when it comes to choosing a brokerage firm for investing in stock market, either through a traditional broker or a discount broker, there is no ideal choice. The choice of best stock broker differs from one individual to another. It majorly depends on the investors’ personal needs and penchants, comparing the costs against the benefits of each broker, and sensibly comparing the standard of services and features offered.

Top 15 Stock Brokers in India with Highest Active Clients

Top brokers in India with highest active client base are as follows:

S. No. 15 Biggest Stockbrokers in India with Active Clients No. of   Active Clients %Share
1 Zerodha Broking Limited 2398743 14.28%
2 Rksv Securities India Private Limited (Upstox) 1281861 9.66%
3 Angel Broking Limited 1125418 6.48%
4 Hdfc Securities Ltd. 675551 6.03%
5 Icici Securities Limited 629260 5.62%
6 Kotak Securities Ltd. 583482 5.21%
7 Sharekhan Ltd. 547950 4.89%
8 5paisa Capital Limited 489661 4.37%
9 Motilal Oswal Financial Services Limited 385535 3.44%
10 Axis Securities Limited 271990 2.43%
11 Sbicap Securities Limited  261951 2.34%
12 Karvy Stock Broking Ltd. 231818 2.07%
13 Iifl Securities Limited 224450 2.00%
14 Geojit Financial Services Limited 165029 1.47%
15 Edelweiss Broking Limited 130926 1.17%

 

Important Factors to Consider While Choosing Best Stock Broker in India

Choosing the best stock broker in India can be a tedious task, especially when you have a huge list of top brokers in India. However, to make your job easy we have listed some of the significant factors you should consider while choosing the best stock broker in India. This will help you choose the best brokerage firm offering the best brokerage charges out of the list of top 10 stock brokers in India. These factors which need to be considered are as follows:

1.Brokers History

Before deciding who is the best stock broker in India it is important for you to carry out a background check of the brokerage firm under consideration. One of the most preferred ways of checking a broker’s history is thoroughly checking its website and going through client testimonials and reviews.

2.Commission Cost

The other crucial factor when choosing the best stock broker in India out of the list of top 10 stock brokers in India is the commission cost. The broker you choose will charge you a certain percentage of brokerage fees or commission cost to carry out your trades. The amount of commission you pay has an impact on the returns you make. Hence, it is always advisable to choose a stock broker with the best brokerage charge to save on cost.

3.Trading Platforms

Best stock brokers in India facilitate traders with the best trading platforms or software to carry out trades. The platform you are being offered by your broker should be user-friendly and stable to ensure timely placement of trades. It should also guarantee the safety and security of your trading transactions.

4.Customer Support

With the large number of stock brokers operating in India, a stock broker offering commendable customer support services usually stands out of the crowd. Customers prefer choosing brokers who are quick in resolving their queries and are available to solve their issues. A satisfied customer is the one that goes the long way and hence a brokerage firm offering great customer support services is the winner of the crowd.

5.Trading tools and education

Another important factor to keep in mind when choosing the best discount in India is the educational material a broker is offering. Best stock broker in India will provide educational material like articles, training tools, webinars, e-courses, and seminars at no additional costs.

6.Regulations

Regulation is yet another important factor to be considered when choosing the best stock broker in India. Proper regulation ensures that the broker you are dealing with upholds standard practices and will keep your data and money safe.

FAQs on Best Brokerage Firms

1.Ques- How to find best stock broking company in India?

Ans- The best stock broking companies in India have 5 exuberant traits in them. Before you choose the best stock broking company in India has a look at the customer ratings given to different companies on these 5 traits.

2.Ques- Which is the best full service stock broker?

Ans- Angel Broking is by far considered to the best full-service broker in India with a solid rating of 9.5/10. The best full service stock broker will ensure that their customer have access to plenty of products and services and assists them in investing.

3.Ques- Which is the best discount broking service firm in India?

Ans- Zerodha happens to be one of the best discount broking firms in India with a customer rating of 9.6 on a scale of 10. The best part about Zerodha is the affordable brokerage charge it levies on its customers along with user-friendly, ultra-fast trading platforms.

4.Ques- Which is the best stock broker for research, advisory, and stock tips?

Ans- When it comes to choosing the best stock broker for research, advisory and stock trading tips, IIFL happens to top the list. It has a user rating of 8.9 and can predict a stock’s performance with absolute accuracy and precision.

5.Ques- Which stock broker has lowest brokerage charges?

Ans- Zerodha has the lowest brokerage charge in the industry among all the companies. Brokerage charge a firm levies on each trade happens to be one of the most important factors when choosing the best stock broking firm as it directly affects an investor’s ROI.

6.Ques- Which stock broker provides world class products and services?

Ans- With a user rating of 9.5 out of 10, Zerodha happens to be the best stock broker providing world class products and services to its customers. It is one of the leading discount brokers in the country which offers almost all the trading and investment products to its clients.

7.Ques- Which stock broker provides the fastest trading app?

Ans- Zerodha, yet again, offers the fastest trading platform to its customers and hence manages to bag a rating of 9.4/10. Zerodha’s trading platform supports features like real-time data streaming, stock recommendations, and multiple watch lists among others.

8.Ques- Which is the most trustworthy and experienced stock broker in India?

Ans- Angel Broking tops the list of being one of the most trustworthy and experienced stock brokers in India with a whooping rating of 9/10. When it comes to figuring out the market beforehand, Angel Broking manages to do a decent yet impressive job.