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.
Impressive returns, best brokerage charges, multiple investment options, and easy liquidity are some of the prime reasons why people are rushing towards the stock market. This leads people towards searching for top 10 stock brokers in India for 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:
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
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 Brokers||Account Opening Charges||Maintenance Charges||Brokerage in NSE all Segments||Brokerage in MCX all segments||Intraday Leverage/|
Exposures in MIS
|Delivery Leverage Margin(CNC)|
|Zerodha||Rs 200||Rs 300||Rs 20/trade or 0.01% whichever is lower||Rs 20/trade or 0.01% whichever is lower||Upto 20 times||0|
|Trade Smart online||Rs 200||Rs. 300||Rs 15/executed order||Rs 15/executed order||Upto 5 times||3X|
|Trade Jini||Rs. 300||Rs 300/year||Rs 20/executed order||Rs 20 per executed order˜||Upto 20 Times||1X|
|SAMCO||Zero||Rs 400/year||Rs 20/trade or 0.01% whichever is lower||Rs 20/trade or 0.01% whichever is lower||Upto 15 times for||3X|
|Rs 300||Rs 300||Rs. 200||Rs 9/trade||Rs 9/trade||Upto 20 times||3X|
|RKSV||Rs 200||Rs 150 per year||Rs 20/trade or 0.01% whichever is lower||Rs 20/trade or 0.01% whichever is lower||Upto 20 times||1X|
|Fyers||Zero||Rs. 400/year||Rs 20 /executed order||Trading in MCX is not available||Upto 15 times||1X|
|Astha Trade||Rs.650||Rs.300||0.01%||0.01%||Upto 40 times||10X|
|5Paisa||Rs. 650(1 time)||Rs. 400/year||Rs 10 /executed order||Trading in MCX is not available||Upto 15 Times||2X|
|Wisdom Capital||Free||Lifetime Free||0.00%||0.00%||Upto 200 timesx||Upto 200 times|
Account Opening Details
|REVIEW BY BROKER||ACCOUNT OPENING CHARGES||BROKERAGE||OPEN ACCOUNT|
|Zerodha||Rs 300 for account opening||Zero BROKERAGE for delivery|
Rs 20 per trade for F&O
|Upstox||Rs 300 for account opening||Rs 20 per trade||OPEN ACCOUNT|
|Zeroshulk||Free||Rs 15 per trade||OPEN ACCOUNT|
|Trade Smart Online||Rs 400||Pay maximum of Rs 15 per trade.||OPEN ACCOUNT|
|REVIEW BY BROKER||ACCOUNT OPENING||YEARLY MAINTAINENCE||BROKERAGE||INTRADAY
|Angel Broking||Zero*||Free for first year||.22% and .02%||OPEN ACCOUNT|
|ICICI Direct||Zero*||Rs. 600||.55% and .05%||OPEN ACCOUNT|
|Anand Rathi||Zero*||Free for first year||.3% and .03%||OPEN ACCOUNT|
|AXIS Direct Brokerage||Rs 999||Rs 500||.5% and .05%||OPEN ACCOUNT|
|Canmoney||Rs 200||Rs 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:
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:
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.
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.
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.
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.
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.