Best Full Service Stock Brokers in India
Full-Service Brokers are often known as Traditional Brokers. A full-service broker generally offers a range of add-ons in addition to trading at stock exchanges. This includes research reports, advisory, and a relationship manager apart from helping you buy and sell shares. They also offer a wide range of products including Mutual Funds, IPO, Debt, Insurance, and Loans.
The Full-Service Broker is the traditional way of functioning of the Stock Brokers. They deal with the end-to-end customer life cycle with respect to his investment portfolio and wealth management.
List of Top Full-Service Stock Brokers in India:
- Angel Broking
- Edelweiss
- Geojit
- HDFC Securities
- ICICI Direct
- IDBI Capital
- IIFL Securities
- Indiabulls Ventures
- Kotak Securities
- Motilal Oswal
- SBI Securities
- Sharekhan
The role of full-service stock brokers is paramount in a country like India where stock trading has become a fad these days. According to the latest report, more than 10K full-service conventional retail full-service brokers are operating in India. Due to the extensive range of services, they provide, full-service stockbrokers emerge as the first and foremost choice of those who want to get deeply involved in stock broking. In this post, you will get to know the top full-service brokers in India that are the first choice of those looking to avail of all-inclusive stock broking services.
Stock Brokers in India
In India, there are mainly two types of stock brokers – Full-service Stock Brokers and Discount Brokers.
What are full-service stock brokers?
A full-service stock broker is a brokerage firm that provides an extensive range of services to its clients. Some of these services are portfolio management services, customer support, stock advisory & research, investment planning, demat account, wealth management services, etc.
Due to the wide range of services they offer, they charge more brokerage as compared to discount stock brokers.
What is a discount stock broker?
As the name indicates, a discount stock broker is a brokerage firm that offers a limited number of stock broking services to those who want to take a DIY approach to stock broking. However, discount brokers offer competitive brokerage to their clients.
Important Points About Full-service Stockbrokers
- A full-service broker offers a plethora of financial services, research, and support to its clients.
- Other services may include estate planning, tax guidance, access to IPO investment, overseas markets, portfolio analysis and development, and so forth.
- Discount brokers may be less expensive, but they frequently focus on providing straightforward execution services for independent investors and traders.
- The practice of full-service brokers increasing fees in their clients’ portfolios is well-known.
- If you don’t want to conduct your own financial research but still want to be engaged in the markets, full-service brokers may be a wise choice.
Benefits Of Choosing Full-Service Share Brokers
Below are the major benefits of choosing full-service stock brokers in India
Proper and timely advice and guidance – Full-service brokers provide personalized attention to their clients through account representatives, commonly known as relationship managers. Customers generally have to disclose information relating to their finances and financial goals. And based on the customer’s preferences the representative/managers make recommendations about stocks, funds, or other instruments.
Help in achieving investment goals – These brokers’ relationship managers continue to communicate personally with their clients. They are also aware of their clients’ investing objectives. This aids them in advising and responding to inquiries from clients on certain investments and business plans. Therefore, assists in achieving wealth-building objectives.
Customized research access – Investment research goods are made available by full-service brokers. On a variety of financial instruments, these research offerings provide in-depth information and analysis.
Top Full-Service Brokers in India
If you want to get the best-in-class stock broking and other related services, it is necessary for you to choose the top stock broker in India. For your reference, we have highlighted the top 10 full-service share brokers in India. You can get to know more about them below, compare their charges & services, and take the decision accordingly.
| S.No | Broker Name | Client Base | Rating |
|---|---|---|---|
| 1. | Angel One | 40 lakh | 9.6 |
| 2. | IIFL Securities | 12 lakh | 9.5 |
| 3. | Nuvama (Edelweiss) | 12 lakh | 9.3 |
| 4. | HDFC Securities | 18 lakh | 9.0 |
| 5. | ICICI Direct | 30 lakh | 8.8 |
| 6. | SBI Securities | 6.5 lakh | 8.6 |
| 7. | Kotak Securities | 10 lakh | 8.6 |
| 8. | Sharekhan | 7.5 Lakh | 8.4 |
| 9. | Geojit | 2.5 lakh | 8.1 |
| 10. | Motilal Oswal | 9 lakh | 8.0 |
1. Angel One
Being in the stock broking landscape for 3 decades, Angel One comes on top of the list of top full-service brokers in India. Previously known as Angel Broking, the top stock broker was launched in 1996 and is a registered member of the Securities and Exchange Board of India (SEBI).
Angel One is an ideal choice for both new as well as seasoned traders and investors who want to associate themselves with a fabulous stock broking pioneer. Angel One offers a wide range of products & services to its clients including investments in commodities, stocks, currencies, futures, and options.
Angel One levies a standard INR 20 fee per executed order or 0.25% (whichever is lower) for all types of stocks, commodities, currencies, futures & options, irrespective of the order quantity.
Major Features of Angel One
- Full-service brokerage services with attractive brokerage
- The flat brokerage of Rs. 20 per trade order
- Availability of margin trading
- 0 cost stock advisory and tips
- Sub-broker/Relationship manager services
- No-cost fund transfer
- Stock educational support for new investors
- 20 charge for intraday square off and call & trade
Brokerage
| Category | Brokerage |
|---|---|
| Monthly Charges (Fixed) | |
| Equity Delivery | Rs 0 (Free) |
| Equity Intraday | Rs 20 per executed order |
| Equity Futures | Rs 20 per executed order |
| Equity Options | Rs 20 per executed order |
| Currency Futures | Rs 20 per executed order |
| Currency Options | Rs 20 per executed order |
| Commodity Futures | Rs 20 per executed order |
| Commodity Options | Rs 20 per executed order |
2. IIFL Securities
Another top full-service stock broker is IIFL Securities. One of the largest full-service stock brokers in India, IIFL Securities was set up in 1995 and is a part of the prestigious IIFL Group, a leading financial services company. The most salient offerings of IIFL Securities are customized service, excellent stock advisory, and embracement of advanced technology.
IIFL Securities provides online trading and research-based advisory services for a wide variety of financial products such as Stocks, Derivatives, Insurance, Commodities, Loans, FDs, Bonds, IPOs, etc.
IIFL Securities has an easy-going flat rate brokerage plan that offers stock trading at flat Rs 20 per order across all categories inclusive of equity delivery.
Major Features of IIFL Securities
- Flat Rs. Per Trade Brokerage and 0 cost Account opening
- Zero-cost equity and mutual fund research and recommendation
- Advanced order types like Valid Till Date (VTD) order
- High-end trading platform
- Invest across commodity, equity, and currency on one platform
- Equity SIP
- Personal relationship manager
- Wide range of financial offerings like MF, Bonds, IPO, Derivatives, Insurance, FDs, etc.
Brokerage
| Category | Brokerage |
|---|---|
| Monthly Charges (Fixed) | Rs 0 (Free) |
| Equity Delivery | Rs 20 per executed order |
| Equity Intraday | Rs 20 per executed order |
| Equity Futures | Rs 20 per executed order |
| Equity Options | Rs 20 per executed order |
| Currency Futures | Rs 20 per executed order |
| Currency Options | Rs 20 per executed order |
| Commodity Futures | Rs 20 per executed order |
| Commodity Options | Rs 20 per executed order |
3. Edelweiss (Nuvama)
Set up in 2008, Nuvama (previously Edelweiss Broking Ltd.) is based out of Mumbai and offers a plethora of products and services. The full-service stock broker allows its clients to invest in equity, debt, IPOs, mutual funds, commodities, currencies, and Futures and options. Nuvama offers flat fees and percentage-based brokerage plans to its clients. The company provides online and offline trading and investment services across Equities, F&O, Currency Derivatives, IPOs, Mutual Funds, and Insurance.
Edelweiss has an excellent branch network in India with 475 offices spread across 200 sites. Nuvama has bagged several awards for its offerings and adoption of technology. Some of the big awards won by Nuvama are National Digital Marketing Awards, 2017, ABP BFSI Awards 2017, BBC Knowledge, and Best Broker in India at Finance Asia (Hongkong) Country Awards 2016.
- Full-service broker with discount brokerage
- Brokerage of flat Rs 10 per trader order across all categories
- Free stock research and trading tips
- Quick digital online account opening
- Fully functional mobile application, website & desktop trading software
- IPO investment can be done online
- High leverage available across Cash, F&O, and CDS categories
Brokerage
| Category | Brokerage |
|---|---|
| Monthly Charges (Fixed) | Rs 0 (Free) |
| Equity Delivery | Rs 10 per executed order |
| Equity Intraday | Rs 10 per executed order |
| Equity Futures | Rs 10 per executed order |
| Equity Options | Rs 10 per executed order |
| Currency Futures | Rs 10 per executed order |
| Currency Options | Rs 10 per executed order |
| Commodity Futures | |
| Commodity Options |
4. HDFC Securities
HDFC Securities is one of the largest full-service stock brokers in India. It was established in 2000 and is a subsidiary of the country’s leading HDFC Bank. The stock broker enables its clients to invest in bonds, stocks, mutual funds, currency derivatives, IPOs, commodities, futures, options, buybacks, etc. The broker is SEB-registered and an active member of NSE, BSE, MCX, NSDL, and CDSL.
HDFC Securities offers trading services through various trading platforms that are based on the latest technology and offer a seamless stock trading experience. HDFC Securities levies the lowest brokerage of 0.10% per trade for Equity Delivery and Rs 20 per transaction in the case of derivatives trading. It provides a 3-in-1 account inclusive of a trading, savings bank, and a Demat account.
- Excellent trading platforms for both beginners and seasoned investors
- Option to invest in government bonds, mutual funds, IPOs, stocks, Insurance, and postal saving schemes under one roof
- Seamless trading available across BSE and NSE
- The margin for intraday trading is up to 20% of trade worth
Brokerage
| Category | Brokerage |
|---|---|
| Monthly Charges (Fixed) | Rs 199 per year |
| Equity Delivery | 0.32% |
| Equity Intraday | 0.032% |
| Equity Futures | Rs 20 per trade |
| Equity Options | Rs 20 per trade |
| Currency Futures | |
| Currency Options | |
| Commodity Futures | |
| Commodity Options |
5. ICICIdirect
Being a part of ICICI Group, ICICIdirect is a leading name in the field of stock trading. The full-service stock broker offers online trading and investment services to 5 million clients. The broker offers its clients to trade in equity, commodity, and currency trading across BSE, NSE, and MCX. Moreover, the clients can also choose to invest in IPOs, mutual funds, NCDs, bonds, and others.
ICICIdirect’s most liked offering is its 3-in-1 account, which is inclusive of a Bank Account, ICICI Trading Account, and debit account. This altogether guarantees a seamless trading experience.
ICICIdirect offers a wide range of brokerage plans i.e. I-Secure Plan, ICICIdirect Prime Plan, Lifetime Prepaid Brokerage Plan, and Neo Plan.
- 3-in-1 account for a seamless stock trading experience
- Option to manage your own Demat and bank accounts through ICICIdirect.com.
- Fast money transfer
- Investment in IPOs, Mutual Funds, GOI Bonds, and Postal Savings Schemes
- Trading across both BSE and NSE.
- Low bandwidth website for slower internet connection.
- VTC facility to place buy or sell limit orders which will remain valid for 45 days.
Brokerage
| Category | Brokerage |
|---|---|
| Equity Delivery | 0.55% |
| Equity Intraday | Rs 20 per executed order |
| Equity Futures | Rs 0 (Free) |
| Equity Options | Rs 20 per executed order |
| Currency F&O | Rs 20 per executed order |
| Commodity F&O | Rs 20 per executed order |
| NCDs / Bonds | 0.75% |
6. SBI Securities
Being a part of the renowned banking group of India – SBI, SBICAP securities, also known as SBI Securities is the stock broking arm of the group. The brokerage house offers its clients a wide range of investment products & services including equity, mutual funds, insurance, IPOs, ETFs, derivatives, and NCDs.
The brokerage charges of SBI Securities are Equity Delivery Brokerage – 0.50%, Equity Intraday Brokerage – 0.05%, Options Brokerage – Rs 100 Per Lot and Futures Brokerage – 0.05%. Its other major feature is a 3-in-1 account which is inclusive of a savings account, a trading account, and a Demat account.
- Years of legacy linked with SBI Bank
- A wide range of financial products & services
- Option to invest in mutual funds, IPOs, and bonds
- Availability of 100+ branches across the country
- 3-in-1 account opening facility
- Detailed stock research & analytical tools
- Advanced trading platforms like SBISMART Xpress and SBISMART
Brokerage
| Category | Brokerage |
|---|---|
| Monthly Charges (Fixed) | |
| Equity Delivery | 0.50% |
| Equity Intraday | 0.50% |
| Equity Futures | 0.50% |
| Equity Options | Rs 100 per lot |
| Currency Futures | 0.03% |
| Currency Options | Rs 30 per lot |
| Commodity Futures | NA |
| Commodity Options | NA |
7. Kotak Securities
Kotak Securities Ltd. is a leading full-service stock broker in India. It was founded in 1994 and offers its clients a 3-in-1 account. It provides unmatched investment opportunities in stocks, mutual funds, stocks, currencies, and commodities, and currencies.
Additionally, it provides third-party goods including insurance, research, margin trade finance, depository services, and portfolio management services (PMS). Additionally, the business offers direct access to US markets.
- 25+ years of industry expertise
- 3-in-1 account opening
- Attractive brokerage plans
- 0 brokerage scheme for investors up to 30 years of age
- High-tech trading platform
- Excellent branch network
Brokerage
| Category | Brokerage |
|---|---|
| Monthly Charges (Fixed) | |
| Equity Delivery | 0.25% (Minimum Rs 20 per trade) |
| Equity Intraday | Free |
| Equity Futures | Delivery: Rs 20 per trade | Intraday: Free |
| Equity Options | Delivery: Rs 20 per trade | Intraday: Free |
| Currency Futures | Delivery: Rs 20 per trade | Intraday: Free |
| Currency Options | Delivery: Rs 20 per trade | Intraday: Free |
| Commodity Futures | Delivery: Rs 20 per trade | Intraday: Free |
| Commodity Options | Delivery: Rs 20 per trade | Intraday: Free |
8. Sharekhan
Sharekhan is the frontrunner of online trading in India and was launched in 2000. The full service stock broker has an excellent physical presence with 1800 offices present in 500+ cities across India. Sharekhan offers trading facilities for equity cash and derivatives categories on BSE and NSE, commodities trading facilities on MCX and NCDEX. It also offers demat services and an opportunity to invest in IPOs, Insurance, and mutual funds.
The full-service stock broker follows a volume-based pricing pattern that levies a fixed percentage of brokerage charge across all trading segments. It refers to a higher volume of trade means higher brokerage charges or vice-versa.
- Call & trade facility
- Both offline and online stock education
- A wide range of brokerage brackets to fulfill the different needs of traders and investors
- Different types of trading platforms including web portals, mobile apps, and desktop application
- Availability of fixed deposits as collateral for F&O trading
- PAN India network of offices
- Zero-cost DP transactions
Brokerage
| Category | Brokerage |
|---|---|
| Monthly Charges (Fixed) | |
| Equity Delivery | 0.50% |
| Equity Intraday | 0.10% |
| Equity Futures | 0.10% |
| Equity Options | Rs 50 per lot |
| Currency Futures | 0.10% |
| Currency Options | Rs 30 per lot |
| Commodity Futures | 0.03% |
| Commodity Options | 0.03% |
9. Geojit
Established in 1987, Geojit is one of the top full-service stock brokers in India which also has a fabulous presence in the Gulf. Geojit BNP Paribas is essentially a cash equity and derivatives broker with years of experience in Portfolio Management Services, mutual funds, and insurance.
Geojit enables its clients to trade at NSE and BSE stock exchanges with an excellent network of nearly 500 branches and its state-of-the-art online trading platform.
- 0 cost research and tips.
- Free account opening.
- 20 per trade Intraday trading brokerage under the GTrade Max plan.
- 4X exposure in MTF
- Excellent network of nearly 500 branches
- Offices in UAE, Oman, Bahrain and Kuwait
- Advanced online trading platforms.
Brokerage
| Category | Brokerage |
|---|---|
| Monthly Charges (Fixed) | |
| Equity Delivery | 0.30% |
| Equity Intraday | Rs 20 per trade or 0.03% which is lower |
| Equity Futures | Rs 40 per lot |
| Equity Options | Rs 20 per lot |
| Currency Futures | Rs 40 per lot |
| Currency Options | Rs 20 per lot |
| Commodity Futures | NA |
| Commodity Options | NA |
10. Motilal Oswal
In 1987, Mumbai-based Motilal Oswal Securities Ltd. (MOSL), a financial services company was launched. Investors and traders may trade in derivatives, currencies, commodities, and stocks thanks to the stockbroker. It also provides a variety of other goods, such as IPOs, mutual funds, gold, term deposits, and insurance.
For equities and currency options, Motilal Oswal charges brokerage fees of Rs 20 per lot, 0.02% for intraday equity trading and equity futures, and 0.20% for equity delivery. The commodities brokerage charge for futures and options is 0.02% and costs Rs 20 per lot. It is a well-liked option for people seeking brokers in India with the lowest brokerage fees.
- 2 decades of industry expertise
- Zero-cost stock advisory services
- Free trading platform
- Wide range of investment products & services
Brokerage
| Category | Brokerage |
|---|---|
| Equity Delivery | 0.20% |
| Equity Intraday | 0.20% |
| Equity Futures | 0.20% |
| Equity Options | Rs 20 per lot |
| Currency Futures | 0.20% |
| Currency Options | Rs 20 per lot |
| Commodity Futures | Rs 20 per lot |
| Commodity Options | Rs 20 per lot |
Conclusion
Though the popularity of discount brokers has swelled multiple times in recent times, full-service stock brokers are still preferred by those who want to take a deep dive into the ocean of Indian stock markets. If you want best-in-class stock trading and other services, choose from the top stock brokers in India mentioned above and choose the best.
FAQs – Best Full-Service Stock Brokers in India
1. Which services are provided by a full-service stock broker?
Ans. Compared to a discount broker, a full-service stock broker offers a wide range of services including portfolio management, stock advisory & research reports, tax advice, IPO investment, foreign stock investment, and others.
2. For whom, does choosing a full-service stock broker make sense?
Ans. According to experts, full-service brokers are meant for investors who want personalized services and need dedicated support in regard to their investments. On the other hand, discount brokers are more suitable for investors who want cost-effective stock investments and love doing things on their own.
3. What are the major advantages of choosing a full-service stock broker?
Ans. A full-service stock broker offers its clients high levels of guidance and support regarding investment. Full-service stock brokers also offer portfolio management services, which means a professional will ensure that your portfolio remains regularly updated.
4. Which is the top most full-service stock broker?
Ans. According to experts and user ratings, Angel One is the top stock broker in India. From brokerage charges to stock advisory to customer support, the full-service stock broker outperforms its counterparts in every aspect of full-service stock broking.
5. IIFL Securities is known to have the best branch network with 2000+ branches across India.
Ans. If you are a novice in the stock market, full-service brokers are worth considering even though their fees are more than those of bargain brokers. You won’t have to worry much about market research if you work with a full-service broker because they are professionals at it.
6. What does a full-service broker account mean?
Ans. A full-service stock broker offers financial planning tailored to each client’s needs. Investment and wealth management, tax planning, retirement planning, real estate planning, and risk management are all included under the financial planning umbrella. A relationship manager is offered to the customer by the full-service broker.
7. Which is the most experienced full-service stock broker in India?
Ans. Angel is the most experienced stock broker in India since it was established in 1987.
8. Which stock broker has the lowest brokerage charges?
Ans. m.Stock and Zerodha are the leading stock brokers with the most competitive brokerage in the industry.
9. Which stock broker has the best stock advisory service?
Ans. According to experts, IIFL Securities offers one of the most extensive and valuable stock advisory and recommendations to its clients.
10. Which stock broker has the best physical network?
Ans. IIFL Securities is known to have the best branch network with 2000+ branches across India.