Top 20 Share Brokers in India: Trusted Experts for Your Investment Needs in 2024
Top Picks
Brokers With Lowest Brokerage Charges - Paytm Money
Paytm Money is a top broker with the lowest charges because it doesn't charge anything for buying and holding stocks, making it affordable for investors.
Best Overall - Zerodha
Zerodha, a top discount broker, excels in trading and demat account services. Positive reviews, a user-friendly interface, affordable fees, diverse investment options, and useful features like technical indicators and advanced charting tools make it the best choice overall.
Best for Beginners - Aditya Birla Capital
User-friendly apps, educational resources, expert portfolio management services, and personal guidance make Aditya Birla Capital an excellent choice for beginners.
Brokerage Firms Comparison - Revisiting For The Year 2024
Brokerage and Hidden Charges of Top 20 Share Brokers in India
Related article
Other Additional Charges You Might Need To Pay
Demat Charges: ₹13.5 + GST per scrip
Stamp Duty: 0.015% on buy, 0.003% on intraday
STT (Securities Transaction Tax): 0.10% on buy and sell value, 0.025% on sell value, 0.0125% on sell value, 0.0625% on sell value (premium)
GST (Goods and Services Tax): 18% of (brokerage + SEBI charges + transaction charges)
Top Stock Market Intermediaries
Paytm Money is a relatively new entrant in the broking space, offering a simplified and user-friendly trading platform that caters to beginners and tech-savvy investors. Its zero brokerage for equity delivery and direct mutual funds, along with flat brokerage for intraday and F&O trades, makes it an attractive option for cost-conscious investors.
Key Features:
Annual Maintenance Charge
₹999 per year for trading account, ₹299 + taxes from second year
₹999 per year for Demat account
Intraday Charges: 0.03% or ₹20, whichever is lower per executed order
Types of investments options/assets: Stocks, mutual funds, ETFs, IPOs, US stocks, commodities, currency, fixed income, PMS
Account opening charge: ₹0
Brokerage Charges: Up to 0.50% for equity delivery
Tools Available: Trader's Corner charting tool, MO Trader, Orion Lite with SIP calculator, FD calculator, brokerage calculator, and more
Customer Support: 24/7 customer support via email, chat, and phone
Ease of use: User-friendly trading platform, mobile app for Android and iOS, simple and intuitive interface, easy-to-understand charts and graphs
Account Types: Regular trading account, Demat account, Trading account for minors, NRI accounts, HNI accounts
Educational Resources: Free online courses on investing, Demat account opening guide, Trading tutorials, Market news and analysis
Market access: Access to all major Indian stock exchanges, Trading in NSE, BSE, MCX, and NCDEX, Access to US stocks through NSE IFSC
Safety and Security: 2FA, SSL encryption, ISO 27001 certified
Compliance: Complies with all SEBI regulations, Transparent pricing, No hidden charges
Violations: Paytm Money has no history of significant violations of SEBI regulations
Services Offered:
Demat and trading accounts
Mutual funds
ETFs
IPOs
Derivatives
PMS
Margin trading
NRI accounts
HNI accounts
Pros
Simple and affordable pricing structure
Suitable for beginners and tech-savvy investors
Cons
Limited range of investment products compared to other full-service brokers
User Testimonials:
“I have been a happy user and investor for more than a year now. Possibly the best UI and app available for mutual fund investments. There are only Direct plans which benefit the public. Everything is so easily set up that it feels like you are purchasing regular goods at an e-commerce website.”
Zerodha is a top discount broker that had a stellar financial run, scoring ₹2,094 crore in profits from a ₹4,964 crore revenue in FY22. Known for its unique pricing and cool in-house tech, it's now India's top stockbroker. It caters to both beginners and experienced traders, offering a seamless trading experience and empowering them to make informed investment decisions.
Key Features:
Annual Maintenance Charge: ₹0 for trading and ₹300 Demat account
Intraday Charges: 0.03% of trade value or ₹20, whichever is lower
Types of investments options/assets: Stocks, mutual funds, ETFs, currency derivatives, commodity derivatives, and options
Account opening charge: ₹0 for equity and ₹200 for commodity
Brokerage Charges: Equity delivery: 0%
Tools Available: Kite, Console, Coin, Kite Connect API, Varsity mobile, 80 Technical Indicators
Customer Support: 24/7 customer support via email, chat, and phone
Ease of use: User-friendly trading platform, Kite, mobile app for Android and iOS, simple and intuitive interface, easy-to-understand charts and graphs
Account Types: Regular trading account, Demat account, Trading account for minors
Educational Resources: Free online courses on investing, Varsity, Trading tutorials, Market news and analysis
Market access: Access to all major Indian stock exchanges, Trading in NSE, BSE, MCX-SX, and NCDEX
Safety and Security: 2-factor authentication, Data encryption, Secure servers, SEBI-registered broker
Compliance: Complies with all SEBI regulations, Transparent pricing, No hidden charges
Violations: Zerodha has no history of significant violations of SEBI regulations
Services Offered:
Equity Trading
Commodity Trading
Currency Trading
Mutual Funds
Bonds and Government Securities
Pros
Wide range of investment products
Comprehensive research and advisory services
Cons
Slow account opening process
User Testimonials:
Zerodha has an overall rating of 4.5 based on 341 customer reviews and positive reviews like -
“Good technology, charting and customer support”
3. Aditya Birla Capital
Aditya Birla Capital is a trusted full-service broker with a strong track record of innovation. Its easy-to-use platform and excellent customer support make it a good choice for beginners. At the same time, the trading platform and wide range of investment options benefit experienced investors.
Key Features:
Annual Maintenance Charge: ₹250 per annum (free for the first year)
Intraday Charges: 0.05% or ₹20 per executed order (whichever is lower)
Types of investments options/assets: Equity, Derivatives, Commodities, Currency, Insurance, FDs, Loans, IPO, and Bonds
Account opening charge: ₹0 (Free)
Brokerage Charges: Flat ₹20 per executed order across all segments including equity delivery
Tools Available: Campaign - Aditya Birla Money - Portfolio Analyser, Moneycontrol
Customer Support: 24x7 customer support via phone, email, and chat
Ease of use: User-friendly trading platforms such as Trade Station Exe, ABTRADE, and more
Account Types: Regular trading account, Demat account, Trading account for minors, NRI accounts, HNI accounts, and NRI accounts
Educational Resources: Expert research and analysis, personalised support, and more
Market access: BSE, NSE, MCX, and NCDEX
Safety and Security: 2-factor authentication, Data encryption, Secure servers, SEBI-regulated and ISO 27001 certified
Compliance: Complies with all SEBI regulations
Violations: No major violations reported
Services Offered:
Lending
Insurance
Asset management
Stock and securities broking
Pros
Provides customised financing solutions for small to medium-sized businesses
Extensive network of branches for personalised interactions
Comprehensive research and advisory services
Cons
Higher brokerage fees compared to discount brokers
User Testimonials:
“Aditya Birla Capital is a great all-around broker that is well-suited for both beginners and experienced investors.”
4. Upstox
Upstox is a rising player in the discount broking market, loved for its simple and affordable approach, including zero brokerage on equity delivery and affordable intraday trading. With over 10 million users, it's outpacing rivals at a valuation of $3.5 billion. Comprehensive research reports, giving traders valuable insights for smart investment decisions and lots of useful tools, make it perfect for both newbies and experienced traders.
Key Features:
Annual Maintenance Charge: ₹0 for trading and ₹150 for Demat account
Intraday Charges: 0.03% of trade value or ₹20, whichever is lower
Types of Investments Options/Assets: Stocks, mutual funds, ETFs, IPOs, futures, and options
Account Opening Charge: ₹0
Brokerage Charges: Delivery: 0.1% or ₹20, whichever is less
Tools Available: Brokerage Calculator, 2X Margin Pledge on over 450 Stocks, Option Chain With Greeks, F& O Smartlists, Live News, etc
Customer Support: 24/7 customer support via email, chat, and phone
Ease of Use: User-friendly trading platform, web and mobile app for Android and iOS, simple and intuitive interface, easy-to-understand charts and graphs
Account Types: Regular trading account, Demat account, Trading account for minors
Educational Resources: Resources like Trading Glossary, Knowledge Base, Market Talk, Stock Market Holidays Calendar 2024
Market Access: Access to all major Indian stock exchanges, Trading in NSE, BSE, MCX, and NCDEX
Safety and Security: 2-factor authentication, Data encryption, Secure servers, SEBI-registered broker
Compliance: Upstox is regulated by SEBI, also registered with BSE, NSE, MCX, CDSL and NSDL.
Violations: Upstox has no history of significant violations of SEBI regulations
Services Offered:
Online trading in equity intraday, delivery, derivatives, commodities, and currency segment
Upstox Invest
Stocks
Mutual Funds
IPOs
Sovereign Gold Bonds
Trade (Futures & Options, Commodities, Currency)
Demat Account
Trading Account
Online Trading
Intraday Trading
Future and Options
Share Market
Post-Trade actions
Pros
Competitive margins for intraday and F&O trading
Comprehensive research reports
Cons
Limited customer support options
User Testimonials:
Users love the platform for its ease, low fees, and handy features like live market data, advanced charts, and a mobile app for trading anytime.
5. ICICIdirect
ICICIdirect is a full-time stockbroker that offers a range of services apart from trading and investing in the stock market. ICICIdirect’s 3-in-1 account integrates your banking, broking, and demat accounts, making it a convenient option for investors and traders. ICICIdirect’s NEO brokerage plan is another noteworthy feature, which charges a flat brokerage fee of Rs. 20 per order for intraday, future and options (F&O), commodities, and currencies.
Key Features:
Annual Maintenance Charge
₹499 + GST annually
₹700 for Demat Account
Intraday Charges: 0.015% on buy, 0.003% on intraday
Types of investments options/assets: Stocks, mutual funds, ETFs, IPOs, corporate bonds, fixed income securities, commodities, currency derivatives, global investment products
Account opening charge: ₹0
Brokerage Charges: Delivery: 0%
Tools Available: i-Track for personalised insights and live charts, Advance Charts for diverse styles, and Payoff Analyser for personalised payoff charts. Access real-time F&O Insights and trade quickly with Flash Trade.
Customer Support: 24/7 customer support via email, chat, and phone
Ease of use: User-friendly trading platform, mobile app for Android and iOS, simple and intuitive interface, easy-to-understand charts and graphs
Account Types: Regular trading account, Demat account, NRI account, HNI account, trading account for minors
Educational Resources: Free online courses on investing, Demat account opening guide, Trading tutorials, Market news and analysis
Market access: Access to all major Indian stock exchanges, Trading in NSE, BSE, MCX, and NCDEX
Safety and Security: 2-factor authentication, Data encryption, Secure servers, SEBI-registered broker
Compliance: Complies with all SEBI regulations, Transparent pricing, No hidden charges
Violations: ICICIdirect has a history of minor violations of SEBI regulations, including failure to maintain adequate records and failure to provide timely disclosures
Services Offered:
Equity
Mutual Funds
Derivatives
Futures and Options
Currency
Commodity
ETF
Insurance
IPOs
Corporate Fixed Deposits
Loans
NPS
Wealth Management
Corporate Services
NRI Services
Portfolio Management Services
Global Investment
Financial Learning
Tax Services
Pros
Convenient 3-in-1 Account provides convenience of banking, broking, and demat accounts
Diverse service at competitive pricing
Provide personalised guidance
Cons
Higher brokerage fees compared to discount brokers
User Testimonials:
Users applaud ICICIdirect for its user-friendly interface, diverse mobile apps, trading platforms, and low brokerage fees.
6. HDFC Securities
HDFC Securities, a leading full-service broker, caters to both experienced traders and investors. Its comprehensive platform supports a diverse range of investment activities, backed by an expert research team that provides in-depth market analysis and recommendations, making it a standout choice among the top 20 share brokers in India.
Key Features:
Annual Maintenance Charge: ₹499 + GST annually
Intraday Charges: 0.015% on buy, 0.003% on intraday
Types of investments options/assets: Stocks, mutual funds, ETFs, IPOs, commodities, currency derivatives, and bonds
Account opening charge: ₹0
Brokerage Charges: Delivery: 0.25% on buy, 0.15% on sell
Tools Available: Online Trading Platform to buy or sell stocks on both the BSE and the NSE, MCX, SmallChartIQ, including 100 popular technical indicators, 30 customisable tools and 13 candle time
Customer Support: 24/7 customer support via email, chat, and phone
Ease of use: User-friendly trading platform, mobile app for Android and iOS, simple and intuitive interface, easy-to-understand charts and graphs
Account Types: Regular trading account, Demat account, Trading account for minors
Educational Resources: Free online courses on investing, Demat account opening guide, Trading tutorials, Market news and analysis
Market access: Access to all major Indian stock exchanges, Trading in NSE, BSE, MCX, and NCDEX
Safety and Security: 2-factor authentication, Data encryption, Secure servers, SEBI-registered broker
Compliance: Complies with all SEBI regulations
Violations: HDFC Securities has no history of significant violations of SEBI regulations
Services Offered:
Stock SIP
Basket Investing
IPO
Mutual Funds
NFO
Invest in US Stocks
PMS
NRI
Pros
Advanced trading platform with sophisticated tools
Competitive margins for intraday and F&O trading
Cons
Occasional technical issues
User Testimonials:
People praised HDFC Securities for their services, easy-to-use interface and prompt customer support.
7. Kotak Securities
Kotak Securities is a promising full-service equity broker in India. It offers diverse trading platforms such as Keat Pro X, a Mobile App and a Website, research tools and educational content for informed decision-making. It caters to a diverse clientele, from beginners to experienced investors, offering a personalised approach to investment management.
Key Features:
Annual Maintenance Charge
₹780 per year for trading account
₹300 per year for Demat account
Intraday Charges: 0.025% of trade value or a minimum of ₹20 per executed order
Types of investments options/assets: Stocks, mutual funds, ETFs, IPOs, US stocks, currency derivatives, commodities, sovereign bonds, tax-free bonds, NCDs, and more
Account opening charge: Demat account opening charge - ₹150 + GST, Trading account opening charge - Free
Brokerage Charges: Delivery: Equity: 0.25% of trade value or a minimum of ₹20 per executed order
Tools Available: KEAT Pro X desktop trading application, Kotak Stock Trader, Kotak Securities Mobile App
Customer Support: 24/7 customer support via email, chat, and phone
Ease of use: User-friendly trading platform, mobile app for Android and iOS, simple and intuitive interface, easy-to-understand charts and graphs
Account Types: Regular trading account, Demat account, Trading account for minors, Joint account, NRI account, HNI account, Corporate account
Educational Resources: Free online courses on investing, Demat account opening guide, Trading tutorials, Market news and analysis, Webinar programs
Market access: Access to all major Indian stock exchanges, Trading in NSE, BSE, MCX, and NCDEX
Safety and Security: 2-factor authentication, Data encryption, Secure servers, SEBI-registered broker
Compliance: Complies with all SEBI regulations,
Violations: Kotak Securities has a clean record and no significant violations of SEBI regulations
Services Offered:
Futures and Options
Margin Trading Facility
Exchange Traded Funds
Currency Trading
Commodities
Mutual Funds
Tax-Free Bonds
IPO
Stock Basket (smallcase)
Sovereign Gold Bonds
NCD (Non-Convertible Debentures)
SLBM (Securities Lending and Borrowing Mechanism)
Global Investing
Pros
Personalised investment recommendations aligned with client objectives
Wide range of investment products across various asset classes
Cons
Limited order types
User Testimonials:
“Very smooth UI. Really loved the app a lot. The brokerage-free plan is amazing.”
8. Motilal Oswal
Motilal Oswal, a seasoned full-service broker, excels in personalised services, investor education, and profitable stock recommendations. With over 30 years of experience, it stands out as a leading choice for investors, recognised six times as the 'Best Performing National Financial Advisor - Equity Broker.'
Key Features:
Annual Maintenance Charge
₹999 per year for trading account, ₹299 + taxes from second year
₹999 per year for Demat account
Intraday Charges: 0.03% or ₹20 per executed order
Types of investments options/assets: Stocks, mutual funds, ETFs, IPOs, US stocks, commodities, currency, fixed income, PMS
Account opening charge: ₹0
Brokerage Charges: Delivery: 0.015% on buy, 0.003% on sell
Tools Available: Trader's Corner charting tool, MO Trader, Orion Lite with SIP calculator, FD calculator, brokerage calculator, and more
Customer Support: 24/7 customer support via email, chat, and phone
Ease of use: User-friendly trading platform, mobile app for Android and iOS, simple and intuitive interface, easy-to-understand charts and graphs
Account Types: Regular trading account, Demat account, Trading account for minors, NRI accounts, HNI accounts
Educational Resources: Free online courses on investing, Demat account opening guide, Trading tutorials, Market news and analysis
Market access: Access to all major Indian stock exchanges, Trading in NSE, BSE, MCX, and NCDEX, Access to US stocks through NSE IFSC
Safety and Security: 2-factor authentication, Data encryption, Secure servers, SEBI-registered broker
Compliance: Complies with all SEBI regulations, Transparent pricing, No hidden charges
Violations: Motilal Oswal has no history of significant violations of SEBI regulations
Services Offered:
Retail broking
IPO & mutual funds investment
Portfolio & wealth management
Insurance
Gold investment
Pros
Solid research and advisory offerings
Wealth & Portfolio management services
A lot of brokerage plans
Cons
Complex platform for beginners
User Testimonials:
“Motilal Oswal Demat and trading accounts are best for traders or investors looking for research advisory and handholding.”
9. Groww
Groww offers one of the lowest brokerage charges in India, with a flat fee of ₹20 per trade, making it a top choice for investors seeking to save money on trading costs. Its advanced charting tools, algorithms and automation really come in handy to make informed trading decisions.
Key Features:
Annual Maintenance Charge: ₹100 for non-active users
Intraday Charges: Flat ₹20 per trade
Types of investments options/assets: Equity, Mutual Funds, ETFs, US Stocks, Digital Gold, Corporate FDs
Account opening charge: Zero
Brokerage Charges: Up to 0.5% for equity delivery, flat ₹20 per trade for intraday, flat ₹50 for US stocks, flat ₹1 for mutual funds
Tools Available: Website, Mobile App, Financial Planning Calculators
Customer Support: Live chat, email, phone support
Ease of use: User-friendly interface, simple and intuitive navigation
Account Types: Regular trading account, NRI account, HNI account, minor account
Educational Resources: Blog, articles, webinars, videos
Market access: NSE, BSE, NCDEX, MCX, US stock exchanges
Safety and security: Multi-factor authentication, bank-level security
Compliance: SEBI registered, complies with all applicable regulations
Violations: None reported
Services Offered:
Trading in stocks, mutual funds, and ETFs
Access to all major Indian stock exchanges
Demat account opening
Pros
Transparent pricing
Mobile app for Android and iOS
Trading account for minor
Cons
Limited products for investment
User Testimonials:
“Groww is transparent and data-based.”
“It took me 5 minutes to set up and 10 minutes to find the funds that suited my need and investment.”
10. SBI Securities
SBI Securities is a subsidiary of the State Bank of India, offering a comprehensive range of investment products and services to a diverse clientele. It is basically a full-service broker company that provides services through both National and Central Depositary Services Limited. It is also one of the most reliable demat account providers in India.
Key Features:
Annual Maintenance Charge: ₹0
Intraday Charges: 0.05% or ₹15 per executed order, whichever is lower
Types of investments options/assets: Equity, Derivatives, Mutual Funds, IPOs, NPS
Account opening charge: ₹850
Brokerage Charges: Delivery: 0.50% to 1.00%. Intraday: 0.05% to 0.10%. Futures: 0.05% to 0.10%. Options: ₹100 per executed order
Tools Available: SBISMART Xpress, SBISMART Money, SBISMART Web, SBISMART Mobile
Customer Support: Email, Phone, Chat
Ease of use: User-friendly platform
Account Types: Regular trading account, Demat account, Trading account for minors, NRI accounts, HNI accounts
Educational Resources: Free online courses on investing, Demat account opening guide, Trading tutorials, Market news and analysis
Market access: Access to all major Indian stock exchanges, Trading in NSE, BSE, MCX, and NCDEX, Access to US stocks through NSE IFSC
Safety and Security: 2FA, SSL encryption, Data encryption, Secure servers, ISO 27001 certified
Compliance: SEBI registered
Violations: SBI Securities has no history of significant violations of SEBI regulations
Services Offered:
Demat and trading accounts
Mutual funds
ETFs
IPOs
Derivatives
PMS
Margin trading
NRI accounts
HNI accounts
Pros
Low non-trading fees
Quick digital account opening with no minimum deposit
Cons
Higher brokerage fees compared to discount brokers
User Testimonials:
“In Sbi the user interface is average, the service is good. Almost all the required facilities are available.”
11. Sharekhan
Sharekhan, a full-service broker with almost 7,64,000 active clients, offers services through its website and 1800 offices across 550+ Indian cities. Ideal for traders needing diverse services like stock trading, research, and advisory.
Key Features:
Annual Maintenance Charge: ₹400 per annum
Intraday Charges: 0.05% or ₹10 per executed order (whichever is lower)
Types of investments options/assets: Equity, Derivatives, Currency, Commodity, Mutual Funds, IPO, Bonds, and FDs
Account opening charge: ₹750
Brokerage Charges: 0.1% to 0.5% depending on the trading volume
Tools Available: Trade Tiger, Sharekhan App, Sharekhan Mini, Sharekhan Classroom, Sharekhan Research, and Sharekhan Trade Academy
Customer Support: 24x7 customer support via phone, email, and chat
Ease of use: User-friendly trading platforms with intuitive interfaces
Account Types: Classic Account, Trade Tiger Account, and Sharekhan First Account
Educational Resources: Sharekhan Classroom, Sharekhan Research, and Sharekhan Trade Academy
Market access: BSE, NSE, MCX, NCDEX, and MSEI
Safety and Security: 2-factor authentication, Data encryption, Secure servers, SEBI-regulated and ISO 27001 certified
Compliance: Complies with all SEBI regulations
Violations: No major violations reported
Services Offered:
Demat and trading accounts
Mutual funds
ETFs
IPOs
Derivatives
PMS
Margin trading
NRI accounts
HNI accounts
Pros
Offers a wide range of services, including securities brokerage, mutual funds, and wealth management.
Provides international trading services.
Cons
Customer support can be difficult to reach at times
User Testimonials:
“It has been one of the most trusted stock trading companies in India for over 2 decades now; best for beginners as it offers in-person onboarding, training, local support and a relationship manager.”
12. 5paisa
5paisa is a leading discount broker known for its user-friendly trading platform, zero brokerage for equity delivery and direct mutual funds, and flat brokerage for intraday and F&O trades. It offers tools for both traders and investors. At the same time, the lower brokerage charges for high volume make it a top equity broker in India, specifically for traders who trade in high volumes.
Key Features:
Annual Maintenance Charge: ₹45 per month
Intraday Charges: 0.05% or ₹20 per executed order (whichever is lower)
Types of investments options/assets: Equity, Derivatives, Currency, Commodity, Mutual Funds, IPO, Bonds, and ETFs
Account opening charge: ₹650
Brokerage Charges: Flat ₹20 per trade
Tools Available: 5paisa Trade Station, 5paisa Mobile App, 5paisa Web, and 5paisa Trader Terminal, Trade Station Exe, Stock Screener, Technical Stock Screener, etc
Customer Support: 24x7 customer support via phone, email, and chat
Ease of use: User-friendly trading platforms with intuitive interfaces
Account Types: Regular trading account, Demat account, Trading account for minors
Educational Resources: 5paisa School, 5paisa Research, and 5paisa Blog
Market access: BSE, NSE, MCX, and NCDEX
Safety and Security: 2-factor authentication, Data encryption, Secure servers, SEBI-regulated and ISO 27001 certified
Compliance: Complies with all SEBI regulations
Violations: No major violations reported
Services Offered:
Demat and trading accounts
Mutual funds
ETFs
IPOs
Derivatives
PMS
Margin trading
NRI accounts
HNI accounts
Pros
Low brokerage charges
User-friendly platform
Cons
Research and advisory services are limited
User Testimonials:
“It is a very simple and systematic app which can be used for buying and selling shares in the stock market. I loved it.”
13. IIFL Securities
IIFL Securities is a full-service share broker with over 4,23,474 active clients. It provides online trading and research-based advice on stocks, derivatives, commodities, and more. Whether you're a high-volume trader or a newcomer needing solid online training, look no further than IIFL Securities.
Key Features:
Annual Maintenance Charge: ₹250 per annum (free for the first year)
Intraday Charges: 0.05% or ₹20 per executed order (whichever is lower)
Types of investments options/assets: Equity, Derivatives, Commodities, Currency, Insurance, FDs, Loans, IPO, and Bonds
Account opening charge: ₹0 (Free)
Brokerage Charges: Flat ₹20 per executed order across all segments including equity delivery
Tools Available: TTWeb Trading Portal, TTExe Desktop Application, IIFL Markets Mobile App, IIFL MF App, OneUp to bid online for IPOs, SVGs, NCDs, etc
Customer Support: 24x7 customer support via phone, email, and chat
Ease of use: User-friendly trading platforms with intuitive interfaces
Account Types: Regular trading account, Demat account, Trading account for minors, NRI accounts, HNI accounts, Corporate accounts, and NRI accounts
Educational Resources:IIFL Research, IIFL School, and IIFL Blog
Market access: BSE, NSE, MCX, and NCDEX
Safety and Security: SEBI-regulated and ISO 27001 certified
Compliance: Complies with all SEBI regulations
Violations: No major violations reported
Services Offered:
Demat and trading accounts
Mutual funds
ETFs
IPOs
Derivatives
PMS
Margin trading
NRI accounts
HNI accounts
Pros
Competitive brokerage charges
Strong financial backing
Cons
Platform can be slow at times
User Testimonials:
“IIFL is the renowned stockbroker who provides various financial products to its customers at nominal brokerage. They have an excellent online presence and protect you from the offline hurdles.”
14. Angel-One
Angle One is another promising discount broker, offering zero brokerage for equity delivery and direct mutual funds. With flat charges for intraday and F&O trades, it pairs competitive pricing with thorough research and advisory services, making it a go-to for traders, whether newbies or seasoned investors.
Key Features:
Annual Maintenance Charge: ₹150 for Trading and Demat account
Intraday Charges: 0.015% on buy, 0.003% on intraday
Types of investments options/assets: Stocks, ETFs, Commodities, Funds, Mutual Funds, Fixed Income, Futures & Options, Initial Public Offering (IPO).
Account opening charge:: No account opening fee
Brokerage Charges: Delivery: 0.025% on buy, 0.0125% on sell
Tools Available: Angle One Trade, Angle One App, Angle One
SpeedPro Advance Charting Tool, Angle ARQ Investment Advisory Tool
Customer Support: Live chat, phone, email.
Ease of use: Angel One offers a variety of platforms, including a mobile app and investment advice. It has excellent educational tools for beginner investors.
Account Types: Demat account, Trading account, Margin account, Intraday Trading account, two-in-one account.
Educational Resources: Free online courses on investing, Demat account opening guide, trading tutorials, market news, and analysis
Market access: Access to all major Indian stock exchanges, trading in NSE, BSE, MCX, and NCDEX. Plus, it offers various products, including stocks, commodities, currencies, futures and options.
Safety and Security: 2-Factor Authentication, Data encryption, Secure servers, SEBI-Registered Broker.
Compliance: Angel One is regulated by the Securities and Exchange Board of India (SEBI). Also, member of the Securities and Exchange Board of India (SEBI), Bombay Stock Exchange (BSE), National Stock Exchange of India (NSE) and Metropolitan Stock Exchange of India (MSEI).
Violations: No history of minor violations of SEBI regulations
Services Offered:
Demat and trading accounts
Investment options
Research and advisory
Trading tools and platforms
IPO investing
Margin trading
NRI accounts
HNI accounts
Pros
Attractive pricing structure
Dedicated relationship managers
Cons
Limited number of order types
User Testimonials:
Beginner investors like Angle One for comprehensive educational resource
15. AxisDirect
AxisDirect is a full-service broker known for its user-friendly trading platform, comprehensive research and advisory services, and wide range of investment products. It caters to a diverse clientele, from beginners to experienced investors, offering a seamless trading experience and tailored investment solutions.
Key Features:
Annual Maintenance Charge: ₹250 per annum (free for the first year)
Intraday Charges: 0.05% or ₹20 per executed order (whichever is lower)
Types of investments options/assets: Equity, Derivatives, Commodities, Currency, Insurance, FDs, Loans, IPO, and Bonds
Account opening charge: ₹0 (Free)
Brokerage Charges: Flat ₹20 per executed order across all segments including equity delivery
Tools Available: RING PC professional-level trading tool, Axis Direct Mobile App, DIRECTTrade, Swift Trade 3.0, Axis Direct Wise Advisor
Customer Support: 24x7 customer support via phone, email, and chat
Ease of use: User-friendly trading platforms with intuitive interfaces
Account Types: Resident Indian and NRI accounts
Educational Resources: Free online courses on investing, Demat account opening guide, Trading tutorials, Market news and analysis
Market access: BSE, NSE, MCX, and NCDEX
Safety and Security: SEBI-regulated and ISO 27001 certified
Compliance: Compliant with all regulatory requirements
Violations: No major violations reported
Services Offered:
Investment and trading ideas
Financial planning
Loans and general insurance
Tax planning, and drafting of wills
Trading with AxisDirect's 3-in-1 demat account, trading & savings account
Pros
User-friendly trading platform with advanced charting tools
Wide range of investment products across various asset classes
Cons
Higher brokerage fees compared to discount brokers
User Testimonials:
"I've been very impressed with AxisDirect's low brokerage charges and wide range of investment options.”
16. Geojit
Geojit is a good option for beginners who are just starting to invest or who are looking for a low-cost option with a wide range of investment products. They offer a variety of stocks, mutual funds, ETFs, and options at the lowest brokerage charges in India.
Key Features:
Annual Maintenance Charge: No annual maintenance fee for trading accounts.
Intraday Charges: 0.03% of the transaction value or ₹20 per order, whichever is lower.
Types of investment options/assets: Equity, derivatives, currency, mutual funds, IPOs, and bonds.
Account opening charge: ₹100 for opening a Demat account.
Brokerage Charges: Geojit offers two brokerage plans: the Online Traditional Plan and G-Trade Max Plan. The brokerage charges for the Online Traditional Plan are 0.30% for equity delivery, 0.03% for equity intraday, 0.01% for equity futures, and ₹50 per lot for equity options. The brokerage charges for the G-Trade Max Plan are ₹40 per lot for equity futures and ₹20 per lot for equity options.
Tools Available: FundsGenie for mutual funds, Selfie advanced trading platform, Trader X trading management and research tool, Options lab, Investment tools such as Strategy Builder, Multi-leg Orders, Options Chains with Greeks, Payoff Chart, OI Tool, Margin Calculators, etc.
Customer Support: Phone, email, and chat. They also have a network of around 500 branches across India.
Ease of use: User-friendly online trading portal and easy to navigate.
Account Types: Basic Service Demat Account, Regular Demat Account, and NRI Demat Account.
Educational Resources: Webinars, tutorials, and research reports
Market access: BSE and NSE stock exchanges
Safety and Security: Two-factor authentication for secure login. Plus, Geojit is a SEBI-registered broker and is a member of NSE, BSE, MCX, and NCDEX.
Compliance: Geojit complies with all regulatory requirements and guidelines set by SEBI
Violations: Geojit has not been involved in any major violations or controversies in recent years
Services Offered:
Demat and trading accounts
Mutual funds
ETFs
IPOs
Derivatives
Commodities
PMS
NRI accounts
HNI accounts
Margin trading
IPO investing
Algorithmic trading
Pros
Strong brand reputation
Extensive network of branches for personalised interactions
Cons
Complex platform for beginners
User Testimonials:
"Geojit is a reliable and trustworthy stockbroker with a long history of innovation.”
17. Fyers
Fyers is one of the most feature-rich discount broker trading platforms. It has everything you need to make informed trading decisions, from advanced charting tools to technical indicators and fundamental analysis tools, making it one of the top stock market intermediaries.
Key Features:
Annual Maintenance Charge: ₹400 per annum
Intraday Charges: ₹20 per executed order
Types of investments options/assets: Equity Cash, F&O, and Currency Derivatives segments at NSE
Account opening charge: Free
Brokerage Charges: Flat brokerage fee of maximum ₹20 per executed order
Tools Available: Fyers Web flagship online trading platform, Fyers One desktop trading platform, Fyers Mobile App, including advanced charting, technical screens, stock screens, and more.
Customer Support: Email, phone, and chat support
Ease of use: User-friendly online trading and investment platform
Account Types: Trading and Demat account
Educational Resources: Thematic investing, research reports, and blogs
Market access: NSE
Safety and Security: SEBI registered and member of major stock exchanges like BSE, NSE, and MCX
Compliance: SEBI registered, complies with all applicable regulations
Violations: None reported
Services Offered:
Demat account services
Equity trading
Commodity trading
Currency trading
Option, future, mutual funds and SIP (systematic investment plan)
Pros
Advanced charting tools and technical analysis capabilities
Innovative features such as heatmaps and backtesting
Cons
Simple and basic order types
User Testimonials:
"Fyers' brokerage charges are a bit higher than some of the other online brokers in India. However, I feel that the quality of their platform and customer support justifies the higher fees."
18. Choice Broking
Choice Broking is a full-service broker known for its personalised service approach, extensive research and advisory services, and wide range of investment products. It has a diverse clientele, from beginners to experienced investors, offering tailored investment solutions and a seamless trading experience.
Key Features:
Annual Maintenance Charge: ₹300 per annum
Intraday Charges: ₹20 per executed order
Types of investments options/assets: Equity, Derivatives, Currency, and Commodity segments at BSE, NSE, and MCX
Account opening charge: Free
Brokerage Charges: Flat brokerage fee of maximum ₹20 per executed order
Tools Available: Choice FinX (formerly Jiffy) flagship online trading platform, Choice FinX online mobile trading app, Investica mutual fund investment web and mobile app
Customer Support: Email, phone, and chat support
Ease of use: User-friendly online trading and investment platform
Account Types: Trading and Demat account
Educational Resources: Research reports, expert advisory, and trading calls
Market access: BSE, NSE, and MCX
Safety and Security: SEBI registered and member of major stock exchanges like BSE, NSE, and MCX
Compliance: Complies with all SEBI regulations, Transparent pricing, No hidden charges
Violations: No history of significant violations of SEBI regulations
Services Offered:
Margin Trading
Portfolio Management
Commodity Trading
Equity Trading
Currency Trading
Futures
Options
SIP
Mutual Funds
Insurance
Wealth Management
Loan Against Shares
Pros
Competitive margins for intraday and F&O trading
Personalised guidance
Cons
Complex platform for beginner
User Testimonials:
“I'm a professional trader and I've been using Choice Broking for over five years now. Their platform is one of the best in the market, and their customer support is always available to help.”
19. SMC Global
SMC Global is a full-service broker known for focusing on research and giving advice on investments. It mainly helps experienced investors looking for advanced trading solutions. They offer a wide range of investment products and provide personal guidance through experienced relationship managers.
Key Features:
Annual Maintenance Charge: ₹400 per annum
Intraday Charges: ₹20 per executed order
Types of investments options/assets: Equities (cash and derivatives), commodities, and currency segments at BSE, NSE, and MCX
Account opening charge: Free
Brokerage Charges: Flat brokerage fee of maximum ₹20 per executed order
Tools Available: SMC Privilege, SMC Auto Trender, SMC’s Online Trading Platform, SMC’s Mobile Trading App, SMC’s Desktop Trading Terminal
Customer Support: Email, phone, and chat support
Ease of use: User-friendly online trading and investment platform
Account Types: Trading and Demat account
Educational Resources: Research, financing, depository services, insurance broking (life & non-life), clearing services, mortgage advisory, and real estate advisory services
Market access: BSE, NSE, and MCX
Safety and Security: SEBI registered and member of major stock exchanges like BSE, NSE, and MCX
Compliance: Complies with all SEBI regulations
Violations: None Reported
Services Offered:
Equities, Derivatives, Commodities and Currency Trading
Wealth Management
Distribution of IPOs, Mutual Funds & Fixed Income Products
Depository Services
Clearing Services
Real Estate Advisory
Forex Advisory
NRI Investment
NBFC Financing
Alternate Investment Fund (AIF)
Research Services
Investment Banking
Insurance Broking
Mortgage Advisory
FPI Investment
NPS Services
Pros
Comprehensive research and advisory support for informed decision-making
Personalised investment recommendations aligned with client objectives
Cons
Higher brokerage fees compared to discount brokers
User Testimonials:
“SMC Global is my go-to broker for all my investment needs. Their platform is user-friendly and always up-to-date. I'm always confident in my investment decisions when I use SMC Global.”
20. Alice Blue
Alice Blue is one of the best Demat account providers and a promising discount broker recognised for its user-friendly trading platform, zero brokerage for equity delivery and direct mutual funds, and flat brokerage for intraday and F&O trades. It primarily caters to cost-conscious investors and beginners seeking a simplified trading experience.
Key Features:
Annual Maintenance Charge: ₹400 per year
Intraday Charges: ₹15 per order
Types of investment options/assets: Equity, Currency, and Commodity segments, Initial Public Offerings (IPOs), F&O (Futures and Options) & Mutual Funds
Account opening charge: ₹0
Brokerage Charges: ₹15 for Intraday and F&O Trading along with FREE Equity, IPO and Mutual Funds Investments
Tools Available: AliceBlue Mutual Funds, Alice IPO, Optimum Semi Algo Trading Platform, Smallcase Thematic Investment Platform, Sensibull Options Trading Platform, Tickertape: Stock and Investment Research Tools, TradeAction for Buying and Selling Signals Software
Customer Support: Phone, email, and chat
Ease of use: User-friendly and easy to navigate
Account Types:Regular trading account, Demat account, and trading account for minors
Educational Resources: Webinars, tutorials, and articles
Market access: Member of several exchanges, including the MCX, NSE, NCDEX, MCX-SX, BSE, and CDSL
Safety and Security: 2-factor authentication, Data encryption, Secure servers, SEBI-registered broker also registered with major indices such as NSE, BSE, NCDEX and MCX
Compliance: Alice Blue adheres to all regulatory requirements set by SEBI
Violations: Alice Blue has not been involved in any major violations
Services Offered:
Trading of Stock, Commodity and Currency
Demat Account
IPO Investment
Mutual Funds
Thematic Investment
Options Trading
Buy and Sell Signals
API for Algo Trading
Advisory
Pros
Free API for Algo trading
Bracket order and Cover order for Futures and Options
Predefined Technical and Fundamental Analysis Strategies
Cons
Occasional technical glitches and customer support issues
User Testimonials:
“Alice Blue has made the transition so easy. Their platform is simple to use, and their customer support is excellent. I'm so glad I made the switch!”
Definition Of Stock Or Share Broker
Stock or share broker company simplifies the complex process of buying and selling stocks in the financial market. They offer access to the stock market, execute trades efficiently, and provide research tools. Brokers also assist with managing portfolios and ensuring diversified investments. Their expertise and guidance help traders make informed investment decisions and maximise profit.
How We Shortlist The Best Share Brokers In India
Broker Reputation and Credibility: We've shortlisted the top 20 share brokers in India, emphasising a solid track record and unwavering trustworthiness.
Brokerage Charges: We dig deep into the fee structures, making sure we spot brokers with the best rates out there.
Trading Platforms: We prioritise stock trading companies that boast user-friendly interfaces, enhancing your overall trading experience. You can also check some of the best trading apps in India.
Research and Analysis Tools: Considering the available tools of each broker, we guarantee access to valuable insights for well-informed decision-making.
Customer Service: We've narrowed down our list only to include the top stock market intermediaries known for providing responsive and helpful customer support.
Account Types, Margin, and Leverage: The choice is yours; we suggest you choose the best options tailored to your individual needs.
Security Features: Without compromise, our priority is given to brokers with top-notch security measures to safeguard your investments.
User Reviews and Ratings: Conducting a comprehensive assessment, we've thoroughly reviewed customer feedback on each company's official website.
Educational Resources: Recognising the importance of tutorials for beginners and decision-making, we prioritise brokers offering rich learning materials.
Market Coverage: We evaluate each broker's market coverage to ensure a wide and diverse range of investment opportunities.
Ease of Fund Transfer: One of our key considerations is analysing the convenience and efficiency of fund transfer processes.
Regulatory Compliance: We prioritise brokers who strictly adhere to regulatory standards for a secure trading environment.
Discounts and Promotions: We actively look for added value through available discounts and promotions.
Documents Are Required To Open A Trading Account With A Stockbroker In India
PAN Card
ID Proof, such as an Aadhar card, passport, or driver's licence
Address proof like an Aadhar card, passport, or utility bills
Bank Statements or Cancelled Cheques
Income-proof documents, like salary slips or income tax returns
Duly filled application form
Cheque for account opening
KYC documents
Trading and Demat account agreement
What Should One Consider Regarding A Broker's Trading Platform And Tools?
User-friendly interface
Fast execution speed
Research and analysis tools
Charting features for analysing stock trends and patterns with ease
Availability of mobile app
Compatibility with various order types, including market orders, limit orders, and stop orders
Real-Time market data for timely decision-making and accurate information.
Customization options
Risk management tools, like stop-loss orders and risk assessment tools.
A responsive customer support team
Solid security measures
Different types of Share Brokers
Full-Service Brokers: Offer comprehensive services with financial planning, investment advice and research. They generally charge high.
Discount Brokers: Execute trades with lower brokerage fees and minimal additional services.
Online Brokers: Operate digitally, facilitating electronic trading and portfolio management.
Traditional Brokers: Provide personalised services through physical offices, often charge higher costs.
Direct Market Access (DMA) Brokers: Enable direct market entry for faster and more efficient trade execution.
Institutional Brokers: Serve hedge funds and large corporations with high trading volumes.
Retail Brokers: Cater to individual retail investors with various services.
Prime Brokers: Offer comprehensive services to hedge funds, including clearing, settlement, custody, and financing.
Introducing Brokers: Act as intermediaries referring clients to larger brokerage firms.
Online Discount Brokers: Offer low-cost trading services over online platforms for budget-conscious investors.
FAQs:
1. What are the charges associated with stockbrokers in India?
The charges include brokerage fees for trades and other fees like account opening and maintenance charges, varying between brokers.
2. What is the difference between a full-service broker and a discount broker?
Full-service brokers offer comprehensive services with higher fees, while discount brokers provide basic services at lower costs.
3. Can I have multiple accounts with different brokers?
Yes, you can have multiple accounts with different brokers, allowing flexibility and diversification in your investment strategy.
4. Which is the fastest-growing broker in India?
In this article, we've compiled a list of the top 20 rapidly growing share brokers in India, considering recent market trends and their performance.
5. What security measures does the broker have in place to protect accounts and sensitive information?
The top stock trading companies or brokerage firms generally implement robust security measures, including encryption and two-factor authentication, to safeguard accounts and sensitive information from unauthorised access.
6. How do I choose the right share broker in India?
Consider factors like brokerage charges, customer service, and trading platforms. Choose the best one according to your preferences, trading style, and investment goals.
7. Can I invest in international accounts using Indian share brokers?
Yes, some Indian share brokers, like Groww, Zerodha, Upstox, etc, provide access to international markets, allowing investors to diversify their portfolios beyond the domestic market.
To contact the Express Deals team, please drop an email to - expressdeal@newindianexpress.com
We will reach out to you in the next 48 business hours.
Disclaimer: At Express Deals, we work with subject matter experts to bring you the latest in product innovations and Indian eCommerce trends. Express Deals participates in various affiliate programs, which means we may earn revenue on purchases made through the links to retailer sites. Please note that prices mentioned on the pages can vary based on retailer promotions on any given day. Also, do note that we will not be liable for any claim under applicable laws, including but not limited to the Consumer Protection Act, 2019, with respect to the featured products since they aren't directly sold by us.