Top 20 Share Brokers in India: Trusted Experts for Your Investment Needs in 2024

Stuck choosing a stock trading company? Seeking the best demat account or lowest brokerage charges in India? Check out our guide on the Top 20 Share Brokers in India for informed decisions.
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.

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