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_Share_Brokers_in_India__Trusted_Experts_for_Your_Investment_Needs
Top_Share_Brokers_in_India__Trusted_Experts_for_Your_Investment_Needs

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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

Broker

Active Clients

Types of Investment Options

Foreign Stocks

SEBI Registration

Paytm Money

7,04,044

Equity, Mutual Funds, ETFs, US Stocks, NCD

Doesn’t Support

Yes

Zerodha

6,479,235

Equity, Mutual Funds, ETFs, US Stocks, Foreign Stocks, Currency Trading, Commodities Trading, F&O, PMS, Tax-Saving Investments, Retirement Planning, NRI Accounts, HNI Accounts, Minor Accounts

Doesn’t support

Yes

Aditya Birla Capital

3,45,000

Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives

Over 1,000

Yes

Upstox

2,193,506

Equity, Mutual Funds, ETFs, US Stocks, Corporate FDs, Foreign Stocks, Currency Trading, Commodities Trading, F&O, Tax-Saving Investments, Retirement Planning, NRI Accounts, HNI Accounts, Minor Accounts

Over 3,000

Yes

ICICIdirect

1,912,937

Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives

Over 2,000

Yes

HDFC Securities

1,004,103

Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives

Doesn’t Support

Yes

Kotak Securities

9,99,463

Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives

Over 1,000

Yes

Motilal Oswal

7,98,485

Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives

Over 500

Yes

Groww

6,628,645

Equity, Mutual Funds., ETFs, Digital Gold, Corporate FDs, various tax-saving investment options, including ELSS funds, PPF, NPS, etc

Over 5,000

Yes

SBI Securities

6,80,648

Equity, Mutual Funds, ETFs, US Stocks, NCD

Over 500

Yes

Sharekhan

7,64,000 

Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives

Over 500

Yes

5paisa

5,00,442

Equity, Mutual Funds, ETFs, US Stocks, NCD

No

Yes

IIFL Securities

4,23,474

Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives

Over 1,000

Yes

Angel-One

4,856,236

Equity, Mutual Funds, ETFs, US Stocks, Digital Gold, Corporate FDs, Foreign Stocks, Currency Trading, Commodities Trading, F&O, PMS, Tax-Saving Investments, Retirement Planning, NRI Accounts, HNI Accounts, Minor Accounts

Over 4,000

Yes

AxisDirect

3,25,917

Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives

Doesn’t Support

Yes

Geojit

2,33,120

Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives

Over 500

Yes

Fyers

2,00,305

Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives

Over 500

Yes

Choice Broking

1,95,840

Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives

Over 500

Yes

SMC Global

1,58,953

Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives

Over 500

Yes

Alice Blue

1,55,189

Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives

Over 500

Yes

Brokerage and Hidden Charges of Top 20 Share Brokers in India

Broker

Delivery Brokerage

Intraday Brokerage

Options Brokerage

Futures Brokerage

Paytm Money

Zero Brokerage

0.05% or ₹10 per executed order, whichever is lower

₹10 per executed order

0.02% of turnover or ₹10 per executed order, whichever is lower

Zerodha

Zero Brokerage

0.03% or ₹20 per executed order, whichever is lower

Flat ₹20 per executed order

0.03% or ₹20 per executed order, whichever is lower

Aditya Birla Capital

0.30% to 0.50%

0.05% to 0.05%

₹100 per executed order

0.03% to 0.05%

Upstox

Zero Brokerage

0.05% or ₹20 per executed order, whichever is lower

₹20 per executed order

0.05% or ₹20 per executed order, whichever is lower

ICICIdirect

0.55% to 0.75%

0.03% to 0.05%

₹95 per executed order

0.03% to 0.05%

HDFC Securities

0.25% to 0.50%

0.03% to 0.05%

₹100 per executed order

0.03% to 0.05%

Kotak Securities

0.49% to 0.59%

0.03% to 0.05%

₹100 per executed order

0.03% to 0.05%

Motilal Oswal

0.50% to 0.75%

0.05% to 0.15%

₹100 per executed order

0.05% to 0.15%

Groww

Zero Brokerage

0.05% or ₹20 per executed order, whichever is lower

₹20 per executed order

0.03% or ₹20 per executed order, whichever is lower

SBI Securities

0.50% to 1.00%

0.05% to 0.10%

₹100 per executed order

0.05% to 0.10%

Sharekhan

0.10% to 0.50%

0.03% to 0.05%

₹100 per executed order

0.03% to 0.05%

5paisa

0.10% to 0.25%

0.05% to 0.10%

₹10 per executed order

0.05% to 0.10%

IIFL Securities

0.05% to 0.50%

0.05% to 0.05%

₹100 per executed order

0.05% to 0.05%

Angel-One

0.1% to 0.4%

0.01% to 0.04%

₹20 per executed order

0.01% to 0.04%

AxisDirect

0.50% to 1.00%

0.05% to 0.10%

₹100 per executed order

0.05% to 0.10%

Geojit

0.15% to 0.30%

0.03% to 0.05%

₹100 per executed order

0.03% to 0.05%

Fyers

0.10% to 0.30%

0.01% to 0.05%

₹20 per executed order

0.01% to 0.05%

Choice Broking

0.15% to 0.50%

0.03% to 0.05%

₹20 per executed order

0.03% to 0.05%

SMC Global

0.30% to 0.50%

0.03% to 0.05%

₹100 per executed order

0.03% to 0.05%

Alice Blue

₹0.01 per executed order

₹20 per executed order

₹20 per executed order

₹20 per executed order

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

Cons

Simple and affordable pricing structure

Limited range of investment products compared to other full-service brokers

Suitable for beginners and tech-savvy investors

 

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

Cons

Wide range of investment products

Slow account opening process

Comprehensive research and advisory services

 

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

Cons

Provides customised financing solutions for small to medium-sized businesses

Higher brokerage fees compared to discount brokers

Extensive network of branches for personalised interactions

 

Comprehensive research and advisory services

 

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

Cons

Competitive margins for intraday and F&O trading

Limited customer support options

Comprehensive research reports

 

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

Cons

Convenient 3-in-1 Account provides convenience of banking, broking, and demat accounts

Higher brokerage fees compared to discount brokers

Diverse service at competitive pricing 

 

Provide personalised guidance 

 

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

Cons

Advanced trading platform with sophisticated tools

Occasional technical issues

Competitive margins for intraday and F&O trading

 

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

Cons

Personalised investment recommendations aligned with client objectives

Limited order types

Wide range of investment products across various asset classes

 

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

Cons

Solid research and advisory offerings

Complex platform for beginners

Wealth & Portfolio management services

 

A lot of brokerage plans 

 

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

Cons

Transparent pricing

Limited products for investment 

Mobile app for Android and iOS

 

Trading account for minor

 

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

Cons

Low non-trading fees

Higher brokerage fees compared to discount brokers

Quick digital account opening with no minimum deposit

 

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

Cons

Offers a wide range of services, including securities brokerage, mutual funds, and wealth management.

Customer support can be difficult to reach at times

Provides international trading services.

 

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

Cons

Low brokerage charges

Research and advisory services are limited

User-friendly platform

 

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

Cons

Competitive brokerage charges

Platform can be slow at times

Strong financial backing

 

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

Cons

Attractive pricing structure

Limited number of order types

Dedicated relationship managers

 

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

Cons

User-friendly trading platform with advanced charting tools

Higher brokerage fees compared to discount brokers

Wide range of investment products across various asset classes

 

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: