Stockbrokers’ comfort and dependability have created a recent trend in trading culture. If you are having trouble locating the top stockbroker in India, then this article can be of great assistance. We have listed the top 10 brokers in India in this article. You can get a quick overview of the best trade and full-service stockbrokers in India from this list. These stockbrokers all provide the greatest trading and demat account services.
Top 10 Brokers in India
1. Zerodha
With more than 4 million customers, Zerodha accounts for 15% of daily retail trading activities on Indian stock exchanges, making it the largest and finest stockbroker in the country. With its no-brokerage approach to investors and flat Rs 20 per trade brokerage cost for intraday and other trades, the company helped the discount brokerage idea gain traction in the Indian equity market. Although competing with major firms like HDFC and ICICI is challenging, Zerodha continues to be ranked first among the top 10 brokers in India.
2. HDFC Securities
HDFC Securities Limited provides a wide range of stockbroking services in addition to the selling of financial products. It is well known for its broad services to a variety of individuals and experienced traders with online as well as offline trading services. Customers of this brokerage company can trade equities, mutual funds, commodities, FDs, bonds, and other securities while enjoying the advantages of trading and investing with a reputable broker.
3. ICICI Direct
Prior to 2019, Zerodha, the leading discount brokerage, has surpassed ICICI Direct in terms of the number of active consumers, with a clientele of more than 2 million. It yet occupies a notable spot among the top 10 brokers in India. This is due to the fact that in addition to the standard stockbroking services and products, it also offers a wide array of insurance products, financial distribution goods, investment banking services, institutional trading, wealth management services, home loans, bonds, fixed deposits, IPO services, NCDs, and loans secured by stock.
4. India Infoline
India Infoline (IIFL), which was founded in 1995, has a sizable network of more than 4,000 branches scattered across more than 900 cities in India. Additionally, it is the parent company of discount broker 5Paisa Securities. A reputable provider of financial services in India, IIFL provides research-based consulting services in addition to quick internet trading. It offers services to invest in and trade in stocks, derivatives, commodities, insurance, FDs, loans, initial public offerings, and bonds, among other things.
5. Kotak Securities
The company was the first stockbroker in the nation to launch Margin Finance for online trading, over-the-phone IPO and mutual fund investments, SMS warnings just before the execution of the depository transaction, Autoinvest, and margin against securities using shares in the Demat account. Kotak Securities Limited, one of the few stockbrokers that offer a 3-in-1 account facility, is known for being out of the ordinary when it comes to providing clients with distinctive services.
6. Motilal Oswal
Mr. Motilal Oswal and Mr. Ramdeo Agrawal are two well-known personalities in the Indian stock market, ranging from sub-brokers to early businessmen in financial services. They are one of the biggest stock-broking entities in this area and concentrate on giving clients high-quality research-based stock recommendations. They are major players in the stock market nowadays. Additionally, they offer advice on areas including wealth management, mutual funds, private equity, investment banking, and portfolio management.
7. Upstox
A number of renowned investors, including Kalaari Capital, Ratan Tata, GVK Davix, and others, support Upstox, a bargain broker that is rapidly expanding. It also goes by the name RKSV. In 2012, RKSV launched Upstox, which changed its name to Upstox in 2015. After Zerodha, Upstox has the second-highest number of active clients in 2021 on the NSE. The business planned to attract another 20–30 million subscribers by 2023, and during the next four–five years, it hopes to reach a total of 100 million users.
8. Angel Broking
Angel Broking provides trading services in equity, futures and options, commodities, and foreign exchange on the BSE, NSE, NCDEX, and MCX. It is present in more than 1800 Indian cities and has over a million users. Although for more than 20 years Angel Broking operated as a full-service broker and charged its clients a 10% brokerage fee. To compete with other rapidly expanding broker firms, they shifted their business model from percentage brokerage to flat charges in Nov 2019.
9. Trade Smart
Discount broker Trade Smart, situated in Mumbai, India, is a fantastic choice for investors and traders seeking a quick trading platform, strong margins, and inexpensive brokerages. Trade Smart Online, in contrast to other cheap brokers, has existed for a while. It is a part of the standard broker in India with over 25 years of experience, VNS Finance & Capital Limited. It has more than 50,000 satisfied customers and an average daily revenue of more than Rs. 5000 crores.
10. Groww
Groww is one of India’s most rapidly emerging trading platforms. Groww was initially established in 2016 as a platform for direct mutual fund investments by a Bangalore-based firm. The company has started providing equities trading in order to keep up with the rise in demand during the pandemic. The firm now provides Trading Exposure, Intraday Services, Trading Services, Trading Services, Demat Services, and Mutual Funds.
Conclusion
That ends the list of top 10 brokers in India. Even though each of these brokers is well-known for providing a unique service, not every broker offers the same kind of customer experience. Furthermore, it can be challenging to determine whether the broker you choose to begin your trading career with is up to par. In addition, not all of India’s over 100 online brokers can be trusted because trading is a highly delicate financial concern and not everybody is reliable.
However, the companies on the list are well-known for their efforts, and their expertise is recognised for providing value for money. If you read the content carefully, you may find the broker you’re looking for.
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