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. 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. It is one of the top 10 brokers in India.
2. 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 among the top 10 brokers in India.
3. 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.
4. 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.
5. 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.
6. 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.
7. 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.
8. 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.
9. SBICAP Securities Limited
SBICAP Securities Limited has a strong backing by the State Bank of India, offering unmatched trust and credibility. It provides a wide range of financial services, including equity trading, derivatives, mutual funds, and IPO investments, all integrated with SBI’s banking services for seamless transactions. Its advanced trading platforms, robust research reports, and responsive customer support make it ideal for both beginners and experienced investors. The competitive brokerage rates and nationwide reach further strengthen its position.
10. Paytm Money Limited
Paytm Money Limited offers a low-cost, digital-first investment solutions tailored for retail investors. Backed by the trusted Paytm brand, it provides a user-friendly platform for investing in stocks, mutual funds, ETFs, and NPS with minimal brokerage fees. Its intuitive mobile app simplifies investing for beginners while offering tools like real-time market data and portfolio tracking. With seamless integration across the Paytm ecosystem, fast account opening, and access to educational content, it makes building wealth convenient and easy.
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.
Also Read:
Business Talk is a digital business magazine that caters to CEOs, Entrepreneurs, VC, and Corporates. While working with entrepreneurs and business executives, we focus not only on their achievements. Our mission is to shed light on business entities, including their innovations, technological benchmarks, USPs, and milestones/accolades.
