Top 10 stock brokers in India

Top 10 stock brokers in India

Did you know? In India, there are 287 Stock Brokers (Full-Service and Discount) according to National Stock Exchange. Out of these 287 brokers, we have handpicked Top 10 Stock Brokers based on trading platform, brokerage, client base, account opening charges, annual maintenance charges and services offered.

Who is a Broker?

Broker is a person or entity that helps its clients to buy and sell shares in the stock market. For providing this service they charge a fee called brokerage. Brokerage is charged differently depending on the type of broker one chooses. There are two types of brokers

  1. Full-Service Broker: Full-service broker is a broker who provides comprehensive yet exclusive services to their clients such as financial research, market tips, retirement planning, tax-saving tips and the like. Full-service brokers are best suited for amateurs with minimal or no knowledge as they usually assign exclusive financial advisors to their clients who direct and assist the clients to buy and sell shares, manage portfolios, wealth management services, etc. and obviously all this comes with hefty brokerage.
  2. Discount Broker: Discount broker is a type of stockbroker who helps clients buy and sell shares at a reduced or fixed rate. Unlike full-service brokers, discount brokers do not provide investment tips or analyses to their clients. They just provide a trading platform through which the clients can buy and sell the shares as per their preference. Discount brokers are most suitable for independent traders or investors who do not want to depend on others for tips or investment advice. Investors or traders who are actively trading on a regular basis mainly choose to go for discount brokers as discount brokers charge lower brokerage or fixed brokerage.

Following is the list of Top Stock Brokers:

Scroll down to know brief information about them :

Rank Broker Name
1 Zerodha
2 ICICI Direct
3 ShareKhan
4 5Paisa
5 Kotak Securities
6 Upstox
7 IIFL
8 Angel Broking
9 Fyers
10 Tradejini

Zerodha is a discount broker established in 2010, headquartered in Bangalore. They are depository participant of CDSL and offer products like :

  • Equity Spot
  • Equity Futures and Options
  • Currency Futures and Options
  • Commodity Futures and Options
  • Mutual Funds
  • Bonds
Total Clients AOC AMC Brokerage Margin Trading Platform
15+ Lakhs 300 300 Rs.20 or 0.01% WIL Upto 28x on
Equity Cash
&
Upto 7x on
FNO
Desktop, Web &
Mobile

ICICI Direct is a full-service broker established in 2000 headquartered in Mumbai, they are depository participant of NSDL & CDSL and they offer products like:

  • Equity Spot
  • Equity Futures and Options
  • Currency Futures and Options
  • Commodity Futures and Options
  • Mutual Funds
  • Bonds
  • Fixed Deposits
Total Clients AOC AMC Brokerage Margin Trading Platform
26+ Thousand 975 700 Rs. 15 or 2.5% of turnover WIL Upto 28x on
Equity Cash
&
Upto 7x on
FNO
Desktop, Web & Mobile

Sharekhan is a full-service broker established in 2000, headquartered in Mumbai. They are depository participant of NSDL and they offer products like:

  • Equity Spot
  • Equity Futures and Options
  • Currency Futures and Options
  • Commodity Futures and Options
  • Mutual Funds
  • Bonds
Total Clients AOC AMC Brokerage Margin Trading Platform
16+ Thousand 0 450 0.1% of turnover Upto 32x on
Equity Cash
&
Upto 15x on
FNO
Desktop, Web &
Mobile

5Paisa is a discount broker established in 2016 , headquartered in Mumbai. They are depository participants of NSDL & CDSL and offer products like:

  • Equity Spot
  • Equity Futures and Options
  • Currency Futures and Options
  • Commodity Futures and Options
  • Mutual Funds
  • Bonds
Total Clients AOC AMC Brokerage Margin Trading Platform
2.5+ Lakhs 650 400 Flat Rs.10 Upto 20x on
Equity Cash
&
Upto 3.5x on
FNO
Desktop, Web &
Mobile

Kotak Securities is a full-service broker established in 1994, headquartered in Mumbai. They are depository participant of NSDL & CDSL and they offer products like:

  • Equity Spot
  • Equity Futures and Options
  • Currency Futures and Options
  • Commodity Futures and Options
  • Mutual Funds
  • Bonds
  • Fixed Deposits
Total Clients AOC AMC Brokerage Margin Trading Platform
13.5+ lakhs 0 999 0.49% of turnover Upto 15x on
Equity Cash
&
Upto 5x on
FNO
Desktop & Mobile

Upstox is a discount broker established in 2012, headquartered in Mumbai. They are depository participant of CDSL & NSDL and offer products like:

  • Equity Spot
  • Equity Futures and Options
  • Currency Futures and Options
  • Commodity Futures and Options
  • Mutual Funds
  • Bonds
Total Clients AOC AMC Brokerage Margin Trading Platform
2+ Lakhs 0 150 Rs.20 or 0.01% WIL Upto 20x on
Equity Cash
&
Upto 3x on
FNO
Desktop, Web &
Mobile

IIFL is a full-service broker established in 2000 headquartered in Mumbai, they are depository participant of CDSL and tehy offer products like:

  • Equity Spot
  • Equity Futures and Options
  • Currency Futures and Options
  • Commodity Futures and Options
  • Mutual Funds
  • Bonds
  • Fixed Deposits
Total Clients AOC AMC Brokerage Margin Trading Platform
40+ lakhs 0 After 5 years Rs. 400 0.05% of turnover Upto 15x on
Equity Cash
&
Upto 12x on
FNO
Desktop & Mobile

Angel Broking is a full-service broker established in 1987 headquartered in Mumbai, they are depository participant of NSDL and they offer products like:

  • Equity Spot
  • Equity Futures and Options
  • Currency Futures and Options
  • Commodity Futures and Options
  • Mutual Funds
  • Bonds
Total Clients AOC AMC Brokerage Margin Trading Platform
11+ lakhs 0 531 Rs.15 - Rs. 30 per order Upto 48x on
Equity Cash
&
Upto 35x on
FNO
Desktop, Web & Mobile

Fyers is a Discount Broker established in 2015, headquartered in Bangalore. They are depository participant of CDSL & NSDL and offer products like:

  • Equity Spot
  • Equity Futures and Options
  • Currency Futures and Options
  • Commodity Futures and Options
  • Mutual Funds
  • Bonds
Total Clients AOC AMC Brokerage Margin Trading Platform
9+ Thousand 0 400 Rs.20 or 0.01% WIL Upto 28x on
Equity Cash
&
Upto 4x on
FNO
Desktop, Web &
Mobile

Tradejini is a discount broker established in 2012, headquartered in Bangalore. They are depository participant of CDSL and offer products like:

  • Equity Spot
  • Equity Futures and Options
  • Currency Futures and Options
  • Commodity Futures and Options
  • Mutual Funds
  • Bonds
Total Clients AOC AMC Brokerage Margin Trading Platform
20+ Thousand 300 400 (5 yr) Rs.20 or 0.01% WIL Upto 30x on
Equity Cash
&
Upto 6x on
FNO
Desktop, Web & Mobile




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