Full Service Broker

Who is a Full-Service Broker?

Full-services brokers have been in the stock broking industry for ages and have made a strong mark. Today we will understand the following points comprehensively, yet in a short and simple language.

  1. Who is a Full-service Broker?
  2. Will a Full-service Broker suit you?
  3. Difference between a Full-service Broker and a Discount Broker?
  4. Top 10 Full-Service brokers in India.

1. Who is a Full-Service broker?

A full-service broker as the name goes provides full or complete services. That is, a full-service broker will assist you right from your first investment to your retirement planning, basically covers all the steps from the beginning of your investment journey till the end.

2. Will Full-Service broker suit you?

If you are a beginner in the stock market, looking for someone to assist you and make your investment journey simpler, then a full-service broker is the place to go. A full-service broker along with providing a trading platform will provide you various add on services which will make your investing journey easy and pleasant. The services are as follows:

  • Assist you with the execution of your trades.
  • Provide investment tips backed by financial research.
  • Suggest you tax-saving tips.
  • Help you manage your portfolio.
  • Provide overall wealth management.
  • Guide you with your retirement planning, etc.

3. What is the difference between a full-service broker and a discount broker?

The below table will brief you the difference between a Full-Service Broker and Discount Broker:

Full-Service Broker Discount Broker
Brokerage rates 0.3% to 0.5% of turnover. Flat fee. For e.g. Rs. 20 per order.
Branches Has huge number of branches. Do not have huge number of branches.
Services Equity Trading, Currency Trading, Mutual Funds, Commodity Trading, Investment Advice, etc. Equity Trading, Currency Trading, Mutual Funds and Commodity Trading.
Margin funding Yes No
Relationship Manager Yes No
Minimum Balance You are required to maintain a minimum balance. Not required.
Advisory Yes No
Financial Planning Yes No
Portfolio Management Service Yes No
Wealth Management Yes No
Initial Public Offering Yes Some select brokers.
Mutual Funds Yes Yes
Transparency High Low
3 in 1 Account
(Trading, Demat & Bank Account)
Yes Some select brokers.

4. Top 10 Discount Brokers in India.

Among an abundance/large number of Full-Service Brokers in India, we have handpicked the Top 10 considering the following factors:

Factors considered while ranking Full-Service Brokers:

  • Trading Platform
  • Brokerage
  • Client Base
  • Services Offered

Following is the list of Top 10 Full-Service Brokers:

Scroll down to know brief information about them :

Rank Broker Name
1 ICICI Direct
2 Kotak Securities
3 Sharekhan
4 IIFL
5 Angel Broking
6 Axis Direct
7 HDFC Securities
8 Motilal Oswal
9 Reliance Securities
10 Edelweiss

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

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

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

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

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

Axis Direct is a full-service broker established in 2011 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

HDFC Securities 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

Motilal Oswal is a full-service broker established in 1987 headquartered in Mumbai, they are depository participant of CDSL and they offer products like:

  • Equity Spot
  • Equity Futures and Options
  • Currency Futures and Options
  • Commodity Futures and Options
  • Mutual Funds
  • Bonds

Reliance Securities is a full-service broker established in 2005 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

Edelweiss is a full-service broker established in 1995 headquartered in Mumbai, they are depository participant of CDSL and they offer products like:

  • Equity Spot
  • Equity Futures and Options
  • Currency Futures and Options
  • Commodity Futures and Options
  • Mutual Funds
  • Bonds




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