Best Stock broker in India | List of Top 10 Stock Brokers (2024)

Due to impressive returns, multiple investment options and easy liquidity, people have been rushing towards stock market and searching the best stock broker in India for investments. If you want help for your investment, here is the complete list of top 10 stock brokers in India. Checkout our detail guide on their features, brokerage charges, demat & trading account and other offerings. This list is prepared by share market experts and the best stock broker team.

Whether you’re an experienced investor or just a beginner, choosing the appropriate stock broker is a choice that can make or break your success. That’s why choosing the right stock broker is very important.

Your ultimate partner in search for the Best Stock Broker in India

Stock brokers are largely referred as agents who are skilled and certified to invest in securities market. They typically act as agents for buyers and sellers of stocks and charge a fee against the delivery of their services. It is necessary to keep in mind that stock broker does not own the securities, They just offer their services to the investors at Lowest brokerage charges.

Top 10 Stock Brokers in India – Their Charges, Features & Offers

Types of Stock Broker/Online Stock Broker

There are primarily two types of stock brokers in India –

1. Discount Brokers – Discount Brokers in India are known to offer better investing tools and low brokerages fee.
2. Full-Service Brokers – A full-service brokerage firm offers personalized recommendations and services and hence comes with a higher fee.

We’ve carefully created a list of top 10 stock brokers in India, each providing a unique combination of services, benefits, and knowledge. This article serves as your road map for understanding the many possibilities available and making a decision that aligns with your financial goals.

List of Best Stock Broker in India 2024

1. Zerodha
2. Upstox
3. 5 Paisa
4. blinkX by JM Financial
5. Angel One
6. ICICI Direct
7. HDFC Securities
8. Groww
9. Sharekhan
10. Motilal Oswal

1. Zerodha

In 2010, Nithin Kamath founded Zerodha, which is now among the top 10 stock brokers in India. Zerodha, headquartered in Bangalore, India, distinguishes itself by low broker fees and advanced trading systems. It is known for providing traders and investors with a wealth of resources for making educated choices including algo trading.

Pros

• Reasonable broker fees
• Advanced trading tools
• A variety of goods and services
• Reliable customer support

Cons

• No Stock Tips or Research Reports
• Limited customer support

Special Feature –

Zerodha has one of the lowest brokerage costs in the Indian stock market and one of the most sophisticated trading platforms accessible.

Service Offered

• Equities
• Derivatives
• Currency
• Commodities
• Mutual Fund Investment
• IPO Investing

Name Of Their Trading Platform

• Kite
• Zerodha Pi
• Console

Brokerage Charges –

2. Upstox

Upstox, previously RKSV, has grown extensively and received investments from valuable businesses, including Kalaari Capital, Ratan Tata, and GVK Davix, to become one of the top 10 stock brokers in India.

Pros

• Best trading broker as it offers No fees for trading
• Swift Creation Of A Paperless Account
• Shareholdings To Assist In Margin Trading
• Affordable Brokerage Fees
• User-Friendly And Intuitive Trading Platform
• Outstanding Client Service

Cons

• No GTC/GTT orders
• Delivery transactions do not offer margin funding.
• Occasionally reported technical concerns with apps
• No Stock Tips or Research Reports

Special Feature –

With its wealth of Educational materials, Upstox is ideal for economic investors looking for a user-friendly platform. It is beneficial for people new to the stock market.

Service Offered

• Equity
• Commodity
• Currency
• Mutual fund
• ETF
• Derivatives

Name Of Their Trading Platform

• • Upstox Pro Web Trading Platform
  • Bridge for AmiBroker
  • Developer Console
  • Option Chain Tool

• Upstox MF Platform

Brokerage Charges –

3. 5paisa

Since 2007, 5paisa, a fast-growing discount broker in India, has continuously placed among the top 10 stock brokers in India. The platform is known for its low costs and large choice of services. It caters to tech-savvy investors searching for low-cost decisions.

Pros

• Fixed-Rate Pricing
• All-in-One Account
• Quick Digital Account Opening
• Free Mutual Fund Account

Cons

• Margin Funding Challenges
• High charges for Demat account debit
• Higher Exchange Transaction Charges

Special Feature –

The reasonable fixed-rate price of ₹20 per transaction makes it an excellent option for investors and traders on a budget.

Service Offered

• Equities
• Currency
• Commodities
• Mutual Fund Investment
• IPO Investing

Name Of Their Trading Platform

• Investor terminal web platform
• Trader terminal
• 5Paisa share trading mobile app.

Brokerage Charges –

4. blinkX by JM Financial

Meet BlinkX, the modern investment platform redefining the landscape of financial stockbroking services. Built on a foundation of customer satisfaction and cutting-edge technology, BlinkX is the latest offering from JM Financial. This innovative trading app equips users with state-of-the-art tools and real-time data, empowering them to make smarter investment choices.

JM Financial Services, an integral part of the JM Financial Group with over 50 years of experience, specializes in Investment Advisory and Wealth Management tailored for non-institutional clients.

Pros –

• No Fund Transfer Charges
• Call and Trade in free
• Dedicated Relationship Manager
• Advanced trading App
• Research Calls
• Margin trading facility

Cons –

• No Website Terminal
• No US stock investment
• No Commodity Trading

Special Feature

Watchlist Rotate option, Heatmap, Trade Unlimited in NSE FNO, Delivery, Intraday, IPO Subscription plan starting from Rs 199 for 2 months and Rs 799 for 6 months.

Service Offered

• Equities
• Derivatives
• Currency
• Mutual Fund Investment
• IPO Investing
• ETFs

Name Of Their Trading Platform

BlinkX Mobile App

5. Angel One

Angel One, formerly Angel Broking, is considered among the top 10 stock brokers in India. Since 1987, Angel One has more than 30 years of experience (and has built a strong reputation for its commitment to providing financial services and investment opportunities to retail and institutional clients).

Pros

• Full-service at rock-bottom prices
• Beginner training available
• Trading on margin with collateral
• Stock And Mutual Fund Tips Or Research Reports

Cons

• Margin financing through surprise
• No trading in SMEs’ shares
• RM and sales team cross-sell
• No GTC/GTT orders

Special Feature

One of the best stock broker in India, Angel One is an excellent choice for investors seeking a comprehensive and reputable brokerage firm that offers various financial services, research support, and user-friendly trading platforms.

Service Offered

• Equity
• Derivatives
• Commodity
• Currency
• Mutual Funds
• IPO Investments
• US stocks

Name Of Their Trading Platform

• Angel iTrade
• Angel SpeedPro
• Angel Broking App
• Angel BEE

Brokerage Charges –

6. ICICI Direct

One of the topstock brokers in India, ICICI Securities, provides a retail trading and investing platform called ICICI Direct. Since its founding in 2000, ICICI Direct has built a solid reputation for offering various financial goods and services.

Pros

• 3-in-1 Trading Account
• Immediately available funds
• Various Investment Possibilities
• Dual Stock Exchange Access

Cons

• Very Expensive Brokerage Fees
• Minimum Brokerage Charge
• Fees for Trading Penny Stocks
• Extra charge for Call Trade

Special Feature –

ICICI Direct provides a single access point for all your financial needs. This thorough strategy can boost comfort and streamline your financial path.

Service Offered

• Equities
• Derivatives
• Currency
• Commodities
• Mutual Fund Investment
• IPO Investing
• Fixed Deposits
• Government Bonds
• NCDs
• ETFs
• Loan Against Shares

Name Of Their Trading Platform

• Trade Racer
• ICICI Direct Mobile Trading App

Brokerage Charges –

7. HDFC Securities

One of the best trading company in India is known by the name HDFC Securities in the Indian brokerage sector. HDFC Securities is a division of HDFC Bank. Since its establishment in 2000, HDFC Securities has grown significantly and now offers various financial services, such as stockbroking, mutual funds, and more.

Pros

• 3-in-1 Trading Account
• Various investment options on a single platform
• Best broker for Trading in India as it allows both stock exchanges
• User-Friendly And Intuitive Trading Platform

Cons

• High, fixed brokerage charges
• No commodity trading (MCX and NCDEX)
• You must have an HDFC Bank account for 3-in-1 accounts
• An increased minimum brokerage of ₹25 per trade is particularly burdensome for low-value transactions.

Special Feature –

It is practical for various investors because of its straightforward 3-in-1 accounts and wide range of investment alternatives.

Service Offered

• Equity
• Derivatives
• Currency
• Commodity
• Mutual funds
• Insurance
• IPOs
• Bonds
• PMS
• NCDs
• ETFs
• Loans against securities

Name Of Their Trading Platform

• Blink
• ProTerminal
• HDFC Securities Mobile Trading App

Brokerage Charges –

Account Opening Charges – ₹999

8. Groww

Groww is a rising star among the top 10 stock brokers in India, known for its user-friendly layout. Groww, founded in 2016, makes a straightforward investment by making financial goods easily accessible.

Pros

• Simple Pricing
• Free Account Opening
• Zero Demat AMC Charges
• Quick Paperless Account Opening

Cons

• Limited Investment Products
• No Call and Trade Services
• No Stock Tips or Research Reports
• No Margin Trading Facility

Special Feature –

With a set brokerage fee of just ₹20 per trade, Groww, offers investors and traders a bargain choice. Execute deals with assurance, knowing that the clear, reasonable cost structure won’t harm your outcomes.

Service Offered

• Equity
• Derivatives
• IPO
• Fixed Deposits
• Direct Mutual Funds
• US Stocks

Name Of Their Trading Platform

• Groww Web Trading Platform
• Groww Mobile Trading App

Brokerage Charges –

9. Sharekhan

Sharekhan, founded in 2000, has a solid reputation in the Indian brokerage business. Positioned among the top 10 stock brokers in India and provides various investment services, such as portfolio management, mutual funds, derivatives, and stocks. Because of its valuable research and counseling services reputation, Sharekhan is a go-to alternative for many investors.

Pros

• User-Friendly And Intuitive Trading Platforms
• Flexible Brokerage Slabs
• Comprehensive Training and Education
• Free Fund Transfers and DP Transactions

Cons

• No 3-in-1 Account.
• Percentage-Based Brokerage Charges
• Minimum Brokerage Charges
• Limited Trading for Classic Account Holders

Special Feature –

Budget investors may find Sharekhan an appealing option because of its adaptable brokerage slabs that cater to traders of all experience levels.

Service Offered

• Equities
• Derivatives
• Currency
• Commodities
• Mutual Fund Investment
• IPO Investments
• PMS
• Depository Services

Name Of Their Trading Platform

• Trade Tiger
• Sharekhan web
• Sharekhan mobile app
• ComMobile Pro
• InstaMf App

Brokerage Charges –

Account Opening Charges – zero

10. Motilal Oswal

Motilal Oswal is a well-known full-service brokerage company founded in India in 1987. The organization, which offers various investing alternatives such as shares, commodities, mutual funds, and more, is renowned for its research-driven methodology. It has built a reputation as one of the best stock brokers in India for its wealth management and counseling services.

Pros

• 35+ years of experience
• Free Equity Intraday Trading for Lifetime
• Free 1st Month FnO Brokerage up to ₹1,000
• Wide investment options

Cons

• High brokerage charges
• No 3-in-1 account.

Special Feature –

With its many investment options, free intraday trading, and decades of experience, Motilal Oswal is appealing as best broker for trading in India.

Service Offered

• Equities
• Commodities
• Currency
• Mutual Fund Investment
• IPO Investing
• Fixed Deposits
• SIPs

Brokerage Charges –

• Motilal Oswal trade
• Desktop trading platform
• Web trading platform
• Mobile app

Charges For Resident Individual Accounts

Account Opening Charges – zero

Do remember that:
When it comes to choose the best stock broker, there is no one ideal choice for every investor. It majorly depends on one’s personal needs, services and features offered, we details the list of registered best stock brokers in India. If you don’t want to pay high brokerage, online discount brokers are the best option. However, if you need advice from the best stock advisor in India and you’re a high frequency trader, it is better to consider a full-service broker.

Best Broker for Trading – Best Stock Broker in India

If you are searching for the major stock brokers in India for your fast, affordable and secure trading needs, here we have mentioned all top brokers in India with their trading charges.

Factors to consider while choosing Best stock broker in India

To make it easy for you to choose the right stock broker, here are some of the most prominent factors that must be kept in mind while browsing through a wide range of top stock brokers in India operating in the market.

1. Broker’s History

Before choosing the Best broker in India, it is necessary to carry out a detailed background check on the brokerage firm. Go through client testimonials and ratings, check their history, charges and reputation. Researching every small detail will make sure that you have chosen the best stock broker.

2. Commission Cost

This is another most crucial factor in selecting the top brokers in India. It is necessary to note that the commission of a broker makes an impact on the return you get. It makes a great sense to check out and compare the commission cost of different brokers before opening an account.

3. Trading Platform

To carry out stock trading online, a trading platform or software is facilitated by the Best stock broker in India. It refers to the platform you are using must be user-friendly, stable and fast.

4. Customer Support

A broker providing an exemplary customer support service definitely has an upper hand over the others and can be considered as the top brokers in India. Customers typically choose brokers, who are rapid to respond to their questions.

5. 5. Trading tools and education

The best brokerage firm in India generally provide educational materials including videos, article, webinars, e-courses, and seminars at no extra cost.

6. Regulation

Proper regulation helps to ensure that the top brokers in India are well exploited in the unforeseen event of a trading loss. It is advisable that you choose the best online stock broker in India who has a clean regulatory record.

FAQs

1. Which is the best discount broker in India?

Ans– Zerodha with a magnificent rating of 9.6, stands as the best discount broker and one of the top 10 stock brokers in India. The best part about Zerodha is its affordable brokerage charges which don’t burn a hole in the trader’s pocket. The affordable brokerage increases the broker’s revenue and is making stock broking accessible to the common man.

2. Who is the best stock broker in India?

Ans– If you are looking for Best share Broker in India, Here is the complete List, Angel One is ideally India’s top stock brokers with excellent rating 9.5 out of 10 by the users. It leaves no stone unturned in easing its customer’s trading experience and has a full-fledged arsenal of tools and widgets for assisting them with trade.

3. Which stock broker has the best advisory, research, and stock tips facility?

Ans– India Infoline abbreviated as IIFL is trusted by the traders for dedicated advice, having a rating of 8.9. IIFL, one of the top stock brokers in India has accurately and precisely extracted the perfect information on various stock’s performance and their prospects in marketing conditions.

4. Which stock broker has the lowest brokerage charges?

Ans– 5 paisa has the lowest brokerage charges amongst all stock broking companies. Brokerage is an essential factor for traders and investors as it decides the magnitude of their profits and final income. People generally don’t want to lose their fair share of money and 5 paisa takes care of such needs.

5. Which broker is safest in India?

Ans– Zerodha is clear winner with a rating of 9.4. Along with being fast and most secured stock broker, It also provides best-in-class features such as stock recommendations, data streaming, and watch lists which ease the trader’s experience and simplify things for them.

Disclaimer: This blog is written for educational purpose only. Data, Securities, Advisory and Quotes mentioned here are for guidance only. Doing research by investors itself is highly recommended.