When it comes to choosing the top & best stock broker in India, there are several options available, each with its unique features and offerings. Some of the popular stock brokers in India include Zerodha, Upstox, 5Paisa, Motilal Oswal, Sharekhan, IIFL, Angel Broking, ICICI Direct, HDFC Securities, Kotak Securities, and more.
When evaluating the best stock brokers in India, several criteria should be considered. It’s important factors such as brokerage fees and commissions, trading platforms, research and analysis tools, customer reviews, and support before choosing a stock broker. To find the best fit for your investment needs and preferences, it’s recommended to compare and evaluate different stock brokers based on these factors.
Find Top Online Stock Broker For You!
In India, stock brokers are regulated by the Securities and Exchange Board of India (SEBI) and are required to comply with regulatory guidelines and maintain ethical business practices. There are different types of stock brokers, including full-service brokers, discount brokers, and online brokers, each offering different services and fee structures.
Ultimately, the best stock broker in India will depend on individual preferences and investment goals. It’s important to carefully evaluate different brokers based on their reputation, range of services, fees, and platform features before making a decision.
Our Top Pick Stockbroker in India 2023
Who is a Stock Broker?
A stock broker is a professional who buys and sells securities, such as stocks, bonds, and mutual funds, on behalf of clients in exchange for a fee or commission. They act as intermediaries between buyers and sellers and provide services such as market analysis, investment advice, and portfolio management. They are regulated by the Securities and Exchange Board of India (SEBI government agencies) and must adhere to strict guidelines to ensure the safety and security of their client’s investments.
In India, There are Mainly Two Categories of Stockbrokers:
#1. Discount Stock Broker: A discount broker is a type of stock broker that charges lower fees and commissions compared to traditional full-service brokers. They typically offer a no-frills approach to trading, with limited research and advisory services, and may rely on online platforms for self-directed investors who want to buy and sell stocks at a lower cost.
#2. Full-service Stock Broker: A full-service stock broker is a type of broker that offers a range of investment services and advice to clients, including research and analysis, financial planning, and portfolio management. They typically charge higher fees and commissions compared to discount brokers but offer more personalized guidance and support for investors.
There are several top stock brokers in India, each with its unique features and offerings. Here are some of the best stock brokers in India, based on their popularity, customer reviews, and features.
List of Top 15 Stock Brokers in India 2023
Broker Name | Over all Ratings | Account Opening Charge | Account Maintenance Charge | Equity Delivery Brokerage | Equity Intraday Brokerage |
1. Zerodha (Discount Broker) | Rs. 200 (Equity) Rs. 100 (Commodity) | Rs. 300 Per Annum | Zero | 0.03% on order value, Upto 20 | |
2. Upstox (Discount Broker) | FREE | Rs. 150 per annum | 2.5% on order value, upto 20 | 0.05% on order value, Upto 20 | |
3. 5Paisa (Discount Broker) | FREE | Rs. 300 Per Annum | 10 Per Order | 10 Per Order | |
4. HDFC Securities (Full-Service Broker) | FREE | FREE | 0.18% On Order Value | 0.18% On Order Value | |
5. Kotak Securities (Full-Service Broker) | FREE | Rs. 600 Per Annum | ZERO | ZERO | |
6. Sharekhan (Full-Service Broker) | FREE | Rs. 400 Per Annum | 0.2% On Order Value | 0.2% On Order Value | |
7. Angel One (Discount Broker) | FREE | Rs. 240 Per Annum | ZERO | 0.25% on order value, Upto 20 | |
8. Motilal Oswal (Full-Service Brokers) | Free | Rs. 199 Per Annum | 0.35% On Order Value | 0.35% On Order Value | |
9. Axis Direct (Full-Service Broker) | Rs. 499 | Rs. 790 Per Annum | 0.50% On Order Value | 0.50% On Order Value | |
10. SBICap Securities | Rs. 850 | Rs. 750 Per Annum | 0.50% On Order Value | 0.075% On Order Value | |
11. India Infoline (Full-Service Broker) | FREE | Rs. 250 Per Annum | ZERO | 20 Per Order | |
12. ICICI Direct (Full-Service Broker) | FREE | Rs. 700 Per Annum | 0.18% On Order Value | 0.18% On Order Value | |
13. Geojit BNP Paribas | FREE | FREE | 0.30% On order value | Rs 20 per trade or 0.03% On order value | |
14. Wisdom Capital | Rs. 999 for a lifetime | Free | 0.05% On Order Value | 0.01% On Order Value | |
15. Edelweiss (Full-Service Broker) | FREE | Rs. 500 Per Annum | 0.30% On Order Value | 0.03% On Order Value |
Top 15 Best Stock Broker In India 2023 (Review & Comparison)
In this discussion, we will explore some of the top stock brokers in India. It is important to note the best stock brokers in India, as choosing the right firm is essential. By comparing different brokers on various criteria, investors can make an informed decision and determine which company deserves the title of the best stock broker in India.
1. Zerodha
Zerodha is a discount broker often regarded as the first and the most successful one in the country.
Some even prefer calling it the best stock broker in India. Nithin Kamath, the founder of the company started in 2010 has managed to make the company one of the most prominent and popular names among the best stock broker in India.
In terms of the customer base, Zerodha has the highest number of customers registered with the firm which makes it most appealing to other customers because it implies the quality of products and is marked as the best stock broker in India.
Charges & Fee:
- Equity Delivery Trading – Free
- Equity Intraday Trading – Rs. 20/ order
- Commodity Trading – Rs. 20/order
- Minimum Brokerage – Free
- Demat AMC Charges – Rs. 300/annum
- Trading AMC Charges – Free
The charge-free equity delivery has been the most prominent policy of the firm since December 2015. Hence, there is no brokerage charge which stands out and defines Zerodha as the best stock broker in India as well a Discount Broker.
Zerodha Trading Platforms:
- Kite 3.0 (Web-based Trading Platform): Kite 3.0 is a web-based trading platform developed by Zerodha. It offers advanced charting tools, real-time market data, and a customizable user interface. The platform is designed to provide a fast and seamless trading experience for traders of all levels.
- Kite 3.0 Mini (Mobile Trading App): Kite 3.0 Mini is a mobile trading app developed by Zerodha, designed for traders on the go. It offers a range of features including real-time market data, advanced charting tools, and an intuitive user interface. The app is available for both Android and iOS devices.
- Zerodha Pi (Desktop-based Trading platform): Zerodha Pi is a desktop-based trading platform developed by Zerodha. It offers advanced charting tools, backtesting capabilities, and a range of order types. The platform is designed to provide a comprehensive trading experience for traders with advanced needs.
Pros & Cons of Zerodha:
Pros
- India’s largest stockbroker.
- 6 million + Active Customers – the highest in India.
- Zero brokerage on delivery trades.
- The maximum brokerage for other segments is capped at Rs 20.
- 100% open online account – no paperwork.
- Easy to understand the brokerage structure.
Cons
- Calls and trades are paid at a rate of 50 rupees per trade.
- Not a 3-in-1 Account.
- Slow account opening process
2. Upstox
Upstox is a discount broker private company that has its headquarters in Mumbai. The company started under the name of RKSV and later was changed to Upstox. Being one of the best stock brokers in India it offers a variety of retail products and services in the stock market.
The firm was established in the year 2011, by Raghu Kuma, Ravi Kumar, and Shrinivas Vishwanath and in lesser time has become the best stockbroker in India. The services are usually low costing and the trading is offered upon various categories like equities, currency, futures, etc.
The trading platform by Upstox is designed to provide customers with a user-friendly and seamless experience with their hassle-free services making them the best stock broker in India.
Charges & Fee:
- Equity Delivery Trading – Free
- Equity Intraday Trading – Rs. 20
- Commodity Options Trading – Rs.20
- Minimum Brokerage – Rs. 20
- Demat AMC Charges – Rs. 150/ annum
- Trading AMC Charges – Free
The cost of opening a trading account with Upstox is nill and that is for trade-in equity delivery as well. Therefore, the company is one of the top stock brokers in India.
Upstox Trading platforms:
- Upstox Pro Web (Web-based Trading platform): Upstox Pro Web is a web-based trading platform developed by Upstox, an Indian discount brokerage firm. It provides advanced charting tools, real-time market data, and a customizable user interface. The platform is designed to offer a fast and seamless trading experience for traders of all levels.
- Upstox NEST Trader (Desktop-based Trading Platform): Upstox NEST Trader is a desktop-based trading platform offered by Upstox, an Indian discount brokerage firm. It provides a comprehensive set of features, including advanced charting tools, market watchlists, and customizable dashboards. The platform is designed for active traders and offers direct market access to multiple exchanges.
- Upstox Pro Mobile (Mobile Trading App): Upstox Pro Mobile is a trading app that allows users to invest in stocks, mutual funds, futures, options, and more. It provides real-time market data, customizable charts, and a user-friendly interface. The app is available on both iOS and Android devices.
Pros & Cons of Upstox:
Pros
- One of the first brokerage firms in India to provide discount brokerage services.
- Zero Brokerage on Delivery trades is backed by the likes of Mr. Ratan Tata.
- Free demat account opening (limited time offers).
- 100% online account opening.
Cons
- The cost of a call and trade is (₹50 + 18% GST) per order.
- Good orders Till Cancelled (GTC) Up to aren’t provided in the Delivery segment.
- No 3-in-1 account.
- Slow account opening process.
3. 5Paisa
5Paisa is a public sector discount broker in India which has become one of the best stock brokers in India in no time. 5Paisa was established in the year 2016 by Prakash Gagdani and within just a few years the firm has grown to be a popular name among stockbroking companies.
The reason behind this is mainly the low brokerage charges followed by quality service. It has recorded more than 30 lakh plus customers. The firm is also dedicated to starting with funding loans and developing new products such as IPOs, NCDs, etc.
However, it doesn’t have other branches and offices in different parts of the world other than the one in Mumbai still, has managed to become the best stock broker in India.
Charges & Fees:
- Equity Delivery Trading – Free
- Equity Intraday Trading – Rs. 20/order
- Commodity Options Trading – Rs.20/order
- Minimum Brokerage – Rs.10 (for smart trade)
- Demat AMC Charges – Rs. 400/ annum
- Trading AMC Charges – Free
Looking at the above charges and fees, it is quite certain that the minimum brokerage charge has helped them in becoming the best stock broker in India.
5Paisa Trading Platforms:
- Trader Station Web(web-browser trading platform): 5paisa Trader Station Web is a web-based trading platform that allows users to trade in stocks, commodities, currencies, and derivatives. It offers real-time market data, advanced charting, and analysis tools. The platform is accessible through a web browser and does not require any software installation.
- Trade Station EXE (desktop-based trading platform): 5paisa Trade Station EXE is a desktop-based trading platform that allows users to trade in stocks, commodities, currencies, and derivatives. It offers advanced charting, analysis tools, and real-time market data. The platform can be downloaded and installed on a desktop computer for a seamless trading experience.
- 5Paisa App (Mobile Trading App): 5Paisa App is a mobile trading app that allows users to invest in stocks, mutual funds, and other financial instruments. It offers real-time market data, advanced charting, and analysis tools. The app is available on both iOS and Android devices and provides a user-friendly interface for a seamless trading experience.
Pros & Cons of 5paisa:
Pros
- Brokerage plans are very profitable, with Rs 20 per executed order.
- It is possible to invest in IPOs, mutual funds, as well as insurance.
- In the case of discount brokers, case studies and tips are given, which is unusual.
- 100% online account opening.
- Free trading platforms for web, desktop, and mobile.
Cons
- Fixed monthly brokerage plans are not available.
- The suggestions are primarily robotic in nature and are solely dependent on their techniques.
- Average customer service.
- No 3-in-1 account.
4. HDFC Securities
HDFC Securities is a product of HDFC Bank which is solely devoted to the trading business and clearly one of the best stock brokers in India. It offers online trading services even through mobile phones and has become of the best stock broker in India.
It is a public sector full-service broker commencing from the year 2000. One of the design features of HDFCSecurities is the availability of the 3-in-one account which is the trading account, Demat account, and bank account all combined in one single account.
Being the best stock broker in India, the firm provides a variety of products and services in terms of the stock market such as Day trading, Cash-n-Carry, online IPO investment, etc.
The brand value of HDFC Bank does affect the popularity of HDFC Securities by proving trust and dependency among customers which motivated the firm to reach the best stock broker in India position.
Charges & Fees:
- Equity Delivery Trading – 0.505
- Equity Intraday Trading – 0.05%
- Commodity Options Trading – Free
- Minimum Brokerage – Rs. 25
- Demat AMC Charges – Rs. 300/ annum
- Trading AMC Charges – Rs. 500/ annum
However, sometimes the brokerage rate for the services differs from the given rate depending on the type of service. The amount users can store as margin money is Rs. 25,000 at all times. But all in all the firm is a success and the best stock broker in India.
Pros & Cons of HDFC Securities:
Pros
- available 3-in-1 Accounts.
- HDFC Securities is a well-established and trusted brand in the Indian stock market.
- They offer a wide range of investment options including stocks, mutual funds, bonds, and more.
- They have a dedicated customer support team that is available through various channels including phone, email, and live chat.
Cons
- Their brokerage charges are relatively higher compared to some of their competitors.
- Account opening costs are high.
- This makes it very difficult to trade in penny stocks.
5. Kotak Securities
Kotak Securities is a brokerage firm with a label of being unconventional with its services and products. The firm has showcased new-age technology and innovative ideas when it comes to stock broking modules.
The company began its work in the year 1994 and is rising to become one of the best stock brokers in India. It is undeniable that the reach of Kotak securities is far stretched due to their 1200 branches all over the country and a customer base of over six lakhs. In terms of innovative ideas and the use of technology.
Kotak Securities gave birth to the idea of a mobile tracking app for all trading investments which was creative and grasped much attention in the market and so the firm was famously termed the best stock broker in India.
They launch a Mobile Stock Trading App that helped customers track their recent and previous investments with just a few clicks. Along with this they also introduce the SMS alert service for customer reminders. Their vast no. of services has helped them in becoming the best stock broker in India.
Charges & Fees:
- Equity Delivery Trading – For standard plan – 0.49%, Free Intraday plan – 0.49%
- Equity Intraday Trading – For standard plan – 0.049%, Free Intraday plan – Rs. 999/ annum
- Commodity Options Trading – For standard plan- Free, Free Intraday plan – FRee
- Minimum Brokerage – For standard plan- Rs. 21/trade, Free Intraday plan – Rs. 21 per day
- Demat AMC Charges- For standard plan- Free/Rs.300, Free Intraday plan – Free/Rs.300
- Trading AMC Charges – For standard plan – Rs. 500/ annum, for Free Intraday plan – Free
Pros & Cons of Kotak Securities:
Pros
- Provide a 3-in-1 Demat account that allows for the smooth transfer of funds.
- Both investing options are available under one roof.
- Above-average exchange sites, as well as support for traders with poor internet connections.
- Online chat with the support staff is available.
Cons
- There is little funding for the product market.
- Brokerage fees are excessive, particularly as compared to other full-service brokers.
- Account opening fees are high.
6. Sharekhan
Sharekhan is one of the best stock brokers in India. It is a public-type full-service broker which is considered to be the best online trading and best stock broker in India. It is often said that Sharekhan primarily spread the whole concept of online trading in the country.
Hence, is considered to be the top full-service broker in the country. The firm was established in the year 2000 by its founder Shripal Morakhia and in no time became the best stock broker in India.
Today Sharekhan has a customer base of more than 1.4 million which contributes comprehensively to the success of the firm. It has 1850 offices in the country along with some international brands.
Some of the investment categories are IPOs, mutual funds, Demat accounts, etc which adds to the inclusion of the firm as the best stockbroker in India.
Charges & Fees:
- Equity Delivery Trading – 0.5%
- Equity Intraday Trading – 0.1%
- Commodity Trading – 0.1%
- Demat AMC Charges – Rs. 300/ annum
- Trading AMC Charges – Free
One unique feature of the firm is that offers both Pre-Paid and Post-Paid Plans. The brokerage for these plans is minimum based on the service and the margin amount and the firm is counted among the best stock broker in India.
Pros & Cons of Sharekhan:
Pros
- It is absolutely free to open to call and trade.
- There are no fees for transferring funds from a bank to a trading account or vice versa.
- Free online trading classes for beginners and experienced traders.
- It has a wide presence across India and can be accessed from all major cities.
- Prepaid brokerage plans are available to reduce brokerage costs.
- Sharekhan has one of the best trading platforms available (Trade Tiger).
Cons
- Sharekhan does not offer a three-in-one Demat account.
- There is no choice to position orders after trading hours.
- Commodity exchange services are not available to traditional account holders.
- Brokerage fees are far higher than the Rs 20 charged by Zerodha.
- It outperforms even other full-service brokers like Motilal Oswal.
7. Angel One
Angel One is a private company-type full-service broker which has its name among one of the best stock brokers in India. The firm began in the year 1987 by its founder Dinesh Thakur.
The strong points of the firm are its high rating in terms of experience in the stock business as well as its high-quality advisory team that continuously helps customers with stock trading and other modules.
Angel One is registered with CDSL as a Depository participant. Also, the firm is legally a part of the Bombay Stock Exchange and the National Stock Exchange. The customer base of the firm is approx 1 million with offices in a thousand cities and clearly, the company is among the best stock broker in India.
Charges & Fee:
- Equity Delivery Trading – Free
- Equity Intraday Trading – Rs. 20/order
- Commodity Options Trading – Rs. 20/ order
- Minimum Brokerage – Rs. 20/ order
- Demat AMC Charges – Free/ Rs.300
- Trading AMC Charges – Free
The firm has a rate of Rs. 20/ order for all services but equity delivery. This service is termed Angel i-Trade Prime. Angel Broking is yet again one of the best stock brokers in India.
Pros & Cons of Angel One:
Pros
- Trading websites with advanced features.
- One of India’s most reputable brands.
- Artificial Intelligence (AI)-based investment fund.
- Sub-dealers and franchises form a large part of the company’s network.
- Research analyses and advice are provided by a great team of financial experts.
- Do not charge for NEFT/fund transfers. (Others charge ~Rs 10 per).
Cons
- There is a fee of Rs 20 on all calls and trades.
- Not Available 3-in-1 Accounts.
- Angel One doesn’t offer to trade in SME shares.
- GTC/GTT order facility not available.
8. Motilal Oswal
Motilal Oswal is a public domain full-service broker based in Mumbai. The firm was established in the year 1987 by its founder Motilal Oswal and Raamdeo Agrawal. The services are all across Private Health, Management, Investment Banking, Home Finance, etc and this versatility makes the firm the best stock broker in India.
The client base of the firm is also from corporate, financial, investors, and others. The reach of the firm is also far stretched with 500 cities and over 10 lakh active customers.
The firm is famous for its high-quality research and advisory team and the results have always been correct and satisfying. This is one of the prominent reasons why Motilal Oswal is among the best stock broker in India.
Charges & Fee:
- Equity DElivery Trading – 0.50%
- Equity Intraday Trading – 0.05%
- Commodity Options Trading – 0.05%
- Minimum Brokerage – Based on the % of Transaction.
- Demat AMC Charges – Free/ Rs. 300/ annum
- Trading AMC Charges – Free
In terms of the Margin money that has to be maintained by the user at all times, the sum is Rs. 10,000 which is quite low compared to other public sector firms and thus the company is undoubtedly the best stock broker in India.
Pros & Cons of Motilal Oswal:
Pros
- Excellent exchange sites that are beneficial to all types of traders.
- One of India’s most reputable brokerage firms.
- The large sizable franchise network.
- 21+ years of experience in the brokerage industry.
- Free research advisory services.
Cons
- Many questions about secret costs are not clarified by the salesperson until the account is opened.
- There is no 3-in-1 Demat account.
- Account Opening Fees Are Expensive.
9. Axis Direct
Axis Direct is a public company-type full-service broker in India. The firm is a product of Axis Bank Ltd. working in retail management. The firm was established in the year 2011 by its founder Arun Thukral and since then the firm has developed a unique approach to becoming one of the best stock brokers in India.
Although Axis Direct doesn’t have an online presence like other trading houses still, the firm has a reach with 75 branch offices over the country which helps in reaching customers. This is the reason that has helped them in becoming the best stock broker in India.
A reason for this could be the popularity of the brand name attached to it. The products and services of the firm include IPO, Currency Trading, Mutual Funds, NCDs, etc.
Asix Direct also allows its customer to choose the 3-in-one account option where they can link all bank, trading, and Demat account in one single account that can be used for all purposes and this feature highlighted the firm making it the best stock broker in India.
Charges & Fees:
- Equity Delivery Trading – 0.20% – 0.60%
- Equity Intraday Trading – 0.03% – 0.05%
- Commodity Options Trading – Free
- Minimum Brokerage – Based on % of the transaction
- Demat AMC Charges – Rs. 650/ annum
- Trading AMC Charges – Free
The brokerage rate of Axis Direct is initially a bit high which is reduced to a flat brokerage rate. The Margin money for the users is Rs. 25,000 which is to be maintained throughout to carry trading services. Therefore, Axis Direct is counted among the top stock broker in India.
Pros & Cons of Axis Direct:
Pros
- Axis Direct is a well-established and trusted brand in the Indian stock market.
- They offer a wide range of investment options including stocks, mutual funds, IPOs, and more.
- Their trading platforms, including website and mobile app, are user-friendly and offer advanced features like real-time market data, customized watchlists, and research reports.
- They offer a 3-in-1 account that integrates a savings account, trading account, and a Demat account, making it convenient for customers to manage their finances and investments in one place.
- They offer various value-added services and benefits like personalized investment advice, free research reports, and access to premium trading tools.
Cons
- Their customer support may not be as responsive or efficient compared to some of the other brokerage firms.
- Their brokerage charges may be slightly higher compared to some of their competitors.
10. SBICap Securities
SBICap Securities is a product of India’s largest and one of the best stockbrokers in India. SBICap Securities or initially known as SBI Capital Securities is a public company-type full-service broker.
The firm was established in the year 2006 by its founder Arun Mehta and since then it has captured the attention of the market by becoming the best stock broker in India.
A high amount of its’ retail services is from non-residential and domestic investors. The customer base of the firm is due to its many branches that help customers reach out more comfortably.
Also, the name of the most trusted bank attached to the firm plays a vital role in the success of SBICap Securities. Some of its products are IPOs, ETFs, Bonds, Fixed deposits, Mutual funds, etc making the firm one of the best stock brokers in India.
Charges & Fees:
- Equity Delivery Trading – 0.50%
- Equity Intraday Trading – 0.08%
- Commodity Options Trading – Free
- Minimum Brokerage – Rs. 10/ order
- Demat AMC Charges – Rs. 400/ annum
- Trading AMC Charges – Free
The brokerage rate for SBICap Securities can differ and vary from service to service and the Margin money for users is set to be Rs.25,000 to continue trading events. Overall the firm is one of the best stock brokers in India.
Pros & Cons of SBICap Securities:
Pros
- Wide Range of Services: SBICap Securities offers a wide range of investment and trading services, including equity, derivatives, commodities, currencies, mutual funds, and more.
- Research and Analysis: SBICap Securities provides its clients with detailed research reports and market analysis, which can help them make informed investment decisions.
- Technology and Trading Platforms: SBICap Securities uses advanced technology and provides its clients with robust trading platforms, including mobile and web-based applications, to help them trade seamlessly.
- Customer Support: SBICap Securities has a dedicated customer support team that provides quick and efficient resolution of customer queries and grievances.
- Strong Backing: SBICap Securities is backed by the State Bank of India, one of India’s largest and most trusted banks, which adds to its credibility.
Cons
- Higher Brokerage Charges: SBICap Securities charges higher brokerage fees compared to some other brokerage firms in India.
- Hidden Charges: Some customers have reported hidden charges or fees that were not disclosed upfront.
- Margin Requirements: SBICap Securities has strict margin requirements for trading in derivatives, which may not be suitable for all investors.
- Limited Branches: SBICap Securities has a limited number of branches, which may make it difficult for customers in remote areas to access its services.
11. India Infoline
IIFL or what is also famously known as India Infoline is one the most popular financial and the best stock broker in India. The firm is a public domain full-service broker house that offers services in all financial sectors. The firm was established in the year 1995 by its founders Nirmal Jain and R. Venkataraman.
IIFL has a reach of over 4500 branch offices in the country. Some of the main focus of the firm is delivering world-class research analysis and commodity broking services to its customers. This enthusiasm has made the firm reach the top place in the list of the best stock broker in India.
The famous discount broker 5Paisa is a product of the IIFL group.IIFL firm itself is one of the best stock brokers in India and has innovated the stock broking business by allowing its customers to invest in all categories by using a single trading account.
The reach of the firm is not only restricted by national borders but it has reached international platforms such as New York, Dubai, London, and many other leading countries. Making it the best stock broker in India.
Charges & Fees:
- Equity Delivery Trading- 0.50%
- Equity Intraday Trading – 0.05%
- Commodity Options Trading – 0.05%
- Minimum Brokerage – Rs. 0.05/ share
- Demat AMC Charges – Free/ Rs.400 per annum ( excluding tax)
- Trading AMC Charges – Free
IIFL offers many brokerage plans at a minimal rate which has helped them in making the best stock broker in India.
Pros & Cons of India Infoline:
Pros
- Full-service broker with a large network of branches in India and around the world.
- Both consumers get free equity and mutual fund analysis and advisory services.
- One of the advanced trading platforms is ‘Trader Terminal.
- Options, derivatives, bonds, IPOs, MFs, Corporate FDs, and insurance are among the financial instruments available.
- For trade assistance, use RM (Relationship Manager) services.
Cons
- It is not a three-in-one Demat account.
- There are no intraday tick-by-tick maps available in the Investor Terminal (IT).
- The number of complaints against them at BSE and NSE is very high.
12. ICICI Direct
The brand value of ICICI Bank follows through its retail trading business which is ICICI Direct. It is a public full-service broker-type firm established in 1994.
With more than 20,00,000 active customers associated with ICICI Direct, it has come under the list of best stockbrokers in India. Some of the famous products offered by the firm are Mutual Funds & IPO, Online equity, bonds, Fixed deposits, Home Loans, etc.
One of the unique features that makes them the best stockbroker in India is that it offers 3 in one account which is used in retail stock market investment.
The accessibility of the firm is undeniably large with several branch officers all over the country which puts the company at the top of the best stock broker in India list.
Charges & Fee:
- Delivery Trading – 0.55%
- Intraday Trading – 0.03%-0.055
- Equity Options Trading – Rs. 35 – Rs. 95 per order
- Minimum Brokerage – Rs. 35/ trade
- Demat AMC Charges – Rs. 500/ annum
- Trading AMC Charges – Rs. 975/ annum
Traders and investors need to have a minimum of Rs. 20,000 at all times to have an effortless trading experience. Overall the placement of the firm among the best stock broker in India is no surprise.
Pros & Cons of ICICI Direct:
Pros
- 3-in-1 Demat account, simplified fund flow.
- One of the most well-known names in the brokerage industry.
- A one-stop shop for both savings and insurance.
- Trading is available in both BSE and NSE.
Cons
- One of the brokers with the highest brokerage charges.
- Commodity trading is not assisted.
- ICICIdirect charges Rs 25 per call for call & trade after the first 20 free calls in a month.
13. Geojit BNP Paribas
Geojit BNP Paribas Group is a full-service broker house in the public domain and offers services mostly in the south region of the country. The firm has become one of the best stock brokers in India and offers services in three sectors.
One is Relationship management, the second is advisory and trading details and the third is Educational training.
The retail firm has a wide customer base of 987,000 plus with a pan India cover of 479 branch offices. In addition to the physical presence of the firm, it also offers a telephone helpline service which is designed to serve the needs of the customers.
And this innovation makes the firm the best stock broker in India. Some of the products the firm are Mutual funds, Stockbroking, Currency Futures, Equities, etc
Charges & Fees:
- Equity Delivery Trading – 0.30%
- Equity Intraday Trading – 0.03%
- Commodity Options Trading – Free
- Minimum Brokerage – Rs. 15\ order
- Demat AMC Charges – Rs.400
- Trading AMC Charges – Free
And so there is no doubt why Geojit is considered in the list of best stock brokers in India.
Pros & Cons of Geojit:
Pros
- Advanced Trading Platforms: Geojit provides advanced trading platforms that allow investors to trade seamlessly across multiple devices, including desktops, laptops, smartphones, and tablets.
- Free account opening.
- Rs 20 per trade Intraday trading brokerage in GTrade Max plan.
- 4 times exposure through MTF.
- Offices in UAE, Oman, Bahrain, and Kuwait to help NRI investors.
Cons
- Higher Brokerage Charges: Geojit charges higher brokerage fees compared to some other brokerage firms in India, which may not be suitable for investors looking to minimize their costs.
- Hidden Charges: Some customers have reported hidden charges or fees that were not disclosed upfront.
- High minimum brokerage charges of Rs 20 per lot or 1 paisa per share whichever is higher.
14. Wisdom Capital
Wisdom Capital is among the growing new-age stock broker house in India. It is the best stock broker in India with highly influential services and products at the best market price rates. It has 250 franchisee networks and supports from different sectors such as BSE and NSE.
The brokerage rate and trading accounts charge are much lower and thus, the firm has become popular in the low amount of time that it has been established.
Wisdom Capital is among the best stockbroker in India with services such as Equity Trading, Derivative Trading, Commodity Features, Depository Trading, Data Feed, Mutual Funds, Insurances, and much more which has attracted customers from different segments helping the firm reach position of the best stockbroker in India.
The brokerage plans offered by the company are Freedom Plan, Pro Plan, Ultimate Plan, and Plan Comparison. Along with this, the company offers tools such as a brokerage calculator, margin calculator, etc for the benefit of customers.
Charges & Fees
- Equity Delivery Trading – 0.05%
- Equity Intraday Trading – 0.01%
- Commodity Options Trading – Rs. 9
- Minimum Brokerage – Free
- Demat AMC Charges – Rs. 999 for a lifetime ( excluding tax)
- Trading AMC Charges – Free
All these charges conclude that the company is one of the best stock brokers in India.
Pros & Cons of Wisdom Capital:
Pros
- Low Brokerage Charges: Wisdom Capital charges low brokerage fees compared to many other brokerage firms in India, which can help investors save money on their trading costs.
- Advanced Trading Platforms: Wisdom Capital provides advanced trading platforms that allow investors to trade seamlessly across multiple devices, including desktops, laptops, smartphones, and tablets.
- Margin Trading Facility: Wisdom Capital offers a margin trading facility, which allows investors to trade with margin and leverage, thereby increasing their potential returns.
- No Minimum Balance Requirement: Wisdom Capital does not have a minimum balance requirement for its trading accounts, making it accessible to a wide range of investors.
- Strong Customer Support: Wisdom Capital has a dedicated customer support team that provides quick and efficient resolution of customer queries and grievances.
Cons
- Limited Research and Analysis: Wisdom Capital does not provide detailed research reports or market analysis, which can make it challenging for investors to make informed investment decisions.
- Not provide a 3-in-1 account.
- Doesn’t offer the facility to invest in IPOs and NCDs.
15. Edelweiss
Edelweiss is one of the stockbrokers to choose from if you need a dependable stockbroker. its services are also fast, and as a result, it has made a name for itself in the industry. Edelweiss broking has been in the market for over two decades, so you can invest and trade in bonds, futures (F&O), mutual funds, insurance, gold ETFs, and IPOs.
If you need guided portfolio management assistance, Edelweiss Broking is the way to go. They offer guided portfolios, small case services, and portfolio organizers.
- Equity Delivery Trading – Lite plan (Rs. 10 per executed order)/ Elite Plan ( 0.30%)
- Equity Intraday Trading – Lite (Rs. 10 per executed order) Elite Plan (0.03%)
- Minimum Brokerage – Rs 10 per executed order
- Demat AMC Charges – Rs. 300 (for the first year) & Rs 500 (Second Year).
- Trading AMC Charges – Free
- Account Opening – Free
Pros & Cons of Edelweiss
Pros
- Full-service broker offering discount brokerage plan.
- Online IPO investment.
- Wide offline presence through branches and franchises makes it easy for customers.
Cons
- Charge high minimum brokerage: 3 paise per share in delivery, 1 paisa per share on Intraday and Futures
- Call & Trade is available at an additional cost of Rs 20 per call.
- Rs 50 per month for research calls and trading tips.
Points to be noted while choosing the best stock broker in India:
Choosing the best stock broker in India is crucial for investors looking to invest in the Indian stock market. A stock broker is an intermediary who facilitates buying and selling securities on behalf of investors. Here are some factors to consider when choosing the best stock broker in India:
- Reputation: Choose a stockbroker with a good reputation in the market. Look for reviews and feedback from other investors to get an idea of the broker’s track record.
- Brokerage Fees and Charges: Compare the brokerage fees and charges of different brokers to find the one that offers the best value for your money. Look for brokers with transparent fee structures and no hidden costs.
- Trading Platform: Choose a broker that offers a user-friendly trading platform that meets your needs. Look for features like real-time data, technical analysis tools, and mobile trading apps.
- Customer Support: Look for a broker that offers good customer support, including phone, email, and chat support. Make sure they have a dedicated support team that is available to assist you whenever you need help.
- Regulatory Compliance: Choose a broker that is regulated by the Securities and Exchange Board of India (SEBI). This will ensure that your investments are safe and secure and that the broker follows all the necessary rules and regulations.
- Research and Analysis: Look for brokers that provide research and analysis on stocks, sectors, and markets. This will help you make informed investment decisions.
- Additional Services: Look for brokers that offer additional services like financial planning, wealth management, and tax planning. These services can add value to your investment portfolio and help you achieve your long-term financial goals.
Conclusion on Best Stock Broker in India – 2023:
All of these brokers have a strong reputation in the market and offer competitive pricing, excellent customer support, and user-friendly trading platforms. However, the final choice of the broker will depend on individual requirements and preferences. We recommend evaluating each of these options and selecting the one that aligns with your investment goals and trading style.
FAQs on Best Stock Broker in India
Which stock broker is best for beginners in India?
There are several stock brokers in India that are suitable for beginners, each with its own advantages and disadvantages. However, some popular options for beginners in India include Zerodha, Angel Broking, and Upstox. These brokers offer user-friendly platforms, educational resources, low brokerage fees, and excellent customer support. It is recommended to compare the features and fees of each broker before making a decision based on your personal needs and preferences.
Which is the cheapest stock broker in India?
Zerodha is considered one of the cheapest stock brokers in India, offering zero brokerage fees on equity delivery trades and a flat fee of Rs. 20 per trade on all other segments. Other low-cost brokers in India include Upstox, Angel Broking, and 5Paisa. However, it is important to note that while low brokerage fees may be attractive, other factors such as trading platforms, customer support, and ease of use should also be considered when choosing a stock broker.
Which broker is safest in India?
All stock brokers in India are regulated by the Securities and Exchange Board of India (SEBI) to ensure that they follow strict guidelines and maintain a certain level of security for their clients. However, some brokers have additional measures in place to ensure the safety of their client’s funds and data. Brokers like Zerodha, Upstox, HDFC Securities, ICICI Direct, and Kotak Securities are considered among the safest in India, as they have a strong reputation, offer multiple layers of security, and have been in business for many years. It is always advisable to do your own research and due diligence before choosing a broker to ensure that they are reliable, trustworthy, and secure.
Which stock broking Company is best?
It is difficult to say which stock broking company is the best, as different companies may be better suited for different investors based on their specific needs and preferences. However, some of the top stock broking companies in India, based on factors such as reputation, trading platforms, fees, customer service, and research offerings, include Zerodha, ICICI Direct, HDFC Securities, Angel Broking, and Kotak Securities. It is recommended to compare the features and fees of each broker before making a decision based on your personal needs and preferences.
Which is the best platform for trading?
There are several platforms available for trading in India, each with its own advantages and disadvantages. Some of the most popular trading platforms in India include Zerodha Kite, ICICI Direct Trade Racer, HDFC Securities ProTerminal, Angel Broking SpeedPro, and Sharekhan TradeTiger. These platforms are known for their user-friendly interface, advanced charting tools, real-time data streaming, and reliable execution. It is recommended to compare the features and fees of each platform before making a decision based on your personal needs and preferences.
Which broker is best for IPO?
Most stock brokers in India offer the facility to apply for IPOs (Initial Public Offerings) through their platform. Some brokers that are known for their IPO services include Zerodha, ICICI Direct, HDFC Securities, and Kotak Securities. These brokers provide easy and convenient access to IPOs, with features such as online applications, real-time status updates, and research reports. It is recommended to compare the fees and features of each broker before making a decision based on your personal needs and preferences.
How do I find a stock broker?
To find a stockbroker, determine your investment goals and preferences, decide between a full-service or discount broker, research and compare brokers using online resources, check regulatory compliance, compare fees and charges, test the broker’s platform with a demo or trial account, and finally, open an account online by filling out an application form and submitting required documents. Choosing the right broker is an important decision that can impact your investment success, so it’s essential to do your research and choose a broker that best fits your needs and preferences.
What is the role of a stockbroker?
A stockbroker is a licensed professional who acts as an intermediary between buyers and sellers of securities. Their main role is to help clients buy and sell stocks, bonds, mutual funds, and other securities. They execute trades on behalf of clients and provide investment advice, research reports, and market analysis. They also provide access to financial markets and assist in account management, tax planning, and portfolio diversification. Brokers earn a commission or fee for their services, and they are required to comply with the regulations set by regulatory authorities, such as the Securities and Exchange Board of India (SEBI). For more details please visit.
Are online stock brokerage companies safe?
Yes, most online stock brokerage companies are safe. They are regulated by government authorities, such as the Securities and Exchange Board of India (SEBI), and have to comply with various rules and regulations to ensure the safety of clients’ investments. Online brokers also use various security measures, such as encryption technology and two-factor authentication, to protect their client’s personal information and assets. However, it is essential to do your research and choose a reputable and trustworthy online broker to ensure the safety of your investments.
What are the brokerage charges for stockbroking?
The brokerage charges for stockbroking in India depend on the type of broker, the services offered, and the trading volume. Full-service brokers charge a percentage of the total transaction value, typically ranging from 0.1% to 0.5%. Discount brokers, on the other hand, charge a flat fee per trade, ranging from Rs. 10 to Rs. 20 per trade. In addition to brokerage charges, there may be other charges, such as account opening fees, annual maintenance fees, transaction fees, and regulatory fees. It is essential to compare fees and charges across different brokers to choose the one that best fits your needs and budget.
Which share broker is best for the stock?
Choosing the best share broker for stocks depends on individual preferences and requirements. Some of the popular share brokers in India are Zerodha, Angel Broking, ICICI Direct, HDFC Securities, and Sharekhan. Zerodha is known for its low fees and user-friendly platform, while Angel Broking offers a range of investment products and services. ICICI Direct and HDFC Securities are popular for their research reports and portfolio management services, while Sharekhan offers a range of trading platforms and tools. It is essential to do your research and compare different brokers based on their fees, services, and user reviews to choose the one that best suits your needs.
Can I transfer my shares to others with help from a stockbroker?
Yes, you can transfer your shares to others with the help of a stockbroker. The process of share transfer involves filling out a transfer form, submitting it to the registrar and transfer (R&T) agent of the company, and updating the shareholding details in the company’s records. A stockbroker can assist you in filling out the transfer form and completing the required documentation. They can also help you calculate the applicable stamp duty and other fees. It is important to ensure that the transfer is done through a reliable and trustworthy broker to avoid any fraudulent activities.
Which is the oldest broker in India?
The oldest stock broker in India is the Bombay Stock Exchange (BSE), which was founded in 1875. It is the oldest stock exchange in Asia and the first to be recognized by the Indian Government under the Securities Contracts Regulation Act of 1956. The BSE initially began as a group of brokers who would gather under a banyan tree in Mumbai to trade stocks and has since grown to become one of the largest and most prominent stock exchanges in the world.
Who is the best stock broker in India? Who gives the best trading advice?
Determining the “best” stockbroker or trading advisor in India is subjective and can vary based on individual preferences and requirements. However, some popular stock brokers in India known for their services and features include Zerodha, ICICI Direct, HDFC Securities, Sharekhan, and Motilal Oswal. When it comes to trading advice, it is important to conduct thorough research, consider multiple sources of information, and make informed decisions. It is recommended to consult with a qualified financial advisor or conduct your own research to validate any trading advice you receive.
Please Read Our Related Articles