• Top Stock Brokers in India ‐ Reviews, Comparison and Offers

Discount Brokers vs. Full Service Brokers In India

Any transaction in the share market, be it buy or sell, requires a broker’s intervention who works as an agent between the market and market participants. Security and Exchange Board of India popularly known SEBI is the agency who regulate Stock brokers and they need to register themselves with SEBI. There are lot of Share brokers who have Pan India Presence and they offer varied range plan and product to place them in top 10 stock brokers in India.

These brokers are broadly divided into 2 segments, One "Full-Service brokers or Traditional Brokers" and the second one is "Discount brokers".

Full-Service Brokers: Traditional “full-service” brokers do more than just facilitate the buying and selling of a stock or bond. These brokers tend to offer a wide array of services and products, including financial and retirement planning, advisory and trading facilities in stocks, commodities, and currencies, investing and tax advice and regular portfolio updates. Full-service brokers generally have lot of offices and branches across the country, where clients can visit in case of any help required.

Discount Brokers: These brokers came into existence as a result of an increased preference for the Internet. A discount or online brokerage could be a better choice for the Investors who are fee-conscious and prefers to go it alone without expert advice. These brokerages will generally not offer investment advice. With a discount brokerage, you can either execute a trade online automatically through a computerized trading system or call in your order with a broker over the phone—although the latter option will likely cost you more.

Comparison between Full-Service Brokers v/s Discount Brokers:

Factors Full-Service Brokers Discount Brokers

Service

Advisory for shares, mutual funds, bonds, currencies, commodities etc

Provides trading platform

Brokerage

Average daily brokerage is 0.3%-0.5% per trade

Charge as low as Rs 10/trade, irrespective of the order value

Presence

Operates through a number of branches

Normally do not have much branches and provide online services

Suitable For

An investor and Trader who is new to the stock market and seek hand-holding along with trading tools.

For an Investor/Trader who is well versed with Stock market and can carry out own research

Deciding Parameters

a) Brokerage & Other Charges
b) Research Desk
c) Customer Service
d) Leverages Funding

a) Brokerage
b) Cost of Transaction
c) Customer Support
d) Call & Trade Facility

Below is the list of Top 10 Discount brokers in India based on the number of active clients at NSE as of 31st Dec 2018.

Rank Name of Share Broker Active Clients (31st Dec 2018)

1

ZERODHA

847016

2

5PAISA

89996

3

Upstox (RKSV)

81166

4

My Value Trade

44043

5

SAMCO

38849

6

TRADE SMART ONLINE

22091

7

SAS Online

12637

8

R K GLOBAL

9236

9

TRADEJINI

5013

10

FYERS SECURITIES

3979

Below is the list of Top 10 Full Service brokers in India based on number of active clients at NSE as of 31st Dec 2018.

SN Name of Full-Share Broker Active Clients (31st Dec 2018)

1

ICICI SECURITIES LIMITED

844853

2

HDFC SECURITIES LTD.

674495

3

SHAREKHAN LTD.

548873

4

AXIS SECURITIES LIMITED

416707

5

ANGEL BROKING LIMITED

415572

6

KOTAK SECURITIES LTD.

409619

7

MOTILAL OSWAL SECURITIES LTD.

328145

8

KARVY STOCK BROKING LTD.

270521

9

IIFL SECURITIES LIMITED

232344

10

SBICAP SECURITIES LIMITED

210073

Final word

When it comes to choosing a brokerage, whether it’s a Full-Service broker or a Discount Broker, there is no one perfect choice for every investor. It would really depend on your individual needs and preferences, weighing the costs versus the benefits of each broker, and carefully comparing the level of services and features offered.