Best Broker for Equity Mutual Fund

There are multiple ways to invest in mutual funds but 2 of them are the most popular way of investing.

• Direct mutual funds are funds that are offered directly by the fund AMC to the customers. In the case where intermediaries like brokers offer the direct MF to customers, the AMC doesn't pay commission or incentives to the broker. The savings from this are passed on to the customers, resulting in better returns compared to the regular mutual funds. Direct mutual funds in India are fast gaining popularity because of the higher yield and ease of buying. Along with the fund house websites, they are made available by most online brokers like Zerodha, Upstox, 5paisa, ProStocks, Groww, etc.
• Regular Mutual Funds: A regular mutual fund is those mutual funds that are bought through a distributor (broker or agents) who receives a commission from the AMC for selling these funds to the customer. For every regular fund, the mutual fund AMC pays a commission (upfront as well as a recurring trail commission every year) to the distributors or agents for introducing a new investor to their plan. The AMC will add this commission to the expense ratio, and hence, regular funds are more expensive than direct funds.

Top 10 Brokers for Mutual Fund Investment, Mutual Fund SIP

Whether you are interested to invest in regular funds or direct mutual funds, there are multiple mobile apps for these mutual fund investments available in the market providing the advantage of buying and selling on the tip of your fingers. Further, if you plan to invest in direct funds through these apps, they can also help you to save an extra commission of 1% to 1.5% which is a huge advantage. we would be discussing some of the top brokers who are offering these services for free (no Commission) and also guide you in investment:

Here are the top 10 brokers for mutual fund investment:

1. Zerodha (Zerodha Coin): Zerodha is India's largest direct mutual fund platform that offers funds through its Coin platform. Zerodha Coin helps you to buy direct mutual funds online with no commission, directly from asset management companies. Your mutual funds, Shares, bonds, and more, all in your Demat account. Zerodha has partnered with 40 Asset Management Companies (AMCs). With the help of Zerodha Coin, you can Invest, modify, and pause SIPs anytime with ease and without any hassle.
2. Groww: Groww started in 2016 as a direct mutual fund platform and is among the best, the fastest-growing mutual fund investment platforms offering 5000+ mutual funds schemes both through SIP or lumpsum mode. Groww offers Direct Mutual Funds through the Groww website or Groww mobile app. Groww offers to switch your regular mutual fund plans to direct mutual fund plans and help you earn extra returns. By investing in direct mutual funds, investors can save significantly and earn 1.5% extra returns on their investments. Investing in Mutual funds through Groww is free, as there are no account opening charges, subscription fees, commission, or redemption charges. Groww offers a wide range of mutual funds from 35+ Asset management companies.
3. Paytm Money: Paytm Money started in 2017 as a direct mutual fund platform. Investing in Mutual funds through Paytm Money is free, as there are no commissions, fees on buying or selling of mutual funds, or any other hidden charges. Paytm Money offers Direct Mutual Funds to its customers for investment. Investors can use the Paytm Money website or Paytm Money mobile app to invest in mutual funds. Paytm Money is an all-in-one mutual fund app with direct mutual funds available for investment through SIP or lumpsum mode. The company has a tie-up with 38+ leading Asset Management companies covering around 96% of Industry Assets Under Management (AUM).
4. Alice Blue: The Alice Blue offers a dedicated mutual fund platform wherein customers can buy direct mutual fund schemes from various fund houses. Alice Blue doesn't charge any fee and brokerage for mutual fund investments from its customers. The company has a tie-up with 31+ leading Asset Management companies. They offer both SIP or lumpsum mode of investments.
5. 5 Paisa: The 5 paisa offers a dedicated mutual fund platform wherein customers can buy both direct mutual fund schemes & Regular mutual fund schemes from various fund houses. 5paisa doesn't charge any fee and brokerage for mutual fund investments from its customers. The company has a tie-up with 21+ leading Asset Management companies. They offer both SIP or lumpsum mode of investments.
6. Tradeplus: Tradeplus offers a dedicated mutual fund platform for investors called 'Infini MF'. Tradeplus Infini Mutual Fund platform offers direct mutual funds. Plus, it doesn't charge any platform fee or distribution charges. You can track the performance of your portfolio. Tradeplus also helps you to Switch from regular mutual funds to direct mutual fund and also provide a calculator for the same
7. Cherry By Kotak: Cherry by Kotak is an investment advisory platform offered by Kotak Investment Advisors Limited (KIAL), a wholly-owned subsidiary of Kotak Mahindra Bank Limited, which focuses on the Alternate Assets business of the Group. They offer Direct Mutual Funds to their customers at zero brokerage or commission. They help you to build your portfolio and advises you to Hold or Sell. They offer these services at minimum charges starting from Rs.99 per quarter.
8. CAMS: CAMS offers a service known as myCAMS, through this service you can make one-time investments in mutual funds, set up a Systematic Investment Plan (SIP), opt for Common One Time Mandate (OTM), and other facilities across Mutual Funds serviced by CAMS through a single account. they offer both direct & regular mutual fund investment.
9. ET Money: ETMONEY App, from the house of the Times Of India Group, is a fully integrated mobile platform offering products across all sections. They offer zero commission direct mutual fund investment along with complete tracking of all your investment in one place.
10. Upstox: Upstox is offering mutual fund schemes from 28 fund houses. All the schemes offered on the Upstox mutual fund platform are regular. The broker doesn't charge transaction and brokerage fees for offering mutual fund services. There are no order placement charges at Upstox Mutual Fund Platform. However, you have to pay Rs 18.50 as CDSL charges while redeeming or selling mutual fund units. being a regular mutual fund there is a commission payout from mutual funds to Upstox which makes it a costly deal vs direct mutual fund investment.