Best Full Service Brokers in India
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.
A full-service broker is good for the following investors/traders:
- Beginner investors need to have their hands held by some in the initial days of trading.
- Traders who are looking for higher margin or margin funding. A trader can get a significantly higher margin based on his personal relationship with the broker or sub-broker.
- Traders planning to use Call & Trade a lot or visit the branch in person. Most discount brokers charge extra for call & trade and do not have local branches.
- Investors looking for a variety of financial products for investment through the broker i.e. Mutual Funds, IPO, Debt, Insurance, FD etc.
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 many 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 the Stock market and can carry out their own research |
|
Deciding Parameters |
a) Brokerage & Other Charges |
a) Brokerage |
Top 10 Full-Service brokers in India 2022, Best Full-Service Stockbrokers in India
| Rank | Share Broker | Active Clients 2022 | Active Clients 2021 | % Growth |
|---|---|---|---|---|
| 1 | ICICI Direct | 3135167 | 2752864 | 13.9% |
| 2 | KOTAK SECURITIES | 1290410 | 1108340 | 16.4% |
| 3 | HDFC SECURITIES | 1156837 | 1056565 | 9.5% |
| 4 | IIFL | 1139902 | 889367 | 28.2% |
| 5 | MOTILAL OSWAL | 915264 | 788629 | 16.1% |
| 6 | SHAREKHAN | 757371 | 764651 | -1% |
| 7 | SBICAP | 643626 | 462752 | 39.1% |
| 8 | AXIS Direct | 417958 | 402765 | 3.8% |
| 9 | Choice Broking | 268212 | 157231 | 70.6% |
| 10 | GEOJIT | 236567 | 233999 | 1.1% |
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