Best Share 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 market and market participants. Security and Exchange Board of India popularly known as SEBI is the agency that regulates Stockbrokers and they need to register themselves with SEBI. There are a lot of Share brokers who have a Pan India Presence and they offer a varied range of plans and products to place them in the 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 a 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 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 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. |
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 Stockbrokers in India 2022, Top 10 Share Brokers in India
| Rank | Share Broker | Active Clients 2022 | Active Clients 2021 | % Growth |
|---|---|---|---|---|
| 1 | ZERODHA | 6513036 | 5685723 | 14.6% |
| 2 | Upstox | 5596268 | 4551755 | 22.9% |
| 3 | Groww | 4268383 | 2964344 | 44% |
| 4 | Angel One | 3926697 | 3060398 | 28.3% |
| 5 | ICICI Direct | 3135167 | 2752864 | 13.9% |
| 6 | 5PAISA | 1727458 | 1459744 | 18.3% |
| 7 | KOTAK SECURITIES | 1290410 | 1108340 | 16.4% |
| 8 | HDFC SECURITIES | 1156837 | 1056565 | 9.5% |
| 9 | IIFL | 1139902 | 889367 | 28.2% |
| 10 | MOTILAL OSWAL | 915264 | 788629 | 16.1% |
Frequently Asked Questions:
-
1. How many stock brokers are there in India? What are their rankings?
There are over three hundred stockbrokers in India registered with SEBI & various stock exchanges. National Stock Exchange (NSE) alone has 225 registered stockbrokers as of 30th August 2020.
Stock Broker Ranking: The best way to rank the stockbrokers is to rank them basis their active clients base, here is the list of Top 10 stock brokers in India:
- ZERODHA
- ICICI Direct
- HDFC SECURITIES
- Upstox
- Angel One
- KOTAK SECURITIES
- SHAREKHAN
- 5PAISA
- MOTILAL OSWAL
- AXIS Direct
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