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Top 20 Best Stockbrokers in India

Top 20 Best Stockbrokers 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.

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Top Stockbrokers in India 2024, Top 20 Share Brokers in India

Rank Broker Active Clients Equity Delivery Brokerage A/c Op. Charges
1 Groww 7,092,413 Rs 20 per executed order or 0.05% whichever is lower Rs 0 (Free)
2 Zerodha 6,598,363 Rs 0 (Free) Rs 200
3 Angel One 5,098,124 Rs 0 (Free) Rs 0 (Free)
4 Upstox 2,237,974 Rs 20 per executed order or 2.5% whichever is low Rs 0 (Free)
5 ICICIdirect 1,875,350 0.55% Rs 0 (Free)
6 Kotak Securities 1,055,717 0.25% (Minimum Rs 20 per trade) Rs 99
7 HDFC Securities 1,016,329 0.32% Rs 999
8 Motilal Oswal 807,786 0.20% Rs 0 (Free)
9 SBI Securities 757,635 0.50% Rs 850
10 Paytm Money 740,285 Rs 20 per executed order or 2.5% whichever is low Rs 200
11 Sharekhan 624,891 0.30% on market rate or minimum 1 paisa per share Rs 0 (Free)
12 5paisa 495,066 Rs 20 per executed order Rs 0 (Free)
13 IIFL Securities 413,244 Rs 20 per order Rs 0 (Free)
14 AxisDirect 325,971 0.50% Rs 900
15 Dhan 310,070 Rs. 0 Rs 0 (Free)
16 Geojit 233,756 0.30% Rs 0 (Free)
17 Fyers 204,904 Rs 0 (Free) Rs 0 (Free)
18 Choice Broking 195,950 0.20% Rs 0 (Free)
19 SMC Global 163,038 0.30% Nil
20 Alice Blue 155,619 Rs 0 (Free) Rs 150
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