Best Stock Broker in India- Top 10 Stock Brokers in India

Instock Broker is considered the best stock broker in India, offering comprehensive, insightful data and advisory about different stocks in real-time. Instock Broker assists you with any financial instrument, from derivatives to mutual funds and bonds. The stock market is volatile, and you need good insight and professional assistance to earn a good return.

Choosing the right stockbroker is essential to ensure you grow your portfolio with positive and increased returns. While selecting the best broker, look into their company history, their experience, read the reviews, and understand if their services are suitable to your needs. You can also gauge how they leverage technology to provide a seamless investment experience.

Why Choose the Best Stock Broker in India?

• The service allows you to choose which investments are appropriate for retirement savings and which are not.       
• The stock market advisor will advise you where to put your money and the total returns you can anticipate from your portfolio.
• By identifying the many forms of taxable income from your investments and making strategic stock investments, stock consultants can also assist you in managing your income taxes. If you sell your possessions, they will also ensure you know the taxes you will owe.

The best stock broker will help you minimize the risk. A stock advisor helps with recommendations based on their understanding of your risk tolerance. By following your advisor’s advice, you’ll always be at the top of your game and ready for any risks. Instock Broker is the best stock broker in India for unrivaled trading services, advanced platforms, and expert assistance. Make informed investment decisions with the top broker’s comprehensive tools and insights.

Types of Stock Brokers-

There are primarily two types of stock brokers in India- full-service and discount brokers.

• Full-service stockbrokers: Full-service stockbrokers provide their clients with a wide range of services. They are conventional brokers who offer consulting services and a trading platform. Because of this, full-service stockbrokers demand hefty fees, and the brokerage they charge is determined by how many transactions a customer executes overall.

• Discount stockbrokers: Due to the growing popularity and accessibility of the Internet, discount stockbrokers have emerged. These brokers offer an Internet trading platform for their customers. However, discount brokers don’t provide research facilities or consulting services. Here are the top discount brokers in India.

Read our detailed difference between full-service brokers and discount brokers.

Comparison Between Full-Service Brokers and Discount Brokers

List of Top 10 Stock Brokers in India:

 ICICI Direct

It has been one of the leading full-service brokers operating since May 1995. ICICIdirect.com is a part of ICICI Securities, which offers retail trading and investment services. ICICI Direct, the best stock broker in India, offers a 3-in-1 account, which means a combination of a savings bank account, a stock trading account, and a Demat account.

ICICI Direct provides five different brokerage plans-

• ICICI Direct Prime
• ICICI Direct Neo
• Prepaid brokerage plan
• I-Secure
• NRI brokerage

If we talk about the default I-Secure plan, the brokerage structure is:

Active Clients: 18,69,925

Trading Platforms: ICICI direct Mobile and Trade Racer Web-based Platform

IIFL Securities

IIFL Securities Limited (formerly known as India Infoline Limited) is a leading independent full-service retail and institutional brokerage firm in India, established in 1995. They offer custom-made portfolios based on your risk profile and have more than 22+ lakh satisfied customers.

IIFL offers three brokerage plans- Investor, Premium, and Super Trader.

Active Clients: 4,37,829

Trading Platforms: IIFL Markets Mobile App, Trader Terminal, and TT Iris.

Sharekhan

It was founded in February 2000 and is the best stock broker provider. It is also available in more than 600 cities and has 3,500+ outlets in India. The company provides a well-known trading terminal known as ‘Sharekhan TradeTiger.’ It is one of the most widely used trading platforms among retail investors.

Here’s the broking structure of Sharekhan:

Active Clients: 6,65,129

Trading Platforms: TradeTiger (Trading Terminal), Sharekhan App (Mobile Trading) Sharekhan Mini (Low bandwidth App)

Kotak Securities

Kotak Securities Limited is a subsidiary of Kotak Mahindra Bank, founded in 1994. It has a well-entrenched presence in the international markets as well, namely, Asia Pacific, European, Middle Eastern, and American markets.

They have different brokerage plans: Trade Free Youth, Trade Free Plan, Trade Free Max, and Dealer Assisted Plan.

Here are the brokerage details for their Trade Free Plan:

Active Clients: 11,79,674

Trading Platforms: KEAT Pro X, Kotak Securities website, Kotak stock trader.

HDFC Securities

HDFC Securities has been one of the best stock brokers in India since 2000. It is a subsidiary of HDFC Bank, which provides a one-stop shop for all your financial requirements. It offers more than 30 financial products and has more than 250 branches across India.

Active Clients: 10,88,561

Trading Platforms: HDFC Securities Pro Terminal, HDFC Securities Voice-Enabled Investing and HDFC Securities Application.

Angel One

Founded in 1987, Angel One Limited (formerly Angel Broking Limited) offers full-service brokerage and seeks to develop a strong relationship with GenZ and Millennial investors in India. They have 7 Million+ Registered Clients, 16000+ Authorized Persons, 12 Million+ App downloads, and have a presence in over 1800+ cities in India. It is one of the top 10 stock brokers in India.

Here’s the broking structure of Angel One:

Active Clients: 59,83,067

Trading Platforms: Angel Broking Application, Angel Broking Trade-Website, Angel Bee.

Motilal Oswal

Motilal Oswal started in 1987 as a small sub-broking unit with two promoters and a peon. It is now a multi-faceted financial services company with a presence in over 550 cities and provides a wide range of products and services in Retail and Institutional broking, Private wealth management, Home finance, Private Equity, Asset Management, and Investment banking.

They do not charge a fee for opening an account, and AMC and Admin charges are free for the first year. Moreover, they provide free research and personal advice. Motilal Oswal is considered the best stock broker in India.

Active Clients: 8,74,230

Trading Platforms: MO Trader, MO Investor.

Axis Direct

Axis Direct is the online brand of Axis Securities that provides simplified investment solutions to over 3.6 million customers. It enjoys a high level of market trust due to its parent company, Axis Bank. They offer you various products & services to make your investment journey easy through powerful research and multiple trading platforms. Axis Direct is one of the finest top 10 stock brokers in India.

It offers three brokerage plans- Standard, Now or Never, and Investment Plus.

Here are the further details for the standard plan:

Active Clients: 3,71,589

Trading Platforms: Axis Direct Trade, Axis Direct Swift Trade, and Axis Direct Mobile Trading Application.

Edelweiss

Edelweiss Broking Limited was incorporated in 2008 and is a subsidiary of the Edelweiss Group, a leading diversified financial services conglomerate founded in 1995. The company has more than 475 offices in 200 locations across India and offers flat brokerage plans to its customers.

Edelweiss has two brokerage plan options, namely- Lite and Elite.

Active Clients: 1,74,590

Trading Platforms: Website, Edelweiss Terminal X3, and Edelweiss Mobile Trader.

Zerodha

Zerodha is the first stockbroker in India to offer discount broking to investors. In terms of trading volume and active client base, Zerodha is the top stock broker in India. It allows traders and investors to invest in a wide range of stock market instruments, including Equity, Currency, Commodities, IPOs, Futures and options, Bonds, Government securities, and Direct Mutual Funds.

Brokerage

Active Clients: 72,23,525

Trading Platforms: Zerodha Kite, Coin, Console, and Varsity Mobile.

Here are some final important things to remember before investing in the stock markets:

1. Always research before investing, and never follow any stock tips blindly.
2. Do not ever try to time the market.
3. Control your emotions while investing in the markets.
4. Allocate a budget that you need to invest in and try to diversify it.
5. Lastly, stock market investing is all about discipline and patience. So, monitor your portfolio regularly and make informed decisions.

The selection of a stockbroker is not easy. So, it is paramount to carefully assess each one according to your needs and choices. Look for a quality trading platform with low brokerage charges and good customer service that facilitates better investing decisions.

Frequently Asked Questions-