Top 20 Stock Brokers with the Highest Active Clients in India
The Indian brokerage industry is transitioning from a percentage-based business model to a flat brokerage and subscription-based model. Following the pandemic, there has been an influx of investors opening demat accounts. The average daily turnover and revenues of the stockbrokers also increased. People were looking for new ways to earn income when the pandemic hit, and that made entered them into the stock markets, which led to rapid growth in the stock broking industry.
There are more than 300 stockbrokers registered with SEBI. But all of them may not be safe and transparent. Being registered with SEBI does not make a broker trustworthy. There are many factors that put them on the list of the leading best stock broker in India. One of those important factors is unique active clients.
Active clients are those who have traded at least once in the financial year. So, in this article, we will see the ranking in terms of the Top 20 Stock Brokers with the highest number of active clients in India.
Top 20 Stock Brokers with highest active clients in India
The total number of active clients of all the combined stock brokers is 3,75,31,075.
Zerodha
With more than 66 lac active traders, Zerodha is one of the top 20 stock brokers in India. Founded in 2010 by Nitin Kamath, the company holds a market share of around 17% and has achieved recognition among the leading trade companies.
| Title | Details |
| Established | 2010 |
| Headquarter | Bangalore |
| Total Active Clients | 66 lac+ |
| Total Market Size | 17% |
| AUM | Rs 3.50 lakh crore |
| Registered Member | NSE, BSE, MCX, and MCX-SX, |
| Trading Platforms | Kite, Kite Mobile, and Sentinel |
| Additional Products | Coin, Coin Mobile, Console, and Kite Connect API |
| Annual Maintenance Charges | Rs 300 |
| Equity Intraday Brokerage | Lower of Rs. 20 per executed order or 0.03% |
| Equity Futures | Lower of Rs. 20 per executed order or 0.03% |
| Options | Rs 20 per executed order |
| Delivery | 0% charges |
| Features | 3 in 1 Account
Email & call support No paperwork and online account opening |
RKSV Securities (Upstox)
Upstox is next on the list of the top 20 stockbrokers in India, with the highest number of active members. At present, the platform has more than 22 lac users, and the market size is around 13%. The privately held discount broker business, which was founded in 2011, rebranded itself as UpStox from RKSV. Being one of the best stock brokers in India, it offers a variety of retail stock market products and services.
| Title | Details |
| Established | 2011 |
| Headquarter | Mumbai |
| Total Active Clients | 49 lac+ |
| Total Market Size | 13% |
| AUM | Rs 7.50 lakh crore |
| Registered Member | NSE, BSE, MCX, and MCX-SX, |
| Backed by | Kalaari Capital, Ratan Tata and GVK Davix. |
| Trading Platforms | Upstox Pro Mobile and NEST Desktop |
| Trading Options | Mutual Funds, IPO, Bonds, ETF, and Insurance |
| Demat Annual Maintenance Charges | Rs 150 yearly |
| Equity Intraday Brokerage | Rs 20 per executed order or 0.05% (whichever is lower) |
| Equity Futures | Rs 20 per executed order or 0.05% (whichever is lower) |
| Options | Rs 20 per executed order |
| Delivery | Rs 18.5 per scrip per day only on sell |
| Commodity | ₹20 per executed order or 0.05% (whichever is lower). |
| Features | 3 in 1 Account
Free Trading Calls Free Research Reports SMS Alerts Margin Funding Margin Against Share |
Angel One
One of the top 20 stock brokers in India, Angel One has more than 50 lac active members and is well-known for its state-of-the-art tools and customer-first approach. Investors can trade on a variety of platforms, including mobile and web-based ones. There are more than 8000 sub-brokers, and it offers free Demat accounts to traders. As a registered member of BSE and NSE, Angel One is considered the safest platform to trade.
| Title | Details |
| Established | 1987 |
| Headquarter | Mumbai |
| Total Active Clients | 41 lac+ |
| Total Market Size | 10% |
| AUM | Rs 13,254 crores |
| Registered Member | NSE, BSE, MCX, and NCDEX, |
| Backed by | Angel Broking. |
| Advisory Tool | Angel iTrade PRIME |
| Trading Platforms | Angel One App, Angel One Trade, ARQ, and SpeedPro |
| Trading Options | Mutual Funds, IPO, Bonds, ETF, and Insurance |
| Demat Annual Maintenance Charges | Rs 240 yearly |
| Equity Intraday Brokerage | 20 or 0.03% per executed order |
| Equity Futures | Rs 20 per executed order |
| Options | Rs 20 per executed order |
| Delivery | 0 |
| Commodity | ₹20 per executed order 0.25% (whichever is lower) |
| DP Charges | Rs 20 + GST per Debit Transaction
Rs 50 + GST per Debit Transaction for BSDA Clients |
| Features | Free Trading Calls
Free Research Reports SMS Alerts Margin Funding Margin Against Share NRI Service to 143 countries |
Groww
With more than 70 lac active users, Groww has a market share of 12% and is growing widely. It charges Rs 20 for per executed trade and zero fees for mutual fund investment. Groww provides commission-free direct mutual fund investments done without any hassle and paperwork. Groww has also adopted a community-based strategy, launching a number of channels and groups on the app in recognition of the fact that individuals find it simpler to make investments when they have peer group advice.
| Title | Details |
| Established | 1987 |
| Headquarter | Bangalore |
| Total Active Users | 46 lac+ |
| Total Market Size | 12% |
| AUM | Rs 553.45 Cr |
| Registered Member | NSE, BSE, MCX, and NCDEX, |
| Backed by | Peak XV and Tiger Global. |
| Trading Platforms | Website and Mobile App |
| Trading Options | Mutual Funds, IPO, and ETF. |
| Demat Annual Maintenance Charges | 0 |
| Equity Intraday Brokerage | Rs 20 per trade (or 0.05% whichever is lower) |
| Equity Futures | Rs 20 per executed order |
| Options | Rs 20 per executed order |
| Delivery | Rs 20 per trade (or 0.05% whichever is lower) |
| Commodity | ₹20 per executed order 0.25% (whichever is lower) |
| DP Charges | Rs 13.5 per company for delivery
Rs 0 for Intraday |
| Features | SMS Alerts
Online IPO application. Direct Mutual Funds platform that helps you earn an extra 1.5% returns. Option to invest online in digital gold. |
ICICI Securities Ltd.
ICICI Securities, also called ICICI Direct, has a total active user of more than 18 lac with a market share of 8.33%. The most preferred feature of ICICIDirect is the 3-in-1 account, which consists of an ICICI Bank Account, an ICICI Trading Account, and an ICICI Demat Account. Traders can trade using 3 in 1 account for smooth functioning.
| Title | Details |
| Established | 1995 |
| Headquarter | Mumbai |
| Total Active Clients | 31 lac+ |
| Total Market Size | 8.33 |
| AUM | Rs 1900 Cr |
| Registered Member | NSE, BSE, and MCX, |
| Backed by | ICICI |
| Trading Platforms | Market App, Trade Racer, i- Track, and Money App |
| Trading Options | Mutual Funds, IPO, Bonds, Insurance, and ETF. |
| Trading Plans | Neon, ICICIdirect Prime Plan, I-Secure Plan and ICICIdirect Prepaid |
| Demat Annual Maintenance Charges | Rs 300-900/- per year |
| Account Opening Charges | Rs 0 |
| Call & trade charge | Rs 50 per trade |
| Equity Intraday Brokerage | Rs 20 per trade (or 0.05% whichever is lower) |
| Equity Futures | Rs 20 or 0.5% per executed order |
| Options | Rs 20 per executed order |
| Delivery | Rs 20 per trade |
| Commodity | ₹20 per executed order 0.25% (whichever is lower) |
| DP Charges | Rs 4.5 + GST per company for delivery |
| Features | 3 in 1 Account
Free Trading Calls Free Research Reports SMS Alerts Margin Funding Margin Against Share. |
5Paisa
5Paisa is the leading stock broker in India, having a client base of around 15lac and a market share of 4.02%. IIFL, a prominent financial organisation in the nation, introduced it. It is the first low-cost discount broker to offer both share trading and robot advisory services in a single app. From its founding in March 2016 to its ranking as India’s second-largest stockbroker in December 2018, 5Paisa has come a long way in a short amount of time. The BSE, NSE, and MCX offer currency, equities, and commodity trading through a 5paisa broking review.
| Title | Details |
| Established | 2016 |
| Headquarter | Mumbai |
| Total Active Clients | 15 lac+ |
| Total Market Size | 4.02 |
| AUM | N/A |
| Registered Member | NSE and BSE |
| Backed by | IIFL |
| Trading Platforms | Mobile, website, and Trade Terminal |
| Trading Options | Mutual Funds, IPO, Bonds, Insurance, and ETF. |
| Trading Plans | Power Saver and Ultra Trader |
| Demat Annual Maintenance Charges | Rs 300- per year |
| Account Opening Charges | Rs 0 |
| Call & trade charge | Rs 100 per trade |
| Equity Intraday Brokerage | Rs 20 per trade |
| Equity Futures | Rs 20 |
| Options | Rs 20 |
| Delivery | Rs 20 per trade |
| Commodity | ₹20 per executed order |
| DP Charges | Rs 12.5 |
| Features | 2 in 1 Account
Free Trading Calls Free Research Reports Margin Funding Margin Against Share. Algo trading |
Kotak Securities
Kotak Securities is yet another leading top 20 stockbroker in India with a good client base. Currently, it has more than 10 lac active members and a market share of 3.14%. It is known for offering unique trading services and options for traders. The company has demonstrated cutting-edge technologies and creative concepts for stock brokerage modules.
Established in 1994, Kotak Securities has since grown to rank among India’s top stock brokers. It offers 3-in-1 online trading, including Kotak Mahindra Bank Savings Account, Kotak Securities Trading Account and Kotak Securities Demat Account.
| Title | Details |
| Established | 1994 |
| Headquarter | Mumbai |
| Total Active Clients | 11 lac+ |
| Total Market Size | 3.14% |
| AUM | Rs 2.86 lakh crore |
| Registered Member | NSE, BSE, MSE, MCX & NCDEX |
| Backed by | Kotak |
| Account Types | Trinity Account (3-in-1 account)
2-in-1 Account Private Client Group NRI Account |
| Trading Platforms | Kotak NEO, Stock Trader, KEAT Pro x, App, and website |
| Trading Options | Mutual Funds, IPO, Bonds, Insurance, and ETF. |
| Demat Annual Maintenance Charges | Rs 50 pm |
| Account Opening Charges | Rs 0 |
| Call & trade charge | Rs 98 per trade |
| Equity Intraday Brokerage | 0.039% |
| Equity Futures | Rs 0.002% |
| Options | Rs 0.0505% |
| Delivery | Rs 20 per trade |
| Commodity (futures and commodities) | 0.0026% – MCX; 0.006% and 0.05% for MCX; 0 for NCDEX |
| DP Charges | Rs 4.5 NSDL charges + 0.04% of the value of the transaction or Min. Rs. 27/-(per Instruction) |
| Features | 3 in 1 Account
Free Research Reports Margin Funding Margin Against Share. SMS Alert |
HDFC Securities
One of India’s top stock brokers, HDFC Securities is a division of HDFC Bank, which is entirely focused on trading. HDFC Securities has active clients of more than 11lac with a market share of 3.13%. With a minimum brokerage of Rs 25, the platform charges 0 for commodity trading. Like other trading platforms, HDFC Securities offers 3-in-1 Online Trading Accounts, which include HDFC Bank Savings Accounts, HDFC Securities Trading Accounts and HDFC Securities Demat Accounts.
| Title | Details |
| Established | 2000 |
| Headquarter | Mumbai |
| Total Active Clients | 11 lac+ |
| Total Market Size | 3.13% |
| AUM | Rs 6,900 crore |
| Registered Member | BSE, NSE, MCX, CDSL and NSDL |
| Backed by | HDFC |
| Account Types | Preferred, Classic, Infiniti, Standard, and Prime |
| Trading Platforms | Mobile app, HDFC Money, website and Pro-Terminal |
| Trading Options | Mutual Funds, IPO, Bonds, Insurance, and ETF. |
| Demat Annual Maintenance Charges | Rs 250-700/- (depending on the account type) |
| Account Opening Charges | Rs 0 |
| Call & trade charge | Rs 25 per trade |
| Equity Intraday Brokerage | 0.003% |
| Equity Futures | Rs 0.002% |
| Options | Rs 0.003% |
| Delivery | Rs 0.50% or min Rs 25 |
| Commodity (futures and commodities) | 0.0025% |
| DP Charges | 0.04% of the value of the transaction or Rs. 25/- (per Instruction) |
| Features | 3 in 1 Account
Free Research Reports Personalized watchlist and a highly customizable trading system. SMS Alert AI Chat support Arya smart visual assistant. |
IIFL / India Infoline Securities
One of the more seasoned financial service companies, India Infoline, was founded in 1995 and presently has more than 4 lacs active users and a 3% market share. The platform offers both online trading and research-based consulting services for a whole range of financial products, such as bonds, IPOs, stocks, derivatives, commodities, insurance, FDs, loans, mutual funds, and others. Although it doesn’t charge for account opening, it charges Rs 400 annually for demat and a minimum charge of o.05% for every trade executed.
| Title | Details |
| Established | 1995 |
| Headquarter | Mumbai |
| Total Active Users | 11 lac+ |
| Total Market Size | 3% |
| AUM | Rs 64,000 crore |
| Registered Member | BSE and NSE |
| Backed by | India Infoline |
| Account Types | Regular, Repatriable and non-repatriable demat account |
| Trading Platforms | IIFL Mutual Funds App, TT Iris, Trader Terminal, and IIFL Markets App |
| Trading Options | Mutual Funds, IPO, Bonds, Insurance, and ETF. |
| Trading Plans | Investor Plan (Online Plus)
Premium Plan (Dedicated RM) Super Trader Plan (Pro Traders) |
| Demat Annual Maintenance Charges | Rs 250 |
| Account Opening Charges | Rs 0 |
| Call & trade charge | Rs 13.5 + GST per scrip |
| Equity Intraday Brokerage | Rs 20 |
| Equity Futures | Rs 20 |
| Options | Rs 20 |
| Delivery | Rs 20 |
| Commodity (futures and commodities) | Rs 20 |
| DP Charges | Rs 20 |
| Features | Free Research Reports
Personalized watchlist and a highly customizable trading system. Equity Systematic Investment Plan Advanced order type like Valid till Date (VTD). |
Motilal Oswal Financial Services
Motilal Oswal Financial Services is next on the list of the top 20 stock brokers in India, having more than 8 lac active users and 2.42% of the market share. It charges Rs 20 for every executed trade and Rs 199 for account maintenance annually. Trading clients of Motilal Oswal can choose from a variety of individualised wealth-management and investing options. These consist of trading in stocks, commodities, and currencies, portfolio management and advisory services, investment advisory services, mutual fund distribution, initial public offerings (IPOs), personal loans, insurance, and e-broking and depository services.
| Title | Details |
| Established | 1987 |
| Headquarter | Mumbai |
| Total Active Clients | 8 lac+ |
| Total Market Size | 2.18% |
| AUM | Rs 65,000 crore |
| Registered Member | BSE and NSE |
| Backed by | Motilal Oswal |
| Account Types | Demat Account |
| Trading Platforms | Motilal Oswal App (also known as MO INVESTOR APP)
MO Trader App – Specially designed for Traders Desktop Exe and Web login |
| Trading Options | Mutual Funds, IPO, Bonds, Insurance, and ETF. |
| Trading Plans | Motilal Oswal Default Brokerage Plan |
| Demat Annual Maintenance Charges | Rs 0 |
| Account Opening Charges | Rs 0 |
| Call & trade charge | NA |
| Equity Intraday Brokerage | Rs 20 per trade |
| Equity Futures | Rs 0.02% |
| Options | Rs 20 |
| Delivery | Rs 0.20% |
| Commodity (futures and commodities) | Rs 20% |
| DP Charges | 0.075% or Rs 75, whichever is higher. |
| Features | Free Trading Calls
Free Research Reports SMS Alerts Margin Funding Margin Against Share |
Sharekhan Ltd
Sharekhan is one of the leading top 20 stock brokers in India, having active clients of more than 7 lac and a 2.05% market size. It is a full-service public broker that is regarded as leading in popularising internet trading throughout the nation.
Shripal Morakhia founded the company in 2000, and it quickly rose to the top of India’s stock broker rankings. It offers a 2-in-1 account service to NRIs in addition to its services to Indians. It also provides a cutting-edge trading platform and extremely effective customer service.
| Title | Details |
| Established | 1987 |
| Headquarter | Mumbai |
| Total Active Clients | 9 lac+ |
| Total Market Size | 2.42% |
| AUM | Rs 65,000 crore |
| Registered Member | BSE and NSE |
| Backed by | Motilal Oswal |
| Account Types | Demat Account |
| Trading Platforms | Motilal Oswal App (also known as MO INVESTOR APP)
MO Trader App – Specially designed for Traders Desktop Exe and Web login |
| Trading Options | Mutual Funds, IPO, Bonds, Insurance, and ETF. |
| Trading Plans | Motilal Oswal Default Brokerage Plan |
| Demat Annual Maintenance Charges | Rs 0 |
| Account Opening Charges | Rs 0 |
| Call & trade charge | NA |
| Equity Intraday Brokerage | Rs 20 per trade |
| Equity Futures | Rs 0.02% |
| Options | Rs 20 |
| Delivery | Rs 0.20% |
| Commodity (futures and commodities) | Rs 20% |
| DP Charges | 0.075% or Rs 75, whichever is higher. |
| Features | Free Trading Calls
Free Research Reports SMS Alerts Margin Funding Margin Against Share |
SBICAP Securities Ltd.
SBICAP Securities Ltd. has active clients of more than 6 lac and has a market size of 1.73%. SBICAP Securities (SSL), a well-known stockbroker in India, is a 100 percent subsidiary of SBI Capitals. Through their simple education investor initiative, they offer possibilities for learning to a variety of investors in addition to a platform for investing.
The platform offers a wide range of goods and services, including distribution of financial products, investment banking, retail broking, and private wealth management.
| Title | Details |
| Established | 2006 |
| Headquarter | Mumbai |
| Total Active Clients | 6 lac+ |
| Total Market Size | 1.73 % |
| AUM | Rs 33,000 crore |
| Registered Member | BSE, NSE, NSDL & CDSL. |
| Backed by | SBI |
| Account Types | Demat Account |
| Trading Platforms | SBISmart Portal (Web-based Trading Platform)
SBISmart Xpress (Desktop Trading Software) SBISmart Lite (Website Trading) SBISmart Mobile App |
| Trading Options | Mutual Funds, IPO, Bonds, Insurance, and ETF. |
| Trading Plans | NA |
| Demat Annual Maintenance Charges | Rs 750 yearly |
| Account Opening Charges | Rs 850 |
| Call & trade charge | NA |
| Equity Intraday Brokerage | Rs 0.75% per trade |
| Equity Futures | Rs 0.01% |
| Options | Rs 0.5 |
| Delivery | Rs 0.20% |
| Commodity (futures and commodities) | Rs 20% |
| DP Charges | Rs 13.50 +GST |
| Features | 3-in-1 account
SBISMART Xpress and Mobile Trading app SBISMART Research reports and analysis tools SMS Alerts Margin Funding Margin Against Share |
Paytm Money
Paytm Money has an active client of more than 5lac with a market share of 1.73%. With the Paytm Money platform, traders can purchase stocks, mutual funds, NPS, and other financial goods. The trading platform was introduced One97 Communications, the parent company of Paytm, the biggest digital payments firm in India, which introduced the platform in 2017.
Paytm Money provides a free, paperless, and entirely online account opening process. Additionally, Paytm Money doesn’t charge an annual maintenance fee (AMC) for trading or demat accounts, which has allowed them to develop significantly quicker than their rivals.
| Title | Details |
| Established | 2017 |
| Headquarter | Bangalore |
| Total Active Clients | 5 lac+ |
| Total Market Size | 1.54% |
| AUM | Rs 5800 crore |
| Registered Member | BSE, NSE, CDSL. |
| Backed by | One97 Communications Ltd |
| Account Types | Demat Account |
| Trading Platforms | PayTM Money mobile app |
| Trading Options | Mutual Funds, IPO, digital golds, Bonds, and ETF. |
| Trading Plans | NA |
| Demat Annual Maintenance Charges | Rs 0 |
| Account Opening Charges | Rs 0 |
| Call & trade charge | NA |
| Equity Intraday Brokerage | Rs 10 per trade |
| Equity Futures | 0.02% or Rs 20 |
| Options | Rs 20 |
| Delivery | Rs 20 per trade |
| Commodity (futures and commodities) | Rs 20 per trade |
| DP Charges | Rs 13.50 +GST |
| Features | Zero commission direct mutual funds
Fully digital account opening. Free Mutual Fund services SMS Alerts Margin Funding
|
Axis Direct
Axis Direct, with an active client of more than 4 lacs and a market share of 1.07%, is the leading stockbroker in India. Axis Securities Limited, a 100 percent subsidiary of Axis Bank, operates under the flagship brand Axis Direct and provides retail broking services in addition to assisting in the distribution of the Bank’s financial products.
| Title | Details |
| Established | 2011 |
| Headquarter | Mumbai |
| Total Active Clients | 4.2 lac+ |
| Total Market Size | 1.07% |
| AUM | Rs 9,420.35 Cr. |
| Registered Member | SEBI, BSE, NSE, MCX, and NCDEX |
| Backed by | Axis Bank |
| Account Types | Demat Account |
| Trading Platforms | DirectTrade
Swift Trade Mobile Trading AxisDirect Lite |
| Trading Options | Equities, Mutual Fund, SIP, IPO, Derivatives, Bond, NCD, ETF and Company Fixed Deposits. |
| Demat Annual Maintenance Charges | Rs 750 |
| Account Opening Charges | Rs 0 |
| Call & trade charge | free |
| Equity Intraday Brokerage | 0.05% per trade |
| Equity Futures | 0.03% per trade |
| Options | Rs 0.01 per lot |
| Delivery | 0.50% per trade |
| Commodity (futures and commodities) | 0.03% per trade |
| DP Charges | Rs 25 |
| Features | 3 in 1 Account
Free Trading Calls Free Research Reports SMS Alerts Margin Funding Margin Against Share Margin Funding Margin Against Share |
Choice Equity Broking
Choice Equity Broking is the leading stock broker in India, having a clientele of around 2lac and a market share of 0.72%. With a wide range of financial products, including equity, derivatives, currencies, commodities, mutual funds, wealth management, and loans secured by shares, Choice Equity Broking provides online trading with first-rate financial services. The company is a member of NSE, BSE and ICEX, in addition to having a depository membership with CDSL and NSDL. Choice Broking’s brokerage fees are said to be among the lowest in India, with Rs 0 for account openings and AMC of Rs 200 years. Also, the brokerage rate of 0.2% per trade executed.
Choice International Limited, a publicly traded financial services company founded in 1993, is the parent company of Choice Broking.
| Title | Details |
| Established | 2010 |
| Headquarter | Mumbai |
| Total Active Clients | 2.70 lac+ |
| Total Market Size | 0.72% |
| AUM | Rs 3635 cr. |
| Registered Member | NSE, BSE, MCX, NCDEX, and ICEX |
| Backed by | Choice International |
| Account Types | Demat Account |
| Trading Platforms | Choice FinX
Jiffy Web Trading Application Investica |
| Trading Options | Mutual Funds
IPO Platform Bonds & Debt Exchange Traded Fund Insurance. |
| Demat Annual Maintenance Charges | Rs 200 yearly |
| Account Opening Charges | Rs 0 |
| Call & trade charge | free |
| Equity Intraday Brokerage | 0.02% per trade |
| Equity Futures | 0.02% per trade |
| Options | Rs 25 per lot |
| Delivery | 0.2% per trade |
| Commodity (futures and commodities) | 0.02% per trade |
| DP Charges | Rs 13.5 |
| Features | Free Trading Calls
Free Research Reports SMS Alerts Margin Funding Margin Against Share |
Geojit Financial Services
Geojit Financial Services is one of the leading stock brokers in India, with more than 2 lac active traders and a market share of 0.57%. Geojit BNP Paribas (Geojit) was founded in 1987. With its headquarters in Kochi, Kerala, Geojit is well-known throughout the Gulf. With a wealth of knowledge in portfolio management services, life insurance, and mutual fund distribution, Geojit BNP Paribas is a cash equity and derivatives broker.
| Title | Details |
| Established | 1987 |
| Headquarter | Kochi |
| Total Active Clients | 2.30 lac+ |
| Total Market Size | 0.62% |
| AUM | Rs 89,000 Cr. |
| Registered Member | BSE and NSE |
| Backed by | BNP Paribas |
| Account Types | Demat Account |
| Trading Platforms | SELFIE Gold
SELFIE Platinum |
| Trading Options | Equities, Mutual Funds, SIP, IPO, Derivatives, Bond, ETF, etc |
| Demat Annual Maintenance Charges | Rs 450 |
| Account Opening Charges | Rs 0 |
| Call & trade charge | free |
| Equity Intraday Brokerage | 0.03% per trade |
| Equity Futures | 0.01% per trade |
| Options | Rs 50 per lot |
| Delivery | 0.30% per trade |
| Commodity (futures and commodities) | 0.03% per trade |
| DP Charges | Rs 25 |
| Features | Free research and recommendations.
Free account opening. 2-in-1 (Demat & Trading) as well as 3-in-1 accounts with a PNB bank account |
Edelweiss Broking Ltd.
With a total trading account of around 2lac and a market share of 0.57%, Edelweiss Broking Ltd. is next on the list of top 20 stock brokers in India. Established in 1995, Edelweiss Broking Limited is a wholly owned subsidiary of the Edelweiss group, a prominent diversified financial firm in India that serves people, corporations, and institutions.
| Title | Details |
| Established | 2008 |
| Headquarter | Mumbai |
| Total Active Clients | 2.13 lac |
| Total Market Size | 0.57% |
| AUM | Rs 1lac Cr. |
| Registered Member | BSE and NSE |
| Backed by | Nuvama Wealth & Investment Limited |
| Account Types | Nuvama Lite (Discount Brokerage Plan)
Nuvama Elite Advance Subscription (prepaid) Plans |
| Trading Platforms | Nuvama Xpress
Nuvama Xtreme Trader Nuvama Mobile Trader |
| Trading Options | Equity, Debt, Mutual Funds, IPOs, Currency, Futures & Options, etc |
| Demat Annual Maintenance Charges | Rs 500 |
| Account Opening Charges | Rs 0 |
| Call & trade charge | free |
| Equity Intraday Brokerage | Rs 10 per trade |
| Equity Futures | Rs 10 per trade |
| Options | Rs 10 per lot |
| Delivery | 0.30% per trade |
| Currency (futures and commodities) | 0.02% per trade |
| DP Charges | Rs 11 + ₹5.5 (CDSL) per scrip |
| Features | Free research, trading tips, and recommendations.
Instant paperless online account opening. Excellent mobile application, website & desktop trading software for trading. Online IPO investment. High leverage facilities across Cash, F&O and CDS segments. |
SMC Global
This premier stock broker platform has more than 1 lac active users and 0.43% of the market share. SMC Global offers corporate, institutional, high net worth individuals, and other retail clients a wide range of financial products, including equity, currency, commodities, investment banking, distribution of third-party financial products, research, insurance broking, clearing services, mortgage advisory, institutional brokering, etc. Additionally, it offers portfolio and wealth management.
| Title | Details |
| Established | 1994 |
| Headquarter | New Delhi |
| Total Active Clients | 1.60 lac+ |
| Total Market Size | 11% |
| AUM | Rs 3000 Cr. |
| Registered Member | NSE, BSE, MCX, NCDEX and MCX-SX |
| Backed by | SMC Global Limited |
| Account Types | Commodity Trading
Equity Trading |
| Trading Platforms | SMC Privilege
Mobitrade Tabtrade Browser based |
| Trading Options | Equities, Derivatives, Currency, Commodities, IPOs, Mutual Funds and Bonds, etc. |
| Demat Annual Maintenance Charges | Rs 400 yearly |
| Account Opening Charges | Rs 0 |
| Call & trade charge | free |
| Equity Intraday Brokerage | 0.05% or 5 paisa per trade |
| Equity Futures | 0.05% or 5 paisa per trade |
| Options | Rs 100 per lot |
| Delivery | 0.50% or 30 paisa |
| Currency (futures and commodities) | 0.05% or 5 paisa per trade and Rs 25 |
| DP Charges | NA |
| Features | Investment online in IPOs, Mutual Funds, and GOI Bonds all from one website.
Trading is available in both BSE and NSE. High leverage facilities across Cash, F&O and CDS segments. |
Religare Broking Ltd.
Religare Securities Ltd (RSL), a 1986-founded subsidiary of the multinational financial firm Religare Enterprises Limited, is the leading stock broker in India with active clients of around 1lac and a market share of 0.42%.
Religare is a participant in the NCDEX, MCX, NSE, and BSE exchanges. Religare uses CDSL and NSDL to provide demat account services. Religare Broking offers traders an option for online trading via the broker’s website, mobile trading application, and installable trading terminal. Religare provides its customers with a 2-in-1 account that combines a demat account with internet trading. Customers must have a trading account to purchase or sell shares on stock exchanges. Customers can hold securities in demat accounts.
| Title | Details |
| Established | 1986 |
| Headquarter | New Delhi |
| Total Active Clients | 1.50 lac+ |
| Total Market Size | 0.42% |
| AUM | Rs 350 Cr. |
| Registered Member | BSE, NSE, MCX and NCDEX exchanges. |
| Backed by | Religare Enterprises Limited |
| Trading Platforms | Website and Religare Dynami |
| Trading Options | Commodity Trading, Equity Trading, currency derivatives, commodity, Demat account |
| Demat Annual Maintenance Charges | Rs 400 yearly |
| Account Opening Charges | Rs 0 |
| Call & trade charge | free |
| Equity Intraday Brokerage | 0.05% to 0.01% |
| Equity Futures | 0.05% or 5 paisa |
| Options | Rs 70 per lot |
| Delivery | 0.50% to 0.10% |
| Currency (futures and commodities) | 0.50% to or 5 paisa per trade and Rs 30 |
| DP Charges | 12 plus 18% GST per transaction |
| Features | 2-in-1 account
SMS Alert |
Alice Blue
Founded in 2006, Alice Blue is a stock broker platform located in Bangalore that provides trading services for stocks and commodities at BSE, NSE, and MCX. The platform has more than 1,42,000 active clients and a market share of 0.38%. It provides depository services under Alice Blue CDSL membership.
| Title | Details |
| Established | 2006 |
| Headquarter | Tamil Nadu |
| Total Active Clients | 1.42 lac+ |
| Total Market Size | 0.38% |
| AUM | NA |
| Registered Member | BSE, NSE, and MCX. |
| Backed by | Alice Blue |
| Account Types | Alice Blue Demat and Trading Account
Alice Blue Mutual Fund Account |
| Trading Platforms | Advisorymandi
Alice Algo ANT IQ Alice Blue Mutual Funds Sensibull Smallcase TickerTape |
| Trading Options | Commodity Trading, Equity Trading, currency derivatives, commodity, demat account |
| Demat Annual Maintenance Charges | Rs 400 yearly |
| Account Opening Charges | Rs 0 |
| Call & trade charge | Rs 50 |
| Equity Intraday Brokerage | 0.05% or Rs 15 whichever is lower |
| Equity Futures | 0.05% or Rs 15 whichever is lower |
| Options | Rs 15 per lot |
| Delivery | Free |
| Currency (futures and commodities) | 0.05% or Rs 15 whichever is lower |
| DP Charges | Rs 15 plus 18% GST per transaction |
| Features | 2-in-1 account
SMS Alert |
The above table clearly shows that Zerodha is the largest stockbroker in India, with the most unique active clients registered on the National Stock Exchange, followed by Upstox and Angle One.
FAQs About Best Stock Brokers in India
Q1: What are the key factors to consider when selecting a stock broker in India?
Ans: Consider factors like brokerage fees, trading platforms, customer support, research and analysis tools, ease of use, and the broker’s reputation in the market.
Q2: How can I open an account with a top stock broker in India?
Ans: Visit the broker’s official website, locate the “Open an Account” section, and follow the registration process. This typically involves submitting KYC documents and completing an application form.
Q3: Are there any hidden charges associated with using stock brokers?
Ans: Brokers may have various fees, including brokerage charges, account maintenance fees, transaction charges, and more. It’s essential to review the broker’s fee structure thoroughly.
Q4: Can I trade on a mobile device with these top stock brokers?
Ans: Yes, most top stock brokers offer mobile trading apps, enabling you to trade conveniently on smartphones or tablets.
Q5: How can I compare different stock brokers to find the best one for me?
Ans: Create a list of your priorities, such as low fees, a user-friendly platform, or specific investment options. Compare brokers based on these criteria and read reviews from other users.
Q6: Is there any regulatory body overseeing stock brokers in India?
Ans: Yes, SEBI (Securities and Exchange Board of India) is the regulatory authority overseeing stock brokers and ensuring market integrity in India. Always choose brokers regulated by SEBI for added security.
Q7: Why is the number of active clients important when choosing a stock broker?
Ans: The number of active clients can be indicative of a broker’s popularity and reliability. Brokers with a large client base often have a more extensive track record and may offer more competitive services.
Q8: Can I trust stock brokers solely based on their active client numbers?
Ans: While a high number of active clients is a positive sign, it’s crucial to consider other factors such as reputation, customer service, trading platforms, and fees. Always research comprehensively before choosing a stock broker.
by Instockbroker Team | February 5, 2024