Finding the best stock broker in India that genuinely offers value and does not feel like a burden while charging brokerage fees can significantly impact your overall profits. With numerous options available offering different services, new schemes, and policies to attract customers, the choice can be overwhelming.
Finding the top stock broker among hundreds of options can be overwhelming.
As a professional trader, you need a system that offers advanced tools with low brokerage, an operating system that is glitch-free and complies with SEBI guidelines. At the same time, from a newbie’s perspective, it must be user-friendly. This guide will help you make the right choice.
This post will analyse the best stock brokers in India, go over their features, fees, and benefits and drawbacks, and assist you in selecting the one that best fits your trading and investing objectives.
Why Choosing the Right Stock Broker Matters?
Let me tell you why choosing the best stock broker India is so important before telling you about who is at the top in this business and why!
- Broking Fees: It is a charge levied by a broker for providing facilities of various financial services like stocks, bonds, and other securities. Even a slight variation in broking may impact long-term earnings and can affect your overall earnings.
- Trading Platform: The software or app where you initiate all trades must be excellent at order execution with a seamless and quick trading interface.
- Research & Advisory: Newcomers can require suggestions and market analysis. So it is considered to be good if a broker conducts in-depth analysis and provides insights into various industries, different markets and economic trends.
- Regulation & Safety: To ensure fair and transparent trading that secures investors from fraud. SEBI regulates these to ensure safe trading practices. Your broker must be SEBI-registered to operate legally.
- Product Availability: You must have heard what Warren Buffett said, “Diversification is protection against ignorance”. So, with more types of products available, you can diversify the risk. A more diversified portfolio lowers the risk of losing money at once.
The broker should provide all products under one roof, including mutual funds, stocks, and initial public offerings (IPOs).
Types of Stock Brokers in India
There are two main categories of brokers in india:
1. Full-Service Brokers
Full-time brokers provide trading, research, investment advisory, and portfolio management services, charging higher brokerage fees.
Example: ICICI Direct, HDFC Securities, Kotak Securities.
2. Discount Brokers
On the other hand, discount brokers focus solely on execution (buy/sell) at low cost, providing minimal support in the research segment. They provide an easy-to-use interface and are beginner-friendly.
Example: Zerodha, Upstox, Angel One.
List of Best Stock Brokers in India 2025
| Rank | Stock Broker | Rating | Charges | Active Clients |
|---|---|---|---|---|
| 1 | m.Stock | 9.80/10 | Free | 4,22,973 |
| 2 | Zerodha | 9.61/10 | 0 for Delivery, Rs 20/Order for other | 79,11,319 |
| 3 | Groww | 9.60/10 | Rs.20/order | 1,31,74,195 |
| 4 | Upstox | 9.55/10 | Rs 20 per Order | 27,01,041 |
| 6 | ICICI Direct | 9.36/10 | 0.55% for delivery, 0.275% for Intraday | 19,50,040 |
| 7 | Kotak Securities | 8.85/10 | 0.2% per order executed on equity delivery | 15,56,287 |
| 8 | Motilal Oswal | 8.70/10 | 0.2% on equity delivery | 4,10,225 |
| 9 | HDFC Securities | 8.50/10 | 0.35% on equity delivery | 10,08,049 |
| 10 | Angel One | 8.32/10 | ₹0 delivery, ₹20/trade intraday | 74,48,502 |
Let’s dive into a detailed comparison of the top stock brokers in India that you should consider:
1. m.Stock
Launched in 2022, m.Stock, a Mirae Asset brand, is a powerful, stable, and secure trading platform built for modern Indian investors & traders. With over 21 lakh users, 95 crore+ trades, and 28 lakh+ daily average trades, m.Stock delivers a seamless investing experience across stocks, F&O, mutual funds, ETFs and IPOs. m.Stock also offers FREE trading APIs and expert research calls.
Active Clients: 4.22+ lakhs
Brokerage: ₹0 for Delivery, ₹5/order on F&O, Intraday
Highlights:
- Pay Later (MTF) interest starting from just 6.99% p.a.
- FREE Trading APIs and research calls
- Trade in 1-click, instantly with Watchlist PRO
- Options Strategy Builder for PRO traders.
- Account Opening Charges: ₹0
2. Zerodha
Zerodha Broking Limited is an Indian brokerage and financial services company in Bangalore. It offers an online trading platform that facilitates various types of trading in stocks, derivatives, currencies, commodities, mutual funds, and bonds.
Active Clients: 1.2+ crore
Brokerage: ₹0 for equity delivery, ₹20 per trade for intraday & F&O
Highlights:
- Kite app (fast, simple, clean interface)
- Varsity (free stock market learning platform)
- Good for both beginners & professionals
It recently simplified onboarding and decreased brokering for non-PIS NRI accounts.
3. Groww
Groww is an Indian company that operates an online investment platform offering a wide range of financial products and services.
Active Clients: 70+ lakh
Brokerage: ₹20/trade for intraday & F&O, ₹0 delivery
Highlights:
- No AMC or account fees and handy educational tools
- Easy mutual fund & stock investing
- Clean UI, which is great for first-time investors in India
- Free mutual fund investment and IPOs.
4. Upstox
Upstock is one of India’s largest and fastest growing digital Brokers and they offer trading across stocks, mutual funds, derivatives, digital gold and more.
Active Clients: 80+ lakh
Brokerage: ₹0 delivery, ₹20/trade intraday & F&O
Highlights:
- Backed by Ratan Tata
- Powerful Upstox Pro app
- Free stock market insights
- Offer various useful features at a low cost.
5. ICICI Direct
ICICI Direct is a part of ICICI Securities and offers retail trading and investment services in India.
Active Clients: 50+ lakh
Brokerage: Higher compared to discount brokers
Highlights:
- Backed by ICICI Bank3-in-1 account (bank + trading + demat)
- Strong research and IPO services.
- Trusted name and its integrated services, but expensive.
6. Kotak Securities
Kotak Securities provides full-service solutions and is backed by Kotak Mahindra Bank, offering strong research and advisory services. Some investors can feel Kotak costly!
Active clients: 25 lakh-plus users
Brokerage:
- 0.2% per order executed on equity delivery
- ₹10/trade intraday or 0.5% whichever is lower
- Future and options, ₹10 per order
Highlights
- Multiple platforms for web, mobile and desktop apps with top-edge advanced tools.
- Kotak Trades Academy provides free educational support to learners.
- Free research and report calls
7. Motilal Oswal
They are ancient gems, founded in 1987, and still carrying their legacy so far with over 94 lakh customers and up to 9 lakh active traders. They are known for their award-winning reports and research-based investing. They are into wealth management.
Active clients: upto 9 lakh
Brokerage: 0.2% on equity delivery and equity intraday for lifetime
Highlights
- Full capabilities in providing services require creating a diversified portfolio.
- Offers an innovative app that integrates wealth planning, trading, investing, and AI features for comprehensive analysis under one roof.
- They also manage Assets Under Advice. (Means the advice related to investment is given by brokers to clients)
- They provide award-winning stock research reports and recommendations, all done by their professionals.
8. HDFC Securities
HDFC Securities Demat Account provides a wide range of product buckets, all aligned in a single platform with well-researched insights that help investors make a reliable choice between securities—a trusted name in banking & brokerage.
Active clients: more than 12 lakh users
Brokerage: 0.35% on equity delivery and 0.035% on intraday (conditions applied)
Highlights
- Strong security and integrated with HDFC Bank and its trust.
- Wide range of investment products.
- Expensive for small traders and not very cost-effective due to higher brokerage charges.
- Offer a wide range of products and advanced applications to facilitate efficient trading.
9. 5paisa
5paisa is a budget-friendly broker firm which are backed by IIFL, with lakhs of active users. They are listed on stock exchanges like NSE and BSE.
It offers online trading and investment in equity derivatives and mutual funds.
Active clients: over 15 lakh users
Brokerage: ₹20 per order, which can be reduced with the subscription policy.
Highlights
- Low cost with affordable subscription plans
- Great for beginners, they can learn without worrying about brokerage charges.
- The app interface is good because it’s beginner-friendly and provides proper guidance to understand the basics.
- They have research and AI features to help their users.
10. Angel One
Founded in 1987, it has grown to become a full-time detail brokerage house offering a wide range of investment and trading services
Active Clients: 1+ crore
Brokerage: ₹0 delivery, ₹20/trade intraday
Highlights:
- Angel One app with AI-based stock suggestions
- Strong research reports
- offers research & low brokerage
- Have the best customer education initiatives.
How Can I Pick India’s Top Stock Broker?
Look into these fundamentals to choose the best stock brokers in 2025:
- Brokerage Fees: Examine all the charges carefully, including any hidden charges, for F&O, intraday, and delivery fees.
- Trading Platform: Evaluate the dependability as well as key features, usability, and speed of the app or website.
- Customer service: quick problem solving, like you are on a hotline phone, and are not ignorant, as you can lose money in no time in the stock market.
- Time is saved by the quick and easy online KYC process for opening an account.
- Additional features include research, free learning, and IPO investing.
Conclusion
Your trading preferences, financial goals, and the style of platform you feel most at home with will ultimately determine which stock broker in India is best for you in 2025. In the current market, some brokers provide excellent research tools at a slightly greater cost, while others offer affordable broking but no research. Like the quote says, “You have to pay for everything.”
One must compare aspects such as trading platforms, customer services, brokerage fees, account opening fees, and hidden costs before making a decision. Making a wise decision now can result in a smooth trading trip and long-term savings of money and, most importantly, time. Keep in mind that while there isn’t a single “perfect” broker for everyone, choosing the appropriate one for you will have a significant impact.