According to SEBI, more than 5000 registered stock brokers in India are helping investors build wealth and keep the trading active. Stock trading is quite a complex field that only some individuals can sustain for a long time. That’s why people need help & advise from top stock broker in India. There are experienced ones who perform trading by themselves and others who use trading platforms. Investors when choosing the best stock broker in India, have two options: discount broker and full service stock broker. We here offer you demat accounts from top 10 stock brokers in India.
Conventional brokers charge a fee that varies according to the kind and volume of the transaction. Additionally, these top stock brokers in India provide their clients with research bytes and trading recommendations.
Having a portfolio maintained by top stock brokers in India will keep you confident about investing and earning back. The role of a stock broker is to help investors buy or sell stocks. They need to guide stock investors before investing. But who are these top brokers in India, and what factors should be considered while choosing them?
We bring you complete insight into the stock brokers, choosing the best ones and listing top 10 stock brokers in India.
What is a Stock Broker?
Stock broker is a middleman between buyers and sellers. Brokers can add or drain liquidity depending on the kind of stock order. They play a major role in investors’ money management, trading on right stocks, and developing financial instruments including bonds, mutual funds, derivatives, etc. Since stock brokers offer a necessary service, they are paid a brokerage fee. Only some brokers can reach to the list of top stock brokers in India because there are many factors considered to be on the top.
Types of Stock Broker –
There are two types of stock brokers in India-
1.Full-Service Stock Broker
A full-service stock broker provides customers with a range of financial services. Clients are typically paired with specific licensed stock brokers. Research departments of brokerage houses offer access to initial public offerings (IPOs) and analyst recommendations.
2.Discount Stock broker
Discount stock broker offer limited service and charge low brokerage for the work. In addition to financial products, discount stock brokers offer banking products, mutual fund access, and other services.
List of Top 10 Stock Brokers in India
Now we come to the most important section of the page where we now list down the top 10 stock brokers in India, whom you can count upon. Here is the list of top 10 best broker in India –
1. Zerodha
Zerodha is among the top 10 stock brokers in India having active traders of around 62lacs. Established in 2010 but Nitin Kamath, the platform has managed to make it to the top trading companies.
Charges & Fee:
- Equity Delivery Trading – Free
- Equity Intraday Trading – Rs. 20/ order
- Commodity Trading – Rs. 20/order
- Minimum Brokerage – Free
- Demat AMC Charges – Rs. 300/annum
- Trading AMC Charges – Free
Trading Platforms
- Kite 3.0 (Web based)
- Kite 3.0 Mini (App Based)
- Zerodha Pi (Desktop version)
Pros and Cons
Pros
- More than 6 million active users
- Zero brokerage charges
- 100% online trading
Cons
- No 3-in-1 account.
- Calls are paid at Rs 50 per trade.
2. UpStox
Next in the list of top 10 best broker in India is UpStox, a privately held discount broker company which was established in 2011. Originally called RKSV, the company later changed its name to UpStox. It provides a range of retail stock market goods and services, ranking among the top stock broker in India.
What makes UpStox the best because of their hassle-free services and user-friendly trading platform for a seamless and easy experience for customers. At present, the platform has around 21 lakh active trading accounts.
Charges & Fees
- Equity Delivery Trading – Free
- Equity Intraday Trading – Rs. 20
- Commodity Options Trading – Rs.20
- Minimum Brokerage – Rs. 20
- Demat AMC Charges – Rs. 150/ annum
- Trading AMC Charges – Free
Different Trading Platform options
- UpStox Pro Web
- UpStox NEST Trader (Desktop)
- UpStox Pro Mobile (Mobile)
Pros and Cons
Pros
- Zero brokerage fee
- Easy to use user interface in mobile version.
- Free demat account (limited period)
- No paperwork, completely online
Cons
- Good orders Till Cancelled (GTC) not available in the Delivery segment.
- Cost of a call and trade is (₹50 + 18% GST) per order.
3. 5 Paisa
Established in 2016, the firm with its low brokerage charges attracted my new and experienced stock investors. 5Paisa has gained a good volume of active customers in its base. At present, the active trading accounts in 5Paisa are around 4 lac and are growing as major stock brokers in India stagnantly. The firm is also working on funding loans and developing products including NCDs, IPOs, and others.
Charges & Fee
- Equity Delivery Trading – Free
- Equity Intraday Trading – Rs. 20/order
- Commodity Options Trading – Rs.20/order
- Minimum Brokerage – Rs.10 (for smart trade)
- Demat AMC Charges – Rs. 400/ annum
- Trading AMC Charges – Free
Different Trading Platforms
- Trader Station Wen
- Trade Station EXE (Desktop)
- 5Paisa App
Pros and Cons
- Low brokerage plans with Rs 20 per order.
- You can invest on IPOs, insurance and mutual funds.
- 100% online
Cons
- Average customer care
- Fixed monthly brokerage plans not available.
4. Groww
Groww is yet another best broker for trading having a total of around 60 lac active trading accounts. Groww offers you the option of trading and investing on mutual funds, Gold, FD by their best trading app in India. Joined in the group of stock brokers in 2017, users are happy that the platform doesn’t charge on account opening and its maintenance.
Charges and Fee
- Account Opening- Free
- Equity Delivery- 0.05%
- Equity Intraday Trading – 0.05%/order
- Commodity Options Brokerage – Nil
- Equity Intraday Margin- 8x
Trading Platform
- Groww App and Website
Pros and Cons
Pros
- Commission free investment on Mutual Funds
- Opening a trading and Demat account is hassle free.
- Users can also purchase US equities, US FDs, and digital gold.
Cons
- Commodity and currency trading not available
- No call and trade service
- No SME shares investment options
5. Sharekhan
Sharekhan with more than 29 lac active traders in its platform is one of the top stock brokers in India. Sharekhan is among major stock brokers in India, that is regarded as the best for both online and stock trading. Established in 2000, it is frequently asserted that Sharekhan was largely responsible for popularizing internet trading throughout the nation. Investors have the option to invest in mutual funds, IPOs, and company stocks.
Charges & Fees
- Equity Delivery Trading – 0.5%
- Equity Intraday Trading – 0.1%
- Commodity Trading – 0.1%
- Demat AMC Charges – Rs. 300/ annum
- Trading AMC Charges – Free
Trading Platforms
- Sharekhan Website
- Trade Tiger
- Sharekhan App
Pros and Cons
Pros
- Multiple trading options
- Dedicated customer support
- No fees for fund transfer
- Online trading classes for new traders
Cons
- No 3-in-1 demat account
- No availability of commodity exchange
- High brokerage fees
6. Angel One
Angel One is yet another top stock broker in India to consider with more than 13 million active accounts. One of the oldest and the best stock broker in India, Angel one has the top-quality advisory team and helps investors in investing on right stocks. It is a legal part of BSE and NSE, making it the most reliable one.
Charges & Fee
- Equity Delivery Trading – Free
- Equity Intraday Trading – Rs. 20/order
- Commodity Options Trading – Rs. 20/ order
- Minimum Brokerage – Rs. 20/ order
- Demat AMC Charges – Free/ Rs.300
- Trading AMC Charges – Free
Trading App and Platforms
- Angel One App
- Angle One Trade
- Angel SpeedPro
- Web App
Pros and Cons
Pros
- Advanced Trading features.
- Artificial Intelligence (AI)-based investment fund.
- No NEFT/Fund transfer charges
Cons
- 3-in-1 Accounts Not Available.
- No trade in SME shares.
- GTC/GTT order facility not available.
7. Motilal Oswal
Motilal Oswal was founded in 1987 and at present, it has more than 10 lakh active users. The company offers a wide range of services, including home financing, management, and private health, which makes it the top stock broker in India. Moreover, the platform offers learning opportunities for new and advanced stock traders.
Charges and Fees
- Equity Delivery Trading – 0.50%
- Equity Intraday Trading – 0.05%
- Commodity Options Trading – 0.05%
- Minimum Brokerage – Based on the % of Transaction.
- Demat AMC Charges – Free/ Rs. 300/ annum
- Trading AMC Charges – Free
Trading Platforms
- MO Investor App
- MO Trader App
- Trading API
Pros and Cons
Pros
- Use friendly site for easy trading.
- 100% online
- Low DMC
- The large, sizable franchise network.
Cons
No 3-in-1 Demat account.
Account Opening Fees Are Expensive.
8. SBICap Securities
One of the top brokers in India, SBICap Securities has more than 3 million active users. SBICap Securities, formerly known as SBI Capital Securities, is a full-service broker that caters to public companies. Investors have the option to trade on mutual funds, FD, ETFs, and IPOs.
Charges & Fees
- Equity Delivery Trading – 0.50%
- Equity Intraday Trading – 0.08%
- Commodity Options Trading – Free
- Minimum Brokerage – Rs. 10/ order
- Demat AMC Charges – Rs. 400/ annum
- Trading AMC Charges – Free
Trading Platforms
- Mobile App
- Website
Pros and Cons
Pros
- Details research and market analysis options
- Real time customer support
- Multiple trading options
Cons
- Hidden charges
- Strict margin in derivative trading
9. India Infoline
One of the most well-liked financial and top stock brokers in India is IIFL or India Infoline has more than 30 lakh active customers. The company is a full-service broker house in the public domain that provides services across all financial industries. Since its founding in 1995, the company has expanded to foreign markets, including those in New York, Dubai, London, and numerous other developed nations.
Charges and Fees
- Equity Delivery Trading- 0.50%
- Equity Intraday Trading – 0.05%
- Commodity Options Trading – 0.05%
- Minimum Brokerage – Rs. 0.05/ share
- Demat AMC Charges – Free/ Rs.400 per annum (excluding tax)
- Trading AMC Charges – Free
Trading Platforms
- Trading APIs
- Mobile App
- Desktop version
Pros and Cons
Pros
- Free equity and mutual fund for consumers
- MF, Corporate FDs, bond, and other are some trading options.
- Complete trade assistance
Cons
- No three-in-one Demat account.
- There are no intraday tick-by-tick maps for traders.
10. ICICI Direct Securities
Established in 1994, ICICI Direct Securities has more than 20 lac active customers making it the most preferred trading platform. Investors have the option to trade in IPOs, MF, Bonds, etc. The top stock broker in India offers a 3-in-1 account for retail stock investment.
Charges & Fees
- Delivery Trading – 0.55%
- Intraday Trading – 0.03%-0.055
- Equity Options Trading – Rs. 35 – Rs. 95 per order
- Minimum Brokerage – Rs. 35/ trade
- Demat AMC Charges – Rs. 500/ annum
- Trading AMC Charges – Rs. 975/ annum
Trading Platform
- ICICIDirect All-in-one App
- ICICI Direct Market
- iLearn
- Breeze API
- Website
Pros and Cons
Pros
- One stop platform for trading.
- Trading is available in both BSE and NSE
Cons
- No assistance for commodity trading
- Charges Rs 25 per trading after first 20 free calls.
Benefits of Choosing the Best Stock Broker in India
Choosing among the top stock broker in India is quite a challenge but also beneficial in many ways. Since only some individuals have insightful knowledge about the market condition, having the best broker in India by their side is beneficial. Some of the benefits are-
1. Get Expert Guidance
Stock trading is complex, and you need expert guidance before deciding. A primary benefit of choosing a best stock broker in India is obtaining professional advice. Brokers with vast experience can provide insightful information about possible investments, market trends, and risk management techniques. This knowledge can be very helpful for new and experienced investors who want to make wise choices in stock investment.
2. Helping with Diverse Stock Investments
A trustworthy stock broker gives you access to many different investment possibilities. Having a diverse stock portfolio is the first rule of minimizing the risk and gaining maximum returns. The best stock broker in India can provide you with a wide range of investment options to assist you in creating a stable and well-balanced portfolio.
3. Advanced Trading Platforms
When you choose the top stock broker, you will have the access to the best desktop trading platform. These platforms enable investors to make trades quickly and effectively by providing real-time market data and customizable features. Moreover, these platforms have mobile apps to access the account anytime.
4.Cost-effective Trading
Choosing the best stock broker in India to trade with reasonable commissions and fees can significantly affect your total results. Numerous brokers provide low-cost index funds and discounted fees for regular traders. Investors can maximize the profitability of their investment operations and minimize their trading costs by carefully examining the fee structure.
5.Research and Educational Materials
Excellent stock brokers offer research materials to assist investors in making wise decisions. These materials carry market analysis, corporate reports, and instructional materials on trading techniques, which are a few examples. Top stock broker in India who prioritizes investor education empower their clients and help them get a deeper comprehension of the financial markets.
Factors to Consider when Choosing Top Stock Broker in India
One cannot blindly register with a stock broker. Researching well before going ahead is important. There are certain factors that will help you choose the best broker in India who will understand your investment goals. Some of these are-
1. Your Investment Goals
As a stock investor, there could be some investment goals. However, your investment strategy and broker’s choice may vary. Therefore, when you are looking for the top stock broker in India, consider your investment goals. For example, if you are looking to make long-term investments, you may want to choose an equities broker with low account maintenance charges (AMC). Similarly, you may choose to use an equity broker with lower transaction costs on trades if you want to day trade or make short-term investments.
2. Services and Customer Support
When you deposit money into a Demat account, it is in the custody of the broker. Besides, you need to have enough confidence in your broker’s ability to meet all your demands. Every investor has a particular strategy and set of techniques. Whether you choose a full-service or cheap broker, it is crucial to be sure they can meet your unique requirements. There are several Indian discount brokers available, giving you a plethora of options.
3. Minimum Balance
As an investor, you need to maintain minimum balance in your account for stock trading. Investors should select a broker who not only offers personalized service, but also has a low minimum amount requirement to avoid exceeding their monthly budget, as this amount varies depending on the broker. Moreover, having easy access to money is yet another factor to consider.
4. Tech Expert
The best stock broker in India you choose should be a tech expert who understands your requirement and offers real-time service. Additionally, the broker should be able to teach investor about new trading features making the trading process handy. Selecting a broker who offers their clients a reliable and sturdy platform on a regular basis is essential.
5. Accessible
During the trading hours, a broker ought to be accessible to promptly execute orders and resolve any issues that may emerge on their electronic platforms. It is advisable for investors to assess the website’s speed and stability, particularly during peak hours, to guarantee that site pages load effortlessly. Any delay in loading can result into losing a promising trade.
How to make money from the Stock market in India?
Over the decades, many investors in India have made huge wealth out of stock market trading. However, only some are lucky enough. Making money from the stock market involves knowledge, patience, and analytical skills. If you are registered with the best broker in India, you need to know some strategies to make money from the Indian stock market.
Some of these are-
1. Know the Power of Buy-and-Hold
Choosing buy-and-hold stocks is a popular way to make a profit from trading. This strategy entails holding stocks for a considerable time instead of trading regularly. You stand to get a substantial annual return by doing this. You may lose some earning opportunities if you keep entering and exiting the market for a long time.
2. Using Dividends for Growth
The dividend is the payment made to shareholders by the company and plays a major factor in the stock market’s growth. Dividend payments have traditionally contributed significantly to the accumulation of long-term wealth. Many top stock broker in India offer Dividend Reinvestment Plans (DRIPs), enabling automatic reinvestment and increasing your portfolio’s growth potential.
3.Diversify your Risk
Diversification is a key component of profitable stock market trading. It is possible to decrease a single stock or sector’s risk by distributing your assets over several industries. Diversification might potentially increase the total returns on your portfolio while reducing the overall impact of any given company’s bad performance. A best stock broker in India will help you do that.
Conclusion – Top Stock Broker in India
Stock market investment is risky, but with the right strategies, assistance of the best stock broker in India, and consideration of other elements, you can build wealth long-term.
FAQs about Top Stock Broker in India
1.Ques: How can I find the best stock broker in India?
Ans: Although there are enough articles to help you in finding the best stock broker in India, but you need to consider other aspects too. Whether you want to trade or invest, your risk tolerance skills, credential of the broker, etc.
2.Ques: Are top stock broker in India reliable for trading?
Ans: To trade on a reliable platform, it is important you do some good research about the stock broker and only go for the certified one.
3.Ques: Which is the safest stock broker in India?
Ans: Considering the number of active users and reliable features, Zerodha is certainly the safest one. It is the best alternative all around because of its easy-to-use interface, reasonable fees, variety of investing options, and practical features like sophisticated charting tools and technical indicators.
4.Ques: Is it possible to have multiple trading accounts with a stock broker?
Ans: It is advisable to keep a smaller number of trading accounts to avoid any kind of confusion.
5.Ques: Which broker charges lowest brokerage?
Ans: Zerodha charges the lowest brokerage of Rs 20 or 0.03%. There are others too but add hidden charges.
By Thetopstockbroker | March 10, 2024
Disclaimer: Information given in this article is for guidance only. we have intention to educate new investors. It is recommended to do proper research by investors before investing.