Stock market investment has become a new trend in Indian financial landscape. Investors are becoming more attracted towards stock market investments due to attractive returns and easy investment process. And, when it comes to trading or investing in stocks, choosing the right stock broker is necessary.
There are numerous stock brokers in India that offer easy and valuable investment in stocks. For your reference, we are going to feature top 10 stock brokers in India for 2024 and compare their salient features and reviews. You can choose from these best stock brokers in India and say yes to an easy journey to stock trading and investments.
Why Choosing the Right Stock Broker is Necessary?
Being one of the fastest growing economies in the world, Indian stock market has been attracting investors and trades from across the country. The stock market offers fabulous growth opportunities to both short-term and long-term investors due to the presence of established corporations and emerging startups. However, choosing the right stockbroker can help you get the much-needed support for trading and investment in stocks.
There are mainly two types of stockbrokers in India – full-service brokers and discount brokers.
As their name indicates, full-service stock brokers offer a wide range of services for which they charge higher brokerage as compared to their counterparts. Some of their offered services are detailed market research reports, investment advisory, portfolio management, retirement planning, and financial advisory. These brokers are mainly suited for those skilled and experienced traders who always look for the best and don’t worry paying higher brokerage against top-notch broker services.
Another type of broker is discount broker. The discount stockbrokers are known for their low brokerage plans and their offered services are not that much expensive as of full-service stockbrokers. Though most discount brokers offer advanced research reports and portfolio management, these brokers fall much behind full-service stockbroker in regard to offered services. Some discount brokers even offer their services are zero brokerage.
Top 10 Stock Brokers in India in 2024
Below are the top 10 stockbrokers in India in the year 2024.
1. Zerodha
Zerodha is a frontrunner in the stock broking landscape. Being of the best stockbrokers in India, Zerodha started its operations in 2010 and offers zero brokerage for equity delivery trading and direct mutual funds. Apart from offering technically enriched trading platform, the discount broker levies brokerage of flat Rs. 20 or 0.03% (whichever lower) for other categories.
Features:
- Biggest stockbroker in terms of active no. of clients
- Safety a top priority
- Advanced trading tools
- Up to 20x leverage on intraday trading
- Zero commission direct mutual funds
- Maximum brokerage is capped at Rs. 20 per trade order
- Zero brokerage for equity delivery
- Free Demat and Trading account opening
Brokerage
| Trading Category | Brokerage Charges |
| Equity Delivery | Rs 0 (Free) |
| Equity Intraday | Flat Rs 20 or 0.03% (whichever is lower) per executed order |
| Equity Future | Flat Rs 20 or 0.03% (whichever is lower) per executed order |
| Equity Options | Flat Rs 20 per executed order (on Turnover) |
| Currency Futures | Flat Rs 20 or 0.03% (whichever is lower) per executed order |
| Currency Options | Flat Rs 20 or 0.03% (whichever is lower) per executed order |
| Commodity | Flat Rs 20 or 0.03% (whichever is lower) per executed order |
| Mutual Fund | Rs 0 (Free Unlimited Direct MF) |
2. Stock
m.Stock is one of the fast-emerging discount stock brokers in India. It is mainly known for its direct and translucent pricing model. The most exciting part of m.Stock is its zero brokerage on all equity delivery trades. The stockbroker charges zero brokerage under its Rs. 999 plan.
Features:
- Fast and hassle-free fund transfer
- Professional customer support
- User-friendly trading platforms
- Comprehensive research tools
- No order limits
- Best-in-class account safety & security features such as 2-factor authentication, data encryption, etc.
3. Groww
Started its journey as a mutual fund investment platform, Groww has emerged as a reliable stockbroker in India. Its flat fee brokerage model makes it one of the top stock brokers in India in 2024. Groww was established in 2016 by Flipkart employees including Lalit Keshre, Neeraj Singh, Harsh Jain, and Ishan Bansal.
Features:
- Flat Rs. 20 flat brokerage
- 0 annual maintenance charges
- Zero commission on direct mutual funds
- Easy investment in US stocks and ETFs
- Free digital Demat account opening
- Tech-driven trading platforms
- Simple and transparent investment structure
Brokerage
| Segment | Brokerage |
| Plan Name | Flat Brokerage Plan |
| Monthly Plan | NA |
| Equity Delivery | 0.05% or Rs 20 whichever is lower |
| Equity Intraday | 0.05% or Rs 20 whichever is lower |
| Equity Futures | Flat Fee Rs 20 |
| Equity Options | Flat Fee Rs 20 |
| Currency Futures | Not Available |
| Currency Options | Not Available |
| Commodity | Not Available |
4. Upstox
In the list of tech-driven stockbrokers in India, Upstox leads the way by offering low-cost stock broking services the easier way. The discount broker allows its clients to trade in equities, currency, commodities, futures and options. The stockbroker is funded by a cluster of investors including Ratan Tata, Kalaari Capital, and GVK Davix
There are no charges for account opening with Upstox whereas the Demat account maintenance charges are Rs. 150 per year. Upstox levies a brokerage of Rs 20 or 2.5% of trade order value (whichever is lower) for Equity Delivery trading and Rs 20 or 0.05% (whichever is lower) for Equity Intraday, Equity Futures, Currency Futures, and Commodity Futures. In the case of Options, the broker levies a brokerage of flat Rs 20.
Features:
- Zero cost account opening
- Flat Rs. 20 brokerage across all categories
- Advanced order types
- Margin trading available
- Advanced trading platforms
Brokerage
| Category | Brokerage Fee |
| Monthly Fee (Fixed) | NA |
| Equity Delivery | Rs 20 per executed order or 2.5% whichever is low |
| Equity Intraday | Rs 20 per executed order or 0.05% whichever is lower |
| Equity Futures | Rs 20 per executed order or 0.05% whichever is lower |
| Equity Options | Rs 20 per executed order |
| Currency Futures | Rs 20 per executed order or 0.05% whichever is lower |
| Currency Options | Rs 20 per executed order |
| Commodity Futures | Rs 20 per executed order or 0.05% whichever is lower |
| Commodity Options | Rs 20 per executed order |
5. Angel One
Established in 1987, Angel One is a full-service stockbroker in India and offers discount brokerage services. The stockbroker offers wide-ranging services including stock investment, investment advisory, loan against shares, margin funding, and financial products delivery.
Angel One levies zero brokerage on Equity Delivery trading. The maximum brokerage by the stock broker is capped at Rs 20 per order whereas the lowest brokerage charged is set at 0.25% of the trade order value for Equity Intraday, F&O, Currency, and Commodity.
Features:
- Zero cost fund transfer
- Flat brokerage of Rs. 20 across various categories
- Free stock advisory
- Option to call RM
- Margin trading
- Low-cost full-service brokerage services
Brokerage
| Category | Brokerage |
| Monthly Fee (Fixed) | |
| Equity Delivery | Rs 0 (Free) |
| Equity Intraday | Rs 20 per executed order |
| Equity Futures | Rs 20 per executed order |
| Equity Options | Rs 20 per executed order |
| Currency Futures | Rs 20 per executed order |
| Currency Options | Rs 20 per executed order |
| Commodity Futures | Rs 20 per executed order |
| Commodity Options | Rs 20 per executed order |
6. Kotak Securities
Kotak Securities Ltd. is an Indian full-service stock broker that opened for business in 1994. It is a Kotak Mahindra Bank subsidiary. Investments in mutual funds, currencies, commodities, and stocks are all permitted. In addition, it provides banking services, insurance, margin trading, and research SMS.
Through Kotak Securites, investments in US stocks are also possible. For stock delivery, Kotak Securities charges a commission of 0.25% (minimum Rs 20 per trade), 0 for intraday, and for all other segments, a flat fee of Rs. 20 per executed trade.
Features:
- Trinity account
- Excellent physical network
- Backed by over 2 decades of experience
- Free research reports
- Wide-ranging brokerage plans
Brokerage:
| Segment | Brokerage Fee |
| Monthly Fee (Fixed) | |
| Equity Delivery | 0.25% (Minimum Rs 20 per trade) |
| Equity Intraday | Free |
| Equity Futures | Delivery: Rs 20 per trade | Intraday: Free |
| Equity Options | Delivery: Rs 20 per trade | Intraday: Free |
| Currency Futures | Delivery: Rs 20 per trade | Intraday: Free |
| Currency Options | Delivery: Rs 20 per trade | Intraday: Free |
| Commodity Futures | Delivery: Rs 20 per trade | Intraday: Free |
| Commodity Options | Delivery: Rs 20 per trade | Intraday: Free |
7. HDFC Securities
Established in the year 2000, HDFC Securities is counted among the top full-service stockbrokers in India. It enables its clients to invest in bonds, shares, buybacks, futures, options, IPOs, mutual funds, commodities, currency, stock portfolio etc. The full-service stockbroker is registered with SEBI and an active member of BSE, NSE, MCX, CDSL and NSDL.
Features:
- Quick, paperless account opening
- In-depth portfolio monitoring
- Margin trading
- 3-in-1 account opening
- Wide-ranging brokerage plans
- 24/7 client support
- Lowest brokerage of 0.10% per equity delivery trade
Brokerage
| Segment | Brokerage Fee |
| Monthly Fee (Fixed) | Rs 199 per year |
| Equity Delivery | 0.32% |
| Equity Intraday | 0.032% |
| Equity Futures | Rs 20 per trade |
| Equity Options | Rs 20 per trade |
| Currency Futures | |
| Currency Options | |
| Commodity Futures | |
| Commodity Options |
8. Motilal Oswal
Motilal Oswal, one of India’s leading stockbrokers, was founded in 1987. In addition, it provides other goods like insurance, gold, US stocks, mutual funds, initial public offerings, fixed income products, and pre-made portfolios like stock baskets and intelligent advisory portfolios.
The brokerage fees charged by Motilal Oswal are Rs 20 per lot for equity and currency options, 0.02% for intraday futures, and 0.20% for equity delivery. The brokerage fees for commodities are Rs 200 per lot for options and 0.02% for futures.
Features:
- Free equity intraday trading
- Stock SIP feature
- Up to 4X margin
- Free trading software
- Wide-ranging investment options
- Detailed research reports
Brokerage
| Segment | Brokerage |
| Equity Delivery | 0.20% |
| Equity Intraday | Lifetime Free |
| Equity Futures | 0.02% |
| Equity Options | Rs 20 per lot |
| Commodity Futures | 0.02% |
| Commodity Options | Rs 200 Per Lot |
| Currency Futures | Rs 20 per lot |
| Currency Options | Rs 20 per lot |
9. 5Paisa
Being a leading online discount broker in India, 5Paisa offers currency, commodities, and equities trading at the BSE, NSE, and MCX. Installable Trading Terminal, Trading Website, and Mobile Trading App are its trading platforms. These platforms are all well-known for being user-friendly and are created with the newest technologies.
Regardless of the transaction ticket and amount, 5paisa has a straightforward pricing approach that charges Rs 20 for each executed order across all categories and goods.
Features:
- Flat brokerage of Rs. 20 per trade
- Research and advisory on over 4K companies
- Lowest DP charges
- Multilingual trading app
- Algo trading
- Robo advisory
- Zero cost mutual fund account
Brokerage
| Segment | Brokerage Fee |
| Monthly Fee (Fixed) | NA |
| Equity Delivery | Rs 20 per executed order |
| Equity Intraday | Rs 20 per executed order |
| Equity Futures | Rs 20 per executed order |
| Equity Options | Rs 20 per executed order |
| Currency Futures | Rs 20 per executed order |
| Currency Options | Rs 20 per executed order |
| Commodity Futures | Rs 20 per executed order |
| Commodity Options | Rs 20 per executed order |
10. Sharekhan
One of the oldest full-service stockbrokers in India, Sharekhan provides brokerage services for online trading and investment through its excellent trading platforms. Investing in IPOs, mutual funds, bonds, NCDs, insurance, and commodities are among its primary offerings, along with trading in equity, derivatives, currencies, and commodities. In addition, Sharekhan offers NRI services, portfolio management, and margin funding.
Features:
- Pay only for profit feature
- Free call and trade
- Fixed deposits as a collateral
- Research-backed financial advisory
- Excellent physical branch network
- Investment training courses
Brokerage
| Segment | Brokerage Fee |
| Monthly Fee (Fixed) | |
| Equity Delivery | 0.30% on market rate or minimum 1 paisa per share |
| Equity Intraday | 0.02% on market rate or minimum 1 paisa per share |
| Equity Futures | 0.02% per transaction value |
| Equity Options | Rs 20 per lot |
| Currency Futures | 0.02% per transaction value |
| Currency Options | Rs 5 per lot |
| Commodity Futures | 0.02% |
| Commodity Options | Rs 20 per lot |
The Conclusion
If you are looking for the best stock brokers in India, the aforementioned stockbroker comparison in 2024 would help you compare the features and brokerage of the top 10 stockbrokers in India. You can also check our post on top trading platforms in India to find out the most valuable trading platform for your trading and investment needs.
By Thetopstockbroker | December 12, 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.