Top 20 Share Brokers in India 2024: Comprehensive Overview

For those who want to know the best share brokers in India, here is a list of the top 20 share brokers in India that have been performing exceptionally well. Since the role of a stockbroker is prominent in any stock-related transaction, it is necessary to have knowledge of top brokerage firms in India. This would help you in choosing the most appropriate stockbroker for your needs.

For your reference, we have highlighted the top 20 share brokers in India below.

List of Top 20 Share Brokers in India

S.No.	Stock Broker	No. of Active Clients
1	Groww	91,85,158
2	Zerodha	72,23,525
3	m.Stock	2,60,000
4	Angel One	59,83,067
5	Upstox	25,01,173
6	ICICI Direct	18,69,925
7	Kotak Securities	11,79,674
8	HDFC Securities	10,88,561
9	Motilal Oswal	8,74,230
10	SBICAP Securities	8,55,994
11	Paytm Money	8,14,342
12	Sharekhan	6,65,129
13	5paisa	5,44,270
14	IIFL	4,37,829
15	Axis Direct	3,57,390
16	Geojit BNP Paribas	2,43,444
17	Fyers	2,19,169
18	Edelweiss	2,18,206
19	Choice Broking	1,94,350
20	SMC Global	1,77,541

Now, let’s get to know them in detail below

1. Groww

Initially started as a mutual fund investment platform, Groww has come a long way by emerging as the most preferred stockbroker in today’s competitive landscape. It is primarily known for its flat fee discount brokerage model and allows investors to invest in equity, IPO, and direct mutual funds.

Trading Segment	Brokerage Charges
Equity Delivery	Rs 20 per trade (or 0.05% whichever is lower)
Equity Intraday	Rs 20 per trade (or 0.05% whichever is lower)
Equity F&O	Rs 20 per trade

Groww charges 0.05% or less per executed trade. No matter how big or small the order is, you just have to pay a maximum of Rs 20 in brokerage. Groww provides free mutual fund services, charging nothing for mutual fund redemptions or investments.

2. Zerodha

Zerodha needs no introduction. It is the most popular and long-standing discount stockbroker in India. For both seasoned traders and novice investors, Zerodha offers a wider range of investing options, including commodities, currencies, and derivatives.

Trading Segment	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)

For intraday stock, F&O, commodity, and currency trading on the NSE, BSE, and MCX, Zerodha costs INR 20 or 0.03%, whichever is lesser. For your deal, there are no up-front brokerage or turnover obligations. A brokerage fee of up to INR 20 is charged for each executed trade. Trading equity delivery carries no brokerage costs.

3. m.Stock

Incorporated in 2022, m.Stock is a discount trading platform by Mirae Assets. The idea behind the launch of this trading platform is to bring a revolutionary change in the Indian discount broking space. The discount broker is majorly known for its zero-cost brokerage plan and transparent pricing structure. It has two brokerage plans – Rs. 499 and Rs. 999.

Under its 999 plan, there is no brokerage for trading across all segments.

4. Angel One

Angel One is another popular full-service stockbroker in India that offers wide-ranging investment services including stock and commodity broking, margin funding, investment advisory, loans against shares, and others. The stockbroker started its operations in 1987.

Angel One gives free Equity Delivery trading. The maximum brokerage charged by Angel One is Rs. 20 per order and the lowest brokerage levied is 0.25% of the trade value for Equity Intraday, F&O, Currency, and Commodity.

Segment	Brokerage Fee
Monthly Fee (Fixed)	N/A
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

5. Upstox

Upstox is considered a highly technology-driven discount broker in India. It allows traders and investors to trade in different categories such as equities, commodities, currency, futures and options. The discount broker is well supported by its investors including Kalaari Capital, Ratan Tata, and GVK Davix.

Upstox levies a brokerage of Rs 20 or 2.5% of the overall trade amount (whichever is lower) in the case of equity delivery trading and a lower of Rs 20 or 0.05% for Equity Intraday, Equity Futures, Currency Futures, and Commodity Futures. For Options, the broker charges a flat brokerage of Rs 20. There are no hidden charges.

Segment	Brokerage Fee
Monthly Fee (Fixed)	N/A
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

6. ICICIdirect

Promoted by the country’s prestigious ICICI Bank, ICICIdirect is the broking arm of the banking organization. The full-service broker’s major services include equity, commodity, and currency trading at BSE, NSE, and MCX. It also offers Mutual Funds & IPO, Fixed deposits, Bond, NCD, wealth products, Home Loans, Loans against Securities, etc. It is one of the best share brokers in India.

There are four brokerage plans offered by ICICidirect. The brokerage charges under ICICIdirect ICICI Neo Plan are:

Segment	Brokerage Fee
Monthly Fee (Fixed)	N/A
Equity Delivery	0.55%
Equity Intraday	Rs 20 per order
Equity Futures	Rs 0 (Free)
Equity Options	Rs 20 per order
Currency Futures	Rs 20 per order
Currency Options	Rs 20 per order
Commodity Futures	Rs 20 per order
Commodity Options	Rs 20 per order

7. Kotak Securities

Started operating in 1994, Kotak Securities Ltd is a full-service stock broker in India. It is subsidiary of Kotak Mahindra Bank. It allows investment in equities, commodities, currency, and mutual funds. It also offers other offerings such as Research SMS, depository services, margin trading, and insurance. One can also invest in the US stocks through Kotak Securites.

Kotak Securities charges a brokerage of 0.25% (Minimum Rs 20 per trade) for equity delivery, 0 for intraday, and flat Rs. 20 per executed trade for all other segments.

Segment	Brokerage
Monthly Fee (Fixed)	N/A
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

8. HDFC Securities

HDFC Securities was set up in 2009 and is a subsidiary of the well-known HDFC Bank. It is one of the most popular full-service stock brokers in India. It enables its clients to trade and invest in bonds, shares, buybacks, futures, options, IPOs, mutual funds, currency derivatives, commodities, stock portfolios, etc. HDFC Securities is registered with SEBI and an active member of BSE, NSE, MCX, CDSL and NSDL.

The full-service stockbroker charges a minimum brokerage of Rs. 25 as the brokerage for Equity Intraday, Delivery, and Futures. For options, the company follows a per lot brokerage model for Equity Options and Commodity Options and per contract basis for Currency Options.

Segment	Brokerage Charges
Plan	Lite Zero	Lite 199	Lite 299	Lite 999	Alpha 1999	Alpha 2999	Alpha+ 3999	Alpha 4999	Alpha+ 5999
Plan (Subscription Fee)	Rs 0	Rs 199	Rs 299	Rs 999	Rs 1,999	Rs 2,999	Rs 3,999	Rs 4,999	Rs 5,999
Equity Delivery(%)	0.50	0.32	0.27	0.22	0.18	0.15	0.15	0.10	0.10
Equity Intraday(%)	0.050	0.032	0.027	0.022	0.018	0.015	0.015	0.010	0.010
Options (per order)	Rs 20	Rs 20	Rs 20	Rs 20	Rs 20	Rs 20	Rs 20	Rs 20	Rs 20
Futures (per order)	Rs 20	Rs 20	Rs 20	Rs 20	Rs 20	Rs 20	Rs 20	Rs 20	Rs 20
Zero Brokerage on ETF	No	No	No	No	No	No	Yes	No	Yes

9. Motilal Oswal

Setup in 1987, Motilal Oswal is one of the prominent stockbrokers in India. It also offers other products like Mutual Funds, IPOs, US Stocks, Gold, Insurance, Fixed Income products and readymade portfolios such as Stock Baskets, Intelligent Advisory Portfolios, etc.

Motilal Oswal levies the brokerage at 0.20% for Equity Delivery, 0.02% for Intraday Futures, and Rs 20 per lot for Equity and Currency Options. The commodity brokerage charges stand at 0.02% for Futures and Rs 200 per lot for Options.

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

10. SBI Securities

SBICAP Securities Ltd (SSL) is the stock broking arm of the State Bank Group. The full-service stockbroker is a 100% subsidiary of SBI Capital Markets Ltd. SSL. Setup in 2006, the broker offers various services including Institution Equity, Retail Equity, Derivatives, Broking, Depository services, and Third Party Distribution products.

Segment	Brokerage
Monthly Fee (Fixed)	N/A
Equity Delivery	0.50%
Equity Intraday	0.05%
Equity Futures	0.05%
Equity Options	Rs 100 per lot (sell and buy side)
Currency Futures	0.03%
Currency Options	Rs 30 per lot
Commodity Futures	0.05%
Commodity Options	Rs 100 (sell and buy side)

The overall trading charges that a client must pay for trading in equities with SBI Securities are as follows: SBICAP Securities equities Brokerage Charges (Equity Delivery Brokerage – 0.50%, Equity Intraday Brokerage – 0.05%, Options Brokerage – Rs 100 Per Lot, and Futures Brokerage – 0.05%).

11. Paytm Money

Started in 2017, Paytm Money is a discount stockbroker based out of Bengaluru. One97 Communications Ltd., the biggest and most successful digital products and mobile platform in India, which also owns the Paytm brand, is the parent company of Paytm Money. The RBI has approved the Indian e-commerce payment platform Paytm.

Trading Segment	Brokerage Charges
Equity Delivery	Rs 20 or 2.5% of turnover (whichever is lower)
Equity Intraday	Rs 20 or 0.05% of turnover (whichever is lower)
Equity Future	Rs. 0.01 upto Rs 20 per Executed Order
Equity Options	Rs 20 per order

Paytm Money is abide by a fixed brokerage model in which herein it charges a flat Rs 20 or 0.05% (whichever is lower) per executed order for intraday trading. The maximum brokerage chargeable per order across all segments is Rs 20.

12. Sharekhan

Sharekhan is one of the oldest full-service stockbrokers in India and offers online trading and investing services for brokerage through its outstanding trading platforms. Its major offerings include trading for Equity, Derivatives, Currencies, and Commodities as well as investments in IPOs, Mutual Funds, Insurance, Bonds, and NCDs. Sharekhan also provides services like margin funding, portfolio management, and NRI services.

Segment	Brokerage Fee
Monthly Fee (Fixed)	N/A
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

Sharekhan charges a brokerage of 0.30% on the market rate or at least 1 paisa per share for Equity Delivery trades and 0.02% on the market rate or a minimum of 1 paisa per share for trades.

13. 5Paisa

5Paisa is a top-rated online discount broker and allows investment in equity, commodity, and currency at BSE, NSE, and MCX. Its trading platforms are Mobile Trading App, Trading Website, and Installable Trading Terminal. All these platforms are made using the latest technology and known for their user-friendliness.

5paisa follows a simple pricing model of Rs 20 per executed order across all segments and products regardless of the transaction ticket and amount.

Segment	Brokerage Fee
Monthly Fee (Fixed)	N/A
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

14. IIFL Securities

IIFL is considered among the top stock brokers in India with an amazing online and offline presence. IIFL Securities Mobile App and trading platforms are made to meet the needs of different types of investors. Account holders will also receive performance analysis and comprehensive information.

IIFL charges a brokerage of 0.025% for intraday equity transactions and 0.25% for equity delivery per executed trade.

15. Axis Direct

Setup in 2005 and a part of Axis Bank Axis Securities is a full-service broker in India. It offers stock broking services and distribution of financial products to its clients. The stockbroker offers investment in Equities, Mutual Fund, SIP, IPO, Derivatives, Bond, NCD, ETF and Company Fixed Deposits. Axis Sec also offers Home Loans, Auto Loans, Personal Loans, Loan against Property, Loan against Shares and Loans for SME, Credit and Prepaid Cards.

The brokerage charges of Axis Direct are:

Segment	Brokerage Fee
Monthly Fee (Fixed)	NA
Equity Delivery	0.50%
Equity Intraday	0.05%
Equity Futures	0.05%
Equity Options	Intraday: Rs 0.01 per lot | Carry Forward: Rs 10 per lot
Currency Futures	0.05%
Currency Options	Intraday: Rs 0.01 per lot | Carry Forward: Rs 10 per l
Commodity Futures	0.03%
Commodity Options	Rs 50 per lot

16. Geojit BNP Paribas

Started operating in 1987, Geojit BNP Paribas is one of top stockbrokers in India. Geojit is based in Kochi, Kerala and enjoys a fabulous presence in Gulf.Geojit BNP Paribas is cash equity and derivatives broker backed by years of expertise in Portfolio Management Services, mutual funds and life insurance.

Geojit Equity’s Brokerage Charges are as follow:

Segment	Brokerage Fee
Monthly Fee (Fixed)	N/A
Equity Delivery	0.30%
Equity Intraday	0.03%
Equity Futures	0.01%
Equity Options	Rs 50 per lot
Currency Futures	0.01%
Currency Options	Rs 50 per lot
Commodity Futures	NA
Commodity Options	NA

17. Fyers

Fyers Securities is a Bangalore-based online discount stock broker set up in 2015. It offers trading and investment in Equity Cash, F&O and Currency Derivatives segments at NSE. The term FYERS refers to the meaning ‘Focus Your Energy & Reform the Self’, which highlights the intrinsic values of the company.

Fyers has a fixed brokerage model in which it charges a flat Rs 20 or 0.03% (whichever is lower) per executed order. There is 0 brokerage for equity delivery. The maximum brokerage chargeable per order is Rs 20.

Segment	Brokerage
Equity Delivery	Free (No Brokerage)
Equity Intraday	Rs 20 per executed order of 0.03% whichever is lower
Futures (Equity, Currency, Commodity)	Rs 20 per executed order of 0.03% whichever is lower
Options (Equity, Currency, Commodity)	Rs 20 per executed order

19. Nuvama

Earlier known as Edelweiss Broking Ltd., Nuvama Wealth & Investment Limited (formerly Edelweiss full-service stockbroking firm based out of Mumbai. The group has excellent presence across India and offers investment in all major asset categories including Equity, Debt, Mutual Funds, IPOs, Currency Derivatives, commodities, and Futures & Options..

Nuvama Lite Plan offers a flat-rate discount brokerage model offered to its clients. It charges flat Rs 10 per executed order for trading in equity delivery, intraday, and F&O. The goes same for trading in currency derivatives.

Segment	Brokerage Charges
Equity Delivery & Intra-day	Rs 10 per executed order
Equity Futures & Options	Rs 10 per executed order
Currency Futures & Options	Rs 10 per executed order

19. Choice Broking

A full-service stockbroking company, Choice Broking, was founded in 2010 and is headquartered in Mumbai. Choice International Limited, a publicly traded financial services company founded in 1993, is the parent company of Choice Broking.

For Intraday, Delivery, and Futures, the business charges a brokerage on a percentage basis; for Options, the brokerage is based on a flat cost.

Segment	Brokerage Charges
Equity Delivery	0.20%
Equity Intra-day	0.02%
Equity Futures	0.02%
Equity Options	Rs 25 per lot
Currency Futures	0.02%
Currency Options	Rs 20 per lot
Commodity Futures	0.02%
Commodity Options	Rs 50 per lot

20. SMC Global

Incorporated in 1994, SMC Global Limited is one of the top brokerage firms in India. It offers wide-ranging services across brokerage, investment banking, and wealth management. It offers trading in Equities, Derivatives, Currency, Commodities, IPOs, Mutual Funds and Bonds, etc.

Its brokerage charges are defined below.

Segment	Brokerage Fee
Monthly Fee (Fixed)	N/A
Equity Delivery	0.3%
Equity Intraday	0.03%
Equity Futures	0.03%
Equity Options	Rs 70 per lot
Currency Futures	0.03%
Currency Options	Rs 20 per lot
Commodity Futures	0.03%
Commodity Options	0.03%

Also read: Best Trading Platform in India

The Conclusion
Hopefully, the aforementioned details of the top 20 share brokers in India would help you get to know the top brokerage firms in India in detail. This would also help you choose the most appropriate stock broker for your trading and investment needs.