Best Stock Brokers in India
Table of Contents
Are you looking to open your demat and trading account, but confused about which stockbroker to choose? We have got you covered in this post. Today, we are going to discuss the 15 best stock brokers in India (2022) to open your demat and trading account.
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Click here to open account with Zerodha
Zerodha is the biggest and the best stockbroker in Indian with over 4 million clients that make up the +15% of daily retail trading volumes on Indian stock exchanges.
Started in 2010, Zerodha popularized the concept of the discount brokerage in the Indian equity market with a no brokerage model for investors and a flat Rs 20 per trade brokerage charges for the intraday and other trades. Competing with big players like HDFC and ICICI is indeed a difficult task but Zerodha has managed to remain the Number One discount broker of the country. There are other competitors too in discount broking, however Zerodha, being the largest discount broking firm in India, enjoys a massive customer base in India.
Click here to open account with Zerodha
Open your account with Upstox click here
Services offered: Upstox offers trading services in equity, currency, and commodity
Upstox is a fast-growing discount broker, backed by a group of leading investors including Kalaari Capital, Ratan Tata, GVK Davix, etc. It is also known as RKSV. Upstox started as RKSV in 2012 and rebranded to Upstox in 2015. As of Jan 2021, Upstox has the second-highest number of active clients on NSE after Zerodha.
Upstox Brokerage charges
While trading with Upstox, equity delivery trades are free of cost. For intraday trading on BSE, NSE and MCX, and F&O it is 0.05% or up to Rs. 20 per order traded. Irrespective of the order size, the brokerage cost is only Rs. 20 per order traded.
Upstox Demat And Trading account opening Charges:
Trading Platform: Upstox Pro Web Trading Platform, Bridge for AmiBroker, Developer Console, Option Chain Tool, Upstox MF Platform
Pros of Upstox:
Cons of Upstox:
Open your account with Upstox click here
Open your FREE account with Groww click here
Groww is one of the fastest-growing investment platforms in India. Groww is the brand name for Nextbillion Technology Private Limited – a SEBI registered stockbroker and a member of NSE and BSE. Initially, Groww a Bangalore-based startup was set up in 2016 as a platform to directly invest in mutual funds. Keeping up with the increase in demand for equity trading in the midst of the pandemic the company also offered equity trading.
The vision behind the Groww App was to set up was to create a powerful yet simplest to use App for trading from anywhere. With this, the app came up with the philosophy of making “Investing should be as simple as online shopping”. Today the company offers Mutual Funds, Demat Services, Trading Services, Intraday Services, IPO Services, and Trading Exposure.
The following rates applicable:
Pros of Groww Demat & Trading Account:
Cons of Groww Demat & Trading Account:
Futures & Options (Derivatives), Currency and Commodity trading facility not available yet.
As a newer entrant, the trading platform yet to be tested to work smoothly on high trading days.
Open your FREE account with Groww click here
Click here to FREE Angle One Trading & Demat Account
Incorporated in 1987, Angel broking is a big brand having +30 Years of experience in the broking world and +1 million happy customers. They have a presence in over 1800+ cities in India. Angel Broking offers the trading facility in Equity, F&O, Commodities, and currency across BSE, NSE, NCDEX & MCX.
Although Angel Broking worked as a full-service broker and offered a percentage brokerage charge to its clients for over two decades. However, they recently changed their business model (Nov 2019) from percentage brokerage to flat rates to compete with rapidly growing discount brokers like Zerodha, 5Paisa, Upstox, etc.
Angel Broking now offers a flat rate brokerage plan, named ‘Angel iTrade PRIME’. Here, the delivery trading is FREE of cost. And for all other segments i.e. Intraday, F&O, Currencies & Commodities, they charge a fixed rate of ₹20 per. The same simple rate is applicable across exchanges and segments.
One of the key advantages of trading with Angel Broking is that they provide guidance/recommendations for investing in the stock market along with research reports on companies and many other value-adding tools and services.
Services Offered: Angel Broking offers its services in Equity, Commodity, Currency, PMS, Life Insurance, ETFs, IPOs & Mutual Funds.
Angel Broking Brokerage Charge:
Account Opening Charges with Angel Broking:
Trading Platform: Angel iTrade, Angel Broking Mobile App, Angel BEE
Pros of Angel Broking:
Cons of Angel Broking:
Click here to FREE Angle One Trading & Demat Account
The ICICI Direct which is a part of ICICI Securities ranks number one in the full-service stockbrokers’ list. It is armed by the leading private financial services provider ICICI Group which is in existence since 1994. The high-quality and customized services along with the 3-in-1 account facility are what the company counts on to be able to capture such a vast number of active clients.
ICICI Direct have been number one in terms of active customers until 2019 when the top discount broking firm Zerodha toppled them with a client base of more than 2 million. However, ICICI Direct is the most visited trading platform in India.
ICICI Direct offers different types of brokerage plans like I-Secure, I-Saver & Prepaid to choose from. However, recently they also entered the discount brokerage model with ICICI Direct Prime brokerage plan. Here are the details:
Click here to open FREE 5paisa demat & trading Account
5Paisa is a part of IIFL (India Infoline) and offers the cheapest stock brokerage in India. IIFL launched 5Paisa to offer a lower brokerage platform for its clients and to compete with the fast-growing discount broking industry.
Services offered: Apart from trading in equity, currency, commodity, 5Paisa also offers its services in mutual funds, Insurances, Personal loans.
5Paisa Brokerage charges
5Paisa offers free trading in equity and flat brokerage in other segments. Here are the brokerage charges offered by 5Paisa:
5Paisa Demat And Trading account opening Charges:
Trading Platform: Investor terminal web platform, trader terminal, 5Paisa share trading mobile app
Pros of 5Paisa:
Cons of 5Paisa:
Click here to open FREE 5paisa demat & trading Account
HDFC Securities Limited is a subsidiary of the largest private sector bank HDFC with a huge online and offline presence and has been in existence for the last two decades. The company is named as one of the topmost full-service stockbrokers of India and has its headquarter in Mumbai with more than 270 offices and branches across the country.
Known for its comprehensive services to a variety of clients and professional traders with online as well as offline trading services, HDFC Securities Limited offers a wide range of stockbroking services along with the distribution of financial products. The customers of this broking house can trade through stocks, mutual funds, commodities, fds, bonds etc, and have the benefit of trading and investing with an award-winning broking house.
Here are a few key points and features to know about ICICI Direct:
(Source: HDFC Securites)
Trading Platform and other Key Points:
HDFC Securities offers web trading platforms, Blink, ProTerminal, and Mobile App to their clients to trade and invest in stocks. A few of the best pros of HDFC securities are 3-in-11 Account (Demat+Trading+Savings), facility to invest in US stocks, Umbrella platform for different investment instruments, Research Reports, Equity Recommendation to Clients, and NRI Section. On the other hand, like every other big full-service broker, the cons of HDFC securities are High brokerage charges and no commodity trading facility.
Founded in 1994, Kotak Securities Ltd is a subsidiary of Kotak Mahindra Bank with a presence in 360+ cities. Ranked among the top five full-service brokers and one of the very few stockbrokers who provide a 3-in-1 account facility, Kotak Securities Limited is acclaimed to be unconventional when it comes to delivering unique services to their clients.
As a part of the well known financial service provider The Kotak Mahindra Group, Kotak Securities along with its group offer various multi-asset class investment and trading product and services, distribution services, insurance products, investment banking and a lot more to their wide range of clients spread across India as well as the globe.
The company has been the first broker all over the country to introduce Margin Finance for online trading, IPO and Mutual Fund Investments over the phone, SMS alerts right before the execution of the depository transaction, Autoinvest and Margin against securities using shares in the Demat account. This is the reason why it is renowned for its innovations and using advanced technologies to make investment and trading experience smoother for their clients.
Recently Kotak securities launched Trade FREE plan with a discount broking model. Here are the details:
You can find more information on Kotak securities’ FREE trade plan here.
Services: Equity, Derivatives, Mutual Funds, IPOs, ETFs, Currency, bonds, ETFs
Trading Platform: XTRALITE (web), KEAT PRO X (terminal application), Fastlane, Stock Trader(mobile app)
Pros of Kotak Securities:
Cons of Kotak Securites:
Incorporated in 1995, India Infoline (IIFL) has a wide network of over 4,000+ branches spread over 900+ cities across India. It is also the parent company of 5Paisa securities (discount broker). IIFL is a well-trusted financial service provider in India which offers fast online trading along with research-based advisory services. It offers services to invest and trade in Stocks, Derivatives, Commodities, Insurance, FDs, Loans, IPO and Bonds, etc.
IIFL offers multiple brokerage plans like Investor Plan (Online Plus), Premium Plan (Dedicated RM) and Super Trader Plan (Pro Traders).
Services: Stocks, Derivatives, Commodities, Insurance, FD’s, Loans, Bonds
Trading Platform: IIFT Trader Terminal, Investor Terminal (IT), IIFL Trader Terminal App
Pros of India Infoline (IIFL):
Cons of India Infoline (IIFL):
With over 20+ years of experience in trading and investment, spread over 500+ cities and comprising 2,200+ Business Locations, it is one of the most reputable stock brokers in India. From sub-brokers to the pioneering entrepreneurs of a business in the financial services, Mr Motilal Oswal and Mr Ramdeo Agrawal are the two big names in the Indian stock market who have focused on providing high-quality research based stock recommendations to the clients and today they are big players in the stock market and are one of the largest stock-broking firms in this industry.
They just not stuck into the broking business but also entered many new avenues eventually such as private equity, investment banking, mutual funds, portfolio management service, wealth management and all of that a typical financial service company would provide.
Motilal Oswal Securities Limited is a subsidiary firm of Motilal Oswal Financial Service Limited. Today, this diversified financial service firm holds diversity in the clients too as they have retail customers, foreign institutional investors, High Net Worth Individuals, financial institutions and small and large corporates.
Services: Equity, Derivatives, Commodities, Currency, IPOs, Mutual Funds
Trading Platform: Motilal Oswal Trade, Desktop trading platform, web trading platform, Mobile App
Pros of Motilal Oswal:
Cons of Motilal Oswal:
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