Best Stock Broker in India | List of Top 10 Stock Brokers in India

Selecting the best stock broker in India can significantly influence your investment journey. As we explore the top 10 stock brokers in India, consider aligning their personalized features with your strategic investment goals—whether you’re looking for cutting-edge technology or detailed market analysis—to ensure a seamless trading experience. In this article, we will explore how you can empower your investment journey with the right choice by your side!

Stock brokers are largely referred to as agents who are skilled and certified to invest in the securities market. They typically act as agents for buyers and sellers of stocks and charge a fee against the delivery of their services. It is necessary to keep in mind that a stock broker does not own the securities.

Top 10 Stock Brokers in India Their Charges, Features and Offers

Types of Stock Brokers

There are primarily two types of stock brokers in India:

1. Discount Brokers – Discount Brokers in India are known to offer better investing tools and low brokerage fees.
2. Full-Service Brokers – A full-service brokerage firm offers personalized recommendations and services and hence comes with a higher fee.

We’ve carefully created a list of the top stock brokers in India, each providing a unique combination of services, benefits, and knowledge. This article serves as your road map for understanding the many possibilities available and making a decision that aligns with your financial goals.

List of Best Stock Brokers in India in 2024

1. Zerodha

In 2010, Nithin Kamath founded Zerodha, which is now among the top stock brokers in India. Zerodha, headquartered in Bangalore, India, distinguishes itself by low broker fees and advanced trading systems. It is known for providing traders and investors with a wealth of resources for making educated choices, including algo trading.

Pros	Cons
Reasonable broker fees	No Stock Tips or Research Reports
Advanced trading tools	Limited customer support
A variety of goods and services	Slow Account Opening
Reliable customer support	No 3 in 1 Account

Service Offered

• • Equities
  • Derivatives
  • Currency
  • Commodities
  • Mutual Fund Investment
  • IPO Investing

Name Of Their Trading Platform

• • Kite
  • Zerodha Pi
  • Console

Brokerage Charges:

Segment	Charge
Delivery	₹ 0
Intraday	0.03% or ₹20, whichever is less per order.
Futures	0.03% or ₹20, whichever is less per order.
Options	₹20 per executed order

Account Opening Charges – ₹200

Detail Page: Zerodha Stock Broker

2. Upstox

Upstox, previously RKSV, has grown extensively and received investments from valuable businesses, including Kalaari Capital, Ratan Tata, and GVK Davix, to become one of the top stock brokers.

Pros	Cons
Best trading broker as it offers No fees for trading	No GTC/GTT orders
Swift Creation Of A Paperless Account	Delivery transactions do not offer margin funding.
Shareholdings To Assist In Margin Trading	Occasionally reported technical concerns with apps
Affordable Brokerage Fees	No Stock Tips or Research Reports
User-Friendly And Intuitive Trading Platform	Chargeable call and trade option

Service Offered

• • Equity
  • Commodity
  • Currency
  • Mutual fund
  • ETF
  • Derivatives

Name Of Their Trading Platform

• • • Upstox Pro Web Trading Platform
    • Bridge for AmiBroker
    • Developer Console
    • Option Chain Tool
    • Upstox MF Platform

Brokerage Charges:

Segment	Charge
Delivery	2.5% or ₹20, whichever is lower per executed order
Intraday	0.05% or ₹20, whichever is lower per executed order
Futures	0.05% or ₹20, whichever is lower per executed order
Options	₹20 per executed order

Account Opening Charges – Zero

Detail Page: Upstox Stock Broker

3. 5paisa

Since 2007, 5paisa has been a fast-growing discount broker in India. The platform is known for its low costs and large choice of services. It caters to tech-savvy investors searching for low-cost decisions.

Pros	Cons
Fixed-Rate Pricing	Margin Funding Challenges
All-in-One Account	High charges for Demat account debit
Quick Digital Account Opening	Higher Exchange Transaction Charges
Free Mutual Fund Account	No Commodity trading option

Service Offered

• • Equities
  • Currency
  • Commodities
  • Mutual Fund Investment
  • IPO Investing

Name Of Their Trading Platform

• • Investor terminal web platform
  • Trader terminal
  • 5Paisa shares trading mobile app.

Brokerage Charges:

Segment	Charge
Delivery	₹20 per order
Intraday	₹20 per order
Futures	₹20 per order
Options	₹20 per order

Account Opening Charges – Zero

Detail Page: 5 Paisa Stock Broker

4. BlinkX by JM Financial

Meet BlinkX, the modern investment platform redefining the landscape of financial stockbroking services. Built on a foundation of customer satisfaction and cutting-edge technology, BlinkX is the latest offering from JM Financial. This innovative best trading app equips users with state-of-the-art tools and real-time data, empowering them to make smarter investment choices.

JM Financial Services, an integral part of the JM Financial Group with over 50 years of experience, specializes in Investment Advisory and Wealth Management tailored for non-institutional clients.

Pros	Cons
No Fund Transfer Charges	No Website Terminal
Call and Trade in free	No US stock investment
Dedicated Relationship Manager	No Commodity Trading
Advanced trading App	No 3 in 1 Account
Research Calls	GTC and GTD are not available in Equity segment
Margin trading facility	Desktop trading platforms are unavailable

 Service Offered

• Equities
• Derivatives
• Currency
• Mutual Fund Investment
• IPO Investing
• ETFs

Name Of Their Trading Platform

BlinkX Mobile App

Charges: 0 for delivery Order, Unlimited trading by opting for the Rs 799 plan

Account Opening Charges – Zero

Detail Page: BlinkX by JM Financial

5. Angel One

Angel One, formerly Angel Broking, is considered among the top 10 stock brokers in India. Since 1987, Angel One has more than 30 years of experience (and has built a strong reputation for its commitment to providing financial services and investment opportunities to retail and institutional clients).

Pros	Cons
Full-service at rock-bottom prices	Margin financing through surprise
Beginner training available	No trading in SMEs’ shares
Trading on margin with collateral	RM and sales team cross-sell
Stock And Mutual Fund Tips Or Research Reports	No GTC/GTT orders

Service Offered:

• • Equity
  • Derivatives
  • Commodity
  • Currency
  • Mutual Funds
  • IPO Investments
  • US stocks

Their Trading Platforms:

• • Angel iTrade
  • Angel SpeedPro
  • Angel Broking App
  • Angel BEE

Brokerage Charges:

Segment	Charge
Delivery	₹ 0
Intraday	0.03% or ₹20, whichever is less per order.
Futures	0.25% or ₹20, whichever is lower per executed order
Options	0.25% or ₹20, whichever is lower per executed order

Account Opening Charges – Zero

Detail Page: Angel One Stock Broker

6. ICICI Direct

One of the top stock brokers in India, ICICI Securities, provides a retail trading and investing platform called ICICI Direct. Since its founding in 2000, ICICI Direct has built a solid reputation for offering various financial goods and services.

Pros	Cons
3-in-1 Trading Account	Very Expensive Brokerage Fees
Immediately available funds	Minimum Brokerage Charge
Various Investment Possibilities	Fees for Trading Penny Stocks
Dual Stock Exchange Access	Extra charge for Call Trade

Service Offered:

• • Equities
  • Derivatives
  • Currency
  • Commodities
  • Mutual Fund Investment
  • IPO Investing
  • Fixed Deposits
  • Government Bonds
  • NCDs
  • ETFs
  • Loan Against Shares

Their Trading Platforms:

• • Trade Racer
  • ICICI Direct Mobile Trading App

Brokerage Charges:

Segment	Charge
Delivery	0.55%
Intraday	₹20 per order
Futures	₹50 per order
Options	₹50 per order

Account Opening Charges – Zero

Detail Page: ICICI Direct

7. HDFC Securities

HDFC Securities is one of the best trading companies in India in the Indian brokerage sector. HDFC Securities is a division of HDFC Bank. Since its establishment in 2000, HDFC Securities has grown significantly and now offers various financial services, such as stockbroking, mutual funds, and more.

Pros	Cons
3-in-1 Trading Account	High, fixed brokerage charges
Various investment options on a single platform	No commodity trading (MCX and NCDEX)
Best broker for trading in India as it allows both stock exchanges	You must have an HDFC Bank account for 3-in-1 accounts
User-Friendly And Intuitive Trading Platform	An increased minimum brokerage of ₹25 per trade is particularly burdensome for low-value transactions.

Service Offered:

• • Equity
  • Derivatives
  • Currency
  • Commodity
  • Mutual funds
  • Insurance
  • IPOs
  • Bonds
  • PMS
  • NCDs
  • ETFs
  • Loans against securities

Their Trading Platforms:

• • Blink
  • ProTerminal
  • HDFC Securities Mobile Trading App

Brokerage Charges:

Segment	Charge
Delivery	0.07%-0.32% on transaction value
Intraday	0.40%- 0.15% on transaction value
Futures	₹20 per order
Options	₹20 per order

Account Opening Charges – ₹999

Detail Page: HDFC Securities

8. Groww

Groww is known for its user-friendly layout. Groww, founded in 2016, makes a straightforward investment by making financial goods easily accessible.

Pros	Cons
Simple Pricing	Limited Investment Products
Free Account Opening	No Call and Trade Services
Zero Demat AMC Charges	No Stock Tips or Research Reports
Quick Paperless Account Opening	No Margin Trading Facility

Service Offered:

• • Equity
  • Derivatives
  • IPO
  • Fixed Deposits
  • Direct Mutual Funds
  • US Stocks

Their Trading Platforms:

• • Groww Web Trading Platform
  • Groww Mobile Trading App

Brokerage Charges:

Segment	Charge
Delivery	0.05% or ₹20, whichever is lower per executed order
Intraday	0.05% or ₹20, whichever is lower per executed order
Futures	₹20 per executed order
Options	₹20 per executed order

Account Opening Charges – Zero

Detail Page: Groww Stock Broker

9. Sharekhan

Sharekhan, founded in 2000, has a solid reputation in the Indian brokerage business. Positioned among the top stock brokers in India and provides various investment services, such as portfolio management, mutual funds, derivatives, and stocks. Because of its valuable research and counseling services reputation, Sharekhan is a go-to alternative for many investors.

Pros	Cons
User-Friendly And Intuitive Trading Platforms	No 3-in-1 Account.
Flexible Brokerage Slabs	Percentage-Based Brokerage Charges
Comprehensive Training and Education	Minimum Brokerage Charges
Free Fund Transfers and DP Transactions	Limited Trading for Classic Account Holders

Service Offered:

• • Equities
  • Derivatives
  • Currency
  • Commodities
  • Mutual Fund Investment
  • IPO Investments
  • PMS
  • Depository Services

Their Trading Platforms:

• • Trade Tiger
  • Sharekhan web
  • Sharekhan mobile app
  • ComMobile Pro
  • InstaMf App

Brokerage Charges:

Segment	Charge
Delivery	0.30%
Intraday	0.02%
Futures	0.02%
Options	₹20 per lot

Account Opening Charges – Zero

Detail Page: Sharekhan Stock Broker

10. Motilal Oswal

Motilal Oswal is a well-known full-service brokerage company founded in India in 1987. The organization, which offers various investing alternatives such as shares, commodities, mutual funds, and more, is renowned for its research-driven methodology. It has built a reputation as one of the best stock brokers in India for its wealth management and counseling services.

Pros	Cons
35+ years of experience	High brokerage charges
Free Equity Intraday Trading for Lifetime	No 3-in-1 account.
Free 1st Month FnO Brokerage up to ₹1,000	Additional hidden charges
Wide investment options	Account opening charges

Service Offered:

• • Equities
  • Commodities
  • Currency
  • Mutual Fund Investment
  • IPO Investing
  • Fixed Deposits
  • SIPs

Brokerage Charges:

• • Motilal Oswal trade
  • Desktop trading platform
  • Web trading platform
  • Mobile app

Charges For Resident Individual Accounts

Segment	Charge
Delivery	0.20%
Intraday	0.02%
Futures	0.02%
Options	₹20 per lot

Account Opening Charges: Zero

Detail Page: Motilal Oswal

Do remember that:
When it comes to choosing the best stock broker, there is no one ideal choice for every investor. It majorly depends on one’s personal needs, services, and features offered, We detail the list of registered stock brokers in India. If you don’t want to pay high brokerage fees, online discount brokers are the best option. However, if you need advice from the best stock advisor in India and you’re a high-frequency trader, it is better to consider a full-service broker.

Best Broker for Trading

If you are searching for the major stock brokers in India for your fast, affordable, and secure trading needs, here we have listed all the top brokers in India with their trading charges.

Best Stock Broker	Trading Charges
Zerodha	₹20/trade
Upstox	₹20/trade
Angel Broking	₹20/trade
Groww	0.05% or ₹20/trade
5paisa	₹20/trade
Aliceblue	₹15/trade
Paytm Money	₹10/trade
IIFL Securities	₹20/trade
Edelweiss	₹10/trade
ICICI Direct	₹20/trade

Factors to consider while choosing the best stock broker in India

To make it easy for you to choose the right stock broker, here are some of the most prominent factors that must be kept in mind while browsing through a wide range of top stock brokers in India operating in the market.

1. 1. Broker’s History

Before choosing the best broker in India, it is necessary to carry out a detailed background check on the brokerage firm. Go through client testimonials and ratings, check their history, charges and reputation. Researching every small detail will make sure that you have chosen the best stock broker.

2. 2. Commission Cost

This is another crucial factor in selecting the top brokers in India. It is necessary to note that the commission of a broker makes an impact on the return you get. It makes great sense to check out and compare the commission costs of different brokers before opening an account.

3. 3. Trading Platform

The stock broker provides a trading platform or software to enable online stock trading. It refers to the platform you are using being user-friendly, stable, and fast.

4. 4. Customer Support

A broker providing exemplary customer support service has an upper hand over the others and can be considered one of the top brokers in India. Customers typically choose brokers, who are quick to respond to their questions. 

5. 5. Trading tools and education

The best brokerage companies in India provide all the learning resources, which may be videos, articles, webinars, e-courses, and more, free of charge.

6. 6. Regulation

Proper regulation helps to ensure that the top brokers in India are well exploited in the unforeseen event of a trading loss. It is advisable that you choose the best online stock broker in India who has a clean regulatory record.

 

FAQs

1. Which is the best discount broker in India?

Ans– Zerodha, with an impressive rating of 9.6, stands as the best discount broker in India. The best part about Zerodha is its affordable brokerage charges, which don’t burn a hole in the trader’s pocket. Affordable brokerage increases the broker’s revenue and makes stock broking accessible to everyone.

2. Who is the best stock broker in India?

Ans– Angel One is ideally India’s top stock broker, with an excellent rating of 9.5 out of 10 by the users. It leaves no stone unturned in easing its customers’ trading experience and has advanced tools and widgets to assist them with trade.

3. Which stock broker has the best advisory, research, and stock tip facilities?

Ans– India Infoline, abbreviated as IIFL, is trusted by traders for dedicated advice, having a rating of 8.9. IIFL, one of the top stock brokers in India, has accurately and precisely extracted the perfect information on various stock’s performance and their prospects in marketing conditions.

4. Which stock broker has the lowest brokerage charges?

Ans– 5 paisa has the lowest brokerage charges amongst all stockbroking companies. Brokerage is essential for traders and investors, as it determines the magnitude of their profits and final income. People generally don’t want to lose their fair share of money, and 5 paisa takes care of such needs.

5. Which broker is safest in India?

Ans– Zerodha is the clear winner, with a rating of 9.4. Along with being the fastest and most secure stock broker, it also provides best-in-class features such as stock recommendations, data streaming, and watch lists, which ease the trader’s experience and simplify things for them.