Choosing the best broker for trading in India is one of the most important decisions you will make as an investor. A good broker can help you execute your trades efficiently. It helps provide you with an effective online trading platform followed by valuable research and advice.
That’s why we have compiled a list of the top 10 stock brokers in India to help you find the best one for your needs.
In this blog, you will read about:
- Groww- Ranked 1st Among Top 10 Stock Brokers in India
- Zerodha- Ranked 2nd Among Top 10 Stock Brokers in India
- Shoonya- Ranked 3rd Among Top 10 Stock Brokers in India
- Angel One- Ranked 4th Among Top 10 Stock Brokers in India
- Upstox- Ranked 5th Among Top 10 Stock Brokers in India
- ICICI Direct- Ranked 6th Among Top 10 Stock Brokers in India
- HDFC Securities Ltd- Ranked 7th Among Top 10 Stock Brokers in India
- Kotak Securities Ltd.- Ranked 8th Among Top 10 Stock Brokers in India
- Motilal Oswal Financial Services Limited- Ranked 9th Among Top 10 Stock Brokers in India
- Paytm Money Ltd.- Ranked 10th Among Top 10 Stock Brokers in India.
Contents
Groww- Ranked 1st Among Top 10 Stock Brokers in India
Groww, founded in 2016 by former Flipkart employees Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh, is a leading player in India’s online discount broking environment. It aims to make investing easy and accessible to everyone, regardless of their financial knowledge.
Fees
Groww charges a flat Rs 20 per executed trade, or 0.05%, for Equity, Intraday, and F&O trades. Additional charges include auto square-off charges of Rs 50 and other transaction, regulatory, and Demat charges. The platform does not charge for investing or redeeming mutual funds.
Zerodha- Ranked 2nd Among Top 10 Stock Brokers in India
Zerodha, established in 2010 by founders Nithin Kamath, Nikhil Kamath, and Dr. Kailash Nadh, is a pioneer in online discount broking in India. It aims to break down obstacles in the Indian broking space.
Fees
Zerodha offers zero brokerage fees for Equity Delivery and Mutual Funds, with a maximum charge of Rs 20 per trade. It also provides up to 20x leverage on intraday trading and is known for its safety and reliability.
Shoonya- Ranked 3rd Among Top 10 Stock Brokers in India
Shoonya, launched in 2013, is India’s first zero-commission trading platform. It aims to usher in a fresh era of financial accessibility and innovation in the Indian market.
Fees
Shoonya provides zero brokerage on equity intraday and delivery, futures and options, currency and commodities, mutual funds, ETFs, bonds, IPOs, and more. It offers a zero brokerage demat account, zero AMC, and cost-free brokerage across all the segments on all major exchanges, including BSE, NSE, NCX, and MCDEX.
Angel One- Ranked 4th Among Top 10 Stock Brokers in India
Angel One, formerly Angel Broking, is a prominent financial services provider in India, serving over 50 lakh customers since its establishment in 1987.
Fees
Angel One follows a transparent pricing model with brokerage charges for various segments, including equity, commodity, FnO, and currency trading. The maximum brokerage charge is Rs 20 per order, with the lowest brokerage set at 0.25% of the transaction value.
Upstox- Ranked 5th Among Top 10 Stock Brokers in India
Upstox, founded in 2011, aims to make trading in the Indian stock market easy and affordable. It operates under the regulation of SEBI and offers an exhaustive suite of products and services covering various segments.
Fees
Upstox charges Rs 20 per executed order/ 2.5% (whichever is lower) for Equity Delivery and Rs 20 per executed order/ 0.05% (whichever is lower) for Equity F&O, Currency Futures, and Commodity Futures.
Check out the best platform for intraday trading in India!
ICICI Direct- Ranked 6th Among Top 10 Stock Brokers in India
ICICI Direct, serving over 50 lakh customers, provides a range of financial services, including stockbroking, insurance, investment banking, wealth management, and various other products.
Fees
ICICI Direct offers different brokerage plans to cater to varying needs. For instance, the Neo Plan charges a flat Rs 20/ executed order for Equity Intraday and Options trading, with a 0.55% brokerage for equity delivery.
HDFC Securities Ltd- Ranked 7th Among Top 10 Stock Brokers in India
HDFC Securities, founded in 2000, is a prominent full-service stockbroker in India, operating as a subsidiary of HDFC Bank. It facilitates trading and investment in various financial instruments.
Fees
HDFC Securities implements competitive brokerage charges, offering the lowest brokerage of 0.10% per trade for Equity Delivery and Rs 20 per transaction for derivatives trading.
Kotak Securities Ltd.- Ranked 8th Among Top 10 Stock Brokers in India
Kotak Securities Ltd., established in 1994, offers a 3-in-1 account (Bank + Trading + Demat Account) to retail investors in India. It provides investment opportunities in equities, derivatives, mutual funds, and more.
Fees
Kotak Securities provides various brokerage plans, including the Trade Free Plan and Dealer Assisted Brokerage Plan, with different brokerage rates for each segment.
Motilal Oswal Financial Services Limited- Ranked 9th Among Top 10 Stock Brokers in India
Motilal Oswal Financial Services Ltd. (MOFSL), founded in 1987, offers a range of financial products and services, including trading in equities, derivatives, commodities, and currency.
Fees
Motilal Oswal charges 0.20% for Equity Delivery, 0.02% for Intraday Futures, and Rs 20 per lot for Equity and Currency Options. Commodity brokerage charges are 0.02% for Futures and Rs 200 per lot for Options.
Paytm Money Ltd.- Ranked 10th Among Top 10 Stock Brokers in India
Paytm Money Limited, founded in 2017, is a Bengaluru-based discount brokering firm offering a wide range of investment options, including Equity, Digital gold, IPOs, mutual funds, and more.
Fees
Paytm Money charges a flat Rs 20/ 0.05% (whichever is lower) per executed order for the intraday trading across all segments. It offers zero maintenance charges and a transparent fee structure.
Conclusion
Investing in the Indian stock market can be a rewarding and profitable venture. However, it also comes with its own challenges and risks. That is why you need the best broker to offer you the best services and solutions. You must thoroughly check the list of top 10 stock brokers in India and select the one that suits your trading needs.
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