Best Stock Broker in India

Recently there has been a good number of best stock broker in India. With over 300+ active stock brokers it becomes difficult to choose the best stock broker out of them. To clear the confusion for the best stock broker in India, here is the list of the companies that are running high and successful in the stockbroking market. Currently, Zerodha is on the top of the chart with the most numbers of active users onboard and is leading on the list of best stock broker in India.

What is a Stock Broker?

The stock broker is a professional trader who works on behalf of its client. They operate the trading account and deal in selling and buying of the stocks. They may also be called a registered representative or an investment advisor. Usually, the stock brokers works with the brokerage firms to generate clients.

Sometimes the Brokerage firms and broker-dealers are also referred to as stockbrokers. The brokerage firms include both full-service brokers and discount brokers, the ones who only execute the trade and do not offer investment advice to individuals. Mostly the online brokers are discount brokers.

Services provided by best Stock Broker in India?

• They give you advice on buying and selling the stocks and also take care of the securities. They can instruct the client on which share to buy or sell. They do thorough research for the same and then provide recommendations.
• They handle the associated paperwork and also the buying and selling of the stocks. They keep a record of the transaction and statements.
• Stockbrokers are responsible for maintaining clients’ investment portfolios and give regular updates about their portfolios. Hold the responsibility for answering investment-based questions.
• They hold the responsibility to inform the client about new investment opportunities in the stock market
• Also, they make strategies for the client to make changes in investment strategies that depend on the market conditions.

Types of Best Stock Broker in India

With complete knowledge of what a stock broker is and how it works and what it does, it is important to know how many types of stock brokers there are. There are usually two types of stockbrokers.

Full-service stock brokers

They provide full service to their clients. They provide the services given by the traditional stock brokers with the advisory on the share market. The sole reason for the high fees charges is due to the ample amount of services provided by them. They charge brokerage based on the total amount of the trade executed by the client. Also, full-time stockbrokers are experienced and established people who have their branches here and there. Clients can visit the branch and get help for the same.

Discount stock brokers

Another type of stock broker is the discount stock broker. They came into the play after the excessive use of the internet began. They provide you with the advantages of the best online trading platform for the clients who join in. discount brokers don’t offer advisory services and research facilities. They charge you less commission or usually a flat fee.

They provide users with a platform where they have to log in with the given credentials and start the trading. This is a faster way of getting done with the services as everything is online. Brokers can connect via with the client through chat rooms, emails and provide real-time updates.

Here are the top 5 factors to select the right brokerage firm for you

With the growing stock market, people are provided with a variety of options to choose from. However, this has made the selection to be a little tricky due to the wide variety of options available. One can choose their desired stock brokerage by considering these factors.

Trading costs: The trading cost plays a significant role in choosing the right brokerage firm for you. It directly impacts the profitability of your trades. The trading costs usually involve brokerage, transaction charges, AMC, Demat charges, taxes and more. Brokerage is an important part of the trading costs. Stock brokers generally charge brokerage in 2 ways including:

• Fixed brokerage: Several brokerage firms have a flat/fixed brokerage fee that is charged on every executed order regardless of its trade value.
• Percentage based brokerage: Many stock brokers charge only a percentage of the trade value as their brokerage fee.

When choosing the brokerage firm, one should prefer the ones charging low brokerage as it can benefit you in the long run result in a higher trading turnover. Various companies have brokerage plans with slabs where the brokerage charges get lowered and provide long-term benefits.

Apart from this, Demat charges also play a major role in defining the trading costs. Various stock brokers charge differently for AMC, transaction charges and more. Most of them offer lifetime no AMC Demat accounts which bring down the Demat account charges. So, it is advisable to choose a low brokerage stock broker to earn more profit from your trading.

Trading platforms: The online trading software provided by the stock brokers plays a major role in enhancing experience, reliability and user-friendliness. While choosing the best share brokerage company in India, always consider the firms who provide the software having advanced charting features or market scanners. A good brokerage company provides the customers with trading software on their preferred platform.

In addition to this, choose a company that offers you a good mobile trading app, which enables you to analyze trade on the move. While you are doing your research always go through the trading platform reviews of the stock broker and check if they charge a fee for the trading platform.

Margin leverage: Margin leverage is another factor in deciding the best share brokerage firm in India for you. Most of the stock traders give immense preference to the margin exposure facility as it provides the access to trade multiple times over available funds. In addition to this, several brokers also offer margin funding facilities against shares to enable you to acquire funding against securities held in your Demat account.

Research capabilities: Reaching out to an experienced stock broker or well-known brokerage firm would mean acquiring professional and dedicated research services where the research team will provide you with trading opportunities, or reading calls for assisting all your queries and providing immediate solutions. A good brokerage company would publish reports on the economy, market trends, IPOs, and more. So perform your research to identify the capabilities of stock broking firm.

Here is the list of the best stock brokers in India:

• Zerodha
• Upstox
• Angel Broking
• ICICI direct
• 5paisa
• HDFC Security
• Kotak Securities
• Sharekhan
• Groww
• Motilal Oswal

1. Zerodha – Best Stock Broker in India

Zerodha is India’s number 1 best stock broker in India. It is one of the largest and most popular brokers that are offering services online with the flat fee discount brokerage. The services that you can invest in are Equity, Currency, Commodity, IPO, and Mutual Funds.

You can read our complete guide to open demat account in zerodha

It is one of the companies that charge Rs 0 brokerage for equity delivery trades and direct mutual funds. The charges for intraday and F&O are flat at Rs 20 or 0.03% (whichever is lower) per trade. The maximum brokerage you pay for any transaction is Rs 20 for an order (of any size, amount, or segment).

They are the largest stockbroker by active clients, market volume, and new customer addition. The image of the company is strong when it comes to services that are the safest, most reliable & trustworthy brokers. Zerodha provides the most advanced online trading tools. The company offers Zero Commission Direct Mutual Funds.

The platform is great for every kind of investor including active and passive investors, beginners, active traders, and Algo traders. The company has launched its application named Zerodha Kite which is both a web and mobile trading app.

The account opening charges at Zerodha currently are Rs 200 for online account opening. Zerodha offers offline account opening too which charges around Rs 400. The Annual Maintenance Charge (AMC) is Rs 300 per year.

Segment For Trading	Brokerage Charges
Equity Delivery	Rs 0 (Free)
Equity Future	Flat Rs 20 or 0.03% (whichever is lower) per executed order
Equity Intraday	Flat Rs 20 or 0.03% (whichever is lower) per executed order
Equity Options	Flat Rs 20 per executed order
Currency Options	Flat Rs 20 or 0.03% (whichever is lower) per executed order
Currency Futures	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. Upstox – Top Stock Broker in India

Upstox is one of the first low-cost broking firms and the best stock broker in India. The company is tops the list of Best Online Share Brokers in India. They provide trading at some jaw-dropping prices. The services provided by them cover the segment like equities, commodities, currency, futures, and options. All the services are provided via two platforms Upstox Pro Web and Upstox Pro Mobile trading platforms.

You can read our complete guide to open demat account in Upstox

The company is backed by a strong group of investors like Kalaari Capital, Ratan Tata, and GVK Davix.

They also provide a platform for offering trading, analysis, charting, and many more rich trading features. It makes it easier to place orders through mobile phones and web browsers. The platform has a built-on Omnisys NEST OMS (Order Management System) and Omnisys NEST RMS (Risk Management System).

The company offers free trading accounts and free trading in the Equity Delivery segment. Also, Clients can easily trade in Equity F&O, Equity Indra-day, Commodities, and Currency Derivatives available via Upstox Pro. UpStox Pro is another paid service for traders.

Currently, the account opening charge for Upstox is Rs. 249. It comes with Rs 300 per year for Demat Account Maintenance Charges (AMC).

Segment For Trading	Brokerage Charges
Equity Delivery	Rs 0 (Free)
Equity Future	Flat Rs 20 or 0.05% (whichever is lower) per executed order
Equity Intraday	Flat Rs 20 or 0.05% (whichever is lower) per executed order
Equity Options	Flat Rs 20 per executed order
Currency Options	Flat Rs 20 per executed order
Currency Futures	Flat Rs 20 or 0.05% (whichever is lower) per executed order

3. Angel Broking

The company was started in 1987. It has over 110 branches and 11,000 sub-broker offices in 1800+ cities in India. In the year 2019, the company started its Brokegae plan to compete with a leading broker like Zerodha.

Angel Broking currently offers a flat rate brokerage plan ‘Angel iTrade PRIME’. This provides the access to trade in all segments (Intraday, F&O, Currencies & Commodities) at a fixed Rs 20 per trade except Equity Delivery, for Equity Delivery there are zero charges. Angel is titled the first large-size full-service broker. They offer discount brokerage rates to their customers. It is best for beginners so the platform is also considered the best stock broker for beginners in India.

The charges for the full-service trading account with discount broker pricing. You just have to pay Rs 0 brokerage for equity delivery and flat Rs 20 brokerage for Intraday and F&O trades. You will be getting high-quality research reports and personalized services for free.

Segment For Trading	Brokerage Charges
Equity Delivery	Rs 0 (Free)
Equity Future & Option	Flat Rs 20 or 0.25% (whichever is lower) per executed order
Equity Intraday	Flat Rs 20 or 0.25% (whichever is lower) per executed order
Currency Options Futures & Option	Flat Rs 20 or 0.025% per executed order
Commodity Future & Option	Flat Rs 20 or 0.25% (whichever is lower) per executed order

4. ICICI direct

ICICIdirect is the Largest Retail stock Broker. It is a part of the ICICI GROUP. ICICI Direct offers a platform for online trading and investment services. It is one of the best stock brokers in India with over 50 lakh customers. The services which are offered by them are equity, commodity, and currency trading at BSE, NSE, and MCX. The company also offers services in Mutual Fund & IPO, Fixed deposits, Bond, NCD, wealth products, Home Loans, Loans against Securities, etc.

You can read our complete guide to open demat account in ICICI Direct

They have the most popular 3-in-1 account services which include ICICI Bank Account, ICICI Trading Account, and ICICI Demat Account. It offers the trader a seamless service. you can read our article about 3 in 1 account in ICICI.

They have come up with multiple brokerage plans like I-Secure Plan, ICICIdirect Prime Plan, Lifetime Prepaid Brokerage Plan, and Neo Plan. ICICI Neo Plan is a flat rate brokerage plan. The company provides brokerage-free equity futures trading. Also, it charges flat Rs 20 per executed order brokerage for Equity Intra-day and Options trading and 0.55% brokerage for equity delivery. The plan offers services like access to trading tips and research, 30 minutes payout when selling shares, and margin funding at a low-interest rate.

They also offer a different and broad range of products and features like One Click Equity, Margin Trading Funding (MTF), Smart Trading features and ease of investing in equity with Systematic Equity Plan, and many more to the list.

Segment For Trading	Brokerage Charges
Equity Delivery	0.55%
Equity Intraday	0.275%
Equity Future	0.05%
Equity Options	Rs 95 per order
Currency F&O	Rs 20 per executed order
Commodity F&O	Rs 20 per executed order
NCDs / Bonds	0.75%

5. 5paisa

5paisa.com is another leading example of a Best Stock Broker in India offering discount brokerage services to retail investors in India. The company is managed and promoted by IIFL founders. Currently, they have over 1.2 million clients.

You can read our complete guide to open demat account in 5 Paisa

They provide services in equity, commodity, and currency at BSE, NSE, and MCX. It is one of the flat-rate best discount broker in India. The company is one of the leading platforms as the best stock broker for beginners in India. They charge a flat Rs 20 brokerage irrespective of the size of the trade, segment, or exchange.

The company has come up with three subscription plans Basic Pack, Power Investor Pack, and Ultra Trader Pack. Each plan provides the benefit of opening an account giving zero rupees, which means the account opening is free. The plan provides benefits like a Flat Fee reduced from Rs 20 to Rs 10.

Another service provided by them is Mutual Funds. It includes both Regular as well as direct mutual funds. It charges a flat Rs 10 per executed order for online mutual funds investment.

They give you Mobile Trading App, Trading Website, and Installable Trading Terminal as the platform to execute the trade.

Segment For Trading	Brokerage Charges
Equity Intraday	Rs 20 per trade
Equity Delivery	Rs 20 per trade
Equity Futures	Rs 20 per trade
Equity Options	Rs 20 per trade
Commodity Futures	Rs 20 per trade
Commodity Options	Rs 20 per trade
Currency Futures	Rs 20 per trade
Currency Options	Rs 20 per trade

6. HDFC Securities

HDFC Securities is one of the platforms that provide both Online and Offline trading listing in the best stock broker in India. The company also offers a 3 in 1 account. The 3 in 1 account includes your HDFC Securities trading account with your existing HDFC bank savings account and existing Demat account. They provide seamless services for moving Funds/shares are seamlessly moved from the linked Demat/Bank account to execute the transactions.

The company provides Cash-n-Carry on both NSE and BSE, Day trading on both NSE and BSE, Trade on Futures & Options on the NSE, and Online IPO Investment.

HDFC 3-in-1 Account offers a full-service 3-in-1 account, a combination of saving bank, trading, and Demat account. clients can easily trade from One account to invest in Equity, Derivatives, Mutual Funds, IPO, and Fixed Deposits. They give out a special charge of Rs 750 Demat account in which Annual Maintenance Charge (AMC) is waived when you open your 3-in-1 account. The current Account Opening charges at HDFC securities are Rs 999 (Including trading account, bank account, and DP account with HDFC).

Segment For Trading	Brokerage Charges
Monthly Fee (Fixed)	NA
Equity Delivery	0.50%
Equity Intraday	0.05%
Equity Futures	0.05%
Equity Options	Rs 100 per lot or 1% of the premium (whichever is higher)
Currency Futures	Rs 23 per contract
Currency Options	Rs 20 per contract
Commodity Futures	0.02% for Intraday / 0.025% for positional
Commodity Options	0.02% for Intraday / 0.025% for positional

7. Kotak Securities

Kotak Securities Ltd is a subsidiary of Kotak Mahindra Bank. The company was founded in 1994. They distribute financial products and offer stockbroking. In all, they have 1209 branches, franchisees, and satellite offices that offer services. Currently, they have a customer base of 11.95 Lakh.

They have corporate members with the Bombay Stock Exchange and the National Stock Exchange. also been a depository participant with National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL).

Kotak securities give a three-in-one account offer which allows the investor to open Demat, trading as well as a bank account together with Kotak Mahindra Bank Limited. The beneficiary can do this with just one application. 3 in 1 account helps the not to manually transfer money to the trading account from the bank account. The funds will be credited automatically which is easier to manage. They provide services in Equity, IPO, Mutual Fund, ETF, Tax-free bonds, Currency Derivatives, Gold ETF, etc.

You can easily open an account by filling out the form online on the Kotak website. Just enter your name, phone number, email address, and city and submit the form. The submission of the form will proceed to the call from the Kotak securities representative, or you can download the form, fill in the required details, and submit it to their registered office.

• Fixed Brokerage Plan

Segment For Trading	Brokerage Charges
Equity Cash Delivery	0.49%
Equity Cash Intraday	0.049%
Equity Futures (Both Sides)	0.049%
Equity Options	Rs 300 Per Lot

• Dynamic Brokerage Plan

Segment For Trading	Brokerage Charges
Equity Cash Delivery	0.59% to 0.30% (For trading amount of ‘< 1 lakh’ to ‘> 50 lakhs’)
Equity Cash Intraday	0.06% to 0.05% both sides (For trading amount of ‘< 25 lakhs’ to ‘> 25 lakhs’)
Equity Futures Intraday	0.07% to 0.05% both sides (trading cost of ‘< 2 crores’ to ‘> 2 crores’)
Equity Futures Settlement	0.09% to 0.073% both sides (For trading amount of ‘< 2 crores’ to ‘> 2 crores’)
Equity Options Intraday	2.5% to 1.8% on both sides (For premium of ‘< 4 lakhs’ to ‘> 11 lakhs’)
Equity Options Settlement	2.5% to 2.3% both sides (For premium of ‘< 4 lakhs’ to ‘> 11 lakhs’)
Options Minimum (Settlement)	Rs 300 to Rs 180 on both sides (For the  premium of ‘< 4 lakhs’ to ‘> 11 lakhs’)
Currency Futures	0.04% or Rs 20 per lot, whichever is higher to 0.015% or Rs 7.5 per lot, whichever is higher (For the monthly volume of ‘< 3 Cr’ to ‘> 30 Cr’)
Currency Options	Rs 20 per lot to Rs 7.5 per lot (For monthly volume of ‘< 3 Cr’ to ‘> 30 Cr’)

8. Sharekhan

It is another example of the Best Online Share Broker. The company was started in February 2000, It is India’s third-largest stockbroking service provider. They provide their services via the online trading website Sharekhan.com. In total there are 1800 offices which include branches & franchises located in over 550 cities across India. The services provided by them include all kinds of individuals from individual investors and traders, to corporate, institutional, and NRI. The company has a customer base of more than 17+ lakh customers. The segments they deal in are facilities for equity cash and derivatives segments on BSE and NSE, commodities trading facilities on MCX and NCDEX. The company also offers depository services like Demat accounts and the option to invest in mutual funds and IPOs.

The company offers a well-known terminal to trade called ‘Sharekhan TradeTiger’. It is one of the most popular trading terminals for retail investors. The application is similar to a broker terminal that allows its frequent traders to execute the trades at a good speed. The features provided by the company are live data and other tools on the same screen, this helps traders with their trades. 

Segment For Trading	Brokerage Charges
Flat Monthly Fee	NA
Intra-day	0.50%
Delivery	0.10%
Equity Futures	0.10%
Equity Options	Rs 50 per lot
Currency Future	0.10%
Currency Options	Rs 30 per lot
Commodity	0.03%

9. Groww

Groww is a Bangalore-based broker that offers online flat fee discounts on brokerage services. It helps to Invest in Equity, IPO, and Direct Mutual Funds. Also, it is the brand n,e for the company Nextbillion Technology Private Limited. It is a SEBI registered stockbroker and also a member of NSE and BSE.

The company was established in 2016. They started with the Mutual fund investment platform. But in the middle of 2020, they expanded their services and included Equity trading. They also offer services in Digital gold, US Stocks, and Fixed deposits as other investment options for its customers. The platform is easy to understand for the beginner which makes it the best stock broker for beginners in India.

They charge brokerage as low as Rs 20 or 0.05% per executed trade. This is the maximum that you will pay as the brokerage for an order irrespective of any quantity or amount. Also, the company offers Free Mutual Fund services with no charges for investing or redemption of mutual funds.

It has its platform for trading which is popularly known as Groww (web and mobile trading app). The application and web services are seamless and give a satisfactory trading experience to its investors. The application is secure as it comes up with 128-bit encryption. Groww is known for its fastest-growing rate which has a customer base of over 90+ lakh users. This is also one of the highest-rated applications with a rating of (4.5+) in the Google Play Store and App Store.

Segment For Trading	Brokerage Charges
Equity Delivery	Rs 20 per executed order or 0.05% whichever is lower
Equity Intraday	Rs 20 per executed order or 0.05% whichever is lower

10. Motilal Oswal

The company was started in the year 1981, called Motilal Oswal Securities Ltd. (MOSL). It is a Mumbai, India-based financial service firm. The company offers services in Equity, Commodity, Currency, and Derivatives. They also deal in other financial products like Mutual Funds, IPOs, Gold, Insurance, and Fixed Income products.

Motilal Oswal Securities Ltd. (MOSL) is also recognized for its MOAMC discretionary Portfolio Management Service (PMS). The PMS holds a strong track record for its consistent performance and the benchmark they have set across the market since the beginning of 2003 and has been listed as the top share broker in India.

Currently, the company Motilal Oswal has over 500+ cities and towns comprising 2,200+ Business Locations that are operated by the company and its Business Partners. With over 10,00,000 registered customers they have around Rs 69,500 Crores in depository assets.

You can read our complete guide to open demat account in Motilal Oswal

Research is the solid base for the foundation of Motilal Oswal Securities. They invest almost 10% of their revenue in equity research. They have a proper dedicated team of large-cap, mid-cap and technical research. Till now they have published over 30,000 research reports on over 260 companies spread across 21 sectors.

The reports have received quite wide coverage in the media from a fundamental, technical, and derivatives research perspective. They were also awarded India’s Best Market Analyst Award for the IT & FMCG sector by Zee Business.

1. Default Brokerage Plan

Segment For Trading	Brokerage Charges
Equity Delivery	0.50%
Intraday Cash or Future – Equity and Commodity	0.05% (both side)
Options – Equity	Rs 100 per lot (both side)
Currency F&O	Rs 20 per lot (both side)

2. Value Pack Plan

Segment For Trading	Brokerage Charges
Equity Delivery	from 0.10% to 0.40%
Intraday Cash or Future – Equity and Commodity	from 0.01% to 0.04% (both side)
Options – Equity	from Rs 20 to Rs 50 per lot (both side)
Currency F&O	from Rs 10 to Rs 22 per lot (both side)