Top 10 Stock Brokers in India
There was a time when investing in the stock market was considered gambling in India. But as time passed, SEBI and the Government of India, with the help of regular educational advertisements, changed people’s mindset and made them realize that investing in the stock market is safe and secure and can give higher returns to the investors. Now people see the share market as the simplest and fastest way to invest their money. After the pandemic, India sought a Spike in the number of new investors in the stock market. More and more people are drawn towards the lucrative returns offered by the stock market investments. Another reason for the popularity of the stock market is the number of stockbrokers and their large-scale advertisements, which left the common people curious to learn more about the markets.
Who is a Stockbroker?
A stockbroker is a firm or legal entity that acts as a middleman between the investor and the stock market. If a person wants to invest a sum of money in the market, he has to open a Demat account with the stockbroker. There are several stockbrokers available in the Indian stock market. Let us have a look at the Top 10 Stockbrokers in India.
1. Zerodha
Zerodha is the top discount broker in the country. It is the favorite stockbroker of most of the people in the country. Zerodha has more than 5.4 million active clients, and it covers 18.33% of the market share. Zerodha was founded in 2010 by 2 brothers, Nitin Kamath and Nikhil Kamath. Zerodha offers various facilities to its clients. The official app of Zerodha is named kite and is available at the play store and Apple App store; it provides a clean and simple interface to its users. Zerodha also offers a web interface to the user to execute orders. Because of this, it becomes very easy for a person to trade with Zerodha. Zerodha charges only Rs.20 per trade for Intraday transactions and doesn't charge for delivery transactions in the stock market. Zerodha charges Rs.200 as account opening fees.
2. Upstox
Upstox is 2nd on the list of top stock brokers in India. It captures around 14.24% of the market share and has around 4.2 million active clients. Upstox is a discount broker. It offers multiple services like stock trading at NSE, BSE, Future & Options trading, and investment options like mutual funds and IPOs. Upstox was established in 2009 by RKSV Securities India Private Ltd. Upstox charges Rs.0 on mutual funds and IPO and Rs.20 or 0.05%, whichever is lower on all the Intraday and delivery trades. Upstox official app is available on the Play Store and Apple App Store with the same name. It also has an online interface. User can easily place their orders by any medium. Upstox charges Rs.300 as account opening fees.
3. Angel One
Angel One is in the 3rd position in the list of top stockbrokers in India. Its former name was Angel broking. Currently, Angel one captures 9.56% of the market share and has around 2.9 million active users. The various services offered by Angel One include trading at NSE, BSE, and MCX. It also provides additional services like investment advisory, loans against shares, and education to the investors. Angel broking was founded in the year 1996. Angel One is one of the biggest full-service retail brokers. Angel broking charges Rs.0 for equity delivery trades and Rs.20 or 0.25%, whichever is lower for intraday, future, options, and other trades. It doesn’t charge any fees for account opening.
4. Groww
Groww is at 4th position in the list of Top Stockbrokers in India. It has captured 8.93% of the market and has around 2.67 million active users. Grow was established in 2016, and he is one of the fastest-growing stockbrokers in the country. Initially, Groww was a platform that offered only investment facilities like mutual funds and SIPs. But now, it offers more features like trading in the equity market and futures and options market. The best service provided by Groww is that it also gives us the facility to invest in The US stock market. It charges 20 rupees or 0.05%, whichever is lower for equity traders, and flat 20 rupees for futures and options trades. Groww offers free account opening on its platform.
5. ICICI Securities
ICICI Securities is in 5th position in the list of top stock brokers in India. It is a full-service stockbroker. ICICI Securities has captured 8.7% of the market and has around 2.6 million active clients. It is backed by the ICICI Group, a significant private financial services firm that has been around since 1994. It offers high-quality services and the 3-in-1 account feature to attract such a large number of active clients. ICICI Securities provides a wide range of facilities to its clients like private wealth management, insurance services, mutual funds, gold bonds, portfolio management, corporate finance, etc.
6. 5paisa
5Paisa is in 6th position in the list of top stock brokers in India. It has captured 4.46% of the market share and has over 1.3 million active clients. The broking company is regarded as one of the fastest expanding businesses and has one of the lowest brokerage rates. 5Paisa was established in 2006 and became the first fintech public company to list on the BSE and NSE. 5paisa made a million clients in the shortest time, in only 4.5 years. The 5paisa app is amazing in terms of features and user interface, and the firm provides in-depth analysis and advice on shares, making it a one-of-a-kind solution.
7. Kotak Securities Limited
Kotak Securities is in 7th position in the list of top stockbrokers in India. It captures 3.56% of the market and has around 1 million clients. Kotak Securities is a subsidiary of the legendary Kotak Bank. It is a full-service broker which provides various services like well-researched calls and monthly stock picks. Kotak securities offer three different types of accounts: trade-free plan, trade-free Max, and dealer-assisted plan. The trade charges of Kotak securities are different for different types of plans. Kotak security provides a clean and simple interface for trading and customer support.
8. HDFC Securities
HDFC Securities is in 8th position in the list of top stock brokers in India. HDFC Securities Limited is an extended arm of HDFC, India's largest private sector bank, with a strong online and offline presence. The firm is regarded as one of India's leading full-service stockbrokers, with over 270 offices across the country.
HDFC Securities Limited provides a wide range of trading services like intraday trading investment in the stock market. It provides a wide range of stockbroking services and financial product distribution. HDFC security clients can trade stocks, mutual funds, commodities, bonds, and other securities.
9. Motilal Oswal
Motilal Oswal is in 9th position in the list of top stock brokers in India. It is one of India's prominent stockbrokers, with over 20 years of expertise in trading and investment. Mr. Motilal Oswal and Mr. Ramdeo Agrawal are two significant figures in the Indian stock market that aim to provide high-quality research-based stock recommendations to their clients, which helped them become one of the largest stock-broker. They didn't simply stay in the broking sector; they gradually expanded into private equity, investment banking, mutual funds, portfolio management, wealth management, and everything else a conventional financial services firm would provide.
10. Sharekhan
Sharekhan is in 10th position in the list of top stockbrokers in India. It captures 2.54% of the market share and has around 7.5 lakhs, active clients. Sharekhan was established in 2000. The BNP Paribas group now manages it. It is a full-service brokerage firm and offers various facilities like trading equity, futures & options, and currency segment. Sharekhan also provides research-based tips and financial advisory for its clients. It also provides trading education to investors to better understand the market.