15 Biggest Stockbrokers in India With Highest Active Clients

15 Biggest Stockbrokers in India With Highest Active Clients

List of Biggest Stockbrokers in India (Updated: 30th April 2020) In this article, we are going to look at the 15 Biggest Stockbrokers in India based on their total number of unique active clients.

There are over three hundred stockbrokers in India registered with SEBI and different stock exchanges. Even on National Stock Exchange (NSE), there are 120 registered stockbrokers in India as of 30th April 2020. When you are looking for the best stock broker to open your demat and trading account, one of the most straightforward factors to look into is its total number of active clients. Although a large client base doesn’t guarantee a better service, however, being a big firm, it reduces the possibility of the brokerage firm disappearing or running out of the service soon enough. 

These days, one and all stockbrokers will argue that they are trustworthy as they are registered with SEBI. However, just because they are registered with SEBI doesn’t make them reliable for the long term. Time and again, a lot of such small brokers are either expelled out of the exchange or simply go out of the business and files bankrupt. And this leads to a lot of trouble for their current clients.

Therefore, a safer option for the customers to avoid any such kind of inconvenience is by opening their trading account with the biggest stockbrokers in the Industry.

15 Biggest Stockbrokers in India with Highest Active Clients

Several websites rank stockbrokers in India based on different factors like their brand value, trading platforms, customer services, facilities offered, complaint ratio, etc. However, in this article, we are not going to look into these factors. 

Here, we are going to look at just one factor, i.e. the total number of unique active clients for that stockbroker. In this post, the stockbroker with the highest number of clients is ranked first, followed by the subsequent stockbrokers with top active clients. 

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For this approach, we are going to use the data available on the NSE India website. The national stock exchange website provides the details of the monthly total number of unique clients of the different stockbrokers registered with it. Here’s a quick link to the page. You can also download the spreadsheet available on this page to analyze the stockbrokers further. 

Here are the 15 Biggest Stockbrokers in India based on the total number of unique active clients:

S NoName of Stockbroker# of Active Clients% Share
1ZERODHA BROKING LIMITED159894814.28%
2ICICI SECURITIES LIMITED10819609.66%
3HDFC SECURITIES LTD.7261976.48%
4RKSV SECURITIES INDIA PRIVATE LIMITED (Upstox)6755516.03%
5ANGEL BROKING LIMITED6292605.62%
6KOTAK SECURITIES LTD.5834825.21%
7SHAREKHAN LTD.5479504.89%
85PAISA CAPITAL LIMITED4896614.37%
9MOTILAL OSWAL FINANCIAL SERVICES LIMITED3855353.44%
10AXIS SECURITIES LIMITED2719902.43%
11SBICAP SECURITIES LIMITED2619512.34%
12KARVY STOCK BROKING LTD.2318182.07%
13IIFL SECURITIES LIMITED2244502.00%
14GEOJIT FINANCIAL SERVICES LIMITED1650291.47%
15EDELWEISS BROKING LIMITED1309261.17%

Please note that the total number of active clients of all stockbrokers is 1,11,98,563 as of April 2020, mentioned on the NSE India website.

From the above table, you can quickly notice that Zerodha is the biggest stockbroker with the highest numbers of unique clients registered on the National stock exchange in India. 

As of April 2020, Zerodha constitutes around 14.28% of the total market share of the active clients registered on the National Stock Exchange. It has over 15.9 lakh active customers compared to a total of over 1.11 Crore active clients of all stockbrokers on the NSE.

What makes this list even more interesting is that Zerodha was just founded in 2010 and still has been able to outrank all the old and well-matured traditional brokers. It is the only broker with a discount brokerage business model in the top ten list. Anyways, Angel broking has also started a similar discount brokerage model recently, along with its full-service model. 

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Also read: Zerodha Review –Discount Broker in India | Brokerage, Trading Platform & More

According to the above table, Zerodha is closely followed by ICICI securities, which ranks second and has over 10.81 lakhs unique clients. 

The other most prominent stockbrokers in this list are HDFC Securities (7.26 Lakh clients), Upstox (6.75 Lakh Clients), Angel Broking (6.29 lakh clients), Kotak Securities (5.83 lakh clients), Sharekhan (5.47 lakh clients), 5Paisa (4.89 lakh clients), Motilal Oswal Group (3.85 lakh clients) and Axis Securities (2.71 lakh clients). Together these 15 biggest stockbrokers constitute over 71.48% of the total share of the unique clients registered on NSE.

Also read: Compare Online broker in India – Stockbrokers list

Bonus: Additional Top Stockbrokers

Here is a list of the ‘Next’ 15 biggest stockbrokers in India with the highest active clients registered on the National stock exchange as of 30th April 2020.

Angel broking free demat account
S NoName of Stockbroker# of Active Clients% Share
16RELIANCE SECURITIES LIMITED1200691.07%
17SMC GLOBAL SECURITIES LTD.1139801.02%
18RELIGARE BROKING LIMITED1125271.00%
19NIRMAL BANG SECURITIES PVT. LTD.949020.85%
20MARWADI SHARES AND FINANCE LIMITED832380.74%
21VENTURA SECURITIES LTD.765260.68%
22ANAND RATHI SHARE AND STOCK BROKERS LIMITED730470.65%
23TRADEBULLS SECURITIES (P) LTD.630300.56%
24SAMCO SECURITIES LIMITED548600.49%
25IDBI CAPITAL MARKETS & SECURITIES LTD.520560.46%
26MONARCH NETWORTH CAPITAL LIMITED499550.45%
27INDIABULLS SECURITIES LIMITED446780.40%
28ADITYA BIRLA MONEY LIMITED445330.40%
29ALICE BLUE FIN SVCS P LTD432350.39%
30MASTER CAPITAL SERVICES LIMITED396170.35%

That’s all for this article. Please comment below which brokerage firm you’re using for trading in the Indian stock market and your review for the same. Happy trading!

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