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: Mar 2021) 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 299 registered stockbrokers in India (including defaulters or expelled) as of 28th Feb, 2021. 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 for bankruptcy. 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. 

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 ClientsMarket Share (%)
1ZERODHA BROKING LIMITED339105918.85%
2RKSV SECURITIES INDIA PRIVATE LIMITED (Upstox)196086110.90%
3ANGEL BROKING LIMITED14541678.08%
4ICICI SECURITIES LIMITED14353567.98%
5HDFC SECURITIES LTD.9440915.25%
65PAISA CAPITAL LIMITED8458794.70%
7KOTAK SECURITIES LTD.7176583.99%
8SHAREKHAN LTD.6766313.76%
9NEXTBILLION TECHNOLOGY PRIVATE LIMITED (Groww)6565193.65%
10MOTILAL OSWAL FINANCIAL SERVICES LIMITED5433113.02%
11AXIS SECURITIES LIMITED4392732.44%
12SBICAP SECURITIES LIMITED3223531.79%
13IIFL SECURITIES LIMITED2875031.60%
14GEOJIT FINANCIAL SERVICES LIMITED1970011.10%
15EDELWEISS BROKING LIMITED1571980.87%

Please note that the total number of active clients of all stockbrokers is 1,79,87,749 (1.79 Cr) as of Feb 2021, 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 28th Feb 2021, Zerodha constitutes around 18.85% of the total market share of the active clients registered on the National Stock Exchange. It has over 33.9 lakh active customers compared to a total of over 1.79 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. Anyways, other discount brokers like RKSV Securities (Upstox), Angel Broking, 5Paisa, and Groww (NextBillion Technologies) have also made into the top ten stockbrokers in India as per the number of active clients.  

Quick Note
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According to the above table, Zerodha is followed by Upstox, which ranks second and has over 19.6 lakhs unique clients. 

The other most prominent stockbrokers in this list are Angel Broking (14.5 lakh clients), ICICI Securities (14.35 lakh clients) HDFC Securities (9.44 Lakh clients), 5Paisa (8.45 lakh clients), Kotak Securities (7.17 lakh clients), Sharekhan (6.76 lakh clients), Groww (6.56 lakh clients) and Motilal Oswal Group (5.43 lakh clients). Together these 15 biggest stockbrokers constitute over 70.19% 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 28th Feb, 2021.

https://tradebrains.in/wp-content/uploads/2020/11/trade-brains-portal-side-banner.png
S.NoName of Stockbroker# of Active ClientsMarket Share (%)
16SMC GLOBAL SECURITIES LTD.1357150.75%
17RELIGARE BROKING LIMITED1298550.72%
18NIRMAL BANG SECURITIES PVT. LTD.1237680.69%
19ALICE BLUE FIN SVCS P LTD1191060.66%
20RELIANCE SECURITIES LIMITED1177990.65%
21MARWADI SHARES AND FINANCE LIMITED1090490.61%
22VENTURA SECURITIES LTD.950700.53%
23ANAND RATHI SHARE AND STOCK BROKERS LIMITED847950.47%
24SAMCO SECURITIES LIMITED764360.42%
25JAINAM SHARE CONSULTANTS PRIVATE LIMITED743480.41%
26ASTHA CREDIT & SECURITIES (P) LTD699930.39%
27PAYTM MONEY LTD.698790.39%
28TRADEBULLS SECURITIES (P) LTD.668660.37%
29CHOICE EQUITY BROKING PRIVATE LIMITED606710.34%
30ADITYA BIRLA MONEY LIMITED550420.31%

That’s all for this article. I hope this list of 15 Biggest Stockbrokers in India with highest Active Clients was helpful to you. Further, please comment below which brokerage firm you’re using for trading in the Indian stock market and your review for the same. Happy investing!

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Comments
  • great information to impressed, thanks for sharing with us

  • Kunjal says:

    Can you please share the NSE handbook from which you arrived at the total active accounts ?

  • Thanks for this useful information

  • Nice information sir, much appreciated

  • sunita kumari says:

    which trading website/app with lowest brokerage.

  • Customer says:

    On the site of Motilal Oswal Financial Services, it was written free joining fee and free lifetime AMC for that day. I registered my account, filled all details and uploaded my documents. The next day I received a call from an executive of Motilal Oswal Financial Services that my account is still not activated and he needs OTP sent on my mobile number to activate my account. I confirmed again if Lifetime AMC is free and he said Yes. I gave him the OTPs he needed afterwards. But after my account got activated, the executive asked me what i was asking about AMC. I told him again if AMC is free. At that time he started saying that i have to buy value added pack and then brokerage will be lowered and that AMC is free for only first year. I told him i do not want the account and I am not willing to pay AMC as i am already trading on other website. He said he would call me later but did not call me afterwards. I received an email that my account had been processed and activated. This is really not something you can expect from such reputed company. They told me lies to get my to open an account and later refused to keep up their promise. I want my promise to be fulfilled or my account to be closed.
    Account id – EMUM058222

  • getdemat says:

    What about 5paisa how is it?

  • Ravi Gadgil says:

    Is profitmart securities a registered broker ? What do the reports say about it ?

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