List of Top Stockbrokers in India 2021: If you are looking to open your Demat and trading account, and still confused about which stockbroker to choose, we are here to help you through this post. We are going to discuss the 10 top stockbrokers in India (2021) to open your Demat and trading account.
This list of top stockbrokers in India will provide you with a brief overview of the leading full-service and discount stockbrokers in India. All these stockbrokers offer the best Demat account and trading account services. Let’s get started.
10 Top Stockbrokers in India 2021
Zerodha is the biggest and the top stockbroker in Indian with over 4 million clients that make up the +15% of daily retail trading volumes on Indian stock exchanges.
Started in 2010, Zerodha popularized the concept of the discount brokerage in the Indian equity market with a no brokerage model for investors and a flat Rs 20 per trade brokerage charges for the intraday and other trades.
Competing with big players like HDFC and ICICI is indeed a difficult task but Zerodha has managed to remain the Number One discount broker of the country. There are other competitors too in discount broking, however Zerodha, being the largest discount broking firm in India, enjoys a massive customer base in India.
Here are a few key points and features to know about Zerodha stock broker:
- Long term investment/Delivery Brokerage Charges: Rs 0
- Mutual fund investments: ZERO Brokerage
- Intraday Charges: 0.01% or Rs 20 per executed trade (whichever is less)
- Account opening charge: Rs 200 (Additional Rs 100 for Commodity Account)
- Annual Maintenance Charge: Rs 300
- Services: Equity, Derivatives, Currency, Mutual Funds & Commodities
Zerodha Trading Platform: Zerodha offers a universe of trading platforms and products to help their clients from education to trading tools. Their trading platform consists of Kite 3.0 trading platform, Kite Mobile, Console, Pi, Sentinel, Coin.
Upstox is a fast-growing discount broker, backed by a group of leading investors including Kalaari Capital, Ratan Tata, GVK Davix, etc. It is also known as RKSV. Upstox started as RKSV in 2012 and rebranded to Upstox in 2015. As of Jan 2021, Upstox has the second-highest number of active clients on NSE after Zerodha.
Services offered: Upstox offers trading services in equity, currency, and commodity
Upstox Brokerage charges
While trading with Upstox, equity delivery trades are free of cost. For intraday trading on BSE, NSE and MCX, and F&O it is 0.05% or up to Rs. 20 per order traded. Irrespective of the order size, the brokerage cost is only Rs. 20 per order traded.
- Delivery Charges: Rs 0
- Intraday Trading: Rs 20 per executed trade or 0.05% whichever lower
- Futures Trading Charges: Rs 20 or 0.05% (whichever is lower) per order
- Options Trading Charges: Rs 20 per trade
Upstox Demat And Trading account opening Charges:
- Account opening charges: Rs 300 (Currently Waived)
- Annual Maintenance charges: Rs 150
Trading Platform: Upstox Pro Web Trading Platform, Bridge for AmiBroker, Developer Console, Option Chain Tool, Upstox MF Platform.
Incorporated in 1987, Angel broking is a big brand having +30 Years of experience in the broking world and +1 million happy customers. They have a presence in over 1800+ cities in India. Angel Broking offers the trading facility in Equity, F&O, Commodities, and currency across BSE, NSE, NCDEX & MCX.
Angel Broking now offers a flat rate brokerage plan, named ‘Angel iTrade PRIME’. Here, the delivery trading is FREE of cost. And for all other segments i.e. Intraday, F&O, Currencies & Commodities, they charge a fixed rate of ₹20 per. The same simple rate is applicable across exchanges and segments.
One of the key advantages of trading with Angel Broking is that they provide guidance/recommendations for investing in the stock market along with research reports on companies and many other value-adding tools and services.
Services Offered: Angel Broking offers its services in Equity, Commodity, Currency, PMS, Life Insurance, ETFs, IPOs & Mutual Funds.
Angel Broking Brokerage Charge:
- Delivery charges: Rs 0
- Intraday Trading: Flat ₹20 Per Trade
- Equity F&O: Flat ₹20 Per Trade
- Currency F&O: Flat ₹20 Per Trade
- Commodity F&O: Flat ₹20 Per Trade
Account Opening Charges with Angel Broking:
- Account opening charge: Rs 0 (Currently Waived)
- Annual Maintenance Charge: Rs 450 (Second year onwards)
Trading Platform: Angel iTrade, Angel Broking Mobile App, Angel BEE
4. ICICI Direct
The ICICI Direct which is a part of ICICI Securities ranks number one in the full-service stockbrokers’ list. It is armed by the leading private financial services provider ICICI Group which is in existence since 1994. The high-quality and customized services along with the 3-in-1 account facility are what the company counts on to be able to capture such a vast number of active clients.
ICICI Direct has been number one in terms of active customers until 2019 when the top discount broking firm Zerodha toppled them with a client base of more than 2 million. However, ICICI Direct is the most visited trading platform in India.
The reason why a lot of investors and traders would want to trade through this company is that they not only provide the general stockbroking products and services but also a huge range of insurance products, financial distribution products, investment banking, institutional trading, wealth management services, Home Loans, Bonds, Fixed Deposits, IPO services, NCDs and loan against shares.
Here are a few key points and features to know about ICICI Direct:
ICICI Direct offers different types of brokerage plans like I-Secure, I-Saver & Prepaid to choose from. However, recently they also entered the discount brokerage model with ICICI Direct Prime brokerage plan. Here are the details:
- Delivery Brokerage charges: 0.15% – 0.25%
- Intraday Brokerage Charges: Rs 15 per trade
- Futures/Options/Currency/Commodity Charges: Rs 20 per trade
- Margin Funding: 8.9% pa
- Services: Equities, Derivatives, Currency, Mutual Fund, IPOs, FD, Bonds, NCDs, ETFs
Trading Platform and other Key points
ICICI Direct offers a high-speed and technology-driven web-based trading platform, which was one of the first best online trading platforms that started online trading in India in 2000. They have charting, analytics, and fundamental statistics reports feature enabled on this platform for any investor or trader to understand the performance of their portfolios. Other key trading platforms by ICICI Direct are Trade Racer and its mobile trading app.
HDFC Securities Limited is a subsidiary of the largest private sector bank HDFC with a huge online and offline presence and has been in existence for the last two decades. The company is named as one of the topmost full-service stockbrokers of India and has its headquarter in Mumbai with more than 270 offices and branches across the country.
Known for its comprehensive services to a variety of clients and professional traders with online as well as offline trading services, HDFC Securities Limited offers a wide range of stockbroking services along with the distribution of financial products. The customers of this broking house can trade through stocks, mutual funds, commodities, fds, bonds etc, and have the benefit of trading and investing with an award-winning broking house.
Here are a few key points and features to know about HDFC Securities:
- Delivery charges: 0.07%-0.32% on transaction value
- Intraday Charges: 0.40%- 0.15% on transaction value
- Account opening charge: Rs 999
- Annual Maintenance Charge: Rs 750 (Second year onwards)
- Services: Equities, Derivatives, Currency, Mutual Fund, IPOs, ETFs, Bonds, FDs, Insurance
(Source: HDFC Securites)
Trading Platform: HDFC Securities offers web trading platforms, Blink, ProTerminal, and Mobile App to their clients to trade and invest in stocks.
5Paisa is a part of IIFL (India Infoline) and offers the cheapest stock brokerage in India. IIFL launched 5Paisa to offer a lower brokerage platform for its clients and to compete with the fast-growing discount broking industry.
Services offered: Apart from trading in equity, currency, commodity, 5Paisa also offers its services in mutual funds, Insurances, Personal loans.
5Paisa Brokerage charges
5Paisa offers free trading in equity and flat brokerage in other segments. Here are the brokerage charges offered by 5Paisa:
- Delivery Trading: Rs 20 per trade
- Intraday Trading: Rs 20 per trade
- Equity Futures: Rs 20 per trade
- Equity Options: Rs 20 per trade
- Currency Futures: Rs 20 per trade
- Currency Options: Rs 20 per trade
5Paisa Demat And Trading account opening Charges:
- Account opening charges: FREE (Rs 650 Waived)
- Annual Maintenance charges: Rs 45 per month (only for months when you trade)
Trading Platform: Investor terminal web platform, trader terminal, 5Paisa share trading mobile app
Founded in 1994, Kotak Securities Ltd is a subsidiary of Kotak Mahindra Bank with a presence in 360+ cities. Ranked among the top five full-service brokers and one of the very few stockbrokers who provide a 3-in-1 account facility, Kotak Securities Limited is acclaimed to be unconventional when it comes to delivering unique services to their clients.
As a part of the well known financial service provider The Kotak Mahindra Group, Kotak Securities along with its group offer various multi-asset class investment and trading product and services, distribution services, insurance products, investment banking and a lot more to their wide range of clients spread across India as well as the globe.
The company has been the first broker all over the country to introduce Margin Finance for online trading, IPO and Mutual Fund Investments over the phone, SMS alerts right before the execution of the depository transaction, Autoinvest and Margin against securities using shares in the Demat account. This is the reason why it is renowned for its innovations and using advanced technologies to make investment and trading experience smoother for their clients.
Recently Kotak securities launched Trade FREE plan with a discount broking model. Here are the details:
- Delivery charges: Rs 0
- Intraday Charges: Rs 0
- Futures Charges: Rs 20 per trade
- Options Charges: Rs 20 per trade
- MIS & Super Multiple (Cover Order): Rs.20 per order
Services: Equity, Derivatives, Mutual Funds, IPOs, ETFs, Currency, bonds, ETFs
Trading Platform: XTRALITE (web), KEAT PRO X (terminal application), Fastlane, Stock Trader (mobile app)
With over 2 million customer base, Sharekhan has been one of the top three stock brokers in India. The journey of Sharekhan from being part of the SSKI Group to a BNP Paribas subsidiary had been enticing for not only the investors but also the traders. It is the first stockbroker in India to introduce an online trading website sharekhan.com.
The finest investment platform provides a wide range of products and services namely stock quotes, news alerts on the share market, fundamental and analytical research reports on equity, mutual fund investments, IPOs and so on. The customer-centric account types enable investors and traders to select the best plan for their needs.
- Intraday Brokerage Charges: 0.1% on the buy-side and 0.1% on the sell-side
- Delivery Brokerage Charges: 0.5% on the buy-side and 0.5% on the sell-side
- Futures Brokerage Charges: 0.10% on the first leg, 0.02% on the second leg if it is squared on the same day
- Options Brokerage Charges: Rs 50 per lot or 2.5% on the premium
- Account opening charge: Classic Account: 750, Trade Tiger Account: 1000
- Annual Maintenance Charge: Rs 400 (Second year onward)
Services: Equities, Derivatives, Currency, Mutual Fund, Commodities, PMS, IPOs
Trading Platform: Trade Tiger, Sharekhan web, Sharekhan mobile app, ComMobile Pro, InstaMf App
Groww is one of the fastest-growing investment platforms in India and has become one of the top stockbrokers in India. Groww is the brand name for Nextbillion Technology Private Limited – a SEBI registered stockbroker and a member of NSE and BSE.
Initially, Groww a Bangalore-based startup was set up in 2016 as a platform to directly invest in mutual funds. Keeping up with the increase in demand for equity trading in the midst of the pandemic the company also offered equity trading.
The vision behind the Groww App was to set up was to create a powerful yet simplest to use App for trading from anywhere. With this, the app came up with the philosophy of making “Investing should be as simple as online shopping”. Today the company offers Mutual Funds, Demat Services, Trading Services, Intraday Services, IPO Services, and Trading Exposure.
The following points sheds light on the rates applicable:
- Account Opening Charges: Rs 0
- Annual Maintenance Charges: Rs 0
- Brokerage Charges: Rs 20 or 0.05% per executed trade (Whichever is lower)
10. Motilal Oswal
With over 20+ years of experience in trading and investment, spread over 500+ cities and comprising 2,200+ Business Locations, it is one of the most reputable and top stockbrokers in India.
They just not stuck into the broking business but also entered many new avenues eventually such as private equity, investment banking, mutual funds, portfolio management service, wealth management and all of that a typical financial service company would provide.
Motilal Oswal Securities Limited is a subsidiary firm of Motilal Oswal Financial Service Limited. Today, this diversified financial service firm holds diversity in the clients too as they have retail customers, foreign institutional investors, High Net Worth Individuals, financial institutions and small and large corporates.
- Delivery charges: 0.50% on transaction value
- Intraday Charges: 0.05% on on transaction value (Both side)
- Account opening charge: Rs 0
- Annual Maintenance Charge: Rs 400 (From 2nd Year onlwards)
Services: Equity, Derivatives, Commodities, Currency, IPOs, Mutual Funds
Trading Platform: Motilal Oswal Trade, Desktop trading platform, web trading platform, Mobile App
That’s all for this post on the list of top stockbrokers in India 2021. Comment below your favourite stockbroker. Happy Investing and Trading!