STOCKBROKER LIST

COMPARE BEST STOCK BRokers in India

Top Stock Brokers List in India to open your Demat and Trading account – Lowest Brokerage Charges, Excellent Trading Platform – Compare and find best stock brokers in India in 2021!

Biggest Stockbrokers in India based on Market share
Zerodha
Angel Broking
Upstox
5Paisa
Kotak Securities
Groww
Paytm Money
ICICI Direct
HDFC Securities
SBI Securities
Motilal Oswal
Sharekhan
IIFL Securities
Trade Smart
Fyers
Samco
Wisdom Capital
Tradejini

Save upto 90% Brokerage

RECOMMENDED Brokers

zerodha logo

Zerodha - No 1 Stock Broker

– +5 Million Clients
– Zero Brokerage on Equity Investments (Delivery) & Mutual Fund
– Rs 20 Per Order on all other Trades

Angel broking logo

Angel Broking - FREE Demat

– Zero Brokerage on Delivery Trades
– Rs 20 Per Order on Intraday and F&O Trade
– FREE Demat Account Opening!

upstox logo

Upstox (Discount Broker)

– Zero Brokerage on Delivery Trades
– Rs 20 Per Order on all Trades
– FREE Mutual Funds investments and Digital Gold

Discount Brokers

Discount brokers provide fast trading facility for their clients at lowest brokerage costs. They mostly do not offer advisory, stock recommendations and suits for a ‘do-it-yourself’ type of clients. They offer low brokerage, high speed and excellent platform for trading in stocks, commodities and currency derivatives. Many traditional brokers are also entering the discount brokerage route these days and have started offering flat brokerage charges. 

\

Fast Trading Platform

\

FREE Investments Facility

\

Technology First Platforms

\

Lowest Brokerage Charges

\

Unbiased services

\

Minimal or No Personal Consultation/Advisory

zerodha logo

Zerodha

Services: Equity, Futures, Options, Commodity, Currency

Delivery Charges: ZERO
Intraday Charges: ₹ 20
Opening Charges: ₹ 300
AMC: ₹ 300

Angel Broking Logo

Angel Broking

Services: Equity, Futures, Options, Commodity, Currency

Delivery Charges: ZERO
Intraday Charges: ₹ 20
Opening Charges: FREE
AMC: ₹ 240

Upstox logo

Upstox

Services: Equity, Futures, Options, Commodity, Currency

Delivery Charges: ZERO
Intraday Charges: ₹ 20
Opening Charges: ₹ 299
AMC: ₹ 300

5paisa logo broker

5Paisa

Services: Equity, Futures, Options, Commodity, Currency

Delivery Charges: ₹ 10
Intraday Charges: ₹ 20
Opening Charges: FREE
AMC: ₹ 540

kotak securities logo broker

Kotak Securties (Trade FREE Plan)

Services: Equity, Futures, Options, Commodity, Currency

Delivery Charges: 0.25%
Intraday Charges: FREE
Opening Charges: FREE
AMC: ₹ 600

groww broker logo

Groww

Services: Equity, Futures, Options

Delivery Charges: ₹ 20
Intraday Charges: ₹ 20
Opening Charges: FREE
AMC: FREE

Full-sErvice BROKERS

These are traditional brokers who provide trading, research, and advisory facility for stocks, commodities, and currency. These brokers charge higher commissions on every trade their clients execute, and mostly as a percentage of each trade executed. They may also facilitate full-service investing facilities in Forex, Mutual Funds, FDs, Bonds, and Insurance and more.

\

Full Customer Services to Clients

\

personal consultation & Guidance

\

higher charges as commissions

\

Research and advisory services

\

Huge Online & Offline Presence

icici direct logo broker

ICICI Direct

Services: Equity, Futures, Options, Commodity, Currency

Delivery Charges: 0.55%
Intraday Charges: 0.05%
Opening Charges: FREE
AMC: ₹ 700

hdfc securities logo broker

HDFC Securities

Services: Equity, Futures, Options, Commodity, Currency

Delivery Charges: 0.15%
Intraday Charges: 0.015%
Opening Charges: FREE
AMC: FREE

motilal oswal logo broker

Motilal Oswal

Services: Equity, Futures, Options, Commodity, Currency

Delivery Charges: 0.20%
Intraday Charges: 0.02%
Opening Charges: FREE
AMC: FREE

iifl securities logo broker

IIFL Securities

Services: Equity, Futures, Options, Commodity, Currency

Delivery Charges: Zero
Intraday Charges: ₹ 20
Opening Charges: FREE
AMC: ₹ 0 (First Year)

sharekhan logo broker

Sharekhan

Services: Equity, Futures, Options

Delivery Charges: 0.50%
Intraday Charges: 0.01%
Opening Charges: FREE
AMC: ₹ 400

sbicap securities logo broker

SBICap Securities

Services: Equity, Futures, Options, Commodity, Currency

Delivery Charges: 0.50%
Intraday Charges: 0.15%
Opening Charges: ₹ 850
AMC: ₹ 500

OTHER EMERGING BROKERS

Here is the list of few other top stocks brokers in India that also offer excellent trading and investing facilities to their clients at minimal charges.  

paytm logo broker

Paytm Money

Services: Equity, Futures, Options

Delivery Charges: FREE
Intraday Charges: ₹ 10
Opening Charges: ₹ 200 (KYC Charges)
AMC: ₹ 0 

trade smart logo broker

Trade Smart

Services: Equity, Futures, Options, Commodity, Currency

Delivery Charges: ₹ 15
Intraday Charges: ₹ 15
Opening Charges: FREE
AMC: ₹ 300

samco logo broker

SAMCO

Services: Equity, Futures, Options, Commodity, Currency

Delivery Charges: ₹ 20
Intraday Charges: ₹ 20
Opening Charges: FREE
AMC: ₹ 400

fyers logo broker

Fyers

Services: Equity, Futures, Options

Delivery Charges: ₹ 0
Intraday Charges: ₹ 20
Opening Charges: FREE
AMC: ₹ 0

alice blue logo

Alice Blue

Services: Equity, Futures, Options, Commodity, Currency

Delivery Charges: ₹ 0
Intraday Charges: ₹ 15
Opening Charges: FREE
AMC: ₹ 400

tradejini logo broker

Tradejini

Services: Equity, Futures, Options, Commodity, Currency

Delivery Charges: ₹ 20
Intraday Charges: ₹ 20
Opening Charges: ₹ 300
AMC: ₹ 300

FREQUENTLY ASKED Questions

What is Difference between demat and trading account?

Just as money is kept in your savings account, similarly your bought stocks are kept in your demat account. When you buy a stock, it gets credited in your demat account. And when you sell it, it gets debited from the same. At any time, your demat account reflects all your holding stocks. By the way, a demat account is a short form for ‘Dematerialised account’.

On the other hand, a trading account is a medium to buy and sell shares in a stock market. It is used to place purchase or selling orders for a stock in the market. 

While trading in Indian stocks, you’ll need to have both demat and trading account. Anyways, both these accounts are linked and can be opened with any stockbroker. Further, in the era of the internet, opening these accounts is really simple and fast.

Do you need a stockbroker to trade or invest in stocks?

Yes, you need a stockbroker to trade in Indian stocks.

You just cannot walk in the stock exchange to buy/sell your stocks. There are a lot of processes involved in the transfer and settlement of stocks for a satisfactory buying and selling experience of the participants. And here, stockbrokers play an important role, along with the stock exchanges and regulators. Overall, you’ll need a stockbroker to trade in stocks.

What is a stockbroker?

Basically, a stockbroker is an individual/organization who is a registered member of the stock exchange and are given a license to participate in the securities market in place of its clients.

From big banking corporations like HDFC Securities, ICICI Direct, Kotak securities, etc to newer fastly growing startups like Zerodha, Fyers, etc all are examples of stockbrokers in India.

Stockbrokers can directly buy & sell stocks in the share market on behalf of their clients and charge a small commission for this service. However, the commission is minimal compared to the fast trading platform that they offer. Using these platforms, you can buy/sell stocks within minutes using your web/phone while sitting on your home sofa.

What are the types of stockbrokers in India?

There are two basic types of stockbrokers in India: Full-service brokers (Traditional Broker) & Discount brokers (Budget brokers).

— Full-service brokers

These are traditional brokers who provide trading, research, and advisory facility for stocks, commodities, and currency. These brokers charge commissions as a percentage of each trade executed by their clients. They also facilitate investing in Forex, Mutual Funds, IPOs, FDs, Bonds, and Insurance.

A few examples of top full-service brokers in India are: ICICI Direct, HDFC Securities, Kotak Securities, Sharekhan, Motilal Oswal etc.

— Discount brokers

These brokers just provide the trading facility to their clients for stocks, commodities, and currency derivatives. They mostly do not offer advisory services. However, these stockbrokers can save you a lot of brokerages while trading in stocks. Here, you need to pay a flat brokerage charge on the executed trades.

Here is a list of a few top discount stockbrokers in India: Zerodha, Upstox, 5Paisa, Trade Smart Online, Fyers etc.

These days many full-service stock brokers are entering the discount broking because of the popular demand by the clients. 

What factors to check while selecting your stockbroker?

Brokerage charge is one of the biggest factors to look at while picking your stockbroker as an expensive broker can hurt you financially.

Apart, the second biggest factor to check is the reputation of the stockbroker. A stockbroker with a long history of a reliable trading platform and good customer service should be preferred.

When you are opening your trading account with a stockbroker, it’s a long term relationship. You might trade in stocks for years after opening your account. And here, you do not want your brokerage firm to be shut down in between and all your bought equities getting trapped with them. Therefore, while picking your stock broker, first always check the reputation and reliability of the stockbroker. A simple google search or reading the reviews by the existing users can help to find red flags.

Besides, you need to look into their web and mobile trading platforms, advisory services (if you are looking for trading advice), customer service and other perks offered by that stockbroker like research reports, trading/investing education, etc.

Can I switch my previously purchased stocks from one demat account to another?

Yes, you can switch your stocks if you are planning to migrate from one demat account to another.

Here, you have two options. Either, you can fill the DIS (Delivery instruction sheet) with information about the new demat account number and submit it to your previous stockbroker. Once filed correctly, they’ll transfer the shares.

Else, you can do it online using the EASIEST facility available on the CDSL website. CDSL is the central securities depository based in Mumbai. EASIEST allows you to transfer shares from one demat to another demat account with simple clicks once you have created your account and linked your stock brokers. Here’s the link to the portal and instructions regarding the same.

How to open your demat and trading account?

Opening your trading and demat account is completely online, paperless and hassle-also free with some leading stockbrokers.

If you already have the soft copies of your documents (PAN card, aadhar card and saving account statement/Cancelled Cheque) on your mobile/laptop, you can open these accounts within an hour. Simply visit the stockbroker website and apply for an account.

What is Intraday Trading and Delivery Trading?

A lot many beginners trades in stocks and confuse it by investing or delivery. However, both of them are really different:

  1. Intraday Trading: When you buy & sell a share on the same day, then it’s called Intraday trading. For example, you bought a share in the morning and sold it before the market closes on the same day, then it will be considered as an intraday
  2. Delivery Trading: On contrary to Intraday, when you buy a share and hold it for at least one day, then it’s called a delivery. For example, you bought a share today and sold it after three days (or any day but today) then it will be considered as a delivery. Here you can sell the stock tomorrow, or the day after that, or a week later, a year later, or 20 years later.

Most stockbrokers charge different brokerage for delivery trades and intraday trades.

What is AMC or Account Maintenance Charges?
Account Maintenance Charge is the charge you pay to maintain your DEMAT account with stockbrokers. AMC can be charged Monthly, Quarterly, or Annually, based on the terms mentioned by the broker.
AMC for demat accounts can be somewhere between Rs 300-700 with most leading stock brokers in India. 
In addition, generally, there is no account maintenance charge (AMC) for your trading account and commodity account for most brokers.
Can I open multiple accounts?

Yes, you can open multiple accounts.

In fact, you can open as many trading accounts as you want with multiple stock brokers. If you wish, you can have one account with a discount broker and another with a full-service broker.

However, keep in mind that you have to pay annual maintenance charges (AMC) for all your active accounts. Generally, this AMC can be between Rs 300–700 per year (lower for discount brokers). Therefore, if you have three accounts, you might have to pay a maintenance charge between Rs 900–2100 per year, even if you are not actively using all your accounts.

How to close your demat account?

probably the least asked questions. However, we thought to mention this here to complete the article.

To close your demat account, you can fill the Account Closure Form available on your stockbroker’s website and submit it. Generally, it takes between 7–10 days to close your account.

Note: Before closing your account make sure that you don’t have any shares or a negative balance in your account. You can have a negative balance if your account was inactive for the last few years and you didn’t pay the AMC. Further, if you have any stocks in the account, either sell them or transfer them to your other active account before closing this one.

RELATED ARTICLES

Quick Disclaimer: The above-mentioned brokerage and other charges are subjected to change based on the terms by the stockbrokers. The information found on this page and in related products are written based on the best data available at the time of writing and are believed to be accurate. However, in case, there is any discrepancy, please reach us out at info@tradebrains.in so that we can edit or take necessary actions.