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: Aug 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 225 registered stockbrokers in India as of 30th August 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 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 Clients% Market Share
1ZERODHA BROKING LIMITED230379917.09%
2ICICI SECURITIES LIMITED11658878.65%
3RKSV SECURITIES INDIA PRIVATE LIMITED10111177.50%
4ANGEL BROKING LIMITED9331286.92%
5HDFC SECURITIES LTD.7864155.83%
6KOTAK SECURITIES LTD.6756205.01%
75PAISA CAPITAL LIMITED6315144.69%
8SHAREKHAN LTD.5871214.36%
9MOTILAL OSWAL FINANCIAL SERVICES LIMITED4385363.25%
10AXIS SECURITIES LIMITED3188492.37%
11SBICAP SECURITIES LIMITED2803202.08%
12IIFL SECURITIES LIMITED2430341.80%
13GEOJIT FINANCIAL SERVICES LIMITED1755331.30%
14NEXTBILLION TECHNOLOGY PRIVATE LIMITED1680481.25%
15KARVY STOCK BROKING LTD.1543761.15%

Please note that the total number of active clients of all stockbrokers is 1,34,78,848 (1.34 Cr) as of Aug 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 August 2020, Zerodha constitutes around 17.09% of the total market share of the active clients registered on the National Stock Exchange. It has over 23 lakh active customers compared to a total of over 1.34 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. 

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 11.16 lakhs unique clients. 

The other most prominent stockbrokers in this list are Upstox aka RKSV Securities (10.1 Lakh Clients), Angel Broking (9.33 lakh clients), HDFC Securities (7.86 Lakh clients), Kotak Securities (6.75 lakh clients), 5Paisa (6.31 lakh clients), Sharekhan (5.87 lakh clients), Motilal Oswal Group (4.38 lakh clients) and Axis Securities (3.18 lakh clients). Together these 15 biggest stockbrokers constitute over 73.25% 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.

S. NoName of Stockbroker# of Active Clients% Market Share
16EDELWEISS BROKING LIMITED1412581.05%
17SMC GLOBAL SECURITIES LTD.1229480.91%
18RELIANCE SECURITIES LIMITED1202610.89%
19RELIGARE BROKING LIMITED1192230.88%
20NIRMAL BANG SECURITIES PVT. LTD.1097320.81%
21MARWADI SHARES AND FINANCE LIMITED908860.67%
22VENTURA SECURITIES LTD.825550.61%
23ALICE BLUE FIN SVCS P LTD800760.59%
24ANAND RATHI SHARE AND STOCK BROKERS LIMITED762220.57%
25SAMCO SECURITIES LIMITED664190.49%
26TRADEBULLS SECURITIES (P) LTD.636780.47%
27JAINAM SHARE CONSULTANTS PRIVATE LIMITED615330.46%
28MONARCH NETWORTH CAPITAL LIMITED507870.38%
29IDBI CAPITAL MARKETS & SECURITIES LTD.506500.38%
30ADITYA BIRLA MONEY LIMITED492530.37%

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!