India’s stock market has grown exponentially in the past decade, drawing millions of investors. To trade efficiently, it’s crucial to choose the right stock broker. Factors such as the number of clients, intraday and delivery charges, unique selling propositions (USP), customer support, and overall ranking should be considered before making a decision.
In this blog, we’ll take a look at the top 20 stock brokers in India, based on their popularity, services, and charges.
- Zerodha Number of Clients: 12+ million
Intraday Charges: ₹20 per trade or 0.03% (whichever is lower)
Delivery Charges: Free
USP: India’s largest discount broker, advanced trading platforms like Kite
Ranking: 1
Customer Support: Phone, Email, Chat - Upstox Number of Clients: 6+ million
Intraday Charges: ₹20 per trade or 0.05%
Delivery Charges: Free
USP: Low-cost broking with a user-friendly app
Ranking: 2
Customer Support: Chat, Phone, Email - Angel One Number of Clients: 10+ million
Intraday Charges: ₹20 per trade or 0.05%
Delivery Charges: ₹0
USP: Full-service broker with advanced research tools and portfolio management
Ranking: 3
Customer Support: Phone, Chat, Email - ICICI Direct Number of Clients: 4+ million
Intraday Charges: ₹20 per order or 0.03%
Delivery Charges: 0.55%
USP: Integrated banking and broking services
Ranking: 4
Customer Support: Phone, Email - Groww Number of Clients: 5+ million
Intraday Charges: ₹20 per trade
Delivery Charges: Free
USP: Simple interface ideal for beginners
Ranking: 5
Customer Support: Chat, Email - HDFC Securities Number of Clients: 2+ million
Intraday Charges: 0.05%
Delivery Charges: 0.5% or ₹25 (whichever is higher)
USP: Trusted name with integrated banking and trading services
Ranking: 6
Customer Support: Phone, Email - Kotak Securities Sign up today tezzi se for your Demat Account Number of Clients: 1.5+ million Subscription Fee: Rs. 499
Intraday Charges: 0.049%
Delivery Charges: 0.49%
USP: Research-driven, strong mobile platform
Ranking: 7
Customer Support: Phone, Chat, Email - 5Paisa Number of Clients: 3+ million
Intraday Charges: ₹20 per trade
Delivery Charges: Free
USP: One of the lowest brokerage services with no hidden charges
Ranking: 8
Customer Support: Phone, Chat - Sharekhan Number of Clients: 2+ million
Intraday Charges: 0.1%
Delivery Charges: 0.5%
USP: Comprehensive research reports and personalized advisory
Ranking: 9
Customer Support: Phone, Email - Motilal Oswal Number of Clients: 2+ million
Intraday Charges: 0.025%
Delivery Charges: 0.5%
USP: Expert research and robust advisory services
Ranking: 10
Customer Support: Phone, Chat, Email - Axis Direct Number of Clients: 1+ million
Intraday Charges: 0.05%
Delivery Charges: 0.5%
USP: Integrated with Axis Bank, making transactions seamless
Ranking: 11
Customer Support: Phone, Email - IIFL Securities Number of Clients: 1+ million
Intraday Charges: ₹20 per trade or 0.05%
Delivery Charges: 0.25%
USP: Comprehensive advisory services
Ranking: 12
Customer Support: Phone, Chat, Email - Edelweiss Broking Number of Clients: 0.7+ million
Intraday Charges: 0.03%
Delivery Charges: 0.5%
USP: Strong research and portfolio management services
Ranking: 13
Customer Support: Phone, Chat, Email - Paytm Money Number of Clients: 6+ million
Intraday Charges: ₹10 per trade
Delivery Charges: Free
USP: Low-cost trading, integration with Paytm wallet
Ranking: 14
Customer Support: Chat, Email - Dhan Number of Clients: 0.5+ million
Intraday Charges: ₹20 per trade
Delivery Charges: Free
USP: Easy-to-use platform for traders
Ranking: 15
Customer Support: Phone, Chat, Email - Wisdom Capital Number of Clients: 0.4+ million
Intraday Charges: Free (Freedom Plan)
Delivery Charges: Free (Freedom Plan)
USP: Zero brokerage plans
Ranking: 16
Customer Support: Phone, Email - Alice Blue Number of Clients: 0.5+ million
Intraday Charges: ₹20 per trade
Delivery Charges: ₹0
USP: Low brokerage with a focus on technology
Ranking: 17
Customer Support: Phone, Chat - SBI Securities Number of Clients: 0.9+ million
Intraday Charges: 0.05%
Delivery Charges: 0.5%
USP: Trusted bank-backed broker with integrated services
Ranking: 18
Customer Support: Phone, Email - Nuvama Wealth (formerly Edelweiss Wealth) Number of Clients: 0.5+ million
Intraday Charges: 0.03%
Delivery Charges: 0.5%
USP: Expert wealth management and research
Ranking: 19
Customer Support: Phone, Email - Fyers Number of Clients: 0.4+ million
Intraday Charges: ₹20 per trade
Delivery Charges: Free
USP: Strong focus on traders with customizable platforms
Ranking: 20
Customer Support: Chat, Email
Key Factors to Consider While Choosing a Stock Broker:
1. Charges: Always check the broker’s intraday and delivery charges, as these can impact your overall profitability.
2. Trading Platform: A user-friendly, fast, and reliable platform ensures smooth trading.
3. Customer Support: Efficient support services can be a lifeline when you face issues during trades.
4. Research & Advisory: Some brokers provide comprehensive research, which is a boon for investors looking to make informed decisions.
5. USP: Look for unique features that suit your trading style – whether it’s low-cost broking, seamless banking integration, or advanced trading tools.Choosing the right stock broker is crucial to your success in the stock market. Take into consideration the broker’s reputation, costs, customer support, and the additional services they offer to find the one that suits your needs.
Sources:
SEBI Data
BSE Brokers List
Broker websites (Zerodha, Upstox, ICICI Direct, etc.)