Investing and Trading used to happen in open Markets but thanks to technology today we can invest and trade from our homes. Stock Brokers have eased investing way, making it easier and more seamless for traders and investors.
But, who is Stock Broker? Stock brokers are intermediaries between investors/traders and the stock market. They let you execute the buying and selling in the stock market through their platform by charging a fee for it. Popular stock brokers provide various facilities.
In India, you can mainly see two types of stock brokers. One is your full-service stock broker and a discount service broker. A full-service broker offers a wide range of services apart from stock exchanges that include reports, advisory, etc.
A discount broker charges comparatively lesser brokerage than a full-service broker for carrying a buy and sell of stocks. Mainly limited services are given by a discount broker. As a Trader, the right platform to trade is essential, as you do not want to miss time and suffer a loss.
Here is the list of 18 Popular Stock Brokers in India, that are chosen on the basis of active clients, their top features for traders, and much more.
The Most Popular Stock Broker in India is Zerodha. This company started its operation in 2010 and now it has over 1 crore clients. This broker has the most active clients on their platform due to a quality user interface, making it easy to trade.
On Zerodha the charges are low compared to other brokers and the equity delivery is zero. Even the account opening charges are zero. You also get live news from the finance sector and live market changes.
They have a different platform for investment instruments like coins for mutual funds, and Kite for shares.
Upstox was started in 2009 in Delhi. Earlier it was known as RKSV. Upstox is the best broker if you are looking for a high margin of up to 15x. It is the fastest-growing discount broker. If you have multiple trades per day, this broker may be one of the best options to go for. The intraday brokerage is only Rs. 20.
It also applies to commodities and F&O. The AMC for Upstox is Rs.25 per month. It is quite efficient to complete trading on Uptox due to its easy-to-conduct trade features like charts, and analysis.
Upstox is backed by investors like Ratan Tata and Tiger Global Management, that enough for people to trust this stock broker. In 2020, they crossed a million customers, and later in 2021, they have done really well.
3- Angel One
Angel One is one of the leading stock brokers in India and they believe in a tech-driven approach from the very early phase. Angel One was initially started as a full-service broker which later changed into a discount broker.
Here is a list of some products and services that Angel One offers:
- Broking Services
- Investment Advisory
- Margin Trading
- Loan Against Shares
You can open a free trading account on angel broking and there are no AMC for the Trading Account. Angel Broking provides up to 10x margin on equity trading.
5Paisa comes with amazing features for traders and investors by providing a common account for trading, insurance, and mutual fund investment.
They have different packages for trading and depending on that you are charged Rs.10 to Rs.20 per Intraday order. You can open a Free Trading account by paying merely Rs. 25 for the AMC per month.
Here is a list of some achievements of 5Paisa:
- Best Brand By Economics Times
- The Great Indian BFSI Award
- Great Place to Work Certified
5- Motilal Oswal
Motilal Oswal is one of the oldest brokers in India. This company has operations in over 500+ cities in India. It was started by Mr. Motilal Oswal and Mr. Ramdeo Agrawal. Motilal Oswal was first a sub-broker who later turned into the top broker in India.
They have a scattered variety of customer base which caters to high net worth individuals, Foreign investors, and retail investors too. Motilal Oswal has more than 5 million customers and has achieved more than 100 awards.
Motilal Oswal also provides personal financial advisory services. A trader can also choose from a variety of plans available as per the requirements.
Groww was started by four Flipkart ex-employees. They wanted to start a platform with the intention to make Investments easy and therefore grow and were initially started as a direct mutual fund investment broker.
They started their service of Equity Trading in the mid of 2020. Groww has a customer base of more than 1 crore and uses a platform and mobile app known as Groww to provide services. They also provide free mutual fund services.
The broker further plans to include credit and us stocks in their services as they have all other financial services on their platform.
7- Wisdom Captial
Wisdom Captial was founded by Deb Mukherjee in 2013. Wisdom Capital entered the market when the other brokers were already providing services at high brokerage charges. It was the first broker to introduce the “Free Trade and Investment Zone” in India.
Wisdom Captial charges a brokerage of 20% of the trade value by allowing the leverage of 5x on Equity Trading. They also allow Algo trading, and trades across all the segments. The Lifetime AMC is Rs. 999 while you can open a Free Demat account. Wisdom capital is one of the best discount brokers in India.
8- IIFL Securities
IIFL Securities was founded by Nirmal Jain in the year 1995. It is a full-service stock broker. In 2015, IIFL launched its trading platform known as IIFL Market which became an instant hit amongst its peers.
The IIFL group provides various other financial services for investors in equity, mutual funds, goods, commodities, etc. The Intraday brokerage is flat Rs.20/trade.
You can open a free trading account here and enjoy a free AMC for the first year however, from the second year a fee of Rs. 250 applies. IIFL continues to look for growth in the economy and has recently changed Investments.
Sharekhan is one of the largest stock brokers in India and it is a full-service stock broker. It was founded in 2000 by Shripal Morakhia. Along with financial services, Sharekhan also promotes financial education on its platform. Sharekhan was one of the first brokers to offer an online trading service.
Sharekhan has a presence in more than 600 cities in India and 3500 centers of Sharekhan are available. You can also use their Sharekhan app to trade and invest. On the app, you can get live market updates and charts to make your trading more effective.
Edelweiss was started by Mr. Venkat Ramaswamy and Mr. Rashesh Shah in the year 1995. It is a diversified financial service offering broker. Edelweiss also provides general insurance, life insurance along with financial services.
The brokerage charges are quite low at the equity intraday brokerage is Rs. 10/order. On the basic plan, the currency and F&O brokerage are the same.
The Trading account opening has no charges but and even the AMC is free until the second year when the charges go up to Rs. 500. They have multiple brokerage plans, you can visit their site for more details. This is a tech-driven company and Edelweiss has a wide range of financial services.
11- ICICI Direct
ICICI Direct was started by the CEO and Founder of ICICI Securities, Mr. Vijay Chandok. ICICI Securities was started in the year 1995 and in early 2000 ICICI Direct started taking over the electronic brokerage platform.
Along with trading services the broker also provides mutual fund services. A monthly outlook is also provided over stocks and mutual funds. The brokerage charge for the equity intraday is 0.275 of the first leg.
ICICI Direct is one of the popular names in stock trading. They have a good presence all over India.
12- HDFC Securities
HDFC Private bank decided to introduce its new expansion in financial services and HDFC Securities was formed as a subsidiary of HDFC Bank. In the year 2000 HDFC securities started providing trading and investing services.
They are award-winning brokers providing investing, mutual funds, stocks, commodities, bonds, etc. Being a bank and widely spread in the financial sector, anyone can open a 3-in-1 account here that consists of a Demat+Trading+Saving account all in one. HDFC Securities has a wide range of financial products and a good presence in India.
13- Kotak Securities
Kotak Securities is a subsidiary investing broker for Kotak Mahindra Private Bank. It is also the broker that provides a 3-in-1 account for the users that provide Demat, Trading, and Savings management from one single account.
It provides a wide variety of investment services like mutual funds ETFs and much more. Kotak Securities is planning to expand its franchise in the upcoming year for the high customer base.
14- SBI Cap Securities
SBI is widely spread across the globe and is a very popular stock broker due to the parent company SBI Bank. The franchise has let SBI Cap Securities gather a very huge customer base. They provide various financial services that includes mutual fund, commodities, banking, and much more.
SBI also gives your umbrella platform to invest in stocks, bonds, etc. You can download their app for mobile trading and can open your 3-in-1 account in a few steps.
15- Paytm Money
We all have been introduced to Paytm for its money transactional services and being long in this sector Paytm received permission from SEBI in 2019 to start its own investment and trading services.
Paytm Money charges up to Rs. 500 for account opening charges and the brokerage for equity intraday and F&O is Rs. 10 per day. Paytm Money further wants to get into general insurance, as said by their CEO.
Including the above 15 stock brokers, there are many other options are also there. To choose one, you can start by understanding your needs. If you are a trader who performs multiple trades in a day then you can opt for a very efficient platform with fewer brokerage fees.
For wide financial services including other instruments, you have many options too. Choose the effective one as per your requirements. Kindly check the current prices and services from their original website because they may change it from time to time.