Top Stock Brokers in India 2024

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In India, more than 300 brokers are registered with SEBI and different stock exchanges, yet the top stock brokers in India (the 5 biggest players) control 60% of the industry. If you’re having trouble finding the best broker to open an account with, you’ve come to the right spot. Take a look at the list of the top 10 stock brokers in India.

Top Stock Brokers in India 2023

What is a Stock Broker?

Stock brokers serve as a middleman between buyers and sellers since they are market makers. They either create or remove liquidity based on the type of order. These businesses usually offer their clients various services, including money management, investment guidance, and even the creation of financial instruments like ETFs or mutual funds.

Brokers receive commissions on each transaction and interest as account custodians. To increase their clients’ assets under management, brokerage houses frequently provide signing bonuses to new customers.

Read Also: Best Intraday Trading Tips for Beginners

Best Stock Broker in India 2024 with Highest Active Client Base 

The list of top stock brokers has seen several changes over the years. Here is the list of top share brokers in India by the number of active clients in March 2024.

#1 Groww: Biggest Among Top Stock Brokers in India

Groww

Active Clients – 9,538,609
Complaints – 834
Market Share – 23.40%
Groww Rating – 9.15/10

Account Opening & AMC Charges:

  • Trading & Demat Account Opening Charge – Zero
  • Trading Account AMC Charge – Zero
  • Demat Account AMC Charge – Zero

Brokerage Charges:

Trading TypeBrokerage Charges
Equity DeliveryINR 20 per trade (or 0.05% whichever is lower)
Equity IntradayINR 20 per trade (or 0.05% whichever is lower)
Equity FutureINR 20 per executed order
Equity OptionsINR 20 per executed order
SEBI Equity Delivery Charge0.0001% (INR 10/Crore)
SEBI Equity Intraday Charge0.0001% (INR 10/Crore)

#2 Zerodha

Zerodha

Active Clients – 7,287,148
Complaints – 567
Market Share – 17.88%
Zerodha Rating – 9.00/10

Account Opening & AMC Charges:

  • Trading & Demat Account Opening Charge – Online – INR 200, Offline -INR 500
  • Trading Account AMC Charge – Zero
  • Demat Account AMC Charge – INR 300 per year

Brokerage Charges:

Trading TypeBrokerage Charges
Equity DeliveryNo brokerage
Equity IntradayWhichever is lower than INR 20 per executed order or 0.03%
Equity FutureWhichever is lower than INR 20 per executed order or 0.03%
Equity OptionsINR 20 per executed order
Currency FuturesWhichever is lower than INR 20 per executed order or 0.03%
Currency OptionsINR 20 per executed order
Commodity FuturesWhichever is lower than INR 20 per executed order or 0.03%
Commodity OptionsINR 20 per executed order
SEBI Equity Delivery Charge0.0001% (INR 10/Crore)
SEBI Equity Intraday Charge0.0001% (INR 10/Crore)

#3 Angel One – Fast-growing Discount Broker

Angel One

Active Clients – 6,111,879
Complaints – 1,203
Market Share – 14.99%
Angel One Rating – 8.90/10

Account Opening & AMC Charges:

  • Trading & Demat Account Opening Charge – Zero
  • Trading Account AMC Charge – Zero
  • Demat Account AMC Charge – Free for the first year, INR 240 for the Second Year Onwards

Brokerage Charges:

Trading TypeBrokerage Charges
Equity DeliveryZero per trade
Equity IntradayINR 0 brokerage up to INR 500 for first 30 days*
Then, lower of INR 20 or 0.03% per executed order
Equity Future & OptionsINR 0 brokerage up to INR 500 for first 30 days*
Then, INR 20 per executed order
Currency Futures & OptionsINR 0 brokerage up to INR 500 for first 30 days*
Then, INR 20 per executed order
Commodity Futures & OptionsINR 0 brokerage up to INR 500 for first 30 days*
Then, INR 20 per executed order

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#4 Upstox

Upstox

Active Clients – 2,516,647
Complaints – 299
Market Share – 6.17%
Upstox Rating – 9.00/10

Account Opening & AMC Charges:

  • Trading & Demat Account Opening Charge – Zero
  • Trading Account AMC Charge – Zero
  • Demat Account AMC Charge – Free for the first year, INR 150 for the Second Year Onwards

Brokerage Charge:

Trading TypeBrokerage Charges
Equity DeliveryWhichever is lower than INR 20 per order or 2.5%
Equity IntradayWhichever is lower than INR 20 per executed order or 0.05%
Futures (Equity, Currency & Commodity)Whichever is lower than INR 20 per executed order or 0.05%
Options (Equity, Currency & Commodity)INR 20 per executed order
SEBI Equity Delivery Charge0.0001% (INR 10/Crore)
SEBI Equity Intraday Charge0.0001% (INR 10/Crore)

#5 ICICIdirect – Biggest Among Traditional Players

ICICIdirect

Active Clients – 1,845,202
Complaints – 971
Market Share – 4.53%
ICICIdirect Rating – 8.75/10

Account Opening & AMC Charges:

  • Trading & Demat Account Opening Charge – Zero
  • Trading Account AMC Charge – Zero
  • Demat Account AMC Charge – INR 300 (2nd year)

Brokerage Charge:

Trading TypeBrokerage Charges
Equity Delivery0.55% (including buy & sell)
Equity IntradayINR 20 per executed order
Equity FutureZero
Equity OptionsINR 20 per executed order
Currency Futures & OptionsINR 20 per executed order
Commodity Futures & OptionsINR 20 per executed order
NCDs / Bonds0.75%

#6 Kotak Securities

Kotak Securities

Active Clients – 1,208,948
Complaints – 610
Market Share – 2.97%
Kotak Securities Rating – 9.25/10

Account Opening & AMC Charges:

  • Trading & Demat Account Opening Charge – INR 99
  • Trading Account AMC Charge – Zero
  • Demat Account AMC Charge – INR 600 per year

Brokerage Charge:

Trading TypeBrokerage Charges
Equity Delivery0.25% (Minimum INR 20 per trade)
Equity IntradayFree
Equity FuturesDelivery: INR 20 per trade | Intraday: Free
Equity OptionsDelivery: INR 20 per trade | Intraday: Free
Currency FuturesDelivery: INR 20 per trade | Intraday: Free
Currency OptionsDelivery: INR 20 per trade | Intraday: Free
Commodity FuturesDelivery: INR 20 per trade | Intraday: Free
Commodity OptionsDelivery: INR 20 per trade | Intraday: Free

#7 HDFC Securities

HDFC Securities

Active Clients – 1,097,747
Complaints – 283
Market Share – 2.69%
HDFC Securities Rating – 8.55/10

Account Opening & AMC Charges:

  • Demat Account Opening Charge – INR 999
  • Trading Account Opening Charge – Zero
  • Trading Account AMC Charge – Zero
  • Demat Account AMC Charge – Free for the first year, INR 750 for the Second Year Onwards

Brokerage Charge:

Trading TypeBrokerage Charges
Equity Delivery0.32%
Equity Intraday0.032%
Equity FutureINR 20 per trade
Equity OptionsINR 20 per trade

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#8 Motilal Oswal

Motilal Oswal

Active Clients – 879,629
Complaints – 498
Market Share – 2.16%
Motilal Oswal Rating – 8.35/10

Account Opening & AMC Charges:

  • Trading & Demat Account Opening Charge – Zero
  • Trading Account AMC Charge – Zero
  • Demat Account AMC Charge – Free for the first year, INR 199 for the Second Year Onwards

Brokerage Charge:

Trading TypeBrokerage Charges
Equity Delivery0.20%
Equity Intraday0.02%
Equity Futures0.02%
Equity OptionsINR 20 per lot
Currency FuturesINR 20 per lot
Currency OptionsINR 20 per lot
Commodity Futures0.02%
Commodity OptionsINR 200 per lot

#9 SBI Securities

sbi securities logo

Active Clients – 863,824
Complaints – 212
Market Share – 2.12%
Sharekhan Rating – 9.20/10

Account Opening & AMC Charges:

  • Trading & Demat Account Opening Charge – INR 850
  • Trading Account AMC Charge – Zero
  • Demat Account AMC Charge – INR 350

Brokerage Charge:

Trading TypeBrokerage Charges
Equity Delivery0.50%
Equity Intraday0.05%
Equity Futures0.05%
Equity OptionsINR 100 per lot
Currency Futures0.03%
Currency OptionsINR 30 per lot

#10 Paytm Money

paytm money

Active Clients – 802,146
Complaints – 188
Market Share – 1.97%
5paisa Rating – 8.45/10

Account Opening & AMC Charges:

  • Trading & Demat Account Opening Charge – INR 200
  • Trading Account AMC Charge – INR 300 per year
  • Demat Account AMC Charge – Free

Brokerage Charge:

Trading TypeBrokerage Charges
Equity DeliveryINR 20 per executed order or 2.5% whichever is low
Equity IntradayINR 20 per executed order or 0.05% whichever is low
Equity FuturesINR 20 per executed order or 0.01% whichever is low
Equity OptionsINR 20 per executed order

Top Stock Brokers FAQs

Which are the top stock brokers in India?

Groww is the biggest stock broker in the country, followed by Zerodha and Angel One in terms of the number of clients.

Who is the top-paid stock broker?

ICICI Direct is the best stock broker among all the brokers. ICICI Bank is followed by stock brokers like HDFC Securities, Sharekhan, and Kotak Securities.

Which is the fastest-growing broker in India?

Upstox is the fastest-growing stock broker in India. Upstox is the best choice for high-volume traders looking for high margins, low brokerages, and decent trading platforms.

1 COMMENT

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