Do you know there are more than 5000 stock brokers in India? So how will you choose the best stock broker in India for trading? This is quite a challenging task because you need a reliable platform. It is obvious that you would register with one that has good reviews, low trading charges, and offers multiple trading options.
To help you out, we have compiled a list of the top 5 stock brokers in India with complete insight so that you can decide and trade safely.
List of Best Stock Brokers in India
1. Zerodha
With more than 4 million customers, Zerodha is the largest and the best stocker broker in India. At present, the broker has a total size of more than 15% of all daily retail trading volumes on Indian stock exchanges. Founded in 2010, Zerodha popularized the idea of discount brokerage by offering investors a no-brokerage model and flat brokerage fees of Rs 20 per trade for intraday and other trades.
Key Features-
- Long-term investment Charges: Rs 0
- Equity Delivery- Rs 0
- Mutual fund investments: ZERO Brokerage
- Intraday Charges: 0.01% or Rs 20 per executed trade
- Equity Trading Account opening charge: Rs 200
- Annual Maintenance Charge: Rs 300 +18%GST
- Services: Equity, Bonds, Currency, Mutual Funds & Commodities
Pros and Cons
| Pros | Cons |
| Low-cost Trading Platform | Slow account opening |
| Great trading platforms | No concrete protection for investors |
| Solid Research | High AMC |
| Trading Tools |
2. Angle One
Angel One is the biggest stock broker in India managing a portfolio of more than 1.5 crore accounts. The broker offers trading options in IPOs, mutual funds, futures, and others. Besides, it has different platforms allowing investors to invest. These are Angel One Trade, Angel One App, Angel Speed Pro, and Angel ARQ.
Even though Angel Broking provided full-service brokerage services and charged its clients a share of their profits for over 20 years.
Key Features
- Account opening charge for Demat: Rs 0
- Annual Maintenance Charge: Rs 240 for Demat and Rs 450 (Second year onwards)
- Intraday Trading: Flat ₹20 or 0.25% Per Trade
- Equity F&O: Flat ₹20 or 0.25% Per Trade
- Currency F&O: Flat ₹20 Per Trade
- Commodity F&O: Flat ₹20 Per Trade
Pros and Cons
| Pros | Cons |
| Offer expert advice | No 3-1 account |
| Low brokerage fees | No SME trading |
| Intuitive Interface |
3. ICICI Direct
One of India’s leading retail stock brokers ICICI Direct presently has more than 18 lakh active users. A 3-in-1 account is among the numerous services it provides. Fixed deposits, initial public offerings, mutual funds, commodities, and currency are among its trading services. In terms of full-service stockbrokers, ICICI Securities’ subsidiary ICICI Direct comes in first. There are different brokerage plans including I-Secure, I-Saver & Prepaid.
Key Features
- Demat opening charges- Nil
- Demat AMC- Rs. 700 (waived for ICICIdirect customers for the first year)
Rs. 300 for ICICIdirect (Neo customers from first year onwards)
- Delivery charges: 0.15% – 0.25%
- Intraday Charges: Rs 15 per trade
- Futures/Options/Currency/Commodity Charges: Rs 20 per trade
- Margin Funding: 8.9% pa
- Services: Equities, Derivatives, Currency, Mutual Funds, IPOs, FD, Bonds,
Pros and Cons
| Pros | Cons |
| 3-in-1 trading account | High brokerage charges |
| Instant payout | Poor mobile app |
| US stock investment option available |
4. Groww
Although not so old, Groww managed to cover the stock brokerage market in India. At present, the platform has more than 6 million active users where they can directly invest in mutual funds, bonds, IPOs, etc. The introduction of the platform was the goal of developing a robust yet user-friendly trading app that could be used from any location.
Key Features
- Account Opening Charges: Rs 0
- Annual Maintenance Charges: Rs 0
- Brokerage Charges: Rs 20 or 0.05% per executed trade
- Equity Delivery Trading- Rs 20 per trading
- Equity Intraday Trading- Rs 20 per trading
Pros and Cons
| Pros | Cons |
| 3-in-1 trading account | High brokerage charges |
| Instant payout | Poor mobile app |
| US stock investment option available |
5. UpStox
Upstox being the leading stock broker platform in India, has more than 2 million active users. With multiple features and a discount trading platform in India, Upstox has gained good momentum in the past few years. Since the time of its establishment, the platform witnessed considerable improvement in its service. From helpful trading tools to resources to learn, Upstox ensures stock investors have the best trading experience on the platform.
Key Features
- Annual Maintenance charges: Rs 150
- Intraday Trading: Rs 20 per executed trade or 0.05%
- Futures Trading Charges: Rs 20 or 0.05% per order
- Options Trading Charges: Rs 20 per trade
Pros and Cons
| Pros | Cons |
| Paperless Trading | No availability of Good Till Cancelled and Good Till Date |
| Margin against share | Poor mobile app |
| 3-in-1 trading account |
6. Options Trader by Dhan
Options Trader by Dhan is a trading platform built specifically for F&O trading and designed for options traders in India. Options Trader is one of the most analytically advanced options trading platforms available to retail traders in India, as it offers a live option chain, real-time Greeks, a multi-leg strategy builder, a straddle chart, OI analysis tools and an IV chart in a single screen. The platform is SEBI-regulated and can be accessed without logging in to an account. You can explore the option chain and strategy builder using 15-minute-delayed data before opening an account.
Key Features-
- Account Opening Charge: Rs 0
- Annual Maintenance Charge: Rs 0 (zero platform fee for Options Trader)
- Equity Delivery: Rs 0 brokerage
- Equity Intraday / ETF/ MTF: Rs 20 or 0.03% per executed order
- Equity F&O: Rs 20 or 0.03% per executed order
Pros and Cons
| Pros | Cons |
| Dedicated platform built for options traders | Not a full-service general investment platform |
| Real-time Greeks, OI, and IV on one screen | Only online presence, no offline support |
| Pre-login access with 15-min delayed data |
Things to Consider When Choosing the Best Stock Broker in India
There are some factors when it comes to looking for the best stock broker in India. Some of these are-
- Past Performance Record: You may assess a stock broker’s dependability and credibility by looking at their prior performance.
- Reviews: Since user reviews are provided by actual clients of the broker, they provide a more accurate picture of the business. Besides, you can even check the trading expert reviews to know how well they perform.
- Brokerage Fees: Your earnings will decrease as the brokerage fees increase. As a result, thoroughly review the broker’s pricing fee to identify any additional expenses. You can even compare the price as per the reviews.
- Trading Tools: Verify if the broker’s platforms provide timely access to the most recent trading news, professional advice, and trade tips and tricks.
Conclusion
The stock market fluctuates constantly, and traders need a platform or broker who can help with easy trading. The Instock Broker, financial advisor is the one offering complete support from tools to learning resources. Decide the best one for your long-term trading goal and invest rightly.