The stock market involves people who want to buy and sell stocks. It allows companies to increase their capital and grow their business. People invest in the market in a hope that they will get higher returns on their investment. The stock market has shown rapid growth in India with the increase of some exceptional brokers, we have mentioned some largest stock brokers in India later in this blog.
You should have some basic knowledge about the market before investing in it. To invest in the market, you must deal with a stock broker who will manage your stocks. Stock brokers are financial agents who use their expertise to facilitate easy buying and selling of stocks on behalf of their clients. They analyze financial reports and give investment advice which help in minimizing the risk and steering your portfolio to its maximum potential. Therefore choosing the right broker is very important for anyone before investing in the market.
List of the top 10 largest stock brokers in India
1. Groww
Groww is quite suitable for beginners who have just begun or plan to begin their journey in stock marketing. It has a very simple interface and is very easy to understand. It provides users the option to invest in stocks, mutual funds, digital gold, fixed deposits and much more.
Here are some key features of Groww:
- Its pricing model is quite simple.
- It does not take any charges on opening a Demat account.
- There are no opening charges and annual maintenance charges on Groww
- It offers some educational resources like blogs, pdfs and videos to help the investors understand the investments being made.
- It offers quick paperless account opening.
- Its trading platforms are Groww Web trading and Groww Mobile trading App.
The Brokerage charges are as follows :
Delivery – 0.05% or Rs 20 per trade whichever is less
Intraday – 0.05% or Rs 20 per trade whichever is less
Equity – Rs 20 per trade
Future – Rs 20 per trade
Options – Rs 20 per trade
2. Zerodha
Zerodha is the biggest stockbroker in India. It introduced the concept of discount broking in India. They offer services like equities, derivatives, currency, commodities, mutual funds investment and IPO investing. There is no account opening fee that you have to pay. However , you have to pay Rs 300 annual maintenance fee. This platform also has a very simple pricing model. It is a very safe, reliable, trustworthy and beginner friendly platform.
Some of its key features are listed below:
- There is no need to keep a minimum amount while opening the account.
- They don’t charge any clearing fee from their customers.
- Zerodha offers trading softwares like Kite, Console and Kite web for easy functioning.
- Varsity is an extended financial educational resource created by Zerodha. There you can learn about trading and investments. It is free and accessible to all.
- If you refer Zerodha to your friends and family, then you can earn 10% of the brokerage they pay to Zerodha.
The Brokerage Charges are as follows:
Delivery – Rs 0
Intraday – 0.03% or Rs 20 per order whichever is less
Future – 0.03% or Rs 20 per order whichever is less
Options – Rs 20 per order
3. Upstox
Upstox is a discount stock broker which provides many trading opportunities at reasonable prices. It has some big investors like Ratan Tata , Kalaari Capital and GVK David.They offer many services like equity, commodity, currency, EFT, Mutual funds and derivatives. You don’t have to pay any account opening charges. It is a user-friendly platform.
Some of its key features are as follows:
- The procedure of creating a paperless account is swift and easy.
- It offers no fees for trading.
- Margin against share is available.
- Upstox has advanced trading platforms like Upstox Pro Web, Developer Console, Option Chain Tool , Bridge for Amibroker and Upstox MF platform which offers thousands of mutual funds to invest in.
- It makes placing orders easy as you can place orders from anywhere and anytime with your preferable amount.
The Brokerage charges are as follows:
Delivery – 2.5% or Rs 20 whichever is lower
Intraday – 0.05% or Rs 20 whichever is lower
Futures – 0.05% or Rs 20 whichever is lower
Options – Rs 20 as per trade.
4. Angel One
Angel one is the oldest and largest stockbroker in India which has around 30 years of experience. They have a large network with around 110 branches , 11000 trading terminals and around 18000 authorized persons in all the cities in India.
You have to pay zero account opening charges and zero maintenance charges for the first year. It offers many services like equity derivatives, commodity, currency, mutual funds, IPO investments and US stocks.
Some of its key features are:
- They provide full service brokerage facilities with extremely low brokerage charges.
- It has free daily reports and stock recommendations which helps you make the right decision.
- Margin trading and securities with collateral are also available.
- It offers many trading platforms like Angel One App, Angel iTrade, Angel SpeedPro, Angel Broking Login App and Angel BEE.
The Brokerage charges are as follows:
Delivery – Rs 0
Intraday – 0.03% or Rs 20 whichever is lower
Futures – 0.25% or Rs 20 whichever is lower
Options – 0.25% or Rs 20 whichever is lower
5. ICICI Direct
ICICI is a very popular platform which has a huge customer base. It offers services like equity, commodity, currency, mutual funds, government bonds, IPO investments, home loans and fixed deposits. You don’t have to pay any charges for opening the account.
Some of its key features are:
- It provides 3-in-1 trading accounts with a trading, demat account and bank account integrated in it. This helps the users to invest and manage their portfolios easily.
- There is Dual stock exchange access.
- Various investment possibilities are available.
- Funds can be made available immediately.
- It provides a Single Access Point which makes it easier for investors.
- There are trading platforms like Trade racer and ICICI Direct Mobile Trading App.
The brokerage charges are as follows:
Delivery – 0.55%
Intraday – Rs 20 per order
Futures – Rs 50 per order
Options – Rs 50 per order
6. HDFC Securities
HDFC is a prestigious and popular stockbroking space. It enables its clients to invest in bonds,shares,mutual funds, currency,commodities, derivatives,buypacks, IPO. and loan against securities.
You don’t have to pay any charges for opening an account but you have to pay Rs 750 as annual maintenance charges.
Some of its key features are:
- It is a 3-in-1 trading account.
- There are various investment options made available on a single platform.
- Customer support is available 24/7.
- It is a single investment platform.
- The interface is beginner friendly.
- It offers trading platforms like HDFC Blink ProTerminal and HDFC Securities Mobile Trading App.
The brokerage charges are:
Delivery – 0.05% per order
Intraday – 0.05 % per order
Futures – Rs 20 per order
Options – Rs 20 per order
7. Motilal Oswal
Motilal Oswal is a full service brokerage company. They are famous for their in depth research methodology and they aim at providing services that target specific needs of customers. Motilal Oswal has about 35 years of experience and has a good reputation as one of the largest stock brokers in India.
They offer services like equities, commodities, currency ,mutual fund investment, fixed deposits, SIPs and IPO investments. You don’t have to pay any opening account charges or any annual maintenance charges.
Some of its key features are:
- Free Intraday Trading for Lifetime
- They provide live updates of the market.
- You can place bulk orders at once.
- It has features like My Wallet which makes it easier for traders to access their requirements.
- The trading platforms they offer are Motilal Oswal trade, Desktop trading platform, Web trading platform and Mobile App.
The Brokerage charges are as follows:
Delivery – 0.2%
Intraday – Lifetime Free
Futures – 0.02%
Options – Rs 20 per trade
8. 5paisa
5paisa is a discount broker platform which offers many series at low costs. They offer services like equities, currency, commodities, mutual fund investments and IPO investments. You don’t have to pay any account opening charges but you have to pay Rs 300 for annual maintenance charges.
Some of its key features are:
- Provides real time data and market updates.
- It is the only discount broker that provides in-depth research and analysis of about 4000 companies.
- Some trading platforms of 5paisa are Investor terminal web platform, Trader terminal and trading mobile app.
The Brokerage charges are as follows:
Delivery – Rs 20 per order
Intraday – Rs 20 per order
Futures – Rs 20 per order
Options – Rs 20 per order
9. Mirae Asset Sharekhan
Sharekhan, now known as Mirae Asset Sharekhan, is a well-reputed full-service stock broking platform. Their team consists of research professionals who provide valuable services and insights to their customers. They offer services like portfolio management, mutual funds, derivatives, equities, currency, IPO investments, PMS and depository services.
You don’t have to pay any opening account charges however you have to pay Rs 400 for maintenance charges.
Some of its key features are:
- They offer free research recommendations based on clients investment goals.
- Call and Trade is free with their Mirae Asset.
- Orders can be placed automatically by setting a time.
- They provide instant market review which can help clients to understand the market and make informed decisions.
The Brokerage charges are as follows:
Delivery – 0.30%
Intraday – 0.02%
Futures – 0.02%
Options – Rs 39 per order
10. Axis Direct
Axis Direct is a full service stockbroker which provides comprehensive research reports and advice to its clients. They provide services like stock, derivatives, mutual funds , IPO investments, bonds and currencies.
You don’t have to pay any account opening charges but are required to pay Rs 650 annual maintenance charge. However the annual maintenance charge is free for the first year.
Some of its key features are:
- It is a 3-in-1 trading account.
- They offer many different products under one brand.
- They conduct regular webinars, seminars , online tutorials and Q&A sessions by experts in the stock market.
- You can sell shares that have not been credited to your demat account.
The brokerage charges are as follows:
Delivery – 0.50%
Intraday – 0.05%
Futures – 0.05%
Options – Intraday – Rs 0.01
Options – Carry forward – Rs 10 per lot
These were the list of some of the largest stockbrokers in India. They have made investing in the stock market accessible and convenient for many people. The stockbroker platforms offer in-depth research analysis , advanced tools, competitive prices and user-friendly interfaces which has made people knowledgeable about the market. With all these above-mentioned stockbroker platforms , it is very important for people to analyze which stockbroker they have to choose from.
How to Choose the Right Stock Broker ?
Stock Broker provide guidance for better investment decisions and make the whole process smoother and cost-efficient. Choosing the right broker is a crucial decision which will impact your investment journey and help you reach your financial objectives.
Some key factors that you need to consider when choosing a broker are as follows:
- Evaluate your own Investment Strategies
You must first be well acquainted with your investment style and technique before choosing the right broker. You must ensure that the broker’s service meets your financial objectives so that you can reach your financial goals.
- Brokerage Fee and Charges
You can compare the brokerage fee and commission of the multiple platforms and see which suits you best. Verify if there is any account fee, maintenance charges or any hidden charges.
- Trading platform and Tools
Check if the platform is user friendly as it enables ease in placing orders and monitoring investments. Also ensure if they offer advanced tools for better execution, research and analysis. It is also significant to consider if both mobile and desktop platforms are functional.
- Research Team Expertise
A good research team helps you identify the potential investment opportunities and make informed decisions. They provide valuable insights to market trends and guide you in selecting promising stocks. They even offer personalized advice based on your goals and risk tolerance.
- Customer Service and Support
Assess if they are responsive towards customer needs and queries. Check if you can reach for support through calls, emails, SMS, chat etc. Evaluate their availability and support towards customer satisfaction.
- Reputation and Reviews
Check the reputation and safety of the platform. The Broker must definitely be registered with SEBI. Read online reviews and ratings of existing clients or independent agencies before investing.
- One Stop for all services
Having a platform that offers many services being met under a single bracket helps in managing your investments. This also helps you to avoid juggling between different platforms. It enhances your overall experience and simplifies the process.
- Account Opening Process
Check if the account opening process is paperless, easy and efficient. The process must be hassle free to ensure ease in onboarding.
Conclusion
The right stock broker will help you assess the market conditions and guide you towards an impactful investment journey. Stock brokers have made investing more convenient and accessible. Therefore , it is significant to choose the right stock broker who can provide valuable insights and guidance , understand your objectives and strategies and align their services with your goals for a successful journey. To choose the right broker you can consider the list of the top 10 largest stock brokers in India that we have mentioned in this article.