Best stock brokers in India – Top 10 stock broker in India

Last Updated on December 20, 2024 – by Mamta

The selection of the best stock broker in India is important for successful trading and investments. There are numerous options available where the top stock brokers stand out for their competitive pricing, advanced trading platforms, research tools, and excellent customer service. Whether you are a beginner or an experienced trader you need to find a broker that arranges with your financial goals.

There are leading names like Zerodha, Angel one or Upstox that offer innovative features such as low brokerage fees, user-friendly interfaces and smooth mobile trading. The guide will help you to explore the top stock brokers in India which ensures you to make an informed decision.

List of Top 10 stock brokers in India

What are the Different Types of Stock Brokers?

There are two main types of stock brokers:

1. Full-Service Brokers

Full-service brokers are those who provide a wide range of services. The services include personalized investment advice, research reports, portfolio management and access to different financial products. They generally charge high brokerage fees as they offer complete services.

2. Discount Brokers

Discount brokers are those who only focus on executing trades at low process without providing advisory services. They are great for experience traders who prefer to do investment in their own. These brokers provide user-friendly online platforms and low brokerage fees.

1. Zerodha

Zerodha is india’s biggest and best broker for trading that is known for offering low-cost, transparent pricing to their users. It offers zero brokerage for equity delivery trades and flat INR 20 per order for intraday, futures, and options. Zerodha’s user-friendly platforms, including Kite and Coin, provide advanced tools for trading and mutual fund investments.

Top Features of Zerodha:

• Low Brokerage Charges: Zerodha offers zero brokerage on equity delivery trades and charges a flat INR20 per order for intraday, futures, and options, making it highly cost-effective.
• Advanced Trading Platforms: Its platform, Kite, provides a smooth experience with advanced charting tools, market visions, and easy order placement.
• Diverse Investment Options: Zerodha supports trading in equities, derivatives, mutual funds, bonds, and government securities, catering to various investment needs.

Pros and Cons

Services Offered by Zerodha

• Equities
• Currency
• Commodities
• Mutual Fund Investment
• IPO Investing

Brokerage Charges

Demate Account Opening Fees: INR300

2. Upstox

Upstox is one of India’s leading discount brokers that offers low-cost trading. It is known for its user-friendly platform, which supports trading in stocks, commodities, currencies, and mutual funds. Upstox charges zero brokerage on equity delivery trades and provides competitive fees for intraday and F&O trades. Upstox is popular for cost-effective and smooth trading experiences with features like charting tools, real-time data, and fast execution.

Top Features of Upstox:

• Low Brokerage Fees: It offer zero brokerage on equity delivery trades and competitive charges on intraday, F&O, and commodities trading.
• Advanced Trading Platform: User-friendly mobile and desktop apps with accurate data, customizable charts, and powerful analysis tools.
• Diverse Investment Options: It offers trading in stocks, mutual funds, IPOs, commodities, and currencies, catering to diverse investment needs.

Pros and Cons

Services Offered by Upstox

• Equity
• Commodity
• Currency
• Mutual fund
• ETF

Brokerage Charges

Demate Account Opening Fees: Zero

3. ICICI Direct

ICICI Direct is a leading full-service best stock broker in India which offering a wide range of financial services, including trading in equities, derivatives, mutual funds, and IPOs. It is known for its reliable platform and incorporation with ICICI Bank. It provides smooth 3-in-1 accounts, combining trading, demat, and banking. ICICI Direct also offers advanced research reports, personalized investment advice, and portfolio management services, providing to both beginners and experienced investors.

Top Features of ICICI Direct:

• Advanced Trading Platforms: ICICI Direct offers a strong trading platform, including mobile apps and desktop versions, with actual market updates, advanced charting tools, and smooth trading experience across equities, derivatives, and mutual funds.
• Research and Advisory Services: ICICI Direct provides detailed research reports, stock recommendations, and expert advisory services, helping investors make informed decisions in the stock market.
• Wide Range of Investment Options: Apart from equities, ICICI Direct offers investment opportunities in mutual funds, bonds, IPOs, insurance, and commodities, providing to a diverse range of investor needs.

Pros and Cons

Services Offered by ICICI Direct

• Equities
• Currency
• Mutual Fund Investment
• IPO Investing
• Fixed Deposits
• Government Bonds
• NCDs
• ETFs
• Loan Against Shares

Brokerage Charges

Demate Account Opening Fees: Zero

4. Motilal Oswal

Motilal Oswal is a full-service and the best broker in India, offering a wide range of financial services including stock trading, portfolio management, mutual funds, and wealth management. It provides valuable market visions and personalized investment advice. The brokerage firm provides to both retail and institutional investors, offering a strong trading platform and excellent customer support.

Top Features of Motilal Oswal:

• Comprehensive Research and Insights: Motilal Oswal is known for its detailed research and analysis, offering market insights, stock recommendations, and sectoral reports. This helps investors make informed decisions and stay updated with market trends.
• Advanced Trading Platforms: It provides a user-friendly trading platform, enabling smmoth online trading across multiple devices. It offers advanced charting tools, technical analysis, and present data for a smooth trading experience.
• Diverse Investment Options: Motilal Oswal offers a wide range of investment products, including mutual funds, commodities, IPOs, and wealth management services, catering to both beginners and experienced investors.

Pros and Cons

Services Offered by Motilal Oswal

• Equity Trading
• Mutual Fund Investment
• Portfolio Management Services (PMS)
• Commodity Trading
• Insurance Solutions

Brokerage Charges

Demate Account Opening Fees: Zero

5. Axis Direct

Axis Direct is the best broker for trading in India offered by Axis Securities, part of the Axis Bank Group. It provides a range of investment options which is including equity, mutual funds, derivatives, and commodities. It is known for its user-friendly trading platform, Axis Direct offers research-based recommendations, personalized advice, and seamless online trading. It caters to both beginners and experienced investors looking for a comprehensive investment solution, with competitive brokerage charges and a strong reputation for customer service.

Top Features of Axis Direct:

• Comprehensive Investment Options: Axis Direct offers a wide range of investment products, including equities, mutual funds, derivatives, commodities, and fixed deposits, allowing investors to diversify their portfolios.
• User-Friendly Trading Platform: The platform provides an easy-to-find interface for online trading, with advanced tools, real-time market data, and smooth execution for both beginners and experienced traders.
• Research & Advisory Services: Axis Direct offers expert research reports and personalized investment advice to help investors make informed decisions and maximize returns.

Pros and Cons

Services Offered by Axis Direct

• Equity Trading
• Derivatives Trading
• Mutual Fund Investments
• Portfolio Management Services (PMS)
• Commodities Trading
• Fixed Deposits
• Research and Advisory Services
• Tax Saving Investments
• IPO Investments
• Margin Trading

Brokerage Charges

Demate Account Opening Fees: Zero

6. m.Stock

mStock is a mobile-based best stock broker app that offers a smooth experience for investors to trade in stocks, commodities, and derivatives. It provides low-cost brokerage services, making it an attractive choice for active traders. With advanced charting tools, real-time market data, and easy access to research, mStock aims to let investors with the right tools to make informed decisions. The app is designed for both beginners and experienced traders, offering simplicity, speed, and efficiency in executing trades.

Top Features of m.Stock:

• User-Friendly Interface: mStock offers an intuitive and easy-to-navigate mobile app, making it simple for both beginners and experienced traders to execute trades and manage investments.
• Low Brokerage Charges: mStock provides cost-effective brokerage fees, making it an appealing option for active traders looking to minimize transaction costs.
• Real-Time Market Data & Research: The platform offers real-time market updates, advanced charting tools, and research reports to help users make informed investment decisions.

Pros and Cons

Services Offered by m.Stock

• Equity Trading 
• Derivatives Trading (Futures & Options) 
• Commodity Trading 
• Currency Trading 
• Mutual Fund Investments 
• IPO Applications 
• Research and Advisory Services 
• Advanced Charting Tools 
• Portfolio Management Tools 
• Real-Time Market Updates

Brokerage Charges

Demate Account Opening Fees: INR 999

7. Anand Rathi

Anand Rathi is a financial services provider and biggest stock broker in India, offering a wide range of services including wealth management, investment banking, stockbroking, insurance, and advisory solutions. Established in 1994, the company offers to individuals, corporations, and institutions, helping clients achieve financial growth through innovative strategies and expert insights. Anand Rathi combines advanced technology with personalized service to deliver comprehensive financial solutions.

Top Features of Anand Rathi:

• Comprehensive Capital Management: Anand Rathi offers tailored capital management services that help clients grow and preserve their assets with personalized financial planning and expert investment advice.
• Diverse Investment Options: The platform provides access to various investment opportunities, including equities, mutual funds, fixed-income products, commodities, and insurance solutions.
• Advanced Trading Platforms: Anand Rathi offers user-friendly and technology-driven trading platforms with accurate market data, research reports, and analytical tools for seamless and efficient trading experiences.

Pros and Cons

Services Offered by Upstox

• Stock Trading
• Mutual Funds
• Futures & Options (F&O)
• Commodity Trading
• Currency Trading
• IPO Investments
• Digital Gold
• ETFs (Exchange-Traded Funds)
• Smallcase Investments

Brokerage Charges

Demate Account Opening Fees: Zero

8. Groww

Groww is the best stock broker in India that simplifies financial management. It offers a range of services, including mutual funds, stocks, fixed deposits, and UPI-based payments, all through a seamless mobile app and website. Groww caters to both beginners and experienced investors, with features like detailed market insights, easy KYC, and zero paperwork. Its clean interface and educational resources make investing accessible for everyone, empowering users to grow their wealth effectively and confidently.

Top Features of Groww:

• User-Friendly Interface: Groww provides a clean and intuitive platform that makes investing in mutual funds, stocks, ETFs, and FDs easy, even for beginners.
• Comprehensive Investment Options: Users can explore multiple financial instruments like stocks, mutual funds, fixed deposits, and UPI-based payments, all in one app.
• Detailed Market Insights: Groww offers educational resources, market updates, and analytical tools to help users make informed investment decisions confidently.

Pros and Cons

Services Offered by Groww

• Mutual Funds 
• Stocks 
• Exchange-traded funds (ETFs) 
• Fixed Deposits (FDs) 
• UPI Payments 
• Initial Public Offerings (IPOs) 
• Digital Gold

Brokerage Charges

Demate Account Opening Fees: Zero

9. 5Paisa

5Paisa is a top discount broker in India, offering seamless and affordable trading, investing, and financial services. It provides a wide range of options, including stocks, mutual funds, insurance, and loans. 5Paisa ensures a hassle-free experience for beginners and experienced investors alike with its user-friendly mobile app and website. Its cost-effective plans, research tools , andservices make it a popular choice for individuals looking to grow their wealth efficiently and transparently.

Top Features of 5paisa:

• Low Brokerage Charges: 5Paisa offers affordable and transparent pricing with its flat-rate brokerage plans, making it an attractive choice for budget-conscious traders.
• Advanced Trading Tools: The platform provides a range of tools for research, analysis, and investment, including real-time market data, charting tools, and expert recommendations.
• Robo Advisory Services: 5Paisa’s automated advisory services help users with personalized investment strategies based on their financial goals, making investing easier for beginners.

Pros and Cons

Services Offered by 5paisa

• Stock Trading
• Mutual Funds
• Insurance
• Loans
• Robo Advisory
• Demat Account Management
• Mobile and Online Trading Platforms

Brokerage Charges

Demate Account Opening Fees: Zero

10. Kotak Securities

Kotak Securities is the largest stock broker in India that offers a wide range of investment solutions, including equity trading, mutual funds, derivatives, and more. As a subsidiary of Kotak Mahindra Bank, it provides online trading platforms, research reports, and investment advice to retail and institutional investors. Kotak Securities is known for its reliable customer service, user-friendly technology, and low brokerage charges, making it a popular choice for individuals.

Top Features of Kotak Securities:

• Advanced Trading Platforms: Kotak Securities offers strong online platforms, including the Kotak Stock Trader app and web platform, providing smooth trading experiences with actual market updates, research, and advanced charting tools.
• Comprehensive Research & Insights: The firm provides detailed market analysis, stock recommendations, and expert insights, helping investors make informed decisions.
• Low Brokerage Charges: Kotak Securities offers competitive and transparent brokerage rates, catering to both beginners and experienced traders, making it cost-effective for frequent traders.

Pros and Cons

Services Offered by Kotak Securities

• Equity Trading
• Derivatives Trading
• Mutual Fund Investments
• IPO Investments
• Margin Trading
• Portfolio Management Services (PMS)
• Research and Advisory
• Investment Advisory
• Tax Saving Investments
• NRI Trading Services

Brokerage Charges

Demate Account Opening Fees: Zero

How to Choose the Best Stock Broker In India?

Low Brokerage Fees: When selecting a broker, compare the brokerage fees. Look for the best stock broker app that offers competitive charges, especially if you trade frequently. Low brokerage costs can enhance your profits in the long run.

Trading Platform Features: Ensure the broker provides a user-friendly platform with advanced tools and features. The best stock broker app should have real-time data, charting tools, and fast order execution to aid effective trading.

Research & Advisory Services: The top brokerage firm should offer comprehensive research, expert recommendations, and market analysis. These tools help you make informed decisions and stay ahead in the stock market.

Customer Support: A top stock broker in India must offer reliable and accessible customer support. Look for brokers that provide multiple communication channels and responsive service to address issues promptly.

Regulatory Compliance & Security: Ensure the broker is registered with SEBI and follows strict security protocols. The biggest stock broker in India should guarantee your investments are safe and compliant with regulatory guidelines.

How to Open a Demate Account?

1. Choose a Broker: Research and select a top stock broker in India that suits your needs based on brokerage charges, platform features, and customer service.
2. Fill out the Application Form: Visit the broker’s website or branch and complete the Demat account application form. You may also be required to provide KYC (Know Your Customer) documents.
3. Submit KYC Documents: Provide necessary identification documents such as Aadhar card, PAN card, address proof, and passport-size photographs. Some brokers allow online KYC verification for faster processing.
4. Sign the Agreement: Review and sign the agreement with the broker that outlines the terms and conditions of using the Demat account.
5. Account Activation: After verification of your details, the broker will activate your Demat account. You’ll receive account details, allowing you to start trading and investing in stocks.

Best Stock Brokers and Their Trading

Conclusion

The selection of the best stock broker in India depends on factors like low brokerage fees, advanced trading platforms and accurate customer services. You need to consider the top stock brokers in India offering transparent charges, quality tools and regulatory compliance. as it ensures you to have secure and efficient trading experience. Researching and comparing options will help you find the best fit for your investment goals.

FAQs

1. What is the best stock broker in India for beginners?

The best stock broker for beginners is one that offers user-friendly platforms, low brokerage charges, and good customer support. Brokers like Zerodha, Upstox, and Anand Rathi are popular choices due to their ease of use and cost-effective services.

2. How do I choose the best stock broker app?

When selecting the best stock broker app, look for a platform with a simple interface, real-time market updates, fast order execution, low fees, and solid customer support. Also, check if it offers advanced tools for research and analysis.

3. What fees are charged by the best stock brokers

Brokerage fees can vary depending on the broker, but the best stock brokers offer competitive and transparent charges. Many top brokers, like Zerodha and Upstox, offer flat-rate or low percentage-based brokerage fees, making them cost-effective for active traders.

4. Can I open a Demat account online with the best stock broker in India?

Yes, most of the top brokerage firms in India, such as Zerodha, ICICI Direct, and HDFC Securities, allow you to open a Demat account online by completing the KYC process and submitting the required documents electronically.