The India stock market has grown rapidly over the past few years attracting millions of investors. The stock broker is a financial service provider who buys and sells the stock for you. So, it is important to find the best stock broker in India for successful trading and investments. Whether you are a beginner or an expert trader, you need to find a broker that can help you meet your financial goals. Moreover, there are many leading stocker broker companies like Zerodha, Upstox, Angel One and more that provide the best facilities. They offer various benefits like low brokerage fees, a user-friendly interface and smooth mobile trading. In this guide, we will discuss about the best stock broker companies which you can choose from.
List of Top 10 Stock Brokers in India
| Stock Broker | Rating | Charges |
| Zerodha | 4.0/5 | INR 0 brokerage, Flat ₹ 20 or 0.03% per intrada Brokerage |
| Upstox | 4.5/5 | ₹20 per executed order |
| ICICI Direct | 4.5/5 | 0.20% for delivery, 0.02% for intraday Brokerage |
| Motilal Oswal | 4.1/5 | 0.20% for delivery, 0.02% for intraday Brokerage |
| Axis Direct | 4.1/5 | 0.25% for delivery, 0.03% for intraday Brokerage |
| m.Stock | 4.2/5 | INR 0 for both delivery and intraday brokerage |
| Anand Rathi | 4.3/5 | 0.20% for delivery, 0.02% for intraday Brokage |
| Groww | 4.7/5 | 0.1% for both delivery and intraday brokerage |
| 5paisa | 4.3/5 | INR 20 for both delivery and intraday brokerage |
| Kotak Securities | 4.4/5 | 0.20% for delivery and INR10 for intraday Brokage |
What are the Different Types of Stock Brokers?
There are two main types of stock brokers:
Full-Service Brokers
The full service brokers are traditional brokers who invest your money on your behalf. They also provide a wide range of services such as investment advice, tips based on financial knowledge and other services. Moreover, they charge the investors a commission from their earnings.
Discount Brokers
Discount brokers are those who buy and sell stocks from investors at low commissions. They generally do not provide any investment advice and stock analysis for the client. Typically, discount brokers carry out orders at less cost and mostly just execute orders for their clients.
1. Zerodha
Zerodha is the best stock broker that offers online investment and trading solutions at low costs. It is the second largest stocker brokers with low brokerage fees and user-friendly services. It also offers Zero brokerage for equity delivery trades and flat INR 29 per order for intraday. Zerodha have their mobile application that provides advanced tools for trading and mutual funds.
Top Features of Zerodha:
- Zerodha offers zero brokerage on equity delivery trades
- It charges a flat INR20 per order for intraday, futures, and options.
- Kite provides a smooth experience with advanced charting tools
- Zerodha supports trading in equities, derivatives, mutual funds
Pros and Cons
| Pros | Cons |
| Practical broker fees | No Stock Tips or Research Reports |
| Advanced trading tools | Limited customer support |
| A range of goods and services | Slow Account Opening |
Services Offered by Zerodha
- Equities
- Currency
- Commodities
- Mutual Fund Investment
- IPO Investing
Brokerage Charges
| Segment | Charge |
| Delivery | ₹ 0 |
| Intraday | 0.03%, whichever is less per order. |
| Futures | 0.03%, whichever is less per order. |
| Options | ₹20 per executed order |
Demate Account Opening Fees: INR300
2. Upstox
Upstox is a leading discount brokers in India that provide low cost trading services. It charges zero brokerage on equity delivery trades and provides competitive fees for intraday trades. Upstox is best for cost-effective and smooth trading experiences with features like accurate data, fast performance and charting tools.
Top Features of Upstox
It provides zero brokerage on equity delivery trades
Offers competitive charges on intraday, F&O and commodities trading
Provide user-friendly mobile and desktop apps with correct data
Pros and Cons
| Pros | Cons |
| Best trading broker | No Stock Tips or Research Reports |
| Affordable Brokerage Fees | No margin funding offered in Delivery |
| User-Friendly And Intuitive Trading Platform | Chargeable call and trade option |
Services Offered by Upstox
- Equity
- Commodity
- Currency
- Mutual fund
- ETF
Brokerage Charges
| Segment | Charge |
| Delivery | ₹20, whichever is lower per executed order |
| Intraday | 0.05%, whichever is lower per executed order |
| Futures | 0.05%, whichever is lower per executed order |
| Options | ₹20 per executed order |
Demate Account Opening Fees: Zero
3. ICICI Direct
ICICI Direct is the largest retail stockbroker in India with over 18 lakhs active users. It offers a various range of financial services which include trading in equities, derivatives and mutual funds. It provides its users 3 in 1 account, combining trading, demat and banking. Moreover, ICICI Direct provide a platform to both expert and beginner investors.
Top Features of ICICI Direct:
- ICICI Direct offers a strong trading platform, including mobile apps and desktop versions
- Offers actual market updates, advanced charting tools, and smooth trading experience
- ICICI Direct provides detailed research reports, stock recommendations, and expert advisory
- It offers investment opportunities in mutual funds, bonds, IPOs, insurance, and commodities, providing a diverse range of investor needs.
Pros and Cons
| Pros | Cons |
| 3-in-1 Trading Account | Fees for Trading Money Stocks |
| Personalized investment advice | Minimum Brokerage Charge |
| Wide range of financial services | Extra charge for Call Trade |
Services Offered by ICICI Direct
- Equities
- Currency
- Mutual Fund Investment
- IPO Investing
- Fixed Deposits
- Government Bonds
- NCDs
- ETFs
- Loan Against Shares
Brokerage Charges
| Segment | Charge |
| Delivery | 0.55% |
| Intraday | ₹20 per order |
| Futures | 0.05% per order |
| Options | ₹50 per order |
Demate Account Opening Fees: Zero
4. Motilal Oswal
Motilal Oswal is a full-service stock broker in India. It offers a wide range of financial services which includes stock trading, mutual funds and more. It also provides its users with valuable market insights and personalized investment advice.
Top Features of Motilal Oswal:
- It offers detailed research and analysis
- It provides market insights, stock recommendations, and sectoral reports.
- Allow investors to make informed decisions and stay updated with market trends.
- It offers a wide range of investment products, including mutual funds, commodities, IPOs, and wealth management services
Pros and Cons
| Pros | Cons |
| Comprehensive Research & Advisory | Limited Discount Plans |
| User-Friendly Trading Platform | Higher Brokerage Fees |
| Multiple Investment Options | Customer Service Concerns |
Services Offered by Motilal Oswal
- Equity Trading
- Mutual Fund Investment
- Portfolio Management Services (PMS)
- Commodity Trading
- Insurance Solutions
Brokerage Charges
| Segment | Charge |
| Delivery | 0.20% Delivery brokerage |
| Intraday | 0.02% per order |
| Futures | 0.02% per order |
| Options | ₹20 per order |
Demate Account Opening Fees: Zero
5. Axis Direct
Axis Direct is the full service broker which is a part of Axis Bank. It provides a wide range of investment options like equity, mutual funds and commodities. Moreover, Axis Direct provide its users researched based recommendations, personalized advice and smoothing trading. It provides its services to both beginners and experienced investors.
Top Features of Axis Direct:
- Axis Direct offers a wide range of investment products like equities, mutual funds and more
- It provides a smooth implementation for both beginners and experienced traders.
- It offers expert research reports and personalized investment advice
- It helps investors make informed decisions and maximize returns
Pros and Cons
| Pros | Cons |
| Complete Investment Options | Higher Brokerage Fees |
| User-Friendly Platform | Account Maintenance Charges |
| Research and Advisory Services | Limited Online Support |
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
| Segment | Charge |
| Delivery | 0.25% Delivery brokerage |
| Intraday | 0.03% per order |
| Futures | 0.03% per order |
| Options | ₹20 per order |
Demate Account Opening Fees: Zero
6. m.Stock
mStock is the best stock broker app that provides its users with a smooth experience for investors to trade. It also offers its users low-cost brokerage services, which makes it the best choice for expert traders. Moreover, mStock provide advance charting tools, accurate market data and easy market access. It also helps investors to make informed decisions.
Top Features of m.Stock:
- mStocks offers a fast and easy to use mobile app
- It is an appealing option for active traders who want to improve their earnings
- It offers accurate market updates, advanced tools and research reports
Pros and Cons
| Pros | Cons |
| Offers strong security | No Stock Tips or Research Reports |
| Great customer support | Limited availability |
| Offer competitive brokerage | Charge additional fees |
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
| Segment | Charge |
| Delivery | INR0 Delivery brokerage |
| Intraday | INR0 per order |
| Futures | INR0 per order |
| Options | INR0 per order |
Demate Account Opening Fees: INR 999
7. Anand Rathi
Anand Rathi is one of the top 10 stock brokers in India. It offers a wide range of services, such as wealth management, investment banking, insurance, and more. The company helps its clients achieve their financial goals through innovative strategies and expert insights. It also provides its users with advanced technology and personalized services to deliver the best financial solutions.
Top Features of Anand Rathi:
- Anand Rathi provide personalized capital management services
- It also offers personalized financial planning and expert investment advice
- it offers different investment opportunities, such as equities, mutual funds and more
- It provides accurate market data, research reports and analytical tools
Pros and Cons
| Pros | Cons |
| Portfolio management | Higher brokerage charges |
| Offers Online trading options | Limited customer support |
| Offers quick account opening | Equity delivery is chargable |
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
| Segment | Charge |
| Delivery | 0.20% Deliver brokerage |
| Intraday | 0.02% per order |
| Futures | 0.02% per order |
| Options | INR100 per order |
Demate Account Opening Fees: Zero
8. Groww
Groww is the best broker for trading in India that makes it easier for financial management. It offers a range of services like mutual funds, stocks, fixed deposits and UPI. It also has a smooth website and the best stock broker app. However, Groww also offers some features like detailed market information, easy KYC and zero paperwork.
Top Features of Groww:
- Groww provides the best and easy to use platform to their users
- Users can use different financial instruments like stocks, mutual funds and more
- It offers educational resources, market updates and more to its users
Pros and Cons
| Pros | Cons |
| Ease of Use Interface | No Stock Tips or Research Reports |
| Cost-Effective | Limited customer support |
| Diverse Investment Options | No Intraday Margin Trading |
Services Offered by Groww
- Mutual Funds
- Stocks
- Exchange-traded funds (ETFs)
- Fixed Deposits (FDs)
- UPI Payments
- Initial Public Offerings (IPOs)
- Digital Gold
Brokerage Charges
| Segment | Charge |
| Delivery | 0.1% Deliver brokerage |
| Intraday | 0.1% per order |
| Futures | INR 20 per order |
| Options | INR20 per order |
Demate Account Opening Fees: Zero
9. 5paisa
5paisa is the top brokerage firm in India that offers seamless and affordable trading, investing and more. It provides the different range of options which includes stocks, mutual funds, insurance and loans. Moreover, 5paisa provide hassle free experience for beginners and experienced investors. It also provides its users with research tools, cost-effective plans and services which make it a great choice for every investor.
Top Features of 5paisa:
- It offers affordable and transparent pricing with low brokerage
- It provides a range of tools for research, analysis and investment
- It also helps users with personalized investment strategies to achieve user’s financial goals
Pros and Cons
| Pros | Cons |
| Affordable Pricing | Limited Educational Resources |
| User-Friendly Interface | Limited customer support |
| Comprehensive Investment Options | Limited Research Tools |
Services Offered by 5paisa
- Stock Trading
- Mutual Funds
- Insurance
- Loans
- Robo Advisory
- Demat Account Management
- Mobile and Online Trading Platforms
Brokerage Charges
| Segment | Charge |
| Delivery | INR 20 Deliver brokerage |
| Intraday | INR 20 per order |
| Futures | INR 20 per order |
| Options | INR20 per order |
Demate Account Opening Fees: Zero
10. Kotak Securities
Kotak Securities is the best broker for trading in India that offers its users a different range of investment solutions. The option includes equity trading, mutual funds, derivatives and more. Moreover, it also provides online trading platforms, research reports, investment advice and more. It is also known for its reliable customer services, low brokerage charges which makes it a popular choice for investors.
Top Features of Kotak Securities:
- Kotak Securities offers a strong online platform like the Kotak stock trader app and web platform
- It provides smooth trading experiences with actual market updates, research and more
- It provides detailed market analysis, stock recommendations and more
- It also offers competitive and transparent brokerage rates
Pros and Cons
| Pros | Cons |
| User-friendly platform | High margin requirement |
| Low brokerage charges | Limited investment options |
| Comprehensive Research & Analysis | Slow customer service |
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
| Segment | Charge |
| Delivery | 0.20%Deliver brokerage |
| Intraday | INR 10 per order |
| Futures | INR 10 per order |
| Options | INR10 per order |
Demate Account Opening Fees: Zero
How to Choose the Best Stock Broker In India?
- Low Brokerage Fees– When you select a broker you need to compare the brokerage fees. You need to find the best stock broker app that offers competitive charges. Moreover, low brokerage costs can improve your profits in the long run also.
- Trading Platform features– You need to ensure the broker you choose must provide an easy to use platform with advanced tools and features. The best stock broker app must have real-time data, charting tools and fast performance to help best trading.
- Research and Advisory Services– The biggest stock broker in India must offer complete research, expert recommendations and market analysis. These tools help you to make best decision and stay updated in the stock market.
- Customer Support– The best stock brokers in India must offer reliable and best customer support. You need to look for the brokers that offer different communication channels and responsive service.
- Regulatory Compliance and Security– You need to ensure the broker is registered with SEBI and follow strict security rules. The biggest stock broker in India must guarantee your investments are safe.
How to Open a Demate Account?
Here are the following steps you need to follow to open a Demat Account.
- Step1- You need to find and select a top stock broker in India that suits your needs.
- Step2- Open the broker website you have selected and complete the demat account application form. You are also required to provide KYC documents.
- Step 3—Then, provide all the necessary identification documents, such as an Aadhaar card, PAN Card, Address proof, and passport-sized photographs. Moreover, some brokers allow online KYC verification for a fast process.
- Step4- Just review and sign the agreement with the broker that has mentioned all the terms and conditions of using the demat account.
- Step 5 —When the broker verifies your details, your demat account will be activated. Then, you will receive all the account details that allow you to start trading and investing.
Best Stock Brokers and Their Trading
| Best Stock Broker | Trading Charges |
| Zerodha | ₹20/trade |
| Upstox | ₹20/trade |
| Kotak Securities | ₹10/trade |
| Groww | 0.05% or ₹20/trade |
| 5paisa | ₹20/trade |
| Anand Rathi | ₹25/trade |
| Paytm Money | ₹10/trade |
| Samco | ₹20/trade |
| Bajaj Broking | ₹20/trade |
| ICICI Direct | ₹20/trade |
Conclusion
It is not easy to find the best stock broker in India as you need to look about brokerage fees, advanced trading and best customer services. You need to consider those top stock brokers in India offering transparent charges, quality tools and more. Moreover, stock brokers must ensure that you have a secure and efficient trading experience. If you do proper research and comparison you will be able to find the best broker to achieve your investment goals.
FAQs
1. What is the best stock broker in India for beginners?
The best stock broker for beginners are those who offers user friendly platforms, low brokerage fees and good customer support. Here is the list of best stock brokers.
1. Zerodha
2. Upstox
3. Anand Rathi
2. How to Find the best stock broker app?
When you find the best stock apps you need to look for platform with simple interface, accurate market updates, fast working, low fees and more. Moreover, you also need to check whether the app offers advanced tools for research and analysis.
3. What fees are charged by the best brokerage firm in India?
The brokerage fees can depend on the broker but the best stock broker provide competitive and reasonable charges. There are many top broker like Zerodha and Upstox that offer reasonable rate or low percentage brokerage fees.
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.
