Top 5 Stock Brokers in India
At this time, the craze of the stock market is in everyone’s head. In the 20s there were very less online brokers available in India but today you will find many options. When it was not available online, we had to open a Demat account at the post office and it was a very time-consuming process. But now you can easily apply for a Demat account and start investing within 1 or 2 days.
There are a lot of brokers available in India and all of them have different features, but the main thing to keep in mind is the charges, each broker charges a different amount of trading, and investing so we will give you the Top 5 Stock Brokers which has good service with fewer charges.
Top 5 Brockers Name
Contents
1. Angel One
Nowadays, this broker is becoming very popular due to its latest features and interface. It provides trading at a low cost. It allows you to open a Demat account without any charges.
You can invest in stocks, currency, commodities, mutual funds and equities. It provides a quick response and never gets stuck during your trading.
Advantages
- Free tips on ARQ, the Robo advisory app.
- Simple apps and websites for trading.
- Helpful customer service.
- You can trade stocks, mutual funds, and more.
- Affordable trading costs.
- Provides an option to invest in Corporate bonds.
- Offers resources to help you learn about investing.
- No hidden fees.
- Provides market research and analysis.
Disadvantages
- Trading in SME shares isn’t allowed.
- Sometimes customer support is slow.
- GTC and GTT facilities are not available.
- Limited choices for international stocks.
2. Groww
Groww is a popular stock broker in India, especially with young people. It was launched in 2017 and In just seven years, Groww became India’s top stock broker with the most active investors.
Groww also provides learning materials and expert advice to help people understand the stock market. The main reason to rise in the competitive market is the easy interface of the application because there are a lot of menus and options in the other applications but this broker only provides necessary options for easy use.
Advantages
- The app and website are user-friendly and simple to navigate.
- You can invest in mutual funds, stocks, ETFs, and more.
- Generally cheaper than traditional brokers.
- No charges to open an account.
- Offers guides and tools to help you understand investing.
- Includes funds that help with tax savings.
Disadvantages
- The research and analysis tools are not as detailed.
- Some users find customer support slow or unhelpful.
- Some features might only be available on the app, not the website.
- Commodity and Currency trading options are not available on Groww.
- Advanced orders, like cover orders, GTT, brackets, and AMO orders, are not accessible.
3. Zerodha
It is one of the brokers which gives you a good discount. This broker is popular for being user-friendly interface. It offers you zero fees on equity delivery trades.
The platform provides tools to help investors understand market trends and make smart decisions. It was started in 2010 by Nithin Kamath and Nikhil Kamath. With Zerodha, investors can easily trade and manage their investments.
Advantages
- Very affordable trading costs.
- Simple and accessible trading platforms.
- Provides guides and tools to help you learn about investing.
- No hidden charges; you know what you’re paying.
- You can use its fee calculator before taking a trade to know all the fees in detail.
Disadvantages
- It allows NRIs, HUF, and Companies to open a demat account only through an offline process.
- Limited advanced tools for analyzing investments.
- Some users find support slow or not very helpful.
- You’ll need to pay for each trade.
- Not as many choices for certain investments, like international stocks.
- No physical branches are available for in-person help.
- customer support can be delayed, and sometimes software glitches are seen.
4. ICICI Direct
It is a premium stock broker which has a variety of brokerage plans. You can trade on futures without paying extra fees, plus access to extra services.
These extra services vary by plan and might include quick fund withdrawals after selling, special research content, and buy now, pay later options. You can start your trading here without paying any extra amount for opening a Demat account.
Advantages
- Trade stocks, mutual funds, bonds, and more.
- Part of the well-known ICICI Bank group.
- Offers powerful trading platforms with lots of features.
- The best option for placing multiple orders is Basket Order.
- A website with reduced bandwidth for trading from smartphones or slow internet connections is needed.
- Provides detailed research and analysis tools.
- A featured platform named Sensibull for options trading.
- Generally good customer service.
- Easy to transfer funds if you use ICICI Bank.
Disadvantages
- Brokerage and account fees are more expensive.
- The platform can be tricky for beginners.
- Some users experience slow customer service.
- Less free tools compared to some other brokers.
- No access to free mutual fund investments.
5. Upstox
This broker focuses on speed and efficiency for executing your order. This broker is famous for its fast trading services.
It gives you real-time market data and customizable charts to help investors to make good choices. It is a very discount broker which gives you premium features without charging any extra amount.
Advantages
- Simple platforms for trading on mobile and desktop.
- Very affordable trading costs.
- Trade stocks, mutual funds, and more.
- No hidden fees.
- Responsive and helpful customer service.
- Offers resources to help you understand trading.
- Upstox Pro has useful charting tools.
- Early morning news related to the stock market.
Disadvantages
- Limited advanced analysis tools.
- Some users may experience delays in support.
- An extra ₹20 per executed order is charged for Intraday square-off orders when they are not squared off by the customer.
Charges & Customers
| Name | Equity Delivery Brokerage | Equity Intraday Brokerage | Equity Futures Brokerage | Equity Options Brokerage | Customers(as of June 2024) |
| Angel One | Zero | 0.03% | 0.25% | ₹ 20 | 2,07,08,617 |
| Groww | 0.05% | 0.05% | ₹ 20 | ₹ 20 | 1,09,22,660 |
| Zerodha | Zero | 0.03% | 0.03% | ₹ 20 | 76,62,920 |
| ICICI Direct | 0.18% | 0.018% | 0.05% | ₹ 95 | 18,89,905 |
| Upstox | 2.5% | 0.05% | 0.05% | ₹ 20 | 26,62,327 |
Detail Comparison
| Name | Account Opening Charge | Account Maintenance Charge | Equity Delivery Brokerage | Equity Intraday Brokerage |
| Angel One | Free | ₹ 240 (for Non-BSDA) | Zero | 0.03% |
| Groww | Free | Free | 0.05% | 0.05% |
| Zerodha | Free | ₹ 300 | Zero | 0.03% |
| Upstox | Free | Free | 2.5% | 0.05% |
| ICICI Direct | Free | ₹ 700 | 0.18% | 0.018% |
