Top 10 Stock Brokers in India 2024
If you want to invest in the stock market, you must choose an efficient stockbroker. In India, several leading stockbrokers offer diverse services. However, choosing one among the top 10 brokers is not easy.
To help with this, we have created a list of the top 10 stock brokers in India in 2024. It includes their features, pros, and cons. You can compare and pick the best online trading platform.
List of Top 10 Stock Brokers in India 2024
Groww
Shoonya
ICICIdirect
Angel One
5paisa
Zerodha
Sharekhan
Kotak Securities
HDFC Securities
Upstox
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Here are the details of above top 10 stock brokers in India 2024.
1. Groww
Groww is a Bangalore-based online discount broker founded in 2016. It offers flat-fee brokerage services for Equity, IPOs, and Direct Mutual Funds.
You can easily trade with Groww through a web and mobile app.
Pros (Advantages)
Cons (Disadvantages)
Flat Rs 20 per trade brokerage.
Limited investment products with no commodity or currency trading.
Zero account opening fee and no Demat AMC charges.
Absence of call-and-trade services, stock tips, or research reports.
Instant account opening and online IPO application.
No branch support, margin trading, or margin against shares.
Direct Mutual Funds platform offering additional returns.
Advanced order types like BO, CO, AMO, and GTT are not available.
Option to invest in digital gold and SME Shares.
No NRI Trading or SME IPOs.
2. Shoonya
Standing ranks 2nd among the top 10 stock brokers in India. It is an ideal platform with lifetime zero-brokerage, an intuitive interface, and diverse investment options.
If you are an advanced trader, you can benefit from features like Option Chain trading and TradingView charts.
Now, open a free demat account with zero AMC charges!
Pros
Cons
Zero brokerage across all trading segments, ensuring cost-effective trading.
Lack of a 3-in-one account option.
Lifetime free demat account
Absence of margin funding services.
Advanced trading tools and technical indicators for a seamless trading experience.
Zero AMC and AI-powered stock market predictions
3. ICICIdirect
ICICIdirect, ranked 3rd among the top 10 stock brokers in India, offers integrated 3-in-1 accounts. You can trade across major exchanges like BSE, NSE, and MCX. This online broker offers you access to IPOs, Mutual Funds, and Fixed Deposits.
Pros (Advantages)
Cons (Disadvantages)
Integrated 3-in-1 Account for seamless transactions.
Relatively high standard brokerage fees.
Direct Management of Accounts within the ICICI ecosystem.
Minimum brokerage charges are applicable under certain plans.
Diverse Investment Options, including IPOs and Mutual Funds.
Flat brokerage on penny stocks.
Dual Exchange Trading on BSE and NSE for wider investment choices.
Charges for call & trade services.
4. Angel One
Angel One, a full-service retail broker, stands in 4th position among the top 10 brokers in India.
The Angel One provides a unified trading app for seamless trading and investing in various securities.
Pros (Advantages)
Cons (Disadvantages)
Full-service brokerage at low fees.
Margin funding practices may confuse.
A flat fee of Rs 20 per order across all segments.
No trading in SME shares.
Margin trading and collateral facilities are available.
GTC/GTT orders are not available.
Free advisory and tips for stocks and mutual funds.
Does not offer a 3-in-1 account.
5. 5paisa
5paisa stands in 5th position on the list of top 10 stock brokers in India.
With this broker, you can trade in equity, commodity, and currency across BSE, NSE, and MCX.
Pros (Advantages)
Cons (Disadvantages)
Flat Rs 20 per trade brokerage fee
Margin funding can be confusing for customers
Comprehensive research and advisory services
High demat debit transaction charges
Free account opening with limited-time offers
Higher exchange transaction charges
A multi-product platform covering various investment options
Call & Trade services come with an additional cost
Free mutual fund account opening
No NRI trading services
Multilingual trading app
No 3-in-1 account offering
6. Zerodha: India’s Largest Stock Broker
Zerodha is one of the top 10 stock brokers in India, known for its flat fee discount brokerage services. It allows you to trade in a range of options, including equity, currency, commodity, IPOs, and more.
What’s more?
It comes with a strong focus on user-friendly platforms and low-cost trading.
Pros (Advantages)
Cons (Disadvantages)
Access to comprehensive educational resources
No 3-in-1 account offering
Low-cost trading with flat brokerage fees
Charges for physical contract notes
Innovative trading platforms with advanced features
No research and advisory services
Direct mutual fund investments through the Coin platform
Limited offline presence
7. Sharekhan
Sharekhan, established in 2000, is 7th among the top 10 stock brokers in India. It is a full-service stockbroking firm offering online trading and investment services.
With Sharekhan, you can trade in equities, derivatives, currencies, commodities, IPOs, mutual funds, etc.
Pros (Advantages)
Cons (Disadvantages)
Multiple trading platforms for diverse needs
No 3-in-1 accounts
Allows fixed deposits as collateral for trading
Limited commodity trading options for classic account holders
Comprehensive training programs for investors
Charges based on a percentage of securities traded
8. Kotak Securities
Kotak Securities Ltd, a subsidiary of Kotak Mahindra Bank, stands at 8th position on the list of top 10 stock brokers in India. It offers you a way to invest in equities, derivatives, mutual funds, and direct access to US markets.
Pros (Advantages)
Cons (Disadvantages)
Seamless integration of 3-in-1 accounts
Zero brokerage plan applicable only to investors under 30
Low-cost brokerage plans for online trading
High brokerage charges for assisted trading
Extensive branch and franchisee network across India
9. HDFC Securities
HDFC Securities ranks as the 9th largest stockbroker. It offers investments in equities, derivatives, mutual funds, IPOs, currency derivatives, and more. HDFC Securities stands out for its integrated 3-in-1 account combining banking, broking, and demat services.
Pros (Advantages)
Cons (Disadvantages)
Integrated 3-in-1 account for seamless transactions
Relatively high brokerage charges
Diverse investment options across various asset classes
No commodity trading options
User-friendly trading platforms for all levels of investors
Minimum brokerage charges applicable
10. Upstox
Upstox is a low-cost online trading platform in India. It provides trading opportunities across equities, commodities, currencies, futures, and options.
Pros (Advantages)
Cons (Disadvantages)
Low-cost brokerage with a flat-rate pricing model
Charges for stock deliveries
Access to advanced trading tools and platforms
Limited monthly trading plans
Facility for margin trading at competitive rates
No stock tips or recommendations
Direct mutual funds platform for additional returns
Limited customer support hours
Option to invest in digital gold and SME shares
No NRI trading services
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Conclusion
Choosing the right stockbroker depends on your preferences. While some of you may prioritize low-cost trading, others may value comprehensive research and advisory support services. By comparing the characteristics, pros, and cons of the top 10 stockbrokers in India, you can certainly make the right choice.
