9 Best Stock Brokers in India in 2021

The best stockbrokers in India have been listed on the basis of full value brought to the table in terms of quality of service, brokerage rate, trading products offer, margin, offline support etc.

However, finding out whether this stockbroker works best for you out of the total 300+ stockbrokers in India is easy to say.

Every stockbroker executive who calls you will position himself as the best stockbroker in India. Because that is their job.

But, you need to be cautious while choosing a stockbroker for yourself. You should do it by looking at different profit and loss, compare stockbrokers and then choose one.

Let us explore the best stock brokers in India based on all the above aspects and other related areas which are important for you to choose a stockbroker.

Reviews of Top Share brokers in India

The Indian stock broking market is highly scattered with the presence of many stock trading companies. To become India's top stock brokers company, each stock trading company tries to differentiate on several parameters such as:

• Brokerage/Commission,
• Market Tips and Research Reports
• Customer base form
• Trading platform
• Customer service
• Trading product range
• Exposure
• Company presence
• Pan India Offline Attendance etc.
• Angel Broking, Sharekhan, Zerodha, India Infoline etc. are some of the names of the top stock brokerages in the retail share trading industry.

If you are a beginner or a small investor, you can go through this detailed article on how to open a demat account.

From a consumer point of view, they need growth. The consumer has entered the market to earn a return on his investment and that is why the choice of a broker or a stock trading company is a very important decision that he has to make.

How to find a best stock broker in India?

Before opting for the best stock broker in India, a client should understand a few things that can help him choose that option:

Are you a trader or investor?

This question can help you decide on the fundamental fundamentals of trading.

In the stock market world, if you want to make quick profits and results in minutes, hours or days – you are basically an investor.

Thus, you are doing more number of transactions on a regular basis or on the other hand you are investing your money in the market on some trustworthy stocks and then long term (for example 6 months, 2 years, 10 years etc.) If you buy then you are an investor.

What does a potential trader or investor look for in a stockbroker?

When you choose to invest or trade in the stock market, your expectations from the stockbroker increase, especially if it is one of the best stockbrokers in India, such as:

Once you create an option whether you are a trader or investor, you have a list of expectations from your stockbroker, such as:

• reasonable brokerage fee
• high performance trading platform
• No or low account opening or annual maintenance fee
• Array of trade and investment products
• customer service
• Extensive offline presence through sub-broker and franchise network
• Accurate market tips and advice
• Initiative on Trade and Investment Education
• Integrated trade and bank account
• High exposure or leverage in the trading segment
• Fund transfer without any hassle

How to check the credibility of a share broking company?

Share among consumers should not be influenced by the branding or market image created by the trading company. Do a detailed and thorough investigation before choosing an option.

Visit the website of SEBI to get views on some of the reputed stock trading companies. Talk to people who are experienced in trading/investing with a stockbroker and learn from their experience.

Check out what the company offers, their trading platforms, their regular research reports, brokerage, customer support, experience and more.

Do a secondary research on the Internet and see what past customers have to say about the company. Use some caution here, as some comments may be bogus.

Here are some of the stock trading companies in India, which have shown great performance in the last 2-3 years and are challenging each other in technology, customer service and product innovation.

List of Best Stockbrokers in India

Here are the details of the best stockbrokers in India along with the purpose behind placing them in this list.

Sharekhan

Sharekhan is one of the oldest best-brokers for online share trading in India. Although it has recently been sold to BNP Paribas for 2200 crores, there has been no change in the way it works.

Sharekhan has promoted this brand equity built over the last 16 years and has launched several trading platforms to grow its client base.

1) Active Client : 5,08,107

2) Total complaints: 0.05%

3) Free Tips: Yes

4) Performance of the trading platform: Good

Its online platforms include Trade Tiger, Share Mobile and Sharekhan Classic.

Sharekhan ranks second in the Indian stock market industry and has a presence in more than 675 cities in India. They charge a fee of 0.015% to 0.1% depending on the margin money scheme availed by the customer. From Sharekhan customers Rs. 750 for opening an account and Rs. 441 AMC charges.

If we look at the drawbacks associated with Sharekhan, it is their high brokerage, which is generally of all full-service stockbrokers.

ICICI Direct

ICICI Direct enjoys a good amount of brand equity through its ICICI Banking services. This brand equity helps in bringing in a high level of customer base at a lower cost. Due to its high brand value, ICICI charges higher charges from the user for the simple reason of 'trust factor'.

Active Clients: 8,70,070

Total complaints: 0.025%

Free Tips: Yes

Trading Platform Performance: Good

It levies a commission fee of 0.5% for intra-day and 0.75% for delivery. ICICI opens a demat account for Rs 975, while charges Rs 500 as AMC. At the same time, it offers USPs like 3-in-1 trading account, classroom program to learn stock market, seamless integration with its trading platform etc.

You can check this ICICI Direct Brokerage Calculator for reference.

ICICI has a total customer base of 2.6 lakhs with 200 branches in 87 cities. It offers 'Trade Racer'. It provides 'Trade Racer' for its clients to trade online. 'Trade Racer' provides marketwatch, streaming quotes, advanced charting and fast buying and selling of shares.

HDFC Securities

HDFC Securities is a full-service share trading company with the advantage of brand equity acquired through banking services. However, HDFC Securities offers its own unique 4-in-1 trading account.

This allows customers to seamlessly transfer funds and securities within their savings, demat and trading accounts.

Active Clients: 6,58,668

Percentage Complaint: 0.001%

Free Tips: Yes

Trading Platform Performance: Average

HDFC Securities has been around for more than 15 years and has a high coverage with more than 200 branches. HDFC has a desktop as well as mobile trading applications.

HDFC Securities is known for its research reports and accuracy of stock trends, market volatility and industry dynamics.

HDFC charges 0.5% brokerage commission, Rs 999 for opening a demat account and Rs 550 as AMC

You can check this HDFC Securities Brokerage Calculator for reference.

India Infoline (IIFL)

India Infoline or IIFL is one of the leading full-service full-service stockbrokers in India. They have recently introduced a discount stockbroking as 5 paisa. India Infoline is primarily known for its extensive offline presence in North India.

IIFL gives due importance to research and provides suggestions, recommendations regularly to its clients.

You can check this IIFL Brokerage Calculator for reference.

In addition, it is placing a lot of emphasis on its trading platform IIFL Markets, which is their primary trading platform.

Established in the year 1995, IIFL has a wide offline presence through 4000 sub-broker and franchise branches. IIFL charges its clients Rs 750 for opening a trading account and Rs 555 for opening a demat account. It charges Rs 300 as 'Annual Maintenance Charges' on a yearly basis.

IIFL has a number of options when it comes to brokerage plans, IIFL offers a range of options to its clients who can choose any plan based on their trading segment.

Some of the drawbacks faced by IIFL include average customer service and clients not investing in mutual funds through IIFL. Moreover, IIFL is definitely one of the best stockbrokers in India.

5 paisa

5Paisa is a leading discount stock broker in India backed by IIFL (India Infoline). It was launched a few years back. It was then set up as a separate entity and also listed on the stock market. It is located in Mumbai.

It offers one of the lowest brokerage charges in India, Rs 10 per executed order. Also, in terms of trading platform – 5Paisa offers a well performing mobile app, web-based browser application, trade station and a terminal software. Due to the support from IIFL, it is definitely a reliable broker.

You can check this 5Paisa brokerage calculator for reference.

The biggest advantage of opening an account with this is that despite being a discount stockbroker, 5Paisa provides free tips and recommendations to its clients on a regular basis.

No discount stockbroker provides this facility. For opening an account with 5Paisa, the account opening fee is ₹250 and the AMC (Annual Maintenance Charge) is ₹200.

The first 5 trades with 5Paisa are free and no brokerage fees are charged. Additionally, if you start with a capital of Rs 25,000 or more, there are no AMC and account opening charges. Check out 5 paise offers here!

Motilal Oswal

Motilal Oswal or MOSL with its establishment in 1987 is one of the oldest full-service stock broking house in the country. They are primarily looking at institutional securities, but have recently shifted to retail stockbroking.

Active Clients: 3,25,585

Total complaints: 0.01%

Free Tips: Yes

Trading Platform Performance: Good

Motilal Oswal also comes under the category of expensive stock brokers but recently they have introduced many brokerage plans.

With various options, this option requires the consumer to pay a brokerage fee along with MOSL charges ₹1000 as trading account opening fee and ₹441 as demat account annual maintenance fee.

You can check this Motilal Oswal Brokerage Calculator for reference.

Motilal Oswal has made some innovations in Motilal Oswal Genie customer care wherein customers can directly get answers to some of their basic queries through an automated bot.

Furthermore, MOSL is well known for its wide range of trading applications for mobile, web, desktop and even smartwatch applications!

Zerodha

Zerodha was one of the first discount stock brokers in India, established in 2010. Like other high-volume investors and traders, Nitin Kamath, CEO of Zerodha also had to worry about paying high brokerage charges to the stockbroker.

Active Clients: 9,60,992

Total Complaints: 0.06%

Free Tips: No

Trading Platform Performance: Good

Whether they spent most of their time in establishing their technical and fundamental analysis in stocks, or a large portion of the profits earned were taken by full-service stockbrokers. With Zerodha, he did away with this concern as Zerodha works on a flat rate brokerage model.

Zerodha today is known for its amazing digital initiatives and product innovation, giving them the distinction of being the first digital-share trading company in India. Zerodha offers various trading platforms such as Zerodha Kite Web, Kite Mobile, Zerodha Pie, Kite Connect API Zerodha Mutual Fund etc.

They have also tried to ensure that customers engage and learn with their product 'Zerodha Varsity'. Varsity is a complete learning web app that guides a beginner investor on the basics of investing and trading in the stock market.

₹20 per transaction on intra-day and no charges for equity delivery at Zerodha. Like the discount broking method, they do not charge you any other commission charges irrespective of the volume or size of your transaction. It charges only ₹ 200 when you open a Zerodha Demat account.

You can check this Zerodha Brokerage Calculator for reference.

Zerodha, however, does not allow you to invest in IPOs and its customer service is one area that still lacks experience.

Angel Broking

Angel Broking is a well known full-service share trading company and is in existence since last 29 years. Established in 1987, Angel Broking is present in 1000+ cities of India with more than 8500 sub-brokers.

Angel Broking charges commission charges ranging from 0.01% to 0.4%, depending on the margin money deposited initially. They open the demat account free of cost while charging an annual maintenance fee of Rs.300.

They have various online trading platforms like Angel Broking Trade, Angel Broking App and Angel Speed ​​Pro Angel Broking runs various offers for the clients at different times of the year.

Angel Broking is coming in as instant inspiration in many digital aspects lately and recently, they came up with a concept of ARQ, which is an engine which basically generates billions of data collected from 20+ years of past Predicts the future performance of the stock by going through the points

Angel Broking, among other aspects, also provides market suggestions, research and recommendations at both technical as well as fundamental level.

However, only an average customer service is one of the drawbacks of using Angel Broking's mobile app.

Kotak Securities

Kotak Securities is another bank based stockbroker which offers 3-in-1 Demat account allowing you to cash in on high brand equity availed through its banking services. Kotak Securities, with its 1200 branches in 360 cities of India, offers large offline network services like Angel Broking and India Infoline.

Active Clients: 4,35,815

Total complaints: 0.05%

Free Tips: Yes

Trading Platform Performance: Good

It continues to focus on technology and its trading platforms across devices are among the highest performing trading platforms in India. To go along with the different trading softwares, Kotak Securities provides some technical tools so that the user can perform technical analysis.

It gives the facility of Kotak Securities Call and Trade to its valuable.

Opening a trading account with Kotak Securities charges a fee of ₹750 and a maintenance fee of ₹600, which is paid monthly at ₹50.

As far as brokerage is concerned, Kotak Securities has a variety of plans – including fixed percentage brokerage plans (which are usually expensive) and also plans based on subscription charges.

 Kotak Securities works well for heavy-duty investors who need help with technical and fundamental analysis.

You can check the detailed understanding of brokerage plans here or Kotak Securities Brokerage Calculator.

It is said that Kotak Securities is one of the expensive stock brokers when it comes to brokerage.

The share trading industry requires your time and effort apart from the monetary investments that you make as an investor.

Be aware of the various offers your stock trading company opens up to you and understand very well how to be better than the competition.

If you want to gain a thorough understanding and knowledge from the research team, be sure to know what the level of their researchers is. Is he a regular presence on trading channels, among other things?

If you want to trade in the stock market, start with discount brokers as you will know how much money is at stake in making transactions.