In recent times, stock markets have emerged out as a great platform for traders and investors to avail fast appreciation of their investment. Stock markets tend to work in a complex way and it is quite difficult for a normal investor to keep a close check on them. This is why it is necessary to work with a good stockbroker who can make stock market investment a smoother affair.
When it comes to investing in stock markets, the role of stockbrokers becomes paramount as they act as an intermediary between investors and stock markets. In recent times, more people have moved towards stock markets to get attractive returns on their investments. However, in order to get desired outcomes, it is necessary to choose the best trading platform in India and best stock broker who can understand your investment objectives and suggest the best stocks to invest in. For your reference, here are the top 5
stock brokers in India and their brief reviews.
Considered a flagbearer in discount stockbroking, Zerodha is largely a pioneer in the broking landscape. Started in 2010, Zerodha has come a long way with its wide range of products & services. As it strives to innovate with newer plans and technology, the stockbroker gives a solid boost to the typical equity and derivative based trading industry in India.
The name Zerodha is made up of English word ‘Zero and the Sanksrit ‘Rodha’ (Barrier). Zerodha carries a vision to break all barriers that different traders and investors encounter in the country’s economic scenario.
No. of active clients- 3391059
- Competitive brokerage
- 5 times exposure for most stocks
- Up to 40 times margin is permissible for F&O stocks
- Max 20 Rs. Brokerage for any trade across BSE, NSE, and MCX
- No upfront charges
- Primarily a technology-based trading platform with negligible physical exposure
- Non availability of research and advisory so far
Upstox is primarily a great choice for traders. It is known to have the peppiest trading platforms that make it easier for traders to trade in stock markets. The stock broker is a mixed entity started by Kalaari Capital, Ratan Tata and GVK Davix. Upstox offers a totally free trading account and free trading in the Equity Delivery segment. Trading in Equity F&O, Equity Indra-day, Commodities and Currency Derivatives can be availed through Upstox Pro. UpStox Pro is available under the paid subscription of UpStox for traders.
No. of active clients- 1960861
- Free brokerage for trading in Equity Delivery segment
- Trailing-Stop/Stop-Loss (SL) is available in both web and mobile.
- Online IPO Application (UPI) is available.
- Various indicators to examine markets on-the-go
- 1000’s of Mutual Funds to invest in
- Non availability of margin funding
- Call and trade fee is charged at extra Rs 20 per executed order
- No unlimited monthly trading plans
- Doesn’t give stock tips or recommendations
- No 24/7 customer service
- Angel Broking Review
One of the oldest and best stock brokers in India, Angel Broking was conceptualized by Mr. Dinesh Thakker. Today, it is headquartered in Mumbai and has a wide network of more than 8500 sub brokers across the country.
The leading stock broker in the country has come up with a new plan – Angel iTrade Prime Plan which levies zero brokerage for trading on equity delivery and flat Rs. 20 brokerage for equity intraday, equity futures, equity options, currency futures/options, and commodity options/futures.
No. of active clients- 1454167
- A trust stock broker in India
- Next-gen trading platforms
- ARQ-based new investment carrier
- Widest network of sub brokers and franchises
- Skilled research analysts providing insightful reports and tips
- Minimum Rs 30 brokerage regardless of investment size
- No availability of brokerage calculator
- Axis Direct
Axis Direct is the broking subsidiary of the Axis bank group and was started way back in the year 2005. The broking product range is comprised of institutional and retail equity, derivatives, depository participant services, online trading and a wide assortment of third-party distribution products. It allows its customers to trade in Mutual Funds, IPO, NSE and BSE in the segment like Equity Cash, Equity Derivatives with nearly 75 branches across India.
No. of active clients- 439273
- 3-in-1 account, an integrated trading, demat, and bank account
- Detailed market research reports
- Quick and reliable trading platform
- Live Chat customer support
- No support for commodity segment
- Very less exposure
- Higher brokerage
- Chargeable trading terminal
- Groww Review
Launched by the previous Flipkart employees, Harsh Jain, Lalit Keshre, Ishan Bansal, and Neeraj Singh, Groww was brought in 2017 and considered the fastest-growing investment platform in India. The most interested thing about this investment platform is that investors can invest directly in mutual funds, start SIP for free with zero commission, and also track invested mutual funds.
No. of active clients – 780570
- Investment via UPI
- Bank-grade security features
- Custom-made investment options
- maximum brokerage per trade is Rs 20
- Option to invest in US Stocks, Digital gold, and Corporate FD
- Limited investment offerings
- No Call and Trader service
- Non-availability of stock-related tips and reports
- No margin trading feature
- No physical support
- No NRI trading
- What is KYC and eKYC?
KYC – Know Your Customer, is a procedure to get your identity. This is a paper-based verification system generally used when you open a Bank account or Stock Broker account. eKYC – Electronic Know Your Customer, is a paperless Aadhaar based process for fulfilling your KYC requirements to start investing in Mutual Funds. SEBI has recently permitted Aadhaar-based KYC to be used for MF investment.
2. What are stockbrokers?
Stockbrokers are articles through which an investor or a trader can buy or sell stocks. The term stock broker can be implied for a person as well as an organization.
3. Who controls the functioning of stock brokers in India?
The stock broker also has detailed information of all the rules and regulations given by the Securities and Exchange Board of India (SEBI) and helps to keep the client’s investments and transactions in compliance with all the applicable regulations.
- How can I use an Online Broker?
An online broker is a financial center for your investments. You can choose to manage your stocks, ETFs, mutual funds, cash balances, and other investment needs with a single login. All online stock brokers on this list lend you the ability to manage your account on the web or with a convenient mobile app.