Invest with the Best: A Look at the Top 10 Stock Brokers in India
With the booming Indian stock market, investments and trading are becoming increasingly popular. However, the crucial first step before entering the stock market is selecting the best broker for trading in India. But how do you make that choice? To simplify your research process, we have compiled a list of the top 10 stock brokers in India. You can compare their fees, features, and offerings to find the best online trading platform for your needs.
In this article, you will read about the top 10 stock brokers in India:
- Groww
- Shoonya
- Choice Broking
- IIFL Securities
- Dhan
- Zerodha
- Angel One
- Upstox
- Alice Blue
- Fyers
Groww| Top Online Stock Broker in India
Groww ranks number one among the top 10 stock brokers in India. Founded in 2016, it aims to simplify investing for everyone, led by former Flipkart employees.
Main Features
- Low brokerage charge of Rs 20 per trade for Equity, Intraday, and F&O trades.
- User-friendly trading app with 128-bit encryption, serving over 90 lakh users.
- Zero-commission direct mutual funds, instant online account opening, and abundant educational resources.
Pricing
- Flat Rs 20 per trade for Equity Delivery, Intraday, and F&O.
- Additional charges include auto square-off fees of Rs 50 and other regulatory charges.
Shoonya| Zero Brokerage Online Trading Platform in India
Shoonya ranks 2nd among the top 10 stock brokers in India. It was launched in 2013 as India’s first trading app with zero brokerage, offering free trading and innovative features.
Main Features
- Zero brokerage across all trading segments, including equity, commodity, futures & options, currency, and mutual funds.
- Advanced trading tools, AI-powered insights, and multi-platform accessibility.
- Awards like the Best Discount Broker Award by Business Today and Best Fintech Startup Award by ET Now.
- Lifetime free demat account
Pricing
- No charges for account opening, maintenance, call & trade, or clearing.
- Zero brokerage on all segments inlcuding, stock, mutual funds, IPOs, ETFs, bonds, commodities, currencies, etc.
Zerodha| Top Stock Broker in India
Zerodha currently ranks 3rd on the list of the top 10 stock brokers in India. It offers transparency and technological advancements.
Trading App with zero brokerage– Download now for seamless trading!
Main Features
- Zero Brokerage for Equity Delivery and Mutual Funds, with a maximum charge of Rs 20 per trade.
- Offers up to 20x leverage on intraday trading and zero-commission Direct Mutual Funds.
- Multiple trading platforms like Zerodha Kite, Coin, and Varsity.
Pricing
- Flat Rs 20 or 0.03% per executed order for Equity Intraday, Futures, Options, Currency, and Commodity trades.
- Account opening charges range from Rs 200 to Rs 400, with a Demat Account AMC of Rs 300 per year.
Angel One| Best App for Trading
Ranked fourth among the top 10 stock brokers in India, it offers a variety of products and services.
Main Features
- User-friendly trading platform with essential features for effective trading and investing.
- Offers stocks, commodities, currencies, mutual funds, IPOs, bonds, etc.
- Transparent pricing model with brokerage charges for various segments.
Open a free demat account with no annual charges!
Pricing
- Flat Rs 20 per order or 0.25% (whichever is lower) for Equity Intraday, Futures & Options, Currency, and Commodity trades.
- Additional charges include transaction and regulatory charges, along with Demat charges.
Upstox| Best Investment Platform in India
Upstox, launched in 2009, is a discount brokerage firm that ranks fifth on the list of top 10 stock brokers in India.
Main Features
- Offers equity, commodity, futures & options, currency, IPOs, and more on its Upstox Pro Web and Mobile platforms.
- Upstox Pro is renowned for its user-friendly interface, advanced charting tools, and seamless order execution.
- Transparent fee structure with charges for various trading segments and additional fees.
Pricing
- Charges vary depending on the trading segment, with a flat fee of Rs 20 per executed order or a percentage of the transaction value.
- Additional charges include call & trade fees and instant money transfer fees.
Choice Broking Stock Trading
Choice Broking is a Mumbai-based stockbroking firm that offers online trading and financial services. Its products include Equity, Derivatives, Mutual Funds, and more. The broker ranks sixth on the list of the top 10 stock brokers in India.
Features
- Offers wealth management, Portfolio management, Insurance, and Loan against share.
- Low brokerage charges compared to other full-service brokers.
- Provides Margin Trading services with leverage funding of up to 4 times and allows carrying forward delivery trades beyond T+7 days.
- Offers NRI trading and investment services.
- Introduces mobile and web-based trading applications for stock markets and mutual fund investments.
- Account opening is free with no AMC charges for the first year.
Charges
- Annual Maintenance Charge (AMC) for Demat Account: Rs 200 per year with some conditions.
- Choice Broking offers different Demat AMC Plans:
- Annual Plan: Rs 200 every year
- Lifetime AMC Plan: Rs 1500 (one-time fee)
- Refundable AMC Plan: Rs 3000 (one-time refundable deposit). The deposited amount is refunded when closing the demat account.
IIFL Securties| Online Stock Broker
IIFL Securities is part of the IIFL Group. It ranks seventh among the top 10 stock brokers in India and offers multiple financial products, including Stocks, Derivatives, Commodities, Insurance, FDs, Loans, IPOs, and Bonds.
Main Features
- Offers online trading and research-based advisory services across various financial products.
- Operates on a simple flat rate brokerage plan of Rs 20 per executed order across all segments.
- Provides NRI Trading and Investment services with a global presence in key financial hubs.
- Free online account opening with a nominal demat account AMC of Rs 250 (free for the first year).
Pricing
- Account Opening Charges: Rs 0 (Free)
- Demat Account Annual Maintenance Charges (AMC): Rs 250 (Free for the first year)
- Brokerage Charges: Rs 20 per order for equity intraday/delivery, currency FnO, Commodity FnO.
Dhan| Best Stock Trading App
Dhan, ranking in position eight among the top 10 stock brokers in India, is a Mumbai-based financial services company. It offers trading on Stocks, ETFs, Options, Futures, Commodities, and Currency Trading.
Main Features
- Competitive and affordable brokerage charges of Rs. 20 per trade/ 0.03% per transaction for intraday trading.
- Offers brokerage-free stock delivery trades and a 50% discount for female customers.
- Provides a seamless and hassle-free trading experience through modern platforms like Dhan App and Dhan Web.
- Offers up to 4x leverage for investing and trading.
Pricing
- Equity Intraday (across all segments): Rs 20 or 0.03% of trade value per executed order (whichever is lower)
Alice Blue
Alice Blue, established in 2006, ranks ninth among the top 10 stock brokers in India. It is a discount stockbroker offering stock and commodity trading services at all the major exchanges. Focusing on minimising brokerage fees, Alice Blue provides a flat-fee brokerage plan called Freedom 15.
Main Features
- Offers brokerage-free equity delivery trading and flat Rs 15 brokerage for intraday and F&O trades under the Freedom 15 (F15) plan.
- Provides the ANT (Analyse and Trade) trading platform for mobile, desktop, and web versions.
- Access to proprietary and third-party online trading tools via the ‘Trade Store’.
Pricing
- Account Annual Maintenance Charges (AMC): Rs 400
- Equity Delivery: Free | Equity Intraday, Future, Currency Future, Commodity Future: Rs 15 per order or 0.05% | Equity Option, Currency Option, Commodity Option: Rs 15 or Rs 10 per order
Fyers
Fyers Securities, founded in 2015, is an online discount stockbroker. It offers trading services in Equity Cash, F&O, and Currency Derivatives segments at NSE.
Main Features
- Offers brokerage-free equity delivery trading and a flat Rs 20 per trade for Intraday and F&O segments.
- Provides a thematic investment option where customers can invest in predefined themes or portfolios related to specific ideas.
- Offers in-house built web trading platform, desktop trading terminal, and mobile trading app for free to its customers.
- Follows a simple pricing model with a flat brokerage fee of maximum Rs 20 per executed order across all segments.
Pricing
- Equity Intraday: Rs 20 per executed order or 0.03%, whichever is lower
- Futures (Equity, Currency, Commodity): Rs 20 per executed order or 0.03%, whichever is lower
- Options (Equity, Currency, Commodity): Rs 20 per executed order
Conclusion
This concludes the overview of the key features and pricing structures of the top 10 brokers in India. You can compare the charges and offerings of the top 10 stock brokers in India and choose the one that suits your needs.