If you are new to the stock market and searching for Best Brokerage Firm In India, you are in the right place. Today we will discuss the Top 9 Best Brokerage Firm In India which will fill all quest of your doubts regarding brokerage firms.

If you are new to the market, the thing you needed most is the low brokerage and fewer charges to make things affordable to you. The most interesting thing is these all brokers try to sell their services to you but you have to be careful about these, which is correct for you.

Share brokers are authorized members of the exchange. Their work is to execute trades on behalf of the customer on exchange. There are over 100’s brokers registered with the stock exchange. They all offer different services.

Today the data we are providing you is most of the data is from the exchange itself.

Top 9 Best Brokerage Firm In India

The most famous stock brokers in discount broker category include Zerodha, 5paisa, Upstox, and nowadays full-service brokers also launched discount broking like services.

All these stockbrokers offer the best Demat account and trading account services. Let’s start our conversation on the best brokerage firm.

1. Zerodha

Best Brokerage Firm In India - 1. Zerodha

Zerodha is the biggest and the best stockbroker in India. They are with over 5 million clients that make up the +15% of daily retail trading volumes on Indian stock exchanges.

Zerodha was started in 2010 by Nitin Kamath, Zerodha was who popularized the concept of discount brokerage.

In the Indian equity market, they provided no brokerage model for investors and a flat Rs 20 per trade brokerage charges for the intraday and other trades.

Zerodha founder - Nikhil Kamath and Nithin Kamath

Zerodha is competing with big players like HDFC and ICICI. It is a difficult task to compete with these giants but Zerodha has managed to remain the Number One discount broker. There are many other competitors too in discount broking like Upstox and 5paisa.

But despite all these Zerodha, being the largest discount broking firm in India. They have a very large customer base in India.

Zerodha’s ServicesCharges
Delivery Brokerage ChargesRs 0
Mutual fund investmentsRs 0
Intraday Charges0.01% or Rs 20 per executed trade (whichever is less)
Account opening chargeRs 200 (Additional Rs 100 for Commodity Account)
Annual Maintenance Charge Rs 300
DP charges13.5 + 18% GST
Services they offerEquity, Derivatives, Currency, Mutual Funds & Commodities
PlatformsKite app, Kite Desktop, PI

Zerodha offers chart from Tradingview and ChartIQ which is far better than all others, or you can say out of best in the industry. They provide many services like education for their clients as well as they provide you with the tradingqna named community.

2. Angel Broking

Best Brokerage Firm In India - 2. Angel Broking

Angel Broking was incorporated in 1987, they are a big brand in the broking industry they are having huge experience of 30+ years in this industry. They are also serving 1 million+ customer in their umbrella.

Angel Broking also having offline offices approx 1900+. They are very much customer-centric. Angel Broking offers the trading facility in almost all segments (Like Equity, F&O, Commodities, and currency) across Indian Exchanges BSE, NSE, NCDEX & MCX.

Angel Broking ServicesCharges
Delivery Brokerage ChargesRs 0
Mutual fund investmentsRs 0
Intraday ChargesFlat ₹20 Per Trade executed trade
Account opening chargeRs 0 (Currently Waived)
Annual Maintenance Charge Rs 450 (Second year onwards)
DP charges20 + 18% GST
Services they offerEquity, Derivatives, Currency, Mutual Funds & Commodities
Trading PlatformAngel iTrade, Angel Broking Mobile App, Angel BEE

3. 5Paisa

Best Brokerage Firm In India - 3. 5Paisa

5Paisa is also a discount broker, but it is part of IIFL (India Infoline Limited). It offers the cheapest stock brokerage in India. IIFL is a big finance investment banker. They launched 5Paisa to offer a lower brokerage platform for its clients. Their main motive was to compete with the fast-growing discount broking industry.

5paisa offers you many services apart from trading in equity, currency, commodity. It also offers its services in mutual funds, Insurances, Personal loans.

5PAISA Broking ServicesCharges
Delivery Brokerage ChargesRs 10 per trade
Mutual fund investmentsFree
Intraday ChargesRs 10 per trade
Account opening chargeRs 650 (Currently Waived)
Annual Maintenance Charge Rs 45 per month (only month when you trade)
DP charges13.5 + 18% GST
Services they offerEquity, Derivatives, Currency, Mutual Funds & Commodities
Trading PlatformInvestor terminal web platform, trader terminal, 5Paisa share trading mobile app

If you want to consider about disadvantages of 5paisa then they are they do not provide a 3-in-1 account. Some can feel discomfort with their higher exchange transaction charges. They also do not provide commodity trading facilities.

4. Upstox

Best Brokerage Firm In India - 4. Upstox

Upstox is a fast-growing discount broker, it is giving tough to India’s discount broking leader Zerodha. Upstox is backed by a group of leading investors including Kalaari Capital, Ratan Tata, GVK Davix, etc.

Upstox is also known as RKSV. Upstox was started as RKSV in 2012. But after some years they rebranded to Upstox in 2015.

As of April 2021, Upstox has the second-highest number of active clients on NSE after Zerodha.

If you talk about Upstox trading services in equity, currency, and commodity. They are backed by a strong group and reputed founders.

Upstox Broking ServicesCharges
Delivery Brokerage ChargesRs 0
Mutual fund investmentsFree
Intraday ChargesRs 20 per executed trade or 0.05% whichever lower
Account opening chargeRs 300 (Currently Waived)
Annual Maintenance Charge Rs 300
DP charges13.5 + 18% GST
Services they offerEquity, Derivatives, Currency, Mutual Funds & Commodities
Trading PlatformTrading Platform: Upstox Pro Web Trading Platform, Bridge for AmiBroker, Developer Console, Option Chain Tool, Upstox MF Platform

5. Paytm Money

Best Brokerage Firm In India - 5. Paytm Money

All we know about what Paytm is impacting on Indian’s Daily Life. Now they are expanding in the financial world. They received approval from the SEBI in 2019 to enter the discount stockbroking segment.

Paytm over the years just tried to surround your financial need. They itself working on a one-stop platform for anything money-related. They got exponential growth post demonetization the online payments platform offered banking services, mutual funds, SIP, pension products.

Paytm’s plans to enter stock broking could bring them good growth if they were active during a pandemic. In the months of April and May, NDSL and CDSL saw an addition of 2 lac and 12 lac new Demat accounts respectively.

The lockdown due to the COVID-19 pandemic has forced the work from home model. This has increased in the first-time investors.

The stock markets got hugely added with disposable income, as as they are forced to spend less on luxury and other needs in the pandemic.

Paytm Broking ServicesCharges
Delivery Brokerage ChargesRs 0
Mutual fund investmentsFree
Intraday ChargesRs 10 per trade
Account opening chargeRs. 200 – One-time Digital KYC + Rs 300 Account Opening Charges
Annual Maintenance Charge Zero Annual Maintenance Charges for your Demat account.
DP charges13.5 + 18% GST
Services they offerEquity, Mutual Funds
Trading PlatformPaytm Money, Paytm

Note: ₹1 per day as platform charges (billed annually for days exchange is open) (Source: Paytm Money)

6. Groww

Best Brokerage Firm In India - 6. Groww

Groww is one of the fastest-growing investment platforms in India. Groww is the brand name for Nextbillion Technology Private Limited. It is a SEBI registered stockbroker and a member of NSE and BSE.

In the early days Groww a Bangalore-based startup. It was set up in 2016 as a platform to directly invest in mutual funds. In the Indian market equity market is booming, if you keeping up with the increase in demand for equity trading.

The vision behind the Groww App was to make mutual funds easily accessible yet the simplest to use App. But now they are for trading from anywhere.

The app came up with the philosophy of making “Investing should be as simple as online shopping”. Today Groww offers Mutual Funds, Demat Services, Trading Services, Intraday Services, IPO Services, and Trading Exposure.

Paytm Broking ServicesCharges
Delivery Brokerage ChargesRs 20 or 0.05% per executed trade (Whichever is lower)
Mutual fund investmentsFree
Intraday ChargesRs 20 or 0.05% per executed trade (Whichever is lower)
Account opening chargeRs 0
Annual Maintenance Charge Zero Annual Maintenance Charges for your Demat account.
DP charges13.5 + 18% GST
Services they offerEquity, Mutual Funds , IPO, Trading
Trading PlatformGroww

7. HDFC Securities

Best Brokerage Firm In India - 7. HDFC Securities

HDFC Securities Limited is a subsidiary of the largest private-sector giant HDFC bank. They have a huge online and offline presence. They have existed for the last two decades.

The company is ranking as one of the topmost full-service stockbrokers of India. Hdfc has its headquarter in Mumbai. They are with more than 270 offices and branches across the country.

Hdfc has provided services to a variety of clients and professional traders. They offer online as well as offline trading services.

HDFC Securities Limited offers a wide range of stockbroking services along with the distribution of financial products. The customers of this broking house can trade through stocks, mutual funds, commodities, FD’s, bonds, etc, and have the benefit of trading and investing with an award-winning broking house.

HDFC Broking ServicesCharges
Delivery Brokerage Charges0.07%-0.32% on transaction value
Mutual fund investmentsFree
Intraday Charges0.40%- 0.15% on transaction value
Account opening chargeRs 999
Annual Maintenance Charge Rs 750 (Second year onwards)
DP charges13.5 + 18% GST
Services they offerEquity, Mutual Funds , IPOs, ETFs, Bonds, FDs, Insurance
Trading PlatformBlink, ProTerminal, and Mobile App

  HDFC securities provide you best things are 3-in-11 Account (Demat+Trading+Savings), facility to invest in US stocks. Umbrella platform for different investment instruments, Research Reports, Equity Recommendations to Clients, and NRI’s.

8. ICICI Direct

Best Brokerage Firm In India - 8. ICICI Direct

ICICI Direct Limited is a subsidiary of one of the largest private-sector giant ICICI bank. They have a huge online and offline presence. It is armed by the leading private financial services provider ICICI Group. They are in existence since 1994.

ICICI Direct is ranking as one of the topmost full-service stockbrokers of India. ICICI has provided services to a variety of clients and professional traders. They offer online as well as offline trading services.

ICICI Direct has been number one in terms of active customers until 2019. But after that, the top discount broking firm Zerodha dethroned them with a client base of more than 2 million.

You can trade with them on a call-to-action facility. They will provide you an RM (Relationship Manager). Their brokerage is a little bit high but their services are mind-blowing.

ICICI Direct Limited offers a wide range of stockbroking services along with the distribution of financial products. The customers of this broking house can trade through stocks, mutual funds, commodities, FD’s, bonds, etc, and have the benefit of trading and investing with an award-winning broking house.

ICICI DIrect Broking ServicesCharges
Delivery Brokerage Charges0.15% – 0.25% on transaction value
Mutual fund investmentsFree
Intraday ChargesRs 15 per trade
Account opening chargeRs 0 (Free)
Annual Maintenance Charge Rs.700 per Annum from 2nd year
DP charges13.5 + 18% GST
Services they offerEquity, Mutual Funds , IPOs, ETFs, Bonds, FDs, Insurance
Trading Platformweb, Trade Racer and Mobile App

ICICI Direct also provides you best things are 3-in-11 Account (Demat+Trading+Savings), this facility helps you to trade very seamlessly. They also avail the facility to invest in US stocks. Umbrella platform for different investment instruments, Research Reports, Equity Recommendations to Clients, and NRI’s.

9. Kotak Securities

Best Brokerage Firm In India - 9. Kotak Securities

Kotak Securities was founded in 1994, Kotak Securities Ltd is a subsidiary of Kotak Mahindra Bank. They have huge a presence in 360+ cities. If we talk about ranking then they are ranked among the top three full-service brokers.

They are one of very few stockbrokers who provide a 3-in-1 account facility.

They are part of the well-known financial service provider The Kotak Mahindra Group.

Kotak Broking ServicesCharges
Delivery Brokerage ChargesRs 0
Mutual fund investmentsFree
Intraday ChargesRs 20 per trade
Account opening chargeRs 0 (Free)
Annual Maintenance Charge Rs.700 per Annum from 2nd year
DP charges13.5 + 18% GST
Services they offerEquity, Derivatives, Mutual Funds, IPOs, ETFs, Currency, bonds, ETFs
Trading PlatformXTRALITE (web), KEAT PRO X (terminal application), Fastlane, Stock Trader(mobile app)

Kotak Securities provides you with multi-asset class investment and trading products. They provide you with services, distribution services, insurance products, investment banking, and a lot more. Kotak has a very wide range of clients spread across India as well as the globe.

Somedays back Kotak securities launched Trade FREE plan with a discount broking model.

Final Words-

As we all know that the stockbrokers provide you attractive discounts and offer to attract towards their service. Many times you see that brokerage charges are very less but they have various types of hidden charges.

But in the above list provided you will find good service and fewer chances of being charged hidden charges. All these are reputed brokers of Indian exchange.

And if you find somewhere hidden charges then all these brokers are having very good customer service. You can directly connect to your RM.

For discount broking Service I always prefer industry leader Zerodha.

But in case if you are very new to the stock market then you can go with Motilal Oswal and Angel Broking. As they are full-service brokers so they will provide you with research papers also.

Previous articleBest 11 Youtube Channels to Learn Indian Stock Market
Next articleUpstox Review 2021 | My Honest Unbiased Review
I talk about Indian stock broker review, stock broker comparison, investment. I share my experience about stock market investing for beginners.

LEAVE A REPLY

Please enter your comment!
Please enter your name here