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Top 20 Stock Brokers in India for 2024

Are you interested in investing in stocks and looking for the most reliable stockbrokers in India? Here in this article, we list the best stockbroking platforms on the basis of active clients.

Choosing a safe and reliable stock broker is a critical decision one needs to make before investing in the equity market.  There are hundreds of stockbrokers registered with SEBI and different stock exchanges like NSE and BSE in India.

However, it is been observed in the past, lot many stockbrokers have been either blacklisted by SEBI or suddenly left the market leaving the customers alone. Hence, choosing the right stockbroker is crucial for a smooth and profitable trading experience

List of 20 Stock Brokers in India

1. Zerodha Broking Limited

Zerodha is India’s biggest and most popular stockbroker. The company launched its operations in India in the year 2015. More than 3 million clients place millions of orders every day through its trading platform. Its mobile app ‘KITE’ is downloaded +1,000,000 times on various Play stores.

Services Offered: It offers online flat fee discount brokerage services to invest in Equity, Currency, Commodity, IPO, and Direct Mutual Funds.

Number of Active Clients: 909008

Quick Link to Open an Account with Zerodha

2. ICICI Securities Limited is a subsidiary company of ICICI Bank. ICICI Direct is a retail trading and investment service from ICICI Securities. ICICI Securities Limited is a Registered Investment Advisor under SEBI Investment Adviser Regulations, 2013.

Services Offered: The company deals with Online Equity Trading, Derivatives Trading, Mutual Funds & IPOs, and much more.

Number of Active Clients: 843975

3. HDFC Securities Limited

HDFC Securities(HDFCsec) is a leading Equity Trading Company. It is a subsidiary of HDFC Bank. The HDFC Securities trading account has a unique 3-in-1 feature. It connects your HDFC Securities trading account with your existing HDFC bank savings account and existing Demat account. It helps users switch funds/shares from the linked Demat/Bank account for executing transactions.

Services Offered: Trading & investment in equities, currency, commodities, F&O, fixed deposits, ETF, bonds, insurance, mutual funds, IPO, NPS, etc.

Number of Active Clients: 672044

4. Sharekhan Limited

Sharekhan was launched in the year 2000. The company provides brokerage services through its online trading website Sharekhan also has an international presence in the UAE and Oman.

Services Offered: Sharekhan offers trade execution facilities for equity cash and derivatives segments on BSE and NSE. It provides commodities trading facilities on MCX and NCDEX and also offers depository services and the option to invest in mutual funds and IPOs.

Number of Active Clients: 509787

5. Axis Securities Limited

Incorporated in 2005, Axis Securities Ltd is a subsidiary company of Axis Bank. The company started to cater to Indian customers from the year 2005. a leading private bank in India. It is a full-service broking company offering stockbroking services. AxisDirect offers a 3-in-1 account, and integrated Trading, Demat, and Bank account.

Also, Read: How to Open a Business Account in India

Services Offered: AxisDirect offers investment in Equities, Mutual Funds, SIP, IPOs, Derivatives, bonds, NCDs, ETFs, and much more.

Number of Active Clients: 419455

6. Kotak Securities Limited

Kotak Securities Ltd, a subsidiary of Kotak Mahindra Bank. It was founded in the year 1994. They offer stockbroking services and distribute financial products in India. They are listed as corporate members of the Bombay Stock Exchange and the National Stock Exchange.

Services Offered: Kotak Securities allows you to trade in Equity, IPO, Mutual Funds, ETF, Tax-free bonds, Currency Derivatives, Gold ETF, etc.

Number of Active Clients: 437822

7. Angel Broking Limited

Angel Broking is one of the biggest full-service retail brokers in India. It offers a wide range of investment and trading services to customers.

Services Offered: Some of the popular services are stock and commodity broking, investment advisory services, margin funding, loans against shares, and financial product distribution.

Number of Active Clients: 412809

8. Motilal Oswal Financial Services Limited

Incorporated in 1987, Motilal Oswal Securities Ltd. (MOSL) is a leading stockbroker in India based in Mumbai. The company was launched in 1987. MOSL is the pioneer in the discretionary Portfolio Management Service (PMS).

Services Offered: The company offers its customers trading services in equity, commodity, currency, and derivatives.

Number of Active Clients: 319138

9. 5Paisa Capital Limited

5paisa is one of the most popular flat online discount stockbrokers in India. It is promoted by IIFL founders. 5Paisa started operations in the year. The company is listed on BSE and NSE. It is a flat-rate discount stockbroker.

Services Offered: 5Paisa caters to equity, F&O commodity, currency, IPO, MF, ETF, NFO, insurance, NCDs, bonds, and others.

Number of Active Clients: 106280


Upstox was formerly known as RKSV Securities. The company is based in Mumbai. Upstox is backed by a group of investors including Kalaari Capital, Ratan Tata, and GVK Davix.

Services Offered: Upstox trading platform offers trading, analysis, charting, and many more rich trading features. You can easily place orders through mobile phones and web browsers.

Number of Active Clients: 99546

11. Edelweiss Broking

Edelweiss is known for its diverse range of investment products, including equities, derivatives, commodities, and mutual funds. They offer a user-friendly trading platform and research tools.

12. Religare Broking

Key Features: Religare Broking offers a range of financial products, including equities, derivatives, commodities, and mutual funds. They provide a comprehensive trading platform and research reports.

13. SBI Securities

SBI Securities is the stockbroking arm of the State Bank of India. They offer a comprehensive trading platform with research and advisory services. SBI Securities is known for its reliability.

14. KARVY Online

KARVY Online offers a user-friendly trading platform with a range of investment options. They provide research reports and portfolio management services.

15. Aditya Birla Money

Aditya Birla Money is part of the Aditya Birla Group. They offer a robust trading platform and personalized investment advisory services. Aditya Birla Money also provides access to IPOs and mutual funds.

16. Geojit Financial Services

Key Features: Geojit Financial Services is known for its research-based approach to investing. They offer a trading platform with real-time market data and research reports.

17. Reliance Securities

Key Features: Reliance Securities provides a range of trading and investment services. They offer a user-friendly trading platform and access to IPOs and mutual funds.

18. IIFL Securities

IIFL Securities is known for its research and advisory services. They offer a feature-rich trading platform with real-time market data.

19. KIFS Trade Capital

KIFS Trade Capital provides an advanced trading platform with real-time market data. They offer a wide range of investment options and personalized advisory services.

20. Nirmal Bang

Nirmal Bang offers a user-friendly trading platform with real-time market data. They provide research reports and investment advisory services.

Frequently Asked Questions

What should I consider when choosing a stockbroker in India?

When selecting a stockbroker, consider factors such as brokerage fees, trading platforms, research and analysis tools, customer support, and the range of investment options they offer.

Are there differences in brokerage fees among stockbrokers?

Yes, brokerage fees can vary significantly among stockbrokers. Some charge a flat fee per trade, while others have a percentage-based fee structure. It’s essential to understand the fee structure and assess its impact on your trading costs.

Is it necessary to have a Demat account with the same broker where I have a trading account?

While it’s common to have a Demat account with the same broker for convenience, it’s not mandatory. You can have a separate Demat account with a different institution if it better suits your needs.

How important is the quality of the trading platform?

The quality of the trading platform is crucial for a smooth trading experience. Look for a platform that is user-friendly, reliable, and provides real-time market data, advanced charting tools, and order execution speed.

Do all stockbrokers offer research and analysis tools?

No, not all stockbrokers provide the same level of research and analysis tools. Some offer comprehensive research reports, while others may have limited resources. There are both discount brokers and full-time brokers. Choose a broker that aligns with your need for research.

Is it possible to switch stockbrokers if I am not satisfied with my current one?

Yes, it is possible to switch stockbrokers if you’re not satisfied with your current one. However, the process may involve transferring your holdings to the new broker, which can take some time.

How can I open a trading and Demat account with a stockbroker?

To open a trading and Demat account, you’ll typically need to provide identity and address proof, PAN card details, bank account information, and passport-sized photographs. The specific requirements may vary by broker.

Can I trade in multiple asset classes, such as equities, derivatives, and commodities, with the same broker?

Many brokers offer the option to trade in multiple asset classes. However, it’s essential to confirm with your chosen broker whether they provide access to the specific asset classes you want to trade.

What is the role of a stockbroker in the stock market?

A stockbroker acts as an intermediary between investors and the stock market. They facilitate the buying and selling of securities on behalf of clients and provide access to stock exchanges.

Are there any hidden charges or account maintenance fees with stockbrokers?

Stockbrokers may have account maintenance fees or other charges, so it’s essential to review their fee structure carefully. Ask your broker for a complete list of charges to ensure transparency.

About Next What Business Research Team

The Editorial Staffs at NextWhatBusiness is a team of Business Consultants with years of experience in small and medium-scale manufacturing and service-based businesses.