best stockbrokers in India

Top 10 Stock Brokers in India for 2023

Are you interested to invest 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 is 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.  Experts suggest one of the easiest ways to choose the best stock broker is to find out the number of active clients they possess and the support services they provide to customers.

This List is Updated on 30th September 2022 on National Stock Exchange (NSE) in India. The data of active clients is compiled from BSE and NSE stock exchanges.

List of 10 Best Stockbrokers 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 & IPO, 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 to 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, IPO, 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 is 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