If you want to invest in the stock market, you must choose an efficient stockbroker. In India, several leading stockbrokers offer diverse services. However, choosing one among the top 10 brokers is not easy.
To help with this, we have created a list of the top 10 stock brokers in India in 2024. It includes their features, pros, and cons. You can compare and pick the best online trading platform.
List of Top 10 Stock Brokers in India 2024
- Groww
- Shoonya
- ICICIdirect
- Angel One
- 5paisa
- Zerodha
- Sharekhan
- Kotak Securities
- HDFC Securities
- Upstox
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Here are the details of above top 10 stock brokers in India 2024.
1. Groww
Groww is a Bangalore-based online discount broker founded in 2016. It offers flat-fee brokerage services for Equity, IPOs, and Direct Mutual Funds.
You can easily trade with Groww through a web and mobile app.
| Pros (Advantages) | Cons (Disadvantages) |
| Flat Rs 20 per trade brokerage. | Limited investment products with no commodity or currency trading. |
| Zero account opening fee and no Demat AMC charges. | Absence of call-and-trade services, stock tips, or research reports. |
| Instant account opening and online IPO application. | No branch support, margin trading, or margin against shares. |
| Direct Mutual Funds platform offering additional returns. | Advanced order types like BO, CO, AMO, and GTT are not available. |
| Option to invest in digital gold and SME Shares. | No NRI Trading or SME IPOs. |
2. Shoonya
Standing ranks 2nd among the top 10 stock brokers in India. It is an ideal platform with lifetime zero-brokerage, an intuitive interface, and diverse investment options.
If you are an advanced trader, you can benefit from features like Option Chain trading and TradingView charts.
Now, open a free demat account with zero AMC charges!
| Pros | Cons |
| Zero brokerage across all trading segments, ensuring cost-effective trading. | Lack of a 3-in-one account option. |
| Lifetime free demat account | Absence of margin funding services. |
| Advanced trading tools and technical indicators for a seamless trading experience. | |
| Zero AMC and AI-powered stock market predictions |
3. ICICIdirect
ICICIdirect, ranked 3rd among the top 10 stock brokers in India, offers integrated 3-in-1 accounts. You can trade across major exchanges like BSE, NSE, and MCX. This online broker offers you access to IPOs, Mutual Funds, and Fixed Deposits.
| Pros (Advantages) | Cons (Disadvantages) |
| Integrated 3-in-1 Account for seamless transactions. | Relatively high standard brokerage fees. |
| Direct Management of Accounts within the ICICI ecosystem. | Minimum brokerage charges are applicable under certain plans. |
| Diverse Investment Options, including IPOs and Mutual Funds. | Flat brokerage on penny stocks. |
| Dual Exchange Trading on BSE and NSE for wider investment choices. | Charges for call & trade services. |
4. Angel One
Angel One, a full-service retail broker, stands in 4th position among the top 10 brokers in India.
The Angel One provides a unified trading app for seamless trading and investing in various securities.
| Pros (Advantages) | Cons (Disadvantages) |
| Full-service brokerage at low fees. | Margin funding practices may confuse. |
| A flat fee of Rs 20 per order across all segments. | No trading in SME shares. |
| Margin trading and collateral facilities are available. | GTC/GTT orders are not available. |
| Free advisory and tips for stocks and mutual funds. | Does not offer a 3-in-1 account. |
5. 5paisa
5paisa stands in 5th position on the list of top 10 stock brokers in India.
With this broker, you can trade in equity, commodity, and currency across BSE, NSE, and MCX.
| Pros (Advantages) | Cons (Disadvantages) |
| Flat Rs 20 per trade brokerage fee | Margin funding can be confusing for customers |
| Comprehensive research and advisory services | High demat debit transaction charges |
| Free account opening with limited-time offers | Higher exchange transaction charges |
| A multi-product platform covering various investment options | Call & Trade services come with an additional cost |
| Free mutual fund account opening | No NRI trading services |
| Multilingual trading app | No 3-in-1 account offering |
6. Zerodha: India’s Largest Stock Broker
Zerodha is one of the top 10 stock brokers in India, known for its flat fee discount brokerage services. It allows you to trade in a range of options, including equity, currency, commodity, IPOs, and more.
What’s more?
It comes with a strong focus on user-friendly platforms and low-cost trading.
| Pros (Advantages) | Cons (Disadvantages) |
| Access to comprehensive educational resources | No 3-in-1 account offering |
| Low-cost trading with flat brokerage fees | Charges for physical contract notes |
| Innovative trading platforms with advanced features | No research and advisory services |
| Direct mutual fund investments through the Coin platform | Limited offline presence |
7. Sharekhan
Sharekhan, established in 2000, is 7th among the top 10 stock brokers in India. It is a full-service stockbroking firm offering online trading and investment services.
With Sharekhan, you can trade in equities, derivatives, currencies, commodities, IPOs, mutual funds, etc.
| Pros (Advantages) | Cons (Disadvantages) |
| Multiple trading platforms for diverse needs | No 3-in-1 accounts |
| Allows fixed deposits as collateral for trading | Limited commodity trading options for classic account holders |
| Comprehensive training programs for investors | Charges based on a percentage of securities traded |
8. Kotak Securities
Kotak Securities Ltd, a subsidiary of Kotak Mahindra Bank, stands at 8th position on the list of top 10 stock brokers in India. It offers you a way to invest in equities, derivatives, mutual funds, and direct access to US markets.
| Pros (Advantages) | Cons (Disadvantages) |
| Seamless integration of 3-in-1 accounts | Zero brokerage plan applicable only to investors under 30 |
| Low-cost brokerage plans for online trading | High brokerage charges for assisted trading |
| Extensive branch and franchisee network across India |
9. HDFC Securities
HDFC Securities ranks as the 9th largest stockbroker. It offers investments in equities, derivatives, mutual funds, IPOs, currency derivatives, and more. HDFC Securities stands out for its integrated 3-in-1 account combining banking, broking, and demat services.
| Pros (Advantages) | Cons (Disadvantages) |
| Integrated 3-in-1 account for seamless transactions | Relatively high brokerage charges |
| Diverse investment options across various asset classes | No commodity trading options |
| User-friendly trading platforms for all levels of investors | Minimum brokerage charges applicable |
10. Upstox
Upstox is a low-cost online trading platform in India. It provides trading opportunities across equities, commodities, currencies, futures, and options.
| Pros (Advantages) | Cons (Disadvantages) |
| Low-cost brokerage with a flat-rate pricing model | Charges for stock deliveries |
| Access to advanced trading tools and platforms | Limited monthly trading plans |
| Facility for margin trading at competitive rates | No stock tips or recommendations |
| Direct mutual funds platform for additional returns | Limited customer support hours |
| Option to invest in digital gold and SME shares | No NRI trading services |
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Conclusion
Choosing the right stockbroker depends on your preferences. While some of you may prioritize low-cost trading, others may value comprehensive research and advisory support services. By comparing the characteristics, pros, and cons of the top 10 stockbrokers in India, you can certainly make the right choice.
