Investing in the stock market requires a reliable and efficient brokerage platform. In India, numerous stock brokers offer a range of services. However, most of the users face a block, when it comes to chosing the best broker for trading in India. This article provides an in-depth comparison of the top 7 stock brokers in India, highlighting their key offerings.
Let us begin!
Groww
A broker aiming to simplify investing for everyone, offering low brokerage charges, stands at the 1st position among the top 7 stock brokers in India. It offers a user-friendly trading app and zero-commission direct mutual funds.
- Features: Low brokerage charge of Rs 20 per trade; user-friendly trading app.
- USP: Zero-commission direct mutual funds, abundant educational resources.
- Pricing: Flat Rs 20 per trade for Equity Delivery, Intraday, and F&O.
- Pros: Simple pricing model, Zero account opening fee, Instant paperless account opening, Direct Mutual Funds platform.
- Cons: Limited investment products, Absence of call-and-trade services, No margin trading facility.
Zerodha
This online stock broker stands on the 2nd position in the list of top 7 stock broekrs in India.
What services does it offer?
- Features: Zero brokerage for Equity Delivery and Mutual Funds, up to 20x leverage on intraday trading.
- USP: A simple pricing model.
- Pricing: Flat Rs 20 or 0.03% per executed order for Equity Intraday, Futures, Options, Currency, and Commodity trades.
- Charges: Account Opening Charges: Rs 200 (online), Rs 400 (offline), Demat Account AMC: Rs 300 per year.
- Pros: Safest and trustworthy, and Zerodha Referral Program.
Get Started Now- A trading app with zero brokerage.
- Cons: No stock tips or research reports, Monthly unlimited trading plans not available, No lifetime free AMC demat account plans.
Shoonya
Shoonya is a revolutionary zero-commission discount broker in India.
Standing at the 3rd position on the list of top 7 stock brokers in India, it offers a transparent trading platform with a lifetime free demat account.
What makes it so?
- Features: Zero brokerage across all trading segments, advanced trading tools, hassle-free account setup, and multi-platform accessibility.
- USP: Zero brokerage for all segments, lifetime fee demat account with zero annual charges, and free account opening.
- Pricing: Zero brokerage for Equity Delivery, Intraday, Futures & Options, Currency, and Commodities.
- Pros: Zero brokerage across all trading segments and exchanges, No hidden fees or charges., Access to more than 3000 direct mutual funds.
- Cons: It doesn’t offer a 3-in-one account.
Open your Lifetime free demat account!
Upstox
Upstox is one of the leading top 7 stock brokers in India. It offers trading opportunities across equities, commodities, currencies, futures, and options.
- Features: Trading across various segments; advanced trading tools; wide range of mutual funds.
- USP: Low-cost brokerage, advanced trading tools, margin trading facility.
- Pricing: Flat Rs 20 per trade for Equity Delivery, Intra-day, and F&O trades.
- Charges: Account Opening: Rs 0 (Free), Demat AMC: Rs 150 per year.
- Pros: Low Cost, Advanced Trading Tools, No Software Charges, Margin Trading Facility
- Cons: Brokerage on Stock Deliveries, Limited Monthly Trading Plans, No Stock Tips or Recommendations.
HDFC Securities
This full-service stock broker, which holds 5th rank among the top 7 stock brokers in India, offers investment in equities, derivatives, mutual funds, and IPOs.
- Features: Instant online, paperless account opening; one-stop shop for all investments.
- USP: Comprehensive portfolio tracking tools and 24/7 assistance.
- Pricing: Lowest brokerage of 0.10% per trade for Equity Delivery.
- Account Types: 3-in-1 Account.
- Pros: Integrated 3-in-1 Account, Diverse Investment Options, Dual Exchange Access, User-Friendly Trading Platform.
- Cons: High Brokerage Charges, No Commodity Trading, Minimum Brokerage Charge.
Kotak Securities
Kotak is another full-service stock broker offering 3-in-1 accounts. What makes it unique among the top 7 stock brokers in India?
- Features: Investment in equities, derivatives, and mutual funds; direct access to US markets.
- USP: 3-in-1 accounts, comprehensive research.
- Pricing: Zero intraday brokerage under certain plans, brokerage rates for different trading segments
- Pros: 3-in-1 Account, Trusted Service, Low-Cost Brokerage Plans, Zero Brokerage for Youth, Comprehensive Research.
- Cons: Age Limit for Zero Brokerage, High Equity Delivery Brokerage, High Brokerage for Assisted Trading.
Angel One
Angel One is one of the best online brokers in India. It offers a user-friendly trading platform, and a transparent pricing model.
- Features: Stock and commodity broking, investment advisory, margin funding, loans against shares.
- USP: Flat fee of Rs 20 per order across all segments, free equity delivery trades.
- Pricing: Flat Rs 20 per order or 0.25% (whichever is lower) for Equity Intraday, Futures & Options, Currency, and Commodity trades.
- Pros: Full-service brokerage at ultra-low fees, Training and support for beginners, Free advisory and tips.
- Cons: Margin funding practices may cause confusion, No trading in SME shares, RM and sales team cross-sell other products.
Conclusion
As you can see, these top 7 stock brokers in India, offers unique features, pricing plans, and advantages. You must consider all the factors such as brokerage charges,customer support, and additional services before making a decision.
Happy investing!
