Best Stock Broker in India

If you are a beginner looking for the best stock broker in India, you will find the best stock broker in this post. In this post, I am going to share the ten best stock brokers in India and discuss their features, charges, pros, and cons. By the time you reach the end of the post, you will have excellent clarity on the stock brokers in India, and you should be able to compare and choose the best stock broker among these ten brokers.

Angel One

best stock broker in india

Angel One was formerly known as Angel Broking, and the stockbroker was established in 1996. Over the years, Angle One has won many rewards for its outstanding contribution to India's investing and environment. The stock broker is ideal for both investing and trading.

Features at a glance

  • Product include Stocks, IPO, F&O, Mutual Funds, and Commodities
  • Account opening is free
  • AMC of ₹20 +tax per month
  • No brokerage on Equity Delivery
  • Charges ₹20 flat per executed order on Intraday Equity, F&O, Currencies, and Commodities
  • Decent stock applications across all platforms for free
  • Phone and FAQs support

Pros & Cons

ProsCons
Zero charges on account opening
No GTT order
Zero brokerage on Equity Delivery
Investment in SME Stocks not allowed
Minimal brokerage on all other segments
Products include Stocks, IPO, F&O, US Stocks,
Mutual Funds, and Commodities
Powerful stock applications for technical analysis
Decent Support

Visit AngelOne.in for current pricing
Or Read our full review on Angel One

Upstox

Upstox home

The Mumbai-based stock broker, Upstox, has been around since 2009; back then, it was known as RKSV. The stock broker has investors like Ratan Tata, which makes it a reliable platform. Most importantly, the stock broker offers high security and usability.

Features at a glance

  • Easy and fast account opening for ₹249
  • No Demat Annual Maintenance Charges
  • Zero brokerage on Mutual Funds and IPOs
  • ₹20 or 2.5% per executed order (whichever is lower) on Equity Delivery
  • ₹20 per executed order or 0.05% (whichever is lower) on Equity Intraday and Equity F&O
  • Leverage facility available
  • Free stock applications on mobile and web platforms with Tradingview and ChartIQ charts
  • Ready-made Options Strategies
  • Best-in-class Support through live chat, phone, and tickets

Pros & Cons

ProsCons
No Annual Maintenance Charges
The web-based app is sluggish
Good stock applications with advanced charting and indicators
Equity Delivery is not brokerage-free
Ready-made Options Strategies
Sensibull integration and Option Chain data
Best-in-class Support
Minimal brokerage
Leverage facility available

Visit Upstox.com for current pricing
Or Read our full review on Upstox

Zerodha

Zerodha-Review-1024x509

If there is one stock broker that has helped ordinary people believe that they can trade and invest on their own, it's none other than Zerodha. Zerodha was founded in 2010 and is the industry's most reliable stock broking platform. The stock broker offers a secure, clean, and fast interface for investing.

Features at a glance

  • Products include Stocks, IPOs, Direct Mutual Funds, Derivatives, and Bonds
  • Account opening is entirely online, and the platform charges ₹200 for account opening
  • The stock broker charges ₹300 for Demat Annual Maintenance
  • ₹0 charges for Equity Delivery and Mutual Fund
  • ₹20 or 0.03% (whichever is lower) per executed order on Equity Intraday, F&O, and Commodity
  • Fast and secure stock application across mobile and web
  • Multiple order types, including GTT
  • Graphical P&L, Sensibull integration, and KillSwitch
  • Phone and ticket support

Pros & Cons

ProsCons
Quick and easy online account opening
Contacting Phone support requires a support code
Reliable stock application with a clean interface
Options to choose between Tradingview and ChartIQ charts
Different investment products such as Stocks, IPOs, Direct Mutual Funds, Derivatives, and Bonds
No brokerage on Equity Delivery
Minimum brokerage charges on others

Multiple order types, including CO, BO, GTT, and Basket Order
KillSwitch and Sensibull integration
Beautiful Graphical P&L statement

Visit zerodha.com for current pricing
Or Read our full review on Zerodha

5Paisa

best stock broker in india

5Paisa is a reliable SEBI-registered stock broker founded in 2016. The stock broker offers a wide range of investment products. Besides, it helps you save more through its super saver packs. Further, the stock broker offers a decent investment experience with excellent stock applications and technical and fundamental analysis tools.

Features at a glance

  • Paperless Account Opening for free
  • Products include Stocks, Mutual Funds, Commodities, and Currency
  • ₹300 for Demat Annual Maintenance
  • A brokerage charge of ₹20 per order on all trades
  • Lower brokerage charges with the Super Saver Packs
  • Free APIs
  • Excellent stock applications across all platforms
  • Algo trading and Robo advisory services

Pros & Cons

ProsCons
Free Account Opening
High Demat debit transaction charges
Super Saver Packs to lower brokerage charges
Margin funding offered without customers' notice
Brokerage Cashback up to ₹1000 per month
Free APIs
Good stock applications on all device platforms
Decent educational resources and documentation

Visit Zerodha.com for current pricing
Or Read our full review on 5paisa

ICICI Securities

ICICI Securities, a subsidiary of ICICI Bank Ltd has been around since 1995 and is headquartered in Mumbai. The stock broker allows customers to trade and invest in Equity, Mutual Funds, IPOs, Derivatives, F&O Currency and Commodities, and ETFs. The stock broker follows a 3-in-1 account model and allows customers to open an account for free.

Features at a glance

  • Free account opening
  • 3-in-1 account model
  • Demat Account Annual Maintenance charge of ₹300
  • ₹0 brokerage on Equity Futures
  • A brokerage of ₹20 per trade on Equity Intraday and F&O
  • Four pricing with different brokerage structures
  • Highly functional stock applications across all device platforms

Pros & Cons

ProsCons
No charges on account opening
Brokerage is comparatively higher than other stock brokers
Funding the account is seamless with the 3-in-1 account model
Users can capitalize on leverage facility
No brokerage on Equity Futures
Different brokerage plans are available
Free stock applications across all device platforms

Visit ICICISecurities.com for current pricing
Or Read our full review on ICICI

Kotak Securities

Kotak-Securities

Kotak Securities is a subsidiary of Kotak Mahindra Bank and was founded in 1994. The stock broker allows you to trade in Equity, IPO, Mutual Funds, ETF, Bonds, F&0, Currency, and Commodity. The platform has over 17 lakhs users and is quite a reliable online stock broker in India.

Features at a glance

  • Zero Account Opening Charges
  • ₹600 for Demat Annual Maintenance
  • Products include Equity, IPO, Mutual Funds, ETF, F&O, Currency, and Commodity
  • Zero brokerage plan available
  • Excellent applications across all device platforms, including desktops
  • Many free research and analysis tools
  • Excellent Support through WhatsApp chat, phone, and email

Pros & Cons

ProsCons
No charges on account opening
The Annual Maintenance Charges are pretty high
Wide range of products to trade and invest in
Advanced and powerful stock applications
Various research and analysis tools
Margin trading available
Zero brokerage on Intraday in all segments
Different pricing, including Trade Free Max plans
Comprehensive Support

Visit Kotaksecurities.com for current pricing
Or Read our full review on Kotak securities

Motilal Oswal

Motilal Oswal is a popular and reliable SEBI-registered stock broker in India, established in 1987. The stock broker is well-known for its excellent market research. The stock broker allows you to trade and invest in various financial instruments, including Equity, Commodity, Currency, Derivatives, Mutual Funds, IPOs, Gold, Insurance, and FD.

Features at glance

  • Zero Account Opening Charges
  • ₹400 for Demat Annual Maintenance
  • Wide range of investment options
  • A brokerage of 0.20% for Equity Delivery, Equity Intraday, and All Segments Futures
  • ₹20 per lot for All Segments Options
  • Free research & advisory services
  • Free stock applications on all device platforms
  • Integrated Algo investment strategy
  • Market screeners for trending stocks
  • Support through phone and tickets

Pros & Cons

ProsCons
Account Opening is free
Equity Delivery is not brokerage-free
No AMC for the first year
Support is not up to the mark
Wide range of investment options
Minimal brokerage on all segment
Excellent applications across mobile and web platforms
Suitable for Algo trading
Market Screeners for finding trending stocks

Visit Motilaloswal.com for current pricing
Or read our full review on Sharekhan

Sharekhan

Sharekhan-optional-trading

Sharekhan is one of the oldest of all online stock brokers in India and was founded in 2000. The stock broker had a massive contribution in making online investment popular in India. The company spent a lot of money in 2000 spreading awareness about online investment. Sharekhan is still a popular platform in India.

Features at a glance

  • Account opening is free of cost
  • Powerful applications across mobile, web, and desktops
  • Wide range of investment products
  • Low bandwidth application for slow internet
  • Free research service
  • Various market analysis tools for free
  • Decent Support through live chat and phone

Pros & Cons

ProsCons
Zero account opening charges
Brokerage charges are pretty high
Various research and market analysis tools for free
Mutual Fund investment is not supported
Powerful applications across all device platforms, including desktops
Low bandwidth application for slow internet
Free Call & trade
Decent Support & Documentation

Visit Sharekhan.com for current pricing
Or Read our full review on Sharekhan

IIFL Securities

IIFL home

IIFL Securities is another leading stock broker in India, and it was founded in 1996. The stock broker offers an excellent experience based on its cutting-edge technology. IIFL allows you to trade and invest in Stocks, IPOs, Derivatives, Commodities, FDs, Bonds, and Insurance. Besides, the stock broker provides users with exceptional research-based advisory services.

Features at a glance

  • Account opening is free
  • ₹250 for Demat Annual Account Maintenance
  • Products include Stocks, IPOs, Derivatives, Commodities, FDs, Bonds, and Insurance
  • A flat brokerage of ₹20 per order for all segments
  • Stock applications across all device platforms
  • Free research-based advisory services

Pros & Cons

ProsCons
Free account opening
No Direct Mutual Funds
Zero Demat Annual Maintenance Charges for the first year
Customers complained about Margin facility being enabled without their notice
Transparent pricing with a minimal brokerage for all segments
Margin facility is available
Free investment applications across all device platforms
An additional application for Mutual Funds
Multiple order types, including Valid till Date (VTD)
Research-based advisory services for free

Visit IIFL.com for current pricing
Or read our full review on Sharekhan

Paytm Money

Paytm Money Home

Paytm money was founded in 2017 and is a SEBI-registered stock broker with over 14 million users. The platform allows you to trade and invest in Stocks, Mutual Funds, IPOs, and NPS Retirement Funds. The platform has recently added an F&O segment for its customers.

Features at a glance

  • Online account opening for ₹200
  • No Demat Annual Maintenance Charges
  • Mobile and Web applications with Tradingview and ChartIQ charts
  • Up to 5x leverage on Equity Intraday
  • Comparatively lower brokerage charges than other platforms
  • ₹15 or 2.5% of turnover (whichever is lower) on Equity Delivery
  • ₹15 or 0.5% of turnover (whichever is lower) per executed order on Equity Intraday
  • ₹15 or 0.2% of turnover (whichever is lower) per executed order on F&O
  • Quick and reliable Support through tickets

Pros & Cons

ProsCons
Multiple investment products, including Stocks, Mutual Funds, IPOs, and F&O
The platform charges ₹300 per year for its mobile application
Easy online account opening
No chat and phone support
No Demat Annual Maintenance Charges

Comparatively lower brokerage charges than other platforms
Leverage facility with up to 5x leverage
Tradingview and ChartIQ charts and multiple indicators

Visit PaytmMoney.com for current pricing
Or read our full review on Sharekhan

Factors to Consider While Choosing a Stock Broker

Here are some factors you need to consider to choose the best stock broker in India:

  • Opening charges and AMC
  • Brokerage charges
  • Interface
  • Charting tools
  • Fundamental and Financial Analysis Data
  • Reliable Customer Support

FAQ Best Stock Broker in India

What is the best broker in India?

There are many good stock brokers in India to choose from. Here are some of the best stock brokers in India:

  • Angel One
  • Upstox
  • Zerodha
  • 5Paisa
  • ICICI Securities
  • Kotak Securities
  • Motilal Oswal
  • Sharekhan
  • IIFL Securities
  • Paytm

Which stock broker is the best for beginners in India?

Zerodha is the best stock broker for anyone who is just stepping into the world of investment in India. The platform offers a clean and intuitive interface. There is hardly an exaggerated feature in Zerodha. Even a newbie should get the hang of this trading platform in about 10 minutes.

Besides, the KillSwitch is a highly useful feature since it can help beginners break out of overtrading. Further, Zerodha demat account offers excellent graphical P&L statements for investors to track day-to-day performance.

Which broker is better than Zerodha?

Even though there are many stock brokers to choose from, Zerodha remains the most reliable broker in India. There are undoubtedly many stock brokers that are working at par with Zerodha. However, one broker, seen as a tough competitor of Zerodha, is Kotak Securities.

The platform is better than Zerodha in some places. Kotak Securities doesn't charge any account opening charge, unlike Zerodha. Besides, the platform offers zero brokerage on all segments of Intraday, unlike Zerodha. Further, Kotak Securities has better customer support than Zerodha.

Is Upstox or Zerodha better?

Upstox and Zerodha have many similarities in terms of features and brokerage structure. Both come with Sensibull integration, 2-factor authentication, and good Tradingview and ChartIQ charts applications. However, Zerodha is better than Upstox. Zerodha trading account has better P&L statements, and besides, it comes with advanced features like KillSwitch.

What is the significance of a trading platform when choosing the best stock broker in India? 

A trading platform plays a crucial role in facilitating your stock trading activities. It's the interface through which you execute trades, access market data, and manage your portfolio. Make sure to evaluate the quality, features, and user-friendliness of the trading platform offered by a broker.

How does HDFC Securities stand out as a potential option for the best stock broker in India? 

HDFC Securities is a prominent name in the Indian stock market. Known for its reliability and comprehensive services, it offers a variety of investment options, trading tools, and research reports. Consider evaluating their brokerage fees and trading platform as part of your decision-making process.

What is the role of interactive brokers in the Indian stock market? 

Interactive Brokers is an international brokerage known for its advanced trading tools and global market access. While it's not an Indian-based broker, it could be an option for investors looking for international exposure and sophisticated trading features.

How does the National Stock Exchange (NSE) impact trading activities in India? 

The National Stock Exchange (NSE) is one of India's leading stock exchanges, providing a platform for trading various financial instruments. Its stability, credibility, and extensive market coverage make it a critical factor to consider when evaluating a stock broker.

How do discount brokers differ from traditional full-service brokers? 

Discount brokers offer lower brokerage fees compared to full-service brokers. They focus on executing trades efficiently without providing extensive advisory services. If you're a self-directed trader looking to minimize costs, a discount broker might be a suitable choice.

What are the benefits of intraday trading and how can a broker like Kotak Security assist in this? 

Intraday trading involves buying and selling stocks within the same trading day. Kotak Securities could provide the necessary trading platform, research tools, and margin trading facilities to support your intraday trading strategies.

Conclusion

Finding the Best stock broker in India is easy these days since there are so many stock brokers to choose from. I have walked you through the ten best stock brokers in India, along with their pros and cons. It should now be easy for you to compare these ten stock brokers and choose the best stock broker for your investment requirements.

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