Top 6 Top Brokers In India With Buying Guide (Updated 2024)

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Looking for a Top Brokers In IndiaGreat! You have reached the right place; we are here to help you, make sure to read the article carefully to know the top stock brokers in India. Since January 15, 1998, the Securities and Exchange Commission of India (SEBI) has introduced compulsory settlement of transactions in the Demat format for trading-

and investing in stocks and securities. Since then, the entire stock trading and investing is processed through the Demat account or Trading account.

Dematerialization is the process of converting the physical form of a stock or security into a digital or electronic form.

Brokers perform these activities to invest in or trade stocks on behalf of their clients for consideration of brokerage fees. Though the main function of a stockbroker is to facilitate the buying and selling of stocks on the stock exchange,

Also Read This Blog For More Info On Pranav Saha : Stock Analysis

Introduction

Choosing the right broker is crucial for any investor or trader. With a plethora of options available in the market, it can be overwhelming to make a decision. In this article, we will discuss the top 10 brokers in India and provide a buying guide to help you make an informed choice. The brokers we will be focusing on are Zerodha, Upstox, Angel Broking, ICICI Direct Full Service, and Groww Discount Broker.

Zerodha

Zerodha is one of the leading discount brokers in India. It offers a simple and user-friendly platform for trading and investing in stocks, commodities, currencies, and more. With its low brokerage fees and innovative tools, Zerodha has gained popularity among traders and investors. It also provides educational resources and support for beginners.

FEATURES

  • A trusted broker with a large customer base.
  • Good customer support.
  • Charge for intraday trade is ₹20 per trade.
  • No brokerage on stock delivery.
  • Maximum brokerage charge capped to ₹20 irrespective of transaction volume. 
  • Advanced charts and tools user experience
  • Allows streaming price data, multimarket access, advanced charts, and simple trading tools.
  • Allows different trade reports for analysing profit or loss

Join Zerodha Stock Broker

BROKERAGE CHARGES:

Zerodha chargesBrokerage
Equity deliveryZero Brokerage
Equity intraday0.03% or ₹. 20/executed order whichever is lower
Equity futures0.03% or ₹. 20/executed order whichever is lower
Equity optionsFlat ₹. 20 per executed order
Currency futures0.03% or ₹. 20/executed order whichever is lower
Currency options0.03% or ₹. 20/executed order whichever is lower
Commodity futures0.03% or ₹. 20/executed order whichever is lower
Commodity options0.03% or ₹. 20/executed order whichever is lower
BROKERAGE CHARGES

ACCOUNT OPENING AND ANNUAL MAINTENANCE CHARGES:

Particulars       Charges
Trading and Demat account opening charges₹200
Commodity account opening charges₹100 
ACCOUNT OPENING AND AMC

Its Four Types of Accounts

Type of accountAnnual ChargesQuarterly Charges
Individuals, HUFs, NRIs and partnership firms₹ 300 + 18% GST₹ 75 + 18% GST
Corporates, i.e. LLPs and private & public companies₹ 1000 + 18% GST₹ 250 + 18% GST
For Infrastructure Leasing & Financial Services Limited Demat (accounts opened before 15th Sep 2015)₹ 400 + 18% GST₹ 100 + 18% GST
Its Four Types of Accounts

CONCLUSION

Zerodha is India’s maximum technologically superior inventory broker. Zerodha has developed its own buying and selling software program Zerodha Kite (Web and cellular buying and selling app)

Coin (Investment Trust Investment Platform), Varsity (Investor Education Program), Trading Q & A, and lots of different tools. Zerodha provides different trading reports to keep track of profit and loss. All these help investors or traders seamless trading.

Also Read This Blog For More Info On Pranav Saha : Stock Analysis

Upstox

Upstox is another popular discount broker known for its competitive brokerage rates and advanced trading platforms. It offers a range of investment options including stocks, derivatives, commodities, and mutual funds. Upstox provides a seamless trading experience with its intuitive interface and robust trading tools.

FEATURES

  • Upstox offers up to ₹1,000 brokerage loans valid for 30 days.
  • Brokerage fees for stocks, F & O (futures and options), commodities and currencies are up to ₹20 per order.
  • Brokerage fee for investment trusts and IPOs is ₹0. 
  • Immediate account opening along with the paperless application process
  • Variety of electronic calculators for calculating brokerage fees, SIP and NPV. 

BROKERAGE CHARGES:

Upstox ChargesBrokerage
Equity deliveryWhichever is lower on Equity Delivery₹20 or 2.5% 
Equity intradayWhichever is lower on ₹20 or 2.5%
Equity futures(whichever is lower)₹20 per executed order or 0.05% 
Equity optionsFlat ₹20 per executed order.
Currency futures(whichever is lower)₹20 per executed order or 0.05% 
Currency optionsPer executed order.Flat ₹20 
Commodity futures(whichever is lower)₹20 per executed order or 0.05%
Commodity optionsFlat ₹20 per executed order
BROKERAGE CHARGES

ACCOUNT OPENING AND ANNUAL MAINTENANCE CHARGES:

Demat Account Opening Charges(One Time) ₹249
Annual Maintenance Charge AMC(Yearly Fee) is ₹ 0 (Free)
Annual Maintenance Charges AMC(Yearly Fee) is ₹ 0 (Free)
Trading Account Opening Charge(One Time) as ₹ 0 (Free)
ACCOUNT OPENING AND AMC

CONCLUSION

Upstox offers a fast, reliable & easy-to-use trading platform for traders in the Indian stock market. Upstox offers low-cost trading services. 

For all other trading segments across the exchange, Thus best user experience and easy navigation with Upstox.

Angel Broking

Angel Broking is a full-service broker that offers a wide range of investment options and personalized advisory services. It provides research reports, expert recommendations, and portfolio management services to help investors make informed decisions. Angel Broking also offers a user-friendly mobile app for easy access to trading and investment services.

FEATURES

  • Payment of profit directly to the Demat, such as dividends, bonuses, interest, and ultimately to the bank account.
  • Automatic updates of bonus costs, warrants, or stock split information.
  • Allows holding an investment in its trusts with the same Demat account.
  • Seamless customer support.
  • Online investments in stocks, midfielders, corporate FDs, insurance and more with the same Demat account.
  • Up to ₹ 20 per stock, F & O, commodity and currency order
  • ₹ 0 brokerage for mutual funds and IPOs 
  • Open an online paperless instant account.

Join Angel One Stock Broker

BROKERAGE CHARGES:

Angel One ChargesBrokerage
Equity DeliveryZero Brokerage
Equity Intraday0.25%  Or ₹ 20 / Executed Order (Whichever Is Lower) 
Equity Futures0.25%  Or ₹ 20 / Executed Order (Whichever Is Lower) 
Equity Options0.25%  Or ₹ 20 / Executed Order (Whichever Is Lower) 
Currency Futures0.25% Or ₹ 20 / Executed Order (Whichever Is Lower) 
Currency Options0.25%  Or ₹ 20 / Executed Order (Whichever Is Lower) 
Commodity Futures0.25%  Or ₹ 20 / Executed Order (Whichever Is Lower) 
Commodity Options0.25%  Or ₹ 20 / Executed Order (Whichever Is Lower) 
BROKERAGE CHARGES

ACCOUNT OPENING AND ANNUAL MAINTENANCE CHARGES:

Non-BSDA (Basic Service Demat Account) Clients₹ 20 + Tax / Month
For BSDA (Basic Services Demat Account) Clients If Holding Value Less Than 50,000: NILIf Holding Value Between 50,000 To 2,00,000: ₹ 100 + Tax / Year
Account the opening charge‘Zero’.
ACCOUNT OPENING AND AMC

With Angel One is Angel One is a full-service discount broker, and they are known to offer competitive broking charges in the industry.

CONCLUSION

Flat fee stockbroker charging Rs 20 per order across segments and exchanges. Free research and advisory. Verity of investment options like Equity trading, F&O, Commodities, PMS, Mutual Funds, Insurances.

No charges for any fund transfer. These key parameters stand-out Angel One in the Industry.

ICICI Direct Full Service

ICICI Direct Full Service is a well-established full-service broker in India. It offers a comprehensive range of investment options including stocks, derivatives, mutual funds, and more. ICICI Direct provides personalized advisory services, research reports, and a dedicated relationship manager for its customers. It also offers a 3-in-1 account which integrates banking, trading, and demat services.

FEATURES

  • With an ICICI Demat account, your money never lies idle. It gives you interest when it is parked in a trading account. Since you are on an online trading account and saving account, you keep on earning 3.5% interest on the not-allocated unutilised amount in your trading account.
  • Annual service charges for the first year are waived off.
  • Liberty on choosing from various pricing options.
  • Paperless account opening
  • Daily Recommendation and research around your portfolio

BROKERAGE CHARGES:

Following is the minimum brokerage charged

Delivery SegmentMargin Segment
PlanTransaction up to in (in )Brokerage in () or in %
2999,259₹ 25 or 0.75 % whichever is lower
99911,363₹ 25 or 0.75 % whichever is lower
1,99913,889₹ 25 or 0.75 % whichever is lower
2,99916,667₹ 25 or 0.75 % whichever is lower
3,99920,833₹ 25 or 0.75 % whichever is lower
4,99925,000₹ 25 or 0.75 % whichever is lower
BROKERAGE CHARGES:
Systematic Equity Plan (SEP)
PlanTransaction upto in (in )Brokerage in () or in %
2994,000₹ 10 or 0.75 % whichever is lower
9994,545₹ 10 or 0.75 % whichever is lower
1,9995,556₹ 10 or 0.75 % whichever is lower
2,9996,667₹ 10 or 0.75 % whichever is lower
3,9998,333₹ 10 or 0.75 % whichever is lower
4,99910,000₹ 10 or 0.75 % whichever is lower
Margin Segment
PlanTransaction up to in (in )Brokerage in () or in %
29955,555₹ 15 or 2.5 % whichever is lower
99968,182₹ 15 or 2.5 % whichever is lower
1,99983,333₹ 15 or 2.5 % whichever is lower
2,999100,000₹ 15 or 2.5 % whichever is lower
3,999125,000₹ 15 or 2.5 % whichever is lower
4,999150,000₹ 15 or 2.5 % whichever is lower

BROKERAGE CHARGES:

ACCOUNT OPENING AND ANNUAL MAINTENANCE CHARGES:

Trading Account Opening Charge(One Time) ₹ 0 (Free)
Annual Maintenance Charges AMC(Yearly Fee) ₹ 0
Demat Account Opening Charges(One Time) ₹ 0
Annual Maintenance Charge AMC(Yearly Fee) ₹ 300 (from 2nd year)

CONCLUSION

ICICI directly offers online trading and investment services to over 50 lakhs customers. The services offered include equity, commodity, and currency trading at BSE, NSE, and MCX.

It offers brokerage-free equity futures trading, allowing it to stand out as one of the best brokerage in India.

Also Read This Blog For More Info On Pranav Saha : Stock Analysis

Groww Discount Broker

Groww is a discount broker that aims to make investing simple and accessible for everyone. It offers a user-friendly platform for investing in stocks, mutual funds, and more. Groww provides a seamless onboarding process and offers zero brokerage on mutual fund investments. It also provides educational resources and expert recommendations to help investors make informed decisions.

FEATURES

  • Groww was commenced six years ago by the collaboration of a few former Flipkart employees who aim to offer various investment products such as 
  • Investment in Stocks,
  • Direct mutual funds,
  • IPO,
  • Exchange trading fund (ETF),
  • Fixed Deposit (FD),
  • Digital gold,
  • US stocks. 

BROKERAGE CHARGES:Groww offers Equity Brokerage is ₹ 20 or 0.05 per order executed, whichever is lowerF and O Brokerage are ₹ 20 per order executed

Join Groww Stock Broker

ACCOUNT OPENING AND ANNUAL MAINTENANCE CHARGES:

  • Groww also offers zero account opening charges
  • Groww allows you with Zero AMC

CONCLUSION

All of this makes for a heady mix, and companies that already have large user bases and brand recall could well end up cornering the new equity investors who stream into the Indian market in the coming years.

Other Top Brokers in India

In addition to the above-mentioned brokers, several other top brokers in India deserve mention:

  • HDFC Securities: A full-service broker known for its research and advisory services.
  • Kotak Securities: Offers a wide range of investment options and personalized advisory services.
  • Sharekhan: Provides a user-friendly platform and research-based investment recommendations.
  • 5Paisa: A discount broker with competitive brokerage rates and a range of investment options.
  • Motilal Oswal: Offers a comprehensive range of investment options and personalized advisory services.

Buying Guide

When choosing a broker, there are several factors to consider:

  1. Brokerage Fees: Compare the brokerage fees charged by different brokers and choose one that offers competitive rates.
  2. Trading Platforms: Evaluate the trading platforms offered by brokers and ensure they are user-friendly and equipped with advanced features.
  3. Investment Options: Consider the range of investment options available with the broker and choose one that aligns with your investment goals.
  4. Research and Advisory Services: If you require research reports and expert recommendations, opt for a broker that provides these services.
  5. Customer Support: Look for brokers that offer prompt and reliable customer support to address any queries or issues.

Conclusion

Choosing the right broker is essential for a successful investing journey. Zerodha, Upstox, Angel Broking, ICICI Direct Full Service, and Groww Discount Broker are among the top brokers in India, each offering unique features and services. Consider your investment goals, trading preferences, and the factors mentioned in the buying guide to make an informed decision. Happy investing!

Also Read This Blog For More Info On Pranav Saha : Stock Analysis

Who is No. 1 share broker?

Groww
Zerodha
Angel One
Upstox
ICICI Direct Full Service

Who is No 1 stock broker in India?

Groww surpasses Zerodha, becomes number one broker in terms of active clients. Bengaluru-based Fintech startup Groww has shot past the country’s leading discount brokerage company Zerodha in terms of the highest number of active investors.

Which brokerage is the safest?

In an IBD survey, Interactive Brokers (IBKR), Fidelity brokerage and Charles Schwab (SCHW) ranked as the Best Online Brokers in Website Security, based on the brokers’ own customers’ ratings. They’ve stayed ahead of hackers in website security.

Who is the most successful stock broker?

The richest stock trader in the world is considered to be Warren Buffett. He is one of the most influential investors in the whole history of trading in the stock market. As of 2022, his net worth is 107 billion dollars. He managed to reach this huge success due to his discipline while trading.

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