Top 20 Share Brokers in India: Trusted Experts for Your Investment Needs in 2024

We will discuss the best broker for it as Paytm Money, which is a top broker and charges nothing. Buying and selling holds no money chargeable to investors, making it very cheap.

Brokerage Firms Comparison – Revisiting For The Year 2024

Broker	Active Clients	Investment Options	Foreign Stocks	SEBI Registered
Zerodha	6.48 million	Equity, Mutual Funds, F&O, Currency Trading, ETFs, Commodities	Not Supported	Yes
Groww	6.63 million	Equity, Digital Gold, Mutual Funds, Tax-Saving Investments, ETFs	Supported	Yes
Angel One	4.85 million	Equity, US Stocks, Corporate FDs, Mutual Funds, Currency & Commodities	Supported	Yes
Upstox	2.19 million	Equity, ETFs, Retirement Planning, Mutual Funds, Corporate FDs	Supported	Yes
ICICI Direct	1.91 million	Equity, NCD, Mutual Funds, Currency Derivatives, Commodity Derivatives	Supported	Yes
Motilal Oswal	0.80 million	Equity, NCD, Mutual Funds, Currency & Commodities	Supported	Yes
Kotak Securities	1.00 million	Equity, NCD, US Stocks, Mutual Funds, Currency Derivatives	Supported	Yes
SBI Securities	0.68 million	Equity, NCD, ETFs, Mutual Funds, US Stocks	Supported	Yes
Paytm Money	0.70 million	Equity, US Stocks, Mutual Funds, NCD	Not Supported	Yes
Sharekhan	0.76 million	Equity, NCD, Mutual Funds, US Stocks	Supported	Yes
Aditya Birla Capital	0.35 million	Equity, Mutual Funds, Currency & Commodity Derivatives, ETFs	Supported	Yes
IIFL Securities	0.42 million	Equity, US Stocks, Mutual Funds, Currency & Commodities	Supported	Yes
Axis Direct	0.33 million	Equity, NCD, Mutual Funds, US Stocks, Currency Derivatives	Not Supported	Yes
Alice Blue	0.16 million	Equity, US Stocks, Mutual Funds, Currency & Commodity Derivatives	Supported	Yes
5paisa	0.50 million	Equity, Mutual Funds, NCD, US Stocks	Not Supported	Yes
Fyers	0.20 million	Equity, Mutual Funds, Currency Derivatives, ETFs	Supported	Yes
SMC Global	0.16 million	Equity, US Stocks, Mutual Funds, Currency Derivatives	Supported	Yes
Choice Broking	0.20 million	Equity, Mutual Funds, US Stocks, Currency & Commodities	Supported	Yes
Geojit	0.23 million	Equity, NCD, Mutual Funds, US Stocks, Currency & Commodities	Supported	Yes
HDFC Securities	1.00 million	Equity, NCD, Mutual Funds, Currency Derivatives, ETFs	Not Supported	Yes

Brokerage fees and hidden costs for top brokers in India

Broker	Delivery Charges	Intraday Charges	Options Trading Fees	Futures Trading Fees
Zerodha	Free	₹20 per executed order or 0.03%	₹20 per order	₹20 per order or 0.03%
Groww	Free	₹20 per order or 0.05%	₹20 per order	₹20 per order or 0.03%
Angel One	0.1% to 0.4%	0.01% to 0.04%	₹20 per order	0.01% to 0.04%
Upstox	Free	₹20 per order or 0.05%	₹20 per order	₹20 per order or 0.05%
ICICI Direct	0.55% to 0.75%	0.03% to 0.05%	₹95 per order	0.03% to 0.05%
Motilal Oswal	0.50% to 0.75%	0.05% to 0.15%	₹100 per order	0.05% to 0.15%
Kotak Securities	0.49% to 0.59%	0.03% to 0.05%	₹100 per order	0.03% to 0.05%
SBI Securities	0.50% to 1.00%	0.05% to 0.10%	₹100 per order	0.05% to 0.10%
Paytm Money	Free	₹10 per order or 0.05%	₹10 per order	₹10 per order or 0.02%
Sharekhan	0.10% to 0.50%	0.03% to 0.05%	₹100 per order	0.03% to 0.05%
Aditya Birla Capital	0.30% to 0.50%	0.05% to 0.05%	₹100 per order	0.03% to 0.05%
IIFL Securities	0.05% to 0.50%	0.05% flat	₹100 per order	0.05% flat
Axis Direct	0.50% to 1.00%	0.05% to 0.10%	₹100 per order	0.05% to 0.10%
Alice Blue	₹0.01 per order	₹20 per order	₹20 per order	₹20 per order
5paisa	0.10% to 0.25%	0.05% to 0.10%	₹10 per order	0.05% to 0.10%
Fyers	0.10% to 0.30%	0.01% to 0.05%	₹20 per order	0.01% to 0.05%
SMC Global	0.30% to 0.50%	0.03% to 0.05%	₹100 per order	0.03% to 0.05%
Choice Broking	0.15% to 0.50%	0.03% to 0.05%	₹20 per order	0.03% to 0.05%
Geojit	0.15% to 0.30%	0.03% to 0.05%	₹100 per order	0.03% to 0.05%
HDFC Securities	0.25% to 0.50%	0.03% to 0.05%	₹100 per order	0.03% to 0.05%

Other additional charges you might need to pay

• Demat Charges: You will need to pay ₹13.5 plus GST for each scrip.
  • Stamp Duty:For regular purchases: 0.015% of the buying amount.
  • For intraday trades: 0.003% of the transaction value.
  • STT (Securities Transaction Tax):0.10% on both buying and selling of equity.
  • 0.025% on selling value for intraday trades.
  • 0.0125% on selling value for options trading.
  • 0.0625% on the premium for options.
• GST (Goods and Services Tax): You will be charged 18% on the total of brokerage, SEBI charges, and transaction fees.

Top Stock Market Intermediaries

Paytm Money

Paytm Money is a relatively recent addition to the brokerage market. It offers a straightforward and user-friendly platform tailored to beginners and tech-savvy individuals.

Its zero brokerage fees for equity delivery and direct mutual funds, along with flat rates for intraday and F&O trades, make it a compelling choice for those who are mindful of costs.

Key Features:

• Annual fees include ₹999 for a trading account per year, with the Demat account being free in the first year and then ₹299 plus taxes from the second year onward.
• Intraday trading fees are either 0.03% or ₹20 per executed order, whichever is lower.
• The platform offers investment options like stocks, mutual funds, ETFs, IPOs, US stocks, commodities, currency, fixed income, and PMS.
• There is no charge for opening an account.
• Brokerage fees for equity delivery are capped at 0.50%.
• The platform provides tools such as Trader’s Corner, MO Trader, Orion Lite, and various calculators for SIPs and FDs.
• Customer support is available around the clock via email, chat, and phone.
• The trading platform is easy to use. Mobile apps are available for Android and iOS and offer a simple and intuitive user interface.
• Different account types are offered, including regular trading accounts, Demat accounts, accounts for minors, as well as NRI and HNI accounts.
• Educational resources include free online courses on investing, guides for opening a Demat account, trading tutorials, and market news and analysis.
• Users can access major Indian stock exchanges like NSE, BSE, MCX, NCDEX, and US stocks via NSE IFSC.
• Security measures include two-factor authentication, SSL encryption, and ISO 27001 certification.
• Paytm Money adheres to all SEBI regulations, with transparent pricing and no hidden fees.
• The company has no significant history of SEBI violations.

Services Offered:

• Paytm Money offers Demat and trading accounts, mutual funds, ETFs, IPOs, derivatives, PMS, margin trading, and specialized accounts for NRIs and HNIs.

Pros:

• The platform is simple and offers an affordable pricing model.
• It is especially suitable for beginners and those comfortable with technology.

Cons:

• Compared to full-service brokers, the range of investment products is limited.

Zerodha

Zerodha is a leading discount broker that has experienced tremendous financial success, with profits of ₹2,094 crore from revenue of ₹4,964 crore in FY22. Known for its innovative pricing structure and cutting-edge technology, it has become India’s largest stockbroker.

It serves both novice and seasoned traders, providing a seamless trading experience that empowers users to make informed investment decisions.

Key Features:

• There is no annual fee for trading accounts, but the Demat account costs ₹300 annually.
• Intraday trading fees are 0.03% of the trade value or ₹20 per order, whichever is lower.
• Zerodha offers various investment options, including stocks, mutual funds, ETFs, currency derivatives, commodity derivatives, and options.
• Opening an account is free for equity and costs ₹200 for commodity trading.
• Brokerage fees for equity delivery are 0%.
• Available tools include Kite, Console, Coin, Kite Connect API, Varsity mobile, and 80 technical indicators.
• Customer support is available 24/7 through email, chat, and phone.
• The platform is user-friendly. Kite is available on both Android and iOS and offers an intuitive interface and easy-to-understand charts.
• Account types include regular trading, Demat, and trading accounts for minors.
• Educational resources are abundant, including free courses on investing through Varsity, trading tutorials, and market analysis.
• Users have access to all major Indian stock exchanges, including NSE, BSE, MCX-SX, and NCDEX.
• Security features include two-factor authentication, data encryption, and secure servers, and Zerodha is a SEBI-registered broker.
• Zerodha is fully compliant with SEBI regulations, offering transparent pricing with no hidden fees.
• The company has no significant history of SEBI violations.

Services Offered:

• Zerodha provides equity trading, commodity trading, currency trading, mutual funds, bonds, and government securities.

Pros:

• Zerodha offers a wide range of investment products and comprehensive research and advisory services.

Cons:

• The account opening process can take a lot of work.

TO KNOW MORE ABOUT THESE STOCKS, CLICK HERE.

Aditya Birla Capital

Aditya Birla Capital is a well-regarded full-service broker known for its innovative approach. Its platform is easy to use, making it a good fit for beginners, while the broad range of investment options is beneficial for more experienced investors.

Key Features:

• The annual maintenance charge is ₹250 per year, with the first year free.
• Intraday charges are 0.05% or ₹20 per executed order, whichever is lower.
• The platform offers various investment options, including equity, derivatives, commodities, currency, insurance, FDs, loans, IPOs, and bonds.
• There is no fee for opening an account.
• Brokerage charges are a flat ₹20 per executed order across all segments, including equity delivery.
• Tools available include Campaign – Aditya Birla Money – Portfolio Analyzer and Moneycontrol.
• Customer support is available 24/7 via phone, email, and chat.
• The platform is user-friendly and features trading platforms like Trade Station Exe and ABTRADE.
• Account types include regular trading, Demat, accounts for minors, NRI, HNI, and corporate accounts.
• Educational resources include expert research and analysis, along with personalized support.
• Market access includes trading on BSE, NSE, MCX, and NCDEX.
• Security features include two-factor authentication, data encryption, secure servers, and ISO 27001 certification.
• Aditya Birla Capital adheres to all SEBI regulations.
• There have been no major violations reported.

Services Offered:

• Aditya Birla Capital offers lending, insurance, asset management, stock and securities broking, and more.

Pros:

• The platform provides customized financing solutions for small to medium-sized businesses.
• There is an extensive network of branches for personalized interactions.

Cons:

• Brokerage fees are higher compared to discount brokers.

Upstox

Upstox is a rising star in the discount broking market. It is admired for its straightforward and affordable approach, including zero brokerage on equity delivery and competitive fees for intraday trading.

With over 10 million users and a valuation of $3.5 billion, Upstox is outpacing its competitors.

Key Features

• There are no annual fees for trading accounts, and the Demat account costs ₹150 per year.
• Intraday trading fees are 0.03% of the trade value or ₹20 per order, whichever is lower.
• The platform offers various investment options, including stocks, mutual funds, ETFs, IPOs, futures, and options.
• Opening an account is free.
• Brokerage charges for delivery trades are 0.1% or ₹20, whichever is lower.
• Tools available include a brokerage calculator, 2X margin pledges on over 450 stocks, Option Chain with Greeks, F&O Smartlists, and live news.
• Customer support is available 24/7 via email, chat, and phone.
• The platform is user-friendly, with both web and mobile apps for Android and iOS, offering a simple and intuitive interface.
• Account types include regular trading, Demat, and accounts for minors.
• Educational resources include a trading glossary, knowledge base, market talk, and a stock market holidays calendar for 2024.
• Market access includes trading on NSE, BSE, MCX, and NCDEX.
• Security features include two-factor authentication, data encryption, and secure servers, and Upstox is SEBI-registered.
• The company complies fully with SEBI regulations and has no significant history of violations.

Services Offered

• Upstox provides online trading in equity intraday, delivery, derivatives, commodities, and currency segments.

Pros:

• The platform offers competitive margins for intraday and F&O trading.
• Comprehensive research reports are available.

Cons:

• Customer support options are limited.

ICICIdirect

ICICIdirect is a full-service stockbroker that offers a wide range of services beyond just trading and investing. Their 3-in-1 account integrates banking, broking, and Demat services, making it a convenient option for investors.

Their NEO brokerage plan charges a flat ₹20 per order for intraday, F&O, commodities, and currencies.

Key Features:

• The annual maintenance charge is ₹499 plus GST, with ₹700 for the Demat account.
• Intraday charges are 0.015% on buy orders and 0.003% on intraday trades.
• The platform offers various investment options, including stocks, mutual funds, ETFs, corporate bonds, fixed-income securities, commodities, and currency derivatives.
• There is no fee for account opening.
• Brokerage charges for equity delivery are 0%.
• Available tools include i-Track for personalized insights, live charts, advanced charts with diverse styles, and a Payoff Analyzer for personalized payoff charts. The platform also offers real-time F&O insights and quick trade execution with Flash Trade.
• Customer support is available 24/7 via email, chat, and phone.
• The platform is user-friendly, with mobile apps for Android and iOS, featuring an intuitive interface and easy-to-understand charts and graphs.
• Account types include regular trading accounts, Demat accounts, NRI accounts, HNI accounts, and trading accounts for minors.
• Educational resources include free online courses on investing, a Demat account opening guide, trading tutorials, and market news and analysis.
• Market access includes all major Indian stock exchanges, including NSE, BSE, MCX, and NCDEX.
• Security features include two-factor authentication, data encryption, secure servers, and ICICIdirect, a SEBI-registered broker.
• ICICIdirect complies with all SEBI regulations, maintaining transparency with no hidden charges.
• The company has a history of minor violations related to SEBI regulations, such as maintaining adequate records and providing timely disclosures.

Services Offered:

• ICICIdirect offers a comprehensive range of services, including equity, mutual funds, derivatives, F&O, currency, commodities, ETFs, insurance, IPOs, corporate fixed deposits, loans, NPS, wealth management, corporate services, NRI services, portfolio management services, global investment, financial learning, and tax services.

Pros:

• Convenient 3-in-1 account for integrated banking, broking, and Demat services.
• Diverse services at competitive pricing.
• Provides personalized guidance and support.

Cons:

• Higher brokerage fees compared to discount brokers.

HDFC Securities

HDFC Securities is a leading full-service broker catering to both seasoned traders and investors. The platform supports a wide range of investment activities and is backed by a research team that provides detailed market analysis and recommendations, making it one of the top choices among share brokers in India.

Key Features:

• The annual maintenance charge is ₹499 plus GST.
• Intraday charges are 0.015% on buy orders and 0.003% on intraday trades.
• The platform offers various investment options, including stocks, mutual funds, ETFs, IPOs, commodities, currency derivatives, and bonds.
• There is no charge for opening an account.
• Brokerage charges for equity delivery are 0.25% on buy orders and 0.15% on sell orders.
• Available tools include an online trading platform for buying and selling stocks on the BSE and NSE, MCX, and SmallChartIQ, which offers 100 popular technical indicators, 30 customizable tools, and 13 candle timeframes.
• Customer support is available 24/7 via email, chat, and phone.
• The platform is user-friendly, with mobile apps for Android and iOS. It provides a simple and intuitive interface with easy-to-understand charts and graphs.
• Account types include regular trading accounts, Demat accounts, and trading accounts for minors.
• Educational resources include free online courses on investing, a Demat account opening guide, trading tutorials, and access to market news and analysis.
• Market access includes all major Indian stock exchanges, including NSE, BSE, MCX, and NCDEX.
• Security features include two-factor authentication, data encryption, and secure servers. HDFC Securities is an SEBI-registered broker.
• The company complies with all SEBI regulations and has no significant history of violations.

Services Offered:

• HDFC Securities offers services including stock SIP, basket investing, IPOs, mutual funds, NFOs, investing in US stocks, PMS, NRI accounts, and more.

Pros:

• Advanced trading platform with sophisticated tools.
• Competitive margins for intraday and F&O trading.

Cons:

• Occasional technical issues reported by users.

Kotak Securities

Kotak Securities is a prominent full-service equity broker in India. It offers a range of trading platforms, such as Keat Pro X, a mobile app, and a website. The company provides research tools and educational content to help investors make informed decisions.

The platform caters to both beginners and experienced investors, offering a personalized approach to investment management.

Key Features:

• The annual maintenance charge is ₹780 per year for a trading account and ₹300 per year for a Demat account.
• Intraday charges are 0.025% of the trade value or a minimum of ₹20 per executed order.
• The platform offers a variety of investment options, including stocks, mutual funds, ETFs, IPOs, US stocks, currency derivatives, commodities, sovereign bonds, tax-free bonds, NCDs, and more.
• The Demat account opening charge is ₹150 plus GST while opening a trading account is free.
• Brokerage charges for equity delivery are 0.25% of the trade value or a minimum of ₹20 per executed order.
• Available tools include the KEAT Pro X desktop trading application, Kotak Stock Trader, and Kotak Securities Mobile App.
• Customer support is available 24/7 via email, chat, and phone.
• The platform is user-friendly, with mobile apps for Android and iOS. It offers a simple and intuitive interface with easy-to-understand charts and graphs.
• Account types include regular trading accounts, Demat accounts, trading accounts for minors, joint accounts, NRI accounts, HNI accounts, and corporate accounts.
• Educational resources include free online courses on investing, a Demat account opening guide, trading tutorials, market news and analysis, and webinar programs.
• Market access includes all major Indian stock exchanges, including NSE, BSE, MCX, and NCDEX.
• Security features include two-factor authentication, data encryption, and secure servers. Kotak Securities is an SEBI-registered broker.
• The company complies with all SEBI regulations and has a clean record with no significant violations.

Services Offered:

• Kotak Securities provides services in futures and options, margin trading, exchange-traded funds, currency trading, commodities, mutual funds, tax-free bonds, IPOs, stock baskets (small case), sovereign gold bonds, NCDs (non-convertible debentures), SLBM (securities lending and borrowing mechanism), global investing, and more.

Pros:

• Offers personalized investment recommendations aligned with client objectives.
• Provides a wide range of investment products across various asset classes.

Cons:

• Limited order types are available on the platform.

Motilal Oswal

Motilal Oswal is a seasoned full-service broker known for its personalized services, investor education, and profitable stock recommendations.

With over 30 years of experience, it is recognized as a leading choice for investors and has won several awards, including ‘Best Performing National Financial Advisor – Equity Broker.’

Key Features:

• The annual maintenance charge is ₹999 per year for a trading account and ₹299 plus taxes from the second year onwards.
• Intraday charges are 0.03% or ₹20 per executed order, whichever is lower.
• The platform offers a variety of investment options, including stocks, mutual funds, ETFs, IPOs, US stocks, commodities, currency, fixed income, and PMS.
• There is no account opening fee.
• Brokerage charges for equity delivery are 0.015% on buy orders and 0.003% on sell orders.
• Available tools include the Trader’s Corner charting tool, MO Trader, Orion Lite with a SIP calculator, an FD calculator, a brokerage calculator, and more.
• Customer support is available 24/7 via email, chat, and phone.
• The platform is user-friendly, with mobile apps for Android and iOS. It offers a simple and intuitive interface with easy-to-understand charts and graphs.
• Account types include regular trading accounts, Demat accounts, trading accounts for minors, NRI accounts, and HNI accounts.
• Educational resources include free online courses on investing, a Demat account opening guide, trading tutorials, and market news and analysis.
• Market access includes all major Indian stock exchanges, including NSE, BSE, MCX, and NCDEX, and access to US stocks through NSE IFSC.
• Security features include two-factor authentication, data encryption, secure servers, and Motilal Oswal, a SEBI-registered broker.
• The company complies with all SEBI regulations, offering transparent pricing with no hidden charges.
• Motilal Oswal has no significant history of SEBI violations.

Services Offered:

• Motilal Oswal provides services in retail broking, IPO and mutual funds investment, portfolio and wealth management, insurance, and gold investment.

Pros:

• The platform offers solid research and advisory services.
• Provides a wide range of brokerage plans to suit different needs.

Cons:

• The platform can be complex for beginners.

Groww

Groww is a popular platform known for its low brokerage charges in India. With a flat fee of ₹20 per trade, it is highly favoured by investors who want to save on trading costs.

The platform also offers advanced charting tools, algorithms, and automation to assist in making informed trading decisions.

KEY FEATURES

• Intraday charges are a flat ₹20 per trade.
• The platform offers various investment options, including equity, mutual funds, ETFs, US stocks, digital gold, and corporate fixed deposits.
• There is no fee for opening an account.
• Brokerage charges are up to 0.5% for equity delivery, a flat ₹20 per trade for intraday, ₹50 for US stocks, and ₹1 for mutual funds.
• Available tools include a website, mobile app, and financial planning calculators.
• Customer support is provided through live chat, email, and phone.
• The platform is designed to be user-friendly, with simple and intuitive navigation that makes it easy for users to access and manage their investments.
• Account types include regular trading accounts, NRI accounts, HNI accounts, and accounts for minors.
• Educational resources include a blog, articles, webinars, and videos, which provide valuable insights for investors.
• Market access includes NSE, BSE, NCDEX, MCX, and US stock exchanges.
• Safety and security are ensured through multi-factor authentication and bank-level security measures.
• Groww is a SEBI-registered platform and complies with all applicable regulations.
• There have been no significant violations reported.

Services Offered:

• Groww provides services in trading stocks, mutual funds, ETFs, US stocks, digital gold, and corporate FDs.

Pros:

• Transparent pricing with low brokerage charges.
• The mobile app is available for Android and iOS, making it easy to trade.

Cons:

• Limited investment product offerings compared to some full-service brokers.

SBI Securities

SBI Securities, a subsidiary of the State Bank of India, offers a wide range of investment products and services. It is a full-service broker that provides reliable Demat account services through both National and Central Depository Services Limited, making it one of the most trusted names in India.

Key Features:

• There are no annual maintenance charges.
• Intraday charges are 0.05% or ₹15 per executed order, whichever is lower.
• The platform offers various investment options, including equity, derivatives, mutual funds, IPOs, and NPS.
• The account opening charge is ₹850.
• Brokerage charges range from 0.50% to 1.00% for delivery, 0.05% to 0.10% for intraday, and ₹100 per executed order for options.
• Available tools include SBISMART Xpress, SBISMART Money, SBISMART Web, and SBISMART Mobile.
• Customer support is available via email, phone, and chat.
• The platform is user-friendly and provides easy access to various tools and resources.
• Account types include regular trading accounts, Demat accounts, trading accounts for minors, NRI accounts, and HNI accounts.
• Educational resources include free online courses on investing, a Demat account opening guide, trading tutorials, and market news and analysis.
• Market access includes all major Indian stock exchanges, including NSE, BSE, MCX, and NCDEX, as well as US stocks through NSE IFSC.
• Safety and security features include two-factor authentication, SSL encryption, data encryption, secure servers, and ISO 27001 certification.
• SBI Securities complies with all SEBI regulations and has a transparent pricing model.
• The company has no significant history of SEBI violations.

Services Offered:

• SBI Securities offers services in Demat and trading accounts, mutual funds, ETFs, IPOs, derivatives, PMS, margin trading, and specialized accounts like NRI and HNI accounts.

Pros:

• Low non-trading fees and quick digital account opening with no minimum deposit.
• Reliable and trusted brand with a long-standing reputation in the market.

Cons:

• Higher brokerage fees compared to discount brokers.

Sharekhan

Sharekhan is a full-service broker with nearly 764,000 active clients. It offers services through its website and over 1,800 offices in 550+ Indian cities, making it ideal for traders who need a wide range of services, such as stock trading, research, and advisory.

Key Features:

• The annual maintenance charge is ₹400 per annum.
• Intraday charges are 0.05% or ₹10 per executed order, whichever is lower.
• The platform offers different investment options, including equity, derivatives, currency, commodities, mutual funds, IPOs, bonds, and FDs.
• The account opening charge is ₹750.
• Brokerage charges range from 0.1% to 0.5%, depending on the trading volume.
• Available tools include Trade Tiger, Sharekhan App, Sharekhan Mini, Sharekhan Classroom, Sharekhan Research, and Sharekhan Trade Academy.
• Customer support is available 24/7 via phone, email, and chat.
• The platform is user-friendly, with trading platforms that have intuitive interfaces.
• Account types include Classic Account, Trade Tiger Account, and Sharekhan First Account.
• Educational resources include Sharekhan Classroom, Sharekhan Research, and Sharekhan Trade Academy.
• Market access includes trading on BSE, NSE, MCX, NCDEX, and MSEI.
• Safety and security features include two-factor authentication, data encryption, secure servers, and SEBI regulation compliance.
• Sharekhan complies with all SEBI regulations and has reported no major violations.

Services Offered:

• Sharekhan provides services in Demat and trading accounts, mutual funds, ETFs, IPOs, derivatives, PMS, margin trading, NRI accounts, and HNI accounts.

Pros:

• Offers a wide range of services, including securities brokerage, mutual funds, and wealth management.
• Provides international trading services.

Cons:

• Customer support can sometimes take time to reach.

5paisa

5paisa is a leading discount broker known for its user-friendly trading platform, zero brokerage for equity delivery, and direct mutual funds. It offers flat brokerage for intraday and F&O trades, making it one of the top choices for high-volume traders in India.

Key Features:

• The annual maintenance charge is ₹45 per month.
• Intraday charges are 0.05% or ₹20 per executed order, whichever is lower.
• The platform offers various investment options, including equity, derivatives, currency, commodity, mutual funds, IPOs, bonds, and ETFs.
• The account opening charge is ₹650.
• Brokerage charges are a flat ₹20 per trade.
• Available tools include 5paisa Trade Station, 5paisa Mobile App, 5paisa Web, 5paisa Trader Terminal, Trade Station Exe, Stock Screener, Technical Stock Screener, and more.
• Customer support is available 24/7 via phone, email, and chat.
• The platform is user-friendly, with intuitive interfaces for trading.
• Account types include regular trading accounts, Demat accounts, and trading accounts for minors.
• Educational resources include 5paisa School, 5paisa Research, and 5paisa Blog.
• Market access includes BSE, NSE, MCX, and NCDEX.
• Safety and security features include two-factor authentication, data encryption, secure servers, and SEBI regulation compliance.
• 5paisa complies with all SEBI regulations and has reported no major violations.

Services Offered:

• 5paisa provides services in Demat and trading accounts, mutual funds, ETFs, IPOs, derivatives, PMS, margin trading, NRI accounts, and HNI accounts.

Pros:

• Low brokerage charges and a user-friendly platform.
• Suitable for high-volume traders.

Cons:

• Research and advisory services are limited.

IIFL Securities

IIFL Securities is a full-service share broker with over 423,474 active clients. It provides online trading and research-based advice on stocks, derivatives, commodities, and more.

Whether you are a high-volume trader or a newcomer needing solid online training, IIFL Securities has something to offer.

Key Features:

• The annual maintenance charge is ₹250 per annum, free for the first year.
• Intraday charges are 0.05% or ₹20 per executed order, whichever is lower.
• The platform offers a wide range of investment options, including equity, derivatives, commodities, currency, insurance, FDs, loans, IPOs, and bonds.
• There is no account opening fee.
• Brokerage charges are a flat ₹20 per executed order across all segments, including equity delivery.
• Available tools include the TTWeb Trading Portal, the TTExe Desktop Application, the IIFL Markets Mobile App, the IIFL MF App, and OneUp, which allows users to bid online for IPOs, SVGs, NCDs, etc.
• Customer support is available 24/7 via phone, email, and chat.
• The platform is user-friendly, with trading platforms that have intuitive interfaces.
• Account types include regular trading accounts, Demat accounts, trading accounts for minors, NRI accounts, HNI accounts, and corporate accounts.
• Educational resources include IIFL Research, IIFL School, and IIFL Blog.
• Market access includes trading on BSE, NSE, MCX, and NCDEX.
• Safety and security features include SEBI regulation compliance and ISO 27001 certification.
• IIFL Securities complies with all SEBI regulations and has no significant history of violations.

Services Offered:

• IIFL Securities provides services in Demat and trading accounts, mutual funds, ETFs, IPOs, derivatives, PMS, margin trading, NRI accounts, and HNI accounts.

Pros:

• Competitive brokerage charges.
• Strong financial backing with a wide range of services.

Cons:

• The platform can sometimes be slow during peak trading hours.

Angel One

Angel One, previously known as Angel Broking, is a well-regarded discount broker offering zero brokerage for equity delivery and direct mutual funds.

It charges flat rates for intraday and F&O trades, combining competitive pricing with comprehensive research and advisory services, making it a top choice for both novice and experienced traders.

Key Features:

• The annual maintenance charge is ₹150 for both trading and Demat accounts.
• Intraday charges are 0.015% on buy orders and 0.003% on intraday trades.
• The platform offers a variety of investment options, including stocks, ETFs, commodities, mutual funds, fixed income, futures and options, and IPOs.
• There is no fee for opening an account.
• Brokerage charges for delivery trades are 0.025% on buy orders and 0.0125% on sell orders.
• Available tools include Angel One Trade, Angel One App, SpeedPro Advanced Charting Tool, and Angel ARQ Investment Advisory Tool.
• Customer support is provided via live chat, phone, and email.
• The platform is user-friendly and offers a variety of tools and educational resources, including a mobile app, making it ideal for beginner investors.
• Account types include Demat accounts, trading accounts, margin accounts, intraday trading accounts, and two-in-one accounts.
• Educational resources include free online courses on investing, a Demat account opening guide, trading tutorials, market news, and analysis.
• Market access includes trading on NSE, BSE, MCX, and NCDEX, with various products including stocks, commodities, currencies, futures and options.
• Safety and security features include two-factor authentication, data encryption, secure servers, and SEBI registration.
• Angel One complies with all SEBI regulations and has no history of significant violations.

Services Offered:

• Angel One offers Demat and trading accounts, investment options, research and advisory services, trading tools and platforms, IPO investing, margin trading, NRI accounts, and HNI accounts.

Pros:

• Attractive pricing structure with low brokerage fees.
• Dedicated relationship managers for personalized support.

Cons:

• A limited number of order types are available on the platform.

AxisDirect

AxisDirect, a subsidiary of Axis Bank, is a full-service broker recognized for its user-friendly trading platform, comprehensive research and advisory services, and a wide range of investment products.

It caters to a diverse clientele, from beginners to experienced investors, offering a seamless trading experience and tailored investment solutions.

Key Features:

• The annual maintenance charge is ₹250 per annum, free for the first year.
• Intraday charges are 0.05% or ₹20 per executed order, whichever is lower.
• The platform offers various investment options, including equity, derivatives, commodities, currency, insurance, FDs, loans, IPOs, and bonds.
• There is no charge for account opening.
• Brokerage charges are a flat ₹20 per executed order across all segments, including equity delivery.
• Available tools include RING PC, Axis Direct Mobile App, DIRECTTrade, Swift Trade 3.0, and Axis Direct Wise Advisor.
• Customer support is available 24/7 via phone, email, and chat.
• The platform is user-friendly, offering trading platforms with intuitive interfaces.
• Account types include resident Indian accounts and NRI accounts.
• Educational resources include free online courses on investing, a Demat account opening guide, trading tutorials, market news, and analysis.
• Market access includes BSE, NSE, MCX, and NCDEX.
• Safety and security features include SEBI regulation compliance and ISO 27001 certification.
• AxisDirect complies with all regulatory requirements and has no significant history of violations.

Services Offered:

• AxisDirect offers services including investment and trading ideas, financial planning, loans and general insurance, tax planning, will drafting, and trading with its 3-in-1 Demat account, trading account, and savings account.

Pros:

• User-friendly trading platform with advanced charting tools.
• Wide range of investment products across various asset classes.

Cons:

• Higher brokerage fees compared to discount brokers.

Geojit

Geojit is a good option for beginners just starting to invest or looking for a low-cost option with a wide range of investment products.

They offer a variety of stocks, mutual funds, ETFs, and options at competitive brokerage charges in India.

Key Features:

• There is no annual maintenance fee for trading accounts.
• Intraday charges are 0.03% of the transaction value or ₹20 per order, whichever is lower.
• The platform offers various investment options, including equity, derivatives, currency, mutual funds, IPOs, and bonds.
• The account opening charge is ₹100 for opening a Demat account.
• Under the Online Traditional Plan, brokerage charges are 0.30% for equity delivery, 0.03% for equity intraday, 0.01% for equity futures, and ₹50 per lot for equity options. The G-Trade Max Plan offers ₹40 per lot for equity futures and ₹20 per lot for equity options.
• Available tools include FundsGenie for mutual funds, the Selfie advanced trading platform, the Trader X trading management and research tool, the Options Lab, the Strategy Builder, Multi-leg Orders, Options Chains with Greeks, a Payoff Chart, an OI Tool, and Margin Calculators.
• Customer support is provided via phone, email, and chat, with around 500 branches across India.
• The platform is user-friendly, with an easy-to-navigate online trading portal.
• Account types include Basic Service Demat Account, Regular Demat Account, and NRI Demat Account.
• Educational resources include webinars, tutorials, and research reports.
• Market access includes trading on BSE, NSE, and other major exchanges.
• Safety and security features include two-factor authentication for secure login. Geojit is a SEBI-registered broker and a member of NSE, BSE, MCX, and NCDEX.
• Geojit complies with all regulatory requirements and guidelines set by SEBI, and no major violations have been reported in recent years.

Services Offered:

• Geojit provides services in Demat and trading accounts, mutual funds, ETFs, IPOs, derivatives, commodities, PMS, NRI accounts, HNI accounts, margin trading, IPO investing, and algorithmic trading.

Pros:

• Strong brand reputation with an extensive network of branches for personalized interactions.
• Low-cost investment options are suitable for beginners.

Cons:

• The platform can be complex for new users.

Fyers

Fyers is a feature-rich discount broker trading platform that provides everything needed to make informed trading decisions. With advanced charting tools, technical indicators, and fundamental analysis tools, Fyers is a top choice for traders looking for a comprehensive trading experience.

Key Features:

• The annual maintenance charge is ₹400 per annum.
• Intraday charges are ₹20 per executed order.
• The platform offers investment options in NSE’s equity cash, F&O, and currency derivatives segments.
• The account opening charge is free.
• Brokerage charges are a flat ₹20 per executed order.
• Available tools include Fyers Web, Fyers One desktop trading platform, Fyers Mobile App, advanced charting, technical screens, stock screens, and more.
• Customer support is provided via email, phone, and chat.
• The platform is user-friendly, offering an intuitive online trading and investment experience.
• Account types include trading and Demat accounts.
• Educational resources include thematic investing, research reports, and blogs.
• Market access includes trading on NSE.
• Safety and security features include SEBI registration and membership with major stock exchanges like BSE, NSE, and MCX.
• Fyers complies with all SEBI regulations and has no reported violations.

Services Offered:

• Fyers provides services in Demat account management, equity trading, commodity trading, currency trading, options, futures, mutual funds, SIP (systematic investment plan), and more.

Pros:

• Advanced charting tools and technical analysis capabilities.
• Innovative features such as heatmaps and backtesting.

Cons:

• Limited order types are available on the platform.

Choice Broking

Choice Broking is a full-service broker known for its personalized service approach, extensive research and advisory services, and a wide range of investment products. It caters to a diverse clientele, from beginners to experienced investors, offering tailored investment.

Key Features:

• The annual maintenance charge is ₹300 per annum.
• Intraday charges are ₹20 per executed order.
• The platform offers various investment options, including equity, derivatives, currency, and commodity segments at BSE, NSE, and MCX.
• There is no charge for opening an account.
• Brokerage charges are a flat ₹20 per executed order.
• Available tools include Choice FinX (formerly Jiffy) as the flagship online trading platform, the Choice FinX mobile app, and Investica for mutual fund investments.
• Customer support is provided through email, phone, and chat.
• The platform is user-friendly, offering an intuitive online trading and investment experience.
• Account types include trading and Demat accounts.
• Educational resources include research reports, expert advisory services, and trading calls.
• Market access includes trading on BSE, NSE, and MCX.
• Safety and security features include SEBI registration and membership with major stock exchanges like BSE, NSE, and MCX.
• Choice Broking complies with all SEBI regulations, maintaining transparent pricing with no hidden charges.
• The company has no history of significant violations of SEBI regulations.

Services Offered:

• Choice Broking provides services in margin trading, portfolio management, commodity trading, equity trading, currency trading, futures, options, SIPs, mutual funds, insurance, wealth management, and loans against shares.

Pros:

• Competitive margins for intraday and F&O trading.
• Personalized guidance and support for investors.

Cons:

• The platform can be complex for beginners.

SMC Global

SMC Global is a full-service broker known for its focus on research and providing investment advice. It primarily caters to experienced investors looking for advanced trading solutions.

SMC Global offers a wide range of investment products and provides personal guidance through experienced relationship managers.

Key Features:

• The annual maintenance charge is ₹400 per annum.
• Intraday charges are ₹20 per executed order.
• The platform offers various investment options, including equities (cash and derivatives), commodities, and currency segments at the BSE, NSE, and MCX.
• There is no charge for opening an account.
• Brokerage charges are a flat ₹20 per executed order.
• Available tools include SMC Privilege, SMC Auto Trender, SMC’s Online Trading Platform, SMC’s Mobile Trading App, and SMC’s Desktop Trading Terminal.
• Customer support is provided via email, phone, and chat.
• The platform is user-friendly, offering a seamless online trading and investment experience.
• Account types include trading and Demat accounts.
• Educational resources include research, financing, depository services, insurance broking (life and non-life), clearing services, mortgage advisory, and real estate advisory services.
• Market access includes trading on BSE, NSE, and MCX.
• Safety and security features include SEBI registration and membership with major stock exchanges like BSE, NSE, and MCX.
• SMC Global complies with all SEBI regulations and has reported no major violations.

Services Offered:

SMC Global provides services in equities, derivatives, commodities, and currency trading, wealth management, distribution of IPOs, mutual funds & and income products, depository services, clearing services, real estate advisory, forex advisory, NRI investment, NBFC financing, alternate investment fund (AIF), research services, investment banking, insurance broking, mortgage advisory, FPI investment, and NPS services.

Pros:

• Comprehensive research and advisory support for informed decision-making.
• Personalized investment recommendations aligned with client objectives.

Cons:

• Higher brokerage fees compared to discount brokers.

Alice Blue

Alice Blue is a top Demat account provider and a promising discount broker recognized for its user-friendly trading platform. It offers zero brokerage for equity delivery and direct mutual funds and flat brokerage for intraday and F&O trades.

Alice Blue mainly caters to cost-conscious investors and beginners seeking a simplified trading experience.

Key Features:

• The annual maintenance charge is ₹400 per year.
• Intraday charges are ₹15 per order.
• The platform offers investment options in equity, currency, and commodity segments, as well as IPOs, F&O (futures and options), and mutual funds.
• There is no charge for account opening.
• Brokerage charges are ₹15 for intraday and F&O trading, along with free equity, IPO, and mutual fund investments.
• Available tools include Alice Blue Mutual Funds, Alice IPO, Optimum Semi Algo Trading Platform, Smallcase Thematic Investment Platform, Sensibull Options Trading Platform, Tickertape for stock and investment research, and TradeAction for buy-and-sell signals software.
• Customer support is provided through phone, email, and chat.
• The platform is user-friendly, offering an easy-to-navigate interface.
• Account types include regular trading accounts, Demat accounts, and trading accounts for minors.
• Educational resources include webinars, tutorials, and articles.
• Market access includes membership with several exchanges, including MCX, NSE, NCDEX, MCX-SX, BSE, and CDSL.
• Safety and security features include two-factor authentication, data encryption, secure servers, SEBI registration, and registration with major indices such as NSE, BSE, NCDEX, and MCX.
• Alice Blue adheres to all regulatory requirements set by SEBI, and no major violations have been reported.

Services Offered:

Alice Blue provides services in the trading of stocks, commodities, and currency, demat accounts, IPO investment, mutual funds, thematic investment, options trading, buy-and-sell signals, API for algorithm trading, and advisory services.

Pros:

• Free API for Algo trading.
• Bracket and cover orders for futures and options.
• Predefined technical and fundamental analysis strategies.

Cons:

• Occasional technical glitches and customer support issues.

Definition of a Stock or Share Broker

A stock or share broker company simplifies buying and selling stocks in the financial market. They offer access to the stock market, execute trades efficiently, and provide research tools.

Brokers also assist with managing portfolios and ensuring diversified investments. Their expertise and guidance help traders make informed investment decisions and maximize profit.

Documents Required to Open a Trading Account with a Stockbroker in India

• PAN Card
• ID Proof: Aadhar card, passport, or driver’s license.
• Address Proof: Such as Aadhar card, passport, or utility bills.
• Bank Statements or Cancelled Cheques
• Income Proof: Such as salary slips or income tax returns.
• Duly Filled Application Form
• Cheque for Account Opening
• KYC Documents
• Trading and Demat Account Agreement

What to Consider When Choosing a Broker’s Trading Platform and Tools

While choosing a broker’s trading platform and tools, consider the following things:

• User-friendly interface
• Fast execution speed
• Research and analysis tools
• Charting features for analyzing stock trends and patterns
• Availability of a mobile app
• Compatibility with various order types, including market orders, limit orders, and stop orders
• Real-time market data for timely decision-making
• Customization options
• Risk management tools, like stop-loss orders and risk assessment tools
• A responsive customer support team
• Solid security measures

Conclusion

Choosing the right stockbroker is crucial for your trading and investment success. With so many options available, it is essential to consider factors like brokerage fees, platform usability, customer service, and the range of investment products offered.

Whether you are a beginner looking for a simple and affordable option like Paytm Money or a seasoned investor requiring advanced tools and personalized support from a full-service broker like ICICIdirect or HDFC Securities, there is a broker out there to meet your specific needs.

RELATED ARTICLES

• Vodafone Idea Faces ₹363.28 Crore GST Penalty – Legal Battle Ahead?
• Electrotherm India Gets ₹33.67 Crore Relief in ED Case – Court Ruling Explained
• Nestlé India Q3 FY25 Results – Revenue Grows 3.21% YoY, Net Profit Up 6.2%
• Fintechzoom NIO Stock Forecast: A Deep Dive into the Future of EV Investments
• Adani Ports Q3 Results: Key Insights, Stock Targets & What to Expect

People May Ask

What is the difference between a full-service broker and a discount broker?

A full-service broker offers a wide range of services, including financial planning, investment advice, and research, usually at a higher cost. On the other hand, a discount broker provides lower-cost trading services with minimal additional services.

How do I choose the right broker for my needs?

Consider factors like brokerage fees, platform usability, customer service, and investment product range. Also, ensure the broker is SEBI-registered and has a good track record of compliance.

What documents are required to open a trading account?

You will need a PAN card, ID proof, address proof, bank statements or cancelled cheques, income proof, and KYC documents.

Are online brokers safe to use?

Yes, as long as they are SEBI-registered and comply with regulatory standards, online brokers can be safe and reliable.

Can I trade in international markets with Indian brokers?

Some Indian brokers, such as ICICIdirect, Kotak Securities, and Groww, offer access to international markets, allowing you to trade in US stocks and other foreign securities.