10 Best Stock Broker For Beginners In India 2021

The most serious part of the trading industry is choosing the best stock broker for beginners in India. Obviously picking the best stock broker for beginners in India helps you achieve more!

Best Stock Broker For Beginners In India

It is also absolutely crucial that you make an informed decision when it comes to saving your money or investing it somewhere. If you plan on investing money in the stock market, then that is where we come in handy. This article has a list of the best stock broker for beginners in India.  

This article will act as a guide for beginners and help them make the best choices. Each broker has its pros and cons. It is your decision at the end of the day to choose where you invest your hard-earned money and which broker suits your needs best. 

Best Stock Broker For Beginners In India 2021

1. Zerodha Stock Broker

Zerodha

Zerodha is another popular platform among Indians to open a Demat Account. The company charges a Flat Rs.20 or 0.03% (whichever is lower) per order. If not Upstox, Zerodha should be your ultimate option.

VISIT ZERODHA.COM

Zerodha is the best stock broker for beginners in India in 2021. Founded on 15th August 2010 by the brothers Nithin and Nikhil Kamath is Zerodha. It is currently the biggest stockbroker in India, with over 5 million clients contributing about “15% of all retail order volumes in India daily by trading and investing.” They handle many different investments like :

  • “Futures and Options”
  • “Commodity derivatives”
  • “Currency derivatives”
  • “Stocks & IPOs”
  • “Direct mutual funds”
  • “Bonds and Govt. Securities”

They charge zero brokerage fees. If you choose equity delivery investments like NSE, BSE then it is free of brokerage charge too. They also do not charge for Direct Mutual funds. However, they charge 20 rupees or 0.03% on Intraday and F&O trades. You will have to pay the lower fee depending on, the lower, either 20 rupees or 0.03%. 

One of their most significant advantages is that they have a self-explanatory website. You can visit the Zerodha website for more details. You can find all the required information on the website about brokerage fees, investment options, a guide for signing up for an account, etc. 

Click here: Zerodha Referral Code.

2. Upstox Stock Broker

Upstox is a well-known stock broker for beginners in India, with many famous companies like GVK Davis, Kalaari Capital and, Ratan Tata is backing up the company by investing in it. 

This is a “tech-first low-cost broking firm.” They offer many investment options like equities, digital gold, mutual funds, IPOs, futures, and options. 

Just like Zerodha, they too charge zero stock brokerage fees and zero commission charges on mutual funds and digital gold. However, you will have to pay a small fee of rupees 249 to make your account in Upstox, and you will have to pay 25 rupees plus 18% GST for maintaining your Demat account. If you want to trade intraday, futures, and options, you will have to pay a 20 rupees brokerage fee. 

If the payment as mentioned above seems confusing to you, you can visit their website, and there you can find a list of charges and costs that you will have to incur depending on your choice of investment. 

Click here: Upstox Referral Code.

3. Angel Broking Stock Broker

The next best stock broker for beginners in India is Angel Broking. This is a relatively old institution when compared to the other stock brokerage services discussed. This firm was founded in 1987. Being in the industry for years, they have high expertise and about 8500 franchisee and brokers in 900 cities all over India.

Very similar to the broker services already mentioned, Angel Broking also has a zero brokerage fee on stock and a 20 rupees fee on Intraday, F&O, currencies, and commodities. They also trade across different market segments like “BSE, NSE, MCX, MSEI & NCDEX with unlimited access to Trading Platforms.” 

They have a website and an app so that you know any information you need on it. Just download the app or visit the website for detailed information. 

4. IIFL/ India Infoline Stock Broker

IIFL Securities Discount Broker

IIFL is the oldest stock broker for beginners in India founded in the year 1995 by Nirmal Jain. The firm was called India Infoline earlier and was renamed IIFL Securities Limited. They deal with many investments and money-based services. 

They, too, have the same scheme of zero brokerage fee and 20 rupees fee on Intraday. They also have an additional scheme, where you will not have to pay AMC charges for the 1st year. However, the users of this financial service have one disadvantage, IIFL does not offer a 3 in 1 Demat account.

IIFL Securities Limited also deals with many other financial services like mortgages, House loans, etc. You can visit their website to get a better idea about the different services available and look for the best ones for you. 

5. Motilal Oswal Stock Broker

Motilal Oswal

Motilal Oswal, one of the best stock brokers for beginners in India is a firm that handles many financial services, just like IIFL. They were also ranked highly in the Asia Money Brokers poll 2020. Some of the financial services offered by them are investment banking, private wealth management, broking and distribution, home finance, and many more. 

They offer a 3 in 1 account offer of “banking+trading+demat (accounts).” There is no specific information regarding their charges, but you can contact them through the information present on the website and ask for more information regarding the fee or charges. 

In fact, there have been many problems revolving around the fact that the charges made to the customer are unclear and are also not explained by the salesperson clearly. Some of the users say that it is really high. So, make sure you know what you are being charged for before paying. 

A team of experts leads each financial facility at Motilal Oswal; this ensures that they can provide their customers with the best services. You can also check out the information regarding the team members on the very detailed website. 

6. 5paisa Stock Broker

FREE DEMAT ACCOUNT
5 Paisa Free Demat Account

Similar to Zerodha and Upstox, 5Paisa also charges a Flat Rs. 20 per order. This makes them another affordable platform in the market. 5Paisa also offers you a free Demat account for a limited time.

VISIT 5PAISA.COM

Similar to the other services, 5paisa also thrives on the low brokerage pricing technique. They deal with services like mutual funds, stocks, IPO, derivatives, and many more. 

They, too, have a zero commission on mutual funds schemes and a 20 rupee per order on stocks, commodities, and currency. 

They have a significant advantage where you can get real-time portfolio analysis on “gains/ losses, compared with benchmarks, suggestions to improve performance for your risk appetite.”

However, some disadvantages to 5paisa are that they do not have any monthly packages, and users have reported that the customer service is a little bad. The suggestions are automated robotic ones so that you may lack a real-life touch on them. You can find more information about them on their app or other social media platforms like Facebook and Youtube. 

7. ICICI Direct Stock Broker

ICICI Direct

We Indians are well aware of ICICI Bank; It is a well-established banking firm that we use regularly. Now, they also provide stock trading services, IPOs, and mutual funds. Like some of the mentioned firms above, ICICI Direct also provides a 3 in 1 interlinking, Demat, and savings account. 

According to their website, they provide hassle-free, fast, and flexible options for you. The other firms also have zero broking charges and 20 rupees charge on intraday trading and commodity & currency derivatives. 

You can visit their website or download their app to find out more information. The website is a very clear and detailed one, so you will be able to understand everything you need to know and pay before you sign up for an account. 

8. Edelweiss Stock Broker

Edelweiss Demat Account

Edelweiss has been in this industry since 1995, based in Mumbai. They used to do insurance broking too, but recently they sold their insurance broking division. 

The information about charges or the fees by the company is not available. However, the website has clear instructions and extra information like “What’s happening in the stock market?” These articles and news help you keep up with the industry. 

9. Sharekhan Stock Broker

Sharekhan
Sharekhan

Just like almost all the services, Sharekhan also has free call and trade services. They also do not charge for fund transfer from the trading account to the bank or from bank to trading account. 

They have many prepaid schemes which are advantageous to the customers. They also have many videos and audios about general stock brokering information. This can be very useful information as it gives insights into the industry. 

Some disadvantages of Sharekhan are that it does not offer a 3 in 1 account offer, and they have higher brokerage charges compared to other services like Zerodha or Motilal Oswal.

10. Kotak Securities Stock Broker

Kotak Securities
Kotak Securities

Kotak bank is also another well aware and familiar banking firm in India. Kotak securities provide different investment options like stocks, tax-free bonds, IPOs. 

They are also one of the firms that offer the 3 in 1 account, and they also accommodate people who have a slow internet connection. They also have an online chat facility where you can ask any kind of doubts and queries instantaneously. 

Some disadvantages are that they do not have support for the commodity segment, and they also charge much more than other services mentioned in the article.

You can notice that zero brokerage commission or lower brokerage will be a common theme for all these different types of broker agencies. This is possible because of technology. In today’s fast-paced world, we are all unknowingly pushed towards learning technology and adapting to it. 

Before you choose your stock broker, there are terms that you need to familiarise yourself with. These are commonly used words in the industry, and you need to know them before you give your money anywhere. 

Important Terms:

  1. Broker – A broker is someone or, in this case, an online interface that acts as a mediator between you and the buying and selling of stocks online. 
  1. Stock – an online certificate or a representation of the percentage of ownership of a company by an individual.
  1. Portfolio- Collections of all the investments made by the investor. 
  1. Demat Account – This account is essential. It is similar to a bank account. A Demat account helps the shareholders hold their shares in an electronic form. However, you do not need to own any shares to open one; you can have zero balance. 
  1. Trade Account – This account helps you with the stock trading activities by allowing you to buy and sell your shares at any needed moment. Once you sign up for this account via your broker or a firm, they will give you a unique id, which allows you to conduct transactions anytime. 

(There are several more essential terms, but these five are right not enough to understand the base of this list of brokers)

Now that you have been familiarised with the terms, let us dive into the different brokering services. You can pick anything you prefer. 

Verdict

Since these companies operate online, they cut down on many unnecessary costs which they will have to incur if they were dealing physically. Hence, this will cause them to provide these services cheaper and make it more beneficial for the customers. 

Before you choose the firm that you are going to invest in, do thorough research. Create a pros and cons list and see which firm gives you the best schemes and choices for your needs. Research is fundamental; learn everything you need to know about the industry and the terms before diving into it because money is not something you can play with. 

You can see that every one of these companies offers different types of investment options. So, choose which investment suits you the best and gives you the returns that you expect. This is a very crucial decision for you to make. Hence, make sure all your requirement boxes are checked before you give your money. 

This article only covers the basic points about the firms, and this list was not made in any particular order. However, you will be able to see that some companies have more pros than others. We hope this article about the best stock broker for beginners in India helps you to make some of the most important decisions of your life! We wish you all the best; you will surely prosper in everything you choose!

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