If you are looking for the best stock broker in India, then you are at the right place. This list of Best Stock Brokers is based on customer size of the stock broker, features, pricing, and customer support.
Table Of Contents
- Best Stock Broker In India 2022
- Which Stock Broker in India is Best?
Best Stock Broker In India 2022
1. Upstox Stock Broker
In my opinion, Upstox is the overall best stock broker in India for 2022. Upstox is the largest stockbroker in the market with an active client pool of almost 40 lakh, translating to roughly 18 percent of the total market share. Shareholders/Investors of this company include Ratan Tata and GVK Davis, adding to the credibility of the stockbroker. It charges absolutely nothing for making a trading account and for equity delivery,
It charges Rs 20 per order or 0.05 percent as brokerage on intraday trading and equity futures. Trading in Equity Indra-day, Commodities and Currency Derivatives, Equity F&O, Equity Indra-day is only through the paid service of Upstox, Upstox Pro.
Mobile trading applications are available for Android and IOS, and no extra software charges have to be paid. Upstox Pro offers Upstox Pro Web Trading Platform, Upstox Developer Console and Upstox Option Chain Tool, etc. The uses of the following are given below.
Upstox Pro Web Trading Platform helps clients navigate the share market with ease by providing many indicators to monitor the market. Upstox Developer Console, another platform, helps you build your trading applications by using coding languages such as Python.
Upstox Option Chain Tool allows traders in almost every way possible by helping them find the details about Future Prices, spots, vertical comparison of rate, circuit levels, Open High & Low Close, and depth of the market. It also helps with measuring volatility and open interest.
Check Upstox.com or Read Upstox Review For 2021.
2. Zerodha Stock Broker
Zerodha is the largest best stock broker in India 2022. It has an active client of almost 50 lakh, which is around 15 percent of the total market share. It is undoubtedly the biggest name in the stockbroker market right now, and for a good reason. It is an excellent option for those who want to make big volume trades and don’t worry about share trading brokerage taking a sizable chunk out of every transaction.
This is so because Zerodha offers flat-free discount brokerage services to all its clients to invest in IPOs, equity, commodity, mutual funds, etc. In addition, it doesn’t charge any brokerage on direct mutual funds and equity delivery trades and only charges the lowest amount of either Rs20 or 0.03 percent of any intraday trades.
Zerodha charges Rs 200 for opening an online trading and Demat account and Rs 100 for a commodity account. Opening an offline account will set you back about Rs400; the account maintenance charges (AMC) for a Demat account are 300 for a year. There are no AMC charges on a trading account.
There is a multitude of trading software created by Zerodha for a better experience for their clients. These include – Kite 3.0 (Online Trading Platform), Kite Android/IOS (mobile Trading App), Zerodha Coin ( Mutual Funds Investment), and many more. It is the most popular, safest, and cheapest stockbroker in the market right now. However, one bad aspect of it would be their sub-par research capabilities which need improving.
Check Zerodha.com or Read Zerodha Review For 2021.
3. Angel Broking Stock Broker
Angel Broking is the third biggest stockbroker in India, with an active client count of 14.5 Lakh users and a market share of 8.08 percent. Angel broking offers completely free one-time trading account opening and Demat opening. It also doesn’t charge an Annual Maintenance Fee on the trading account and only charges AMC on the Demat account of the trader.
It has an exclusive program called the Angel iTRADE Prime which offers a flat fee of Rs 20 per trade on all types of trades like Intraday, F&O, Currencies & Commodities except for Equity Delivery.
This platform is well known for its investment advisory tool called Angel ARQ. Angel ARQ is built to specifically suggest investment decisions to the trader based on a rule-based investment engine which it works through. It is an excellent advisory tool for new investors who don’t know enough about the market.
The following are the various trading software Angel Broking gives its traders access to Angel Broking Trade. This simple online trading platform can be accessed through a browser from almost any device. Trading on commodity markets and equity is done through this site.
Angel SpeedPro, a trading terminal built to provide updates to the trader and make the market more accessible.
Angel Broking Application (Mobile Application), Equity and commodity-based trading can be made on this application through an android or IOS device.
Even though this stock broker offers a wide variety of good services, it is worth noting that this stockbroker charges call and trade an extra Rs20 per order.
4. ICICI Direct Stock Broker
ICICI Securities stock broker in India 2022 is just behind Angel Broking in terms of the number of active clients, with the number being 14.3 Lakh and the market share percentage 7.98 percent. ICICI Direct is obviously part of the ICICI group, enabling it to offer the elusive 3-in-1 account service, which was not available in any of the previous stock brokers above.
This service enables the trader to have a great experience by having a Bank account, trading account, and a Demat account all in one place. There are multiple brokering plans that a trader can choose from, such as
ICICI I-Secure Plan plan offers flat brokerage in the form of percentage notwithstanding turnover value with equity intraday being 0.275 percent and equity delivery charged 0.55 percent brokerage.
The ICICI Direct Prime Brokerage Plan uses an eATM facility and helps to reduce the number of brokerage charges. The plan has three different variants with a yearly fee of Rs 299 to Rs 2999.
The Lifetime Prepaid Brokerage Plan gives discounted brokerage rates and cheaper transaction costs. There is an upfront brokerage cost that will be valid for 15 years. There are six different plans to choose from.
Offering brokerage-free equity futures trading. Charges are Rs 20 per executed intraday order brokerage and 0.55% brokerage on equity delivery. Neo Plan is inherently a flat rate brokerage plan. It also includes trading tips and research.
One thing to note about ICICI direct is that even though it has a vast variety of features, it generally tends to be on the more expensive stockbroker side.
5. HDFC Securities Stock Broker
HDFC Securities stock broker in India has the fifth-most number of traders, at 9.4 lakh with a market share percentage of 5.25. HDFC is similar to other stockbrokers like ICICI and Kotak Securities as they all can offer the 3-in-1 feature to their clients.
This includes a bank account, trading account, and the Demat account for a much better experience. The process is that after a trader buys stocks, the money is withdrawn from their bank account then the shares are deposited in the Demat account.
After stocks are sold using a trading account, the shares are withdrawn from the trader’s account, and the money gets deposited in the bank account.
The all-inclusive account opening fee for trading account, Demat account, and bank account with HDFC is 999.HDFC offers multiple trading platforms like,
HDFC Securities Website (Web-based Trading platform), ProTerminal (Stock Analysis & Trading Platform), Mobile Trading App, Blink, Arya (Voice-Enabled Investing), and so on.
6. 5Paisa Capital Stock Broker
5Paisa Capital is one of the most prominent stockbrokers in India 2022 and also one of the fastest-growing ones. It has 8.4 Lakh active clients, governing a market share of 4.7 percent. It is publicly traded and offers discount brokerage services to investors in India.
5Paisa can be used to trade in equity, commodity, and currency at BSE, NSE, and MCX. The brokerage charge of trading is 20 per trade irrespective of the exchange, size, or kind.
There are three plans offered by 5paisa: Basic Pack, Power Investor Pack, and Ultra Trader Pack. All these plans provide the trader the benefit of zero account opening charges and a meager flat fee on trading.
5Paisa boasts one of the most value-for-money brokerage charges on trading, with the 20Rs flat-free charge going down to 10Rs using value add packs, thus making it the lowest charge in the industry.
The value-added packs enable the trader to make 100 free trades every month, with only the 101st trade subject to brokerage charges. In addition, it is also one of the only stockbrokers to provide vital research and advisory on thousands of companies.
It has three different trading software – one for android/IOS mobile devices, a browser-based trading website, and the 5paisa trade terminal. Overall, five paise is one of the best stock brokers out there right now. However, it still has some misgivings like no option of a 3-in-1 account, high demat debit transaction charges, and higher transaction charges in exchange compared to other brokers.
Check 5Paisa.com or Read full review here: 5Paisa Review.
Sharekhan stock broker in India 2022 is at the eighth spot in terms of an active number of clients with 6.7lakh and has a market share of 3.76 percent. Sharekhan has seen an incredible rate of growth in the last decade. However, it’s a very well-done online trading platform and has a chain of franchises located in almost every part of India, and has a presence in the UAE and Oman.
Sharekhan offers ‘Sharekhan TradeTiger,’ a very popular trading terminal for retail investors. Sharekhan trade tiger is similar to a standard Broker Terminal that allows frequent traders to place their orders and execute them at high speed. It also provides live data on the same screen to help the users.
Sharekhan’s ‘ShareMobile’ platform offers trading facilities in the form of a mobile application. They are made available for iPhone, iPad, Blackberry, Android, and other phones. It has two types of accounts – classic and trade tiger account.
A classic account enables the investor to buy and sell stocks online with features like Integrated Banking, multiple watch lists, Demat and digital contracts, and Instant credit & transfer. It also offers free trading through dial and trade features using a phone, where two numbers for placing orders are given.
Trade tiger account is an application made specifically for traders who trade daily and in multiple quantities during the day’s trading session. Some features of this account are a single platform for multiple exchange BSE & NSE. Hotkeys are similar to a broker terminal and connections with 12 banks for online transfer of funds.
8. Groww Stock Broker
Groww is the 9th most popular stockbroker in the Indian market and has an active trader count of 6.5 lakh clients with a market share of 3.65 percent. Groww charges lower of Rs 20 or 0.05% per executed trade.
It also offers a Free Mutual Fund service with no charges in investing or redemption of mutual funds. It has its trading platform called Groww that offers a great trading experience. It is a safe and secure app with 128-bit encryption. It is one of India’s fastest-growing platforms with a strong customer base.
It boasts the availability of features such as zero commission direct mutual funds, instant online account opening, maximum brokerage charge of 20 per trade, an investment option in US Stocks and gold, and a feature to switch external mutual funds to direct mutual funds.
Opening an account at Groww is free and has zero maintenance charges. Groww is an online broker and has no physical branches. The company doesn’t provide an account opening form on its website, and also, it has a significant downside of not offering offline account opening.
It has both kinds of software – a browser-based site that serves as an online trading platform and a mobile application that enables you to trade on the go.
9. Motilal Oswal Stock Broker
Motilal Oswal is within the ten most popular stockbrokers in India with an active user count of 5.4 lakh and a market share of 3 percent. It has a hefty charge of 1000 for opening an account and comes in three different types.
Default Account is standard trading, and Demat account offers a myriad of investment options. It offers trading, investment in Equity, Commodity, Currency, Mutual Funds, Insurance, Fixed Income Products, etc. There are two types – value pack and margin pack.
Value Pack Account gives significant discounts in brokerage rates. It has a wide range of value packs available, and the user can reap the benefits of placing trades at lesser charges. These packs are suitable for traders who want to make many daily trades.
Margin Pack Account is the other account that is an upfront committed margin account and gives significant brokerage discounts. It has a wide range of margin packs available, and the customer can place trades at a reduced charge.
Motilal has many years of experience in this industry, and Pro-stock provides a wide range of investment choices. One important thing to remember is that they have very high and expensive brokerage compared to discount brokers. One important thing to remember is that they have very high and expensive brokerage.
10. ProStocks Stock Broker
ProStocks are definitely the underdog in this Best stock broker in India 2022 list and have a long way to go before having the user base and market share percentage of all others on this list. So to hope to compete with all the other stockbrokers, they had to catch our eye in some way.
They have done just that by offering exclusive deals that may benefit you very well if you have that particular need. For starters, Pro stock is famous for its unlimited trading plan, which offers unlimited derivative and equity trading at 899 per month or unlimited Currency Derivatives for 499/per month.
ProStocks also offers a Rs 15 per trade plan, which is popular among casual investors. ProStocks users only have to pay a flat Rs 15 per executed order irrespective of the trade size.
They also offer the cheapest call and trade amount in comparison to all other discount brokers. Pro stock enables its user to trade through the dealer at an additional Rs 10 per trade than other brokers who charge Rs 20 per trade extra for Call & Trade.
Overall, t is a good option but is a very new site, trade size, and most users would like to go with something proven and more credible.
Read the full review here: ProStocks Review.
Which Stock Broker in India is Best?
The amount of investors online has increased exponentially ever since the pandemic, and more and more people keep coming. In these times, the first step for everyone who wants to become a prospective trader is finding the perfect stockbroker. This is more easily said than done due to the sheer amount of brokers right now.
We have reviewed all of the most popular and widely used stockbrokers right now and looked at what they do best and what they miss out on, as well as what charges they put on trades. After reading this article, you will be able to make an informed decision for sure.
We have taken a look at all of the most popular and best stock brokers in India right now and have provided you a brief overview of each of them to make a well-informed choice according to your needs and preferences.