Gone are the days when the stock market investors and traders had to depend solely on the newspapers to keep track of their investment. Just like any other industry, technology has positively impacted the financial industry, especially the stock market and the way investors buy and sell the stocks. The emergence of technology has brought forward online stockbrokers.
What Is Meant By a Stockbroker?
A stockbroker is an approved intermediary vendor of the financial instruments that anyone buying or selling the shares of companies publicly listed on a stock exchange needs to go through to buy or sell Stocks and also the other exchange-traded instruments for instance bonds and funds.
What Is Meant By Best Online Stockbrokers in India?
An online stock broker is nothing but an automated digital version of traditional stockbrokers, that facilitate the buying and selling of stocks through the online trading platform provided by them.
The emergence of discount brokers has brought forward an inexpensive and convenient way for investors and traders to access the financial markets.
Furthermore, the online stock broker has brought down the cost of buying and selling stocks. Therefore the investors do not have to invest a big chunk of money all at once in the name of stock broker’s fees.
The online stock brokers provide investors with an online trading platform with a variety of functionalities and a wide range of value-added services, for instance, real-time stock exchange price tracking, research services and much more.
There are several online stock brokers and each stockbroker has something different to offer to its customers ranging from research services to sell, education and buyback services. Thus, choosing the right online stock broker is very crucial to get the most out of your investments.
Top 10 Online Stockbrokers In India
We have enlisted the Best Online Stock Brokers in India. Just for you:
Now let us discuss all these online stock brokers in little detail below,
Zerodha, a discount broker founded in the year 2010 by Nithin Kamath is the first online stockbroking firm in India. Zerodha offers its customers disruptive pricing models with attractive brokerage charges. Its in-house technology has made it the best stock broker in India in terms of more than 9 lakh active retail clients and the largest stockbroker as far as the trading volume is concerned.
Zerodha is known for its innovative services flat rate brokerage and offers various trading platforms, which include Zerodha Kite Web, Zerodha Kite Mobile, Kite Connect Pi, and Zerodha Pi, Zerodha SMALLCASE, Zerodha Sentinel, etc. It has also launched a YouTube channel and learning application, Zerodha Varsity that educates its customers about the basics of the stock market. Additionally, it also has ‘Console’ – a back-office software. The best part is that all these trading terminals and software are offered to its customers free of cost.
Other than that, Zerodha, the first online stock broker in India facilitates Direct Mutual Fund investment through its online platform called ‘Coin’ that too free of charge. This online stock broker has also partnered with Thomson Reuters to provide research reports to investors.
Upstox which was previously known as RKSV Securities was founded by Raghu Kumar, Ravi Kumar, and Shriniwas Vishwanath, in the year 2012.
Upstox offers its customers facility to trade in various segments, for instance, currency, commodities, futures, options, and equities through its online trading platforms namely Upstox Pro Mobile Upstox Pro Web.
Additionally, Upstox also offers its 2 lakh customers ’trade academy’ through which it organizes offline seminars to educate the investors.
SAS Online, a discount broking arm of South Asian Stock Limited was incorporated in the year 2013 and with time has emerged as one of the best online stockbrokers of India.
This stockbroking company was initially started as a team of 3 people and gradually grew in terms of clients and working professionals. They are based out of Delhi and do not have any branches thereby leveraging technology and saving costs on real estate, HR and other operational costs.This online stock broker has grown steadily acquiring new customers at a fast speed.
It is also a depository participant with NSDL. It facilitates its customers to trade in Equity cash, Intraday, futures and options, currency and commodities on NSE, BSE, and MCX.
5 Paisa a discount broking subsidiary of IIFL was founded in the year 2007 and is the second-largest discount broker in India that offers online investing and trading facilities to its customers.
The brokerage charges that are charged by 5 Paisa are very low that is only INR 10 per transaction. It facilitates customers to invest in a variety of financial assets like mutual funds and insurance. 5 Paisa offers its customers quite decent desktop and web-based platforms and also gives automated recommendations for mutual fund investments. Moreover, it has also collaborated with Marketsmith Online to offer it’s 1,22,500 customers high-quality research reports. This discount broker has separated from its parent company and is now functioning as a separate entity. It is the only discount broker, which is listed on the stock mark
ICICI Direct is the largest retail broking firm in India which offers a wide range of products and services to its almost 9 million retail and institutional customers.
ICICI Direct is the investment and trading firm of ICICI Securities whose MD CEO is Shilpa Kumar.
ICICI Direct.com is the flagship website of this online stockbroker company where customers can find a whole host of products and services like Derivatives Trading, Equity Trading, Mutual funds, Home Loans, Insurance Loans against Securities, NCD, Bonds, etc.
ICICI Direct also has an extensive offline presence with almost 200 branches spread across the country at 87 locations.
It facilitates the opening of a 3 in 1 account, which ensures a seamless transfer of funds. Furthermore, it also offers a high-performance trading application, ICICI Trade Racer.
Motilal Oswal Securities knew as Motilal Oswal Financial Services Limited a full-time service broker, founded by Mr. Motilal Oswal, Mr. Raamdeo Aggrawal and Mr. Ajay Menon in the year 1987. Initially, it was focused on institutional securities but has now emphasized on retail stockbroking. Motilal Oswal Financial Services (MOFSL), is a well-diversified financial service provider company that is little towards the premium range as far as the charges are concerned.
It has recently launched multiple brokerage plans. Along with that, it has an extensive range of web, mobile, desktop, smartwatch trading applications. Going further it also provides innovative customer service ‘ Motilal Oswal Genie’ that answers basic queries of customers.
Kotak Securities Limited (KS) is a subsidiary of Kotak Mahindra Bank Limited a renowned private-sector bank headquartered in Mumbai, Maharashtra and has a network of branches of almost 1300 branches in 350 cities.
Established in the year 1994, It is one of India’s largest brokerage and distribution houses in India. Kotak Securities has more than 25 years of experience in serving a diverse customer base of retail and institutional investors.
Kotak Securities facilitates online trading services along with an extensive range of secondary market broking services, which includes cash equity, equity, and currency derivative, gold exchange trading fund, initial public offering, mutual fund, exchange trading fund, bond, stock lending and borrowing mechanism, and future.
It offers a wide variety of trading platforms, which are compatible, also with lower bandwidth to its customers. Along with it, this full-service stockbroker facilitates the opening of a 3 in 1 account and Kotak NRI Trading Account.
Nonetheless, it has recently launched Free Intraday Trading, a low-cost intraday trading option.
Sharekhan, the oldest stockbroking firm of India is a brainchild of Shripal Morakhia a Mumbai-based entrepreneur. It was founded in the year 2000 to leverage newly introduced electronic trading in stock exchanges and dematerialization/demat of securities.
It has been rebranded as Sharekhan by BNP Paribas after it was bought by BNP Paribas for INR 2200 crore. It is headquartered in Mumbai with 153 branches that are spread across 675 cities of India, and execute almost 4 lakh trades every day dealing with over 25,000 business partners.
It has multiple trading platforms to offer to its 5 lakh active customer base. However, this full-service stockbroker has high brokerage charges.
Angel broking is one of the oldest stock broking companies in India, which was founded in the year 1987 by Mr. Dinesh Thakkar. This full-service stockbroker is headquartered in Mumbai and has a presence in more than 1000 cities all across India with almost 1 million customers.
Over the period, this online stock broker has emerged as one of the best retail stock broking houses in India and is a member of BSE, NSE and also NCDEX and MCX the two leading commodity exchanges in the country. It is also registered as a depository with CDSL.
It is well known for its investment engine, ARQ, which gives Robo advisory services to its customers. Additionally, it also offers the latest technology trading platforms, which include Angel Mobile App and Angel Eye. Furthermore, it also provides an expert research report facility.
HDFC Securities, a full-service broking subsidiary of HDFC Bank that was launched in the year 2000.
This online stock broking company facilitates 3 in 1 account opening and along with that it also offers highly technological and efficient online trading platforms to i6, 52,900 customers, thus enabling seamless trading.
In addition to all this, it also offers the facility of NRI Account opening. Additionally, it also provides an NRI account opening facility.
It is one of the best stock broking companies in India and therefore has a complaint percentage of 0.026%.
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