Top 10 Stock Brokers in India 2019

Stock Brokers are intermediaries in the stock market which play an important role in usual stock market activities like buying and selling of stocks. Apart from that, they should also provide suitable assistance in the form of research which helps customers to find suitable companies to invest in, provides margin to help them invest in them, builds easy to use intuitive trading platforms, provides customer service that satisfies all their needs and charges a very low brokerage for it.

However, it is not always possible to find all these qualities in one broker which is why consumers need to weigh the pros and cons of choosing each broker and compare stockbrokers and then make a choice.

Choosing a broker can be difficult as you can do all the research in the world and still end up with a broker that doesn’t really understand your needs. It is similar to choosing between apples and oranges, meaning it depends more on your personality, experience, capital requirements and skillset. Hence, rather than going for a broker who ticks all the boxes one should look for someone who can assist them based on their requirements.

We at Best Broker India, have put together a list of brokers who qualify as best stock brokers in India based on the following factors:

  1. Research and tips
  2. Brokerage & Commission
  3. Margin/Exposure
  4. Trading Platforms
  5. Customer Service
  6. Presence across all major cities
  7. Range of trading products

Let’s find out who the best brokers in India are:

Zerodha

Founded in 2010 by Nithin Kamath Zerodha is an iconic brand and pioneer of discount broking in India. Zerodha not only tops the list of discount brokers in India but also appeals to traders for its low brokerage charges. Most importantly the reason Zerodha shines is because of its disruptive pricing models and in-house technology that have now made Zerodha the biggest stockbroker in India by active retail clients, and the biggest by trading volumes on the top Indian stock exchanges.

  • Active Clients: 909008
  • Total Complaints: 296
  • Complaints(%): 0.03
  • Free Tips: No
  • Online Trading Platform Performance: Good
  • Mobile Trading Platform Performance: Good

It is headquartered in Bangalore and has a physical presence in all major Indian cities. As of 2019, Zerodha is the largest retail stockbroker with over 8 Lakh active clients and contributes upwards of 10% of daily retail volumes across Indian stock exchanges. It has around 8.5 lakh active customers currently and aims to quadruple that number by 2020. It is very important to note that Zerodha has only relied on word of mouth publicity for marketing its brand. 

For detailed review on Zerodha, click here


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Motilal Oswal

Motilal Oswal Securities now known as Motilal Oswal Financial Services Limited (MOFSL) founded in 1987, is a full-time service broker with more than 1 million registered customers and presence in over 2200 locations across 550+ cities. The company was founded by Mr. Motilal Oswal, Mr. Raamdeo Aggrawal and Mr. Ajay Menon who is the MD & CEO of the broking and distribution businesses of Motilal Oswal Financial Services Ltd. (MOFSL). He is also the Whole Time Director of MOFSL. With Solid Research, Solid Advice as its guiding philosophy, Motilal Oswal clients are advised by the centralized advisory and dealing desk based in Mumbai.

  • Active Clients: 319138
  • Total Complaints: 213
  • Complaints(%): 0.06
  • Free Tips: Yes
  • Online Trading Platform Performance: Good
  • Mobile Trading Platform Performance: Good

Motilal Oswal Financial Services (MOFSL), is a well-diversified financial services company focused on wealth creation through knowledge. Motilal Oswal as a group of companies offers a wide range of services such as Retail Wealth Management (including securities and commodities broking), Portfolio Management Services, Institutional Broking, Home Finance, Private Equity, Investment Banking Services, and Asset Management.

Read a detailed review on Motilal Oswal here.
To access Motilal Oswal’s research tips on a real-time basis, just follow this link


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ShareKhan

Today when one thinks about online trading, the name Sharekhan seems phenomenally synonymous due to its broad range of financial products and a long list of services.

  • Active Clients: 509787
  • Total Complaints: 140
  • Complaints(%): 0.02
  • Free Tips: Yes
  • Online Trading Platform Performance: Good
  • Mobile Trading Platform Performance: Good

Shripal Morakhia a Mumbai-based entrepreneur founded his brainchild Sharekhan in the year 2000 to leverage newly introduced electronic trading in stock exchanges as well as dematerialization/demat of securities.

They are the fourth-largest stock-broker with a customer base of over 5 lakh active customers in India which is very significant. With 4800+employees working at 153 branches spread across 575 cities of India, they execute 4 lakh trades every day dealing with over 25,000 business partners. Rebranded as Sharekhan by BNP Paribas, it has become a fully owned subsidiary of BNP Paribas after being bought by them for Rs 2200 crore.

Find out more about Sharekhan here.
To access ShareKhan’s research tips on a real-time basis, just follow this link


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Kotak Securities

Kotak Securities Limited (KS) established in 1994, is a subsidiary of Kotak Mahindra Bank Limited a renowned private-sector bank headquartered in Mumbai, Maharashtra. It is currently one of India’s largest brokerage and distribution houses in India. As a stock broking company, Kotak Securities brings to you more than 25 years of experience in serving a diverse customer base of retail and institutional investors.

  • Active Clients: 437822
  • Total Complaints: 189
  • Complaints(%): 0.04
  • Free Tips: Yes
  • Online Trading Platform Performance: Good
  • Mobile Trading Platform Performance: Good

Kotak Securities along with online trading offers various secondary market broking services, such as cash equity, equity and currency derivative, mutual fund, initial public offering, exchange trading fund, bond, gold exchange trading fund, stock lending and borrowing mechanism, and future.

Click here for a detailed review on Kotak Securities.
To access Kotak Securities’s research tips on a real-time basis, just follow this link


Open Account and Start Trading


ICICI Direct

ICICI Bank Ltd was established in 1994 by the Industrial Credit and Investment Corporation of India (ICICI) which is a financial institution. It is a multinational banking and financial services company headquartered in Mumbai. ICICI Bank provides a whole host of services to its large array of clients with institutional and retail broking, merchant banking, and advisory services to corporates, financial institutions, high net-worth individuals, and retail investors in India. It operates in 3 major segments namely Investment & Trading, Broking & Commission and Advisory services.

  • Active Clients: 843975
  • Total Complaints: 171
  • Complaints(%): 0.02
  • Free Tips: Yes
  • Online Trading Platform Performance: Good
  • Mobile Trading Platform Performance: Good

One of its flagship offerings on the retail trading side is ICICI Direct due to which it became one of the largest retail broking firms in India by providing a wide range of products and services to its retail and institutional customers. ICICI Direct.com is the flagship website of the company where you can find a whole host of products and services like Equity Trading, Derivatives trading, Mutual funds, Home Loans, Loans against Securities, Insurance, Bonds, NCDs etc.

Read a detailed review on ICICI Direct here.
To access Kotak Securities’s research tips on a real-time basis, just follow this link


Open Account and Start Trading


Karvy Stock Broking

Investing in the stock market can be a very daunting task for those who are new to the world of equity trading. Hence, they are prone to making mistakes which can cost them as they go on this journey of trading in the stock market.

  • Active Clients: 266287
  • Total Complaints: 253
  • Complaints(%): 0.09
  • Free Tips: Yes
  • Online Trading Platform Performance: Average
  • Mobile Trading Platform Performance: Good

One of the most common mistakes is choosing the wrong broker, which makes it very important to choose a broker only after doing thorough research. This series of blogs aims to help people in choosing the broker which best meets your requirements.

For a detailed review on Karvy, click here.
To access Karvy Stock Broking’s research tips on a real-time basis, just follow this link


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Angel Broking

The Angel Group has emerged as one of the top 5 retail stock broking houses in India, having memberships on BSE, NSE and the two leading commodity exchanges in the country i.e. NCDEX and MCX. Angel Broking Ltd is also registered as a depository participant with CDSL. The group is promoted by Mr. Dinesh Thakkar, who started this enterprise as a small sub-broker in 1987 with a staff strength of 3 personnel. As on date, the group is managed by a team of 150 professionals & 1250+ support staff and a nationwide network comprising 54 branches, over 2900 + sub-brokers and business associates and 10000 terminals which cater to the requirements of 130000+ retail Clients.

  • Active Clients: 412809
  • Total Complaints: 242
  • Complaints(%): 0.09
  • Free Tips: Yes
  • Online Trading Platform Performance: Good
  • Mobile Trading Platform Performance: Good

Angel Broking has been awarded as a Major Volume Driver between 2005-2009, Best Retail House +Fastest Growing Equity House (2011, 2013) and also has the Largest Distribution Network (2009, 2013, 2014) due to its constant efforts to grow into a major player in the Indian finance industry.

Learn more about Angel Broking here.
To access Angel Broking’s research tips on a real-time basis, just follow this link


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Edelweiss Broking

Publicly Incorporated on 7th February 2008, Edelweiss Broking Ltd. Is a Mumbai based Full-Service Stock Broking firm which is a part of the Edelweiss Group, one of the largest firms in the Indian Financial Services domain.

They provide a large number of products and services to their retail, institutional and corporate clients.

  • Active Clients: 120132
  • Total Complaints: 102
  • Complaints(%): 0.08
  • Free Tips: Yes
  • Online Trading Platform Performance: Average
  • Mobile Trading Platform Performance: Good

Edelweiss Broking has the largest offline presence in the industry with over 4300 sub-broker and franchise offices all over India, which in turn enables them to serve a large customer who can use the large range of products and services on offer to them.

Read a detailed review on Edelweiss here.
To access Edelweiss Broking’s research tips on a real-time basis, just follow this link.


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Axis Direct

Axis Securities Ltd. is the stockbroking subsidiary of Axis bank. Axis security offers stockbroking services and other financial products to its customers through its brand, Axis Direct.

It was established in the year 2005 and ever since has emerged as India’s 4th largest providers of Demat accounts in India, with almost 75 branches spread across the country.

  • Active Clients: 419455
  • Total Complaints: 24
  • Complaints(%): 0.05
  • Free Tips: Yes
  • Online Trading Platform Performance: Average
  • Mobile Trading Platform Performance: Average

It has the highest active clients in India. Full-service broker has a membership with NSE, BSE, MCX-SX, MSEI, which makes it possible for its clients to trade across many financial segments as

  • Derivative Trading
  • Currency Trading
  • Equity
  • NCD
  • IPO
  • Mutual Funds
  • ETF
  • Commodity Trading

For detailed review on Axis Direct, click here.
To access Axis Direct’s research tips on a real-time basis, just follow this link


Open Account and Start Trading


Religare Online

Founded in 1982, Religare Securities Ltd. is a stock brokerage firm and a subsidiary of Religare Enterprises. They have over 800,000 clients offering their clients retail broking, depository services, and other investment services.

  • Active Clients: 159030
  • Total Complaints: 72
  • Complaints(%): 0.04
  • Free Tips: Yes
  • Online Trading Platform Performance: Average
  • Mobile Trading Platform Performance: Poor

They have a presence in over 500 cities through its various sub-brokers and branches. Religare offers its clients to invest in various segments like Equity, Derivative Trading, Commodity Trading, Currency Trading, and Mutual Funds, etc.

Religare is a member of BSE, NSE, NCDEX and MCX exchanges. It is also a depository participant with NSDL and CSDL.

For a comprehensive review on Religare, click here.
To access Religare Online’s research tips on a real-time basis, just follow this link


Open Account and Start Trading


This concludes our series on the best stock brokers in India. We have tried to break down these brokers based on the products they offer like trading platforms, research tips, brokerage and account opening charges and customer service.

If you are looking to open an account with these brokers, you just need to fill up your personal details on this form or go to this page and hit open account with the broker of your choice and you will get a callback from them in no time.