Top 5 Best Stockbrokers in India

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Best Stockbrokers in India in 2022: Do you want to open a demat and trading account but aren’t sure which stockbroker to go with? In this piece, we’ve got you covered. Today, we’ll go through the 15 top stock brokers in India (2022) for opening a demat and trading account.

This list of the best stock brokers in India will give you a quick overview of the top full-service and bargain stockbrokers in the country. All of these stockbrokers provide the greatest demat and trading account services. Let’s get this party started.

1. Zerodha:

Zerodha is India’s largest and best stockbrokers, with over 4 million clients accounting for +15 percent of daily retail trading volumes on Indian stock exchanges.

Zerodha, which launched in 2010, popularised the notion of discount brokerage in the Indian equity market by offering free brokerage to investors and a flat Rs 20 per trade brokerage rate for intraday and other trading. Competing with large competitors such as HDFC and ICICI is a difficult undertaking, but Zerodha has managed to maintain its position as the country’s top bargain broker. There are other discount broking competitors, but Zerodha, as the largest discount broking firm in India, has a massive customer base in India.

Here are a few crucial facts and characteristics to be aware of with Zerodha stock broker:

  • Long-term commitment/delivery Brokerage Fees: Rs 0
  • ZERO Brokerage on mutual fund investments
  • Intraday commissions: 0.01 percent or Rs 20 per performed trade (whichever is less)
  • Rs 200 for account opening (Additional Rs 100 for Commodity Account)
  • The annual maintenance fee is Rs 300.
  • Equity, derivatives, currency, mutual funds, and commodities are among the services provided.

2. ICICI Direct

ICICI Direct, a subsidiary of ICICI Securities, is ranked first among full-service stockbrokers. It is backed by the ICICI Group, a significant private financial services firm that has been in operation since 1994. The company relies on high-quality and tailored services, as well as the 3-in-1 account feature, to attract such a large number of active clients.

ICICI Direct was the leading provider of active consumers until 2019, when the top discount brokerage business Zerodha surpassed them with a client base of over 2 million. However, ICICI Direct is India’s most popular trading platform.

Many investors and traders prefer to trade through this company because they offer a wide range of insurance products, financial distribution products, investment banking, institutional trading, wealth management services, Home Loans, Bonds, Fixed Deposits, IPO services, NCDs, and loan against shares in addition to general stockbroking products and services.

Here are a few crucial elements and characteristics to be aware of about ICICI Direct:

ICICI Direct provides a variety of brokerage plans to choose from, including I-Secure, I-Saver, and Prepaid. However, with the ICICI Direct Prime brokerage plan, they have lately entered the cheap brokerage business. Here are the specifics:

  • Delivery brokerage fees range from 0.15 to 0.25 percent.
  • Intraday brokerage fees are Rs 15 per trade.
  • Charges for futures/options/currency/commodities: Rs 20 per trade
  • Margin Funding: 8.9 percent per annum
  • Services: Equities, derivatives, currency, mutual funds, IPOs, FDs, bonds, NCDs, and ETFs

3. HDFC Securities

HDFC Securities Limited is a subsidiary of HDFC, the largest private sector bank in India, and has been in operation for over two decades. The company is ranked as one of the top full-service stockbrokers in India, with headquarters in Mumbai and over 270 offices and branches throughout the country.

HDFC Securities Limited is known for providing complete services to a wide spectrum of individuals and professional traders through online and offline trading services. It also distributes financial products. Customers of this brokerage firm can trade stocks, mutual funds, commodities, fds, bonds, and other securities, and they have the advantage of trading and investing with an award-winning brokerage firm.

Here are a few crucial elements and characteristics to be aware of about HDFC Securities:

  • Delivery fees range from 0.07 percent to 0.32 percent of the transaction value.
  • Intraday charges range from 0.40 percent to 0.15 percent of transaction value.
  • Rs 999 for account opening
  • The annual maintenance fee is Rs 750. (Second year onwards)
  • Services include equities, derivatives, currency, mutual funds, initial public offerings (IPOs), exchange-traded funds (ETFs), bonds, FDs, and insurance.

4. Angel Broking

Angel broking, founded in 1987, is a large brand with +30 years of experience in the brokerage sector and +1 million satisfied consumers. They have a presence in over 1800 Indian cities. Angel Broking provides trading services in equity, futures and options, commodities, and currency on the BSE, NSE, NCDEX, and MCX.

Angel Broking was a full-service broker that charged a percentage brokerage fee to its clients for over two decades. However, they have altered their business model from percentage brokerage to flat prices (November 2019) in order to compete with quickly emerging discount brokers like as Zerodha, 5Paisa, Upstox, and others.

Angel Broking currently provides a flat-rate brokerage plan known as ‘Angel iTrade PRIME.’ Delivery commerce is completely free in this country. And for all other areas, such as intraday, F&O, currencies, and commodities, they charge a flat rate of $20 per transaction. The same basic charge applies to all exchanges and segments.

One of the primary benefits of trading with Angel Broking is that they offer stock market investment advice/recommendations, as well as research reports on companies and a variety of other value-added products and services.

Angel Broking provides services in equity, commodity, currency, PMS, life insurance, ETFs, IPOs, and mutual funds.

Brokerage Fee for Angel Broking:

Intraday trading is charged at a flat rate of Rs 20 per trade.
Equity F&O: a flat fee of Rs.20 per trade
Currency F&O: a flat fee of Rs.20 per trade
Commodity F&O: a flat fee of Rs.20 per trade

5. Upstox

Upstox is a rapidly expanding discount broker supported by a consortium of notable investors that includes Kalaari Capital, Ratan Tata, GVK Davix, and others. RKSV is another name for it. Upstox began in 2012 as RKSV and rebranded to Upstox in 2015. Upstox has the second-highest number of active clients on the NSE after Zerodha as of January 2021.

Upstox provides trading services in equity, currency, and commodities.

Brokerage fees at Upstox

Equity delivery trades are free when trading with Upstox. It is 0.05 percent or up to Rs. 20 per order traded for intraday trading on the BSE, NSE, MCX, and F&O. The brokerage cost is merely Rs. 20 every order traded, regardless of order size.

Intraday Trading: Rs 20 per performed trade or 0.05 percent, whichever is lower.
Futures Trading Fees: Rs 20 or 0.05 percent (whichever is less) every order Options Trading Fees: Rs 20 each deal Upstox Demat And Trading Account Opening Fees: Rs 20

Account opening fees are Rs 300. (Currently Waived)
The annual maintenance fee is Rs 150.
Upstox Pro Web Trading Platform, AmiBroker Bridge, Developer Console, Option Chain Tool, Upstox MF Platform

Upstox Advantages:

Fast paperless demat and trading account opening, free delivery trading
Margin against share is available, as is a 3-in-1 account (Partnership with IndusInd Bank)
Upstox’s disadvantages:

GTC (Good Till Cancelled) and GTC Date/Time (GTD) Orders are not currently available.
On delivery trades, margin funding is not accessible.
Customers have experienced minor technical issues with the app.

Also Read: What Are The Top 5 Best Unlisted Shares To Purchase In India in 2022

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