The Indian stock market has experienced remarkable growth in recent years, accompanied by the emergence of numerous stock brokers, making stockbroking more accessible to investors. Consequently, the availability of Stock Market Courses has surged, providing investors with a diverse array of options.
Selecting the appropriate stock broker holds substantial importance in shaping your investments, as they play a pivotal role in executing your trades and furnishing research and analysis to facilitate well-informed decisions. Given the multitude of choices, determining the stockbroker that aligns with your requirements can pose a significant challenge.
Brokerage Firms Comparison – Revisiting For The Year 2024
| Broker | Active Clients | Types of Investment Options | Foreign Stocks | SEBI Registration |
| Paytm Money | 7,04,044 | Equity, Mutual Funds, ETFs, US Stocks, NCD | Doesn’t Support | Yes |
| Zerodha | 6,479,235 | Equity, Mutual Funds, ETFs, US Stocks, Foreign Stocks, Currency Trading, Commodities Trading, F&O, PMS, Tax-Saving Investments, Retirement Planning, NRI Accounts, HNI Accounts, Minor Accounts | Doesn’t Support | Yes |
| Aditya Birla Capital | 3,45,000 | Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives | Over 1,000 | Yes |
| Upstox | 2,193,506 | Equity, Mutual Funds, ETFs, US Stocks, Corporate FDs, Foreign Stocks, Currency Trading, Commodities Trading, F&O, Tax-Saving Investments, Retirement Planning, NRI Accounts, HNI Accounts, Minor Accounts | Over 3,000 | Yes |
| ICICIdirect | 1,912,937 | Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives | Over 2,000 | Yes |
| HDFC Securities | 1,004,103 | Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives | Doesn’t Support | Yes |
| Kotak Securities | 9,99,463 | Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives | Over 1,000 | Yes |
| Motilal Oswal | 7,98,485 | Equity, Mutual Funds, ETFs, US Stocks, NCD, Currency Derivatives, Commodity Derivatives | Over 500 | Yes |
| Groww | 6,628,645 | Equity, Mutual Funds, ETFs, Digital Gold, Corporate FDs, various tax-saving investment options, including ELSS funds, PPF, NPS, etc | Over 5,000 | Yes |
| SBI Securities | 6,80,648 | Equity, Mutual Funds, ETFs, US Stocks, NCD | Over 500 | Yes |
Top Stock Market Intermediaries
1. Paytm Money
Paytm Money is a recent addition to the brokerage industry, providing a straightforward and easy-to-use trading platform designed for both beginners and tech-savvy investors. The platform’s appeal lies in its zero brokerage for equity delivery and direct mutual funds, coupled with a fixed brokerage for intraday and F&O trades, making it an appealing choice for investors who prioritize cost-effectiveness.
Key Features:
Certainly! Here is the regenerated table:
| Feature | Details |
| Annual Maintenance Charge | ₹999 per year for trading account, ₹299 + taxes from the second year. ₹999 per year for Demat account. |
| Intraday Charges | 0.03% or ₹20, whichever is lower per executed order. |
| Types of Investment Options | Stocks, mutual funds, ETFs, IPOs, US stocks, commodities, currency, fixed income, PMS. |
| Account Opening Charge | ₹0 |
| Brokerage Charges | Up to 0.50% for equity delivery. |
| Tools Available | Trader’s Corner charting tool, MO Trader, Orion Lite with SIP calculator, FD calculator, brokerage calculator, and more. |
| Customer Support | 24/7 customer support via email, chat, and phone. |
| Ease of Use | User-friendly trading platform, mobile app for Android and iOS, simple and intuitive interface, easy-to-understand charts and graphs. |
| Account Types | Regular trading account, Demat account, Trading account for minors, NRI accounts, HNI accounts. |
| Educational Resources | Free online courses on investing, Demat account opening guide, Trading tutorials, Market news and analysis. |
| Market Access | Access to all major Indian stock exchanges, Trading in NSE, BSE, MCX, and NCDEX, Access to US stocks through NSE IFSC. |
| Safety and Security | 2FA, SSL encryption, ISO 27001 certified. |
| Compliance | Complies with all SEBI regulations, Transparent pricing, No hidden charges. |
| Violations | Paytm Money has no history of significant violations of SEBI regulations. |
Services Offered:
- Demat and trading accounts
- Mutual funds
- ETFs
- IPOs
- Derivatives
- PMS
- Margin trading
- NRI accounts
- HNI accounts
2. Zerodha
Zerodha stands out as a leading discount broker, demonstrating an impressive financial performance with ₹2,094 crore in profits against a revenue of ₹4,964 crore in FY22. Renowned for its innovative pricing structure and cutting-edge in-house technology, Zerodha has emerged as India’s premier stockbroker. The platform is designed to serve a diverse audience, accommodating both beginners and seasoned traders. Zerodha provides a seamless trading experience, empowering users to make well-informed investment decisions.
| Feature | Details |
| Key Financials | In FY22, Zerodha achieved ₹2,094 crore in profits from a ₹4,964 crore revenue. |
| Annual Maintenance Charge | ₹0 for trading and ₹300 for Demat account. |
| Intraday Charges | 0.03% of trade value or ₹20, whichever is lower. |
| Types of Investment Options | Stocks, mutual funds, ETFs, currency derivatives, commodity derivatives, and options. |
| Account Opening Charge | ₹0 for equity and ₹200 for commodity. |
| Brokerage Charges | Equity delivery: 0%. |
| Tools Available | Kite, Console, Coin, Kite Connect API, Varsity mobile, 80 Technical Indicators. |
| Customer Support | 24/7 customer support via email, chat, and phone. |
| Ease of Use | User-friendly trading platform (Kite), mobile app for Android and iOS, simple and intuitive interface, easy-to-understand charts and graphs. |
| Account Types | Regular trading account, Demat account, Trading account for minors. |
| Educational Resources | Free online courses on investing, Varsity, Trading tutorials, Market news and analysis. |
| Market Access | Access to all major Indian stock exchanges, Trading in NSE, BSE, MCX-SX, and NCDEX. |
| Safety and Security | 2-factor authentication, Data encryption, Secure servers, SEBI-registered broker. |
| Compliance | Complies with all SEBI regulations, Transparent pricing, No hidden charges. |
| Violations | Zerodha has no history of significant violations of SEBI regulations. |
Services Offered:
- Equity Trading
- Commodity Trading
- Currency Trading
- Mutual Funds
- Bonds and Government Securities
3. Aditya Birla Capital
Aditya Birla Capital is a trusted full-service broker with a strong track record of innovation. Its easy-to-use platform and excellent customer support make it a good choice for beginners. At the same time, the trading platform and wide range of investment options benefit experienced investors.
Key Features:
| Feature | Details |
| Annual Maintenance Charge | ₹250 per annum (free for the first year). |
| Intraday Charges | 0.05% or ₹20 per executed order, whichever is lower. |
| Types of Investment Options | Equity, Derivatives, Commodities, Currency, Insurance, FDs, Loans, IPO, and Bonds. |
| Account Opening Charge | ₹0 (Free). |
| Brokerage Charges | Flat ₹20 per executed order across all segments, including equity delivery. |
| Tools Available | Campaign – Aditya Birla Money – Portfolio Analyser, Moneycontrol. |
| Customer Support | 24×7 customer support via phone, email, and chat. |
| Ease of Use | User-friendly trading platforms such as Trade Station Exe, ABTRADE, and more. |
| Account Types | Regular trading account, Demat account, Trading account for minors, NRI accounts, HNI accounts, and NRI accounts. |
| Educational Resources | Expert research and analysis, personalised support, and more. |
| Market Access | BSE, NSE, MCX, and NCDEX. |
| Safety and Security | 2-factor authentication, Data encryption, Secure servers, SEBI-regulated and ISO 27001 certified. |
| Compliance | Complies with all SEBI regulations. |
| Violations | No major violations reported. |
Services Offered:
- Lending
- Insurance
- Asset management
- Stock and securities broking
4. Upstox
Upstox is a rising player in the discount broking market, loved for its simple and affordable approach, including zero brokerage on equity delivery and affordable intraday trading. With over 10 million users, it’s outpacing rivals at a valuation of $3.5 billion. Comprehensive research reports, giving traders valuable insights for smart investment decisions and lots of useful tools, make it perfect for both newbies and experienced traders.
Key Features:
| Feature | Details |
| Annual Maintenance Charge | ₹0 for trading and ₹150 for Demat account. |
| Intraday Charges | 0.03% of trade value or ₹20, whichever is lower. |
| Types of Investment Options | Stocks, mutual funds, ETFs, IPOs, futures, and options. |
| Account Opening Charge | ₹0. |
| Brokerage Charges | Delivery: 0.1% or ₹20, whichever is less. |
| Tools Available | Brokerage Calculator, 2X Margin Pledge on over 450 Stocks, Option Chain With Greeks, F&O Smartlists, Live News, etc. |
| Customer Support | 24/7 customer support via email, chat, and phone. |
| Ease of Use | User-friendly trading platform, web and mobile app for Android and iOS, simple and intuitive interface, easy-to-understand charts and graphs. |
| Account Types | Regular trading account, Demat account, Trading account for minors. |
| Educational Resources | Resources like Trading Glossary, Knowledge Base, Market Talk, Stock Market Holidays Calendar 2024. |
| Market Access | Access to all major Indian stock exchanges, Trading in NSE, BSE, MCX, and NCDEX. |
| Safety and Security | 2-factor authentication, Data encryption, Secure servers, SEBI-registered broker. |
| Compliance | Upstox is regulated by SEBI, also registered with BSE, NSE, MCX, CDSL, and NSDL. |
| Violations | Upstox has no history of significant violations of SEBI regulations. |
Top of Form
Services Offered:
- Online trading in equity intraday, delivery, derivatives, commodities, and currency segment
- Upstox Invest
- Stocks
- Mutual Funds
- IPOs
- Sovereign Gold Bonds
- Trade (Futures & Options, Commodities, Currency)
- Demat Account
- Trading Account
- Online Trading
- Intraday Trading
- Future and Options
- Share Market
- Post-Trade actions
5. ICICIdirect
ICICIdirect is a full-time stockbroker that offers a range of services apart from trading and investing in the stock market. ICICIdirect’s 3-in-1 account integrates your banking, broking, and demat accounts, making it a convenient option for investors and traders. ICICIdirect’s NEO brokerage plan is another noteworthy feature, which charges a flat brokerage fee of Rs. 20 per order for intraday, future and options (F&O), commodities, and currencies.
Key Features:
| Feature | Details |
| Annual Maintenance Charge | ₹499 + GST annually. ₹700 for Demat Account. |
| Intraday Charges | 0.015% on buy, 0.003% on intraday. |
| Types of Investment Options | Stocks, mutual funds, ETFs, IPOs, corporate bonds, fixed income securities, commodities, currency derivatives, global investment products. |
| Account Opening Charge | ₹0. |
| Brokerage Charges | Delivery: 0%. |
| Tools Available | i-Track for personalised insights and live charts, Advance Charts for diverse styles, and Payoff Analyser for personalised payoff charts. Access real-time F&O Insights and trade quickly with Flash Trade. |
| Customer Support | 24/7 customer support via email, chat, and phone. |
| Ease of Use | User-friendly trading platform, mobile app for Android and iOS, simple and intuitive interface, easy-to-understand charts and graphs. |
| Account Types | Regular trading account, Demat account, NRI account, HNI account, trading account for minors. |
| Educational Resources | Free online courses on investing, Demat account opening guide, Trading tutorials, Market news and analysis. |
| Market Access | Access to all major Indian stock exchanges, Trading in NSE, BSE, MCX, and NCDEX. |
| Safety and Security | 2-factor authentication, Data encryption, Secure servers, SEBI-registered broker. |
| Compliance | Complies with all SEBI regulations, Transparent pricing, No hidden charges. |
| Violations | ICICIdirect has a history of minor violations of SEBI regulations, including failure to maintain adequate records and failure to provide timely disclosures. |
Services Offered:
- Equity
- Mutual Funds
- Derivatives
- Futures and Options
- Currency
- Commodity
- ETF
- Insurance
- IPOs
- Corporate Fixed Deposits
- Loans
- NPS
- Wealth Management
- Corporate Services
- NRI Services
- Portfolio Management Services
- Global Investment
- Financial Learning
- Tax Services
6. HDFC Securities
HDFC Securities, a leading full-service broker, caters to both experienced traders and investors. Its comprehensive platform supports a diverse range of investment activities, backed by an expert research team that provides in-depth market analysis and recommendations, making it a standout choice among the top 20 share brokers in India.
Key Features:
| Feature | Details |
| Annual Maintenance Charge | ₹499 + GST annually. |
| Intraday Charges | 0.015% on buy, 0.003% on intraday. |
| Types of Investment Options | Stocks, mutual funds, ETFs, IPOs, commodities, currency derivatives, and bonds. |
| Account Opening Charge | ₹0. |
| Brokerage Charges | Delivery: 0.25% on buy, 0.15% on sell. |
| Tools Available | Online Trading Platform to buy or sell stocks on both the BSE and the NSE, MCX, SmallChartIQ, including 100 popular technical indicators, 30 customizable tools and 13 candle time. |
| Customer Support | 24/7 customer support via email, chat, and phone. |
| Ease of Use | User-friendly trading platform, mobile app for Android and iOS, simple and intuitive interface, easy-to-understand charts and graphs. |
| Account Types | Regular trading account, Demat account, Trading account for minors. |
| Educational Resources | Free online courses on investing, Demat account opening guide, Trading tutorials, Market news and analysis. |
| Market Access | Access to all major Indian stock exchanges, Trading in NSE, BSE, MCX, and NCDEX. |
| Safety and Security | 2-factor authentication, Data encryption, Secure servers, SEBI-registered broker. |
| Compliance | Complies with all SEBI regulations. |
| Violations | HDFC Securities has no history of significant violations of SEBI regulations. |
Services Offered:
- Stock SIP
- Basket Investing
- IPO
- Mutual Funds
- NFO
- Invest in US Stocks
- PMS
- NRI
7. Kotak Securities
Kotak Securities is a promising full-service equity broker in India. It offers diverse trading platforms such as Keat Pro X, a Mobile App and a Website, research tools and educational content for informed decision-making. It caters to a diverse clientele, from beginners to experienced investors, offering a personalised approach to investment management.
Key Features:
| Feature | Details |
| Annual Maintenance Charge | ₹780 per year for trading account. ₹300 per year for Demat account. |
| Intraday Charges | 0.025% of trade value or a minimum of ₹20 per executed order. |
| Types of Investment Options | Stocks, mutual funds, ETFs, IPOs, US stocks, currency derivatives, commodities, sovereign bonds, tax-free bonds, NCDs, and more. |
| Account Opening Charge | Demat account opening charge – ₹150 + GST, Trading account opening charge – Free. |
| Brokerage Charges | Delivery (Equity): 0.25% of trade value or a minimum of ₹20 per executed order. |
| Tools Available | KEAT Pro X desktop trading application, Kotak Stock Trader, Kotak Securities Mobile App. |
| Customer Support | 24/7 customer support via email, chat, and phone. |
| Ease of Use | User-friendly trading platform, mobile app for Android and iOS, simple and intuitive interface, easy-to-understand charts and graphs. |
| Account Types | Regular trading account, Demat account, Trading account for minors, Joint account, NRI account, HNI account, Corporate account. |
| Educational Resources | Free online courses on investing, Demat account opening guide, Trading tutorials, Market news and analysis, Webinar programs. |
| Market Access | Access to all major Indian stock exchanges, Trading in NSE, BSE, MCX, and NCDEX. |
| Safety and Security | 2-factor authentication, Data encryption, Secure servers, SEBI-registered broker. |
| Compliance | Complies with all SEBI regulations. |
| Violations | Kotak Securities has a clean record and no significant violations of SEBI regulations. |
Top of Form
Services Offered:
- Futures and Options
- Margin Trading Facility
- Exchange Traded Funds
- Currency Trading
- Commodities
- Mutual Funds
- Tax-Free Bonds
- IPO
- Stock Basket (smallcase)
- Sovereign Gold Bonds
- NCD (Non-Convertible Debentures)
- SLBM (Securities Lending and Borrowing Mechanism)
- Global Investing
8. Motilal Oswal
Motilal Oswal, a seasoned full-service broker, excels in personalised services, investor education, and profitable stock recommendations. With over 30 years of experience, it stands out as a leading choice for investors, recognised six times as the ‘Best Performing National Financial Advisor – Equity Broker.’\
Key Features:
| Feature | Details |
| Annual Maintenance Charge | ₹999 per year for trading account, ₹299 + taxes from the second year. ₹999 per year for Demat account. |
| Intraday Charges | 0.03% or ₹20 per executed order. |
| Types of Investment Options | Stocks, mutual funds, ETFs, IPOs, US stocks, commodities, currency, fixed income, PMS. |
| Account Opening Charge | ₹0. |
| Brokerage Charges | Delivery: 0.015% on buy, 0.003% on sell. |
| Tools Available | Trader’s Corner charting tool, MO Trader, Orion Lite with SIP calculator, FD calculator, brokerage calculator, and more. |
| Customer Support | 24/7 customer support via email, chat, and phone. |
| Ease of Use | User-friendly trading platform, mobile app for Android and iOS, simple and intuitive interface, easy-to-understand charts and graphs. |
| Account Types | Regular trading account, Demat account, Trading account for minors, NRI accounts, HNI accounts. |
| Educational Resources | Free online courses on investing, Demat account opening guide, Trading tutorials, Market news and analysis. |
| Market Access | Access to all major Indian stock exchanges, Trading in NSE, BSE, MCX, and NCDEX. Access to US stocks through NSE IFSC. |
| Safety and Security | 2-factor authentication, Data encryption, Secure servers, SEBI-registered broker. |
| Compliance | Complies with all SEBI regulations, Transparent pricing, No hidden charges. |
| Violations | Motilal Oswal has no history of significant violations of SEBI regulations. |
Services Offered:
- Retail broking
- IPO & mutual funds investment
- Portfolio & wealth management
- Insurance
- Gold investment
9. Groww
Groww offers one of the lowest brokerage charges in India, with a flat fee of ₹20 per trade, making it a top choice for investors seeking to save money on trading costs. Its advanced charting tools, algorithms and automation really come in handy to make informed trading decisions.
Key Features:
| Feature | Details |
| Annual Maintenance Charge | ₹100 for non-active users. |
| Intraday Charges | Flat ₹20 per trade. |
| Types of Investment Options | Equity, Mutual Funds, ETFs, US Stocks, Digital Gold, Corporate FDs. |
| Account Opening Charge | Zero. |
| Brokerage Charges | Up to 0.5% for equity delivery, flat ₹20 per trade for intraday, flat ₹50 for US stocks, flat ₹1 for mutual funds. |
| Tools Available | Website, Mobile App, Financial Planning Calculators. |
| Customer Support | Live chat, email, phone support. |
| Ease of Use | User-friendly interface, simple and intuitive navigation. |
| Account Types | Regular trading account, NRI account, HNI account, minor account. |
| Educational Resources | Blog, articles, webinars, videos. |
| Market Access | NSE, BSE, NCDEX, MCX, US stock exchanges. |
| Safety and Security | Multi-factor authentication, bank-level security. |
| Compliance | SEBI registered, complies with all applicable regulations. |
| Violations | None reported. |
Services Offered:
- Trading in stocks, mutual funds, and ETFs
- Access to all major Indian stock exchanges
- Demat account opening
10. SBI Securities
SBI Securities is a subsidiary of the State Bank of India, offering a comprehensive range of investment products and services to a diverse clientele. It is basically a full-service broker company that provides services through both National and Central Depositary Services Limited. It is also one of the most reliable demat account providers in India.
Key Features:
| Feature | Details |
| Annual Maintenance Charge | ₹0. |
| Intraday Charges | 0.05% or ₹15 per executed order, whichever is lower. |
| Types of Investment Options | Equity, Derivatives, Mutual Funds, IPOs, NPS. |
| Account Opening Charge | ₹850. |
| Brokerage Charges | Delivery: 0.50% to 1.00%. Intraday: 0.05% to 0.10%. Futures: 0.05% to 0.10%. Options: ₹100 per executed order. |
| Tools Available | SBISMART Xpress, SBISMART Money, SBISMART Web, SBISMART Mobile. |
| Customer Support | Email, Phone, Chat. |
| Ease of Use | User-friendly platform. |
| Account Types | Regular trading account, Demat account, Trading account for minors, NRI accounts, HNI accounts. |
| Educational Resources | Free online courses on investing, Demat account opening guide, Trading tutorials, Market news and analysis. |
| Market Access | Access to all major Indian stock exchanges, Trading in NSE, BSE, MCX, and NCDEX. Access to US stocks through NSE IFSC. |
| Safety and Security | 2FA, SSL encryption, Data encryption, Secure servers, ISO 27001 certified. |
| Compliance | SEBI registered. |
| Violations | SBI Securities has no history of significant violations of SEBI regulations. |
Services Offered:
- Demat and trading accounts
- Mutual funds
- ETFs
- IPOs
- Derivatives
- PMS
- Margin trading
- NRI accounts
- HNI accounts