There are hundreds of brokerage businesses in India, and without the appropriate knowledge, it is quite easy to choose the wrong one. Choosing a stock brokers will include handing them your
hard-earned money and trusting them to invest it in the right places and in the right methods to make it grow. To assist you in making the best option possible, we have compiled a list of the 10 greatest and, more significantly, authentic stockbrokers in the country that we would like to suggest to you:
Sharekhan:
Sharekhan is one of India’s oldest stock brokerage firms, with over 16 years of expertise in the industry. It has established
itself in over 675 cities across the country and has made numerous trading platforms available to all of its clients. Sharekhan.com, one of the greatest investment portals, is a website ideally aimed for its visitors to obtain insight on share market news, investment options, stock quotations, research reports, as well as fundamental and statistical information on mutual funds, stocks, IPOs, and so on. Retail investors that use Sharekhan TradeTiger have access to one of the best trading terminals available. ShareMobile is a smartphone application that provides its consumers with a trading platform at their fingertips. There are several accounts available with these platforms to meet the various consumer requirements, such as Sharekhan Tiger Trade Account, Sharekhan Classic Account, Sharekhan First Step Account, and so on.
Sharekhan Brokerage Charges 2023:
| Demat Account | NIL Then Maintenance Rs.400 / Year AMC |
| Trading Account | Rs.750 – 1000 (One Time) |
| Intraday Brokerage | 0.10% |
| Delivery Brokerage | 0.50% |
| Equity Futures | 0.10% |
| Equity Options | Rs.100 per Lot or 2.5% of Premium (whichever is higher) |
| Currency Futures | 0.10% |
| Currency Options | Rs.30 per Lot or 2.5% of Premium (whichever is higher) |
IIFL Securities:
What is the best word to describe a corporation with a client base of more than 2.1 million people? We’ve got one – “Reliable“!. IIFL Securities was founded in 1995 and is headquartered in Mumbai. In terms of statistics, the broker is unquestionably one of the top ten stockbroking firms in the country. The broking firm is one of the few in the industry that is listed on the country’s key stock markets, including the NSE, BSE, MCX, and NCDEX. IIFL Securities provides a variety of services such as margin trading, customer support, brokerage plans, offline presence, trading apps, and so on. In terms of offline presence, the broker has over 4500 offices around the country.
IIFL Securities operates as a full cohort financial house of the country and offers a wide range of investment products and services:
- Equity
- IPO
- Currency Trading
- Commodity Trading
- ETFs
- Bonds
- Fixed Deposits
- Mutual Funds
- Portfolio Management Services
- Loans
- NCD
Thus, if you want to invest across different classes, an account with IIFL securities will serve.
The IIFL Securities Demat account is a one-stop shop for all of your trading needs. To trade in any of the financial areas of the trading market, you must first open a Demat account. IIFL Securities is an NSDL and CDSL depository participant. Customers of the stockbroker can open a 2-in-1 account (Demat and Trading account) with smooth transactions. When you want to open an account with them, you can use both online and offline Demat account opening services.
Brokerage Charges 2023: (IIFL Z20 Plan Brokerage)
| Demat Open Charges | NIL / FREE |
| Demat AMC Charges | 1st Year NIL Then Rs.250 / Year AMC |
| Trading Account Charges | NIL / FREE |
| Equity Intraday, Futures & Options, Currency& Commodity Brokerage | ₹ 20/- per executed order or 0.05% whichever is lower |
| Delivery Brokerage | ₹0 for all traders |
| Equity Futures | 0.01% |
| Equity Options | Flat ₹ 20/- per executed order |
| Currency Futures | ₹15 per lot |
| Currency Options | ₹5 per lot |
ICICIDirect:
ICICIDirect, one of the most trusted and trustworthy stockbrokers in the country, is offered to us by ICICI Securities, a division of the ICICI Group. With over 20 lakh consumers benefiting from ICICI Securities’ online investment and trading services via ICICIDirect, this is the largest retail brokerage firm in India right now. ICICIDirect.com, ICICI Bank’s flagship website, offers a variety of investment products to its consumers, including Mutual Funds and IPOs, Bonds, Fixed Deposits, Home Loans, Online Equity Trading, and so on. Their core offering for retail stock market participants in India, however, remains the 3-in-1 account, which combines an ICICI Bank Account, a Trading Account, and a Demat Account.
Customers can get encourage or information on their various financial products in person at any of the more than 1500 ICICI Bank branches or ICICIDirect offices, which provide a really simple and extremely efficient way to participate in the market as well as other financial instruments. In terms of ICICIDirect brokerage fees, they need a one-time payment of Rs. 975 for Trading Account opening expenses and Rs. 100 for Agreement Stamp Paper if you register a Demat Account. The Trading Account and the first year of the Demat Account (as part of a 3-in-1 account) have no annual maintenance expenses. From the second year on, the AMC for the Demat Account is Rs. 500 per year.
ICICIDirect Brokerage Charges 2023:
| Demat Account | NIL Then Maintenance Rs.600 / Year AMC |
| Trading Account | NIL |
| Intraday Brokerage | 0.125% to 0.375% (Vary as per Plan) |
| Delivery Brokerage | 0.25% to 0.75% (Vary as per Plan) |
| Equity Futures | Rs.50 |
| Equity Options | Rs.35 – Rs.95 |
| Currency Futures | Rs.10 |
| Currency Options | Rs.10 – Rs.25 |
HDFC Securities:
HDFC Securities, occasionally referred to as HDFCsec, is the equity trading company of HDFC Bank. Its distinctive feature is the 3-in-1 account they give their customers, which links their HDFCsec Trading Account with the existing Savings Account and Demat Account they have with HDFC Bank. It provides both online trading and trading over the phone. The smoothness, speed, and security of transactions have earned HDFC Securities its rightful popularity. With over 15 years of market experience and 200 or so branches around the country, HDFC Securities is a brokerage firm in India best known for the genuine information they provide based on current and anticipated stock market trends.
HDFC Securities Brokerage Charges 2023:
| Demat Account | Rs.999 Then Maintenance Rs.750 / Year AMC NIL with 3 in 1 Account Opening |
| Trading Account | NIL |
| Intraday Brokerage | 0.10% or Rs.25 or 2.5% on Transaction Value (Buy & Sell) |
| Delivery Brokerage | 0.50% or Rs.25 or 2.5% on Transaction Value (Buy & Sell) |
| Equity Futures | 0.05% or Rs.25 or 2.5% on Transaction Value (Buy & Sell) |
| Equity Options | Higher of 1% of the premium amount or Rs.100 per lot (Both Buy & Sell) |
| Currency Futures | The brokerage of Rs. 23/- per Contract on carrying forward trades and Rs. 12/- each side on square up of trades |
| Currency Options | The brokerage of Rs. 20/- per Contract on carrying forward trades and Rs. 10/- each side on square up of trades |
Zerodha:
Zerodha was founded in 2009, and it not only ranks among the top legitimate stockbrokers in the country, but it is also widely recognised as one of the pioneers in trading technology in India. They have always had the vision to break down every potential barrier that many investors, traders, and other prospective money-makers encounter in India’s current economic environment. This broking business has endeavoured to maintain its word over the last six years or so, and has steadily but steadily risen by leaps and bounds. We see Zerodha as a major player on the NSE, BSE, MCX, and MCX-SX, with average daily turnovers exceeding Rs. 5000 crores.
Zerodha has been recognised as India’s first and most renowned discount broker since its inception in 2009. Nithin Kamath created it after working as a stock trader before opening his own brokerage firm. Apart from pioneering a cheap pricing approach, Zerodha is also recognised as a pioneer in trading technology in India.
Zerodha Brokerage Charges 2023:
| Demat Account | Rs.100 Then Maintenance Rs.300 / Year AMC |
| Trading Account | Rs.300 |
| Intraday Brokerage | 0.01% or Rs. 20/executed order whichever is lower |
| Delivery Brokerage | Zero Brokerage |
| Equity Futures | 0.01% or Rs. 20/executed order whichever is lower |
| Equity Options | Flat Rs. 20 per executed order |
| Currency Futures | 0.01% or Rs. 20/executed order whichever is lower |
| Currency Options | 0.01% or Rs. 20/executed order whichever is lower |
When it comes to Zerodha, they charge a flat brokerage fee of 0.01% on all trade orders. However, the brokerage per order should not exceed Rs. 20. As a result, they charge their customers a brokerage fee of either Rs. 20 or 0.01% of the transaction value.
SBICAP Securities:
SSL, or SBICAP Securities Ltd., is a completely owned subsidiary of SBI Capital Markets Ltd. Retail equity, derivatives, e-broking, broking, commercial equity, depository participant services, and other services are among the most popular that they provide. They are also recognised for offering online trading products to both traders and investors. It is a well-known stockbroker in India that allows both resident and non-resident Indians to invest in IPOs, mutual funds, equity, and derivatives through the digital channel. It is a powerful trading engine that successfully drives SSL’s digital trading platform.
Some of the most well-known features include a 3-in-1 trading experience that includes Trading, Demat, and Savings Accounts all in one place. People may quickly access or reach it anytime and anyplace thanks to their low-bandwidth choice and 24×7 back-office access. In addition, their Instant Fund and Share Transfer facility isn’t a terrible thing!. In the case of intra-day trades, trading providers charge either 5 paise per share or 0.15% on both sides, whichever is more. For delivery-based trades, the fee is either 5 paise per share or 0.5%, whichever is greater. In the case of Futures, you must pay 0.05% for Intraday and 0.09% for Carrying Forward, or a minimum of 5 paise per share, whichever is greater.
SBICAP Securities Brokerage Charges 2023:
| Demat Account | Rs.850 Then Maintenance Rs.500 / Year AMC |
| Trading Account | NIL |
| Intraday Brokerage | 0.075% |
| Delivery Brokerage | 0.50% |
| Equity Futures | 0.03% to 0.05% |
| Equity Options | Rs.50 – Rs.100 per lot |
| Currency Futures | 0.015% to 0.03% |
| Currency Options | Rs.20 to Rs.30 per lot |
Angel Broking:
Angel Group was founded in 1987 and continues to expand to become one of the most trustworthy stockbrokers and top retail brokerage firms in the country. Angel Broking has a presence in over 900 Indian locations, providing services ranging from e-Broking, Portfolio Management, Commodities Trading, Investment Advisory, and Wealth Management. Though they do not provide a 3-in-1 Account like many other brokerage firms, their single access to MCX, NCDEX, BSE, NSE, and all other market segments has played an important part in its popularity.
Angel Broking Brokerage Charges 2023:
| Demat Account | NIL Then Maintenance Rs.450 / Year AMC |
| Trading Account | NIL |
| Intraday Brokerage | 0.0128% to 0.04% |
| Delivery Brokerage | 0.128% to 0.40% |
| Equity Futures | 0.0128% to 0.04% |
| Equity Options | Rs.15 to Rs.32 per lot |
| Currency Futures | 0.0096% to 0.03% |
| Currency Options | Rs.12 to Rs.15 per lot |
AxisDirect:
Axis Bank Ltd. established its subsidiary Axis Securities in 2005 to provide broking services and sell financial products to retail consumers in the country. Customers can invest in Mutual Funds, IPOs, Equities, Bonds, Derivatives, NCDs, Company Fixed Deposits, ETFs, SIPs, and so on through Axis Securities, in addition to gaining Home Loans, Loans against Property, Auto Loans, Loans against Shares, Personal Loans, and so on. With over 1.5 lakh active customers as of 2016, AXISDirect, a flagship brand of Axis Securities Ltd., has effectively placed itself among the top 10 stock brokers in India. AXISDirect has made it very easy for beginners and seasoned investors alike to engage in seamless stock market transactions through offering the services of 3-in-1 Accounts (Trading, Savings, and Demat Accounts).
AxisDirect Brokerage Charges 2023:
| Demat Account | NIL Then Maintenance Rs.650 / Year AMC |
| Trading Account | NIL |
| Intraday Brokerage | 0.50% |
| Delivery Brokerage | 0.05% |
| Equity Futures | 0.05% |
| Equity Options | Rs.0.01 to Rs.10 per lot |
| Currency Futures | 0.05% |
| Currency Options | Rs.0.01 to Rs.10 per lot |
Kotak Securities:
Kotak Securities Ltd. is a subsidiary of Kotak Mahindra Bank and was founded in the year 1994. They distribute financial products in the country, as well as offer stockbroking services here. With 1209 branches, satellite offices, and franchises that offer services to more than 11 lakh customers nationwide, they have firmly established themselves as one of the biggest brokerage firms in India. They let their investors open a Trading, Savings, as well as a Demat Account – either simultaneously as a part of a 3-in-1 Account, or independently, depending on what the investor wishes. The customers through their Account with Kotak Securities can seamlessly trade in IPO, Equity, Mutual Fund, Tax-free Bonds, ETF, Gold ETF, Currency Derivatives, and so on.
Fixed Brokerage Plan :
This is a plan created to especially cater to the needs of traders who are new to the concept or do have experience though not much.
Dynamic Brokerage Plan :
This plan has been created by Kotak Securities, keeping in mind more frequent traders who look to have a good bargain over their brokerage rates.
Free Intraday Trading Plan :
Also known as the Unlimited Trading plan, it provides a way for Kotak Securities to offer its customers unlimited intraday equity trading, free of cost, across a variety of segments that include Equity Futures, Equity Options, and Equity Cash against a fee of Rs. 999 per year. That’s the reason why it also popularly goes by the name – Rs.999 Plan. It should be kept in mind that this plan is only available for Equity Intraday Trades.
Kotak Securities Brokerage Charges 2023:
| Demat Account | Rs.750 Then Maintenance Rs.600 / Year AMC |
| Trading Account | NIL |
| Intraday Brokerage | 0.49% |
| Delivery Brokerage | 0.049% |
| Equity Futures | 0.049% |
| Equity Options | Rs.300 |
| Currency Futures | 0.04% or Rs.20 per lot |
| Currency Options | Rs.7.5 to Rs.20 per lot |
Motilal Oswal:
Motilal Oswal, one of India’s most well-known stock brokers, offers a wide range of products and services, including Investment Banking, Private Wealth Management, Commodity Brokering, Retail Broking and Distribution, Asset Management, Home Finance, Institutional Broking, Private Equity, and Currency Broking. This brokerage firm’s clients generally comprise regular customers, overseas institutional investors, mutual fund customers, and other corporate and financial clients. With over 2000 employees working hard to expand their existing network, which spans over 550 Indian cities and towns and includes thousands of business locations as well as their business partners, it’s not surprising that Motilal Oswal has a steadily growing customer base of approximately 8.5 lakh people.
Motilal Oswal Brokerage Charges 2023:
| Demat Account | NIL Then Maintenance Rs.299 / Year AMC |
| Trading Account | NIL |
| Intraday Brokerage | 0.05% |
| Delivery Brokerage | 0.50% |
| Equity Futures | 0.05% |
| Equity Options | Rs.75 per lot |
| Currency Futures | Rs.20 per lot |
| Currency Options | Rs.20 per lot |
5Paisa:
5Paisa is one of India’s most well-known brokerage organisations, based in Mumbai and with more than a decade of experience in the area. While it presently only has a physical presence in Mumbai, it does help its consumers mostly through phone calls, and whether people are satisfied with the services. 5Paisa’s future ambitions involve starting commodity trading, providing personal loans to customers, and supplying fund products such as NCDs, IPOs, and so on. The Discount broker has reported that their daily turnover is Rs. 1200 crores, the most of which comes from equity trading, with a little portion, possibly one percent or so, related to currency trading. The majority of its consumers, approximately 60%, are from Tier II and III cities, and their entire customer base has grown by 100% year over year.
5Paisa Brokerage Charges 2023:
| Demat Account | Rs.650 Then Maintenance Rs.400 / Year AMC |
| Trading Account | NIL |
| Intraday Brokerage | Rs.10 per order |
| Delivery Brokerage | Rs.10 per order |
| Equity Futures | Rs.10 per order |
| Equity Options | Rs.10 per order |
| Currency Futures | Rs.10 per order |
| Currency Options | Rs.10 per order |
