Top Stock brokers in India – 2022

Stock Brokers

Demat account is mandatory for the individuals who are planning to start trading. Using the demat account, you can store all your shares in digital form. Everyone should be careful while selecting a demat account, or else you have to pay high transaction charges. Currently, we have two depositories that can provide demat service.

  • NSDL – National Securities Depository Limited
  • CDSL – Central Depositories Security Limited

Many stockbrokers in India can provide demat service. They will also help you to invest in mutual funds, sip, etc., with the same demat account. Today we are going to discuss the top stock brokers in India.

Zerodha: 

zerodha

Zerodha is one of the top stockbrokers in the Indian stock market with more than 8 million clients. It was started in 2010 and became a popular discount broker in the Indian equity market.

Zerodha provides the best trading platform with low brokerage charges, and it allows you to invest in Equity, Currency, Commodity, IPO, Direct Mutual Funds, etc. Moreover, it is one of the fastest-growing fintech companies in India.

Zerodha Charges :

Delivery Brokerage ChargesFree
Mutual Fund Investment ChargesFree
Intraday Trading Charges0.01% or Rs 20 per trade executed 
Zerodha Account Opening ChargesRs 200 and additional 100 for commodity
Annual Maintenance ChargeRs 300
Services offeredEquity, Derivatives, Currency, Mutual Funds, Commodities
Zerodha featuresConsole, Sentinel(used for alerts)
zerodha banner

Trading Platforms offered by Zerodha

  • Kite 3.0 (Web Version) 
  • Kite Mobile (Mobile Version)
  • Zerodha Coin (for mutual funds)
  • Pi (Desktop Version)

Advantages and Disadvantages of Zerodha

Advantages of Zerodha

  • Biggest stock broker in India
  • Zero charges on delivery trade
  • No paperwork is needed to open a demat account.
  • Low brokerage charges
  • Zerodha provides a user-friendly trading platform

 Disadvantages of Zerodha

  • Zerodha don’t provide any advisory services to its clients
  • Zerodha don’t provide 3 in 1 account
  • The online account opening process is slow

Upstox

Upstox

Upstox is previously known as RKSV Securities. It is one of the top stockbrokers in the Indian stock market, with a client base of more than 40 lakhs. Upstox was supported by Ratan Tata, GVK Davix, Kalaari Capital, etc. 

Upstox is one of India’s best online trading platforms with low brokerage charges. It allows you to invest in equity, currency, commodity etc.

Upstox Charges:

Delivery Brokerage ChargesFree
Intraday Trading Charges0.05% Rs 20 per executed trade
Futures Trading Charges0.05% or Rs 20 per trade
Options Trading ChargesRs 20 per trade
Upstox Account Opening ChargesRs 300
Annual Maintenance ChargesRs 150
Services offeredEquity, Currency, Commodity, etc
Upstox FeaturesBridge for AmiBroker, Developer Console, Option Chain tool
Upstox

Trading Platforms offered by Upstox

  • Upstox Pro Web Trading
  • Upstox mutual fund

Advantages and disadvantages of Upstox

Advantages of Upstox

  • First discount broker in India
  • Zero charges on delivery trade
  • No paperwork is needed to open demat account
  • It provides a user-friendly trading platform to its clients
  • The mobile trading app is available for both Android and IOS
  • Upstox is providing 3 in 1 account through Indusind bank 

Disadvantages of Upstox

  • Upstox don’t provide any advisory services to its clients
  • They are not offering any monthly unlimited trading plans
  • GTC (Good Till Canceled) orders are not supported in the delivery segment.

Angel Broking

Angel Broking

Angel broking was established in the year 1987, and it is one of the top full-service brokers in India, with a client base of more than 1 million. Angel Broking is a Mumbai based stock broker in India. It has more than 30 years of experience in the broken world and also provides wealth management services.

Angel broking allows you to invest in Equity, F&O, Commodities, and currency across BSE, NSE, NCDEX & MCX. It has changed its percentage base brokerage to flat rates in 2019.

Angel Broking Charges:

Delivery Brokerage ChargesFree
Intraday Trading ChargesRs 20 per trade
Equity F&O ChargesRs 20 per trade
Currency F&O ChargesRs 20 per trade
Commodity F&O ChargesRs 20 per trade
Angel Broking Account Opening ChargesZero
Annual Maintenance ChargesRs 450 from 2nd year
Angel Broking OffersEquity, Commodity, CUrrency, PLZ, Life Insurance, ETF, IPO, Mutual Fund.

Trading platform offered by Angel Broking

  • Angel iTrade
  • Angel Broking Mobile App
  • Angel bee (for mutual funds)

Advantages and Disadvantages of Angel Broking

Advantages of Angel Broking

  • Angel broking is a full-service broker with low brokerage charges 
  • Angel broking provides researched reports and advisory services from experts
  • Angel broking provides advanced trading platforms
  • Zero charges on equity delivery
  • Angel broking account opening process can be done using both online and offline

 Disadvantages of Angel Broking

  • Angel broking is not providing 3 in 1 account
  • Broker assisted trades are charged extra

5Paisa

5 paisa

5 paisa is one of the best stock brokers in India, with a client base of more than 3 million. It is a part of IIFL and provides low brokerage charges to its clients. 5 Paisa allows you to trade in equity, mutual funds, insurance, commodity, currency, robo advisory, etc. 5 Paisa was awarded as premier depository participant by CDSL in 2019.

5 Paisa Charges

Delivery Trading ChargesRs 20 per trade
Intraday Trading ChargesRs 20 per trade
Equity FuturesRs 20 per trade
Equity OptionsRs 20 per trade
Currency FuturesRs 20 per trade
Currency OptionsRs 20 per trade
5 Paisa Account Opening ChargesFree
5 Paisa Annual Maintenance chargesRs 45 per month 
5 Paisa Offersequity, mutual funds, insurance, commodity, currency,

Trading Platforms Offered by 5 Paisa

  • Investor Terminal Web Platform
  • Trader Terminal
  • 5 Paisa share trading mobile app

Advantages and Disadvantages of 5 Pais

Advantages of 5 Paisa

  • Zero charges on delivery trade
  • Low Brokerage charges
  • The account opening process is 100% paperless
  • They provide advisory services and research reports to their clients.

Disadvantages of 5 Paisa

  • 5 Paisa is not providing 3 in 1 account
  • They are charging high for exchange transactions
  • 5 Paisa is not providing a commodity trading facility.
  • Some traders are facing server down issues during trading hours

ICICI Direct

icici direct

ICICI Direct is one of the fop full-service brokers in India. It has been a leading financial service provider since 1994. ICICI Direct is providing 3 in 1 account (saving bank account, trading account, demat account) facility to its clients. It has a client base of more than 2 million.

ICICI Direct is providing its services via online and offline branches in India. It allows you to invest in equity, derivative, Mutual Funds, IPO, Fixed deposits, Insurance, Bonds, Loans etc.

ICICI Direct Charges

Delivery Brokerage Charges0.15% to 0.25%
Intraday Brokerage ChargesRs 15 per trade
Futures ChargesRs 20 per trade
Options ChargesRs 20 per trade
Currency ChargesRs 20 per trade
Commodity ChargesRs 20 per trade
Margin Funding8.9%
Services OfferedEquity, Derivative, Mutual Funds, IPO, Fixed deposits, Insurance, Bonds, Loans

Trading Platforms Offered by ICICI Direct

  • Trade racer
  • Mobile trading App

Advantages and Disadvantages of ICICI DIrect

Advantages of ICICI Direct

  • ICICI Direct is providing 3 in 1 account
  • ICICI Direct is providing a facility to invest in US stocks
  • One of the best trading software in India
  • They provide free advisory services and research reports to their clients.

 Disadvantages of ICICI Direct

  • Mobile App performance is not satisfied by the users
  • Brokerage charges are very high
  • They don’t have any brokerage calculator
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