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Stock broking companies are entities that deal in stocks. They buy and sell shares on the behalf of their clients. The Indian stock market is one of the biggest stock markets in the world, and we have stock broking companies in abundance! However, out of thousands of stock broking companies in India, only a select few are the most reputed and popular.
In this article, we’ll list the top 10 stock broking companies in India. All of them are authorized by the Securities and Exchange Board of India (SEBI) to provide stock broking services.
Here is the list of the top stock broking companies in India.
Founded In: 2010
Zerodha is the leading stock broking company in India. It is a member of NSE, BSE and MCX. It offers an online trading platform known as Kite by Zerodha, which has a user-friendly interface. Zerodha charges a low brokerage fee to invest in Equity, Currency, Commodity, IPO, Futures & Options, Bonds, Govt. Securities, and Direct Mutual Funds. For beginner investors, Zerodha is one of the best stock broking companies as using the Zerodha app for trading is pretty easy! Stock SIPs are entirely free on Zerodha and there are no additional charges for them.
However, Zerodha is only available to Indian residents and only covers the Indian market. Zerodha is one of the most transparent stop broking companies in India. Their official website mentions, “We're absolutely transparent, and there is nothing that we charge that our customer doesn't know about, we hide nothing.” If you want a trusted stock broker that doesn’t overcharge you, you can choose Zerodha.
Founded in: 2014
Groww is a CDSL Depository Participant and Stock Broker. It is a member of NSE and BSE. In the past, Groww used to have an advantage over Zerodha, as it allowed customers to buy US stocks using its trading platform. However, this facility is no longer available. However, Groww still has many advantages. It offers a user-friendly platform and also provides educational resources. Groww allows customers to investment in mutual funds, IPO, FnO, stocks, ETF, SGB, etc. No commission is charged by Groww on mutual fund investments. Groww is at par with Zerodha when it comes to brokerage fee.
Founded in: 1996
Angel One, previously known as Angel Broking, is one of the oldest and most trusted stock brokers in India. It offers services such as equity trading, commodity trading, derivatives, mutual funds, IPOs, etc. One feature that sets Angel One apart from other stock broking companies is the comprehensive research reports and analysis it provides to help investors stay informed about the latest market developments and trends. Angel One does not charge for equity delivery.
Founded in: 2009
Upstox was earlier known as RKSV when it was founded in 2009. It is one of the top 10 stock broking companies in India and is backed by Ratan Tata. It is a depository participant of central depositories CDSL and a member of NSE, BSE and MCX. Upstox offers a wide range of services such as equity trading, FnO, mutual funds, stocks, currency options, etc. It offers competitive brokerage rates. The process of opening an Upstox account is easy and quick.
Founded in: 2010
A subsidiary of HDFC bank, HDFC securities is a leading stock broking company which is a depository participant of CDSL. HDFC securities offers financial services and products such as Corporate FDs & Bonds, Insurance, Mutual Funds, National Pension System, Real Estate services, Loans, NCDs & IPOs in strategic distribution partnerships. The advantage of being an HDFC securities customer is that you have multiple options for trading. You can trade online, through mobile or telephone or by any of HDFC securities’ branches. The mobile trading app is compatible with most smartphones. The app allows you to create multiple personalized market watch to track stocks, gold, bonds, etc.
Founded in: 1995
A part of the ICICI Group, ICICI Direct is one of the most popular stock brokers in India. It offers online trading and investment services such as equity, commodity and currency trading to millions of customers. It is a member of NSE, BSE and MCX. You do not have to pay every time you buy securities by opening an account. However, when you sell securities, charges will be applicable. Compared to other top stock broking companies in India, the ICICI direct charges might seem high. Nevertheless, it is one of the most trusted stock brokerage firms in India.
Founded in: 1988
SBI securities is a wholly owned subsidiary of SBI capital markets ltd. and a part of the State Bank Group. The benefit of choosing SBI securities as your stock broker company is that it offers a 3-in-1 account i.e., a combination of demat, trading and bank account. Using this account, you can make investments in share market, digital gold, mutual funds and ETFs online. You can do intraday trade and FnO at various exchanges like NSE, BSE and MCX.
Founded in: 1994
Kotak securities was founded in 1994, as a subsidiary of Kotak Mahindra Bank. It is one of the most reliable brokerage firms in India. Customers of Kotak Securities can avail a wide range of services including IPOs, mutual funds, equity trading and derivatives. Kotak securities is a reliable platform with advanced technology. However, one drawback is the high brokerage fees charged by it.
Founded in: 1987
Motilal Oswal is one of the oldest stock broking companies in India. It offers clients to invest in various segments such as equity, commodities, currencies, FnO, etc. The brokerage charges of Motilal Oswal are competitive and they offer significant margins for trading across different asset classes. Clients can benefit from Motilal Oswal’s free, in-depth analysis and stock recommendations. These can be useful in making informed investment decisions. However, high brokerage fees might be considered a drawback.
Founded in: 2017
Paytm Money, founded in 2017, quickly emerged as one of the leading stock broking companies in India. It is a SEBI registered stock broker and CDSL depository participant. A wide range of services is offered by Paytm Money, including equity and derivatives trading, IPOs and depository services. Paytm Money is also PFRDA-registered and offers NPS investment. Currently, it does not charge maintenance charges. However, it does charge brokerage fees for orders across all segments. Paytm Money’s trading platform is considered a reliable and easy-to-use platform.
Related Post: A Guide to Comparing Stock Brokers in 2024
Stock Broking companies in India are in thousands in number. However, each and every stock broking company provides different kinds of services and has its own fee structure. In this blog post, we presented to you the top 10 stock broking companies in India. All of them are big names in the financial market, and authorized by SEBI to offer stock broking services. You can choose any of them, based on your requirements.
If you want to be a stock broker firm, Registrationwala consults can assist you in obtaining the stock broker license.
Disclaimer: The rankings mentioned in this blog post ‘Top 10 Stock Broking Companies in India’ are based on the author’s personal opinion, and do not correlate to any official rankings.
Hey there, I'm Dushyant Sharma. With the extensive knowledge I've gained in past 8 years, I have been creating content on various subjects such as banking, insurance, telecom, and all the important registration and licensing processes for various companies. I'm here to help everyone with my expertise in these areas through my articles.
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