Top 8 Share Brokers in India: Features, Benefits, and Costs

Are you looking for the best brokers in India to start your investing journey? Choosing the right broker can make a big difference in your overall trading experience, returns, and costs. Therefore, it is important to compare the features and benefits of the top share brokers before making a decision.  To help you with this, we have compiled a list of the Top 8 Share Brokers in India based on various criteria, such as brokerage charges, trading platforms, customer service, products and services, and more.

Also Read: Which are the best stocks to invest as per Google Gemini AI?

Which are the Top 8 Share Brokers in India?

These brokers are:

  • Groww: Best Broker in India
  • Shoonya: Best Online Broker in India
  • Upstox: Best Online Stock Broker in India
  • HDFC Securities: Top Stock Broker in India
  • Zerodha: Top Share Broker in India
  • Angel One: Best Trading Platform in India
  • ICICI Direct: Best Trading App in India
  • Kotak Securities: Best Trading App in India

Groww#1 – Groww – Best Broker in India

Groww tops the list of the best brokers in India. It was founded in 2016 by ex-Flipkart employees Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh. Groww is a leading digital discount broker in India. Registered with SEBI as a stockbroker, depository participant, and investment adviser, Groww has rapidly gained prominence.

Cost Structure of Groww- 1st among the Top 8 Share Brokers in India

Groww implements a simple and transparent cost structure:

  • Fixed brokerage model: Rs 20 per executed order for Equity Delivery, Intraday, and F&O trades.
  • Additional charges include auto square-off fees of Rs 50 and various transaction, regulatory, and Demat charges.

Unique Selling Propositions (USPs)

Groww offers several compelling features:

  • Minimal brokerage fee of Rs 20 per trade or 0.05% for Equity, Intraday, and F&O transactions.
  • User-friendly trading app with 128-bit encryption, catering to over 90 lakh users.
  • Zero-commission direct mutual funds platform, providing additional value to investors.

Shoonya#2 – Shoonya – Best Online Broker in India

Shoonya, introduced in 2013, stands as India’s pioneering zero-commission trading platform. It holds the prestigious position of second among the list of top 8 share brokers in India. Shoonya offers a zero brokerage demat account and commission-free trading.

Price Structure of Shoonya- 2nd among the Top 8 Share Brokers in India

  • Zero brokerage across all segments- equity intraday, delivery, futures, options, currency, commodities, mutual funds, ETFs, bonds, and IPOs.
  • No account opening charges, annual maintenance charges, call and trade charges, hidden charges, trading platform charges, auto-squared-off charges, volume commitment, clearing charges (NSE & BSE), charges on APIs, and algo trading.
  • No upfront charges to initiate trading.

Unique Selling Propositions (USPs)

  • Zero brokerage demat account covering all trading segments on major exchanges- NSE, BSE, MCX, NCDEX
  • Revolutionising trading with commission-free experience across various segments.
  • Streamlined onboarding process with no charges for opening an account and zero AMC.
  • Access to advanced trading tools such as TradingView charts, order slicing, bracket orders, and option chains.
  • Prioritizing user satisfaction with accessible customer support through various channels.
  • Seamless and user-friendly trading interface accessible on multiple platforms.
  • Gain a trading edge with AI-driven stock price predictions and signals, offering daily top picks across various market caps.

Upstox#3 – Upstox- Best Online Stock Broker in India

Established in 2011, Upstox secures the third spot among the top 8 share brokers in India. It is regulated by SEBI and licensed as a stockbroker, depository participant, and commodity broker. Upstox offers a comprehensive trading experience.

Fees and Charges of Upstox- 3rd among the Top 8 Share Brokers in India

Segment Charge per Executed Order Percentage (Whichever is Lower) Equity Delivery Rs 20 2.5% Equity F&O Rs 20 0.05% Currency Futures Rs 20 0.05% Commodity Futures Rs 20 0.05% Other Charges:

  • Call & Trade: Rs 20 per executed order.
  • Physical contact notes: Rs 25 per contract note plus courier charges (Digital contract notes are free).
  • Instant Money Transfer Fee: Rs 7 per transfer.

Unique Selling Propositions (USPs)

  • Variety of trading products and services, including equity, commodity, futures and options (FnO), currency, IPOs, and more.
  • User-friendly platforms like Upstox Pro Web and Upstox Pro Mobile.
  • Flat Rs 20 per trade brokerage across all segments – delivery, intraday, and F&O.
  • Upstox Bridge for AmiBroker facilitates coding and executing trading strategies.
  • Access to advanced order types like AMO, CO, SL, and GTT.
  • Upstox Developer Console enables users to build their own trading app using languages such as Python.

HDFC Securities#4 – HDFC Securities- Top Stock Broker in India

Founded in 2000, HDFC Securities Ltd is a prominent full-service stock broker operating under HDFC Bank’s umbrella. Catering to trading and investment needs, the platform facilitates transactions across shares, bonds, futures, options, mutual funds, IPOs, etc. Registered with SEBI, HDFC Securities holds memberships in major exchanges, including BSE, NSE, MCX, CDSL, and NSDL.

Fees/Charges of HDFC Securities- 4th among the Top 8 Share Brokers in India

  • Competitive brokerage charges with the lowest brokerage of 0.10% per trade for Equity Delivery.
  • Account opening fee of Rs 999 and various segment-specific brokerage rates.
  • Brokerage for Delivery Based Trades (Equity Segment):
  • Resident Indians: 0.50% / min Rs 25 / ceiling of 2.5% on transaction value (Both Buy & Sell)
  • NRI’s: 0.75% or min Rs 100 / ceiling of 2.5% on transaction value (Both Buy & Sell)

Unique Selling Propositions (USPs):

  • Offers a comprehensive suite of over 30 products and services to 1,800,000+ clients.
  • Provides a 3-in-1 account for savings, trading, and a Demat account, ensuring a seamless investment experience. Pros:
  • Integrated 3-in-1 account (banking- broking- demat accounts).
  • Access to multiple assets such as IPOs, Mutual Funds, GOI Bonds, Insurance, and Postal Savings Schemes from a single platform on both BSE and NSE.

Zerodha#5 – Zerodha- Top Share Broker in India

Zerodha, established in 2010, holds the 5th position among the top 8 share brokers in India. Zerodha was founded with a visionary outlook by Nithin Kamath, Nikhil Kamath, and Dr. Kailash Nadh. With memberships in NSE, BSE, MCX, and CDSL, Zerodha emphasizes strict adherence to regulatory standards.

Brokerage Charges of Zerodha- 5th among the Top 8 Share Brokers in India

  • Equity Delivery: Rs 0 (Free)
  • Equity Intraday, Equity Futures, Equity Options, Currency Futures, Currency Options, Commodity: Flat Rs 20 or 0.03% per executed order (whichever is lower)
  • Mutual Fund: Rs 0 (Free Unlimited Direct MF)
  • Account Opening Charges: Online Account Opening – Rs 200, Offline Account Opening – Rs 400, Demat Account AMC – Rs 300 per year.

Unique Selling Propositions (USPs)

  • Offers cutting-edge online trading tools and a commitment to technological advancement.
  • Zero brokerage fees for Equity Delivery and Mutual Funds, with a maximum charge of Rs 20 per trade, ensuring significant savings compared to traditional brokers.
  • Provides up to 20x leverage on intraday trading, catering to diverse investor profiles.
  • Multiple Platforms like Zerodha Kite, Coin, Varsity, etc.

Angel One#6 – Angel One- Best Trading Platform in India

Securing the sixth position in the rankings of top share brokers in India, Angel One has been a prominent financial services provider in India since 1987. Its offerings encompass a diverse range of financial products and services.

Fees/Charges of Angel One- Ranked 6th among top 8 Share Brokers in India

Angel One follows a transparent pricing model, imposing brokerage charges across various segments:

  • Equity Delivery Brokerage: Flat Rs 0 (Free)
  • Equity Intraday Brokerage: Flat Rs 20 or 0.25% (whichever is lower)
  • Equity F&O Brokerage: Flat Rs 20 or 0.25% (whichever is lower)
  • Currency F&O Brokerage: Flat Rs 20 or 0.25% (whichever is lower)
  • Commodity F&O Brokerage: Flat Rs 20 or 0.25% (whichever is lower)

Unique Selling Propositions (USPs)

  • Boasts a user-friendly, swift, and secure trading platform equipped with essential features.
  • Caters to a wide range of financial instruments, including stocks, commodities, currencies, etc.

ICICI Direct#7 –  ICICI Direct- Best Trading App in India

Ranked seventh among the top 8 brokers, ICICI Direct is an integral part of the ICICI Group, serving a customer base exceeding 50 lakh. Specialising in online trading, it offers comprehensive services for equity, commodity, and currency trading on BSE, NSE, and MCX. Its offerings include Mutual Funds & IPOs, fixed deposits, bonds, NCD, wealth products, Home Loans, and Loans against Securities.

Fees/Charges of ICICI Direct- Ranked 7th among Top 8 Share Brokers in India

ICICI Direct offers multiple brokerage plans to meet diverse needs. For example, the Neo Plan charges a flat Rs 20 per executed order for Equity Intraday and Options trading, with a 0.55% brokerage for equity delivery.

Account maintenance features free account opening and an annual maintenance charge (AMC) of Rs 300 for the Demat Account.

Additional charges include Rs 20 per transaction for Demat Debit Transactions (Sell Orders) and Rs 50 per order for Call and trade.

Unique Selling Propositions (USPs)

  • Varied brokerage plans like I-Secure Plan, ICICI Direct Prime Plan, Lifetime Prepaid Brokerage Plan, and Neo Plan.
  • The Neo Plan adopts a flat-rate brokerage approach, enabling brokerage-free equity futures trading.
  • 3-in-1 account integration seamlessly combines banking, broking, and demat accounts.
  • VTC Feature (Valid Till Cancelled) enables customers to place buy or sell limit orders valid for 45 days.

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Kotak Securities#8 – Kotak Securities Ltd- Best Trading App in India

Founded in 1994, Kotak Securities Ltd. is a full-service stock broker in India, offering retail investors a 3-in-1 account for seamless trading. The platform provides diverse investment opportunities spanning equities, derivatives, commodities, currency, and mutual funds.

Fees/Charges of Kotak Securities- Ranked 8th among the Top 8 Share Brokers in India

Kotak Securities Trade Free Plan:

  • Account Opening Fee: Free
  • Plan Fee: Rs 99 (Incl. of GST)
  • Intraday Brokerage: Free (All segments)
  • Equity Delivery: 0.25% or Rs 20 (whichever is higher)
  • Carry forward (All applicable segments): Rs 20 per order
  • Interest on Margin Trading Facility: 0.049% per day
  • Demat AMC: Rs 50 per month

Dealer Assisted Brokerage Plan:

  • Account Opening Fee: Rs 499 (One time)
  • Brokerage Charges vary for different segments, with minimum brokerage applicable.
  • Interest rates for Margin Trading Facility and stock used as margin for derivative trades also vary.

Unique Selling Propositions (USPs)

  • Offers a 3-in-1 account for a seamless trading experience.
  • Provides free technical, fundamental, derivatives, macro-economic, and mutual fund research.

Conclusion

This ends our list of the top 8 share brokers in India. Whether you are looking for a low-cost, user-friendly, or comprehensive broker, you can find one that meets your expectations.

Suresh KP

10 comments

  1. Hi sir Shoonya is giving zero brokerage cost . How it’s possible sir .how they are getting revenue sir .do we have any risk in that .
    Just thinking of zerodha for long term and shoonya for short team ETF trading sir with less risk . Let me know your suggestion.

  2. Hello Suresh,

    Currently I’m holding a Demat account with ICICI Direct, however, I am not a frequent investor, interested mostly in long term . ICICI is charging a lot both for trading as well as maintenance. If I switch to some economical options like Shoonya or Zerodha, is it possible to move my existing shares to the new broker? Please advise on this. Thank you

    1. Ganesh, Earlier I had ICICI direct and then shifted to Zerodha few years back. You can shift your demat holdings to Zerodha or any other demat account. First open new demat account and then approach their customer support for transfer of shares.

  3. I need a help and advice on investing in senior citizen savings scheme (SCSS).
    Is it possible to invest max limit of 30 lacks in my name as well as in my wife’s name separately. She also have pan card and aadhar card separately.
    Kindy advice
    Regards

      1. Thank you for your prompt reply. She is also senior citizen aged 81.
        Once again thanks for prompt reply

  4. Thank you … Did you or anyone you know use these brokers for their trading? is the article based on such feedbacks?

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