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There are 250+ brokers in India, but 60% of the market share captures by the top 10 brokers. If you're struggling to open an account with the best broker, then you are at the right place to have a glance at the list of Top 10 stockbrokers in India.
There are many discounts and full-service brokers in the Indian brokerage space, however, which is the best brokerage house questionable? There are many factors still among all the number of active clients, or user base is the topmost important factor to choosing the top stockbroker. Zerodha is the best stock broker in India with the highest active customer base (60 Lakh+), holding above 18% market share, followed by Upstox, Groww, and Angel Broking. A broker with a large customer base is a sign of a reputed & trustworthy brand name and better services to customers, therefore, subject to the minimal probability of bankruptcy. To select the best broker, you may also look at factors including but not restricted to user-friendly trading platforms, brokerage charges, product offerings, and more.
Here is a list of the best or top 10 stock brokers in India ranked by active client base.
| Broker | detail | Review | Request Callback |
|---|---|---|---|
| Prostocks | Best broker offering Monthly Plan @899 |  | Open Account  |
| Zerodha | Zerodha ranked number 1 broker with active clients 6392902 | | Open Account |
| Groww | Groww ranked number 2 broker with active clients 5373705 | | Open Account |
| Angel One | Angel One ranked number 3 broker with active clients 4281951 | | Open Account |
| Upstox | Upstox ranked number 4 broker with active clients 2880604 | | Open Account |
| ICICIDirect | ICICIDirect ranked number 5 broker with active clients 2333088 | | Open Account |
Zerodha Free Demat Account | |||
| HDFC Securities | HDFC Securities ranked number 6 broker with active clients 1063911 | | Open Account |
| Kotak Securities | Kotak Securities ranked number 7 broker with active clients 923785 | | Open Account |
| Motilal Oswal | Motilal Oswal ranked number 8 broker with active clients 805125 | | Open Account |
| Sharekhan | Sharekhan ranked number 9 broker with active clients 694334 | | Open Account |
| 5paisa | 5paisa ranked number 10 broker with active clients 652353 | | Open Account |
Zerodha is the best brokerage firm in India having over 60 Lakh active customers.. The broker offers online trading in the equities, F&O, commodities, and currencies segments at a flat Rs. 20 brokerage fee. Kite, the flagship web and mobile trading platform, is a user-friendly platform with many innovative features to meet traders' requirements. Moreover, Zerodha Coin platform allows users to invest in direct mutual funds with no brokerage fees.
Besides Zerodha, Upstox and Groww are the other top brokers with a significant client base, and a Rs. 20 fixed pricing model. However, if you are also looking to access market and stock research, Angel broking is the best broker for you that offers many fundamental and technical research reports.
Zerodha is the best stock broker in India in terms of the total active user base of 60 Lakh and an 18% market share. It is India's most preferred brokerage firm due to the following facts;
Upstox has emerged as one of the top discount brokers in India after Zerodha for retail traders and investors. The broker charges Rs. 20 brokerage on equity delivery, intraday, F&O, commodity, and currency segments regardless of the trade value. Upstox Pro (web and mobile app) is one of the best platforms for online trading with a host of unique features such as instant fund transfer, advanced charting, 10+ years of historical data, guest login, and other features.
Although Upstox does not offer free delivery trading but allows zero brokerage investment in direct mutual funds. Upstox customers can also invest in 24K digital gold and global investment in 60+ exchanges across the world.
Zerodha Broking Ltd, founded in 2010, and today, it is the largest stockbroker in India with 60 lakh clients on BSE and NSE platforms. It is pioneering the flat brokerage pricing model and its Rs. 20 Max brokerage plan enables the broker to become the largest brokerage firm in India. After Zerodha, many other brokers such as Upstox, 5Paisa, Groww, and even full-service brokers like Edelweiss have launched their flat brokerage model.
Zerodha is a CDSL depository participant, and in any circumstances, if the broker shuts down, then investment in stocks remains safe. It is because; your investment is with CDSL and NSDL DP, and in case of bankruptcy, customers can open a new trading account with another broker and get their shares back through linking to the CDSL Demat account. Thus, customers don't need to be worried about the broker's business shut down or failure.
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