In recent times, it has been found that investors have been pouring their money into the Indian stock market. While the general perception is that stock market investments carry high levels of risk as compared to other investment channels, the rapid growth of the Indian stock market has lured many towards stock market investments. According to a report by Goldman Sachs, the Indian stock market can grow to over $5 trillion to become the fifth largest market in the world in just three years. All the top stock brokers in India have been witnessing an upsurge in the number of investors willing to invest their money in different stocks.
Now, if you are willing to invest in stocks, the first thing you need to keep in mind is that you would need a stockbroker who will act as an intermediary between you and the stock market. The role of a stockbroker is paramount as he acts as your single point of contact for everything related to stock investments. This is why all investors prefer to choose the top brokers in India to get their services. There are primarily two types of stockbrokers in India– Full-Service Stockbrokers and Discount Brokers.
While a full-service broker provides all types of trading tools along with investment guidance in exchange for a higher cost, a discount stock broker provides all relevant trading tools for a reasonable fee or low cost. Below are some of the leading stock brokers in India.
Considering the frontrunner in the discount stockbroking landscape, Zerodha is based out of Bengaluru and accounts for over 15% of the overall retail trading volume in the country. The leading discount broker was founded by Mr. Nitin Kamath in the year 2010 Kamath and it has a client base of over 3 million at present.
Zerodha is a combination of Zero + Rodha. Zero refers to 0 whereas the term‘Rodha’ means barriers. This way, Zerodha is poised to break all the fences of trading that stock investors usually face like high brokerage charges and sub-standard trading tools.
As compared to other stock brokers in India, Zerodha is known to have a simple brokerage pattern which makes it a go-to choice for both new and experienced stock investors.
Another popular name on the list of stockbrokers is Upstox. It is one of the rapidly growing stockbrokers in the country and usually preferred by high volume traders searching for high margins, competitive brokerage, and state-of-the-art trading platforms.
The biggest plus with Upstox is that it is supported by some of the notable businessmen of India like Mr. Ratan Tata, Kalaari Capital, and GVK Davix.
The brokerage of Upstox is in line with Zerodha. However, it incurs zero brokerage for the delivery segment.
3. Angel Broking
Launched in 1987, Angel Broking is one of the established names in the stockbroking industry and is essentially known for its advanced trading platforms and result-oriented research and advisory service.
Angel broking also offers services in the commodity category and is a member of NCDEX & MCX. The stockbroking firm is also registered with CDSL.
Angel Broking offers a flat 20% discount on brokerage on all types of online transactions. It even provides free SMS advisory services for the initial 3 months.
4. India Infoline (IIFL)
India Infoline or IIFL is one of the reputed names in the stockbroking segment. The stockbroker started its operations in 1996 and gained immense popularity in a very short period. At present, it has a remarkable presence in over 500 locations across the country.
IIFL offers a wide variety of financial products as stocks, bonds, derivatives, MF, IPO, Insurance, and Corporate FDs. However, it is important to note that the stockbroker doesn’t have a bank license and it doesn’t offer Direct Mutual Funds.
Being one of the leading stock brokers in India, Sharekhan is known to have over 12 lakh clients at present. The stockbroker came into action in the year 2000 under SSKI Group. The stockbroking firm was acquired by BNP Paribas for Rs. 2200 crores in 2015.
In terms of total customer base, Sharekhanranks 3rd after Zerodha and ICICI Direct. The stockbroker has witnessed tremendous growth in recent times. Sharekhan brokerage charges are a bit higher in comparison to other full-service brokers.
There are many other full-service and discount brokers in India that provide a plethora of stock investment services to investors. The selection of a particular stockbroker depends on a number of things like brokerage, trading platforms, advisory services, customer support, account opening procedure, and others.