Top 10 Stock Brokers in India 2024 (Active Clients)

The Top 10 Stock Brokers in India based on the active client list are here. Investing in the stock market is a popular way for individuals to grow their wealth, and in a country as dynamic as India, the stock market is a thriving hub of activity. With numerous stockbrokers competing for your business, it can be challenging to select the right one. In 2024, the stock market continues to evolve, and investors are looking for reliable partners to help them navigate these changes.

Top 10 Stock Brokers in India 2024 (Active Clients)

The Top 10 Stock Brokers in India 2024 report is based on Active Client Data wise as per the latest Data.

  Active Client Data Based On (1 January 2024)

To assist you in your investment journey, we have compiled a list of the top 10 stockbrokers in India for 2024, considering factors like reliability, technology, customer service, and brokerage fees.

Top 10 Stock Brokers in India 2024 (Active Clients) :

1- Groww :

Groww is an online stock broker and investment platform that was founded in 2016. It is one of the fastest-growing stock brokers in India, with over 70+ lakh active clients. Groww surpassed Zerodha to become India’s leading brokerage in terms of the number of active investors, as per the latest data. Groww is known for its user-friendly trading platform, its low brokerage rates, and its focus on customer education.

Groww offers a range of trading products and services, including equity trading, futures and options trading, and mutual fund investing. It also offers a variety of research and advisory tools to help investors make informed investment decisions.

Groww is a popular choice for new investors and experienced investors alike. It is a good option for investors who are looking for a low-cost, easy-to-use trading platform with access to a wide range of trading products and services.

Here are some of the pros and cons of using Groww as your stock broker:

Pros:

• Low brokerage rates
• User-friendly trading platform
• Wide range of trading products and services
• A variety of research and advisory tools
• Good customer service

Cons:

• Limited trading features
• No physical branches
• Can be slow during peak times

Overall, Groww is a good stock broker for investors who are looking for a low-cost, easy-to-use trading platform with access to a wide range of trading products and services.

2- Zerodha :

Zerodha is an online discount stock broker that was founded in 2010. It is the 2nd largest stock broker in India by active clients as per the latest data ^{(01 Jan 2024)}, with over 66+ lakh active clients. Zerodha is known for its low brokerage rates, its user-friendly trading platforms, and its focus on innovation.

Zerodha offers a range of trading products and services, including equity trading, futures and options trading, currency trading, and commodity trading. It also offers a variety of research and advisory tools to help investors make informed investment decisions.

Read also: How to Calculate Compound Interest?

Zerodha is a popular choice for both new and experienced investors. It is a good option for investors who are looking for a low-cost, easy-to-use trading platform with access to a wide range of trading products and services.

Here are some of the pros and cons of using Zerodha as your stock broker:

Pros:

• Low brokerage rates
• User-friendly trading platforms
• Wide range of trading products and services
• A variety of research and advisory tools
• Good customer service

Cons:

• Limited trading features
• No physical branches
• Can be slow during peak times

Overall, Zerodha is a good stock broker for investors who are looking for a low-cost, easy-to-use trading platform with access to a wide range of trading products and services.

In addition to the above, here are some of the unique features of Zerodha:

• Kite: Zerodha’s flagship trading platform is Kite, which is available on the web and mobile. Kite is known for its user-friendly interface and its advanced features, such as charting and technical analysis tools.
• Coin: Zerodha’s Coin platform allows investors to invest in direct mutual funds without any commissions or fees.
• Varsity: Zerodha’s Varsity platform offers a variety of educational resources for investors, including articles, videos, and courses.

Overall, Zerodha is a good stock broker for investors of all levels of experience. It offers a low-cost, easy-to-use trading platform with access to a wide range of trading products and services.

3- Angel One :

Angel One is a full-service stock broker that was founded in 1990. It is one of the largest stock brokers in India by active clients, with over 50+ lakh active clients. Angel One is known for its wide range of trading products and services, its research and advisory services, and its focus on customer service.

Angel One offers a wide range of trading products and services, including equity trading, futures and options trading, currency trading, commodity trading, and mutual fund investing. It also offers a variety of research and advisory services to help investors make informed investment decisions.

Angel One is a popular choice for both new and experienced investors. It is a good option for investors who are looking for a full-service stockbroker with a wide range of trading products and services, as well as research and advisory services.

Read also: What Is CAGR & How to Calculate CAGR?

Here are some of the pros and cons of using Angel One as your stock broker:

Pros:

• Wide range of trading products and services
• Research and advisory services
• Good customer service
• User-friendly trading platform
• Competitive brokerage rates

Cons:

• Higher brokerage rates than discount brokers
• Limited trading features
• Can be slow during peak times

Overall, Angel One is a good stock broker for investors who are looking for a full-service stockbroker with a wide range of trading products and services, as well as research and advisory services.

In addition to the above, here are some of the unique features of Angel One:

• Angel One SmartAPI: Angel One’s SmartAPI is a developer platform that allows developers to build their own trading applications and tools.
• Angel One ARQ: Angel One’s ARQ is a research and advisory platform that offers a variety of tools and resources to help investors make informed investment decisions.
• Angel One Academy: Angel One’s Academy offers a variety of educational resources for investors, including articles, videos, and courses.

Overall, Angel One is a good stock broker for investors of all levels of experience. It offers a wide range of trading products and services, as well as research and advisory services.

4- Upstox :

Upstox is a discount stock broker that was founded in 2012. It is one of the largest stock brokers in India by active clients, with over 22+ lakh active clients. Upstox is known for its low brokerage rates, its user-friendly trading platform, and its focus on innovation.

Upstox offers a range of trading products and services, including equity trading, futures and options trading, currency trading, and commodity trading. It also offers a variety of research and advisory tools to help investors make informed investment decisions.

Upstox is a popular choice for both new and experienced investors. It is a good option for investors who are looking for a low-cost, easy-to-use trading platform with access to a wide range of trading products and services.

Here are some of the pros and cons of using Upstox as your stock broker:

Pros:

• Low brokerage rates
• User-friendly trading platform
• Wide range of trading products and services
• A variety of research and advisory tools
• Good customer service

Cons:

• Limited trading features
• No physical branches
• Can be slow during peak times

Overall, Upstox is a good stock broker for investors who are looking for a low-cost, easy-to-use trading platform with access to a wide range of trading products and services.

In addition to the above, here are some of the unique features of Upstox:

• Upstox Pro: Upstox Pro is Upstox’s advanced trading platform that offers a variety of features, such as multiple chart layouts, technical analysis tools, and backtesting capabilities.
• Upstox API: Upstox’s API allows developers to build their own trading applications and tools.
• Upstox Academy: Upstox’s Academy offers a variety of educational resources for investors, including articles, videos, and courses.

Overall, Upstox is a good stock broker for investors of all levels of experience. It offers a low-cost, easy-to-use trading platform with access to a wide range of trading products and services.

5- ICICI Securities :

ICICI Securities is the stock broking arm of ICICI Bank, one of the largest private banks in India. It is a full-service stock broker that offers a wide range of trading products and services, as well as research and advisory services. ICICI Securities is known for its reliability and its focus on customer service.

Here are some of the pros and cons of using ICICI Securities as your stock broker:

Pros:

• Wide range of trading products and services
• Research and advisory services
• Good customer service
• User-friendly trading platform
• Reliable and trustworthy

Cons:

• Higher brokerage rates than discount brokers
• Limited trading features
• Can be slow during peak times

Overall, ICICI Securities is a good stock broker for investors who are looking for a full-service stockbroker with a wide range of trading products and services, as well as research and advisory services.

Read also:What is Initial Public Offering

In addition to the above, here are some of the unique features of ICICI Securities:

• ICICI Direct: ICICI Direct is ICICI Securities’ online trading platform. It is a user-friendly platform that offers a variety of features, such as charting and technical analysis tools.
• ICICI Direct Research: ICICI Securities’ research team produces a variety of research reports and analyses on Indian stocks and markets.
• ICICI Direct Advisory: ICICI Securities’ advisory team provides personalized investment advice to clients.

Overall, ICICI Securities is a good stock broker for investors of all levels of experience. It offers a reliable and trustworthy trading platform with access to a wide range of trading products and services, as well as research and advisory services.

However, it is important to note that ICICI Securities’ brokerage rates are higher than those of discount brokers. Additionally, its trading platform may not be as robust as those of some of the other brokers on this list.

6- HDFC Securities :

HDFC Securities is the stock broking arm of HDFC Bank, one of the largest private banks in India. It is a full-service stock broker that offers a wide range of trading products and services, as well as research and advisory services. HDFC Securities is known for its reliability and its focus on customer service.

Here are some of the pros and cons of using HDFC Securities as your stock broker:

Pros:

• Wide range of trading products and services
• Research and advisory services
• Good customer service
• User-friendly trading platform
• Reliable and trustworthy

Cons:

• Higher brokerage rates than discount brokers
• Limited trading features
• Can be slow during peak times

Overall, HDFC Securities is a good stock broker for investors who are looking for a full-service stockbroker with a wide range of trading products and services, as well as research and advisory services.

In addition to the above, here are some of the unique features of HDFC Securities:

• HDFC Securities NetTrade: HDFC Securities’ online trading platform is called NetTrade. It is a user-friendly platform that offers a variety of features, such as charting and technical analysis tools.
• HDFC Securities Research: HDFC Securities’ research team produces a variety of research reports and analyses on Indian stocks and markets.
• HDFC Securities Advisory: HDFC Securities’ advisory team provides personalized investment advice to clients.

Overall, HDFC Securities is a good stock broker for investors of all levels of experience. It offers a reliable and trustworthy trading platform with access to a wide range of trading products and services, as well as research and advisory services.

However, it is important to note that HDFC Securities’ brokerage rates are higher than those of discount brokers. Additionally, its trading platform may not be as robust as those of some of the other brokers on this list.

6- Kotak Securities :

Kotak Securities is the stock broking arm of Kotak Mahindra Bank, one of the largest private banks in India. It is a full-service stock broker that offers a wide range of trading products and services, as well as research and advisory services. Kotak Securities is known for its reliability and its focus on customer service.

Here are some of the pros and cons of using Kotak Securities as your stock broker:

Pros:

• Wide range of trading products and services
• Research and advisory services
• Good customer service
• User-friendly trading platform
• Reliable and trustworthy

Cons:

• Higher brokerage rates than discount brokers
• Limited trading features
• Can be slow during peak times

Overall, Kotak Securities is a good stock broker for investors who are looking for a full-service stockbroker with a wide range of trading products and services, as well as research and advisory services.

In addition to the above, here are some of the unique features of Kotak Securities:

• Kotak Securities Keatrade: Kotak Securities’ online trading platform is called Keatrade. It is a user-friendly platform that offers a variety of features, such as charting and technical analysis tools.
• Kotak Securities Research: Kotak Securities’ research team produces a variety of research reports and analyses on Indian stocks and markets.
• Kotak Securities Advisory: Kotak Securities’ advisory team provides personalized investment advice to clients.

Overall, Kotak Securities is a good stock broker for investors of all levels of experience. It offers a reliable and trustworthy trading platform with access to a wide range of trading products and services, as well as research and advisory services.

However, it is important to note that Kotak Securities’ brokerage rates are higher than those of discount brokers. Additionally, its trading platform may not be as robust as those of some of the other brokers on this list.

It is also important to compare brokerage rates and trading fees before choosing a stock broker. You should also consider the features and functionality of the broker’s trading platform. Finally, you should read reviews of different stock brokers to get a sense of their customer service and reputation.

7- Motilal Oswal Financial Services :

Motilal Oswal Financial Services Limited (MOFSL) is a diversified financial services company that offers a wide range of financial products and services, including stock broking, investment banking, asset management, and wealth management.

Motilal Oswal Securities is the stockbroking arm of the group. It is a full-service stock broker that offers a wide range of trading products and services, as well as research and advisory services. Motilal Oswal Securities is known for its strong research team and its focus on customer service.

Here are some of the pros and cons of using Motilal Oswal Securities as your stock broker:

Pros:

• Wide range of trading products and services
• Research and advisory services
• Good customer service
• User-friendly trading platform
• Reliable and trustworthy

Cons:

• Higher brokerage rates than discount brokers
• Limited trading features
• Can be slow during peak times

Overall, Motilal Oswal Securities is a good stock broker for investors who are looking for a full-service stockbroker with a wide range of trading products and services, as well as research and advisory services.

In addition to the above, here are some of the unique features of Motilal Oswal Securities:

• Motilal Oswal MOVE: Motilal Oswal’s online trading platform is called MOVE. It is a user-friendly platform that offers a variety of features, such as charting and technical analysis tools.
• Motilal Oswal Research: Motilal Oswal’s research team produces a variety of research reports and analyses on Indian stocks and markets.
• Motilal Oswal Advisory: Motilal Oswal’s advisory team provides personalized investment advice to clients.

Overall, Motilal Oswal Securities is a good stock broker for investors of all levels of experience. It offers a reliable and trustworthy trading platform with access to a wide range of trading products and services, as well as research and advisory services.

However, it is important to note that Motilal Oswal Securities’ brokerage rates are higher than those of discount brokers. Additionally, its trading platform may not be as robust as those of some of the other brokers on this list.

However, it is important to note that Motilal Oswal’s brokerage rates are higher than those of discount brokers. Additionally, its trading platform may not be as robust as those of some of the other brokers on this list.

Ultimately, the best stock broker for you will depend on your individual needs and preferences.

8- Paytm Money :

Paytm Money is a digital financial services company that offers a range of financial products and services, including stock broking, mutual funds, insurance, and digital gold. Paytm Money’s stock broking platform is one of the largest in India, with over 6+ lakh active clients.

Paytm Money is known for its low brokerage rates and its user-friendly trading platform. It also offers a variety of research and advisory tools to help investors make informed investment decisions.

Here are some of the pros and cons of using Paytm Money as your stock broker:

Pros:

• Low brokerage rates
• User-friendly trading platform
• Wide range of trading products and services
• A variety of research and advisory tools
• Good customer service

Cons:

• Limited trading features
• No physical branches
• Can be slow during peak times

Overall, Paytm Money is a good stock broker for investors who are looking for a low-cost, easy-to-use trading platform with access to a wide range of trading products and services.

Paytm Money also uses a variety of security measures to protect its clients’ data and funds. For example, Paytm Money uses two-factor authentication (2FA) to protect all user accounts. Paytm Money also uses encryption to protect all data transmitted between its servers and its clients’ devices.

Overall, Paytm Money is a safe stock broker to use. It is subject to strict regulatory oversight and uses a variety of security measures to protect its clients’ data and funds.

How to choose the right stock broker for you

The best stock broker for you will depend on your individual needs and preferences. When choosing a stock broker, you should consider the following factors:

• Brokerage rates: Different stock brokers charge different brokerage rates. It is important to compare brokerage rates from different brokers before choosing one.
• Trading platform: The trading platform is the software that you will use to place and manage your trades. It is important to choose a broker that offers a trading platform that is easy to use and meets your needs.
• Research and advisory services: Some stock brokers offer research and advisory services to help investors make informed investment decisions. If you are new to investing, you may want to consider a broker that offers these services.
• Customer service: It is important to choose a stockbroker with good customer service. This is especially important if you are new to investing and have a lot of questions.

Once you have considered these factors, you can start comparing different stock brokers. You can read reviews of different stock brokers online or ask other investors for recommendations.

9- SBI Securities :

SBI Securities is a full-service stock broker that is part of the State Bank of India (SBI) Group. It offers a wide range of trading products and services, as well as research and advisory services. SBI Securities is known for its reliability and its focus on customer service.

Here are some of the pros and cons of using SBI Securities as your stock broker:

Pros:

• Wide range of trading products and services
• Research and advisory services
• Good customer service
• Reliable and trustworthy

Cons:

• Higher brokerage rates than discount brokers
• Limited trading features
• Can be slow during peak times

Overall, SBI Securities is a good stock broker for investors who are looking for a full-service stockbroker with a wide range of trading products and services, as well as research and advisory services.

However, it is important to note that SBI Securities’ brokerage rates are higher than those of discount brokers. Additionally, its trading platform may not be as robust as those of some of the other brokers on this list.

If you are a beginner investor, you may want to consider a discount broker with a user-friendly trading platform and low brokerage rates. Once you have gained more experience, you can then consider switching to a full-service broker like SBI Securities for its research and advisory services.

How to choose the right stock broker for you

The best stock broker for you will depend on your individual needs and preferences. When choosing a stock broker, you should consider the following factors:

• Brokerage rates: Different stock brokers charge different brokerage rates. It is important to compare brokerage rates from different brokers before choosing one.
• Trading platform: The trading platform is the software that you will use to place and manage your trades. It is important to choose a broker that offers a trading platform that is easy to use and meets your needs.
• Research and advisory services: Some stock brokers offer research and advisory services to help investors make informed investment decisions. If you are new to investing, you may want to consider a broker that offers these services.
• Customer service: It is important to choose a stockbroker with good customer service. This is especially important if you are new to investing and have a lot of questions.

Once you have considered these factors, you can start comparing different stock brokers. You can read reviews of different stock brokers online or ask other investors for recommendations.

10- Sharekhan :

Sharekhan is a full-service stock broker in India that offers a wide range of trading products and services, as well as research and advisory services. It is one of the largest stock brokers in India, with over 6+ lakh active clients.

Sharekhan is known for its user-friendly trading platform, its wide range of research and advisory tools, and its focus on customer service. Sharekhan also offers a variety of educational resources to help investors learn about the stock market and make informed investment decisions.

Here are some of the pros and cons of using Sharekhan as your stock broker:

Pros:

• User-friendly trading platform
• Wide range of trading products and services
• A variety of research and advisory tools
• Good customer service
• Educational resources

Cons:

• Higher brokerage rates than discount brokers
• Limited trading features
• Can be slow during peak times

Overall, Sharekhan is a good stock broker for investors of all levels of experience. It offers a user-friendly trading platform, a wide range of trading products and services, and a variety of research and advisory tools. Sharekhan also offers educational resources to help investors learn about the stock market and make informed investment decisions.

However, it is important to note that Sharekhan’s brokerage rates are higher than those of discount brokers. Additionally, its trading platform may not be as robust as those of some of the other brokers on this list.

Here are some of the unique features of Sharekhan:

• Sharekhan TradeTiger: Sharekhan TradeTiger is Sharekhan’s desktop trading platform. It is a user-friendly platform that offers a variety of features, such as charting and technical analysis tools.
• Sharekhan App: Sharekhan’s mobile app is available for Android and iOS devices. It allows investors to trade on the go.
• Sharekhan Research: Sharekhan’s research team produces a variety of research reports and analyses on Indian stocks and markets.
• Sharekhan Advisory: Sharekhan’s advisory team provides personalized investment advice to clients.

If you are a beginner investor, you may want to consider a discount broker with a user-friendly trading platform and low brokerage rates. Once you have gained more experience, you can then consider switching to a full-service broker like Sharekhan for its research and advisory services.

How to choose the right stock broker for you :

The best stock broker for you will depend on your individual needs and preferences. When choosing a stock broker, you should consider the following factors:

• Brokerage rates: Different stock brokers charge different brokerage rates. It is important to compare brokerage rates from different brokers before choosing one.
• Trading platform: The trading platform is the software that you will use to place and manage your trades. It is important to choose a broker that offers a trading platform that is easy to use and meets your needs.
• Research and advisory services: Some stock brokers offer research and advisory services to help investors make informed investment decisions. If you are new to investing, you may want to consider a broker that offers these services.
• Customer service: It is important to choose a stockbroker with good customer service. This is especially important if you are new to investing and have a lot of questions.

Once you have considered these factors, you can start comparing different stock brokers. You can read reviews of different stock brokers online or ask other investors for recommendations.

Disclaimer: Stock Market Investments are Subject to Market risks read all scheme-related documents carefully Before Investing.