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How to find the Best Stock Brokers in India 2020

If you are looking to start investing your hard earned rupees into the stock market, you are going to need to get a broking account.

Finding the right broker is not an easy task. You need to make a list of the things that you are expecting from your broker in-order to be able to find the best stock broker in India for you easily.

Many people think that all brokers are the same, and that there is no difference between two brokers. That is a misconception.

When you are looking to get into the stock market, and start trading, and make profits, not losses on your investments, you need to have a good broker who knows their stuff well.

In this article, we will talk about the different types of brokers present in the market, and how to judge them based on certain criteria.

Best Stock Broker in India 2020

There are hundreds of stock brokers operating in India. But without doubt, below are the top 10 stock brokers of India.

There are basically two types of stock market brokers namely,

  • Full Service Stock Brokers
  • Discount Stock Brokers

Full Service Brokers

stock broker service

Full service brokers offer services matching their name sake. They offer end to end solutions for your stock broking needs. They help you open a demat account, give you optimised research and information regarding purchase of shares and investments, as well as help you out with tax planning and retirement planning services.

Among these type of brokers, bank subsidiaries are mostly common with the salaried crowd, as they open up three in one accounts at the start of their employment with a partner company, consisting of a salary savings account, a demat account and a trading account.

In terms of active clients and returns, the best stock broker in India is Zerodha which has the largest number of active clients as on March 2020, and have a great research team which delivers great insights which help clients get more returns on their investments.

They offer the best demat account in India which can be easily managed by users by logging into a dedicated website with a dashboard feature to track investments. With the tight integration between the 3 in 1 accounts, money earned from trading is immediately available in the savings account and can be withdrawn easily.

The big players in this market are ICICI Securities, HDFC Securities, and Kotak Securities.

Whereas other full service brokers offer all of the other facilities that the bank subsidiaries provide, they do not offer a savings account. These include brokerage firms like Angel Securities, Sharekhan , Anandrathi and so forth.You can get more info here.

Discount Brokers

Discount brokers offer no-frills accounts, with just the bare basics required for you to trade. This option is not preferable if you are a newbie to stocks, because you will miss out on the valuable insight and analysis that full service brokerage firms offer with their packages.

Your money is as safe with discount brokers as it is with full service brokers, but you will be mostly on your own when it comes to investing and growing your money, which is great if you are an experienced pro and don’t need people watching your back. The discount players are companies like Zerodha, Smart Trade Online and so forth.

Stock Brokers with Lowest Brokerage Charges

As you might have understood by now, discount brokers offer cheapest brokerage charges in India. So if someone trades very frequently, these type of brokers are good for them.

Let us have look at some of the reputed discount stock brokers of India.

#1. Zerodha

Zerodha is the biggest stock broker of India as on date. They started their operation in year 2010 as start up.

But now they have left behind the likes of ICICI Direct and Sharekhan who were well established, to become most valuable stock brokerage firm of India.


Zerodha is the first discount broker of India. They started charging brokerage of flat Rs20/trade when popular brokers charged higher brokerage charges.

For all the investment, the brokerage is Zero. For all other segments like intraday, Futures and Options, Currency and Commodities, a commission of Rs20/trade is levied irrespective of total traded values.

Their trading platforms which is called KITE is also considered as one of the best trading platform and best mobile app for traders.

With zero brokerage for delivery and brand value, Zerodha indeed is the best stock broker in India.

#2. Upstox

Upstox is second most popular discount broker. It was previously known as RKSV securities.

The brokerage structure is almost same as that of Zerodha. No brokerage for delivery trades and Rs 20/trade for all other segments.


#3. 5Paisa

5Paisa is discount brokerage arm of India Infoline (IIFL) which is one of the well established and reputed full service broker of India.

5Paisa charge Rs10/executed which is less compared to Zerodha and Upstox. However, delivery brokerage is not free.


#4. TradeSmartOnline

TradeSmartOnline is discount brokerage branch of VNS Capital which is in stock brokerage industry for more than 3 decades and highly rated stock broker of India.

TradeSmartOnline has two different plans, Flat fee plan and %age plan.

In flat fee plan, they charge fixed commission of Rs 15/trade. In value plan, they charge 0.007% for intraday and 0.07% for delivery.


#5. Tradejini

Tradejini is Bengaluru based discount broker well known for their superior customer service.

Brokerage is Rs20/trade for all segments. They provide NEST trading platform to their customers.

They also offer first 30 days of brokerage free trading across all segments.


#6. ICICI Direct

ICICI Direct was largest stock broker of India before over taken by Zerodha. It is one of the top rated brokerage companies of India.

They are the pioneer in introducing online trading in India around year 2000.

Backed by prominent private sector bank of India, ICICI bank, ICICI Direct command good amount of trust

But the brokerage charges of them is on higher side and they are not recommended for day traders.

ICICI Direct charges 0.55% for delivery and 0.05% for intraday trading.


#7. HDFC Securities

HDFC securities is subsidiary of HDFC bank which is one of the India’s top most bank.

They offer 3-in-1 demat account. That means, all the three accounts, namely, Savings, Trading and Demat account are integrated into a single account.

These type of account offer many advantages. Main being the seamless movement of funds between savings and trading account.

These type of brokers are good for traders who want all their accounts integrated.


#8. Sharekhan

Sharekhan is a premium full service stock broker of India. They do not provide 3-in-1 demat account as they are not backed by any banks.

But they have more number of customers in full service broker category who do not provide 3-in-1 demat account.

They have wide network of branches and sub broker franchises all over India and abroad. They also conduct training and workshops.

All these factors make Sharekhan as one of the best broker for beginners in India.

#9. Axis Direct

Axis Bank is the parent company of Axis Direct. They also offer 3-in-1 demat account.

One can open the account by visiting any of the Axis Bank branches.

They offer service in Equities, Derivatives and Currencies. Recently they also started offering flat fee brokerage structure like discount brokers


#10. Kotak Securities

Kotak Securities is one of the most famous stock broker of India. They are backed by Kotak Mahindra Bank.

They have customer base of more than 12 Lakhs. Kotak Securities has branches and franchise outlets at more than 360 location.

They have two types of plans 1) Dynamic Plan – brokerage slab changes as per the total traded volume. (Higher the traded value, lower is the brokerage slab) 2) Advance Brokerage Plan – Pay prepaid brokerage to avail lower brokerage slab


Best Stock Brokers of India : Conclusion

Without doubt, there is no single Share broker who suit for all types of traders and investor.

For a trader whose main aim is to save on brokerage and indirectly increase the profit, discount stock brokers are best fit.

For someone who need little more than trading experience like portfolio management, relationship manager at the expense higher brokerage charges- full service brokerage firms are ideal.

Top 10 stock brokers of India who are very popular among the traders and investor community are being given in the list.

The best broker ranking provided is not in exact order. Please investigate further and contact the brokers before opening account.

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Best Demat Account in India 2020

A demat account is a pre-requisite if you want to start trading in the stock markets and are planning to hold and buy shares. If you are looking to get a new demat account, you must make a smart choice and choose the best demat account in India offered by brokerage houses, or you might end up paying a high fee and charge to use these accounts. Remember, that different charges are applicable for using and maintaining a demat account in India.

What do you need from your demat account? Well, if you are a beginner and don’t know a whole lot about stock markets, trading and all, but are looking to get in on the good returns that the market has been offering over the past ten years, you will probably be better off taking a demat account from a full service brokerage company over a discount broker.

You will need:

  • Education on the basics of the stock market and trading tips
  • Less charges
  • Help when you need it, and intraday assistance
  • Good trading platforms with ease of use

Major Traditional Demat Account in India

A full service brokerage firm like ICICI securities offers a good three in one account to get you started with trading, including a savings account, demat account and a trading account. Other firms linked to banks like HDFC and Kotak also offer some variation of an all in one account. The main advantage with these types of demat accounts is that they reduce the fuss of money transfer between your trading account and your bank account. Although the brokerage tends to be on the higher side with such firms, the ease of use and the support/educational assistance is great for a beginner wetting their feet in stock market trading.

Major Discount Demat Account in India

Best demat account provider india

If you are a pro, and want to do it your way, search for a discount broker instead. Discount brokers offer you a no frills demat account, and that’s it. They don’t bundle a savings account or the personalised support that you get from a full service brokerage company. As the name suggests, you get their service at a much cheaper cost – But you are mostly on your own. The top discount brokers of India offering great no-frill demat accounts are Zerodha  , Tradesmart online, SAS Online and so on.

The main benefit of using a discount broker for your demat account is that you pay a fixed price on your trades, irrespective of the size – which saves a lot of money for you.

Now to open your demat account, you would need the following documents:

PAN (Permanent Account Number) Card (Mandatory)

Identification Proof

Address Proof

Passport Size Photograph

At the end of the day, remember that there is no such concept as the best stock broker or best demat account in India – it is only the “best demat account that suits your needs or the best stock broker that suits your requirement.” Many stock broking houses offer a variety of products and options that might not be what you are looking for. Read the fine print before taking a decision. It will help you in the long run.

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