Top 10 Stock Brokers in India 2026: Find the Best Stock Broker in India

Best stock Broker in India 2026: Are you ready to dive into the bouncy Indian stock market, but are uncertain which broker to trust with your investment? With thousands of Sebi-regulated brokers, selecting the best stock broker in India can make it feel heavy, especially with different fees, platforms and services. This broad guide exposes the top 10 stock brokers in India for 2026, which helps in making an informed option for your investment trip, based on active customers, features and reliability.

The Indian stock market is concluding, ranking of retail investor participation globally as the fifth largest world level. By 2026, more than 4,800 SEBI-regulated brokers work in India, but only a few are dominated with innovative platforms, low fees and strong services. Whether you are an early or experienced businessman, selecting the largest stock broker in India or is important for a success to suit your needs. This article examines the top share brokers, their offerings and important factors for considering, ensuring that you align with a broker that matches your financial goals.

Top 10 Largest Stock Brokers in India by Active Clients in 2026

Here’s a detailed look at the top 10 stock brokers in India based on active clients, as of Jan 2026, compiled from reliable sources like NSE, BSE, and SEBI data.

The following ranking is based on active client data as reported by the National Stock Exchange (NSE), Bombay Stock Exchange (BSE), and Securities and Exchange Board of India (SEBI) data.

Detailed Review of the Best Stock Brokers in India 2026

1. Groww

Overview: Groww has rapidly climbed up rapidly by rapidly active customers to become the largest stock broker in India, roughly on its user -friendly interfaces and focus on simplifying investment for beginners. It provides a simple experience for direct mutual fund investment and stock trading.

Products Offering: Equity (Delivery, Intraday, F&O), Direct Mutual Funds, US Stocks, Digital Gold, Corporate FDs

Applications: Groww (Mobile App), Groww (Website). Both platforms are designed for ease of use, offering a clean interface for trading and portfolio management.

Features:

• Simple pricing model.
• Zero account opening fee.
• Zero demet AMC fee.
• Instant paperless account opening.
• Online IPO application.
• Free materials and videos for beginners on the stock market.
• Line and candlestick chart for technical analysis

 Service Offered: Online trading and investment, direct mutual fund investments, US stock investing. No call & trade services.

Groww Charges: Comprehensive breakdown of Groww’s charges for Stocks, F&O, and Mutual Funds.

1. Account Opening & Maintenance

Groww continues to offer a “Zero Fixed Cost” entry model to attract long-term investors.

2. Equity Trading Charges (Stocks)

Brokerage is calculated as the lower of a flat fee or a percentage.

Note: If the calculated brokerage is very low, a minimum of ₹5 (or 2.5% of trade value, whichever is lower) is typically applied.

3. Futures & Options (F&O)

F&O charges are generally fixed per executed order, regardless of the lot size.

4. Depository Participant (DP) Charges

DP charges are collected only when you sell shares from your Demat account (Delivery). This is not charged for Intraday or Buying.

5. Mutual Funds

Groww is widely known for its Direct mutual fund platform.

6. Other Important Fees

Summary of Groww Charges

• Equity Delivery: Rs 20 per executed order or 0.05% (whichever is lower).
• Equity Intraday: Rs 20 per executed order or 0.05% (whichever is lower).
• Equity F&O: Rs 20 per executed order.
• Mutual Funds: Free.
• Account Opening Fee: Free.
• Demat AMC: Free.
• Auto Square-off charges: Rs 50.

Pros & Cons:

• Pros: User friendly platform, low brokerage, zero AMC and account opening fee, direct mutual funds.
• Cons: No commodity or currency trading, limited advanced order type, no NRI trading, no branch support.

Ratings & Reviews: 4.5/5 (highly rated for ease of use)

Website: https://groww.in

2. Zerodha

Overview: Zerodha is often considered a leader of disconnection in India and is continuously ranked as a top stock broker in India. Known for its low brokerage fees and advanced business platforms, it appeals to both active traders and long -term investors.

Products Offering: Equity (delay, intraday, F&O), commodity, currency, direct mutual funds, IPOs, bonds, government securities.

Applications:

• Zerodha Kite: A sharp and powerful web and mobile trading platform, popular for your charting equipment and user interfaces.
• Coins by Zarodha: A platform dedicated to direct mutual fund investment.
• Zerodha Varsity: An excellent educational platform for learning about stock market and investment.
• Senibul: Option Trading Platform (Integrated)
• Streak: Different Trading Platform (Integrated)

• Features:
• Zero brokering for equity distribution and direct mutual funds.
• Flat Rs 20 per trade for intraday, F&O, commodity and currency.
• Advanced charting and analytical tools on kites.
• Comprehensive educational resources through the Zerodha varsity.
• API access for algorithmic trading. Emphasis on technology and user experience.

 Service Offered: Online trading, direct mutual funds, educational content, robust customer support (zerodha support is often praised).

Charges:

• Equity Delivery: Rs 0 (Free).
• Equity Intraday: Flat Rs 20 or 0.03% (whichever is lower) per executed order.
• Equity F&O: Flat Rs 20 per executed order.
• Mutual Funds: Flat Rs 20 or 0.03% (whichever is lower) per executed order.
• Account Opening Fee: Rs 0 (Free Unlimited Direct MF).
• Demat AMC: Rs 200 (Equity & F&O), Rs 300 (Equity, F&O, Commodity).
• Auto Square-off charges: Rs 300 per year.

Pros & Cons:

• Pros: Low brokerage, excellent trading platform (Zerodha Kite) educational resources (varsity Zerodha) strong community, wide range of products.
• Cons: No physical branches, call and trade charges (Rs 50 per order) No 3-in-1 account.

Ratings & Reviews:

Website: https://zerodha.com

3. Angel One Limited

Overview: Angel One (formerly Angel Broking) has transitioned from a full-service broker to a discount brokerage model, offering competitive pricing with few advisory services. It is a popular choice due to its wide reach and technology adoption.

Products Offering: Equity (Delivery, Intraday, F&O) Commodities, Currency, Mutual Funds, IPOs, Bonds.

Applications: Angel One App, Angel One Web, Angel One Trade (Desktop)

Features:

• Flat Rs 20 per executed order in all segments.
• Brokerage-Free Trading (Profit up to Rs 500) Research Report and recommendations for the first 30 days.
• Smart API for developers.
• Margin Trading Facility (MTF)

 Service Offered: Online trading, research and advisory, Portfolio Management Services (PMS) Financial Planning.

Charges:

• Equity Delivery: 0.1% or Rs.20, whichever is lower.
• Equity Intraday: 0.03% or Rs.20, whichever is lower.
• Equity F&O, Commodity, Currency: Flat Rs 20 per executed order.
• Account Opening Fee: Free of charge.
• Demat AMC: Rs 240 PA (waived for first year)
• Auto Square-off charges: Rs 20 per order.

Pros & Cons:

• Pros: Competitive flat brokerage, research and advisory services, extensive branch network, free account opening.
• Cons: Delivery trading is not completely free, some advanced tools (such as ARQ Prime) at an additional fee.

Ratings & Reviews:

Website: https://www.angelone.in

4. Upstox Securities Private Limited

Overview: Upstox is a leading discount broker backed by Ratan Tata, known for its advanced trading tools and low brokerage. It is a strong competitor to Zerodha for tech-savvy traders.

Products Offering: Equity (Delivery, Intraday, F & O) Commodities, Currency, Mutual Funds, IPOs, Digital Gold.

Applications: Upstox Pro Web, Upstox Pro App.

Features:

• Flat Rs 20 per order brokerage.
• Zero brokerage for direct mutual funds and digital gold.
• Advanced charting and analytical tools.
• Option chain for derivative trading.
• Learning center for beginners.

 Service Offered: Online trading, investment in various asset classes, educational materials.

Charges:

• Equity Delivery: Flat Rs 20 per executed order.
• Equity Intraday: 0.10% or Rs.20, whichever is lower.
• Equity F&O: Flat Rs 20 per executed order.
• Mutual Funds: Free of charge
• Account Opening Fee: Free (promotional offers vary)
• Demat AMC: Rs 300 per annum (free of cost for the first year)
• Auto Square-off charges: Rs 75 + GST per order.

Pros & Cons:

• Pros: Low brokerage, easy-to-use platform, hassle-free account opening, diverse investment options.
• Cons: High call and trade fees. Some users report occasional glitches in the app.

Ratings & Reviews:

Website: https://upstox.com

5. ICICI Securities Limited (ICICI direct)

Overview: ICICI Direct is a full-service broker of the ICICI Group, offering 3-in-1 accounts (savings, trading and demat). It offers a wide range of services, including research and consulting, which attracts investors who prefer broad support.

Products Offering: Equity (Delivery, Intraday, F&O) Mutual Funds, IPOs, Bonds, ETFs, Currency, Loans against Shares, Insurance, Fixed Deposits.

Applications: ICICI Direct Market App, Trade Racer (Desktop trading software) ICICIdirect.com (web platform)

Features:

• Integrated 3-in-1 account for seamless transactions.
• Comprehensive research and advisory reports (fundamental and technical)
• Large branch network.
• Access to various financial products.

 Service Offered: Full-service brokerage, investment advisor, portfolio management, wealth management, financial planning.

Charges:

• Equity Delivery: 0.55% of turnover (may vary according to plans).
• Equity Intraday: 0.03% – 0.05%.
• Equity F&O: 0.03% – 0.05%.
• Mutual Funds: Rs 35 to Rs 95 per lot.
• Account Opening Fee: Free of charge (promotional offers may apply)
• Demat AMC: Rs.500 for Demat, Rs.975 for Trading Account

Pros & Cons:

• Pros: Pros: 3-in-1 account, extensive research, wide range of products, strong brand trust.
• Cons: High brokerage fees, platforms can feel outdated compared to discount brokers, no live chat support.

Ratings & Reviews:

Website: https://www.icicidirect.com

6. HDFC Securities Limited

Overview: HDFC Securities, which is part of the HDFC Group, is another leading full-service broker that offers a 3-in-1 account. It is known for its reliability and comprehensive services, especially preferred by those who bank with HDFC.

Products Offering: Equity (Delivery, Intraday, F & O) Mutual Funds, IPOs, ETFs, Bonds, Currencies, Gold.

Applications: HDFC Securities Mobile App, Blink (web platform) HDFC Securities Desktop Trader.

Features:

• Integrated 3-in-1 Account (HDFC Bank Savings, Trading, Demat)
• Research and Analysis Report.
• Dedicated relationship manager for H.N.I. clients.
• Investing in various financial instruments from one platform.

 Service Offered: Full-service brokerage, investment advisor, portfolio management, financial planning, online and offline support.

Charges:

• Equity Delivery: 0.50% (Resident Indian) 0.75% (NRI)
• Equity Intraday: 0.10%
• Equity Futures: 0.05%.
• Equity Options: Higher of 1% of premium or Rs 100 per lot.
• Account Opening Fee: Variable, often free with promotions
• Demat AMC: May vary, usually Rs 750 (for trading and demat)

Pros & Cons:

• Pros: Convenient 3-in-1 account for HDFC Bank customers, good for beginners looking for trusted brands, guidance, extensive research.
• Cons: High brokerage, no commodity trading, high minimum brokerage fees, demat account is limited to HDFC Bank DP.

Ratings & Reviews:

Website: https://www.hdfcbank.com

7. Kotak Securities Limited

Overview: Kotak Securities is a leading full-service broker of Kotak Mahindra Bank, offering a range of brokerage schemes, including commission-free trading for intraday. It focuses on providing technology-driven business experience.

Products Offering: Equity (Delivery, Intraday, F&O) Commodities, Currency, Mutual Funds, IPOs, Bonds, ETFs.

Applications: Kotak NEO App, Kotak Securities Website, Kotak Stock Trader App (Old)

Features:

• “Trade Free” scheme with zero brokerage on intraday trades.
• “Trade Free Youth” scheme with zero brokerage across all segments for 2 years for users below 30 years of age.
• Advanced trading platform with clean UI.
• Research and advisory services.
• Margin Trading Facility (MTF)

 Service Offered: Full-service brokerage, investment advisory, wealth management.

Charges: There are different plans.

• Trade Free Plan (Intraday): Rs 0.
• Trade Free Plan (Delivery): 0.20%
• F&O (Carry Forward): Flat Rs 20 per order.
• Trade Free Youth Plan: Rs 0 across segments (for 2 years, with subscription fee).
• Account Opening Fee: Free
• Demat AMC: Rs 600 PA
• Auto Square-off charges:

Pros & Cons:

• Pros: Professional: Zero brokerage on intraday with few plans, technology-first approach, diversified product offerings, strong research.
• Cons: The Trade-Free Youth Plan is age-limited and time-limited, high brokerage in dealer-assisted plans.

Ratings & Reviews:

Website: https://www.kotaksecurities.com

8. Motilal Oswal Financial Services Limited

Overview: Motilal Oswal is a well-established full-service broker known for its extensive research capabilities, personal advisory services and a wide range of products.

Products Offering: Equity (Delivery, Intraday, F & O) Commodities, Currency, Mutual Funds, IPOs, Bonds, Portfolio Management Services (PMS) Wealth Management.

Applications: MO Investor App, MO Trader App, MO Web, Desktop Trading Platform.

Features:

• Lifetime free intraday trading.
• Comprehensive research report, including fundamental and technical analysis.
• A dedicated financial advisor.
• Proprietary trading tools and algorithms.
• Margin funding facilities.

 Service Offered: Full-service brokerage, investment advisor, wealth management, research, portfolio management.

Charges:

• Equity Delivery: 0.20%.
• Equity Intraday: Lifetime free
• Equity Futures: 0.02%
• Equity Options: Rs 20 per lot.
• Mutual Funds:
• Account Opening Fee: Free of charge
• Demat AMC: Free for the first year, then Rs 299 (may vary)
• Auto Square-off charges:

Pros & Cons:

• Pros: Professionals: Strong research, personalized advice, free intraday trading, wide range of financial services.
• Cons: Some customer service complaints about high brokerage and option (per lot) hidden fees and responsiveness to delivery.

Ratings & Reviews:

Website: https://www.motilaloswal.com

9. SBICAP Securities Limited (SBI Securities)

Overview: SBICAP Securities is a subsidiary of State Bank of India, providing integrated banking and broking services. This is a popular option for SBI account holders who want a convenient 3-in-1 account.

Products Offering: Equity (Delivery, Intraday, F & O) Mutual Funds, IPOs, Bonds, ETFs.

Applications: SBI Securities mobile app, web platform.

Features:

• 3-in-1 account facility (SBI Bank Account, Trading, Demat) Research and recommendations.
• Access to various SBI Group products.
• E-margin facility.

 Service Offered: Full-service brokerage, investment advisor, online trading, mutual fund investment.

Charges:

• Equity Delivery: 0.50% (Variable, may be reduced with specific plans)
• Equity Intraday: 0.07% or Rs.20 (whichever is lower)
• Equity F&O: Rs 75 per lot (options) 0.05% (futures)
• Mutual Funds:
• Account Opening Fee: Free of charge (often with promotions)
• Demat AMC: Rs 750 (variable, may be less)
• Auto Square-off charges:

Pros & Cons:

• Pros: The trust of the SBI brand, the 3-in-1 account facility for SBI customers, is good for long-term investors.
• Cons: High brokerage fees compared to discount brokers, apps can be clunky, customer service issues were reported.

Ratings & Reviews:

Website: https://www.sbisecurities.in

10. Paytm Money Limited

Overview: Paytm Money is a relatively new entrant in the stockbroking space, focusing on a mobile-first approach and a simple experience for retail investors. It aims to make investments accessible to a wider audience.

Products Offering: Equity (Delivery, Intraday, F & O) Direct Mutual Funds, IPOs, NPS, Digital Gold.

Applications: Paytm Money App, Paytm Money Web.

Features:

• Zero account opening charges and zero demat AMC.
• Free direct mutual fund investment.
• Low flat brokerage for equities and F & O.
• Open a fully digital account.
• User friendly interface.

 Service Offered: Online trading and investment, direct mutual funds, educational materials.

Charges:

• Equity Delivery: 2.5% or Rs.20 (whichever is lower)
• Equity Intraday: 0.05% or Rs.20
• Equity F&O: Flat Rs.20 per executed order.
• Mutual Funds: Free of charge.
• Account Opening Fee: Free of charge.
• Demat AMC: Free of charge.
• Call and Trade Fee: Rs 100 per order + GST.

Pros & Cons:

• Pros: Zero account opening and AMC, The free direct MF, User-friendly mobile app, competitive flat brokerage.
• Cons: No commodity or currency trading, delivery trading is not free, high call and trade fees, no 3-in-1 account.

Ratings & Reviews:

Website: https://www.paytmmoney.com

Other Notable Stock Brokers in India:

While the top 10 are based on active clients, many other brokers offer excellent services and can be a good fit depending on your needs.

IndMoney

Known for its comprehensive financial tracking and wealth management facilities, including US stocks and mutual funds, with competitive brokerages for Indian equities. Offers zero account opening and AMC.

Mirae Asset Sharekhan

A full-service broker with a strong research team and a wide network of branches, providing personalized advice.

M. Stock

Offers a unique “zero brokerage for life” plan with a one-time fee, providing competitive pricing across all segments.

IIFL Securities

A well-established full-service broker offering a range of investment products and advisory services.

5 Paise

A discount broker known for its low-flat brokerage and multiple brokerage schemes, including research and advisory services in high-end schemes.

How do you choose the best stock broker in India?

Choosing the best stockbroker in India depends on your trading goals and preferences. Below are some of the key factors to consider:

Brokerage Fees: Opt for transparent, low-fee brokers, such as Zerodha Brokerage (₹20 / order) or Upstox (₹0 delivery)
Trading Platform: Choose a broker with a reliable platform, such as Zerodha Kite or the Angel One app, which provides advanced charting and real-time data.
Product Offerings: Make sure the broker supports your favorite investments (stocks, F & O, mutual funds, IPOs).
Research and Advisory: Full-service brokers like Motilal Oswal excel in research, while discount brokers like Zerodha University offer free education.
Customer Support: Check for responsive support, such as Zerodha support through ticketing or ICICI Direct’s 24/5 support.
SEBI Registration: Always choose SEBI-registered brokers for safety and compliance.
User Reviews: Forums such as InvestOrgain provide broker comparisons and reviews to guide your choice.

Why choose a SEBI-registered broker?

All top brokers in India, such as Zerodha, Upstox and ICICI Direct, are SEBI-registered brokers, ensuring compliance with regulations and the safety of your money. Your stocks are held by a depository like CDSL or NSDL, not a broker, so even if a broker goes bust, your investment is safe. Always verify the SEBI registration of the broker on the official website of SEBI.

What are the different types of stock brokers in India?

Understanding the types of stock brokers in India is essential to choose the best stock broker in India for your investment style.

1. Full-Service Brokers:

These brokers provide a broad set of services, including: Investment Advice: Personal recommendations based on your financial goals and risk-taking ability.

Investment Advice: Personal recommendations based on your financial goals and risk-taking ability.

Research Reports: In-depth analysis of companies, industries and market trends.

Portfolio Management Services (PMS): Professional management of your investment portfolio.

Offline Support: Branch offices, dedicated relationship managers, and call and trade facilities.

Products: : Generally offer a wide range of products such as equities, F & O, mutual funds, IPOs, bonds, commodities, currencies, insurance and more.

Examples: ICICI Direct, HDFC Securities, Motilal Oswal, Kotak Securities, Sharekhan, IIFL Securities, SBICAP Securities.

Pros: Extensive support, personal advice, extensive research.

Cons: Typically high brokerage fees and annual maintenance fees.

2. Discount Brokers:

These brokers mainly focus on providing low-cost trade execution services.

Limited Services: They provide minimal or no investment advice and research reports.

Online Platforms: Their services are mainly online through web and mobile applications.

Low Brokerage: : They typically charge a flat fee or a very low percentage per trade, which often makes them cost-effective for traders.

Examples: Zerodha, Groww, Upstox, Paytm Money, 5 paise.

Pros: Very low brokerage fees, technologically advanced platform, suitable for self-directed investors

Cons: Low personal support, limited research, may not be ideal for beginners who need to hold hands.

3. Bank-Led Brokers:

These are often full-service brokers associated with the bank, offering the convenience of a 3-in-1 account (savings, trading and demat account). It allows seamless fund transfer.

Limited Services: Primarily focused on banking clients; may not offer advanced trading features or tools for active traders.

Online Platforms: Usually integrated with net banking; platforms may be less feature-rich compared to discount brokers.

Low Brokerage: Generally not the lowest; brokerage is often higher than discount brokers but can offer bundled deals for premium clients.

Examples: ICICI Direct, HDFC Securities, Kotak Securities, SBI Securities.

Pros: Integrated banking and broking, featuring trusted brand names.

Cons: There are often higher fees than independent brokers.

Brokerage Charges Table (Indicative)

Frequently Asked Questions about Best stock Broker in India 2026