List of Best Brokers in India

What is a Stockbroker?

 Stockbrokers are individuals who buy and sell stocks and other securities for retail and institutional clients, through a stock exchange or over the counter, in return for a fee or a commission.

Many stockbrokers work in a brokerage firm and handle transactions. Brokerage firms and broker-dealer companies are also generally referred to as stockbrokers.

What is the responsibility of Stockbrokers?

A stockbroker is responsible for buying and selling shares/stocks. The brokers require access to major exchanges like BSE and NSE to buy and sell stocks. To trade, the brokers also need to be members of the stock exchanges. They can also belong to the member firm. Individuals who work for these firms are licensed as brokers.

A stockbroker buys stocks from the stock exchanges of the company the client wants to invest in, in quantities as ordered by the client. The shares in the dematerialized form are credited to the broker account, from where it is then transferred to the client’s trading account. SEBI prohibits direct dealing of investors with the exchanges and mandates that everyone goes through authorized brokers.

 Types of stockbrokers

1.Full-service brokers: - provide a personal service to clients and pass on important exclusive information available to full-service clients only. They deliver personalized research and information on investment.

2.Discount brokers: - only follow up orders from their clients. They don’t offer advice, research, or analysis services.

3.Jobbers: -Jobbers are independent brokers who mainly trade in securities. However, they are not licensed to trade in someone else’s name.

4.Arbitrageurs: -This subset of stockbrokers is known to purchase securities from one stock exchange at a lower price and then sell the same at a higher price in a different stock exchange.

1.Shoonya by Finvasia

 

Discount Broker: 1. Equity 2. Commodity   3. Currency   4. Futures   5. Options

Account Opening Charge: Zero

Account Maintenance Charge: Zero

Equity Delivery Brokerage: Zero

Equity Intraday Brokerage: Zero

 

2.Groww  (Rating: 3.1)

Discount Broker: 1. Equity 2. Commodity 3. Currency 4. Futures 5. Options

Account Opening Charge: Free

Account Maintenance Charge: Free

Equity Delivery Brokerage: 0.05%

Equity Intraday Brokerage: 0.05%

   

Pros/ Advantages and Strengths of this broker.	Cons/Disadvantages of this broker that it needs to improve upon.
1.Commission free investment for customers on Mutual Funds.	1.Commodity and Currency trading options are not available on Groww.
2.Opening a trading and Demat account is quick and easy.	2.It doesn't offer analysis, trading advice, or recommendations.
3.Users can also purchase US equities, US ETFs, US FDs, and digital gold.	3.Advanced orders, including GTT, Bracket, Cover orders, and AMO orders, are not accessible.
4.Simple and intuitive user interface.	4.It does not provide research report on stocks.

 

3.Zerodha  (Rating: 3.8)

Discount Broker:1. Equity 2. Commodity 3. Currency 4. Futures 5. Options

Account Opening Charge: ₹ 300

Account Maintenance Charge: ₹ 300

Equity Delivery Brokerage: Zero

Equity Intraday Brokerage: 0.03%

Pros/Advantages and Strengths of this broker.	Cons/Disadvantages of this broker that it needs to improve upon.
1.Zerodha charges a very low trading fee and does not charge anything regarding equity delivery.	1. It allows NRIs, HUF, Companies to open a demat account only through an offline process.
2. You can use the fee calculator on its website to know what to expect while trading through Zerodha.	2. The response from customer support can be delayed and software glitches happen at certain times.
3. You do not need to maintain a minimum amount while opening an account with Zerodha.	3. For every investment instrument, they have a different platform like Kite for shares, Coin for mutual funds, Golden Pi for bonds etc.
4. The deposit and withdrawal process is user-friendly and free of cost.	4. The offline procedure is cumbersome and time consuming (even for individual accounts) due to a lesser number of physical branches.
5. You are not required to pay any platform deposit fee. You can make use of UPI to easily transfer funds to your account.

 

4.Angel One  (Rating: 3.2)

Full-Service Broker: 1. Equity 2. Commodity 3. Currency 4. Futures 5. Options

Account Opening Charge: Free

Account Maintenance Charge: ₹ 240

Equity Delivery Brokerage: Zero

Equity Intraday Brokerage: 0.03%

   

Pros/Advantages and Strengths of this broker.	Cons/Disadvantages of this broker that it needs to improve upon.
1. Provides Full-service brokerage services at low brokerage fees.	1. Trading in SME shares isn’t allowed.
2. Flat brokerage fee of just ₹20 across segments.	2. It does not offer the facility of a 3-in-1 account.
3. Free tips on ARQ, the Robo advisory app.	3. GTC, and GTT facilities are not available.
4. Free advisory tips for mutual funds and equities.	4. The cost of broker-assisted trades (call and trade) is ₹20 per executed transaction.
5.Provides an option to invest in corporate bonds.	5. Reviews show constant cross-selling pressure from Angel One’s RMs to buy other products.

 5.Upstox  (Rating: 3.4)

Discount Broker: 1. Equity 2. Commodity 3. Currency 4. Futures 5. Options

Account Opening Charge: Free

Account Maintenance Charge: Free

Equity Delivery Brokerage: 2.5%

Equity Intraday Brokerage: 0.05%

   

Pros/Advantages and Strengths of this broker.	Cons/Disadvantages of this broker that it needs to improve upon.
1. The early morning newsletter of Upstox is well crafted and provides excellent insights and market recap.	1. It allows NRIs, HUF, Companies to open a demat account only through an offline process.
2. Upstox offers delivery transactions at no cost, has flat trading fees and provides margining against shares held.	2. Customers must be careful while selecting a mutual fund as both direct and regular plans are offered.
3. Availability of knowledge resources, both technical and basic investing.	3. Extra ₹20 per executed order is charged for Intraday square off orders when they are not squared off by the customer.
4. Toggle easily between Trading View and ChartsIQ libraries.

 6.ICICI Direct  (Rating: 3)

Full-Service Broker: 1. Equity 2. Commodity 3. Currency 4. Futures 4. Options

Account Opening Charge: Free

Account Maintenance Charge: ₹ 700

Equity Delivery Brokerage: 0.18%

Equity Intraday Brokerage: 0.018%

   

Pros/Advantages and Strengths of this broker.	Cons/Disadvantages of this broker that it needs to improve upon.
1. A single website to invest online in mutual funds, IPOs, postal savings schemes, and GOI bonds.	1. High brokerage fees across different plans.
2. A reduced bandwidth website for trading from smartphones or slow internet connections.	2. A premium plan is required to get the preferred brokerage rates.
3. Technical analysis and stock tips are provided to customers free of cost.	3. ICICI Direct charges higher brokerage to customers who trade in penny stocks.
4. Convenience of placing multiple orders in Basket Order.	4. The charge is high for call & trade (after the first 20 free calls in a month).
5. A featured platform named Sensible for options trading.	5. No access to free mutual fund investments.

 

7.HDFC Securities  (Rating: 3.1)

Full-Service Broker: 1. Equity 2. Commodity 3. Currency 4. Futures 5. Options

Account Opening Charge: Free

Account Maintenance Charge: Free

Equity Delivery Brokerage 0.15%

Equity Intraday Brokerage: 0.015%

   

Pros/Advantages and Strengths of this broker.	Cons/Disadvantages of this broker that it needs to improve upon.
1. 3-in-1 account facility to manage all financial transactions in one place.	1. HDFC brokerage is quite high but it is negotiable for investors who invest in high volumes.
2. Automated chat support with ARYA smart virtual assistant.	2. It’s terminal based trading platform HDFC blink is a chargeable subscription based platform.
3. Multiple tools and services like HDFC Blink, portfolio analyzers for monitoring services.	3. SMS based tips and research services are paid in nature.
4.Portfolio tracking system to monitor overall investment and trading portfolio.
5. Option to buy Indian as well as US stocks and exchange-traded funds with global investing.

 

8.Kotak Securities  (Rating: 3.1)

Full-Service Broker: 1. Equity 2. Commodity 3. Currency 4. Futures 5. Options

Account Opening Charge: Free

Account Maintenance Charge: ₹ 600

Equity Delivery Brokerage: Zero

Equity Intraday Brokerage: Zero

   

Pros/Advantages and Strengths of this broker.	Cons/Disadvantages of this broker that it needs to improve upon.
1. Kotak Securities provides a wide range of investment options from equity to debt instruments, mutual funds, derivatives etc.	1. Call & Trade charges vary depending on the frequency of investing.
2. Provides daily alerts, market pointers, research reports, stock recommendations, etc. to the customers.	2. In the online process, it supports accounts only with scheduled banks.
3.You can make international investments like investing in US stocks etc.	3. The offline account opening process is time-consuming and cumbersome.
4. NRIs can also open an account with Kotak Securities.	4. It has comparatively higher equity delivery charges.
5. Call and email support is available for solving the customer’s queries.

 9.Motilal Oswal  (Rating: 3.8)

Full-Service Broker: 1. Equity 2. Commodity 3. Currency 4. Futures 5. Options

Account Opening Charge: Free

Account Maintenance Charge: ₹ 199

Equity Delivery Brokerage: 0.20%

Equity Intraday Brokerage: 0.02%

Pros/Advantages and Strengths of this broker.	Cons/Disadvantages of this broker that it needs to improve upon.
1. Free in-depth analysis and stock recommendations to make informed investment decisions.	1. No offers for flat brokerage or discount brokerage plans.
2. Proper customer support via emails and calls to solve queries.	2. Only regular plans are offered in mutual funds.
3. Thorough research reports, market and sector analysis for efficient investing.	3. Offline account opening is a cumbersome and time-consuming process.
4. Strategy builder to enable smart trading and implementing multi-leg option strategies.	4. Relatively higher charges for brokerage charges and depository participant service.
5.An all-in-one platform to invest across multiple asset classes such as equity, derivative, mutual funds etc.

 10.Paytm Money  (Rating: 3.4 )

Discount Broker:1. Equity 2. Commodity 3. Currency 4. Futures 5. Options

Account Opening Charge: Free

Account Maintenance Charge: Free

Equity Delivery Brokerage: ₹ 20

Equity Intraday Brokerage: 0.05%

Pros/Advantages and Strengths of this broker.	Cons/Disadvantages of this broker that it needs to improve upon.
1. The platform has a two-factor authentication system that ensures safety of your details.	1. No branch or customer support.
2. User-friendly interface to quickly analyze the information needed.	2. The broker does not offer an NRI trading account.
3. It has an inhouse brokerage calculator and provides Mutual Fund Investment Advisory services.	3. No commodity and currency trading.
4. Convenient opening and operating a trading account online.	4. No facility of margin against shares.
	5. It only offers direct mutual fund plans.

11.5paisa  (Rating: 3)

Discount Broker:1. Equity 2. Commodity 3. Currency 4. Futures 5. Options

Account Opening Charge: Free

Account Maintenance Charge: ₹ 300

Equity Delivery Brokerage: ₹ 10

Equity Intraday Brokerage: ₹ 10

Pros/Advantages and Strengths of this broker.	Cons/Disadvantages of this broker that it needs to improve upon.
1.5Paisa brokerage plans have something for everyone novice, investor, or professional trader.	1. Customer Service is lagging.
2. All in one account to invest in stocks, mutual funds, commodities, currency, research, and advisory.	2. Higher exchange transaction charges in comparison with other discount brokers.
3. Offers free technical, derivative, and fundamental research with an advanced trading platform for traders.	3. Call & Trade is available at a high additional cost.
4. Free stock research and advisory.	4. 5Paisa does not offer NRI trading services.

 12. IIFL (Rating: 2.8)

Full-Service Broker:1. Equity 2. Commodity3. Currency4. Futures5. Options

Account Opening Charge: Free

Account Maintenance Charge: ₹ 250

Equity Delivery Brokerage: Zero

Equity Intraday Brokerage: ₹ 20

Pros/Advantages and Strengths of this broker.	Cons/Disadvantages of this broker that it needs to improve upon.
1. Free reports on mutual funds recommendations and equity research.	1. IIFL Brokerage charges are higher as compared to other stock broking platforms.
2. Personal fixed deposits are accepted as collateral for margin funding.	2. Free equity delivery but only in the Z20 plan.
3. Dedicated relationship manager to help sort out your queries.	3. Call and mail support has been prompt from normal plans but was delayed for Z20 plans.
4. A well-designed knowledge center focused on investor education.	4. The offline procedure for account opening is time-consuming and cumbersome.
5. Physical branches are present in most of the cities to cater to the customers.

13.Axis Direct  (Rating: 3.3)

Full-Service Broker:1. Equity 2. Commodity 3. Currency 4. Futures 5. Options

Account Opening Charge: ₹ 499

Account Maintenance Charge: ₹ 790

Equity Delivery Brokerage: 0.50%

Equity Intraday Brokerage: 0.05%

Pros/Advantages and Strengths of this broker.	Cons/Disadvantages of this broker that it needs to improve upon.
1. Provision of 3 in 1 account facilities provides users with a smooth and flawless trading experience.	1. Brokerage, account opening cost, and maintenance charges are very high compared to other brokers.
2. Convenient access to multiple market segments and financial instruments at once.	2. Its terminal based trading platform is a chargeable subscription-based platform.
3. Extensive research reports and expert opinions on stocks and investments.	3. Some users have experienced longer wait times and less satisfactory support when seeking assistance from Axis Direct's customer service team
4. Real-time updates on trading terminals and apps.	.
5. Enjoys brand equity and trust because of its banking service provider, AXIS bank.

 

14. Dhan (Rating: 3.7)

Discount Broker:1. Equity 2. Commodity 3. Currency 4. Futures 5. Options

Account Opening Charge: Free

Account Maintenance Charge: Free

Equity Delivery Brokerage: Zero

Equity Intraday Brokerage: 0.03%

Pros/Advantages and Strengths of this broker.	Cons/Disadvantages of this broker that it needs to improve upon.
1.Supported by multiple platforms like Mobile App, Web, and Trading View charting platform.	1. Comparatively high charge of ₹50 on every call and trade placed.
2. No hassle of SPAM calls, messages, and emails.	2. Not adept for new or beginner traders and investors.
3. 24/7 customer care prioritizing all customer grievances.	3. No relationship managers for portfolio management services.
4. 50% discount on brokerage for women's participation.	4. No free research reports, stock tips or weekly recommendations.
	5. No option to invest in mutual funds, insurance and bond and debt.

 15. Choice (Rating: 3.4)

Full-Service Broker: 1. Equity 2. Commodity 3. Currency 4. Futures 5. Options

Account Opening Charge: Free

Account Maintenance Charge: ₹ 200

Equity Delivery Brokerage: 0.20%

Equity Intraday Brokerage: 0.02%

Pros/Advantages and Strengths of this broker.	Cons/Disadvantages of this broker that it needs to improve upon.
1.Dedicated relationship managers for personalized support.	1. Does not offer 3-in-1 account services.
2. Margin trading facilities for better trading.	2. No email support or chat support for query resolution.
3. All technical charts along with advance orders like Bracket, GTC and GTD orders are available.	3. Complex interface of the application.
4. You can trade in all 3 segments Equity, Commodity and Currency through a single application.	4. Cover Orders are not available here.
5. Expert Research advisory along with Free Call and Trade facility and lowest DP charges.	5. Sometimes login issues in their mobile apps are faced by users due to heavy traffic.
6. They provide AI based automated calls through Signal feature.

 16. Nuvama (Rating: 3.1)

Full-Service Broker:1. Equity 2. Commodity 3. Currency 4. Futures 5. Options

Account Opening Charge: Free

Account Maintenance Charge: ₹ 500

Equity Delivery Brokerage: 0.30%

Equity Intraday Brokerage: 0.03%

   

Pros/Advantages and Strengths of this broker.	Cons/Disadvantages of this broker that it needs to improve upon.
1. Free research and trading recommendations.	1. High brokerage charges for delivery, intraday and futures.
2.Expert-written and curated articles for value addition.	2. Call & Trade is available for an additional cost in Lite plan.
3. User-friendly interface for both mobile and desktop.	3. Additional costs for research calls and trading tips.
4. Sound relationship management team via multiple branches and franchises.	4. No GTC (Good till Cancelled) and Bracket orders.
5. Convenience of high leverage across multiple segments.

17.FYERS (Rating: 3.4)

Discount Broker:1. Equity 2. Commodity 3. Currency 4. Futures 5. Options

Account Opening Charge: Free

Account Maintenance Charge: Free

Equity Delivery Brokerage: Zero

Equity Intraday Brokerage: 0.03%

Pros/Advantages and Strengths of this broker.	Cons/Disadvantages of this broker that it needs to improve upon.
1. Fyers provides a single margin account which allows users to use funds from the same pool for various asset classes.	1. Fyers doesn’t have candlestick indicators for trading.
2. Fyers allows traders to place orders, track P&L, support & resistance right and corporate action from the charts.	2. The platform doesn’t provide screeners for investors or traders.
3. The platform provides the largest collection of historical data on stocks. The data goes as far back as 25 years.	3.In options trading, greeks are not shown on the chart itself.
4. Fyers provides a wide selection of time frames for highs and lows of stock prices. The time frames consist of 1 day, 5 days, 1 month, 3 months, 6 months, 1 year and Year to Date.	4. While some competitors have WhatsApp support to assure customers of a callback, Fyers does not provide this feature.

18.m.Stock (Rating: 3.6)

Discount Broker:1. Equity 2. Commodity 3. Currency 4. Futures 5. Options

Account Opening Charge: Free

Account Maintenance Charge: Zero

Equity Delivery Brokerage: Zero

Equity Intraday Brokerage: 0.30%

   

Pros/Advantages and Strengths of this broker.	Cons/Disadvantages of this broker that it needs to improve upon.
1. m.Stock charges zero brokerage across all the investment instruments provided on the platform.	1. m.Stock does not offer analysis, trading advice, recommendations, and research reports on stocks.
2. Zero call and trade charges allow customers that are not too tech-savvy to invest on the platform.	2. No Option to invest in commodities yet.
3. m.stock charges no annual platform charges.	3. Standard AMC of ₹ 120 is charged every quarter if investors do not opt for the ₹ 999 Zero Brokerage plan.
4. Mutual funds provided by m.Stock fall under the Direct Plan. This means that there is no commission charged on mutual fund investments.

19. Alice Blue (Rating: 2.6)

Discount Broker:1. Equity 2. Commodity 3. Currency 4. Futures 5. Options

Account Opening Charge: Free

Account Maintenance Charge: ₹ 400

Equity Delivery Brokerage: Zero

Equity Intraday Brokerage: 0.01%

Pros/Advantages and Strengths of this broker.	Cons/Disadvantages of this broker that it needs to improve upon.
1. Free Equity Delivery brokerage in Freedom (F20) plan.	1. NCD and Corporate bonds are not available.
2. Trading Platform is backed by ANT.	2. Call & Trade are available at an extra ₹20 per executed order.
3. NEST offers a Risk and Order Management System to understand the trading strategy.	3. Presence of many third-party products makes the site cluttered.
4. ANT Trading Software is available for free to all its customers.	4. One cannot expect quality assistance.
5. Offers access to a range of third-party online trading tools & apps.
6. The free daily market report is available to all customers.

 20. Anand Rathi (Rating: 2.5)

Full-Service Broker: 1. Equity 2. Commodity 3. Currency 4. Futures 5. Options

Account Opening Charge: Free

Account Maintenance Charge: ₹ 450

Equity Delivery Brokerage: 0.20%

Equity Intraday Brokerage: 0.02%

Pros/Advantages and Strengths of this broker.	Cons/Disadvantages of this broker that it needs to improve upon.
1. Allows online investment in IPOs, Mutual Funds, Bonds, General Insurance, all from a single website.	1. Brokerage is quite high and non-negotiable.
2. Provides free research, technical reports, and trading calls.	2. They charge extra for their featured products and services.
3. Call & trade is free of cost.	3. They do not provide direct mutual fund plans.
4. Provides loan against shares and corporate FDs as well.	4. Trade Xpro & Trade Lite cannot be accessed by the customers.
5. NRI customers can also open accounts with Anand Rathi.

 21. Espresso Sharekhan (Rating: 2.9)

Discount Broker: 1. Equity 2. Commodity 3. Currency 4. Futures 5. Options

Account Opening Charge: Free

Account Maintenance Charge: ₹ 400

Equity Delivery Brokerage: Zero

Equity Intraday Brokerage: 0.03%

Pros/Advantages and Strengths of this broker.	Cons/Disadvantages of this broker that it needs to improve upon.
1. The Pay Only When You Profit feature helps the user significantly reduce their expenses.	1. The broker does not provide any products related to banking, insurance, and forex trading.
2. It is a subsidiary of Share khan, which is one of the largest brokers in the country.	2. Espresso does not provide 24*7 query support.
3. Espresso provides educational information to its users in the form of articles, courses, and movies.	3. The broker does not offer a 3 in 1 account as they do not provide banking services.
4. Call and trade facilities are free.
5. Fixed deposits can be used as collateral for futures and options trading.

 22. Shoonya (Rating: 3.8)

Discount Broker:1. Equity 2. Commodity 3. Currency 4. Futures 5. Options

Account Opening Charge: Zero

Account Maintenance Charge: Zero

Equity Delivery Brokerage: Zero

Equity Intraday Brokerage: Zero

Pros/Advantages and Strengths of this broker.	Cons/Disadvantages of this broker that it needs to improve upon.
1. Shoonya provides commission-free trading on all segments and all exchanges.	1. Shoonya does not offers 3-in-one account.
2. No hidden charges or fees.	2. Although there is no brokerage fee, and there aren't any software charges, you still have to pay for depository charges, taxes, etc.
3. Shoonya provides user-friendly trading platform.	3. Shoonya does not provide margin funding.
4. Free demat and trading account opening.	4. Shoonya is an online broker. It doesn't have branches for local support.
5. Zero charges on call and trade services.
6. Access customer service via phone, email, live chat, and the option to create a support ticket.

 23. Samco (Rating: 2.8)

Discount Broker: 1. Equity 2. Commodity 3. Currency 4. Futures 5. Options

Account Opening Charge: Free

Account Maintenance Charge: ₹ 400

Equity Delivery Brokerage: 0.5%

Equity Intraday Brokerage: 0.05%

Pros/Advantages and Strengths of this broker.	Cons/Disadvantages of this broker that it needs to improve upon.
1. Customers can pledge shares in their Demat account for extra margin.	1. They provide only Regular plans on Mutual Fund investment.
2. Market insights, recommendations and more by an expert equity research team.	2. Charges are high on Pledge/Closure/Invocation Demat.
3. Caution Watchlist to ease picking the right stocks.	3. They charge an extra fee for call & trade.
4. 100% brokerage cashback on all orders in the first month.	4. NRI trading account facility is not available.
	5. Free delivery on brokerage is not available.

 

24. Bajaj Finserv (Rating: 2.9)

Discount Broker:1. Equity 2. Commodity 3. Currency 4. Futures 5. Options

Account Opening Charge: ₹ 431

Account Maintenance Charge: Free

Equity Delivery Brokerage: 0.10%

Equity Intraday Brokerage: ₹ 17

   

Pros/Advantages and Strengths of this broker.	Cons/Disadvantages of this broker that it needs to improve upon.
1. Single platform for all investment instruments.	1. Offers only regular plans for Mutual Fund investments.
2. Minimal brokerage on equity intraday and delivery (For the subscribers of Professional pack).	2. Does not offer free equity delivery.
3. Provides real-time stock market news and updates.	3. Only equity segment trading is available.
4. Allows investment in IPOs.	4. Does not offer research reports & trading calls.
5. Provides loan against securities.

25. Trade Smart Online (Rating: 2.8)

Discount Broker:1. Equity 2. Commodity 3. Currency 4. Futures: 5. Options

Account Opening Charge: Free

Account Maintenance Charge: ₹ 300

Equity Delivery Brokerage: 0.07%

Equity Intraday Brokerage: 0.007%

Pros/Advantages and Strengths of this broker.	Cons/Disadvantages of this broker that it needs to improve upon.
1. The company provides 2 brokerage plans which can suit every trading strategy.	1. They charge extra additionally for Call & Trade.
2. They provide flexibility to switch over from one brokerage plan to another, depending upon their strategy.	2. Intraday positions (MIS, CO & BO), if squared off by the RMS team, is charged extra.
3. Transaction charges (turnover charges, clearing charges, etc.) are one of the lowest in the industry.	3. Doesn't provide portfolio management services, tips, or research reports.
4. No account opening charges.	4. One cannot apply for an IPO.
5. Provides Margin against Shares (MAS)

26. Stoxkart (Rating: 2.9)

Discount Broker: 1. Equity 2. Commodity 3. Currency 4. Futures 5. Options

Account Opening Charge: ₹ 500

Account Maintenance Charge: ₹ 300

Equity Delivery Brokerage: Zero

Equity Intraday Brokerage: ₹ 15

Pros/Advantages and Strengths of this broker.	Cons/Disadvantages of this broker that it needs to improve upon.
1. The brokerage charges are comparatively less & the most attractive part is that one needs to pay it only when they earn profit in their intraday position.	1.Call & trade facility is available at extra costs.
2. Provides free stock recommendations.	2. A relatively heavy app in terms of internet usage.
3. Real-time data for different indices are available.	3. Does not offer direct mutual funds, provides only regular plans.
4. The support team is available for customers to help them with trade-related queries.	4. For all extra feature customers need to pay an amount (even for margin plan).
	5. ODIN software is provided at additional cost.
	6. Their software & interface is quite basic with no extra features.

 

Frequently Asked Questions

Who are the stock Brokers?

As the name itself suggests, these are brokers who deal in stocks (along with commodities, currency, equity etc.). So, stockbrokers are the middlemen that buy or sell securities on investors’ behalf at the exchange(s). They provide trading platforms to the investors where the transactions can be executed and tracked. In simple words, stockbrokers are those without whom you cannot open your demat account. And, without a demat account, you cannot invest or trade. So, stockbrokers are an important part to start your investing journey.

What does a stock broker do?

Whenever you hear the term ‘broker’ you would think about a middleman or an agent that makes two parties meet for a deal. A stockbroker, in the same way, is a middleman between the listed companies and the investor (or trader). A stockbroker is the only medium through which your demat account is opened i.e. you need to compulsorily register with a broker for opening your demat account. The broker also provides you with a platform for trading and investing. Your broker is authorized to buy and sell securities on your behalf at the exchanges.

Basically, a stockbroker would provide you services in exchange of brokerage or annual fee or commission.

Who are the top 10 stocks brokers in India?

You would find many articles on the web that claim to inform about the list of top 10 stockbrokers in India. But here the important point is what are the aspects or criteria based on which the list has been prepared. Usually, a beginner would be excited to know about the top 10 stockbrokers in India and would try searching the web for the same. But there are various criteria based on which a stock broker should be evaluated like – type of broker (discount or full-service), quality of services, customer support, the interface of trading platform etc.

How to find the best stockbroker in India?

First of all, you need to ensure whether you are looking for the best stock broker in India in the sense that which is the one that people admire the most, or, the one which would be the best for you. So first, you need to decide whether you prefer trading or investing (traders place orders quite frequently to book short-term gains while investors stay invested for longer durations to book long-term gains). Then, based on your frequency and other requirements (such as the need of a Relationship Manager, educational content etc.) you can list down the brokers and choose the best one for yourself. To cut-short this process, you can visit Select and choose the perfect broker for yourself by viewing and comparing the brokers and their features.

Which is the cheapest stockbroker in India?

It’s understandable that you may be interested in saving on the brokerage and other charges while investing (or trading). Firstly, there are numerous types of charges that a broker charges. Lower brokerage charges are usually preferred by the traders while selecting a broker. On the other hand, investors prefer free equity delivery. So, the cheapest stock broker for you would be the one that provides all the services you need at the lowest prices. One thing that you need to be cautious about is the broker that you may perceive to be the cheapest, may not be the perfect one for you. So, you need to choose wisely.

Which is the best trading app in India?

All the brokers listed on Select offer mobile applications for trading. In order to choose the best trading app for yourself, you need to compare the apps based on their interface and performance reviews. Also, based on the segments you trade-in (as in commodities, F&O etc.) you can choose whether you need more advanced features in the application or just the one that’s easy to navigate. The definition of ‘Best’ here will vary according to your needs and therefore, you need to be sure of what you need and choose the trading app accordingly. Select helps you with the comparison of the features offered by various apps and helps you make a better choice.

What happen If the stock broker goes bust?

Firstly, we wish that never happens with your broker. But, practically speaking you should be prepared for any such circumstance. You should be aware of certain conditions in case your stock broker fails:- There is a settlement period of T+2 days in case of shares. This means that shares that you purchase will reflect in your demat account after 2 business days.- Now, if the shares are already there in your demat account, you don’t need to worry because you can transfer your account to another broker (there’s a separate procedure for this that takes some time) with your holdings intact.- But, if your transaction is still in the settlement period and the broker goes bust, you will lose your shares (or, it’s a rare case that they may be recovered).

- If you received leverage or margin by pledging your shares, then also you will lose them.

- Your wallet should not contain extra funds or balance because that balance is also lost if the broker fails.

Being aware and informed will help you at least minimize the loss if not curtail it completely.

 

Can stock broker be trusted?

The brokers listed on Select have been carefully chosen based on their reputation and reviews. So, the ones you see and compare on this site can surely be trusted. Besides this, the stock  brokers in India are registered with a depository (either CDSL or NSDL) and SEBI proactively monitors the activities of brokers.  So, the brokers can be trusted in general, but it is always better to go through their Broker reviews before investing with them.

Another way of looking at it is that you should never trust a broker blindly i.e. thorough research should be done before choosing a broker. Select will therefore make your job much easier by assisting you in comparing the brokers on various criteria. And, the one you choose after all this will most probably be the most trustworthy broker you can think of.

Is my money is safe in a brokerage account?

In normal circumstances, yes, the money is safe. However, if the broker fails all of a sudden and if you had added extra balance/funds to your broker’s wallet or account, then you may lose those funds. These funds may be recovered afterwards but that’s a rare scenario. So, instead of keeping extra funds with your broker and forgetting about it, you should avoid doing it and stay alert. SEBI is also there to monitor the brokerage firm’s activities and caveat you in case it finds something suspicious but being aware by yourself always helps.

Can a person have more than one trading account with a broker?

 First of all, keeping a lesser number of accounts is beneficial as it would avoid unwanted confusion. But, if you require multiple accounts, here’s what you should be aware of. Your demat account is linked to your PAN number and therefore, with one broker you can have only one account (at an individual level). However, you have multiple joint accounts with the same broker. You can also have multiple demat accounts with different stock brokers.

List down discount broker who are providing market summary and tips.

The stock market fluctuates quite frequently, and the movement of the indices decides the course of the market. At the end of the day (when the market closes) a summary is issued by certain broker companies that highlight the key trends (industry-specific and company-specific) which is referred to as the market summary. On the other hand, trading calls and tips are crucial for the traders for placing orders in order to take advantage of price movement and are required during market hours.  Most of the discount brokers do not provide trading or investing tips. However, most of them do provide a market summary.

Which broker has the best trading platform in India?

Trading platforms provide useful insights to the traders with respect to their performance and help them in decision making as well by aiding them in research and analysis. Most of the brokerage firms that are trader-friendly provide advanced trading platforms. Some of them are cluttered with features and information, while some of them are neat and organized. Some offer terminal experience while others don’t, and in that too, some provide it for free while others charge for it. Best trading platform for you would be the one that suits your requirements. To choose the appropriate stockbroker for yourself based on their trading platforms to visit this page.

Which is the best share broker in India?

The best stockbroker in India for you would be the one that suits your needs. Some of them are trader-friendly while some of them are investor-friendly. There are numerous features based on which the brokers can be compared such as plans offered, brokerage charges, customer support and other services. A random ranking of stockbrokers won’t help you. You should carefully choose the broker for yourself by comparing the stockbrokers based on various criteria. And before that, you should be aware of what you really want from your broker. Select helps you with this by first registering your requirements and then providing you with appropriate suggestions.

 

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