Top 10 Stock Brokers in India – Reviews and Feedback

Top Stock Brokers in India

Indian Stock Broking market is a fragmented space filled with numerous Share trading companies. To place itself as one of the Top Stockbrokers in India, each share trading company tries to differentiate itself on multiple metrics such as:

  • Brokerage/commission,
  • Market tips & Research reports
  • Customer base
  • Trading platforms
  • Customer Service
  • Range of Trading Products
  • Exposure
  • Company legacy
  • PAN India offline presence and so on.

Some of the names among top stockbrokers in retail Share trading industry include Angel Broking, ShareKhan, Zerodha, India Infoline etc.

If you are a beginner or a small investor though, you can check out this detailed article on Best Demat Account for Beginners and Small Investors.

From a consumer’s point of view, all they need is growth. The consumer has entered the market to make a profit over his/her investment and that is why the choice of the broker or share trading company is a very crucial decision he/she has to make.

But before making that choice, the consumer must understand few things that can help him/her to make that choice:

Are you a Trader or an Investor?

This question can help you to decide on the basic fundamental of trading.

In share trading world, if you are looking to reap profits in quick time and want results in minutes, hours or days – then you are basically a trader. Thus, you will be making a higher number of transactions on a regular basis. On the other hand, if you are looking to put your money in the market on some trusted stocks and then hold the stocks for a long period (for instance 6 months, 2 years, 10 years etc.), you are an investor.

What a potential trader or investor looks for in a stockbroker?

Once you have made a choice on whether you are a trader or an investor, there are an array of expectations you might have from your stockbroker, such as:

  • Reasonable brokerage charges
  • High-performance trading platforms
  • No or low account opening or annual maintenance charges
  • Array of trading and investment products
  • Decent customer service
  • Wide offline presence through sub-broker and franchise network
  • Accurate market tips and recommendations
  • Initiatives on Trading and Investment education
  • Integrated trading and bank account
  • High exposure or leverage across trading segments
  • Low/no hassles in fund transfers

How to check the credibility of the Share Broking Company?

Don’t get overwhelmed or impressed by the branding or market image created by the share trading company among the consumers. Have a detailed & thorough check before making a choice.

  • Visit SEBI’s website to get an idea on some of the reputed share trading companies.
  • Talk to people who are already trading/investing with a stockbroker and learn from their experience.
  • Look at company’s offerings, their trading platforms, their regular research reports,  brokerage charges, customer support, experience in the industry etc.
  • Do a secondary research on the internet and see what past customers have to say about the company. Be a little cautious here at the same time as some of the comments might be forged.

Best Share Trading Companies in India

Here are few Share Trading companies in India who have shown pretty good performance in the past 2-3 years and are challenging each other across technology, customer service & product innovations.

Top Stock Brokers in India


ShareKhan is ranked 2nd in the Indian stock market industry and has a presence in more than 675 cities in India. They charge in the range of 0.015% to 0.1% depending on the margin money scheme picked by the customer. ShareKhan charges INR 750 as Account opening fees and INR 441 as AMC.

One of the concerns with Sharekhan is its relatively high brokerage charges, which generally is the case with mainstream full-service stock brokers.

Check out the complete review of Sharekhan.


ICICI Direct

ICICI Direct enjoys a good amount of brand equity through its ICICI Banking services. This brand equity helps high scale customer acquisition at low cost. Due to its high brand value, ICICI charges high commission charges for the simple reason of trust factor inhibited among the user base.

It charges in the range of 0.5% for intra-day and 0.75% as commission charges. ICICI opens the Demat account for INR 975 while charges INR 500 as AMC. At the same time, it offers USPs such as 3-in-1 trading account, Classroom programs for learning share market, seamless integration with its trading platforms.

ICICI has a total customer base of 2.6 million with coverage in 87 cities with 200 branches.

It offers Trade Racer for its customer base to trade online. Trade Racer comes with features such as market watch, streaming quotes, advanced charting and quick transaction support.

Check out the complete review of ICICI Direct.


HDFC Securities

HDFC Securities has been around for more than 15 years and has high coverage with more than 200 branches. HDFC also has a desktop as well mobile trading applications. HDFC securities is known well for its research reports and accuracy of information on stock trends, market movements & industry dynamics.

HDFC charges 0.5% as brokerage commission, INR 999 for opening the demat account & INR 550 as AMC.

Check out the complete review of HDFC Securities.


Enrich Commodity

Enrich Commodities was started in 2008 as a unit and became a success with its customer-centric approach, transparent business practices and with hardcore professionalism. It was incorporated in the year 2013, with the backup of a strong marketing and technical team. We established a strong presence in South India and acquired a name of TRUST through Commodity Broking

Account opening will be done within 24 hours after receiving KYC document. (*Online KYC form available in our Website).Welcome Call/Mail once the account is activated.

Why Enrich

If you value competitive trading plans, the safety of your funds and excellent clients services when choosing an online trading partner is the right broker for you. And the many other reasons are :

  • Trading desk support * 24/7.
  • User friendly online trading platform.
  • Brokerage reversal on daily basis for upfront clients.
  • Excellent IT support (Software Installation, Back office & Trading Platform Usage).
  • SMS Alert/Confirmation (Technical calls, Ledger Balance after every executed order, Password reset).
  • Client profile modification support.
  • Grievance support.


India Infoline (or IIFL)

Further, they have been putting a good amount of emphasis in their trading platforms including IIFL Markets, which is their primary trading platform.

Established in the year 1995, IIFL has a wide offline presence through its 4000 sub-broker and franchise branches. IIFL charges 750 for opening a trading account and ₹555 for opening a demat account from its clients. It also charges 300 as annual maintenance charges on a yearly basis.

It also has multiple options when it comes to brokerage plans, IIFL offers various options to its clients who can choose a plan based on their trading segment preferences.

Some of the concerns around IIFL including its okayish customer service and clients cannot invest in mutual funds through IIFL. Other than that, IIFL is definitely one of the decent stock brokers of India.

Check out the complete review of India Infoline here.

Check out the complete review of India Infoline here.



5Paisa is a leading discount stockbroker in India (which used to have the backing of IIFL (India Infoline) until recently when it was set-up as a separate entity and in fact got listed on the stock market) launched a few years back and has a presence in Mumbai.

It offers one of the lowest brokerage charges in India at 10 per executed order. Furthermore, in terms of trading platforms – 5Paisa offers a decent performing mobile app to go along with web-based browser application Trade Station and a terminal software. With backing from IIFL, it definitely adds up the reliability factor as well with 5Paisa.

One of the best parts of opening an account with it is that 5Paisa offers free tips and recommendations on a regular basis to its clients despite being a discount stock broker. No discount stock broker provides that luxury. To open an account with 5Paisa, account opening fees is 250 and AMC (annual maintenance charges) stand at 200.

The first 5 trades with 5Paisa are free and no brokerage is charged. Additionally, if you start with a capital to INR 25,000 or more, then the AMC and account opening charges are also made Free. Check out the 5paisa offer here!

Check out the complete review of 5Paisa here.


Motilal Oswal

Motilal Oswal or MOSL is one of the oldest full-service stock broking houses in the country with its establishment in 1987. They have, majorly been looking at Institutional securities but have recently pivoted towards retail stockbroking as well.

Motilal Oswal also falls in the expensive stockbrokers’ category but what these full-service stockbrokers are doing recently is introducing multiple brokerage plans. With different options, the choice lies with the consumer on how much brokerage charges to pay. MOSL charges 1000 as trading account opening charges and 441 as Demat account annual maintenance charges.

Motilal Oswal has done few innovations in customer service including Motilal Oswal Genie that allows its clients to get answers to few basic queries directly through an automatic bot.

Check out the complete review of Motilal Oswal here.



Zerodha was the first discount broker in India with its establishment as recent as 2010. Like other high volume traders and investors, the CEO of Zerodha, Nitin Kamath faced the same concern of paying out high brokerage charges to the stockbroker.

Even though he’d spend most of his time in setting up his technical and fundamental analysis on stocks, a major chunk of the profits reaped was being taken away by the full-service stockbrokers. With Zerodha, he fixed this concern as Zerodha works on the flat rate brokerage model.

Zerodha, today, is known for its amazing digital initiatives and product innovations, giving them a positioning of a digital-first share trading company in India. Zerodha offers different trading platforms such as Zerodha Kite Web, Kite Mobile, Zerodha Pi, Kite Connect API etc.

They also introduced the concept of making sure the customer learns while trading with their product ‘Zerodha Varsity‘. Varsity is a full-fledged learning web app that guides beginners on the basic fundamentals of investing and trading in share market.

Zerodha has a clear-cut pricing model of 20 per transaction on Intra-day and no charges for equity delivery. Like the way discount broking works, they don’t charge you any other commission percentage irrespective of your transaction volume or size. Zerodha charges 200 while opening the demat account.

Zerodha, however, does not allow you to invest in IPOs and its customer service is one area that still lacks maturity.

Check out the complete review of Zerodha .


Angel Broking

Angel Broking is a well known full-service share trading company and has been in existence for the last 29 years. Established in 1987, Angel Broking has a presence in 1000+ cities in India with more than 8500 sub-brokers.

Angel Broking charges commission in the range of 0.01% to 0.4% depending upon the margin money committed at the start. They open the demat account for free while charging 300 as Annual maintenance charges (AMC).

They have different online trading platforms such as Angel Broking Trade, Angel Broking App and Angel Speed Pro. Angel Broking runs different offers for customers at different times of the year.

Angel Broking has recently been coming out as a quick mover in multiple digital facets and very recently, they came up with a concept of ARQ, an engine that basically predicts the future performance of a stock by going through billions of data points collected over the past 20+ years.

Among other aspects, Angel broking also provides decent market tips, research and recommendations at both technical as well fundamental level.

However, Angel Broking has an average customer service to go along with few concerns about its mobile app usage.

Check out the complete review of Angel Broking.


Trade Smart Online

Although Trade smart online (or TSO) primarily offers NEST and NOW as their trading platforms but they have recently introduced SPIN, a terminal based trading platform suitable for heavy traders. TSO charges ₹200 for both Demat and Trading account separately along with AMC (Annual maintenance charges) of 300.

The only concerns with Trade smart Online include its high transaction charges and you cannot invest in IPOs while using TSO’s services.

Check out the complete review of Trade Smart Online.


Kotak Securities

It has consistently put in its focus towards technology and its trading platforms across devices are few of the highest performing trading platforms in India. To go along with different trading softwares, Kotak securities offers some technical tools as well those help users to perform their analysis.

Kotak Securities charges 750 to open a trading account and levies a maintenance charge of ₹600 which can be paid monthly at the rate of 50. As far as brokerage is concerned, Kotak securities has a range of plans – including fixed percentage brokerage plans (which are generally expensive) as well as plans based on subscription charges. Kotak securities works well for heavy traders that need help in technical and fundamental analysis.

You can check detailed understanding of brokerage plans of Kotak securities here.

All being said, Kotak securities is one of the expensive stock brokers when it comes to the brokerage.

Check out the complete review of Kotak Securities here.