Top 30 Share Brokers in India with Highest number of Active Clients

Top Stock Brokers in India

*Data is updated as per November 30, 2017

Every share broker in India spends a huge marketing budget not only to gain new clients every month but also a lot of it goes into making sure they retain their existing clients as well. In our experience, we have seen top stock broking companies doing every effort possible to make sure they keep their client base active and not let them switch to some other competition stockbroker.

Here we have compiled the list of all the top 30 share brokers registered with the National Stock Exchange of India in terms of their active client base. To define an “active” client, it basically means a client who has done at least 1 transaction in a financial year. And yes, share brokers with Banking parents such as HDFC Securities or ICICI Direct get a lot of leverage from their banking services with the brand equity and trust built over the years.

We have intentionally not included any data from Bombay stock exchange or any other state-level exchanges to keep the data structured and unambiguous for NSE. We will be coming up with new articles for other exchanges.

Here is the list of Top 30 Brokers with Active Client Base in India:

Ranking Share Broker Number Of Active Client Monthly Growth
1 ICICI Direct 560438
2 HDFC Securities Limited 408059
3 Sharekhan 335843
4 Enrich Commodities 246945
5 Axis Securities 184325
6 AngelBroking 170808
7 Motilal Oswal 165844
8 India Infoline (IIFL) 262930
9 Karvy Stock Broking 166923
10 SBI CAP Securities 125828
11 Zerodha 61970
12 Geojit BNP Paribas 177397
13 Religare Securities 120282
14 Reliance Securities 97390
15 Edelweiss Broking 77459
16 SMC Global Securities 64231
17 Nirmal Bang Securities 61362
18 Ventura Securities 59228
19 Anand Rathi 58264
20 Networth Stock Broking 30544
21 Aditya Birla Money 39497
22 IndiaBulls 38553
23 Bonanza 33606
24 Master Capital Services 32003
25 JM Financial Services 28292
26 Shriram Insight 29119
27 BMA Wealth Creators Limited 32400
28 Shri Parasram Holdings 22707
29 IDBI Capital Services Limited 21376
30 LKP Securities 21643

One important observation is that out of the top 30 stockbrokers of India (in terms of active clients), only 1 stockbroker i.e. Zerodha is a discount broker by nature. Rest of the stockbrokers are full service and some of them even have a Bank as the parent company.

Having said that, it does not mean that discount brokers are not able to retain their client base. Discount stockbroking is a relatively recent concept while few full-service stockbrokers have been there for more than 20-25 years helping them to gain a good amount of traction over a period of time. Thus, be wise while deciding your stock broker based on your own preferences.

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