What do Stock Brokers do?
Stock brokers are professional traders who work for their clients. They are in charge of the trading account and buy and sell stocks. They might also be called a registered representative or an investment advisor. Most of the time, stock brokers work with brokerage firms to bring in customers.
Brokerage firms and broker-dealers are sometimes called stockbrokers as well. Full-service brokers and discount brokers are both part of the brokerage firms. Discount brokers only do the trade and don’t give advice on how to invest. Discount brokers make up most of the online brokers.
What kind of services does the best stock broker in India offer?
They tell you how to buy and sell stocks and take care of your securities. They can tell a client which stocks to buy or sell. They do a lot of research on the subject and then give suggestions.
They take care of all the paperwork and also buy and sell the stocks. They keep track of the statements and transactions.
Stockbrokers take care of their clients’ investment portfolios and keep them up to date on how those portfolios are doing. Have the responsibility to answer questions about investments.
They are in charge of telling the client about new stock market investment opportunities.
Also, they make plans for clients to change their investment plans based on how the market is doing.
Best Stock Broker in India Come in Many Forms
With a full understanding of what a stock broker is, how it works, and what it does, it is important to know how many different kinds of stock brokers there are. Most of the time, there are two kinds of stockbrokers.
Full-service stock brokers
They do everything for their clients. They offer the same services that traditional stock brokers do, as well as advice on the stock market. The only reason why they charge such high fees is because they offer so many services. They charge a fee called “brokerage” that is based on how much the client is trading. Also, stockbrokers who work full-time are well-known and have been in the business for a long time. Customers can go to the branch to get help with the same thing.
Stock brokers who charge less
A discount stock broker is another kind of stock broker. They came into play after people started using the internet too much. They give you the benefits of the best online trading platform for customers who join. Discount brokers don’t offer research tools or advice services. They charge less commission or a flat fee most of the time.
They give users a platform where they can start trading after logging in with the information they are given. Since everything is done online, this is a faster way to get the services done. Brokers can get in touch with clients through chat rooms, emails, and updates that happen in real time.
Here are the five most important things to look for in a brokerage firm.
People have more options to choose from now that the stock market is growing. But this has made it harder to choose because there are so many options. One can choose a stock brokerage by thinking about these things.
Costs of trading: The cost of trading is a big part of how you choose the right brokerage firm for you. It has a direct effect on how profitable your trades are. Most of the time, the costs of trading include brokerage fees, transaction fees, AMC fees, Demat fees, taxes, and more. Brokerage is a big part of how much it costs to trade. Most stock brokers charge brokerage fees in two ways:
Fixed brokerage: Some brokerage firms charge a fixed brokerage fee for every executed order, no matter how much the trade is worth.
Many stock brokers only charge a percentage of the value of the trade as their brokerage fee.
When choosing a brokerage firm, it’s best to go with one that has low brokerage fees, as this will help you in the long run and lead to more trades. There are different brokerage plans with steps where the fees go down and long-term benefits are given.
Aside from this, Demat charges are also a big part of what it costs to trade. Different stock brokers have different fees for AMC, transactions, and other things. Most of them offer Demat accounts with no AMC fees for life, which lowers the Demat account fees. So, if you want to make more money from trading, it’s best to choose a stock broker with low fees.
Trading platforms: The stock brokers’ online trading software is a big part of improving the experience, reliability, and ease of use. When looking for the best share brokerage company in India, you should always look for one that offers software with advanced charting tools or market scanners. A good brokerage company gives its clients trading software for the platform they want to use.
Also, choose a company that has a good mobile trading app that lets you look at trades while you’re on the go. While you’re doing your research, you should always read reviews of the stock broker’s trading platform and find out if it costs extra.
Margin leverage: Another thing that will help you choose the best share brokerage firm in India for you is margin leverage. Most stock traders really like the margin exposure facility because it lets them trade more than they have in their accounts. In addition to this, a number of brokers also let you borrow money against the shares you have in your Demat account through margin funding.
Reaching out to an experienced stock broker or a well-known brokerage firm means getting professional and dedicated research services. The research team will give you trading opportunities or read your calls to help with all your questions and give you answers right away. A good brokerage firm would put out reports on the economy, market trends, initial public offerings (IPOs), and other things. So, do your research to find out what a stock brokering firm can do.
1. Zerodha – Best Stock Broker in India
Zerodha is the best stock broker in India. They are number one. With the flat fee discount brokerage, it is one of the biggest and most popular brokers that offer services online. You can invest in Equity, Currency, Commodity, Initial Public Offerings (IPOs), and Mutual Funds.
It is one of the companies that offer equity delivery trades and direct mutual funds with no brokerage fees. The fees for intraday and F&O trades are either Rs 20 or 0.03%, whichever is less. The most you’ll pay in brokerage fees for any order is Rs 20. (of any size, amount, or segment).
They have the most active clients, the most market volume, and the most new clients. The company has a strong reputation for providing the safest, most reliable, and trustworthy services. Zerodha has the most advanced tools for online trading. The company offers Direct Mutual Funds with no fees.
The platform is great for both active and passive investors, as well as beginners, active traders, and Algo traders. The company has released an app called Zerodha Kite, which can be used for trading on both the web and on mobile devices.
At Zerodha, the cost of opening an account online is currently Rs 200. Zerodha also lets you open an account offline, which costs about Rs 400. The annual maintenance fee, or AMC, is Rs 300.
2. Upstox is India’s best stock broker
Upstox is the best stock broker in India and one of the first low-cost brokerage firms. The company is the best online stock broker in India, according to a list. They offer trading at prices that will blow your mind. They offer services in areas like stocks, commodities, currencies, futures, and options. All of the services are offered through two trading platforms: Upstox Pro Web and Upstox Pro Mobile.
Investors like Kalaari Capital, Ratan Tata, and GVK Davix are strong backers of the company.
They also offer a platform for trading, analysis, charts, and a lot of other useful trading tools. It makes it easier to place orders on mobile phones and web browsers. Omnisys NEST OMS and Omnisys NEST RMS are already built into the platform (Risk Management System).
The company’s trading accounts and trading in the Equity Delivery segment are both free. Also, Upstox Pro makes it easy for clients to trade in Equity F&O, Equity Indra-day, Commodities, and Currency Derivatives. Another paid service for traders is UpStox Pro.
Upstox charges Rs. 249 to open an account right now. The Demat Account Maintenance Charges are Rs 300 per year (AMC).
3. Angel Broking
In 1987, the business began. It has more than 110 branches and 11,000 sub-broker offices in more than 1800 Indian cities. In 2019, the company started its Brokegae plan to compete with Zerodha, which is a leading broker.
Angel Broking’s “Angel iTrade PRIME” plan is a flat-rate brokerage plan. This lets you trade in all segments (Intraday, F&O, Currencies, and Commodities) for a flat rate of Rs 20 per trade, except for Equity Delivery, which is free. Angel is called the first full-service broker for large companies. They offer their clients discount brokerage rates. It is best for beginners, so the platform is also thought to be the best stock broker for beginners in India.
The fees for a full-service trading account compared to the prices of a discount broker. For equity delivery, you only have to pay Rs 0 in brokerage fees, and for Intraday and F&O trades, you pay a flat Rs 20 in brokerage fees. You will get free research reports and services that are made just for you.
4. ICICI direct
The company with the most retail clients is ICICIdirect. It belongs to the ICICI GROUP. ICICI Direct is a place where you can buy and sell stocks and other investments online. It has more than 50 lakh clients, making it one of the best stock brokers in India. They help people trade stocks, commodities, and currencies at the BSE, NSE, and MCX markets. The company also helps people with Mutual Funds and Initial Public Offerings (IPOs), Fixed Deposits, Bonds, NCDs, Wealth Products, Home Loans, Loans against Securities, and other things.
They offer the most popular 3-in-1 account services, which include an ICICI Bank Account, an ICICI Trading Account, and an ICICI Demat Account. It gives the trader a service that works well. You can read about ICICI’s 3 in 1 account in our article.
They have made several brokerage plans, such as the I-Secure Plan, ICICIdirect Prime Plan, Lifetime Prepaid Brokerage Plan, and Neo Plan. A flat rate brokerage plan is what ICICI Neo Plan is. The company lets people trade equity futures without having to pay a broker. Also, it has a flat brokerage fee of Rs 20 per executed order for Equity Intra-day and Options trading and 0.55% for Equity Delivery. The plan gives you access to trading tips and research, a payout in 30 minutes when you sell shares, and low-interest margin funding.
They also offer a wide variety of products and services, such as One Click Equity, Margin Trading Funding (MTF), Smart Trading features, the Systematic Equity Plan, which makes it easy to invest in stocks, and a lot more.
5paisa.com is another leading example of a Best Stock Broker in India that offers discount brokerage services to small investors in India. The company is run and pushed by the people who started IIFL. They have more than 1.2 million clients right now.
At BSE, NSE, and MCX, they offer services for stocks, commodities, and currencies. It is one of India’s best flat-rate discount brokers. The company is one of the best platforms in India for people who are just starting out in the stock market. They charge a flat Rs 20 brokerage fee for every trade, segment, or exchange, no matter how big or small it is.
The company has come up with three subscription plans: the Basic Pack, the Power Investor Pack, and the Ultra Trader Pack. Each plan has the benefit of opening an account for free, which means that it costs nothing to open an account. Benefits of the plan include a flat fee that has been cut from Rs 20 to Rs 10.
Mutual Funds are another thing they do for you. There are both regular and direct mutual funds in it. For online investments in mutual funds, it charges a flat Rs 10 per executed order.
6. HDFC Securities
One of the best stock brokers in India, HDFC Securities is one of the platforms that lets you trade stocks both online and offline. There is also a 3 in 1 account from the company. The HDFC Securities trading account, your HDFC bank savings account, and your Demat account are all part of the 3 in 1 account. They offer moving services that go smoothly. To carry out the transaction, funds or shares are moved from the linked Demat/Bank account.
The company offers Cash-n-Carry on both NSE and BSE, Day trading on both NSE and BSE, Trade on Futures & Options on NSE, and Online IPO Investment.
The HDFC 3-in-1 Account is a full-service account. It is a combination of a savings account, a trading account, and a Demat account. Clients can easily trade and invest in Equity, Derivatives, Mutual Funds, Initial Public Offerings, and Fixed Deposits from a single account. When you open your 3-in-1 account, they give you a special charge of Rs 750 for a Demat account in which the Annual Maintenance Charge (AMC) is waived. The cost to open a new current account at HDFC Securities is Rs 999.
7. Kotak Securities
Kotak Securities Ltd is a subsidiary of Kotak Mahindra Bank. In 1994, the company was started. They sell financial products and help people buy and sell stocks. In total, they have 1209 service-providing branches, franchises, and satellite offices. At the moment, there are 11,95 Lakh of them.
The Bombay Stock Exchange and the National Stock Exchange are both part of their business. has also been a depository participant with National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL).
Kotak Securities offers a “three-in-one account” deal that lets investors open a Demat account, a trading account, and a bank account at Kotak Mahindra Bank Limited. The recipient only needs to fill out one form to do this. With a 3 in 1 account, you don’t have to move money from your bank account to your trading account by hand. The money will be added automatically, which makes things simpler. They offer services for Equity, IPO, Mutual Fund, ETF, Tax-free bonds, Currency Derivatives, Gold ETF, etc.
Filling out the form on the Kotak website is a quick and easy way to open an account. Just fill out the form with your name, phone number, email address, and city. When you send in the form, a Kotak Securities representative will call you. You can also download the form, fill it out with the necessary information, and send it to their registered office.
It’s another example of the Best Online Share Broker. The company was started in February 2000. It is India’s third-largest stockbroking service. They offer their services through Sharekhan.com, an online trading site. There are a total of 1800 offices in India, including branches and franchises. These offices are spread out over more than 550 cities. All kinds of people use their services, from individual investors and traders to corporate, institutional, and NRI clients. More than 17+ lakh people are customers of the company. On BSE and NSE, they offer facilities for trading cash shares and derivatives. On MCX and NCDEX, they offer facilities for trading commodities. The company also lets people open Demat accounts and invest in mutual funds and initial public offerings (IPOs).
Sharekhan TradeTiger is a well-known trading terminal that the company offers. It is one of the trading terminals that small investors use the most. The app is kind of like a broker’s terminal, which lets traders who do a lot of trades do them quickly. The company gives traders live data and other tools on the same screen, which helps them make trades.
Groww is an online broker based in Bangalore that offers discounts on brokerage services for a flat fee paid online. It helps to invest in stocks, initial public offerings (IPOs), and direct mutual funds. Also, the company Nextbillion Technology Private Limited uses it as its brand name. It is a member of both the NSE and the BSE and is registered with SEBI.
The business was set up in 2016. They began with the platform for investing in mutual funds. But in the middle of 2020, they added Equity trading to their list of services. Customers can also invest in Digital gold, US stocks, and fixed deposits through these companies. It is the best stock broker for beginners in India because the platform is easy to understand.
They charge as little as Rs 20 or 0.05% of each trade that goes through. This is the most you will pay in brokerage fees for an order, no matter how much or how little you buy. Also, the company offers free services for mutual funds, so there are no fees to invest or get money out of them.
It has its own trading platform, which is known as Groww (web and mobile trading app). The application and web services work well together, and investors are happy with how they work. It is safe to use the app because it has 128-bit encryption. Groww is known for having the fastest-growing customer base, with more than 90 lakh users. This is also one of the best-rated apps on both the Google Play Store and the App Store, with a rating of (4.5+).
10. Motilal Oswal
In 1981, a company called Motilal Oswal Securities Ltd. was started (MOSL). It is a financial service company based in Mumbai, India. The company provides services in Equity, Commodity, Currency, and Derivatives. They also buy and sell things like mutual funds, initial public offerings (IPOs), gold, insurance, and fixed income products.
The MOAMC discretionary Portfolio Management Service from Motilal Oswal Securities Ltd. (MOSL) is also well-known (PMS). Since the beginning of 2003, PMS has been listed as the best stock broker in India because of its consistent performance and the standard it has set for the market.
At the moment, Motilal Oswal runs more than 2,200 Business Locations in more than 500 cities and towns with the help of its Business Partners. With more than 100,000 customers who have signed up, they have depository assets worth about Rs 69,500 Crores.
Motilal Oswal Securities is built on a strong base of research. They spend almost 10% of their income on research on stocks. They have a team of people who do research on large companies, mid-sized companies, and technical issues. So far, they have put out more than 30,000 research reports on more than 260 companies in 21 different fields.