Exploring options among the best brokers in India to initiate your trading journey? Check out our list of the top 10 share brokers in India. It illustrates the key features and charges of the top 10 brokers. Select the most suitable broker and enjoy a lifetime free demat account to kickstart!
In this article, you will read about:
- Groww | Best Online Broker in India
- Shoonya | Trading App with Zero Brokerage
- Zerodha | Best Share Broker
- Fyers | Online Stock Broker in India
- TradeSmart | Top Online Trading App
- Angel One | Best Share Market Broker in India
- Upstox | Best Trading Platform for Beginners
- 5 Paisa | Best Stock Broker in India
- ICICI Direct | Top Online Stock Broker in India
- HDFC Securities Ltd | Top Stock Investment Platform
Top 10 Brokers in India
Below is a detailed overview of the top 10 share brokers in India:
1. Groww| Best Online Broker in India
Groww tops the list of 10 best brokers in India. it has become a significant participant in India’s digital discount broking sector, offering a user-friendly trading app with minimal brokerage fees and zero-commission direct mutual funds.
Cost Structure
| Service | Cost |
| Equity, Intraday, and F&O | Rs 20 per executed trade or 0.05% |
| Mutual Funds | Zero commission |
| Auto square-off fees | Rs 50 |
| Additional charges | Transaction, regulatory, and Demat charges |
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2. Shoonya| Best Online Trading Platform in India
Shoonya introduced in 2013, holds the esteemed 2nd position among the top 10 share brokers in India. It’s renowned for its zero-commission trading platform, offering commission-free trading across various segments and a streamlined account setup process.
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Cost Structure
| Service | Cost |
| All trading segments | Zero Brokerage |
| Account Opening Charges | Free |
| Account Maintenance Charges | Zero |
3. Zerodha| Best Share Broker
Zerodha secures the third position among the top 10 share brokers in India. Zerodha offers zero brokerage fees for Equity Delivery and Mutual Funds, with a maximum charge of Rs 20 per trade.
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Cost Structure
| Service | Cost |
| Equity Delivery | Rs 0 (Free) |
| Equity Intraday, Futures, Options, etc. | Flat Rs 20 or 0.03% per order (whichever is lower) |
| Mutual Fund | Rs 0 (Free) |
| Account Opening Charges | Online – Rs 200, Offline – Rs 400, Demat AMC – Rs 300/year |
4. Fyers| Top Online Stock Broker in India
Fyers ranks at number 4th in the top 10 share brokers in India. It offers brokerage-free trading in Equity Delivery and Direct Mutual Funds. It charges a flat Rs 20 per trade for Intra-day and F&O, keeping trading costs low.
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Fyers provides a thematic investing platform, allowing investors to invest in ideas or themes rather than individual stocks, with over 100 predefined themes and the flexibility to buy and sell with ease.
Cost Structure
| Segment | Brokerage Fees |
| Equity Delivery | Free (No Brokerage) |
| Equity Intraday | Rs 20 per executed order or 0.03% (whichever is lower) |
| Futures (Equity, Currency, Commodity) | Rs 20/ executed order or 0.03% (whichever is lower) |
| Options (Equity, Currency, Commodity) | Rs 20 per executed order |
5. TradeSmart| Online Trading App
TradeSmart offers competitive brokerage rates, with traders paying Rs 15 per executed order, regardless of trade size, under the Power Trading Plan.
The Value Trading Plan provides flexibility with brokerage rates of 0.007% for Equity Intraday, Futures, Currency, and Commodities.
Both plans offer intraday exposure of up to 30x on Equities, 7x on F&O, 3x on Currency, and 6x on Commodities, along with margin against shares and no hidden fees or commitments.
Cost Structure
| Transaction | Charges |
| Trading Account Opening (One Time) | Rs 200 |
| Demat Account Opening (One Time) | Rs 200 |
| Trading Annual Maintenance Charges (AMC) | NIL |
| Demat Account Annual Maintenance Charges (AMC) | Rs 300 (from 2nd year onwards) |
| Brokerage Plan | Brokerage Rates |
| Power Trading Plan | Flat Rs 15 per trade |
| Value Trading Plan | 0.007% for Equity Intraday, Equity F&O, Commodities, and Currency derivatives; 0.07% for Equity Delivery; Rs 7 per lot for Options |
6. Angel One| Best Share Market Broker in India
Securing the 6th position among the top 10 share brokers in India, Angel One provides a user-friendly trading platform with transparent pricing models.
It charges a flat fee of ₹ 20 per order across various segments, offering brokerage-free equity delivery trades.
Cost Structure
| Service | Cost |
| Equity Delivery | Flat Rs 0 (Free) |
| Equity Intraday | Flat Rs 20 or 0.25% per order |
| Account Opening Charges | Free |
| Demat AMC | Rs 300/year |
7. Upstox| Best Trading Platform for Beginners
Upstox, established in 2011, ranks 7th in the top 10 share brokers in India. It distinguishes itself with charges of a flat Rs 20 per trade brokerage across all segments, offering advanced order types and online account opening free of charge.
Cost Structure
| Segment | Cost |
| Equity Delivery, Intraday, F&O | Rs 20 per order |
| Currency, Commodity Futures | Rs 20 per order |
| Call & Trade | Rs 20 per executed order |
| Account Opening Charges | Free |
8. 5 Paisa| Best Broker in India
5paisa, a flat rate online trading platform, ranks at number 8 among the top 10 share brokers in India. It offers trading in equity, commodity, and currency at BSE, NSE, and MCX.
Cost Structure
| Transaction | Charges |
| Demat Account Annual Maintenance Charges | Rs 300 per year |
| Brokerage Fee | Rs 20 per executed order, reduced with subscription plans |
| Mutual Funds | Rs 10 per executed order for online investments |
| Margin Trade Funding | 0.06% per day |
9. ICICI Direct| Top Online Stock Broker in India
ICICI Direct, ranked 9th among the top 10 brokers, provides a range of brokerage plans. Its services include equity, commodity, and currency trading across major exchanges.
ICICI Direct offers the Neo Plan that charges a flat Rs 20/ per executed order for Equity Intraday and Options trading.
Cost Structure
| Service | Cost |
| Equity Delivery | 0.55% brokerage |
| Equity Intraday, Options | Flat Rs 20 per order |
| Account Opening Charges | Free |
| Demat AMC | Rs 300/year |
10. HDFC Securities Ltd| Top Stock Investment Platform
HDFC Securities offers a comprehensive suite of over 30 products and services to its extensive client base. Offering competitive brokerage charges with the lowest brokerage of 0.10% per trade for Equity Delivery, HDFC Securities ensures a seamless investment experience.
Cost Structure
| Segment | Cost |
| Equity Delivery | 0.10% brokerage |
| Account Opening Charges | Rs 999 |
| Demat AMC | Varies |
Conclusion
Selecting the right broker is crucial for cost-effective trading in India. Among the top 10 share brokers, each offers distinct advantages in terms of cost structures, services, and account features. Comparing fees, features, and offerings can help you kickstart in the right manner.
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