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What is a Stock Broker?
A Stockbroker is an Agent or firm that charges commission/ Brokerage fees for executing buy and sell orders on behalf of a client. A stockbroker may also be referred to as a “Financial Advisor”. However, most investors and traders use online discount brokers these days. As Brokerage charges of these Discount brokers are generally small. stockbrokers can be classified into 2 categories. 1 full-service broker and 2. Discount broker
In this article, we will compare 5 of the most popular Discount Stock Brokers in India on different factors, So as to figure out which Stock Broker will provide the best services. Every trader and Investor requires different kinds of services from a Stockbroker. Hence we will compare these Stock Brokers on the most important and required features that are essential for trading. In order to Pick the Best Stock Broker, you will have to set your priorities straight.
List of top 5 Stock Brokers in India.
This list is based on the number of active users on these Platforms.
- Zerodha: Zerodha is arguably the most famous online discount broker in India. Zerodha has more than 7.5 million clients and It single-handedly contributes to over 15% of all retail orders in the Indian market. Zerodha is Right up on the top in the competition with low brokerage charges in almost every segment. this platform allows traders to trade in, Futures and Options, Commodity derivatives, Currency derivatives, Stocks & IPOs, Direct mutual funds, Bonds, and Govt. Securities
- Upstox: Upstox is the fasting growing platform in the Indian market today. It provides an easy interface and Easy Acess to various segments like stocks, IPOs, Mutual funds, and futures and options. Technical analysts prefer upstox due to its fast performance and easy-to-use interface
- Angleone: Angelone have rebranded its name recently, It is one of the most popular platforms among traders, it was formerly known by the name Angle broking. Angle one has been in the business for a long time, and currently has a client base of more than 6 million. It is another platform that provides low broking charges and a quality user interface.
- ICICIdirect : ICICIdirect is one of the largest retail brokers and financial product distributors in the country. Trusted by over 5 million customers with over 2 decades of service having 170+ branches across India. ICICIdirect offers more than 50 products and services like Equity, Mutual Funds, Derivatives, Futures and Options, Commodities, Insurance, IPOs etc.
- Groww : Groww has the biggest customer base amongst the stockbrokers listed here. It is trusted by over 20 million users. Grow provides various products and services like Stocks, Mutual funds, IPOs, and F&O. Apart from these Groww also provides a trustable palatorm for traders and investors to trade in the US market.
Comparison of Stock Brokers
| Demat Services | Zerodha | Upstox | Angelone | ICICdirect | Groww |
| Depository Source | CDSL | CDSL | CDSL | NSDL & CDSL | NSDL & CDSL |
| Account Opening Charges | Rs.200 | Rs 0 (Free) | Zero | Zero | Zero |
| Demat AMC Charges | Rs.300 per Annum | Rs 249 | Rs 450 | Rs 300 (from 2nd year) | Free |
| Trading AMC Charges | Free | Free | Free | Free | Free |
| Margin Money | 75% Margin | 75% Margin | 75% Margin | 75% Margin | 75% Margin |
Brokerage and Fees
| Brokerage Charges & Fees | Zerodha | Upstox | Angelone | ICICdirect | Groww |
| Equity Delivery | Rs 0 (Free) | Rs 20 per executed order or 2.5% whichever is low | Rs 0 (Free) | 0.55% | 0.01 |
| Equity Intraday | Rs 20 per executed order or .03% whichever is lower | Rs 20 per executed order or 0.05% whichever is lower | Rs 20 per executed order | 0.275% | 2.025% |
| Equity Futures | Rs 20 per executed order or .03% whichever is lower | Rs 20 per executed order or 0.05% whichever is lower | Rs 20 per executed order | 0.05% | 0.01 % |
| Equity Options | Rs 20 per executed order | Rs 20 per executed order | Rs 20 per executed order | Rs 95 per lot | 0.05% |
| Currency Futures | Rs 20 per executed order or .03% whichever is lower | Rs 20 per executed order or 0.05% whichever is lower | Rs 20 per executed order | Rs 20 per order | NA |
| Currency Options | Rs 20 per executed order or .03% whichever is lower | Rs 20 per executed order | Rs 20 per executed order | Rs 20 per order | NA |
| Commodity Futures | Rs 20 per executed order or .03% whichever is lower | Rs 20 per executed order or 0.05% whichever is lower | Rs 20 per executed order | Rs 20 per order | Na |
| Commodity Options | Rs 20 per executed order or .03% whichever is lowe | Rs 20 per executed order | Rs 20 per executed order | Rs 20 per order | NA |
| Minimum Brokerage | 0.03% in Intraday and F&O | 0.05% | Equity Rs 20 | F&O Rs 30 | Rs 35 per trade (I-Secure Plan) | 0.05% |
| Call & Trade Charges | Rs 50 per executed order | Rs 20 per trade | Additional Rs 20 per executed order | Rs 50 per trade | Rs 20 per trade |
