Best Full-Service Brokers in India 2024

Imagine going on an adventure in a big, tricky forest. You'll find cool treasures but also face some dangers. The paths are all mixed up and hard to follow. In such a scenario, a seasoned guide who not only knows every trail and shortcut but also carries with them tools and provisions for any eventuality becomes invaluable. India’s financial markets are no different than a tricky forest, and this is where full-service brokers come into the picture.

Full-service brokers are akin to these knowledgeable guides, offering a comprehensive suite of services that go beyond mere stock buying and selling. They provide research, advice, retirement planning, and tax assistance, among other things, essentially holding the investor's hand through their investment journey. 

With the Indian stock market becoming more accessible yet increasingly complex, the role of these brokers has never been more critical. In this blog, we'll discover the top full-service brokers in India, assisting you in understanding the stock market and helping you meet your financial goals.

Best Full-Service Brokers in India 

There are more than 4,000 stock brokers registered with SEBI, which contains a mix of both discount and full-service brokers. We have reviewed and shortlisted 5 full-service brokers on the basis of the active clients and services provided by them:

1. Angel One
2. ICICI Direct
3. HDFC Securities
4. Kotak Securities
5. Motilal Oswal

Know details about them ⤵

1. Angel One

Established in 1996, Angel One, formerly known as Angel Broking Limited, ranks among the full-service brokers with the highest number of active clients. It competes closely with leading discount brokers such as Groww and Zerodha. Angel One offers a wide range of innovative services, such as online trading and investing, advisory services, margin trading facilities, algorithmic trading, and smart orders. 

Here are the key highlights of Angel One-

• Investment Options: Angel One offers a variety of investment options to suit different risk appetites and financial goals, such as stocks, mutual funds, IPOs, US stocks, ETFs, currencies, commodities and corporate bonds.
• Trading Platforms: It offers platforms like Angel One Super App (mobile app) and Angel One Trade for seamless trading on the go or from your computer.
• Research and education: It provides its clients access to a variety of research and education resources, including research reports, market analysis, and educational courses. These resources can help you make informed investment decisions.
• Fees and Charges: It charges ₹0 for Equity Delivery, ₹0 for the first 30 days for Intraday, F&O, Currencies & Commodities.

Read the full Angel One Review.

2. ICICI Direct

ICICI Direct is a convenient online platform offered by ICICI Securities. It allows you to trade and invest in a variety of financial instruments. It provides access to equities, derivatives, currencies, commodities, mutual funds, and even IPOs, all in one place. Whether you're a seasoned investor or just starting out, ICICI Direct offers features like systematic investment plans (SIPs) and research tools to help you make informed decisions.

Here are the key highlights of ICICI Direct:

• Investment Options: ICICI Direct allows you to trade in products such as stocks, mutual funds, commodities, currency, FDs and bonds, IPOs, ETFs, futures and options.
• Platforms and Features: 
  • Flash Trade for clutter-free trading
  • GTT orders to track the market
  • eATM to receive money within 5 minutes of selling stocks
  • Margin Trading Funding (MTF) to buy stocks now and pay later
  • Payout analyser & other tools, resources, research & live market commentary you need to stay on top of the stock market
• Wealth Management Services: It offers wealth management services, including Portfolio Management Services (PMS), for investors seeking personalised investment management by professionals. Wealth management services typically involve a higher level of service and minimum investment compared to regular investment accounts.
• Trading Platforms: It offers two main trading platforms: ICICI Direct, which is an all-in-one app, and Multipie, which lets you connect with like-minded investors, has a 360-degree stock view and much more.

Read the full ICICI Direct Review

3. HDFC Securities 

Established in 2000, HDFC Securities is a leading stockbroker in India, boasting a long history of serving retail and institutional investors. They provide a comprehensive suite of investment products and services, including equities, derivatives, mutual funds, IPOs, and bonds, allowing investors to craft a well-diversified portfolio.

It stands out for its user-friendly online trading platforms, which allow seamless execution and account management. Their 3-in-1 account combines broking, banking, and Demat accounts, offering an all-in-one solution for a hassle-free experience.

Here are the key highlights of HDFC Securities:

• One-Stop Shop for Investments: HDFC Securities facilitates investment in various financial instruments, including equities, mutual funds, bonds, derivatives, IPOs, and more, eliminating the need for multiple accounts.
• 3-in-1 Account: This unique feature combines a broking account, a Demat account, and a bank account, simplifying investment management and fund transfers.
• Detailed Portfolio Tracking: Investors can access comprehensive reports on their holdings, including current market value, buy price, profit/loss, and sector-wise diversification, enabling informed investment decisions.
• Investment Research and Tools: HDFC Securities provides access to research reports, market analysis, and investment tools to aid investors in making informed choices.
• Multiple Trading Platforms: HDFC Securities provides various platforms to suit individual preferences, including web-based platforms and mobile applications. This allows traders to access their accounts and execute trades from anywhere, anytime.
• 24x7 Customer Support: Traders can seek assistance through phone, email, or chat 24/7, ensuring prompt resolution of any queries or issues.
• Margin Trading Facility: This feature enables traders to leverage their existing holdings to amplify potential returns, but it also carries increased risk.
• Variety of Brokerage Plans: HDFC Securities offers diverse brokerage plans to cater to different trading styles and volumes, allowing traders to choose a cost-effective option.

4. Kotak Securities

Kotak Securities is a wealth management and full-service stockbroking firm that operates in India. It provides a broad spectrum of investment products and services that cater to the diverse needs of numerous investor segments. With a history spanning over 25 years, it has become one of the most reputable and trustworthy brokerage houses in the country, renowned for its innovative strategies, research proficiency, and excellent customer service.

Here are the key highlights of Kotak Securities

• Trading Account: Access various trading platforms, including-
  • Kotak Neo: User-friendly mobile app for beginners and active traders.
  • Web Trader: Web-based platform offering advanced charting and analytical tools.
  • Kotak Screener: Powerful desktop application for in-depth market analysis.
• Advanced Order Types: Place sophisticated orders like Bracket Orders, Cover Orders, and Stop-Loss orders.
• Margin Trading: Borrow funds to amplify your buying power with interest.
• Basket Orders: Execute multiple buy or sell orders simultaneously for efficient trading.
• Option Chain Analysis: Analyse option contracts to make informed decisions about options trading.
• Real-time Market Data: Get live market updates, quotes, charts, and news to stay ahead of the curve.

Read Kotak Securities Review.

5. Motilal Oswal

Motilal Oswal is a well-established Indian financial services company founded in 1987. It offers a wide range of products and services to help you manage your money. Whether you're interested in trading stocks, investing in mutual funds, or planning for your future, Motilal Oswal can be a one-stop shop. Its features include discounted brokerage rates, research reports, and ready-made investment strategies. 

Here are the key highlights of Motilal Oswal:

• Multiple investment options: They offer a variety of investment products, including equities, options, derivatives, mutual funds, PMS (Portfolio Management Services), and more.
• Research and Recommendations: They are known for their award-winning research and provide recommendations to help investors make informed decisions.
• Multiple platforms: Motilal Oswal offers a variety of trading platforms to suit different investor needs, including web-based platforms, mobile apps, and desktop applications.

Brokers	Active Clients as of 31 March 2024	Market Share
Angel One	61,11,879	15.28%
ICICI Direct	18,45,202	4.61%
Kotak Securities	12,08,948	3.02%
HDFC Securities	10,97,747	2.74%
Motilal Oswal	8,79,629	2.19%

Conclusion

If you're looking for a full-service broker, you may feel overwhelmed by the many options available. Fortunately, we are here to help. Finology Select can guide you through the process of comparing different brokers based on important factors such as brokerage charges, trading platforms, research reports, customer support and more. Visit us today to get started with your financial journey.