Top Full-Service Broker in India in 2024

Investing in the Indian stock market can be a great way to grow your wealth over time, but it can be quite challenging and intimidating for beginners to navigate. Fortunately, full-service brokers can be a valuable resource in helping you make informed investment decisions. These brokers offer a wide range of services, including personalised investment advice, research reports, and access to a variety of investment products. 

In this comprehensive guide, we'll take a closer look at the top full-service brokers in India and the specific services and features they offer. From brokerage fees and account minimums to investment tools and research resources, we'll cover everything you need to know to help you choose the right broker for your specific investment needs and goals. 

Whether you're a seasoned investor with years of experience or just starting out on your investment journey, this guide will provide you with the information and insights you need to confidently navigate the Indian stock market and maximise your investment returns.

Top Full-Service Brokers in India in 2024

• Angel One
• ICICI Direct
• HDFC Securities
• Kotak Securities
• Motilal Oswal
• Sharekhan
• Axis Direct

1. Angel One

Angel One is a leading stockbroking firm in India that offers a wide range of investment products and services. The company is known for its zero brokerage policy for trades executed in cash delivery, and it also offers competitive rates for other trading segments. Angel One has a strong track record of customer service and is committed to providing its clients with the best possible experience.

Key highlights of Angel One:

• Users can sign up for free and then pay for each trade made through their account; there are no monthly fees associated with using this service.
• Angel One also includes access to market news and research reports from Morningstar, which is known for its independent analyses of stocks and ETFs.
• It offers a number of investment tools, including an investment calculator that can help you determine how much money you need to reach your financial goals.
• The company also offers a premium service, which includes access to a team of investment advisors who can provide personalised guidance.

2. ICICI Direct

ICICI Direct is one of the most popular full-service brokers in India. It was established in the year 2000 and has since then been providing its customers with various financial products and services. The company offers services such as wealth management, investment advisory services, portfolio management, etc.

The advantages of using ICICI Direct include:

• Low costs - You will be able to invest in mutual funds at low costs through this broker because it provides online access to all your transactions at any time of day or night from anywhere in India. This means that you do not have to worry about paying high fees for trades done during market hours (9 am - 5 pm).
• You are also able to invest in mutual funds indirectly through this portal. This means that you won’t have to worry about paying high brokerage fees or commissions when you make transactions with ICICI Direct.
• Reliable and safe - You can rely on this broker to provide you with a secure platform for making your investments, as it is regulated by SEBI. Furthermore, ICICI Direct offers secure online transactions through secured socket layer (SSL) encryption technology.

3. HDFC Securities

HDFC Securities is one of the leading full-service brokerage firms in India. The company was founded in 1996 and has since grown to become one of the most trusted names in the industry.

The services offered by HDFC Securities include:

• Equity Broking Services
• Mutual Fund Services
• Commodity Derivative Trading (Futures & Options)

The advantages of using HDFC Securities are:

• HDFC Securities also works with a large number of financial advisors and independent dealers to provide clients with the best possible advice on their investments
• At HDFC Securities, you can trade in stocks, commodities and currencies at very low fees.

4. Kotak Securities

Kotak Securities is a full-service broker that offers trading services in equities, derivatives and commodities. The company also provides research services to institutional clients. Kotak Securities was founded in 1994 by Uday Kotak and has offices across India as well as overseas markets such as Singapore and Dubai.

The company offers a wide range of products, including equity shares, index futures contracts, options contracts (puts & calls), currency futures contracts and commodity futures contracts through its online trading platform called KOTAK Direct Plus+. This enables investors to trade online with ease while enjoying the benefits associated with being part of one of India's largest financial institutions - Kotak Mahindra Bank Limited (KMB).

The advantages of Kotak Securities are:

• Kotak Securities has a strong presence in the capital markets space, with its business segments covering debt securities, equity derivatives, commodities and currencies. 
• The company provides research coverage for over 400 companies listed on Indian stock exchanges. This includes both large-cap and small-cap firms across various sectors, including banking & financial services, IT/ITES, healthcare and pharmaceuticals.

5. Motilal Oswal

Motilal Oswal is a full-service brokerage firm that offers services in equity, debt and currency markets. The company was founded in 1993 by Motilal Oswal, and it has more than 2200 employees working across its offices in India and abroad.

The advantages of Motilal Oswal are:

• They have a wide network of branches across India with over 150 branches spread across all major cities, including Mumbai, Delhi NCR, Kolkata etc., which makes it easier for you to get your investments done without any hassle or delay. 
• They provide 24x7 customer support via phone calls or emails, so if there's anything wrong with your account, then you can always contact them anytime during the day without worrying about getting any response from them as well!

6. Sharekhan

Sharekhan is a full-service broker that offers trading services in equities, derivatives, mutual funds and commodities. The company was established in 1999 as a subsidiary of the National Stock Exchange (NSE). Sharekhan has offices in Mumbai, Kolkata and Delhi, with over 300 employees who work closely with their clients to provide them with personalised service.

The services offered by Sharekhan include:

• Trading on NSE's SME platform;
• Online trading through their website or mobile app;
• Brokerage services for individual investors through NSE's SME platform;
• Research reports on various stocks & sectors are regularly published online.

The advantages of Sharekhan are:

• Sharekhan has also launched a mutual fund platform that enables investors to invest in mutual funds online
• Advisory services for investors, including portfolio management and mutual fund advisory; OTC trading through their subsidiary company Sharekhan OTC Limited.

7. Axis Direct

Axis Direct is one of the leading full-service brokers in India. It offers a wide range of financial services, including insurance and investments. The company has been around since 1988 and has more than 1,200 employees working across its branches in India and abroad.

Axis Direct provides its customers access to a wide range of products from different companies through a single platform. This means that you can find everything you need in one place without having to go through multiple websites or applications for each product or service that interests you.

The advantages of Axis Direct are:

• The company has partnered with leading insurers like Bajaj Allianz General Insurance Company Limited, HDFC Life Insurance Company Limited and ICICI Lombard General Insurance Co. Ltd to provide its customers with a host of options.
• You can find a variety of insurance policies, investment products and loans on the Axis Direct website. The company offers different types of home and car insurance policies, as well as health covers that can be customised to suit your needs.

Conclusion

With a plethora of full-service brokers vying for your attention, choosing the right one can be an overwhelming task. But fear not, for you are not alone in this endeavour. Select by Finology is here to guide you through the maze of options and help you make an informed decision. It is a comprehensive platform that empowers you to compare various stock brokers based on a range of crucial factors, including brokerage charges, trading platforms, research reports, and customer support. Visit today!