Top 5 Stock Brokers in India 2024

Created on 21 Apr 2023

Wraps up in 6 Min

Read by 24.6k people

Updated on 28 May 2024

A stock broker is a professional who facilitates the buying and selling of securities on behalf of their clients. They act as intermediaries between buyers and sellers in the financial market. A stock broker is licensed and regulated by the Securities and Exchange Commission (SEC). They work for brokerage firms, and their job is to help clients buy or sell stocks, bonds, and other financial instruments.

In this article, we will include a list of brokers that are popular among investors and traders.

Best Stock Brokers in India

The top stock brokers in India are those that offer competitive rates, good customer service, user-friendly platforms and strong research and analysis tools.

1. Zerodha

Zerodha is a popular Indian financial services company that specialises in online trading and investment solutions. It is one of the fastest-growing brokerage firms in the country and has over 7.3 million active clients as of April 2024. With its cutting-edge technology, Zerodha offers a variety of services, including equity trading, mutual funds, forex and commodities.

Zerodha is considered a good stock broker because of the following reasons: 

2. Groww

Groww is a leading online investment platform in India that offers a wide range of investment products, including mutual funds, stocks, ETFs, digital gold, and IPOs. It is a SEBI-registered broker and AMFI-registered mutual fund distributor. Groww is known for its user-friendly interface, low brokerage charges, and comprehensive educational resources. Its features are: 

3. Angel One

Angel One (formerly known as Angel Broking) is a leading Indian stockbroking and wealth management company known for its innovative technology and customer-centric approach. It offers a variety of trading platforms, including a web-based platform, mobile app, and desktop trading software. Angel One also offers a variety of educational resources to help investors learn about the stock market and investing.

4. Upstox

Upstox is a discount broker based in India that offers online trading and investment services in stocks, mutual funds, ETFs, and futures and options. It is the fourth largest discount broker in India, with over 2.5 million active clients as of April 2024. It offers a variety of trading tools and features, including:

5. ICICI Direct

ICICI Direct is the pioneer in online trading in India and was the largest stock broker for over 20 years until 2019. ICICI Direct is part of the renowned ICICI Group and offers a personal relationship manager and local support, providing a smooth and fast online trading experience. 

Active Clients of Top 5 Stock Brokers

Broker Active Clients as of April 2024
Groww 99,31,232
Zerodha 73,92,836
Angel One 63,02,598
Upstox 25,55,618
ICICI Direct 18,62,161


The stockbroking industry in India is highly competitive and has multiple major players competing for market share. Each brokerage firm has its strengths and weaknesses and caters to a specific customer base. Ultimately, the decision to choose a stockbroker depends on an individual's investment goals, trading patterns, and market knowledge.

To learn more about these stockbrokers, you can visit Select, where you can compare and choose from over 20 stockbrokers in India.

Frequently Asked Questions

1. What are the different types of stock brokers in India?

There are two main types of stock brokers in India:

  1. Full-service brokers: These brokers offer a wider range of services, including research reports, advisory services, and wealth management. They typically charge higher brokerage fees than discount brokers.
  2. Discount brokers: These brokers focus on online trading and offer lower brokerage fees. They typically don't provide research or advisory services.

2. What factors should I consider when choosing a stock broker?

Here are some factors to consider when choosing a stockbroker in India:

3. Is it safe to invest with online brokers in India?

Online broking in India is regulated by SEBI (Securities and Exchange Board of India). As long as you choose a SEBI-registered broker, it is generally safe to invest with them. However, it's important to do your own research before investing with any broker.