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Stock Brokers

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Groww (3.1) Full Details

Discount Broker
Equity
Commodity
Currency
Futures
Options

Account Opening Charge

Free

Account Maintenance Charge

Free

Equity Delivery Brokerage

0.1%

Equity Intraday Brokerage

0.1%

Zerodha (3.8) Full Details

Discount Broker
Equity
Commodity
Currency
Futures
Options

Account Opening Charge

Free

Account Maintenance Charge

₹ 300

Equity Delivery Brokerage

Zero

Equity Intraday Brokerage

0.03%

Angel One (3.2) Full Details

Full Service Broker
Equity
Commodity
Currency
Futures
Options

Account Opening Charge

₹0

Account Maintenance Charge

₹240

Equity Delivery Brokerage

₹0

Equity Intraday Brokerage

0.03%

Upstox (3.4) Full Details

Discount Broker
Equity
Commodity
Currency
Futures
Options

Account Opening Charge

₹0

Account Maintenance Charge

₹0

Equity Delivery Brokerage

₹20

Equity Intraday Brokerage

0.05%

ICICI Direct (3) Full Details

Full Service Broker
Equity
Commodity
Currency
Futures
Options

Account Opening Charge

₹0

Account Maintenance Charge

₹300

Equity Delivery Brokerage

0.29%

Equity Intraday Brokerage

₹20

HDFC Securities (3.1) Full Details

Full Service Broker
Equity
Commodity
Currency
Futures
Options

Account Opening Charge

₹0

Account Maintenance Charge

₹0

Equity Delivery Brokerage

0.10%

Equity Intraday Brokerage

0.01%

Kotak Securities (3.1) Full Details

Full Service Broker
Equity
Commodity
Currency
Futures
Options

Account Opening Charge

₹0

Account Maintenance Charge

₹0

Equity Delivery Brokerage

₹0

Equity Intraday Brokerage

₹10

Motilal Oswal (3) Full Details

Full Service Broker
Equity
Commodity
Currency
Futures
Options

Account Opening Charge

Free

Account Maintenance Charge

₹199

Equity Delivery Brokerage

0.20%

Equity Intraday Brokerage

0.02%

Paytm Money (3.4) Full Details

Discount Broker
Equity
Commodity
Currency
Futures
Options

Account Opening Charge

Free

Account Maintenance Charge

Free

Equity Delivery Brokerage

₹20

Equity Intraday Brokerage

0.05%

5paisa (3) Full Details

Discount Broker
Equity
Commodity
Currency
Futures
Options

Account Opening Charge

Free

Account Maintenance Charge

₹ 300

Equity Delivery Brokerage

₹ 10

Equity Intraday Brokerage

₹ 10

IIFL (2.8) Full Details

Full Service Broker
Equity
Commodity
Currency
Futures
Options

Account Opening Charge

Free

Account Maintenance Charge

₹ 250

Equity Delivery Brokerage

Zero

Equity Intraday Brokerage

₹ 20

Axis Direct (3.3) Full Details

Full Service Broker
Equity
Commodity
Currency
Futures
Options

Account Opening Charge

₹ 499

Account Maintenance Charge

₹ 790

Equity Delivery Brokerage

0.50%

Equity Intraday Brokerage

0.05%

Dhan (3.7) Full Details

Discount Broker
Equity
Commodity
Currency
Futures
Options

Account Opening Charge

Free

Account Maintenance Charge

Free

Equity Delivery Brokerage

Zero

Equity Intraday Brokerage

0.03%

Choice (3.4) Full Details

Full Service Broker
Equity
Commodity
Currency
Futures
Options

Account Opening Charge

Free

Account Maintenance Charge

₹ 200

Equity Delivery Brokerage

0.20%

Equity Intraday Brokerage

0.02%

Nuvama (3.1) Full Details

Full Service Broker
Equity
Commodity
Currency
Futures
Options

Account Opening Charge

Free

Account Maintenance Charge

₹ 500

Equity Delivery Brokerage

0.30%

Equity Intraday Brokerage

0.03%

FYERS (3.4) Full Details

Discount Broker
Equity
Commodity
Currency
Futures
Options

Account Opening Charge

Free

Account Maintenance Charge

Free

Equity Delivery Brokerage

₹0

Equity Intraday Brokerage

0.03%

m.Stock (3.6) Full Details

Discount Broker
Equity
Commodity
Currency
Futures
Options

Account Opening Charge

Free

Account Maintenance Charge

₹480

Equity Delivery Brokerage

Zero

Equity Intraday Brokerage

0.30%

Alice Blue (2.6) Full Details

Discount Broker
Equity
Commodity
Currency
Futures
Options

Account Opening Charge

Free

Account Maintenance Charge

₹ 400

Equity Delivery Brokerage

Zero

Equity Intraday Brokerage

0.01%

Anand Rathi (2.5) Full Details

Full Service Broker
Equity
Commodity
Currency
Futures
Options

Account Opening Charge

Free

Account Maintenance Charge

₹ 450

Equity Delivery Brokerage

0.20%

Equity Intraday Brokerage

0.02%

Espresso Sharekhan (2.9) Full Details

Discount Broker
Equity
Commodity
Currency
Futures
Options

Account Opening Charge

Free

Account Maintenance Charge

₹ 400

Equity Delivery Brokerage

Zero

Equity Intraday Brokerage

0.03%

Shoonya (3.8) Full Details

Discount Broker
Equity
Commodity
Currency
Futures
Options

Account Opening Charge

Zero

Account Maintenance Charge

Zero

Equity Delivery Brokerage

Zero

Equity Intraday Brokerage

Zero

Samco (2.8) Full Details

Discount Broker
Equity
Commodity
Currency
Futures
Options

Account Opening Charge

Free

Account Maintenance Charge

₹ 400

Equity Delivery Brokerage

0.5%

Equity Intraday Brokerage

0.05%

Bajaj Broking (2.9) Full Details

Discount Broker
Equity
Commodity
Currency
Futures
Options

Account Opening Charge

Free

Account Maintenance Charge

₹431

Equity Delivery Brokerage

₹20

Equity Intraday Brokerage

₹20

TradeSmart Online (2.8) Full Details

Discount Broker
Equity
Commodity
Currency
Futures
Options

Account Opening Charge

Free

Account Maintenance Charge

₹ 300

Equity Delivery Brokerage

0.07%

Equity Intraday Brokerage

0.007%

Stoxkart (2.9) Full Details

Discount Broker
Equity
Commodity
Currency
Futures
Options

Account Opening Charge

₹0

Account Maintenance Charge

₹300

Equity Delivery Brokerage

₹0

Equity Intraday Brokerage

₹15
Frequently Asked Questions

As the name itself suggests, these are brokers who deal in stocks (along with commodities, currency, equity etc.). So, stock brokers are the middlemen that buy or sell securities on investors’ behalf at the exchange(s). They provide trading platforms to the investors where the transactions can be executed and tracked. In simple words, stock brokers are those without whom you can not open your demat account. And, without a demat account, you can not invest or trade. So, stock brokers are an important part to start your investing journey.
 

Whenever you hear the term ‘broker’ you would think about a middleman or an agent that makes two parties meet for a deal. A stock broker, in the same way, is a middleman between the listed companies and the investor (or trader). A stock broker is the only medium through which your demat account is opened i.e. you need to compulsorily register with a broker for opening your demat account. The broker also provides you with a platform for trading and investing. Your broker is authorized to buy and sell securities on your behalf at the exchanges.

Basically, a stock broker would provide you services in exchange of brokerage or annual fee or commission.

You would find many articles on the web that claim to inform about the list of top 10 stock brokers in India. But, here the important point is that what are the aspects or criteria based on which the list has been prepared. Usually, a beginner would be excited to know about the top 10 stock brokers in India and would try searching the web for the same. But, there are various criteria based on which a stock broker should be evaluated like – type of broker (discount or full-service), quality of services, customer support, the interface of trading platform etc.

First of all, you need to ensure whether you are looking for the best stock broker in India in the sense that which is the one that people admire the most, or, the one which would be the best for you. So first, you need to decide whether you prefer trading or investing (traders place orders quite frequently to book short-term gains while investors stay invested for longer durations to book long-term gains). Then, based on your frequency and other requirements (such as the need of a Relationship Manager, educational content etc.) you can list down the brokers and choose the best one for yourself. To cut-short this process, you can visit Select and choose the perfect broker for yourself by viewing and comparing the brokers and their features.

It’s understandable that you may be interested in saving on the brokerage and other charges while investing (or trading). Firstly, there are numerous types of charges that a broker charges. Lower brokerage charges are usually preferred by the traders while selecting a broker. On the other hand, investors prefer free equity delivery. So, the cheapest stock broker for you would be the one that provides all the services you need at the lowest prices. One thing that you need to be cautious about is the broker that you may perceive to be the cheapest, may not be the perfect one for you. So, you need to choose wisely.

All the brokers listed on Select offer mobile applications for trading. In order to choose the best trading app for yourself, you need to compare the apps based on their interface and performance reviews. Also, based on the segments you trade-in (as in commodities, F&O etc.) you can choose whether you need more advanced features in the application or just the one that’s easy to navigate. The definition of ‘Best’ here will vary according to your needs and therefore, you need to be sure of what you need and choose the trading app accordingly. Select helps you with the comparison of the features offered by various apps and helps you make a better choice.
 

Firstly, we wish that never happens with your broker. But, practically speaking you should be prepared for any such circumstance. You should be aware of certain conditions in case your stock broker fails:

- There is a settlement period of T+2 days in case of shares. This means that shares that you purchase will reflect in your demat account after 2 business days.

- Now, if the shares are already there in your demat account, you don’t need to worry because you can transfer your account to another broker (there’s a separate procedure for this that takes some time) with your holdings intact.

- But, if your transaction is still in the settlement period and the broker goes bust, you will lose your shares (or, it’s a rare case that they may be recovered).

- If you received leverage or margin by pledging your shares, then also you will lose them.

- Your wallet should not contain extra funds or balance because that balance is also lost if the broker fails.


Being aware and informed will help you at least minimise the loss if not curtail it completely.

The brokers listed on Select have been carefully chosen based on their reputation and reviews. So, the ones you see and compare on this site can surely be trusted. Besides this, the stock  brokers in India are registered with a depository (either CDSL or NSDL) and SEBI proactively monitors the activities of brokers.  So, the brokers can be trusted in general, but it is always better to go through their Broker reviews before investing with them.

Another way of looking at it is that you should never trust a broker blindly i.e. thorough research should be done before choosing a broker. Select will therefore make your job much easier by assisting you in comparing the brokers on various criteria. And, the one you choose after all this will most probably be the most trustworthy broker you can think of.

In normal circumstances, yes, the money is safe. However, if the broker fails all of a sudden and if you had added extra balance/funds to your broker’s wallet or account, then you may lose those funds. These funds may be recovered afterwards but that’s a rare scenario. So, instead of keeping extra funds with your broker and forgetting about it, you should avoid doing it and stay alert. SEBI is also there to monitor the brokerage firm’s activities and caveat you in case it finds something suspicious but being aware by yourself always helps.

First of all, keeping a lesser number of accounts is beneficial as it would avoid unwanted confusion. But, if you require multiple accounts, here’s what you should be aware of. Your demat account is linked to your PAN number and therefore, with one broker you can have only one account (at an individual level). However, you have multiple joint accounts with the same broker. You can also have multiple demat accounts with different stock brokers.

The stock market fluctuates quite frequently and the movement of the indices decides the course of the market. At the end of the day (when the market closes) a summary is issued by certain broker companies that highlight the key trends (industry-specific and company-specific) which is referred to as the market summary. On the other hand, trading calls and tips are crucial for the traders for placing orders in order to take advantage of price movement and are required during the market hours.  Most of the discount brokers do not provide trading or investing tips. However, most of them do provide a market summary.

Trading platforms provide useful insights to the traders with respect to their performance and help them in decision making as well by aiding them in research and analysis. Most of the brokerage firms that are trader-friendly provide advanced trading platforms. Some of them are cluttered with features and information, while some of them are neat and organized. Some offer terminal experience while others don’t, and in that too, some provide it for free while others charge for it. Best trading platform for you would be the one that suits your requirements. To choose the appropriate stock broker for yourself based on their trading platforms to visit this page.

The best stock broker in India for you would be the one that suits your needs. Some of them are trader-friendly while some of them are investor-friendly. There are numerous features based on which the brokers can be compared such as plans offered, brokerage charges, customer support and other services. A random ranking of stock brokers won’t help you. You should carefully choose the broker for yourself by comparing the stock brokers based on various criteria. And before that, you should be aware of what you really want from your broker. Select helps you with this by first registering your requirements and then providing you with appropriate suggestions.

Need help in Finding your broker?

If you opened a demat account by clicking on the banner marked 'Sponsored' from Select, it's possible that this particular promotion did not include freebies. Often, promotions may vary, and certain banners marked as 'Sponsored' might not offer the same incentives as others.