Looking to invest in stocks? The first thing you are likely to search for is a stockbroker. This is because you can invest in the stock market through a stockbroker. Although this is mandatory, choosing the right stockbroker levels up the overall stock trading experience of traders or investors.
There are several stockbrokers available in the market that claim to provide outstanding services. Despite this, choosing the best stockbroker can be overwhelming for many. So, for your reference, we did a stock broker comparison and now highlight the top 5 stockbrokers in India.
1. HDFC Sky
Backed by HDFC Securities, HDFC Sky is counted among the most popular stockbrokers in India. It is the only bank-based stockbroker in India. The leading stockbroker allows free and easy Demat account opening and charges only Rs. 20 brokerage per order across all trade segments.
Some of the major features of HDFC Sky are:
- Zero AMC on the Demat account for 1st year
- Easy trading on BSE, NSE, and MCX
- Free Demat and Trading account opening
- Advanced stock trading mobile app
- Brokerage of Rs. 20/ order across all segments
- Easy access to basic and technical research
2. Zerodha
Another leading stockbroker on the list is Zerodha, a pioneering player in the industry. Zerodha started operations in 2010, and it was launched by Nitin Kamath, who started it after quitting his job. The leading stockbroker is known for its flat fee discount brokerage across Currency, Equity, Commodity, IPO, Futures & Options, Bonds, Government Securities, and Direct Mutual Funds.
The broker levies zero brokerage for equity delivery trading and flat Rs. 20/ per for other categories. Zerodha also features advanced charting tools that help investors study market trends and make sound investment decisions.
Its major features are:
- Advanced online charting tools
- Up to 20x leverage on intraday trading
- Maximum brokerage is capped at Rs. 20 per trade
- Safe, reliable, and trustworthy stockbroker
- Zero commission direct mutual funds
3. Groww
Groww is one of the fastest growing stockbrokers in India, especially among today’s investors. Started in 2016, Groww has come a long way by offering flat fee discount brokerage services in Equity, IPO, and Direct Mutual Funds.
The stockbroker charges a brokerage of Rs. 20 or 0.05% of the trade value, whichever is lower. The maximum brokerage levied is capped at Rs. 20 regardless of trade quantity or value. Groww mobile app is one of the top-rated apps on Google Play Store and App Store.
Its salient features are:
- Zero commission on direct mutual funds
- Quick and digital account opening
- Option to invest in Digital Gold, US Stocks, and Corporate FD
- Maximum brokerage is Rs. 20 per order
- Advanced mobile trading app
4. Upstox
Backed by Ratan Tata, Kalaari Capital, and GVK Davix, Upstox is a leading discount stockbroker in India, allowing investors to trade across different categories including equities, currency, commodities, futures, and options.
Upstox offers zero-cost account opening with a Demat account AMC of Rs. 150 per year. The stockbroker offers Upstox Pro, a cutting-edge trading platform that features a wide range of tools and features that help traders get the most out of their time and money.
- Straight Rs. 20 brokerage across all segments
- Availability of margin against shares
- Advanced order types
- Margin Trading Facility
- Thousands of mutual funds to choose from
- No software usage charges.
5. Angel One
Angle One is a fast-emerging stockbroker in the industry, primarily known for its next-gen features and investor-centric approach. The stockbroker offers an assortment of investment options, including stocks, derivatives, and initial public offerings (IPOs), meeting the multi-faceted needs of traders and investors. Angle One provides a Margin trading facility (MTF) and a user-friendly interface to open a Demat account and begin stock trading.
- No charges on NEFT/fund transfer
- Flat brokerage of Rs. 20 per trade order across different segments
- Free stock advisory
- Facility to call RM
- Margin Trading Facility
- Full-service brokerage services
The Conclusion
If you are looking for the best stockbroker in India, you can refer to the aforementioned stock broker comparison and choose the most reliable stockbroker for your trading and investment needs. Doing this would help you understand these stockbrokers deeply and make the right decision accordingly.
