Are you looking for a suitable share broker to begin your stock market trading journey? There are multiple online share brokers in India; however, selecting the most suitable broker that aligns with your trading preferences and requirements involves considering several factors. To assist you with a zero-brokerage demat account and cost-friendly trading, we have compiled a list of the top 5 share brokers in India, taking into account various criteria such as brokerage charges, trading products and services offered and more.
1. Groww
Securing the top position among the top 5 share brokers in India is Groww, established in 2016 by former Flipkart employees Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh. Groww has risen as a significant player in the country’s online discount broking with a vision to create an inclusive platform for investing. Groww holds registrations with SEBI as a stockbroker, depository participant, and investment adviser, along with memberships in NSE, BSE, MCX, and CDSL to ensure adherence to regulatory standards.
Key Features:
- Groww stands out among the best share brokers in India with its distinct offerings, including a nominal brokerage charge of Rs 20 per executed trade or 0.05% for Equity, Intraday, and F&O trades.
- The platform boasts a user-friendly trading app with 128-bit encryption, addressing the diverse investment needs of over 90 lakh users.
- Notably, Groww offers zero-commission direct mutual funds, hassle-free online account opening, and a wealth of educational resources, encompassing free eBooks and informative blogs.
Fees/Charges:
- The transparent approach ensures customers pay a maximum of Rs 20, regardless of trade quantity or amount.
- Additional charges include auto square-off fees of Rs 50 and other transaction, regulatory, and Demat charges.
- The platform does not impose charges for investing or redeeming mutual funds.
- Groww follows a fixed brokerage model, levying a flat Rs 20/ executed order for Equity Delivery, Intraday, and F&O trades.
Reasons to Choose Groww:
- Groww’s flat fee of Rs 20 per trade is an economical choice for investors.
- Emphasis on investor education is evident through free eBooks, blogs, and videos, empowering users to make informed decisions.
- The transparent fee structure ensures clarity for customers.
- With 128-bit encryption, Groww’s trading app provides a secure environment for investors to transact.
2. Shoonya
Shoonya by Finvasia proudly holds the second position among the top 5 share brokers in India, launched in 2013 as the country’s pioneer in enabling users to open a zero-brokerage demat account and trade commission-free. Developed by the well-known Finvasia Group, a global financial services firm established in 2009 by Sarvjeet Singh and Tajinder Singh, Shoonya reflects their vision of ushering in a new era of financial accessibility and innovation in the Indian market.
Key Features:
- Providing a zero brokerage demat account, Shoonya covers all trading segments, including stocks, mutual funds, bonds, ETFs, futures and options, currency, and commodities on major exchanges such as NSE, BSE, MCX, and NCDEX, all at zero brokerage.
- Shoonya revolutionises trading by offering a commission-free experience across various segments, including equity intraday, delivery, futures, options, currency, commodities, mutual funds, ETFs, bonds, and IPOs.
- The platform ensures a streamlined onboarding process with no charges for opening an account and zero annual maintenance fees, providing users with a hassle-free initiation into the trading journey.
- Advanced trading tools, encompassing TradingView charts, order slicing, bracket orders, basket orders, option chains, and more, elevate trading strategies on Shoonya.
- AI-powered insights provided by I Know First enhance trading experiences with stock price predictions and signals for up to 1,500 Indian scrips, offering daily top picks across long, mid, and short caps.
Fees/Charges:
Brokerage Plans by Shoonya from Finvasia: Transparent Pricing with No Hidden Costs,
- Equity Intraday and Delivery: Enjoy hassle-free investing with zero additional charges.
- Futures and Options: Trade in Futures & Options without incurring any brokerage fees.
- Currency and Commodities: Invest in various markets without worrying about fees.
- Mutual Funds: Access 3000+ Direct Commission-free Mutual Funds through SIP or lump sum without paying any brokerage.
- ETFs and Bonds: Optimize your portfolio without incurring any costs.
- IPOs: Participate in new offerings with no brokerage charges.
- Account Opening: No charges for opening Demat and Trading accounts.
- AMC (Annual Maintenance Charges): Annual maintenance of Demat and Trading Accounts comes at zero cost.
- Call and Trade: Place trades over the phone without incurring any charges.
- Hidden Charges: Experience transparent pricing with no hidden fees.
- Trading Platform: Seamlessly trade on a multi-asset platform with zero additional charges.
- Auto-squared-off Charges: Pay no extra fees on auto-squared-off trades.
- Volume Commitment: Trade as much or as little as you want without any commitments.
- Clearing Charges (NSE & BSE): Trade on NSE & BSE without incurring clearing fees.
- APIs and Algo Trading: Automate trading strategies with Shoonya Developers APIs at no cost – build, backtest, and execute across multiple assets for free.
- Upfront Charges: Begin trading with no initial fees or charges.
Details of Charges:
- Account Opening: Free
- Account Maintenance: Zero
- Plan Charges: Zero
- Call & Trade: Free
Reasons to Choose Shoonya:
- AI-powered market predictions from “I Know First” deliver daily data-driven insights and signals for the stock market.
- Risk management tools, including bracket orders and cover orders, safeguard investments, secure profits, and effectively manage positions, enhancing overall risk control.
- Investor-friendly offerings, such as zero account opening charges, lifetime zero brokerage across all segments, SIP options for stocks and ETFs, and the convenience of eDIS for seamless share selling.
3. Angel One
Securing the third position among the top 5 share brokers in India is Angel One, formerly known as Angel Broking, a prominent financial services provider in India established in 1987. Registered with SEBI, Angel One has a rich history in the brokerage industry, evolving to offer a variety of financial products and services.
Key Features:
- Angel One offers a user-friendly, fast, and secure trading platform equipped with all the essential features and tools necessary for effective trading and investing.
- The platform provides stocks, commodities, currencies, mutual funds, IPOs, bonds, etc.
Fees/Charges:
- Angel One follows a transparent pricing model with brokerage charges for various segments, including equity, commodity, FnO (Futures and Options), and currency trading.
- Brokerage charges range from flat Rs 0 for Equity Delivery to Rs 20 or 0.25% (whichever is lower) for Equity Intraday, Futures & Options, Currency, and Commodity trades.
Reasons to Choose Angel One:
- Angel One stands out for its user-friendly trading platform, providing a seamless experience for beginners and experienced traders.
- While not a zero-brokerage option, it offers a transparent fee structure.
4. Zerodha
Zerodha holds the impressive position of being the fourth among the top 5 brokers in India. Established in 2010, Zerodha is a pioneer in online discount broking with a bold vision from founders Nithin Kamath, Nikhil Kamath, and Dr. Kailash Nadh. Registered with SEBI, it holds memberships with NSE, BSE, MCX, and CDSL to ensure strict adherence to regulatory standards.
Key Features:
- Zero brokerage fees for Equity Delivery and Mutual Funds, with a maximum charge of Rs 20 per trade, ensure significant savings compared to traditional brokers.
- Providing up to 20x leverage on intraday trading, Zerodha caters to diverse investor profiles, from beginners to active and algo traders.
- A pioneer in zero-commission Direct Mutual Funds, Zerodha is an attractive choice for various investor types.
- Zerodha’s technological prowess is evident through its multiple platforms like Zerodha Kite, Coin, Varsity, Trading Q&A, Smallcase, Streak, Sensibull, GoldenPi, and Ditto.
Reasons to Choose Zerodha:
- Zerodha’s user-friendly interface caters to both beginners and experienced investors.
- Transparent fee structure, diverse investment options, and technological advancements contribute to its popularity.
Invest in stocks, mutual funds, FnO, currencies, commodities, etc, all at zero brokerage with the best online broker in India.
5. Upstox
Standing in fifth place on the list of top 5 share brokers in India is Upstox, starting its journey in 2011 with the aim of making trading in the Indian stock market easy and affordable. Operating under the regulation of SEBI, Upstox offers a comprehensive suite of products and services covering equity, commodity, futures and options (FnO), currency, IPOs, and more.
Key Features:
- Upstox stands out with its collection of distinctive features, including the user-friendly Upstox Pro trading platform.
- The platform covers a wide range of financial products and services for diversified investment portfolios.
Fees and Charges:
- Equity Delivery: Charge per Executed Order – Rs 20 or 2.5% of the transaction amount (whichever is lower).
- Equity F&O: Charge per Executed Order – Rs 20 or 0.05% of the transaction amount (whichever is lower).
- Currency Futures: Charge per Executed Order – Rs 20 or 0.05% of the transaction amount (whichever is lower).
- Commodity Futures: Charge per Executed Order – Rs 20 or 0.05% of the transaction amount (whichever is lower).
Other Charges (Upstox Broker Hidden Charges/Fees):
- Call & Trade: Rs 20 per executed order.
- Physical Contact Notes: Rs 25 per contract note plus courier charges (Digital contract notes are free).
- Instant Money Transfer Fee: Rs 7 per transfer.
Reasons to Choose Upstox:
- The Upstox Pro trading platform reflects the broker’s commitment to providing a technologically superior and user-friendly experience.
- Upstox offers a wide array of financial products and services for diversified investment portfolios.
In summary, these top 5 share brokers in India offer unique features and advantages, catering to the diverse needs of stock market investors in the country. A free demat account, multiple assets in one platform and brokerage-free trading are some of the most attractive factors for most of traders. However, before selecting the best share broker in India, it is a must to do proper research and also analyze your financial goals to ensure their fees and charges match your budget.
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