Top Stock Brokers in India 2019, Stock Brokers List with Brokerage Charges

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There are hundreds of brokerage firms in India, and without the right information in your hands, it would be super easy to go for the wrong one. The stockbroker you decide to go with will mean giving your hard-earned money and entrusting them to invest it in the right places and the right ways to make it grow.

To help you make the right decision, we have curated here a list of 10 best and more importantly, genuine stock brokers in the country that we’d like to recommend to you:

1. Sharekhan

Amongst some of the old stock brokerage firms in India, Sharekhan holds no less than 16 years of experience in the field. Having established itself in about 675 cities across the country, it has made available various trading platforms for all its clients.

One of the finest investment portals, sharekhan.com is a website well designed for its users to gain insight on share market news, investment options, stock quotes, research reports, as well as fundamental and statistical information on mutuals funds, equity, IPOs, and so on. With Sharekhan TradeTiger, retail investors get one of the finest trading terminals at their disposal. ShareMobile is a mobile application that offers its customers trading facility on their fingertips. To fulfil the varied customer requirements, there are different accounts available with these platforms, that include Sharekhan Tiger Trade Account, Sharekhan Classic Account, Sharekhan First Step Account, and so on.

Brokerage Charges 2019:
 Demat Account  NIL Then Maintenance Rs.400 / Year AMC
 Trading Account  Rs.750 - 1000 (One Time)
 Intraday Brokerage  0.10%
 Delivery Brokerage  0.50%
 Equity Futures  0.10%
 Equity Options  Rs.100 per Lot or 2.5% of Premium
 (whichever is higher)
 Currency Futures  0.10%
 Currency Options   Rs.30 per Lot or 2.5% of Premium
 (whichever is higher)


2. ICICIDirect

Considered one of the most trusted and genuine stockbrokers in the country, ICICIDirect is brought to us by ICICI Securities, a part of ICICI Group. With over 20 lakh customers who are being benefited by the online investment and trading services provided by ICICI Securities through ICICIDirect, this is the largest retail stockbroker firm we have in India right now.

ICICIDirect.com, a flagship website of ICICI Bank provides a list of investment products to its customers, that include Mutual Funds and IPO, Bonds, Fixed Deposits, Home Loans, Online Equity Trading, and so on. Their key offering for the retail stock market investors in India though remains to be the 3-in-1 account, that is ICICI Bank Account, Trading Account, as well as Demat Account, all combined.

Offering a really simple and extremely efficient way to invest in the market as well as other financial instruments, the customers have the option of more than 1500 ICICI Bank branches or even the ICICIDirect offices to get help or information on their various financial products, in person.

With respect to their ICICIDirect brokerage charges, they ask for a one-time payment of Rs. 975 as Trading Account opening charges, and Rs. 100 for Agreement Stamp Paper if you open a Demat Account. The Annual Maintenance charges for the Trading Account and for the first year of Demat Account (as part of a 3-in-1 account), is nil. The second year onwards, one has to pay Rs. 500 annually as the AMC for their Demat Account.

Brokerage Charges 2019:
 Demat Account  NIL Then Maintenance Rs.600 / Year AMC
 Trading Account  NIL
 Intraday Brokerage  0.125% to 0.375%
 (Vary as per Plan)
 Delivery Brokerage  0.25% to 0.75%
 (Vary as per Plan)
 Equity Futures  Rs.50
 Equity Options  Rs.35 - Rs.95
 Currency Futures  Rs.10
 Currency Options   Rs.10 - Rs.25
Other Brokerage Charges:
ICICIDirect charges a minimum of Rs 35 per trade or 2.5% of the trade value for brokerage, whichever is lower. They also charge a flat 5 paisa/share (that is, Rs 0.05) as brokerage on stocks which are priced less than Rs 10 per share.

3. HDFC Securities

HDFC Securities, that usually goes by the name HDFCsec is the HDFC Bank’s Equity Trading Company. Providing both online trading, as well as trading on the phone, its unique feature is known to be the 3-in-1 account they offer their customers which integrates their HDFCsec Trading Account with the existing Savings Account and Demat Account they have with HDFC Bank. It is the seamlessness, speed, and safety of transactions that have to lend HDFC Securities its rightful popularity.

With experience in the market that goes beyond 15 years, and with 200 or so branches across the nation, HDFC Securities is a brokerage firm in India, best known for the factual information they provide based upon the ongoing and upcoming stock market trends.

Brokerage Charges 2019:
 Demat Account  Rs.999 Then Maintenance Rs.750 / Year AMC
 NIL with 3 in 1 Account Opening
 Trading Account  NIL
 Intraday Brokerage  0.10% or Rs.25 or 2.5% on Transaction Value (Buy & Sell)
 Delivery Brokerage  0.50% or Rs.25 or 2.5% on Transaction Value (Buy & Sell)
 Equity Futures  0.05% or Rs.25 or 2.5% on Transaction Value (Buy & Sell)
 Equity Options  Higher of 1% of the premium amount or Rs.100 per lot (Both Buy & Sell)
 Currency Futures  Brokerage of Rs. 23/- per Contract on carry forward trades and Rs. 12/- each side on square up of trades
 Currency Options   Brokerage of Rs. 20/- per Contract on carry forward trades and Rs. 10/- each side on square up of trades

4. Zerodha

Zerodha was started in the year 2009, and it doesn’t only stand amongst the top genuine stock brokers in the country but is also widely known as one of the pioneers in when it comes to technology used for trading in India. They always had the vision to break every possible barrier that so many investors, traders, and a number of other aspiring money-makers face within India’s current economic scenario. In the past six years or so, this broking house has tried to keep its word, and steadily but surely grown with leaps and bounds. We see Zerodha as one of the main players in the NSE, BSE, MCX, as well as the MCX-SX with average daily turnovers that go over Rs. 5000 crores.

Started in 2009, Zerodha is officially recognized as India’s first and most prominent discount broker. It was founded by Nithin Kamath who had worked as a stock trader before starting his own broking house. Apart from bringing a competitive pricing model that made it the first of its kind, Zerodha is also acknowledged as a pioneer in technology for trading in India.

Brokerage Charges 2019:
 Demat Account  Rs.100 Then Maintenance Rs.300 / Year AMC
 Trading Account  Rs.300
 Intraday Brokerage  0.01% or Rs. 20/executed order whichever is lower
 Delivery Brokerage  Zero Brokerage
 Equity Futures  0.01% or Rs. 20/executed order whichever is lower
 Equity Options  Flat Rs. 20 per executed order
 Currency Futures  0.01% or Rs. 20/executed order whichever is lower
 Currency Options   0.01% or Rs. 20/executed order whichever is lower
When it comes to Zerodha, they charge a flat brokerage at the rate of 0.01% on every trade order. But, the brokerage per order should not be exceeding Rs. 20. Therefore, one can say that they charge a brokerage of lower of Rs. 20 or else 0.01% of the traded value to their customers.

Brokerage Plans:
These are the other statutory charges that under Zerodha plans, accompany the basic brokerage charges.

5. SBICAP Securities

SSL, that is SBICAP Securities Ltd. is a 100% subsidiary of none other than SBI Capital Markets Ltd. Some of the most popular services offered by them include Retail Equity, Derivatives,  e-Broking, Broking, Institution Equity, Depository Participant services, and so on. They are also known to provide online trading products to traders as well as investors.

It’s one of the highly renowned stockbrokers in India that allows the resident as well as Non-Resident Indians to invest in IPOs, Mutual Funds, Equity, and Derivatives via the digital channel. It is a robust trading engine that successfully powers the digital trading platform of SSL. 

Some of the more well-known features include a 3-in-1 trading experience with Trading, Demat, and Savings Account available in one go to customers. With their low-bandwidth option and a 24x7 back-office access, people can easily access or reach it anytime and anywhere. Plus, their Instant Fund and Share Transfer facility isn’t a bad thing either!

Moving on to Trading Brokerages, one has to pay either 5 paise per share or 0.15 % on both sides, whichever is higher, in the case of Intra-day Trades. For Delivery-based Trades, it’s either 5 paise per share or 0.5%, again whichever is higher. When it comes to Futures, you’ll have to pay 0.05% for Intraday and 0.09% for Carry Forward, or else a minimum of  5 paise per share depending on whichever is higher.

Brokerage Charges 2019:
 Demat Account  Rs.850 Then Maintenance Rs.500 / Year AMC
 Trading Account  NIL
 Intraday Brokerage  0.075%
 Delivery Brokerage  0.50%
 Equity Futures  0.03% to 0.05%
 Equity Options  Rs.50 - Rs.100 per lot
 Currency Futures  0.015% to 0.03%
 Currency Options   Rs.20 to Rs.30 per lot

6. Angel Broking

Angel Group was incorporated in 1987 and today it has established into one of the most genuine stock brokers and top retail broking houses in the country.

With services ranging from e-Broking, Portfolio Management, Commodities Trading, to Investment Advisory and Wealth Management, Angel Broking has made a mark in more than 900 Indian cities. Though they do not provide a 3-in-1 Account like many other broking firms, their single access to MCX, NCDEX, BSE, NSE, as well as all other market segments has played a huge role in making it into such a popular option.

Brokerage Charges 2019:
 Demat Account  NIL Then Maintenance Rs.450 / Year AMC
 Trading Account  NIL
 Intraday Brokerage  0.0128% to 0.04%
 Delivery Brokerage  0.128% to 0.40%
 Equity Futures  0.0128% to 0.04%
 Equity Options  Rs.15 to Rs.32 per lot
 Currency Futures  0.0096% to 0.03%
 Currency Options   Rs.12 to Rs.15 per lot

7. AxisDirect

Axis Bank Ltd. had its subsidiary Axis Securities incorporated in the year 2005 in order to offer broking services as well as distribute financial products to the retail customers in the country. Customers, through Axis Securities, can invest in Mutual Funds, IPOs, Equities, Bonds, Derivatives, NCDs, Company Fixed Deposits, ETFs, SIPs, in addition to getting Home Loans, Loans against Property, Auto Loans, Loans against Shares, Personal Loans, and so on. As of the year 2016, AXISDirect, a flagship brand of Axis Securities Ltd., with over 1.5 lakh active customers, has successfully established itself amongst the top 10 stock brokers in India. 

By offering the services of 3-in-1 Accounts (Trading, Savings, and Demat Accounts), AXISDirect has been able to make it very easy for beginners and seasoned investors alike to indulge in seamless stock market transactions.

Brokerage Charges 2019:
 Demat Account  NIL Then Maintenance Rs.650 / Year AMC
 Trading Account  NIL
 Intraday Brokerage  0.50%
 Delivery Brokerage  0.05%
 Equity Futures  0.05%
 Equity Options  Rs.0.01 to Rs.10 per lot
 Currency Futures  0.05%
 Currency Options   Rs.0.01 to Rs.10 per lot

8. Kotak Securities

Kotak Securities Ltd. is a subsidiary of Kotak Mahindra Bank and was founded in the year 1994. They distribute financial products in the country, as well as offer stockbroking services here. With 1209 branches, satellite offices, and franchises that offer services to more than 11 lakh customers nationwide, they have firmly established themselves as one of the biggest brokerage firms in India.

They let their investors open a Trading, Savings, as well as a Demat Account - either simultaneously as a part of 3-in-1 Account, or independently, depending on what the investor wishes. The customers through their Account with Kotak Securities can seamlessly trade in IPO, Equity, Mutual Fund, Tax-free Bonds, ETF, Gold ETF, Currency Derivatives, and so on.

Fixed Brokerage Plan
This is a plan created to especially cater to the needs of traders who are new to the concept, or do have experience though not much.

Dynamic Brokerage Plan
This plan has been created by Kotak Securities, keeping in mind more frequent traders who look to have a good bargain over their brokerage rates.

Free Intraday Trading Plan
Also known as the Unlimited Trading plan, it provides a way for Kotak Securities to offer its customers unlimited intraday equity trading, free of cost, across a variety of segments that include Equity Futures, Equity Options, and Equity Cash against a fee of Rs. 999 per year. That’s the reason why it also popularly goes by the name - Rs.999 Plan. It should be kept in mind that this plan is only available for Equity Intraday Trades.

Brokerage Charges 2019:
 Demat Account  Rs.750 Then Maintenance Rs.600 / Year AMC
 Trading Account  NIL
 Intraday Brokerage  0.49%
 Delivery Brokerage  0.049%
 Equity Futures  0.049%
 Equity Options  Rs.300
 Currency Futures  0.04% or Rs.20 per lot
 Currency Options   Rs.7.5 to Rs.20  per lot

9. Motilal Oswal

One of the best known stock brokers in India, Motilal Oswal brings a variety of products and services that include Investment Banking, Private Wealth Management, Commodity Brokering, Retail Broking and Distribution, Asset Management, Home Finance, Institutional Broking, Private Equity, and Currency Broking. The clientele of this brokerage firm generally includes retail customers, foreign institutional investors, customers with mutual funds, as well as other corporate and financial clients.

With more than 2000 employees working hard to have made their existing network that spreads over about 550 Indian cities and towns, comprising of thousands of business locations as well as their business partners, it’s not really surprising to see how Motilal Oswal boasts of a steadily growing customer base that has already reached approximately 8.5 lakh people. 

Brokerage Charges 2019:
 Demat Account  NIL Then Maintenance Rs.299 / Year AMC
 Trading Account  NIL
 Intraday Brokerage  0.05%
 Delivery Brokerage  0.50%
 Equity Futures  0.05%
 Equity Options  Rs.75 per lot
 Currency Futures  Rs.20 per lot
 Currency Options   Rs.20 per lot

10. 5Paisa

Based out of Mumbai, and with more than decade long experience in the field, 5Paisa is counted amongst the best known brokerage firms in India. While it only has its physical presence in Mumbai as of now it does assist its customers over calls, primarily, and is people are happy with the services. The future plans of 5Paisa includes commencing trading in commodities, offer its customers personal loans, as well as fund products such as NCDs, IPO, and so on. 

It’s been recorded by the Discount broker that their daily turnover come out to be Rs. 1200 crores, that mainly comes from equity trading, while a tiny part, may be one per cent or so, looks like it’s towards currency. Most of its customers, about 60%, are from Tier II and III cities, and their whole customer base has been witnessing a cent percent growth when you compare it to quarter over quarter. 

Brokerage Charges 2019:
 Demat Account  Rs.650 Then Maintenance Rs.400 / Year AMC
 Trading Account  NIL
 Intraday Brokerage  Rs.10 per order
 Delivery Brokerage  Rs.10 per order
 Equity Futures  Rs.10 per order
 Equity Options  Rs.10 per order
 Currency Futures  Rs.10 per order
 Currency Options   Rs.10 per order

Note: Above given details might vary as per the stock brokers give offers to new demat account openers. So anyone have any issues about the charges and what to know more about the stock brokers brokerage details please contact the stock brokerage firm branches near by you.

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