Stock Brokers List

Stock brokers play an important role between stock exchange and investors. Because in India investors can not trade directly in stock exchange without opening a trading account with stock broker and a demat account. Stock brokers helps to open both these accounts without any hassle. These are the basic requirement to get started in the share market.

Top Stock Broker's Market Share

ZERODHA has the highest market share with 17.42%, followed by UPSTOX (14.47%), GROWW (10.68%) ANGEL (10.15%) and ICICI (8.45%)

* Status as on : 31-Aug-2022

List of all share brokers with active clients

In India there are approx 300 stock brokers registered with NSE. Below is a complete list of all the stock broker in India registered with SEBI to provide services in NSE.

S.No. Broker Name Active Clients Complaints Ratio Resolved Ratio Status
1 ZERODHA ZERODHA BROKING LIMITED 6277434 0 97.97 %
2 UPSTOX RKSV SECURITIES INDIA PRIVATE LIMITED 5215523 0 95.41 %
3 GROWW NEXTBILLION TECHNOLOGY PRIVATE LIMITED 3847955 0 97.22 %
4 ANGEL ANGEL ONE LIMITED 3657550 0.03 % 95.85 %
5 ICICI ICICI SECURITIES LIMITED 3046191 0.01 % 94.12 %
6 5PAISA 5PAISA CAPITAL LIMITED 1754330 0.01 % 96.29 %
7 KOTAK KOTAK SECURITIES LTD. 1256001 0.03 % 88.8 %
8 HDFC HDFC SECURITIES LTD. 1141264 0.02 % 96.41 %
9 IIFL IIFL SECURITIES LIMITED 1132766 0.03 % 95.31 %
10 MOTILAL MOTILAL OSWAL FINANCIAL SERVICES LIMITED 896851 0.04 % 94.6 %
11 SHAREKHAN SHAREKHAN LTD. 764250 0.03 % 95.89 %
12 SBICAP SBICAP SECURITIES LIMITED 635384 0.03 % 92.4 %
13 AXIS AXIS SECURITIES LIMITED 422358 0.02 % 98.91 %
14 PAYTM PAYTM MONEY LTD. 404376 0.01 % 94.59 %
15 MARKETWOLF FNO INDIA SECURITIES PRIVATE LIMITED 262750 0 100 %
16 CHOICE CHOICE EQUITY BROKING PRIVATE LIMITED 253785 0.02 % 98.24 %
17 GEOJIT GEOJIT FINANCIAL SERVICES LIMITED 234546 0.01 % 95.12 %
18 EDELWEISS EDELWEISS BROKING LIMITED 193041 0.08 % 94.73 %
19 RELIGARE RELIGARE BROKING LIMITED 165416 0.03 % 95.31 %
20 SMC SMC GLOBAL SECURITIES LTD. 160010 0.05 % 96.7 %
21 ALICE ALICE BLUE FIN SVCS P LTD 149397 0.06 % 94.44 %
22 FISDOM FINWIZARD TECHNOLOGY PRIVATE LIMITED 141398 0 100 %
23 NIRMAL NIRMAL BANG SECURITIES PVT. LTD. 133686 0.03 % 94 %
24 MARWADI MARWADI SHARES AND FINANCE LIMITED 125410 0 87.5 %
25 FYERS FYERS SECURITIES PRIVATE LIMITED 124152 0.15 % 93.19 %
26 VENTURA VENTURA SECURITIES LTD. 123116 0.02 % 80.76 %
27 RELIANCE RELIANCE SECURITIES LIMITED 107201 0.06 % 94.11 %
28 ANAND ANAND RATHI SHARE AND STOCK BROKERS LIMI 104677 0.04 % 95.55 %
29 JAINAM JAINAM SHARE CONSULTANTS PRIVATE LIMITED 90587 0 77.77 %
30 JAINAM JAINAM BROKING LIMITED 89996 0.01 % 100 %
31 BAJAJ BAJAJ FINANCIAL SECURITIES LTD 85649 0 100 %
32 SAMCO SAMCO SECURITIES LIMITED 77730 0.06 % 97.91 %
33 BAJAJ BAJAJ FINANCIAL SECURITIES LIMITED 75038 0 100 %
34 NJ NJ INDIA INVEST PRIVATE LIMITED 74351 0 100 %
35 TRADEBULLS TRADEBULLS SECURITIES (P) LTD. 72975 0.08 % 96.77 %
36 PROFITMART PROFITMART SECURITIES PRIVATE LIMITED 70249 0.13 % 98.92 %
37 SWASTIKA SWASTIKA INVESTMART LIMITED 70202 0.08 % 94.82 %
38 ADITYA ADITYA BIRLA MONEY LIMITED 68292 0.08 % 94.82 %
39 IDBI IDBI CAPITAL MARKETS & SECURITIES LTD. 66639 0.05 % 97.43 %
40 DHANI DHANI STOCKS LIMITED 58918 0.16 % 98 %
41 MONARCH MONARCH NETWORTH CAPITAL LIMITED 58574 0.01 % 100 %
42 JM JM FINANCIAL SERVICES LIMITED 57737 0.02 % 100 %
43 SHCIL SHCIL SERVICES LIMITED 56011 0.03 % 100 %
44 MASTER MASTER CAPITAL SERVICES LIMITED 53867 0.03 % 100 %
45 BONANZA BONANZA PORTFOLIO LTD. 50601 0.02 % 86.66 %
46 GLOBE GLOBE CAPITAL MARKET LIMITED 47508 0.05 % 92.3 %
47 JHAVERI JHAVERI SECURITIES LIMITED 46011 0 100 %
48 INTEGRATED INTEGRATED ENTERPRISES (INDIA) PRIVATE L 45913 0.03 % 100 %
49 VNS VNS FINANCE & CAPITAL SERVICES LTD. 44826 0 100 %
50 SUSHIL SUSHIL FINANCIAL SERVICES PRIVATE LIMITE 44415 0 100 %

Above table is updated regularly with the updated data sourced from National Stock Exchange, India. This table is last updated on 31-Aug-2022

Who is a stock broker?

Brokers, alternatively referred to as trading members, play a critical role in the stock market. On behalf of their clients, they carry out operations including stock purchases and sales. A very minimal brokerage fees are charged in exchange for this service. They take care to settle payment to the exchange and transfer of shares in the stockholder's demat account. A stock broker must have registered to SEBI to provide brokerage services. Stock broker could be an individual or a company.

Two type of stock brokers

In India there are mainly two types of stock brokers: Full service brokers and discount brokers.

1. Full service broker

A full-service broker offers a broad range of services to his or her clients. The majority of full-service brokers have locations in major cities where customer care representatives may meet with customers personally. These brokers provide personalised help for investors with a range of diverse interests and degrees of competence through customised brokerage plans and services. Clients with sizable portfolios may even hire professional service managers to oversee their holdings.

2. Discount broker

The primary difference between discount and full-service brokers is the breadth of services they offer. Discount brokers execute customer buy and sell orders but do not provide any extra services. As a result, they also charge a significantly lesser commission. Due to the fact that they solely provide transactional services, businesses may not have a large number of physical locations. This helps them maintain minimal operational expenses. These brokers mostly operate via internet platforms.

Role of stock brokers

Stock brokers plays important role in the financial market system. The role of a stock broker is to provide the leverage and investment opportunity to the investor. They help investors in buying and selling shares. The broker facilitates transactions by providing a platform for trading shares on an exchange.

Leverage is a type of financial instrument that allows traders to take bigger positions than they could otherwise afford. The trader borrows money from the broker to execute their trade and then pays back the loan with interest over time. Below are some basic services which a stock provider provide to a trader or investor.

  • Stock brokers help to open a Demat account with the Depositories like NSDL or CSDL
  • They provide trading software to trade in stock exchange
  • Settle payments with the exchanges
  • Transfer shares or securities to or from Demat account
  • Stock brokers also provide leverage to buy more shares

History of the stockbrokers

In 1602, the Dutch East India Company began trading publicly on the Amsterdam Stock Exchange. The stock broker profession grew as a result of the Dutch Empire's indoctrination of private property rights.

The London Stock Exchange was founded around the end of the 17th century, while the New York Stock Exchange was founded almost a century later, in 1792. In 1875, India and Asia saw the establishment of their first stock market, the Bombay Stock Exchange.

How to choose the best stock broker?

Nowadays, all stockbrokers assert their reliability by virtue of being registered with the SEBI. However, just though they are registered with the SEBI does not guarantee their long-term viability. Numerous smaller brokers have been put out of business or have just declared bankruptcy.

Therefore, to prevent any inconvenience, clients should open a trading account with the best stockbrokers in the market. Above list show the brokers with most active clients show this could be a deciding factor to choose the growing stock broker.

Personal and financial requirements should guide you in selecting a best broker. When making your final decision, keep the following considerations in mind.

  1. Brokerage fees: Each stockbroker has a different brokerage cost. While discount brokers charge minimal fees, a full-service broker charges more but also provides a broader range of services. Prior to selecting a broker, compare the fees and services offered.
  2. Customer reviews:Check out what other people have to say about your product or service before making a purchase. You may learn a lot about a broker just by reading through the comments section.
  3. Check history: If a company has a history of poor performance, you should exercise caution. Conduct a thorough search of the various stockbrokers in India. Compare the performance with several broker agencies online, search for reviews and reports published by financial publications, and check for rankings.
  4. Collect feedback: Speak with relatives and friends who have invested with a specific broker and inquire about their experience. Even yet, remember that each person has their own unique perspective and tastes that influence the information they provide.
  5. In the above list we have provided the total active clients, Ratio of complaints received from the total clients, and how many complaints have been resolved. You can filter them to find your best stock broker.

    FAQs

    Why we need a stock broker or share broker?
    A stock broker help us in opening a Trading account and Demat account to buy / sell shares in th share market.
    Which is the largest stock broker?
    Currently Zerodha is the biggest and largest stock broker in India. It has the highest number of active clients followed by Upstox and Groww.
    Is it legal to open multiple accounts with different brokers?
    Yes, it is completely legal in India to open multiple demat and trading account as like the bank accounts.
    Should I choose discount broker or full service broker?
    It depends on your requirement. full service broker provide offline support through branches, financial advisories and other type of services whereas dicount broker only provide online support. But it is the age of internet, so dicount brokers are highly popular and more suitable as they provide lower brokerage. Thats why many full service brokers converting themselves to dicount broker or starting a separate service as a discount broker.
    Can we trade directly without giving brokerage to a stock broker?
    If this is the case, you'll need to sign up for the exchange as a trading member. It's best to use a broker if you don't have much volume to trade because the registration fee is so high.
Disclaimer :

Trading or investing involves a high level of risk, including the loss of all of your investment. No information on our website should be interpreted as an investment / trading suggestion. We are not providing any kind of financial tips or recommendations. We just provide the data that you can analyse yourself. You are solely responsible for any of your action.

We are not SEBI registered analysts. Our website or any person associated with our website are not liable for any kind of losses, fees or charges etc.

We have tried our best to keep the data accuracy, but still we don't guarantee that our data is accurate and up to date. Verify the accuracy of data from other reliable sources as like NSE and BSE websites.

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