Note: All prices and reports are based on end of the day (EOD) data.

Top share brokers

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

GROWW has the highest market share with 16.28%, followed by ANGEL (15.71%), UPSTOX (12.46%) ZERODHA (12.46%) and 5PAISA (3.76%)

* last updated : 30-Sep-2023 (clients data is as per the starting of the year)

List of all share brokers (DPs) with active clients

In India there are more than 300 Dipository Participants or stock brokers registered with SEBI. Checkout the list of all brokers eligible to open demat account and trading account for the retail investors.

S.No. Broker Name Active Clients DP ID Status
1 GROWW NEXTBILLION TECHNOLOGY PRIVATE LIMITED 14342888 88700 Active
2 ANGEL ANGEL ONE LIMITED 13837534 33200 Active
3 UPSTOX RKSV SECURITIES INDIA PRIVATE LIMITED 10974709 81800 Active
4 ZERODHA ZERODHA BROKING LIMITED 10972085 81600 Active
5 5PAISA 5PAISA CAPITAL LIMITED 3312983 82500 Active
6 ICICI ICICI SECURITIES LIMITED 3046191 No
7 MOTILAL MOTILAL OSWAL FINANCIAL SERVICES LIMITED 2894464 10900 Active
8 SBICAP SBICAP SECURITIES LIMITED 2569820 47200 Active
9 IIFL SECURITIES LIMITED 2201745 44700 Active
10 PAYTM MONEY LIMITED 1925677 88800 Active
11 KOTAK KOTAK SECURITIES LTD. 1256001 No
12 NJ NJ INDIA INVEST PRIVATE LIMITED 1225824 64200 Active
13 HDFC HDFC SECURITIES LTD. 1141264 No
14 HDFC SECURITIES LIMITED 1066725 86700 Active
15 RELIANCE RELIANCE SECURITIES LIMITED 971199 41400 Active
16 SHAREKHAN LIMITED 869459 36000 Active
17 SMC GLOBAL SECURITIES LIMITED - NEW DELH 850954 19101 Active
18 SHAREKHAN SHAREKHAN LTD. 764250 No
19 NUVAMA WEALTH AND INVESTMENT LIMITED 756648 32300 Active
20 SMC GLOBAL SECURITIES LIMITED 711118 19100 Active
21 DHANI DHANI STOCKS LIMITED 638056 29900 Active
22 AXIS AXIS SECURITIES LIMITED 592831 49200 Active
23 CHOICE CHOICE EQUITY BROKING PRIVATE LIMITED 589905 66900 Active
24 BAJAJ FINANCIAL SECURITIES LIMITED 562814 88600 Active
25 ICICI BANK LIMITED 514474 14300 Active
26 ANAND ANAND RATHI SHARE AND STOCK BROKERS LIMI 494032 10600 Active
27 ALICE BLUE FINANCIAL SERVICES PRIVATE LI 468199 85300 Active
28 HDFC BANK LIMITED 446714 12400 Active
29 FYERS FYERS SECURITIES PRIVATE LIMITED 411624 89400 Active
30 PAYTM PAYTM MONEY LTD. 404376 No
31 IIFL IIFL SECURITIES LIMITED 364863 14400 Active
32 MONEYLICIOUS MONEYLICIOUS SECURITIES PRIVATE LIMITED 317385 83400 Active
33 ADITYA ADITYA BIRLA MONEY LIMITED 304116 37600 Active
34 BONANZA PORTFOLIO LIMITED 275449 33500 Active
35 SAMCO SAMCO SECURITIES LIMITED 273761 54200 Active
36 MARKETWOLF FNO INDIA SECURITIES PRIVATE LIMITED 262750 No
37 FISDOM FINWIZARD TECHNOLOGY PRIVATE LIMITED 242520 92100 Active
38 ESPRESSO FINANCIAL SERVICES PRIVATE LIMI 239472 90000 Active
39 TRADEBULLS SECURITIES PRIVATE LIMITED 231008 70200 Active
40 SWASTIKA SWASTIKA INVESTMART LIMITED 210168 43700 Active
41 JAINAM JAINAM BROKING LIMITED 201238 41500 Active
42 EDELWEISS EDELWEISS BROKING LIMITED 193041 No
43 NIRMAL BANG SECURITIES PRIVATE LIMITED 191643 13300 Active
44 SHRIRAM SHRIRAM INSIGHT SHARE BROKERS LIMITED 177367 38400 Active
45 INDMONEY PRIVATE LIMITED 170360 95500 Active
46 VNS FINANCE & CAPITAL SERVICES LIMITED 167516 30400 Active
47 SMC SMC GLOBAL SECURITIES LTD. 160010 No
48 PROFITMART PROFITMART SECURITIES PRIVATE LIMITED 154697 83600 Active
49 ALICE ALICE BLUE FIN SVCS P LTD 149397 No
50 MONARCH MONARCH NETWORTH CAPITAL LIMITED 149128 35000 Active

This table is last updated on 30-Sep-2023. Clients data is not realtime, it is as per the starting of the year.

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.
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