Top share brokers

Top Stock Broker's Market Share

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.

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.