Introduction
Are you thinking of opening your demat or trading account? Feeling confused about which stockbroker to choose? Go through this article to know about top 10 stock brokers of India for opening your demat or trading account. But before you know about India’s top stock brokers, its important to have a brief idea on what stock brokers do?, different types of stock brokers etc.
What does a stock broker do?
A stock broker is a professional trader who works for their client. They are responsible for the operation of the trading account and deal with the selling and buying of different stocks. They are also called an investment advisor or a registered representative. In general, stock brokers are associated with broking firms in India for generating clients. In this article, we’ll discuss top 10 stock brokers in India.
In some cases, brokerage firms and broker-dealers are also called stockbrokers. In the brokerage firms, there are both full-service and discount brokers who implement trade and do not provide investment advice to other individuals. Mainly online brokers are considered discount brokers.
There are two different kinds of stock brokers
Full-service stock brokers
The stock brokers who offer full service to their clients. They offer services that customary stock brokers give along with the advisory on the share market. They charge their brokerage depending on the whole amount of the trade the client implements. Also, those full-time stockbrokers are experienced and established people with branches in multiple places.
Discount stock brokers
Their prevalence started after people used the internet excessively. Discount stock brokers offer you the benefit of the best online trading platform. They do not offer advisory services or any research facilities. They usually charge you less commission or a flat fee. They will give you a platform where you have to log in with the required credentials and then initiate trading. This is the fastest way of doing the services as everything is online.
What services do stock broker in India offers?
- They provide advice on what stocks to buy and sell and take good care of securities. They carry out proper research for the same and then offer recommendations.
- They manage all related paperwork, including the buying and selling of the stocks. In addition, they maintain a record of all transactions and statements.
- Stockbrokers are also responsible for managing the clients’ investment portfolios and regularly offering updates about their portfolios. In addition, they are responsible for giving answers to investment-related questions.
- They are responsible for informing the client about various investment opportunities in the stock market.
- They also make plans for clients to bring changes in investment strategies that rely on market conditions.
Thus, stockbrokers’ comfort and dependability have sparked an entirely new trend in the whole trading culture.
If you are planning to invest in stock market and searching for the best stock brokers, here are the top 10 stock brokers in India as per the number of active clients and market share.
Zerodha Broking Limited
It is one of the trustworthy platforms for trading and investment. The brokers allow you to do the transaction in a wide range of assets. Moreover, it offers some of the most convenient and perfectly aligned features in its interface that assist a trader in making planned moves during the live market. It is the market leader among top 10 stock brokers in India.
It is regulated by SEBI and is a debt-free company which means you can rely on Zerodha for both short-term and long-term tradings.
Upstox
The committed efforts and best work helped the broker reserve the second position in India’s list of top stock brokers. This technology-first brokerage firm is making some headlines for its best plans and prices.
It is one of the emerging names on the whole trading landscape for a fantastic range of features that are more sustaining in futures, day trading, and options. It has the second largest number of clients among the list of top 10 stock brokers in India.
Groww
A top broker in India that offers you the most affordable and highly convenient trading experience. It offers a trading platform where you will get easy ways to trade assets online. In addition, it offers easy-to-use features, an important metric for you to select Groww. In this platform, you can easily open the trading and the demat account free of cost. This discount broker is one of the most used platform by most of the investors / traders and therefore, the third largest among top 10 stock brokers in India.
Angel one
It is one of the full-service brokers mainly known for trading services at discount prices. Even though the trading charge and brokerage charge of Angel one and Upstox are the same, Angel one dropped in its position because of its interface, which is not so impressive. But with respect to technical features and responsiveness, this brand attains a better rank. It is listed in stock market. Due to its growth and marketing it is also popular in investors and fourth largest broker among top 10 stock brokers in India.
ICICI Direct
This is one of the trustworthy choices precisely because of its parent company. This broker’s range of offerings includes equity, mutual funds, fixed deposits, and many more. Because the parent company of ICICI direct has wide branches in the whole financial industry, you can also assess loans against investments made. Account opening is free, and brokerage charge is also free.
Paisa capital limited
It is one of India’s rapidly growing stock brokerage firms. It is the first Fintech listed and has been in business for seven years. It offers online trading as well as discount brokerage service.
Kotak Securities
People often trust brokers with a robust supportive parent company for support in a financial crisis. With over 25 years of experience in the financial sector, it assists brokers in winning trust. Moreover, it offers all one facility which means if you log in your details for your trading account, you will automatically receive access to demat accounts, bank accounts, and trading accounts. Moreover, it also charges fewer brokerage fees, and intraday is free.
HDFC securities limited
It has successfully carved a particular domain in India’s list of best stock brokers. It is one of the trustworthy brokers whom you can trust. This brand is the subsidiary of a famous HDFC Bank. With this, you can enter a wide range of investment sectors, including trading, mutual funds, and much more. In addition, its parent company offers other advantages through loans and other such financial services.
IIFL securities limited
It offers you the best trading platforms and regular customized portfolio analysis. It is one of the few brokers offering demat account services for CDSL and NSDL. A client who invests with IIFL can use proprietary TT EXE, TT web, and IIFL market applications for transactions. It is a leading broker with a high number of active users.
Motilal Oswal
It is one of the top brokers in India that provides you with a wide range of products like mutual funds, IPOs, Insurance, and Gold investment. It mainly deals with some of the less risky assets for which it is advisable for some big and risk-averse investors. All these brokers are very popular among among top 10 stock brokers in India.
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Conclusion
Now when you have a good idea of the top 10 stock brokers in India, it’s time to choose the stock brokers and start your investing / trading journey.
