The new and old stock broker companies in India have been updating and stepping up their game in recent years. Regardless; today the market is dominated by different stock brokerage platforms that hold a great user base. Let us see some of the top 10 platforms that are making it to the news.
With more than 4 million customers, Zerodha accounts for 15% of daily retail trading volumes on Indian stock exchanges, making it one of the largest and finest stock broker companies in India.
With a no-brokerage model for investors and a flat Rs 20 per trade brokerage price for intraday and other trades, Zerodha, which launched in 2010, popularised the idea of discount brokerage in the Indian equity market. While it is challenging to compete with major firms like ICICI and HDFC, Zerodha has succeeded in maintaining its position as the nation’s top bargain broker. There are other discount broker competitors as well, but Zerodha has the largest customer base in India because it is the largest discount broker company in the country.
The top-ranked full-service stockbroker on the list is ICICI Direct, a division of ICICI Securities. It is armed by the ICICI Group, a major private financial services business that has been around since 1994. To be able to attract such a large number of active clients, the company relies on its high-quality, tailored services as well as the 3-in-1 account feature.
Prior to 2019, when the leading discount brokerage business Zerodha overtook ICICI Direct with a clientele of more than 2 million, ICICI Direct held the top spot in terms of active consumers. One of the most popular stock broker companies in India, however, is ICICI Direct.
With a significant online and offline presence and twenty years of operation, HDFC Securities Limited is a division of HDFC, the largest private-sector bank. One of the top full-service stock broker companies in India, the business is headquartered in Mumbai and has more than 270 offices and branches throughout the nation.
HDFC Securities Limited provides a wide range of stockbroking services in addition to the distribution of financial products. It is well known for its comprehensive services to a variety of individuals and professional traders with online as well as offline trading services. Customers of this brokerage firm can trade stocks, mutual funds, and commodities, and enjoy the advantages of trading and investing with a highly regarded broker.
Angel Brokerage, which was founded in 1987, is one of the largest stock broker companies in India with one million satisfied customers and +30 years of experience in the broking industry. In India, they are present in more than 1800 cities. Angel Broking provides trading services for currencies, commodities, equities, futures and options on the BSE, NSE, NCDEX, and MCX.
Despite operating for almost 30 years as a full-service broker and charging clients a percentage brokerage fee, Angel Broking To compete with fast-expanding cheap brokers like Zerodha, 5Paisa, Upstox, etc., they just altered their business model (Nov 2019) from percentage brokerage to flat fees.
The most affordable stock broker companies in India are provided by 5Paisa, a division of IIFL (India Infoline). In order to compete with the rapidly expanding discount broking market and provide a reduced brokerage platform for its customers, IIFL created 5Paisa.
In addition to trading in stocks, currencies, and commodities, 5Paisa also provides its services in mutual funds, insurance, and personal loans.
A number of notable investors, including Kalaari Capital, Ratan Tata, GVK Davix, and others, support Upstox, a rapidly expanding discount broker. It also goes by the name RKSV. Beginning as RKSV in 2012, Upstox changed its name to Upstox in 2015. Following Zerodha in terms of active clients as of January 2021, Upstox has the second-highest number.
Sharekhan has been one of the top stock broker companies in India with a customer base of over 2 million. The transition of Sharekhan from being a part of the SSKI Group to a BNP Paribas subsidiary had been alluring for both investors and dealers. Sharekhan.com, an online trading platform, was launched by it the first stockbroker in India.
The best investment platform offers a wide range of goods and services, including stock quotations, market-related news alerts, fundamental and analytical research reports on equity, investments in mutual funds, initial public offerings, and so forth. Investors and traders can choose the most suitable plan for their needs thanks to the customer-centric account types.
It is one of the most reputable stock brokers in India, with more than 20 years of trading and investment experience, a presence in more than 500 cities, and 2,200+ business locations. Mr. Motilal Oswal and Mr Ramdeo Agrawal, who rose from sub-brokers to pioneering business owners in the financial services sector, are two well-known names in the Indian stock market. They have focused on giving their clients high-quality stock recommendations based on research, and today they are major players and one of the biggest stock-broking firms in this sector.
They eventually ventured into a variety of new fields in addition to the broking industry, including private equity, investment banking, mutual funds, portfolio management, wealth management, and all the other services that a typical financial services provider would offer.
Kotak Securities Ltd., is a Kotak Mahindra Bank subsidiary that was established in 1994 and has operations in more than 360 cities. Kotak Securities Limited is recognised as being unorthodox when it comes to providing special services to its consumers. The company is ranked among the top five full-service brokers and is one of the few stockbrokers to offer a 3-in-1 account facility.
As a member of the renowned financial services provider The Kotak Mahindra Group, Kotak Securities and its group offers a wide range of clients located throughout India and the rest of the world with investment banking, distribution services, insurance products, and much more.
One of India’s investment platforms that are expanding the quickest is called Groww. Nextbillion Technology Private Limited, a stockbroker that is registered with SEBI and is a participant in the NSE and BSE, operates under the brand name “Groww.” Initially launched in 2016 as a platform for direct mutual fund investments, Groww is a Bangalore-based firm. Despite the epidemic, the corporation continued to offer equity trading to meet the increased demand.