Finding the right stockbroker in India is an important task in stock market trading. Whether you’re just starting out or considering a switch, picking the best broker for trading in India can undoubtedly impact your trading experience. To make stock trading easier, we’ve put together a list of the top 6 stock brokers in India for 2024.
To cater to seasoned clients and ensure a smooth trading experience across marketplaces, numerous firms provide sophisticated trading instruments. This blog will help you compare fees and services, guiding you towards the right choice. Let us begin!
Top 6 brokers in India for 2024
The top brokers in India in 2024 will supply traders and investors cutting-edge platforms, aggressive pricing, and trustworthy services. Zerodha is notable for its affordable trading fees and easy-to-use user interface. Upstox is well-known for its discount broking and technology-driven services. Shoonya stands out for providing strong research support and advisory services. Offering a wide range of financial products, ICICI Direct is a great option for investors seeking a full-service brokerage. Groww appeals to beginners because of its user-friendly interface and lack of account fees. For seasoned traders and long-term investors alike, Kotak Securities provides cutting-edge trading tools and research insights. Let us look into detail below.
Groww
Leading the list of the top 7 stock brokers in India is Groww. It offers a flat-fee discount brokerage for equities, IPOs, and direct mutual funds. Established in 2016, it initially focused on mutual funds. As of 2024, you can invest in equities, digital gold, US stocks, and fixed deposits. It’s known for its user-friendly platforms and educational resources.
Discover the benefits of a trading app with zero brokerage! Now, save money on every trade.
Brokerage Charges:
- Equity Delivery: Max Rs 20 or 0.05% per trade
- Equity Intraday & F&O: Rs 20 per trade
- Mutual Funds: Free
Shoonya
Shoonya also makes our top 6 stock brokers in India. It offers a lifetime free demat account. You can trade in equities, futures, options, and mutual funds. Shoonya is known for its user-friendly platform. You can trade anytime, anywhere on mobile, desktop, or its web app.
Brokerage Charges:
- ZERO – Equities, futures, options, currencies, commodities, mutual funds, ETFs, bonds, and IPOs.
Zerodha
Among the top 6 stock brokers in India, Zerodha is a standout.
Get started with a free demat account with no annual charges!
It offers a flat-fee discount brokerage model for various trading segments. Few of the notable ones include equities, currencies, commodities, IPOs, and mutual funds. It offers zero brokerage on equity delivery and mutual funds.
Zerodha Brokerage Charges 2024
- Equity Delivery: Free
- Equity Intraday: Flat Rs 20 or 0.03% (whichever is lower) per executed order
- Equity Futures: Flat Rs 20 or 0.03% (whichever is lower) per executed order
- Equity Options: Flat Rs 20 per executed order
- Currency Futures: Flat Rs 20 or 0.03% (whichever is lower) per executed order
- Currency Options: Flat Rs 20 or 0.03% (whichever is lower) per executed order
- Commodity: Flat Rs 20 or 0.03% (whichever is lower) per executed order
- Mutual Fund: Free (Unlimited Direct Mutual Funds)
Upstox
Upstox ranks highly among the top 6 stock brokers in India.
It offers a flat Rs 20 per trade across all segments. This basically includes equities, commodities, currencies, and F&O. Named among the best brokers in India, Upstox also provides advanced trading tools and platforms. However, it does not support unlimited monthly trading plans or 3-in-1 accounts.
Upstox Charges 2024
- Demat AMC: Rs 150 per year
- Equity Delivery Brokerage: Rs 20 per order or 2.5% (whichever is lower)
- Equity Intraday Brokerage: Rs 20 per order or 0.05% (whichever is lower)
- Equity Futures Brokerage: Rs 20 per order or 0.05% (whichever is lower)
- Equity Options Brokerage: Flat Rs 20 per order
- Currency Futures Brokerage: Rs 20 per order or 0.05% (whichever is lower)
- Currency Options Brokerage: Flat Rs 20 per order
- Commodity Futures Brokerage: Rs 20 per order or 0.05% (whichever is lower)
- Commodity Options Brokerage: Flat Rs 20 per order
ICICI direct
ICICIdirect is another key player in the top 6 stock brokers in India.
This stock broker offers comprehensive trading services, including equities, commodities, and mutual funds. It also features a 3-in-1 account integrating banking, trading, and demat accounts.
Demat Account Annual Maintenance Charges- Rs 300 per year
Demat Debit Transaction Charges for Sell Orders- Rs 20 per transaction
Call & Trade Charges- Rs 50 per order
Brokerage Charges:
- I-Secure Plan: Rs 35 per trade or 2.5% of the trade value, whichever is lower.
- Prime Plan & Prepaid Plan: Rs 25 per trade or 2.5% of the trade value, whichever is lower.
- Stocks Priced Less Than Rs 10: Flat Rs 0.05 (5 paise) per share.
Kotak Securities
Another one among the top 6 stock brokers in India is Kotal Securities. It provides equities, derivatives, and mutual funds with a prominent 3-in-1 account system. It also offers research services and an extensive physical presence across India.
Kotak Securities Brokerage Charges:
- Trade Free Plan:
- Intraday Brokerage: FREE (All segments).
- Carry Forward: Rs 20 per order.
- Dealer Assisted Brokerage Plan:
- Equity Delivery: 0.39%.
- Equity Intraday: 0.039%.
- Equity Futures: 0.039%.
- Equity Options: Rs 39 per lot.
- Currency Futures: Rs 9 per lot.
- Currency Options: Rs 5 per lot.
- Commodity Futures: 0.039%.
- Commodity Options: Rs 39 per lot.
Conclusion
Ultimately, a variety of services tailored to meet the needs of different investors are offered by the top brokers in India for 2024. Options like Zerodha, ICICI Direct, Shoonya, Upstox, Kotak Securities and Groww offer dependable platforms with competitive features, guaranteeing that investors can find the best fit for their financial objectives, regardless of their level of experience.
From zero brokerage on equity delivery to a lifetime free demat account, there’s a broker suited for every trading need. When choosing from the top 6 stock brokers in India, each option offers distinct advantages. You must do proper research before choosing the best online broker in India!