Top 20 Best Share Brokers In India
Table of content:
Stock investment is a technical process involving risks, requiring you to connect with the best stock broker in India for trading and investment-related support. This is where this article comes into play. Here, we provide a detailed list of the top 20 share brokers and top brokerage firms in India for 2022.
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Top 20 Share Brokers in India
Here is the list of best 20 share brokers in India:
1. ZERODHA:
Born in 2010 and operated through SEBI, Zerodha is India's first broker through boom and volume. Due to its loose offerings, it is one of the top brokerage firms in India.
Pros:
Coin, Console, GoldenPi, Small case, Streak, Varsity, Sentinel, Sensibull, and Kite are the set of gear supplied with the aid of using Zerodha.
Cons:
Zerodha no longer offers banking facilities, so the 3-in-1 buying and selling account is unavailable.
Fees:
GST: 18% of the overall brokerage cost + transaction charges.
SEBI charges: charged at ₹10/crore.
2. UPSTOX:
Upstox is licensed by the marketplace regulator Securities and Exchange Board of India (SEBI). It has alternate memberships with all the main Indian exchanges like NSE, MCX, and BSE.
Pros:
Upstox gives loose brokerage trading in the delivery of trades in the Equity segment.
Cons:
Margin Funding is unavailable on shipping trades.
Fees:
GST: 18% of the overall brokerage cost + transaction charges.
SEBI charges: charged at ₹ 5/crore.
3. GROWW:
Established in 2016, Groww began out as a mutual fund funding platform right away. In the mid-2020s, Groww extended its product offering to encompass Equity trading. It made its way to the top brokerage firms in the country.
Pros:
Simple pricing model. Flat Rs 20 consistent with exchange brokerage.
Cons:
Limited funding merchandise and no choice in trading commodity and cash segment.
Fees:
GST: 18% of the overall brokerage cost + transaction charges.
SEBI turnover charges: 0.0001%
4. ICICIDirect:
ICICIdirect is one of the biggest retail inventory agents in India. Its offerings consist of equity, commodity, and forex at BSE, NSE, and MCX.
Pros:
A 3-in-1 account combines banking, trading/broking, and Demat accounts. All accounts are from ICICI and thoroughly integrated.
Cons:
ICICIdirect brokerage is excessive and non-negotiable.
Fees:
GST: 18% of the overall brokerage cost + transaction charges.
SEBI turnover charges: 0.0001%
5. 5paisa.com:
5paisa.com is mainly an online stockbroker presenting cut-price brokerage offerings to retail traders in India. 5paisa online buying and selling is present in equity, commodity, and forex at BSE, NSE, and MCX.
Pros:
Flat 20 Rs/order regardless of trade size, exchange, or segment.
Cons:
Margin investment is given to the clients without prior notice. Such instances confuse, and clients pay hefty interest charges.
Fees:
GST: 18% of the overall brokerage cost + transaction charges.
SEBI turnover charges: 0.0001%
6. Kotak Securities:
Incorporated in 1994, Kotak Securities Ltd is a full-carrier inventory dealer providing 3-in-1 accounts to retail traders in India. It gives funding inequities, derivatives, and mutual funds. Thus, it is also considered a top brokerage firm.
Pros:
Low-value online cut-price brokerage plans are available.
Cons:
High Equity shipping brokerage charges.
Fees:
GST: 18% of the overall brokerage cost + transaction charges.
SEBI turnover charges: 0.0001%
7. HDFC Securities:
Incorporated in 2000, HDFC Securities is one of India's main full-carrier inventory agents. The enterprise lets its clients exchange and spend money on shares, bonds, futures, options, buybacks, mutual funds, IPOs, foreign money derivatives, commodities, inventory portfolios, etc.
Pros:
Excellent buying and selling platform for beginners.
Cons:
HDFC Sec brokerage may be very excessive and non-negotiable.
Fees:
GST: 18% of the overall brokerage cost + transaction charges.
SEBI turnover charges: Rs 5/crore
8. IIFL Securities:
Incorporated in 1995, IIFL Securities is one of the biggest full-carrier stockbrokers in India. IIFL is a well-identified logo for the finesse of its advice, customised service, and the usage of the latest technology.
Pros:
Full-carrier dealer with a community of branches throughout India.
Cons:
Equity shipping brokerage isn't unfastened, unlike Zerodha and different cut-price brokers.
Fees:
GST: 18% of the overall brokerage cost + transaction charges.
SEBI turnover charges: 0.0001%
9. Motilal Oswal:
Incorporated in 1987, Motilal Oswal Securities Ltd. (MOSL) is a Mumbai, India, totally varied economic offerings firm. The enterprise gives trading offerings in Equity, Commodity, Currency, and Derivatives. It additionally gives different services like Mutual Funds, IPOs, Gold, Insurance, and Fixed Income products.
Pros:
Complete Ease of Operation with greater than 60 banks for Fund Transfer.
Cons:
There are very high brokerage costs in evaluation with the bargain agents like Zerodha and 5paisa.
Fees:
GST: 18% of the overall brokerage cost + transaction charges.
SEBI turnover charges: Rs 10/crore
10. Sharekhan:
Incorporated in February 2000, Sharekhan is India's third-biggest inventory broker (after ICICI Direct and HDFC Securities). Sharekhan gives brokerage offerings via its online buying and selling internet site Sharekhan.com and 1800 workplaces throughout India.
Pros:
Sharekhan gives one of a kind buying and selling platform to suit client requirements.
Cons:
Sharekhan does not provide a 3-in-1 account as they do not offer banking offerings.
Fees:
GST: 18% of the overall brokerage cost + transaction charges.
SEBI turnover charges: Rs 10/crore
11. SBI Securities:
Founded in 2006, the company's offerings consist of Institution Equity, Retail Equity, Derivatives, Broking, Depository offerings, and Third Party Distribution products. They additionally offer online buying and selling offerings to investors & traders.
Pros:
SBI Securities provides a 3-in-1 account that gives seamless transactions among the Demat, Trading, and Bank Account.
Cons:
Very excessive brokerage in assessment to the net bargain inventory broker.
Fees:
GST: 18% of the overall brokerage cost + transaction charges.
SEBI turnover charges: Rs 10/crore
12. Paytm Money:
Incorporated in 2017, Paytm Money Limited (usually referred to as Paytm Money) is a Bengaluru primarily based cut-price broking firm. Paytm money is a wholly-owned subsidiary of India's biggest and main virtual items and cellular platform.
Pros:
Simple pricing version with lowest buying and selling prices and unfastened Equity Delivery buying and selling,
Cons:
No branch support.
Fees:
GST: 18% of the overall brokerage cost + transaction charges.
SEBI turnover charges: Rs 10/crore
13. AxisDirect:
Incorporated in 2005, Axis Securities Ltd is a part of Axis Bank, a non-public financial institution in India. Axis Sec is a full-carrier broker presenting inventory dealer offerings and distribution of economic merchandise to retail clients in India via its AxisDirect brand.
Pros:
Axis Direct gives a 3-in-1 account. This consists of Bank, Demat, and Trading Account.
Cons:
In contrast, very excessive brokerage cuts price inventory agents like Zerodha.
Fees:
GST: 18% of the overall brokerage cost + transaction charges.
SEBI turnover charges: Rs 10/crore
14. Nirmal Bang:
Incorporated in 1986, (Nirmal Bang) is among the pinnacle full-provider broker houses, providing buying and selling offerings in equities, derivatives, commodities, and currency. Stock buying and selling are obtainable to retail customers via a couple of channels, such as online buying and selling withinside the BSE and the NSE.
Pros:
Full-provider dealer with several offerings such as a broker, PMS, depository, and Mutual Funds.
Cons:
Nirmal Bang doesn't provide a 3-in-1 account.
Fees:
GST: 18% of the overall brokerage cost + transaction charges.
SEBI turnover charges: Rs 10/crore
15. Choice Broking:
Incorporated in 2010, Choice Broking gives online buying and selling and top-rate monetary offerings for various monetary merchandise like Equity, Derivatives, Currency, Commodities, Mutual Funds, wealth management, Portfolio management, Insurance, and Loan towards shares.
Pros:
Offers a huge variety of funding merchandise.
Cons:
No Flexi brokerage plans.
Fees:
GST: 18% of the overall brokerage cost + transaction charges.
SEBI turnover charges: Rs 10/crore
16. Geojit:
Incorporated in 1987, Geojit affords inventory buying and selling at NSE and BSE inventory exchanges via a robust community of around 500 branches and its online buying and selling portal.
Pros:
Geojit BNP Paribas has added a view-only 'terminal' that can provide real-time marketplace records from the company's gadget to the GPRS-enabled cell telephones of the company's client.
Cons:
The company does not provide three-in-1 buying and selling accounts like different famous stock brokers.
Fees:
GST: 18% of the overall brokerage cost + transaction charges.
SEBI turnover charges: Rs 10/crore
17. Edelweiss:
Incorporated in 2008, Edelweiss provides services to trade & invest in all primary asset classes: Equity, Debt, Mutual Funds, IPOs, Currency Derivatives, commodities, and Futures & Options.
Pros:
Flat Rs 10/executed order brokerage throughout the trading segments.
Cons:
Bracket orders and Good-Till canceled (GTC) orders are unavailable.
Fees:
GST: 18% of the overall brokerage cost + transaction charges.
SEBI turnover charges: Rs 10/crore
18. Religare:
Incorporated in 1986, Religare Securities gives retail broking, depository offerings, and associated funding offerings to clients positioned throughout India.
Pros:
Incorporated in 1986, Religare Securities gives retail broking, depository offerings, and associated funding offerings to clients positioned throughout India.
Cons:
Call and trade are charged at Rs 10 in step with performed order (most Rs 50 in step with day in a segment).
Fees:
GST: 18% of the overall brokerage cost + transaction charges.
SEBI turnover charges: Rs 10/crore
19. SMC Global:
Incorporated in 1994, SMC Global Limited is a main economic offerings business enterprise in India presenting offerings throughout brokerage, funding banking, and wealth management.
Pros:
Clients can place AMO (After Market Orders) and BTST (Buy Today, Sell Tomorrow) orders.
Cons:
Mobile buying and selling on NSE are unavailable.
Fees:
GST: 18% of the overall brokerage cost + transaction charges.
SEBI turnover charges: Rs 10/crore
20. Alice Blue:
Incorporated in 2006, Alice Blue is a bargain inventory dealer imparting inventory and commodity buying and selling offerings at BSE, NSE, and MCX. Alice Blue additionally gives depository provider (Demat account) via its CDSL membership.
Pros:
Equity Delivery buying and selling in Freedom (F15) plan is free. Pay max of Rs 15 for buying and selling in different segments.
Cons:
Alice Blue no longer gives full-provider brokerage offerings. They additionally stopped imparting limitless monthly/every year buying and selling plans.
Fees:
GST: 18% of the overall brokerage cost + transaction charges.
SEBI turnover charges: Rs 10/crore
Wrapping up:
In this article, you learn about the top brokerage firms, some of the best trading brokers in India, which broker is best for trading in India, their pros and cons, and the fee structure. I hope you understand and get the valuable information you need regarding this topic.
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