Before you choose a broker, it is very important to take a look at the top 5 stock brokers in India. The following top online brokers of the country offer its customers the most value for their portfolios. On the one hand, some of the Indian online stock brokers are known for their award winning customer service while the others are known for inexpensive stock trades or their powerful trading tools. Let’s take a look at the top 5 brokers in the country.
1. ICICI Direct: ICICI Direct is an online trading as well as investment platform of ICICI Securities. It provides a wide range of investment options to both the retail and institutional customers using their vast network of ICICI Bank and ICICI direct branches.
ICICI Direct is identified as the biggest stock broker in India. Going back to the year 2000, ICICI Direct was the first broker who introduced the concept of online brokerage in India and with ICICI bank to support the venture it soon became the market leader. The company has a good customer service and their software is also easy to use. But its brokerage is on the higher side of the scale and this fact has been impacting its customer base to some extent.
2. HDFC Bank: HDFC Securities is an Equity Trading Company of the HDFC Bank. This is one of the largest brokers in the country. The trading account of HDFC Securities provides the customers a unique 4-in-1 feature that integrates their HDFC Securities trading account with their existing HDFC bank savings account, Demat account, and the Investment account.
This is another full-service broker which is quite well-known. They also give a good integration with the bank account. However, their brokerage is on the high side too.
3. Karvy: Karvy is one of the lesser know brokers but it has one of the largest customer bases in the country. It is a no frills brokers that provide the customer’s access to communicate with someone. They have lots of office in India and they are one of the biggest players in Indian IPO market (primary market).
4. Zerodha: Zerodha is India’s first and largest online discount broker operating since the year 2009. This is one of the newest entrants in Indian broking market but with its surprisingly low brokerage it has taken over the market with a storm. It has a very competitive brokerage structure. Their whole work, right from account opening to account closing is done online.
The venture was first started by Mr. Nithin Kamath who was himself a trader before starting Zerodha. Besides the low brokerage, which most of the discount Brokers are known for, Zerodha is also credited for its technology initiatives which it first brought to the markets.
5. Sharekhan/Indiabulls: These are also two of the most well-known brokers in the country. They have been in the market for quite some time. They are somewhere in between a full-service broker and a discount broker. Being just stock brokers, they provide decent brokerage structure paired with a good customer service.
Hope the above information was helpful to you. Thank You!