Top 10 online stock brokers in India

Here is the list of top online stockbrokers in India.

Few things that you should know before you start researching your stockbroker–

Intraday: When you buy and sell the share on the same day, then it is called intraday trading. Here the shares are not purchased for investing, but to get profits by harnessing the movement in the market.

Delivery: When you buy a share and hold it for more than one day, then it is called delivery. It doesn’t matter whether you sell it tomorrow, after 1 week, 6 months or 5 years. If you hold the stock for more than one day, then it is called delivery.

Quick Note: The brokerage charges are applicable on both sides on the transaction (i.e. while purchasing and selling stocks). Further, for many brokers- the brokerage charge is variable (between a specific range) which depends on your trading amount. 

Sharekhan
Full-Service Broker
Rs
0.50% (Delivery); 0.1% (Intraday)
Equities, Derivatives, Currency, Mutual Fund, Commodities, IPOs, PMS
Account Opening Charge - Rs 750 (Classic Account), Rs 1,000 (Trade Tiger Account)
Annual Maintenance Charge- Rs 441
Trading Platform- Tiger Trade
Pros- Brand Value, Consistently in top 3 list, Good offline presence
Cons- High account opening charge, 3-in-1 Account not available, After trading hours order not available
Remark- 6.5% Market Share, 1 Million Clients
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ICICI DIRECT
Full-Service Broker
Rs
0.55% (Delivery); 0.275% (Intraday)
Equities, Derivatives, Currency, Mutual Fund, IPOs, FD, Bonds, NCDs, ETFs
Account Opening Charge - Rs 975
Annual Maintenance Charge- Rs 600
Trading platform- Trade Racer (Executable File) on laptop, Trade Racer Web, ICICI Direct Mobile
Pros- 3-in-1 Account, Brand Value, Friendly Trade Platform
Cons- Mobile app poor performance, Complicated Brokerage Plan, High brokerage, Doesn't offer commodities trading
Remark- 3-in-1 Account, 2.6 Million Users
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HDFC Securites
Full-Service Broker
Rs
0.5% (Delivery); 0.1% (Intraday)
Equities, Currency, Mutual Fund, IPOs, ETFs, Bonds, FDs, Insurance
Account Opening Charge - Rs 999
Annual Maintenance Charge - Rs 750
Trading platform- HDFC SEC, BLINK (Terminal Based Application, 3000-4000 cost), Mobile Application
Pros- Speed and seamless transactions, Good Customer Services, Research Report & Recommendation, NRI Section
Cons- High Account opening charge, Premium Accounts
Remark- 3-in-1 Account, Full-Service Bank Based Broker
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Zerodha
Discount Broker
Rs
Zero (Delivery); Rs 20 or 0.01% whichever is lower (Intraday)
Equity, Derivatives, Currency, Mutual Funds & Commodities
Account Opening Charge - Rs 300 (Trading), Rs 100 (DEMAT)
Annual Maintenance Charge- Rs 300
Trading platform- Kite Web, Kite Mobile, Kite Connect API, Open Trade, Pi
Pros- Equity Delivery is FREE, Innovative, User Friendly
Cons- Software Malfunction, Not recommended for higher trading, No research report (market tips), No IPOs
Remark- Discount Brokerage, Free Educational app- Varsity
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Angel Broking
Full-Service Broker
Rs
0.128% to 0.4% (Delivery)0.0128% to 0.04% (Intraday)
Equity, Commodity, Currency, PMS, Life Insurance, ETFs, IPOs, Mutual Funds
Account Opening Charge - Rs 0
Annual Maintenance Charge - Rs 450
Trading app- Angel Broking Trade, Angel Booking App, Angel Speed Pro
Pros- Good Research Reports & market recommendation, Evolving Trading Platform
Cons- No Brokerage Calculator for Customer, No 3-in-1 account, Hidden Charges
Remarks- Present in 900+ Cities, 8500+ subbrokers
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Motilal Oswal
Full-Service Broker
Rs
0.5% (Delivery)
0.05% (Intraday)
Equity, Derivatives, Commodities, Currency, IPOs, Mutual Funds
Account Opening Charge - Rs 1000
Annual Maintenance Charge - Rs 400
Trading platform- Desktop Application, Mobile App, Smart Watch App, Motilal Oswal Trade
Pros- Wide range of investment choices, Brand Value, Provides daily/weekly reports across asset class
Cons- High charges, have to open both demat & trading a/c (can't use existing demat a/c)
Remark- Established in 1987
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IIFL
Full-Service Broker
Rs
0.5% (Delivery); 0.05% (Intraday)
Equity, Commodities, Currency, IPOs, Mutual Funds, FDs, Bonds
Account Opening - 750 (Trading A/c), 555 (DEMAT A/C)
Annual Maintenance Charge - Rs 300
Trading Platform- IIFT Trader Terminal, IIFT markets, IIFL Trader Terminal App
Pros- 4000+ branches in 900+ cities, offers Systematic Investment Plan in Equity, Commodity and Mutual Fund
Cons- Doesn't offers 3-in-1 account, SMS alerts at additional Rs 249 per month
Remark- Well-Known Neighbourhood broker North India
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5 Paisa
Discount Broker
Rs
10 Per executed order (Delivery, Intraday)
Equity, Currency, Insurance, Mutual Funds, Derivatives, IPOs, NFO, NCD
Account Opening Charge - Rs 650
Annual maintenance Charge - Rs 400
Trading Platform- 5Paisa Mobile App, 5Paisa Trade Station, Trader Terminal
Pros- Low Brokerage, Research tips, Decent Trading Platform, Free Trading Education
Cons- Average Customer Service, No Commodity trading
Remark- Earlier with IIFL got separated recently
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Trade Smart Online
Discount Broker
Rs
0.07% or ₹15 per trade (Delivery, Intraday)
Equity, F&O, Currency, Commodities, Depository Services
Account opening charges- Rs 500
Annual Maintenance charges- Rs 300
Trading Platform- NEST, SINE(Mobile App), NOW
Pros- Low Brokerage, No mim balance
Cons- Low Exposure, No IPO
Remark- No PMS, IPOs, Mutual Funds
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Kotak Securites
Full-Service Broker
kotak securities
Rs
0.49% (Delivery);
0.049 % (Intraday)
Equity, Derivatives, Mutual Funds, IPOs, ETFs, Currency, Tax-Free bond, PMS
Account Opening Charge - Rs 750
Annual Maintenance charge- Rs 600
Trading Platform- XTRALITE (web), KEAT PRO X (terminal application), Stock Trader(mobile app)
Pros- Wide offline presence, high performance platforms, 3-1 account
Cons- High Brokerage, Average Customer service
Remark- Brand Name, 360+ cities presence
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