Indian stock market is a colorful and fragmented space where there are numerous brokers available, both established and bussing, providing with varying multiple metrics such as customer base, trading platforms, company legacy, PAN India offline presence, Brokerage /Commission, market tips and so on. Indian shareholders are generally classified into three broad categories, Discount Stock Brokers, Conventional or Full-Service Brokers and Stock Brokers in India offering three-in-one accounts.
Discount stock brokers are a relatively recent trend in India since 2010; they offer solely basic trading facility with minimum cost. These include Zerodha, 5 Paisa, SAS Online, Tradejini and many more. Conventional brokers offer various support facilities like trading tips, stock research reports, professional guidance, and several other services which make their brokerage higher than the former mentioned. Some major Full-Service Indian brokers include Angel Broking, Motilal Oswal, Sharekhan and SMC online. Stock Brokers in India offering three-in-one accounts predominantly consists of prominent banks which provide a savings bank account along with a demat account and trading facility on NSE and BSE. The transfer of funds, in this case, would take place directly into your account and not into the broker’s like in the Full-Service brokers. Some examples of this would be ICICI Direct, Axis Direct, HDFC Securities, State Bank of India and Kotak securities.
Heeding the fact that the Indian financial market is always subject to change and a place of surprises, mentioned below is the countdown of Top 10 stock brokers in India which are likely to be a safe house of investment in the year 2019. The ranks are based on the National Stock Exchange reports of UCC activation list:
10) IIFL or India Infoline Limited– Founded in 1995, it is diversified financial services company with headquarters in Mumbai. Their segments are available both offline and online, on their innovative trading portal that is 5paisa.com. The company has an optimal research team and high performing trading portals but it lacks in its customer-focused services and mutual investment.
9) Karvy Stock Broking Limited- Founded in the year 1982, it is based in Hyderabad, Telangana. The company is a well-reputed broker agency which has gracefully adapted to the changing times, it started its segment solely offline initially but has launched an online trading and investment portal offering an extensive range of financial products and solutions across different classes in 2008.
8) Motilal Oswal Securities Limited- Established in 1987, it is one of the best performing equity brokers in India. Based in Mumbai, it has a network spanning over 520 cities.
7) Kotak Securities Limited Founded in 1994, it is the subsidiary of Kotak Mahindra Group which provides one of the top stockbroking and financial services in India. Based in Mumbai, it is also a corporate member of National Stock Exchange of India and Bombay Stock Exchange.
6) Angel Broking Private Limited- Established in the year 1987, this leading stock broking company provides a range of services including Equity Trading, Portfolio Management, Mutual Funds, IPO, Depository Services, and Investment Advisory etc.
5) Axis Securities Limited- A three-in-one account facility, incorporated in 2005 by Axis bank, led to the birth of this subsidiary. It provides with trading platforms like Direct Trade, Swift Trade Mobile Trading and Axis Direct Lite.
4) Sharekhan Limited- Founded in 2000, it is a rapidly growing stock broking company. Little features like well-spoken multilingual support executives to a range of services like online trading or stock broking make up its respect in the Indian financial market.
3) HDFC Securities Limited- Founded in the year 2000, they are the same benefactor as their competitors offering a three-in-one account. HDFC Securities Ltd has branches all Indian major cities and towns it facilitates factors like reliability, customer support, and trading platform.
2) ICICI Securities Limited- A three-in-one account facility as introduced by its parent back ICICI, they offer a web-based trading platform and a mobile app for iOS and Android platform.
1) Zerodha- Founded in the year 2010, headquartered in Bangalore, it is multiple award-winning stock broker. With an online discount segment, their brokerage structure is 80% less than any other firm which makes it the fastest growing company in the Indian Stock Market.