Indian stock market has emerged to become one of the biggest stock markets in the world. Amid this lockdown, many Indians have recognized the potential of our own stock market and many want to invest too. Investments are done through brokers.
Now, this has raised a big question “Which stock broker is best for investing in the Indian stock market?”
When you are looking for the best stock broker in India, one of the most straightforward factors is to look into its number of active clients. That doesn’t guarantee better service but somehow shows that the stockbroker is worthy.
Now after thorough analysis we choose 10 best stock brokers in India.
We analyzed past experiences of customers with their stockbrokers, their reviews, compared their brokerage charges, customer-focused services. Our ranking and selection of stockbrokers would be purely qualitative.
10 Best Stock Brokers In India
|Rank||Name||No. of active client (approx.)||User rating||Request Callback|
|2.||ICICI Direct ltd.||11,43,871||9.43||Open Account|
|3.||Upstox (RKSV)||10,23,985||9.22||Open Account|
|4.||Angel broking||8,59,763||9.00||Open Account|
|5.||HDFC Securities||7,74,190||8.89||Open Account|
|6.||Kotak Securities||6,38,807||8.76||Open Account|
|9.||Motilal Oswal||4,25,967||8.30||Open Account|
|10.||Axis Direct||3,13,670||8.19||Open Account|
We focused on selection based on quality rather than quantity as quality matters more.
Our analysis was based on no. of active clients, customer review, brokerage charges, customer care services, no. of complaints filed against brokers, no. of complaints resolved by the broker.
As the no. of brokers is increasing nowadays, competition among brokers has increased. Brokers are introducing competitive brokerage charges, so the majority of the well-known brokers have similar charges for trading. It’s just that the broker should be offering complete transparency. So the major thing to check while choosing the right broker is the customer based services they are providing.
You can check our Demat Account for Comparision between Top 3 Discount Stock Brokers in India.
This ranking is varies from time to time and will be updated when required.
Note: The data for this article is sourced from BSE and NSE stock exchanges and various trusted forums.