Who Are The Top 10 Brokerage Firms in India to Earn More and Spend Less on Your Brokerage?

Who Are The Top 10 Brokerage Firms in India? If this is unanswered, you are losing a lot of money!

Over a period of 13 years of my full time as a trader, my favorites are a few. To name the top 10, I had to research a lot in the market.

I, at last, got to the full filtered honest review of leading brokerage firms in India.

See I’ve given the positions for the brokerage firms depending on my familiarity, user experience, trading software, ease of trade, and brokerage amount.

To be very honest, I am fully into day trading using technical analysis of stocks or indices.

I cannot comment on the delivery part. If you are an investor and looking for delivery brokerage, I’ve not given more stress on that. Just because I dunno much about that!

When someone asks me to talk about trading, I can talk the whole day. However, not much about investing 🙂

Trading is the passion and lifeblood of my day! So I can speak all day long!

Though I note down the delivery brokerage, it might not be just enough for an investor.

Without, further ado, let’s jump into understanding, who are the top 10 brokerage firms in India that are worth a mention.

 

I’ll take the opportunity to speak about the trading companies from 10 to 1 of my choice.

As I already mentioned 10 does not mean the worst, but it means less known to be user-friendly and affordable!

Many stalwarts even speak the #10 as one of the leading brokerage firms in India.

However, I personally don’t feel that; Hence the 10th position.

 

Who Are The Top 10 Brokerage Firms in India? Here we go:

10) ICICI Direct

ICICI Direct being a part of ICICI Securities is a leading brokerage firm spreading its aura from 1994.

Old school traders, do not want to shift their mindset to discount brokerages, coz of ICICI’s brand value. Also not to forget ICICI is a bank compared to other brokerage firms, which is governed by SEBI and RBI.

ICICI Direct is so popular in old-school traders as it’s virtually Risk-Free. Also ICICI, itself provides insurance, NCDs, FDs, Bonds, IPOs, Mutual Funds, RDs, Home loans, and loans against shares.

ICICI Direct offers good trading facilities for the customers, like trading software with an OKish, technical analysis. OKish brokerage and not bad ease of trade experience.

Brokerage Offered by ICICI Direct:

• Delivery Brokerage Amount: 0.15% – 0.25%
• Intraday/MIS Brokerage: Rs 15 per trade
• Futures/Options/Currency/Commodity Charges: Rs 20 per trade
• Margin Funding: 8.9%

 

9) Sharekhan

Sharekhan was the best brokerage firm when it started. They were the first few to launch the Zero Account Opening Charges in India.

From being acquired from BNP Paribas, they are now a part of big corporate with a corporate trading brokerage.

With the best-in-class trading software called Trade Tiger, they shook the way technical analysis can be done by jobbers.

Also, Sharekhan has a very good research team and gives quite good updates for traders and investors to invest.

Though all positives add up, it’s still in 9th position because of its brokerage, account opening charges, AMC and its backend support!

Oops did I mention account opening charges. Yep!!!

Sharekhan now charges account opening charges in 2 variants!

Classic Account and Trade Tiger Account. The first one costs ₹750 and the latter₹1000 per account opening.

Though, they were the first few to start the free account opening, their parent company’s corporate structure led to this change!

Also, they charge ₹350 from second year for AMC (Annual Maintenance Charges)

• Intraday Brokerage: 0.1% on both Buy Side and Sell Side.
• Delivery Brokerage: 0.5% on the Buy Side and Sell Side.
• Options Brokerage: Rs. 50 per lot or 2.5% on premium.
• Futures Brokerage: (MIS) – 0.1% on Buy, 0.02% on Sell Side. (NRML) – 0.1% on both sides.

 

8) HDFC Securities

HDFC Securities is a part of HDFC Banking Services. If you’ve got a salary account with HDFC Bank, Demat account opening is free. However, ₹350 annual AMC will be charged.

Though HDFC securities have an upper hand and brand value, switch outcastes others, it’s brokerage and not-so-friendly software to set pushes it down the lane.

HDFC securities has about 270 branches across the country. it is by no doubt, one of the best, leading brokerage firms in India.

HDFC securities offer mutual funds, home loans, ipos, insurance, FDs, and a lot more.

As well it is no doubt, one of the best brokerage firms, for it’s award-winning service.

• Intraday Brokerage: 0.07% – 0.32% depending on traded amount.
• Delivery Brokerage: 0.15% – 0.4% depending on traded amount.
• Account opening charges: ₹999/FREEwith Salary account.
• AMC: ₹750

 

7) Motilal Oswal

With a head start before the stalwarts in the industry in 1987. Motilal Oswal is a Brand of its sort.

Named after its founder duo, Motilal Oswal, Raamdeo Agrawal, it boasts of various goodies for its users.

Motilal Oswal has Mo Trader and Mo Investor Apps on all the leading app platforms.

With 20+ years of experience in the stockbroking industry, Motilal Oswal also provides its own Mutual funds.

Motilal Oswal also has a Zero AMC for a lifetime and a FREE Demat Account Opening along with ₹1000 Me-Gold! 

With over a 1.9 Million Subscriber base, Motilal Oswal sure finds a place in the top 10 brokerage firms in India!

• Intraday Brokerage – 0.05% on Buy Side and Sell Side.
• Delivery Brokerage – 0.5% on both the legs of the trade.
• Account Opening Charges – 0
• AMC for Lifetime – FREE

 

6) 5 Paisa

5 Paisa is a subsidiery of IIFL (India Infoline). With a requirement to compete with discount brokerages in India, IIFL started 5 Paisa to offer discount brokerages, unlike IIFL.

5 Paisa has reached out to lot of influencers in the industry to get clients for its broking firm.

5 Paisa offers decent trading software FREE for its traders to trade. 5 Paisa offers Trade Station based on IIFL’s trader terminal software for Desktop to trade.

Trade Station has lots of indicators and all the leading drawing options.

Account Charges and AMC Charges are waived off with Brokerage plan of ₹10,000.

Here’s a look at 5Paisa brokerage:

• Intraday Brokerage: 0.25% per trade.
• Intraday Brokerage: ₹20 per on the buy side and sell side.
• Futures Brokerage: ₹20 per trade
• Options Brokerage: ₹20 per buy and sell side
• Currency Futures Brokerage: ₹20 per trade
• Currency Options Brokerage: ₹20 per trade

 

5) Kotak Securities

Usually, I don’t like banks offering Demat accounts. However, Kotak securities have an edge over other banks.

Being a PSU Bank, Kotak Securities offers an attractive brokerage rate.

The head starts from 1994, Kotak Securities has over 400 branches across India.

Kotak Securities is a part of well known Bank Group Kotak Mahindra group, is guarded by RBI and SEBI.

With a customer base of 20 million+, Kotak Securities has gained, my soft spot as well.

It has a very decent trading software called KEAT PRO X. This software houses the best-in-class technical analysis indicators.

Brokerage rates: 

• Intraday Brokearge: ₹0.
• Delivery Brokerage: ₹0.
• Futures Brokerage: ₹20 per transaction.
• Options Brokerage: ₹20 per transaction.
• Account Opening: ₹0.
• AMC – ₹350

 

4) Upstox

Upstox previously known as RKSV, is one of the biggest discount brokers in India.

RKSV is backed by Ratan Tata group, Kalaari Capital, etc.

Though it’s open just in 2012, it’s the second leader in discount brokers in India wrt. user base, behind Zerodha!

I myself am a biggest fan of their trading software, Upstox Pro, I find it too user-friendly and modern!

Upstox Pro is the leading trading software platform available for trading with brokerages.

Brokerage Rates: 

• Intraday Brokerage: 0.05% or ₹20 per trade.
• Delivery Brokerage: ₹0
• Options Brokerage: 0.05% or ₹20 per trade.
• Mutual Funds Brokerage: ₹0
• Digital Gold Brokerage: ₹0
• Account Opening: ₹0
• AMC: 150

 

3) B.N.Rathi Securities:

Less known, but one of my best of the leading brokerage firms in India.

I love them personally because of their friendly call-to-trade option at no extra cost.

I know we have apps, but someone placing an order on your behalf is more friendly and a confirmation call on executed trade!

I really am looking forward to trading in delivery with them always.

B.N.Rathi Securities team is very good to answer any questions on call and very friendly.

They have algorithmic trading, Mutual Fund trading, and Web trading on their side.

They have a good research team and usually recommend stocks to their users.

Brokerage Rates: 

• Intraday Brokerage: 0.02% of traded value
• Delivery Brokerage: 0.2% of traded value
• Options Brokerage: ₹10 per order.
• Futures Brokerage: ₹10 per order
• Account Opening: ₹0
• AMC: ₹0

 

2) Zerodha

In our quest to find the best of who are the top 10 brokerage firms, we land to our 2nd Best Brokerage firm as per my analysis.

Zerodha is the leading discount brokerage firm in India. With over 5 Million + customers, Zerodha rocks the brokerage world.

Started in 2010 by clocking solutions to all the trading issues in the old platforms.

Zerodha was the first in India to partner with influencers in the trading world to increase their customer base.

It believes in one thing, which is to make the traders happy about their trading experience.

Though Zerodha makes a good user experience, its trading platform Kite is Bugsy. It hangs sometimes.

Zerodha has ₹300 AMC with account opening charges of ₹200. Usually, account is open on the same day.

Also margins on zerodha are the lowest in the class of brokerages.

Brokerage Rates: 

• Intraday Brokerage: ₹20 per trade
• Delivery Brokerage: ₹0
• Futures Brokerage: ₹20 per trade
• Options Brokerage: ₹20 per trade
• Mutual Funds Brokerage: ₹0

 

1) Trade Plus (Navia Markets)

With a headstart in 1997, Navia Markets Ltd. called as trade plus is one of my apt. favorites.

I know this is the least know to everyone in the industry. However, my experience is the best.

Every trader with technical analysis knowledge knows trading view is the best trading software.

With the launch of the Rocket trading platform based on trading view, now trade plus is the best in class brokerage in India.

Rocket is available on all leading app platforms to trade on any device.

Account Opening charges and AMC is zero for opening an account.

Brokerage Rates: 

• Intraday Brokerage: ₹9 per trade / ₹499 Unlimited tradings per month
• Delivery Brokerage: ₹0
• Futures Brokerage: ₹20 per trade / ₹499 Unlimited tradings per month
• Options Brokerage: ₹20 per trade / ₹99 Unlimited options trading
• Mutual Funds Brokerage: ₹0
• Account Opening: ₹0
• AMC: ₹0

 

With this article, I’ve spent a lot of time researching who are the top 10 brokerage firms. In case you find this article interesting and find value, please share it with your friends or colleagues who may get value from this article.

Knowing the leading brokerage firms in India, not only save you money but gives you the best user experience overall!

Love you all who ready so well, so far.

Happy Trading and Happy Money Making!