Top 5 Share Brokers in India: The Best Options for 2024

Are you new to the Indian stock market, or have you been trading for a while but still haven’t found the best online broker in India? Our list of the top 5 share brokers in India is here to help you make the best choice!

Let’s dive in and find the perfect broker for you!

Our list of 5 best brokers in India includes:

  1. Groww
  2. Shoonya by Finvasia
  3. Zerodha
  4. Upstox
  5. ICICIdirect

 

Groww

Groww is a user-friendly stock broker based in Bangalore. It offers flat-fee discount brokerage services for equities, IPOs, direct mutual funds, etc. Groww provides an easy way to invest in digital gold, US stocks, and fixed deposits. It is registered with SEBI, making it a trusted option among the top 5 share brokers in India.

Feature Details
Brokerage Charges Maximum of Rs 20 per trade or 0.05% (whichever is lower)
Account Opening No account opening fee
Trading Platform Web and mobile apps
Direct Mutual Funds Zero commission
Educational Resources Blogs and free eBooks for investment learning
Investment Options US stocks, digital gold, fixed deposits

Brokerage Charges by Trading Segment

Segment Charges
Equity Delivery Rs 20 per trade or 0.05%, whichever is lower
Equity Intraday Rs 20 per trade or 0.05%, whichever is lower
Equity F&O Rs 20 per trade

Shoonya by Finvasia

Holding the second position among the top five share brokers in India, Shoonya offers a zero-commission model. It is known for its commitment to transparency and cost-effectiveness. Get Started with the Zero Brokerage Demat Account

Shoonya allows you to trade across various assets seamlessly.

Feature Details
Zero Brokerage Commission-free trading across equities, futures, options, currencies, commodities, mutual funds, ETFs, and bonds.
Account Setup Free trading and Demat account opening, with no annual maintenance fees.
Advanced Tools Access to TradingView charts, order slicing, bracket orders, and option chains.
Multi-Platform Access Trade across desktop, web, and mobile (Android and iOS) seamlessly.

Pricing Overview

Charges Details
Account Opening Charges Free
Account Maintenance Charges Zero
Call & Trade Charges Free
Pledge/Unpledge Charges Rs 20 per request

Brokerage Charges by Trading Segment

Segment Charges
Equity Delivery Zero
Equity Intraday Zero
Equity Futures Zero
Equity Options Zero
Currency Futures Zero
Currency Options Zero
Commodity Futures Zero
Commodity Options Zero
ETFs Zero
Mutual Funds Zero
Stocks, Bonds, etc. Zero

Join the Best Trading App for Beginners!

Zerodha

Zerodha offers a wide range of services for investing in equities, currencies, commodities, IPOs, futures and options, bonds, government securities, and direct mutual funds.

Feature Details
Account Opening Charges Free for Trading & Demat accounts
Trading Account AMC Free
Demat Account AMC Rs 300 per year

Brokerage Charges (2024)

Segment Charges
Equity Delivery Rs 0 (Free)
Equity Intraday Flat Rs 20 or 0.03% (whichever is lower)
Equity Futures Flat Rs 20 or 0.03% (whichever is lower)
Equity Options Flat Rs 20
Currency Futures Flat Rs 20 or 0.03% (whichever is lower)
Currency Options Flat Rs 20 or 0.03% (whichever is lower)
Commodity Flat Rs 20 or 0.03% (whichever is lower)
Mutual Fund Rs 0 (Free Unlimited Direct MF)

Upstox 

Upstox offers competitive pricing and user-friendly trading platforms. It offers free account opening and a flat brokerage of Rs 20 per trade across various segments. The platform supports equity, commodity, and currency trading, making it a popular choice among traders.

Feature Details
Account Opening Free
Special Offer Flat Rs 20 per trade; no commission on mutual funds
Equity Delivery Brokerage Rs 20 per executed order or 2.5% (whichever is lower)
Equity Intraday Brokerage Rs 20 per executed order or 0.05% (whichever is lower)
Equity F&O Brokerage Rs 20 per executed order or 0.05% (whichever is lower)
Trading Platforms Upstox Pro Web and Mobile
Advanced Order Types AMO, CO, SL, GTT
NRI Accounts Not available

ICICIdirect 

ICICIdirect is currently ranked fifth among the top share brokers in India. They provide a range of trading and investment services, including equity, commodity, and currency trading on BSE, NSE, and MCX. One of their standout features is the 3-in-1 account, which seamlessly combines banking, trading, and demat services for a convenient user experience.

Feature Details
Account Opening Free
3-in-1 Account Combines ICICI Bank, Trading, and Demat Accounts for seamless transactions
Brokerage Plans ICICI Neo Plan, ICICI Prime Plan, I-Secure Plan, Prepaid Brokerage Plan
Neo Plan Brokerage-free Equity Futures trading; Flat Rs 20 per order for Intraday and Options
ICICI Prime Plan Plans: Rs 299, Rs 1,999, Rs 2,999; Discounted brokerage charges
I-Secure Plan Secured and fixed brokerage rates
Prepaid Brokerage Plan Discounted rates for upfront fees; Plans from Rs 5,000 to Rs 150,000
Trading Platforms ICICIdirect Website, Trade Racer (desktop terminal), ICICIdirect Mobile App
Demat AMC Rs 300 per year
Call & Trade Rs 50 per order
Special Offer Free account opening; 5-minute funds transfer from sell orders; free trading tips

Conclusion

Selecting the best broker can significantly help you in your overall trading experience. The brokers that have made their mark in our list of top 5 brokers in India—Groww, Shoonya by Finvasia, Zerodha, Upstox, and ICICIdirect—each offer unique features.

Whether you’re a beginner seeking a no brokerage trading app or an experienced investor looking for the best online broker in India, these options provide excellent choices for 2024. 

Remember, it’s important to consider your trading preferences and needs before making a decision. 

Happy trading!

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