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:
- Groww
- Shoonya by Finvasia
- Zerodha
- Upstox
- 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!