Have you been wondering which stockbroker to choose to open a demat and trading account? To buy or sell a stock, you need a good stockbroker for ease of transactions and guidance in stock trading. In this article, we will discuss the best stock broker companies in India for stock trading.
1. Zerodha: You all would have heard this name and without any doubt, it is one of the most popular stockbrokers in India in terms of highest active clients. You can trade in equities, mutual funds, derivatives, sovereign gold bonds and even government securities through Zerodha. The charges of delivery trading are zero and for intraday and futures & options, they charge a fee of 0.03% or Rs. 20, whichever is lower.
2. ICICI Direct: They rank at the top when it comes to full-service brokers. They provide you with a 3-in-1 account( (Demat+Trading+Savings) with different variety of services. They have a huge number of products and services like insurance products, wealth management services, financial distribution products, FDs, etc. They also have different brokerage plans to choose from – ICICI Direct Prime, I-Secure, I-Saver, ICICI Direct NEO and Prepaid plans as well.
3. Upstox (RKSV): If we talk about trading, they are the best stockbrokers in India. Also, it offers high leverage to its customer, which is the most attractive point. Equity delivery trading is free with Upstox. It is 0.05% or up to Rs. 20 per order traded for intraday trading and F&O. The brokerage fee is only Rs. 20 per order traded, regardless of order size.
4. Angel Broking: It was a full-service broker that charged a percentage brokerage fee to its client. However, to stay and compete with other discount brokers, they have come up with flat brokerage rates. They offer a plan named, ‘Angel iTrade PRIME’ in which they charge you a flat brokerage rate. The fee for delivery trading is zero for all other segments, such as intraday, F&O, currencies, and commodities, they charge a flat rate of Rs. 20 per transaction.
5. 5 Paisa: They are part of India Infoline (IIFL) and are one of the top stockbrokers in India. Apart from equity or currency trading, you can also invest in mutual funds, insurance, commodities, etc. Delivery trades in Angel broking are not free, so for that, you can buy their monthly subscription plans. And for the rest of the segments like intraday and Equity and currency F&O, they have a flat brokerage of Rs. 20 per trade.
6. HDFC Securities: They are the topmost full-service brokers backed by the largest bank in India, i.e, HDFC Bank. The main advantage of HDFC Securities is that they provide you with a 3-in-1 account, various investing options, research reports, equity recommendations, investing in US stocks, and many more. They charge you 0.50% for equity delivery and 0.05% for equity intraday.
7. Motilal Oswal: They are well-known for providing their clients with high-quality research-based recommendations. They also assist you with a dedicated relationship manager to guide you throughout your investment journey. They also offer services in Portfolio management services (PMS), Gold investing, insurance, private equity, etc. They charge you 0.50% for equity delivery and 0.05% for equity intraday. They also offer you a smartwatch, and after wearing that you can get instant notifications.
Conclusion
Stockbrokers entice many investors through their various offers and low brokerage charges. But before choosing a broker, you need to also look for various other factors as well like hidden charges, complaint resolution, customer care service, etc.