Looking for the best broker for trading in India? Compare the top stock brokers, brokerage charges, trading platforms, features, pros and cons before opening your demat and trading account.
Updated: September 2026Best Broker for Trading in India
Choosing the best broker for trading in India is an important decision for both beginners and experienced market participants. Your broker provides the trading platform through which you can buy and sell shares, ETFs, futures, options and other securities.
Brokerage is important, but it should not be the only factor you consider. Trading-platform quality, order types, charting, research, customer support, account maintenance charges, demat charges and the overall user experience can also affect your choice.
A long-term investor may prefer a broker with low delivery-related costs, while an active trader may place more importance on charting, order execution and derivatives tools.
The comparison below focuses on major Indian brokers and their commonly advertised pricing structures. Brokerage plans and statutory charges can change, so investors should always verify the latest tariff directly with the broker before opening an account or placing a trade.
Top 10 Stock Brokers in India – Comparison
The following table provides a quick comparison of major brokers by active-client scale and commonly available pricing structures.
| Broker | Approx. Active Clients* | Broker Type | Equity Delivery | Trading / Intraday | AMC |
|---|---|---|---|---|---|
| Groww | 1.33 Cr | Discount | Plan dependent | Plan dependent | Plan dependent |
| Zerodha | 67.97 Lakh | Discount | ₹0 | ₹20 or 0.03%, whichever is lower | ₹300/year |
| Angel One | 67.19 Lakh | Discount | Plan dependent | Up to ₹20/order | Plan dependent |
| ICICI Direct | 21.56 Lakh | Full Service | Plan dependent | Plan dependent | Plan dependent |
| Upstox | 18.65 Lakh | Discount | Up to ₹20/order | ₹20 or 0.1%, whichever is lower | Plan dependent |
| Kotak Securities | 13.92 Lakh | Full Service | Plan dependent | From applicable plan | Plan dependent |
| HDFC Securities | 13.51 Lakh | Full Service | Plan dependent | Plan dependent | Plan dependent |
| Dhan | 11.07 Lakh | Discount | ₹0 | ₹20 or 0.03%, whichever is lower | ₹0* |
| SBI Securities | 10.44 Lakh | Full Service | Plan dependent | Plan dependent | Plan dependent |
| Motilal Oswal | 9.06 Lakh | Full Service | Plan dependent | ₹20* | Plan dependent |
Groww
Large digital investing platformGroww has become one of India’s largest digital investment platforms by active clients. It is particularly known for its simple user interface and easy onboarding experience.
The platform provides access to stocks, mutual funds, ETFs, IPOs and derivatives, making it possible for users to manage several types of investments through one account.
Key Features
✓ Pros
- Simple interface
- Large active customer base
- Easy digital onboarding
- Stocks, mutual funds and IPOs
✕ Cons
- Advanced traders should compare specialist tools
- Pricing depends on product and applicable plan
- Traditional advisory services may be limited compared with full-service models
Zerodha
Technology-focused discount brokerZerodha is one of India’s most established discount brokers. Its Kite platform is widely used by self-directed investors and traders.
Zerodha also provides educational resources through Varsity and mutual-fund investing through Coin.
Key Features
Brokerage
Zerodha’s standard pricing structure includes ₹0 brokerage for equity delivery and a charge of ₹20 or 0.03% per executed order for intraday and other applicable segments, whichever is lower. AMC can apply to the demat account.
✓ Pros
- Strong trading platform
- ₹0 equity-delivery brokerage
- Extensive educational resources
- Advanced charting
✕ Cons
- AMC applies under standard account structure
- Primarily self-directed investing
- Beginners may need time to learn advanced tools
Angel One
Digital broker with research and trading toolsAngel One is one of India’s major retail brokers and has a large active-client base. The company combines digital trading tools with research and a broad selection of investment products.
Key Features
✓ Pros
- Large customer base
- Broad product range
- Research tools
- Digital account opening
✕ Cons
- Pricing depends on applicable plan
- Investors should check complete transaction costs
- Interface preference varies between users
ICICI Direct
Full-service broker and banking ecosystemICICI Direct is one of India’s established full-service brokerage platforms. One of its key characteristics is its integration with the wider ICICI financial ecosystem.
Key Features
- Equity trading
- Intraday trading
- Futures and options
- Mutual funds
- IPO applications
- Research
- Banking integration
✓ Pros
- Integrated financial ecosystem
- Research resources
- Wide range of products
- Banking integration
✕ Cons
- Brokerage depends on selected plan
- Pricing can be more complex
- May not suit investors seeking only flat-fee pricing
Upstox
Digital trading and investment platformUpstox is a major Indian discount broker focused on digital trading and investment services. The platform provides access to equities, futures, options, commodities, currencies, mutual funds and IPOs.
Upstox Brokerage Charges
Upstox currently lists equity delivery brokerage at up to ₹20 per executed order. For equity intraday, the listed charge is ₹20 per executed order or 0.1%, whichever is lower.
Equity futures are listed at ₹20 per executed order or 0.05%, whichever is lower, while equity options are listed at a flat ₹20 per executed order.
Mutual funds and IPOs have ₹0 brokerage according to the applicable Upstox pricing information. Other statutory and transaction charges can apply.
Key Features
✓ Pros
- Modern digital trading platform
- TradingView charting
- Multiple trading segments
- IPO and mutual-fund investing
- API capabilities
✕ Cons
- Equity delivery brokerage can apply
- Statutory charges are additional
- Some services may carry separate charges
Open an Upstox Account
If you are looking for a digital trading platform with stocks, IPOs, mutual funds, futures, options and charting tools, you can explore Upstox and check whether its current pricing and features match your requirements.
Open Upstox Account →Disclosure: This is a referral link. Any referral benefit or promotional offer is subject to Upstox’s applicable eligibility criteria and terms.
Kotak Securities
Full-service brokerage platformKotak Securities provides online trading and investment services as part of the wider Kotak financial ecosystem. Investors can access equities, derivatives, IPOs, mutual funds and other financial products.
Pros
- Banking ecosystem
- Research resources
- Wide range of financial products
- Online trading facilities
Cons
- Pricing depends on the applicable plan
- Full-service pricing can be more complex
- Active traders should compare complete transaction costs
HDFC Securities
Bank-linked full-service brokerHDFC Securities provides online trading, investment products and research services and is associated with the HDFC financial ecosystem.
Key Features
- Equity trading
- Intraday
- Futures and options
- Mutual funds
- IPO applications
- Research
- Banking integration
✓ Pros
- Strong banking ecosystem
- Research resources
- Multiple investment products
- Online and assisted services
✕ Cons
- Pricing can vary by plan
- Active traders should compare brokerage carefully
- Some investors may prefer discount-broker pricing
Dhan
Trading-focused digital brokerDhan has built a strong presence among active traders by focusing on trading technology, derivatives and advanced market-analysis tools.
Key Features
✓ Pros
- Trading-focused platform
- Options tools
- Advanced charting
- API capabilities
- Competitive pricing structure
✕ Cons
- Advanced features may be unnecessary for beginners
- F&O carries significant market risk
- Pricing should be checked for each product
SBI Securities
SBI-linked investment platformSBI Securities is associated with the State Bank of India ecosystem and provides online investment and trading services.
Key Features
- Equity trading
- Intraday trading
- Futures and options
- IPO applications
- Mutual funds
- Research
- Banking integration
✓ Pros
- SBI ecosystem
- Large banking network
- Multiple investment products
- Traditional support infrastructure
✕ Cons
- Compare pricing with discount brokers
- Trading platform preferences vary
- Current brokerage should be checked before trading
Motilal Oswal
Research and full-service financial platformMotilal Oswal Financial Services is an established Indian financial-services company offering brokerage, research, wealth-management and other investment services.
Key Features
- Equity trading
- Intraday trading
- Futures and options
- Mutual funds
- IPO applications
- Research reports
- Wealth-management services
✓ Pros
- Established financial-services brand
- Research capabilities
- Broad product range
- Wealth-management services
✕ Cons
- Full-service pricing can be higher
- Brokerage depends on the applicable plan
- Some investors may not need advisory services
Brokerage Charges You Should Check
Brokerage is only one component of the total cost of trading. Investors should understand the complete charge structure before selecting a broker.
- Equity Delivery Brokerage: Important for investors who hold shares for the long term.
- Intraday Brokerage: Important for frequent buyers and sellers.
- Futures Brokerage: Check the per-order or percentage-based charge.
- Options Brokerage: Compare the per-order cost carefully.
- AMC: Check annual demat-account maintenance charges.
- DP Charges: These can apply when securities are sold or transferred.
- Call & Trade: Dealer-assisted orders can attract additional charges.
- Statutory Charges: STT, GST, stamp duty, exchange charges and SEBI charges may apply.
Discount Broker vs Full-Service Broker
Indian investors generally encounter two broad brokerage models: discount brokers and full-service brokers.
Discount Brokers
Discount brokers generally focus on online trading technology and competitive brokerage. Examples include Groww, Zerodha, Upstox, Dhan and Angel One.
Full-Service Brokers
Full-service brokers generally provide a wider range of services, potentially including research, advisory services, relationship management and banking integration.
Examples include ICICI Direct, HDFC Securities, Kotak Securities, SBI Securities and Motilal Oswal.
How to Choose the Best Broker for Trading in India
Instead of choosing a broker only because it has a large customer base, consider how frequently you trade and which products you use.
Is the Broker With the Most Clients the Best?
Not necessarily. Active-client numbers show the scale of a brokerage platform, but they do not establish that a broker is suitable for every investor.
For example, a long-term investor may place greater importance on delivery-related costs and demat charges, while an options trader may place more importance on charting, order types and derivatives tools.
Therefore, use customer numbers as one piece of information rather than the only reason for choosing a broker.
Which Broker Should You Compare?
- Simple investing: Groww, Zerodha and Angel One
- Technology-focused trading: Zerodha, Upstox and Dhan
- Active trading: Zerodha, Dhan, Upstox and Angel One
- Banking integration: ICICI Direct, HDFC Securities, Kotak Securities and SBI Securities
- Research-focused services: Motilal Oswal, ICICI Direct and Angel One
Frequently Asked Questions
Which is the best broker for trading in India?
There is no single broker that is best for everyone. Compare brokerage, AMC, platform features, research, customer support and the products you intend to trade.
Which broker has the most active clients?
August 2026 NSE-based figures place Groww at approximately 1.33 crore active clients, followed by Zerodha and Angel One. Active-client numbers can change every month.
Is Zerodha better than Groww?
The two platforms have different strengths. Zerodha is known for its Kite trading platform and educational ecosystem, while Groww has focused heavily on a simple investing experience. Compare the features relevant to your needs.
Is Upstox good for trading?
Upstox offers stocks, futures, options, commodities, currencies, IPOs and mutual funds along with digital trading and charting tools. Investors should check its latest charges and features before opening an account.
Is Upstox account opening free?
Upstox’s current terms and pricing should be checked at the time of account opening because account-opening promotions, AMC conditions and other charges can change.
Which broker is suitable for beginners?
Beginners generally benefit from a simple platform, transparent pricing, educational resources and easy portfolio management. Groww, Zerodha and Angel One are among the platforms that can be compared.
Which broker is suitable for options trading?
Options traders should compare option-chain tools, Greeks, open-interest data, charting, order types, API facilities and total transaction costs. Dhan, Zerodha, Upstox and Angel One offer different combinations of these features.
Is zero brokerage really zero cost?
No. Zero brokerage normally refers only to the broker’s brokerage component for a particular transaction type. STT, GST, stamp duty, exchange transaction charges, SEBI charges and other applicable fees can still apply.
Conclusion: Best Broker for Trading in India
The Indian brokerage industry has become highly competitive, giving investors many choices. Groww, Zerodha, Angel One, ICICI Direct, Upstox, Kotak Securities, HDFC Securities, Dhan, SBI Securities and Motilal Oswal are among the major brokers that investors can compare.
However, customer numbers alone should not determine your choice. The most suitable broker depends on your investment style, trading frequency, preferred products and the features you require.
Before opening a demat account, compare the complete cost structure, including brokerage, AMC, DP charges and statutory fees. Also check the trading platform, order types, charting tools, research, customer support and other services.
If you are considering a digital-first trading platform, Upstox is one of the major brokers you can compare. You can check the latest pricing and account-opening terms before deciding whether it fits your requirements.
Interested in Opening an Upstox Account?
Check the latest Upstox account-opening terms and brokerage charges before registering.
Open Upstox Account →This article contains a referral link. Any referral benefit, cashback or promotional offer is subject to the applicable Upstox terms and eligibility requirements.
