Trading involves more than just purchasing and selling stocks. In order to earn some profits, you need to learn about managing costs and optimising your strategy. Selecting the right broker can significantly impact your daily trading experience. Check out our review of the top 6 share brokers in India to see their features, advantages, and cons.
This can help you can pick the best broker for trading in India that best supports your trading goals.
Zerodha
Zerodha leads the list of top 6 share brokers in India. It is a leading discount broker known for its zero brokerage on equity delivery and competitive flat-fee charges across various trading segments. You can also use its advanced trading tools and trust its transparency.
Charges:
- Equity Delivery: ₹0
- Equity Intraday: ₹20 or 0.03% (whichever is lower)
- Equity Futures: ₹20 or 0.03% (whichever is lower)
- Equity Options: ₹20 per order
- Currency Futures: ₹20 or 0.03% (whichever is lower)
- Commodity Futures: ₹20 or 0.03% (whichever is lower)
- Mutual Funds: Free
Pros & Cons:
| Pros | Cons |
| Free account opening | No stock tips or research reports |
| No brokerage for equity delivery | No monthly unlimited trading plans |
| Safe, reliable, and trustworthy | Additional charges for non-squared-off positions |
| Advanced trading tools and platforms | No 3-in-1 trading account |
| Zero commission for direct mutual funds | BSE SME IPOs not available |
Shoonya
Shoonya is a modern brokerage platform offering lifetime free demat account. It ranks second among top 6 brokers in India. You can enjoy equity trading, mutual funds, invest in stocks, bonds, ETFs and more; all at zero brokerage.
Known for its zero brokerage model, Shoonya aims to provide a user-friendly trading experience.
Charges:
Equities, Derivatives, Commodities, Currency Futures, Currency Options, Mutual Funds, Exchange-Traded Funds (ETFs), IPO (Initial Public Offering), etc. – zero brokerage.
Pros and Cons:
| Pros | Cons |
| Zero brokerage on all segments | Limited research and advisory services |
| User-friendly trading platform | No branch support |
| No annual maintenance charges | No margin trading |
HDFC Securities
HDFC Securities is a leading full-service broker. It offers a wide range of trading services, including equity, derivatives, commodities, mutual funds, and more. HDFC Securities caters to both retail and institutional investors.
Charges:
- Equity Delivery: 0.50% to 0.75% (depends on plan)
- Equity Intraday: ₹20 or 0.05% per trade (whichever is lower)
- Equity F&O: ₹20 or 0.05% per trade (whichever is lower)
- Mutual Funds: ₹0 commission on direct funds
Pros and Cons:
| Pros | Cons |
| Comprehensive research and advisory services | Higher brokerage charges compared to discount brokers |
| Integrated 3-in-1 account for seamless transactions | Higher fees for lower volumes |
| Multiple branch locations | Limited free trading tools |
| Wide range of investment products and services | Account opening charges may apply |
Groww
Groww offers equity trading, digital gold, US stocks, and fixed deposits. Known for its flat-fee structure, it offers a user-friendly trading experience. Explore the trading app with zero brokerage!
Charges:
- Equity Delivery: ₹20 per trade or 0.05% (whichever is lower)
- Equity Intraday: ₹20 per trade or 0.05% (whichever is lower)
- Equity F&O: ₹20 per trade
- Mutual Funds: Free
Pros & Cons:
| Pros | Cons |
| Simple pricing with a flat ₹20 per trade | Limited investment options (no commodities) |
| No account opening fee | No call-and-trade services |
| No annual demat charges | No stock tips or research reports |
| Instant, paperless account setup | No advanced order types like BO, CO, GTT |
| Free mutual fund investments | No NRI trading or SME IPOs |
Upstox
Upstox provides both web and mobile trading solutions with advanced features.
Charges:
- Equity Delivery: ₹20 per trade or 2.5% (whichever is lower)
- Equity Intraday: ₹20 per trade or 0.05% (whichever is lower)
- Equity F&O: ₹20 per trade or 0.05% (whichever is lower)
- Currency: ₹20 per trade or 0.05% (whichever is lower)
- Commodity: ₹20 per trade or 0.05% (whichever is lower)
- Mutual Funds: Free
Pros & Cons:
| Pros | Cons |
| Flat ₹20 brokerage across all segments | No unlimited monthly trading plans |
| Free online account opening | Brokerage fee for stock deliveries |
| Advanced order types (AMO, CO, SL, GTT) | No stock tips or recommendations |
| Margin trading facility available | Limited customer support hours |
| Tools for coding and strategy execution | No API access for automated trading |
ICICIdirect
ICICIdirect, the last on our list of top 6 stock brokers in India, offers a range of investment options. You can explore equities, commodities, currencies, and more with its integrated 3-in-1 account for seamless transactions.
Charges:
- Equity Delivery: 0.55% (ICICI Neo Plan) or ₹20 per trade
- Equity Intraday: Flat ₹20 per order
- Equity Futures: 0.05% or ₹20 per order
- Equity Options: ₹20 to ₹40 per lot
- Mutual Funds: Variable depending on the plan
Pros & Cons:
| Pros | Cons |
| Integrated 3-in-1 account for ease | Higher brokerage charges compared to some rivals |
| Quick access to funds from stock sales | Minimum brokerage charges may be high for small trades |
| Wide range of investment options | Additional fees for call & trade after free calls |
Conclusion
The top 6 share brokers in India each offer distinct advantages, from zero brokerage to advanced trading tools. By comparing their features, charges, and services, you can identify the best broker for yourself. However, please make sure to consider what matters most to you in your daily trading activities to ensure a seamless and productive experience.
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