Top 10 Stock Brokers in India with Highest Customers

Top 10 Stock Brokers in India with the Highest Customers 1. Groww 2. Zerodha 3. Angel One 4. Upstox 5. Kotak Securities 6. Motilal Oswal 7. Mirae Asset Sharekhan 8. mStock 9. 5paisa 10. Axis Securities

In recent years, India’s stock market has witnessed an extraordinary rise in participation, particularly driven by young, tech-savvy investors. Leading brokerages like Zerodha and others have repeatedly highlighted this trend.

A major catalyst behind this surge has been the emergence of intuitive, easy-to-use trading platforms that have opened the doors of investing to a much wider audience. NSE data shows that, as of March 2025, Groww held the top spot as India’s largest stockbroker in terms of active clients.

List of top stock brokers in India

Groww

Overview
Launched in 2017 by ex-Flipkart employees Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal, Groww began as a mutual fund platform but has quickly grown into India’s largest broker by active clients. Its rapid adoption mirrors the new-age investor’s preference for mobile-first, simplified investing.

Technology & Platform
The app is designed for first-time users with an uncluttered interface and simple navigation.

Features include:

One-click investing
Real-time portfolio tracking
Mutual fund and ETF integration
Paper trading for practice
Learning resources and insights

Pricing

Account Opening & AMC: Free
Equity Delivery: ₹20 or 0.05% per order (whichever is lower)
Intraday/F&O: ₹20 or 0.05% per order
Mutual Funds: Zero commission

Offerings
Stocks, Mutual Funds (5,000+), ETFs, IPOs, F&O, US Stocks, Digital Gold, Government Bonds.

Target User
Groww primarily appeals to young, first-time investors and digital-savvy individuals who seek a seamless and jargon-free investing experience.

USPs

Over 1.25 crore clients
Zero AMC charges
Mobile-first design
Quick paperless onboarding
Strong focus on education

Zerodha

Overview
Founded in 2010 by Nithin and Nikhil Kamath, Zerodha disrupted the industry with flat-fee broking. The name reflects its mission: “Zero” + “Rodha” (barrier).

Technology Suite

Kite: Core trading platform
Coin: Mutual fund investments
Console: Back-office & portfolio tracking
Varsity: Free investor education
Streak: Algo trading tool
Smallcase: Thematic investing

Pricing

Account Opening: Free
AMC: ₹300 from year 2
Equity Delivery: Free
Intraday/F&O: ₹20 or 0.03% per order
Call & Trade: ₹50 per order

Target User
Zerodha is preferred by active traders and experienced market participants, especially those who value advanced analytics, APIs, and comprehensive trading tools.

USPs

First mover in discount broking
Zero delivery brokerage
Varsity – one of the best free learning resources
Robust APIs for developers
Transparent, flat pricing

Angel One

Overview
Started in 1996 as Angel Broking and rebranded to Angel One in 2020. Founded by Dinesh Thakkar, it combines traditional research strengths with a digital-first approach.

Platforms

Angel One App (mobile)
Angel One Pro (web)
Speed Pro (desktop)
Angel Bee (learning platform)

Research Edge

ARQ Prime: Robo-advisory
Premium advisory packages
Daily/weekly research reports
Detailed company analysis

Pricing

Account Opening & AMC: Free (first year)
Equity Delivery: Initially free, then ₹20/order
Intraday/F&O: ₹20/order
Mutual Funds: Zero commission

Target User
The platform serves both entry-level investors who require guided advisory services and seasoned traders looking for robust tools and research support.

USPs

Long-standing research credibility
ARQ Prime robo-advisory
Multi-asset platform
Dedicated RMs for premium clients
Integration with Smallcase, Sensibull

Upstox

Overview
Founded in 2011 as RKSV Securities, rebranded to Upstox in 2016. Backed by Ratan Tata, Tiger Global, and Kalaari Capital.

Platforms

Upstox Pro Web & Mobile
TradingView integration (100+ indicators)
Real-time market data
API for algo trading

Pricing

Account Opening: Free
AMC: ₹300 (waived first year)
Equity Delivery: ₹20/order or 2.5% (whichever lower)
Intraday & F&O: ₹20/order or 0.05%

Advanced Tools
Options chain, open interest data, FII/DII flows, basket orders, GTT, and margin trading.

Target User
Upstox focuses on active traders, derivatives participants, and investors who rely on technical analysis and fast execution capabilities.

USPs

Backed by marquee investors
TradingView integration
Quick execution speeds
Algo trading API access

Kotak Securities

Overview
The broking arm of Kotak Mahindra Bank, active since 1999. Combines traditional banking trust with modern trading platforms.

Platforms

Kotak Neo (mobile & web)
Kotak NEST (desktop)
API for algo trading

Banking Benefits

3-in-1 account (bank, demat, trading)
Instant fund transfers
Loans against securities

Pricing

Youth Plan (<30 yrs): Equity Delivery Free, F&O ₹10/order
Regular Plan: Free delivery for 30 days, then ₹20/order

Target User
Best suited for clients who value integrated banking with investments, HNIs seeking premium support, and security-conscious investors.

USPs

Trusted banking ecosystem
Relationship managers for HNIs
Strong research advisory

Motilal Oswal

Overview
Founded in 1987 by Motilal Oswal and Raamdeo Agrawal, known for research excellence and wealth management services.

Research Strength

Coverage of 260+ companies
Thematic & sector insights
Award-winning team

Platforms

MO Trader, Mobile App, Web Portal

Services
Catered towards serious investors, HNI clients, and institutional participants who require high-quality research and wealth management solutions.

USPs

37+ years of expertise
Institutional-grade research for retail clients
Pan-India presence
Strong wealth management ecosystem

Mirae Asset Sharekhan

Overview
Sharekhan (2000) was acquired by Mirae Asset in 2017, combining Indian experience with global expertise.

Platforms

TradeTiger (desktop)
Sharekhan App
InvesTiger (investment app)

Research & Education

3R philosophy (Right stock, price, time)
Training programs & workshops
Research-backed recommendations

Target User
Ideal for investors who prefer strong research-backed recommendations, education-oriented programs, and full-service offerings.

USPs

Backed by Mirae’s global presence
24+ years in Indian markets
Strong research + education focus

mStock

Overview
Mirae Asset’s ultra-low-cost platform offering flat ₹5 brokerage and zero charges for delivery.

Features

Mobile & web apps
Real-time portfolio tracking
Margin Trading Facility (MTF) with funding up to 80%

Pricing

Delivery: Free
Intraday/F&O: ₹5/order
MF & IPO: Zero commission

Target User
Attracts cost-conscious and frequent traders, as well as investors looking for competitive margin trading facilities.

USPs

Ultra-low flat pricing
Unlimited MTF holding period
High funding limits

5paisa

Overview
Launched in 2016 by IIFL, listed on exchanges in 2017. Known for ultra-low pricing and segment-wide access.

Platforms
Mobile App, Web, Desktop Terminal, API access.

Pricing Plans

Optimum: ₹20/order
Platinum: ₹499/month, ₹10/order
Titanium: ₹999/month, free equity delivery

Target User
Designed for price-sensitive investors and multi-segment traders who value affordable access to equities, commodities, and derivatives.

USPs

Multiple plans to suit trader profiles
Listed entity (added transparency)
Strong technical tools & API support

Axis Securities

Overview
Established in 2005, Axis Securities is the brokerage arm of Axis Bank with a 3-in-1 account structure.

Platforms
Axis Direct App, RING (idea scanner), Web & Desktop trading, API access.

Banking Benefits

Seamless money movement
Loan against securities
Priority banking for HNIs

Pricing

Account Opening: ₹999 (often waived)
Delivery: 0.50%
Intraday: 0.05%
F&O: Competitive, min ₹20/order

Target User
Appeals to Axis Bank clients, HNIs, and investors who prefer the combination of banking services with digital trading platforms.

USPs