Best Stock Broker in India – 2021

Best Stock Broker in India 2021

 

Before I present you the list of Best stock brokers in India, I would like to give some pointers in selecting the ideal broker for you.

Offcourse all the below names I’m going to mention are Top 5 stock broker in India but everyone may not suite you. It is good to spend some time in understanding basics than repenting later. So I request you to please read entire post.

Below are the some criteria based on which I have tried to find out who is Top Stock Brokers of India:

  • Brokerage/Commission
  • Credibility of the Share Broker
  • Trading Platforms/softwares
  • Number of Customers (Client Base)
  • Margin/Leverage they offer
  • Customer Support
  • Brokerage/Commission

This is important. Never choose the brokerage house just on the basis of brokerage charges. There are many instances of brokers going bankrupt because they used to operate on low operational margin. Check the next point (Credibility) which is more important than brokerage.

  • Customer Support

Your Broker should always be there to help you in your difficult times. Check out different modes of support the stock brokerage firm offering like phone, email, online chat and physical location.

They should be reachable quickly to place/modify/cancel your orders. They should create a ticket for each one of your issues/queries and see that it closes satisfactorily.

 

Best Stock Brokers In India 2021

If you want to take care of your investment portfolio, best way to do so is opening a demat account with a stock broker. There are quite a few outstanding stock broker operating in India. Some of the factors you should consider before you select one like brokerage, customer support and trading platforms. Luckily, we have reviewed some of the best stock brokers in India to help you find the right one for you.

Broker

Brokerage Charges

Ratings

Open Account

Zero for Delivery; 0.05% or Rs. 20/executed order whichever is lower

9.3/10

Zero for Delivery; 0.01% or Rs. 15/executed order whichever is lower

9.2/10

Rs10/executed Trades

8.8/10

Rs 20/executed order

8.7/10

I have placed aliceblue on top of the list of Best Indian Stock brokers simply because of the innovation and initiative they bring in with their products and services.

aliceblue was started in the year 2006 by a handful of people headed by Mr. Sidhavelayutham Mohan. Within the span of 8+ years, they have managed to beat the names of Sharekhan and Angel Broking to become a brokerage firm with the 2nd highest number of customers.

As far as brokerage charges of aliceblue is concerned, they offer flat Rs 15/trade for non-delivery trades. For delivery-based transactions, there will be no charges. If you are not aware, delivery trades are the ones in which both buy and sell are not carried out on the same day.

In fact, aliceblue is the pioneer in introducing the discount brokerage concept in India. Before that, full-service brokers charged on a percentage of the traded value and traders used to suffer due to high brokerage overheads.

Indian traders welcomed this very new concept and due to its very competitive management, aliceblue has become the best share broker of India.

You can read more about their brokerage charges, trading platforms etc here at aliceblue detailed review.

Upstox started little late compared to Zerodha and initially they had only monthly fixed brokerage plans. Formerly they were known as RKSV securities. They are the No 2 discount stock brokers of India.

Now they follow the brokerage structure of Zerodha and taken out all the monthly plans. They also developed their own inhouse trading platform now after facing the tough competition from Zerodha Kite.

They are primarily located at Mumbai and have offices at few more location across India.

upstox=728-90-banner

Check out my detailed review of Upstox here.

3. 5Paisa

5Paisa is the discount brokerage division of India Infoline (IIFL). IIFL is well known and premier stock broker of India with multiple decades of experience at stock exchanges.

5Paisa entered quite late into the discount brokerage arena (in 2016) and by that time Zerodha and Upstox had established themselves as reputed stock brokers of India. But they have managed to grow at higher pace to become 2nd largest discount broker of India after Zerodha.

The brokerage charges of 5Paisa is 10/Executed order. It is almost half of that of Zerodha, but they do not offer Zero brokerage for investments.

5Paisa also provides recommendations and intraday tips to their customer for free.

Read the entire review of 5Paisa here.

You can open an account with 5Paisa without paying Rs 650 account opening fee by using below link.

You can open an account with 5Paisa without paying Rs 650 + GST account opening fee by using below link (Contains promocode) .

 

FYERS is the acronym chosen by its founders which stands for Focus Your Energy & Reform Self. They entered the discount broking industry lately compared to Zerodha and Upstox.

They are based out of Bangalore and founded in year 2015. The company is headed by team of young people and has start up like environment.

FYERS brokerage charge structure is simple and almost similar to Zerodha. They charge flat Rs 20 per every executed order.

Read the entire review of fyers here.