Top Stock Brokers in India 2022 - Charges & Market Share

Indian stock market brokers have been broadly categorized into two main parts

• Full service brokers
• Discount brokers

Full Service Brokers

Full-service brokers are the traditional brokers. They are licensed brokers that provide a wide range of services to their customers, including investment advisory, portfolio and wealth management, and research services. With the passing of time and the advent of technology, full-service brokers these days provide their services both online and offline.

Ex:
ICICI Direct, SBI Securities, Angel Broking, HDFC Securities, Sharekhan, and Kotak Securities.

Pros

• They provide their customers with dedicated relationship managers who help and guide them in realizing their investment needs.

Cons

• They charge a higher commission than discount brokers because of the many services they offer.
• The transaction costs in full-service broking is usually high

Discount Brokers

Discount brokers just provide the trading facility for their clients. They do not offer advisory and suits for a ‘do-it-yourself’ type of clients. They offer low brokerage, high speed and a decent platform for trading in stocks, commodities and currency derivatives.

Ex:
Zerodha, 5paisa, Upstox, Groww, Fyers,etc.

Pros

• Lower commission charge on their services.
• The transaction cost involved is low.
• Since they do not offer investment advisory services and are not interested in selling any third-party products, discount brokers provide unbiased services to their clients and do not mislead them.

Cons

• Discount brokers do not provide any portfolio management services either.
• Discount brokers do not provide advisory services. They do not report on companies or make trade calls to their clients.
• Since most of the services are provided online, discount brokers lack a personal touch. They do not offer customers with relationship managers to help and assist them.

Top 5 Discount Brokers:



Top 5 Full Service Brokers:



Ref: NSE India

Charges of Top Discount Brokers:

Zerodha Charges



Upstox Charges



Groww Charges



5 Paisa Charges



PayTM Charges