Selecting a stock broker in India is an important decision, so choose one with low brokerage fees, excellent trading tools, and an active customer support team.
ICICIdirect
ICICIdirect is one of India’s largest stock brokers, boasting an active client base of over 30 lakh people. Offering a broad selection of trading and investing products and services – including its widely popular 3-in-1 account, advanced trading platform, TradeRacer terminal, mobile trading app for investing and trading – as well as multiple brokerage plans such as iSecure Plan and Lifetime Prepaid Brokerage Plan, among many others; it caters to an active clientele.
ICICIdirect is a full-service broker offering clients investment advice and detailed stock analysis. With an expansive network of branches worldwide and higher brokerage charges than competitors, this firm should not be considered a discount broker.
In addition to brokerage charges, ICICIdirect also charges transaction fees, SEBI turnover charges, and Stamp Duty on purchases and sales of shares. Furthermore, a minimum margin requirement is 10% of market value.
ICICIdirect also allows its clients to use collateral for margin funding, with pledged shares, mutual funds, and ETFs as collateral. Pledging processes differ slightly from Zerodha due to pledged shares not leaving the demat account, which can only be retrieved with OTP verification, making the process more complex for customers of ICICI Direct.
Angel One
Angel One is an Indian stock broker providing online trading and investment services with low brokerage charges and user-friendly platforms. Their robotic advisory platform ARQ also offers personalized investment advice.
Brokerage charges at Angel One vary based on the type of trade. Equity delivery is free, while intraday trading costs Rs 20 or 0.03% of transaction value, whichever is less, per trade. Furthermore, the firm provides after-market orders to allow investors to buy or sell shares after markets close; these orders will then be processed when markets reopen the next day.
Angel One charges fees such as DP charges, SEBI fees, and risk management charges, which can be seen as outlined on their website. When selecting their broker, traders should consider all of these costs when deciding.
Angel One provides more than low brokerage charges; in addition to this, they also provide extensive research reports and tips on 150+ frontline stocks, plus a referral program that rewards users with cash or prizes for inviting others to the service – allowing users to expand their investments while increasing returns.
Zerodha
Zerodha is a fintech/financial services company based in Bangalore that offers retail stock brokerage, currency trading, commodities trading, mutual funds, bonds, and more. Operating under a discount broker model that offers lower commission rates to attract traders and investors alike has enabled Zerodha to build up an impressive 6.3 Million clientele base!
Zerodhas provides customer service through email and telephone and provides traders with numerous educational resources. In addition, they host 30- and 60-day trading challenges to test participants’ trading abilities by competing against others while holding webinars that provide knowledge on various markets and trends.
Zerodha offers traders a convenient, quick, and cost-effective online account opening process, typically taking less than 24 hours to complete online. They also accept paper applications, which take two days. Once an account has been opened with Zerodha, an email with your login credentials will be sent directly to you. They offer Zerodha brokerage calculator to the calculation of brokerage charges.
Zerodha Financial Services Limited was established in 2010 as an Indian financial services company offering discount trading and investment platforms. Their products include Zerodha Kite (web and mobile trading platform), Coin (mutual fund investment platform), Varsity (investor education program), Streak (algo/strat trading platform), Smallcase (thematic investing platform), GoldenPi (bonds trading platform). They are registered with the Securities & Exchange Board of India & Central Depository Services Limited for investor protection.
Sharekhan
Sharekhan is a full-service stock broker who trades shares, equity derivatives, mutual funds, IPOs, and research products such as fundamental and technical reports to investors and traders. Furthermore, Sharekhan provides both an online trading platform and a mobile application that provides easy access to the market. At the same time, its customer support can be reached via phone calls, email, and chat support services.
This company offers various brokerage plans, from percentage-based fees and flat rates for new investors who cannot afford the higher charges associated with traditional brokers to percentage plans that enable users to compare all available options and find one best suited to their needs. Their website makes this search process even simpler!
Sharekhan also offers an after-hours market, from 23:00 to 09:00, featuring equity trading services across all major Indian exchanges. In addition, Sharekhan provides both mobile apps and terminal-based platforms called Trade Tiger for its clients; its former specifically caters to people in rural regions who may have low bandwidth available to them.
Indian investors and traders favor this company for its variety of features that make trading platforms available from them a top choice for Indian investors and traders. Their trading platforms feature an expansive array of trading tools with unparalleled security features like two-step verification to protect customer information; additionally, they require them to comply with know-your-customer (KYC) protocols.
Conclusion
Choosing a broker with the lowest brokerage can make a huge difference in your profits, especially if you are a frequent trader. The top 10 brokers in India with the lowest brokerage offer competitive fees and features like advanced trading apps in India, strong research support, and good customer service. While cost is essential, it’s equally important to see the overall value offered by each broker, including service quality, technology, and user experience. Choose the right broker and maximize your returns while keeping the costs low.
