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Top 10 share brokers in India (Best stock brokers in India)

Published on Monday, April 15, 2019 by Team | Modified on Sunday, August 9, 2020

Top 10 share brokers in India (Best stock brokers in India)

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A good stock broker is a must for investing in stock markets. And that's why every trader wishes to open an account with the best stock broker in India. This article gives you an unbiased list of top 10 discount brokers and top 10 full-service brokers in India to help you find the best share broker for your trading needs.

There are 2 types of stock brokerage firms in India; Full-service stock brokers and discount stock brokers. To help you find the best stock broker in India, we have created a top 10 list of both broker types:

Top 10 Full-Service Brokers in India (Best Traditional Brokers in India)

Full-services stock brokers or traditional brokers are those companies that offer a complete range of services to their customers. While stock broking services remain the major offering of these companies, they also offer other investment related services like Portfolio Management Services, Mutual Funds, IPOs, Research Advisory etc. ShareKhan, Motilal Oswal, ICICIdirect are some of the top full-service brokers in India.

Key Features of Full-Service Brokers

  • Offers Online as well as Offline services

    Full services brokers offer their services through both online and offline channels. In online trading services, they provide their customers access to different types of online trading software on the desktop, mobile and web platforms. Some brokers also provide instant, paperless account opening services. In offline services, they offer their services through dedicated relationship managers, branches and call-and-trade facility. Most of the brokers also have branch offices in multiple locations across their area of operations that act as service points. Customers can visit these branch offices and invest in stocks, mutual funds etc., as well get their issues resolved.

  • Offer Research services:

    Another key feature of a full-service broker is research advisory services for the clients. Most of these brokers have dedicated research team who provide trading calls and research reports to the customers on market trends, economy and investments.

  • Multiple Investment Services

    Full-service brokers offer more than stock broking services. They offer their clients investment services in Mutual Funds, Bonds, Insurance and other fixed-income instruments. Their services also include PMS, wealth management etc.

So, if you want to open a trading and demat account with the best full-service broker in India then check out our list of top 10 share brokers in India:

Top 10 Discount Brokers in India (Best Discount Stock Brokers in India)

Online discount brokers like Zerodha, Fyers, Upstox etc., are fast gaining popularity among the traders. Unlike traditional stock brokers, these companies operate on a completely online business model. The discount brokerage firms only offer trading services through online platforms like web, mobile and downloadable desktop software. These companies don't offer branch services and rely on technology for customer support.

Key Features Of Online Discount Brokers

  • Offer Online Services

    Online discount brokers provide trading services online. From account opening, trading to customer support- everything happens online.

  • Charges lower brokerage

    The online business model of discount brokers enable them to save on infrastructure, employees and other expenses. This allows them to charge low brokerage from the clients. They also charge flat brokerage wherein customers pay a fixed brokerage per order irrespective of the trade value.

  • Offer limited services:

    Unlike full-service stock brokers, online discount brokers offer a limited number of services. Most of them don't offer research, PMS and investment services in Mutual Funds, Bonds, IPOs etc.

So, if you are looking for the best online discount broker to open a trading and demat account with, then check out our list of top 10 share brokers in India:

Should you choose a full-service broker or a discount broker?

Both full-service and discount brokers have their pros and cons. Let's look at the advantages and disadvantages of both:

Pros and Cons of Full-Service Brokers



  • Offers services through multiple customer channels- online, branch, doorstep and call-n-trade etc.
  • Dedicated research services
  • Strong physical existence in their area of operations
  • Dedicated Relationship Managers for trading assistance
  • Brokerage fee is higher than discount brokers
  • Brokerage plans are more favourable to high volume traders
  • High transaction costs

Pros and Cons of Online Discount Brokers



  • Charges lower brokerage than full-service brokers
  • Charges flat brokerage for all traders (brokerage doesn't depend on trading turnover)
  • Swift customer support via email/chat/call etc.
  • Low transaction costs
  • No recommendation calls and research reports
  • No branch offices
  • No services of a relationship manager

After going through the pros and cons of discount and full-service brokers, you must have got a good understanding of the difference between the two. Whether you should opt for a full-service stock broker or an online discount broker depends on a number of factors like:

  1. Your Trading Needs
  2. Type of trading (Intraday or delivery)
  3. Choice of trading platforms
  4. Preferences in customer services- online or offline

So match your trading needs with the features of the brokers and then choose from one of the top share broker.

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1. Best Stocks Broker   I Like It. |Report Abuse|  Link|August 26, 2023 5:08:04 PMReply
Thanks for sharing the information. The detailed insights and comparisons provided a clear picture, making the decision-making process much easier. Highly recommend it to anyone stepping into the stock market.