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Top 10 Full-Service Brokers in India By Clients at NSE in 2018

Full-Service Broker is a stock broker who offers add-ons like research reports, advisory and a relationship manager apart from helping you buy and sell shares. They also offers wide range of products including Mutual Funds, IPO, Debt, Insurance, Loans etc.

On the other side, a Discount Broker leverages technology to reduce the operation cost and offer low cost online brokerage services. Discount brokers do not offer most add-ons usually offered by a full service broker.

A full-service broker is good for following investors/traders:

  1. A beginner investors need to have their hand held by some in initial days of trading.
  2. Traders who are looking for higher margin or margin funding. Trader can get significantly higher margin based on his personal relation with the broker or sub-broker.
  3. Traders planning to use Call & Trade a lot or visit the branch in person. Most discount brokers charges extra for call & trade and do not have local branches.
  4. Investors looking for verity of financial products for investment though the broker i.e. Mutual Funds, IPO, Debt, Insurance, FD etc.

Note that apart from the standard % based brokerage structure, most traditional brokerages also offer volume-based plans where the brokerage varies according to the size of transactions on a periodic basis. At higher turnovers, the brokerage can come down to as low as 0.05-0.15%.

Below is the list of top 10 full-service brokers in India based on number of active clients at NSE. Click on the name of broker to read the review of the broker and to know more about the services they offer.

Broker Company Name Number of Clients
ICICIDirectICICI SECURITIES LTD804,429
HDFC SecuritiesHDFC SECURITIES LTD611,096
SharekhanSHAREKHAN LTD540,487
AxisDirectAXIS SECURITIES LTD396,851
Kotak SecuritiesKOTAK SECURITIES LTD372,874
Angel BrokingANGEL BROKING PVT LTD371,244
Motilal OswalMOTILAL OSWAL SECURITIES LTD311,592
KarvyKARVY STOCK BROKING LTD252,589
India Infoline (IIFL)INDIA INFOLINE LTD227,380
SBI SecuritiesSBICAP SECURITIES LTD213,572
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