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:
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.
|<< Year 2017||2018|
|Broker||Company Name||Number of Clients|
|ICICIDirect||ICICI SECURITIES LTD||804,429|
|HDFC Securities||HDFC SECURITIES LTD||611,096|
|AxisDirect||AXIS SECURITIES LTD||396,851|
|Kotak Securities||KOTAK SECURITIES LTD||372,874|
|Angel Broking||ANGEL BROKING PVT LTD||371,244|
|Motilal Oswal||MOTILAL OSWAL SECURITIES LTD||311,592|
|Karvy||KARVY STOCK BROKING LTD||252,589|
|India Infoline (IIFL)||INDIA INFOLINE LTD||227,380|
|SBI Securities||SBICAP SECURITIES LTD||213,572|