A true list of top full-service brokers in India 2013 by the number of active clients. ICICI Direct is the top most stock broker among all the brokers. ICICI Bank is followed by discount brokers like HDFC Securities, Sharekhan and Kotak Securities.
There are over 15 top full-service brokerage firms who have over 1 lakh active customers. The below year-wise list helps you find the top rated full service brokerage firms in India.
Rank | Broker | Active Clients | Request Callback | Review |
---|---|---|---|---|
1 | ICICI Direct | 500,733 | Open Account | ![]() |
2 | HDFC Securities | 278,706 | Open Account | ![]() |
3 | Sharekhan | 274,777 | Open Account | ![]() |
4 | IIFL Securities | 235,241 | Open Account | ![]() |
5 | Kotak Securities | 223,280 | Open Account | ![]() |
6 | Geojit | 148,176 | Open Account | ![]() |
7 | Angel Broking | 140,174 | Open Account | ![]() |
8 | Karvy | 126,308 | Open Account | ![]() |
9 | Motilal Oswal | 123,022 | Open Account | ![]() |
10 | Religare | 116,104 | Open Account | ![]() |
There are two types of brokers in India based on the services and fees:
A full-service broker offers a range of add-ons in addition to trading at stock exchanges. This includes research reports, advisory and a relationship manager apart from helping you buy and sell shares. They also offer a wide range of products including Mutual Funds, IPO, Debt, Insurance and Loans.
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 add-ons usually offered by a full service broker.
A full-service broker is good for following investors/traders:
The most popular full-service brokers include ICICI, HDFC and Sharekhan.
The 3-in-1 account (a combination of bank saving account, a trading account and a demat account) is one the best offering by the top full service brokerage firms. The 3-in-1 account helps in the seamless transaction between these 3 accounts. It is the most convenient way to trade online.
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%.
ICICI is the 2nd largest and most famous full-service broker with over 10 lakh customers.
Note:
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