Last Updated on February 27, 2026 by Rajat Bhati
As of 28 February 2026, India boasts over 4,943 registered brokers with the Securities and Exchange Board of India (SEBI) and various stock exchanges. Notably, the largest stock brokers in India command approximately 66.86% (the 5 biggest players) of the market share. If you’re looking for the best stock broker to open an account with, this guide highlights the top 10 stock brokers in India.
What is a Stock Broker?
Stock brokers act as a bridge between buyers and sellers in the market. They add or remove liquidity based on the type of order. Apart from executing trades, they also provide services like money management, investment advice and even creation of financial products like mutual funds and ETFs.
Brokers earn from transactions and also earn interest as custodians of client accounts. To attract new clients, many brokerage firms offer signing bonuses to enhance their assets under management.
Read Also: Best Intraday Trading Tips for Beginners
Largest Stock Broker in India 2026 with the Highest Active Client Base
The landscape of the largest broker in India has evolved significantly over the years. Below is a list of the leading top brokers in India ranked by the number of active clients as of 28 Feb 2026:
List of the Largest Stock Brokers in India – Market Share, Rating, Active Clients
| Broker Name | Active Clients | Market Share (%) | Rating (10) |
| Groww Invest Tech | 1,24,80,505 | 27.66 | 9.85 |
| Zerodha Broking | 68,62,233 | 15.21 | 9.55 |
| Angel One | 67,45,594 | 14.95 | 9.48 |
| ICICI Securities | 20,45,086 | 4.53 | 9.00 |
| Upstox Securities | 20,36,413 | 4.51 | 8.57 |
| BlinkX by JM Financial | – | – | 8.45 |
| HDFC Securities | 14,29,785 | 3.17 | 8.40 |
| Kotak Securities | 13,68,501 | 3.03 | 8.35 |
| SBICAP Securities | 11,42,868 | 2.53 | 8.30 |
| Dhan by Raise Securities | 9,99,144 | 2.21 | 8.75 |
| Motilal Oswal Financial Services | 9,04,002 | 2.00 | 8.95 |
#1 Groww: Biggest Stock Broker in India
Groww Active Clients – 1,24,80,505
Complaints – 1,406
Groww Market Share – 27.66%
Groww Rating – 9.85/10
Account Opening & AMC Charges:
- Trading & Demat Account Opening Charge – Zero
- Trading Account AMC Charge – Zero
- Demat Account AMC Charge – Zero
Groww Brokerage Charges:
| Trading Type | Brokerage Charges |
| Equity Delivery | INR 20 per order or 0.1% whichever is lower, Minimum INR 5 |
| Equity Intraday | INR 20 per order or 0.1% whichever is lower, Minimum INR 5 |
| Equity Future | INR 20 per executed order |
| Equity Options | INR 20 per executed order |
| SEBI Turnover Charges | 0.0001% (INR 10/Crore) |
#2 Zerodha – Second in Top Brokers in India
Zerodha Active Clients – 68,62,233
Complaints – 734
Zerodha Market Share – 15.21%
Zerodha Rating – 9.55/10
Account Opening & AMC Charges:
- Trading & Demat Account Opening Charge – Zero
- Trading Account AMC Charge – Zero
- Demat Account AMC Charge – Up to INR 4 Lakh – Zero, INR 4 lakh to 10 Lakh – INR 100 Per Year, Above INR 10 lakh – INR 300 Per Year
Zerodha Brokerage Charges:
| Trading Type | Brokerage Charges |
| Equity Delivery | No brokerage |
| Equity Intraday | INR 20 per order or 0.03%, whichever is lower |
| Equity Future | INR 20 per order or 0.03%, whichever is lower |
| Equity Options | Flat INR 20 per executed order |
| Currency Futures | INR 20 per order or 0.03%, whichever is lower |
| Currency Options | INR 20 per executed order |
| Commodity Futures | INR 20 per order or 0.03%, whichever is lower |
| Commodity Options | INR 20 per executed order |
| SEBI Turnover Charges | 0.0001% (INR 10/Crore) |
Read Also: Zerodha AMC Charges: A Comprehensive Breakdown
#3 Angel One – Fast-growing Discount Broker
Angel One Active Clients – 67,45,594
Complaints – 1,070
Angel One Market Share – 14.95%
Angel One Rating – 9.45/10
Account Opening & AMC Charges:
- Trading & Demat Account Opening Charge – Zero
- Trading Account AMC Charge – Zero
- Demat Account AMC Charge – First Year Free, Up to INR 4 Lakh – Zero, INR 4 lakh to 10 Lakh – INR 100 Per Year, Above INR 10 lakh – INR 240 Per Year
Angel One Brokerage Charges:
| Trading Type | Brokerage Charges |
| Equity Delivery | INR 0 brokerage up to INR 500 for the first 30 days* Then, INR 20 per executed order or 0.1% whichever is lower, minimum INR 5 |
| Equity Intraday | INR 0 brokerage up to INR 500 for the first 30 days* Then, INR 20 per executed order or 0.1%, whichever is lower, minimum INR 5 |
| Equity Future & Options | INR 0 brokerage up to INR 500 for first 30 days* Then, INR 20 per executed order |
| Currency Futures & Options | INR 0 brokerage up to INR 500 for first 30 days* Then, INR 20 per executed order |
| Commodity Futures & Options | INR 0 brokerage up to INR 500 for the first 30 days* Then, INR 20 per executed order |
Read Also: NSE IFSC Trading In US Stocks: All You Need To Know
#4 ICICIdirect – Biggest Among Traditional Players
ICICIdirect Active Clients – 20,45,086
Complaints – 607
ICICIdirect Market Share – 4.53%
ICICIdirect Rating – 9/10
Account Opening & AMC Charges:
- Trading & Demat Account Opening Charge – Zero
ICICIdirect offers two types of brokerage plans. The brokerage charges vary according to plans.
ICICIdirect Prime Plan Brokerage Charges
| Plan | Delivery % | Intraday % | Futures % | Options (Per lot) | Commodity (Futures and options) |
|---|---|---|---|---|---|
| INR 999 | 0.22% | 0.022% | 0.022% | INR 49/order | INR 20/order |
| INR 4,999 | 0.10% | 0.010% | 0.010% | INR 19/order | INR 20/order |
| INR 9,999 | 0.07% | 0.007% | 0.007% | INR 9/order | INR 20/order |
ICICI iValue Plan Brokerage Charges
The ICICI Direct iValue Plan is specially designed for active traders. It offers several cost-effective benefits:
- Flat Brokerage Fee: Trade in Equity Intraday, Futures, Options, and Commodities at a flat rate of INR 20 per order, applicable to both intraday and carry-forward trades.
- Reduced Demat Account Maintenance Charges (AMC): The annual maintenance charge for the demat account is reduced from INR 700 to INR 300 for iValue subscribers.
- Utilization of Shares as Margin: Subscribers can use 100% of their shares as margin for Futures and Options trading, with an interest rate of 0.027% per day.
- One-Time Subscription Fee: The plan requires a one-time subscription fee of INR 299 and offers lifetime validity without the need for renewal.
It’s important to note that brokerage rates for delivery trades remain as per the existing plan and are not affected by the iValue subscription.
MoneySaver Plan
The MoneySaver Plan is ICICIdirect’s default, zero-subscription plan. It charges 0.29% for Delivery and 0.029% for Intraday/Futures. However, with Options at INR 49/lot, it is significantly pricier for active traders compared to their flat-fee plans like iValue or Neo.
MoneySaver Plan Key Highlights:
- Default Status: Automatically applied if you don’t choose Prime or iValue.
- Delivery Brokerage: 0.29% (e.g., INR 29 on a INR 10,000 trade).
- F&O: INR 49 per lot for Options and 0.029% for Futures.
Read Also: ICICIdirect Vs Upstox: Stock Broker Comparison
#5 Upstox – List of Top 10 Stock Brokers in India
Upstox Active Clients – 20,36,413
Complaints – 877
Upstox Market Share – 4.51%
Upstox Rating – 8.57/10
Account Opening & AMC Charges:
- Trading & Demat Account Opening Charge – Zero
- Trading Account AMC Charge – Zero
- Demat Account AMC Charge – INR 300 Per Year (Free for the First Year)
Upstox Brokerage Charges:
| Trading Type | Brokerage Charges |
| Equity Delivery | INR 20 per executed order |
| Equity Intraday | Whichever is lower than INR 20 per executed order or 0.1% |
| Futures (Equity, Currency, & Commodity) | Whichever is lower than INR 20 per executed order or 0.05% |
| Options (Equity, Currency & Commodity) | INR 20 per executed order |
| SEBI Turnover Charges | 0.0001% (INR 10/Crore) |
#6 BlinkX by JM Financial
Account Opening & AMC Charges:
- Trading & Demat Account Opening Charge – Zero
- Trading Account AMC Charge – Zero
- Demat Account AMC Charge – INR 700 Per Year (Free for the First Year)
- BlinkX Rating – 8.45/10
BlinkX Pricing Plans
BlinkX offers trader-friendly zero-brokerage subscription plans starting at INR 249 for 2 months. These plans are created keeping in mind the needs of F&O traders.
| Plans | Silver | Gold | Platinum | Titatnium |
| 2-month subscription price | INR 249 | INR 499 | INR 999 | INR 1,999 |
| Brokerage on NSE, BSE F&O | INR 0 | INR 0 | INR 0 | INR 0 |
| Daily lot limit for 0 brokerage trades on NSE F&O | 25 lots | 100 lots | 500 lots | 1,000 lots |
| Brokerage charge post exceeding lot-limit | 0.01%/INR 40 per lot | 0.01%/INR 40 per lot | 0.01%/INR 40 per lot | 0.01%/INR 40 per lot |
| Brokerage on Equity Delivery & Intraday | INR 0 | INR 0 | INR 0 | INR 0 |
| Brokerage on Commodity F&O trades | 0.01%/INR 20 | 0.01%/INR 20 | 0.01%/INR 20 | 0.01%/INR 20 |
Get a 20% discount on the 6-month plans and a 40% discount on the 12-month plans.
Here is what you can access with BlinkX Plans:
- Features designed for Advanced Traders, like Option Chain, Flash Trade, and Chart-based Trading
- Options Trading and Equity Recommendations by JM Financial
- Readymade and Pre-built Strategies
- Access all features on the desktop and mobile applications
Check the full Pricing Plan of BlinkX
#7 Dhan (Moneylicious Securities)
Active Clients – 9,99,144
Complaints – 142
Market Share – 2.21%
Dhan Rating – 8.75/10
Account Opening & AMC Charges:
- Demat Account Opening Charge – Zero
- Account Maintenance Charges – Zero
Dhan Brokerage Charges:
| Trading Type | Brokerage Charges |
| Equity Delivery | No brokerage |
| Equity Intraday | Lower of INR 20 per order or 0.03% of trade value |
| Equity Future | INR 20 per order |
| Equity Options | Flat INR 20 per executed order |
| Commodity Futures | INR 20 per order |
| Commodity Options | INR 20 per executed order |
For investors looking at INR 0 account opening and no AMC charges, Dhan is a go-to platform for stock trading and investing.
#8 HDFC Securities
Active Clients – 14,29,785
Complaints – 355
Market Share – 3.17%
HDFC Securities Rating – 8.40/10
Account Opening & AMC Charges:
- Demat Account Opening Charge – Zero
- Trading Account Opening Charge – Zero
- Trading Account AMC Charge – Zero
- Demat Account AMC Charge – Standard – INR 750, Prime – INR 700, Classic – INR 500
HDFC Securities Brokerage Charges:
| Segment | Brokerage |
| Equity – Delivery | Resident: 0.50%, NRI: 0.75%, Min INR 25, Max 2.5% |
| Equity – Square-Off (Cash) | 0.10%, Min INR 25, Max 2.5% |
| Equity – Square-Off (Margin) | 0.05%, Min INR 25, Max 2.5% |
| Futures – Carry Forward | 0.05%, Min INR 25, Max 2.5% |
| Futures – Square-Off | 0.025%, Min INR 25, Max 2.5% |
| Options – Equity | 1% of premium or INR 100/lot |
| Currency Futures | INR 23 (Carry), INR 12 (Square) |
| Currency Options | INR 20 (Carry), INR 10 (Square) |
| Commodities – Futures (Carry) | 0.025% or Min INR 20 |
| Commodities – Futures (Square) | 0.020% or Min INR 20 |
| Commodities – Options | INR 100/lot |
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#9 Kotak Securities
Kotak Securities Active Clients – 13,68,501
Complaints – 644
Kotak Securities Market Share – 3.03%
Kotak Securities Rating – 8.35/10
Account Opening & AMC Charges:
- Trading & Demat Account Opening Charge – INR 99
- Trading Account AMC Charge – Zero
- Demat Account AMC Charge – First Year Free, Up to INR 50,000 – Zero, INR 50,000 to 2 Lakh – INR 100 Per Year, Above INR 2 lakh – INR 600 Per Year
Kotak Securities provides two types of brokerage plans.
Kotak Securities Brokerage Charges:
| Feature | Trade Free Plan | Trade Free Youth Plan |
|---|---|---|
| Account Opening Fee | FREE | 99 |
| Plan Fee | FREE | INR 499 (Annual) INR 99 for 1st year during account opening |
| Intraday Brokerage | Zero for first 30 days, thereafter INR 10/Order or 0.05%, whichever is lower | INR 10 per order or 0.05%, whichever is lower |
| Equity Delivery | Zero for first 30 days, thereafter INR 0.20% thereafter | FREE |
| Carry Forward (All applicable segments) | INR 20 per order | FREE |
| Interest on Margin Trading Facility | 0.041% per day | 0.041% per day |
| Interest on Stock used as margin for derivative trades | 0.025% per day (if non-cash collateral > 50%) | 0.025% per day (if non-cash collateral > 50%) |
| Demat AMC | If holding value of securities less than or equal to INR 4 lakhs – Zero If More than INR 4 lakhs but up to INR 10 lakhs – INR 100 if greater than INR 10 Lakh – INR 50/month | Zero |
#10 SBICAP Securities
SBICAP Securities Active Clients – 11,42,868
Complaints – 256
SBICAP Securities Market Share – 2..53%
SBICAP Securities Rating – 8.30/10
Account Opening & AMC Charges:
- Trading & Demat Account Opening Charge – INR 850
- Trading Account AMC Charge – Zero
- Demat Account AMC Charge – INR 750 (First Year – Free)
SBICAP Securities Brokerage Charges:
| Plan | Delivery | E-Margin* | Intraday | Futures | Options | ETF^ | Currency |
| PLAN 499 | 0.35% | 0.50% | INR 20 / order | 0.05% | INR 50 / lot | INR 20 / order | INR 20 / lot |
| OIOP – 3K | 0.20% | 0.50% | INR 20 / order | INR 20 / order | INR 20 / order | FREE | INR 20 / order |
| OIOP – 5K | 0.20% | 0.45% | INR 20 / order | INR 20 / order | INR 20 / order | FREE | INR 20 / order |
| OIOP – 10K | 0.10% | 0.40% | INR 20 / order | INR 20 / order | INR 20 / order | FREE | INR 20 / order |
#10 Motilal Oswal
Motilal Oswal Active Clients – 9,04,002
Complaints – 761
Motilal Oswal Market Share – 2.00%
Motilal Oswal Rating – 8.95/10
Account Opening & AMC Charges:
- Trading & Demat Account Opening Charge – Zero
- Trading Account AMC Charge – Zero
- Demat Account AMC Charge – Free for the first year, then INR 299 – 999 per year
Motial Oswal Brokerage Charges:
| Trading Type | Brokerage Charges |
| Equity Delivery | 0.20% |
| Equity Intraday | Lifetime Free |
| Equity Futures | 0.02% |
| Equity Options | INR 20 per lot |
| Currency Futures | INR 20 per lot |
| Currency Options | INR 20 per lot |
| Commodity Futures | 0.02% |
| Commodity Options | INR 200 per lot |
Top Stock Brokers in India FAQs
Which is the largest stock broker in India in 2026?
Groww is the biggest stock broker in India in 2026, followed by Zerodha and Angel One in terms of the number of clients.
Which is the best stock broker in India in 2026?
ICICI Direct is the best stock broker among all the brokers. ICICI Direct is followed by stock brokers like HDFC Securities, Groww, and Kotak Securities.
Which is the fastest-growing broker in India?
Angel One is the fastest-growing stock broker in India. Upstox is the best choice for high-volume traders looking for high margins, low brokerages, and decent trading platforms.
What is Groww’s market share in India?
Groww market share is 27.66%.
Which is the most affordable broker in India?
BlinkX by JM Financial offers 0-brokerage subscription plans starting from INR 249 for 2 months. Traders can choose different plans based on their trading style to get 0-brokerage trades for 25, 100, 500, and 1000 lots per day.
