Top 10 stock brokers in India in 2023

The top stock broker in India in 2023 is 5paisa, Zerodha followed by Upstox, Angel broking, Groww, ICICI direct, Kotak Securities, HDFC Securities, IIFL Securities and Motilal Oswal.

This is the latest ranking of stockbrokers in India in 2023. This data has been collected from BSE and NSE stock exchanges. Stock trading is a risky process therein we get a need for the top stock brokers in India.

What are stock brokers?

Stock investment is a tedious process and too technical for a normal person therefore people rush to connect with stock brokers in India. The stock brokers are said to be authorized members of the stock exchanges. They help people in trading by conducting trade on their behalf. In India, there are many stock brokers that offer stock trading to retail customers. The one thing you should keep in your mind before rushing to the top 10 stock brokers in India is that they do not provide securities instead render their services for lowest brokerage charges.

How do we select the top brokers?

The top stock brokers are mainly selected for the number of active clients they have. Zerodha has been on this list since 2019 and is giving good trade profits to its retail customers. There are even top 20 stock brokers in India in 2023 having active customers over 1 lakh.

Since the stock brokers are your ultimate partner in impressive returns and investment options in stock trading. As we have already learned about the top 10 stock brokers in India in 2023 so lets now take a close look at these stock brokers.

1. 5paisa

5paisa allows trading at a discount brokerage of Rs. 10 per order. They provide you facility of trading across Equity, F&O and Currency on NSE and BSE. 5paisa has started to operate for Zero AMC from 15 Jan 2021 that is you need not to pay any demat Account Maintenance Charge. The overall rating is 4.5.

2. Zerodha Broking Limited

Zerodha is the best trading platform in India which is backed by the latest technology and has an amazing trading tools with a three-way trading platform, it has become the largest discount broker and the best trading broker in India.

Zerodha is one of the best because of its great features in stock trading for customers such as low brokerage, the discount broking option introduced in 2010 has made it even better. It gives great exposure and only web-based brokers are available. Hence it is regarded as the third largest stock broker in India and tops the discount broker list as well. It has an overall 3.8 stars. Still any questions for zerodha? Should not be there because it is the best and you must go to zerodha for stock trading right now.

3. Upstox

Upstox is a name that all of us are familiar to. There are multiple advertisements we have seen for upstox. It is another big name in the field of discount broking and second in the list of stock broker in India 2023. It is the best share broker for trading.

Upstox offers you cutting edge tools to free option of trading as well as incorporate value centric information’s regarding stock trading. They provide free brokerage on equity delivering trading and gives an opportunity for the investor to trade on commodities at just Rs. 20 per order. We will give upstox 3.4 stars.

4. Angel Broking

Angel Broking is a full service stock broker in India. The account opening is free here however the they ask for Rs. 240 as AMC that is the Account Maintenance Charge.

You can get services at low brokerage rate alongwith advice for free investment offers great research tools. It provides free equity delivery and investment in Corporate bonds. They facilitate informed decision making on daily, weekly or monthly basis, although a difficult user interface. We have rated it 3.3 stars.

5. Groww

Groww is one of a leading discount stock broker in India in 2023, here also account opening is free and offers you investment in stocks, mutual funds, gold and fixed deposit.

The best part is that the AMC is free here. It provides commission free investment with simple user interface and facilitating an option to invest in US based stocks in the near future. They have got 3.7 stars.

6. ICICI Direct

ICICI Direct is a full-service broker with support from the leading ICICI groups. It offers free account opening and Rs. 700 as AMC alongwith research based financial advice on all assets. Stock tips and analysis are provided for free with “valid till cancelled “option with a validity of 45 days. Although the cost is high for call and trade.

7. Kotak Securities

Free account opening with Rs. 600 AMC. Kotak Securities is a full-service broker with huge investment options. The customers get daily alerts, market pointers, stocks, research report and can have PMS service alongwith foreign investment. Rated 3.1 stars.

8. HDFC Securities

A full-service broker under the India’s top private bank HDFC. Started in 2000, they have a journey to the top with 250+ branches.

HDFC Securities provide free account opening charge with free AMC. They have portfolio tracking system and their brand name is enough to include them in this list. It is rated 3.1 stars.

9. IIFL Securities

It is a leading full-service stock broker with wide range of services as free search for equity share, mutual fund and allow trading in equity, commodity and currency.

They allow margin funding with deposited currency as collateral. IIFL Securities offer free account opening with Rs. 250 as AMC. Rated 2.8 stars.

10. Motilal Oswal

Another full-service broker with wide range of investment, free calls and trading services. Motiwal Oswal provide free account opening and Rs. 199 as AMC. They provide great understanding of stocks and others by machine learning and deep insights specifically for traders. They even have different trading platform for investors and traders. They have overall 3.8 stars.


 the article provides valuable insights into the top stock brokers in India in 2023, based on the number of active clients they have. 5paisa, Zerodha, Upstox, Angel Broking, Groww, ICICI Direct, Kotak Securities, HDFC Securities, IIFL Securities, and Motilal Oswal emerge as the leading stock brokers in the country.

Each of these brokers offers unique features, services, and brokerage charges to cater to the diverse needs of retail customers in the stock market.

While Zerodha stands out as the best trading platform with its advanced technology and low brokerage fees, other brokers like Upstox, Groww, and ICICI Direct also offer competitive services and have garnered significant popularity among investors.

It is essential for investors to carefully evaluate their specific requirements and preferences before selecting the most suitable stock broker for their investment journey.

With the ever-evolving financial landscape, staying informed about the offerings of these top stock brokers will empower investors to make well-informed decisions and navigate the stock market with confidence.