In this blog, we will talk about the best brokerage in India. Before you start reading this blog. I would like to request you to do your research and then invest in any brokerage app in India.
There are various brokerage apps available in the Indian market but we will look at the best top brokerage app in India. If you are a beginner then you are absolutely at the right place. This write-up will also give you information about the best trading app for beginners in India.
Kite by Zerodha
Kite by Zerodha trading app is considered one of the best brokerage app in India and it has the highest subscribers base.
FACT- Do you know Zerodha is declared as a unicorn in FY-2020?
The interface of Kite is easy to understand and it also provides good customer support as compared to other players in the market. You can invest in Equity, Commodity, Currency, Futures, and Options through this broker.
| Advantages | Disadvantages |
|---|---|
| Zerodha is a self-clearing broker which means that they don’t recover clearing charges from customers. | Zerodha’s call & trade charges are more as compared to other brokers |
| They provide only Direct Plans for Mutual Fund investments. | NRI Account opening can be done only through an offline process. |
| Bonds & G-securities can also be invested. | Every investment instrument, they have a different platform like Kite for shares, Coin for mutual funds, Golden Pi for bonds, etc. |
| Provides free stock market lessons and financial education for everyone. | Response from customer support can be delayed. Due to a huge customer base, software glitches happen at certain times. |
Maintenance and charges
- Account opening charges- Rs300
- Account Maintenance charges-Rs300
- Call and Trade charges- Rs-50 {per order}
Upstox
The 2nd most trusted and best brokerage app in India is Upstox.
FACT- Do you know Ratan Tata holds a 1.3% stake in Upstox? The features are quite similar compared to the Zerodha trading app, both are considered the best brokerage app in India.
One best thing about Upstox is they provide the last 10 years’ data of the company which helps customers to understand the company batter and they can invest easily.
You can trade in Equity, Commodity, Currency, Futures, and Options through this broker.
| Advantages | Disadvantages |
|---|---|
| They have morning newsletters on market talks for free to know the market recap. | Margin exposure is limited in the priority plan. |
| Free equity delivery brokerage on each plan. | Customers have to be careful while selecting a mutual fund as both direct and regular plans are offered. |
| There are many technical indicators for traders. | In the basic plan, every customer has to pay the Demat Transaction Charges which are comparatively higher. |
| Upstox is funded by Ratan Tata which adds trust/ reliability to the RKSV group. | Extra 20 per executed order is charged for Intraday square orders when they are not squared off by the customer. |
Maintenance and charges
- Account opening charges- Free
- Account Maintenance charges-Rs300
- Call and Trade charges- Rs-20 {per order}
Angel Broking
Dinesh D. Thakkar is the owner of Angel Broking and Vinay Agrawal was the first CEO of Angel Broking started in 1996 and is considered the 3rd best brokerage app in India. Now Angel Broking is known by the name Angel One. They launched their app in 2011 a year before Zerodha came into the Indian brokerage market.
With the help of Angel One, you can easily trade in Equity, Commodity, Currency, Futures, and Options with this trader.
One of the best advantages of Angel One is their maintenance charges are low as compared to other players in the market.
| Advantages | Disadvantages |
|---|---|
| Provides Full-service brokerage services at low brokerage fees. | Call & Trade is charged for an extra ₹20 per executed order. |
| Offers free investment advisory and research tools to the customers. | One should not expect excellent customer support. |
| Provides event-based daily, weekly and monthly reports to facilitate informed decision making. | The mobile interface is difficult to understand. |
| Provides free equity delivery. | Provides only regular Mutual Fund plans. |
Maintenance and charges
- Account opening charges- Free
- Account Maintenance charges-Rs240
- Call and Trade charges- Rs-20 {per order}
5Paisa
5Paisa was started in the year 2016 by Prakash Gagdani’s headquarters based in Mumbai. 5paisa is considered one of the fastest-growing top brokerage app in India.
FACT- Do you know it has over 1.5 lakh retail customers and is registered with SEBI, CDSL, BSE, NSE, MCX, and NCDEX?
One of the best advantages of 5paisa is their maintenance charges are very low as compared to other Rs45 per month. you can easily trade in Equity, Commodity, Currency, Futures, and Options with this trader.
| Advantages | Disadvantages |
|---|---|
| IIFL Group, which is a premier Indian NBFC with experience of over 2 decades, is the promoter of 5paisa. | High Demat transaction charges. |
| Provides an option to choose from 2 Subscription plans as per your trading needs. | Higher exchange transaction charges in comparison with other discount brokers. |
| Offers free technical, derivative, and fundamental research with an advanced trading platform for traders. | Call & Trade is available at a high additional cost. |
| Provides free equity delivery. | 5paisa does not offer NRI trading services. |
| Promotions of other products on the website. | |
| Call & Trade service is chargeable even if the mobile application is not working. |
Maintenance and charges
- Account opening charges- Free
- Account Maintenance charges-Rs45
- Call and Trade charges- Rs-100 {per order}
- Plan Charges- 499 per month (for 12 months-Rs5,988)
Motilal Oswal
Motilal Oswal is a subsidiary of Motilal Oswal Financial Services. It was founded by Raamdeo Agrawal in 1987.
They are one of the oldest players in the market and are considered one of India’s most trusted brokerage apps. you can easily trade in Equity, Commodity, Currency, Futures, and Options with this trader.
| Advantages | Disadvantages |
|---|---|
| Free call and trade services. | Does not offer flat brokerage or discount brokerage plans. |
| Get in-depth stock or scheme analysis and recommendations for free. | Only regular plans are offered in mutual funds. |
| ‘Trend guiding tool’ provides combined strength of AI, Machine learning, and deep industry insights specifically designed for traders. | For different investment services, an additional fee is required. |
| Differentiated trading platforms for traders and investors. |
Maintenance and charges
- Account opening charges- Free
- Account Maintenance charges-Free
- Call and Trade charges- Free
- Plan Charges- 2500
Axis Direct
Axis Direct is a subsidiary of Axis bank. It was launched in the year 2011.
They have 2,100+ employees in the Axis Direct subsidiary. You can easily trade-in concerning Equity, Commodity, Currency, Futures, and Options with this trader.
FACT-Do you know they launched their IPO in FY-2020?
They are considered one of the best brokerage apps in India and trusted because of their parent company Axis bank. Their charges are quite high as compared to other players in the market.
| Advantages | Disadvantages |
|---|---|
| The provision of 3 in 1 account facilities provides users with a smooth and flawless trading experience. | Brokerage, account opening costs and maintenance charges are very high compared to other brokers. |
| Free and quality research reports to its customers. | Its terminal-based trading platform is a chargeable subscription-based platform. |
| Highly skilled relationship managers help investors by solving their queries. | |
| With ‘Fantastic learning, Axis Direct offers free seminars, tutorials, webinars, etc. to users. | |
| Enjoys brand equity and trust because of its banking service provider, AXIS bank |
Maintenance and charges
- Account opening charges- Free
- Account Maintenance charges-Rs 790 per annum
- Call and Trade charges- Free
- Plan Charges- Rs 5555 one time
Kotak Securities
Kotak Securities is a subsidiary of Kotak Mahindra bank. It was founded in the year 1990.
They have trusted brokers in the market and are considered one of the best brokers in the Indian market because of their parent company Kotak Mahindra bank.
| Advantages | Disadvantages |
|---|---|
| Kotak Securities provides a wide range of investment options. | Account opening charges are higher as compared to other full-service brokers and the brokerage charges are also high with respect to investors. |
| Provides daily alerts, market pointers, research reports, stock recommendations, etc. to the customers. | Call & Trade charges vary depending on the frequency of investing. |
| They also provide PMS services & foreign investment. | A minimum amount has to be compulsorily deposited upon opening the account. |
| NRIs can also open an account with Kotak Securities. |
Maintenance and charges
- Account opening charges- Free
- Account Maintenance charges-Rs600 per annum
- Call and Trade charges- Rs50 per order
- Plan Charges- Rs1179 per annum
Groww
Groww was started in the year 2016 by Lalit Keshre. You can only deal with inequity with this brokerage app you can not trade in commodities, currency, futures, and options.
They do not provide customer support service. With the help of Groww, you can invest in the US stock market. If you are looking to invest in the US stock market then you should go with Groww.
| Advantages | Disadvantages |
|---|---|
| Commission-free investment for customers. | Limited range of products available for investors. Products like commodities and derivatives are currently not available. |
| Opening a trading and Demat account is quick and easy. Only the Aadhar Card is required for e-sign-up. | Availing customer support can be tricky. Only e-mail facilities are available. |
| Simple and intuitive User Interface. | Users face difficulty in analyzing funds technically as the option of in-depth and detailed analysis is not available. Maintenance and charges |
| They are coming up with an option to invest in US-based stocks. |
Maintenance and charges
- Account opening charges- Free
- Account Maintenance charges-Free
IIFL {India Infoline Financial services company}
IIFL is considered one of the best brokerage apps in India and is trusted as well. It was founded in the year 1995 by Rajamani Venkataraman and Rajamani Venkataraman.
One of the best features of IIFL is they provide you guest login without making any account which helps the trader experiences the app. You can easily trade in Equity, Commodity, Currency, Futures, and options with this trader. IIFL also can be considered the best trading app for beginners in INDIA.
| Advantages | Disadvantages |
|---|---|
| Being a full-service broker they have branches across India and abroad. | IIFL brokerage charges are very high in comparison to other stock brokers. |
| They provide free research reports for Equity shares and Mutual Fund recommendations. | They offer only Regular Plans in Mutual Funds. |
| For providing margin funding they also accept personal Fixed Deposits as collateral. | The minimum brokerage is high when compared to other brokers. |
| Customers can trade-in equity, commodity, and currency through a single platform. |
Maintenance and charges
- Account opening charges- Free
- Account Maintenance charges-Rs250
- Call and Trade charges-Rs 20 per order
Edelweiss
Edelweiss Broking Limited is a part of the Edelweiss Group. Edelweiss was started in the year 2008.
If you are a beginner or intermediate is the best broker app for you. It is easy to use and its UI/UX design is also amazing.
| Advantages | Disadvantages |
|---|---|
| Full-service broker offering discount brokerage plans. | Charges high minimum brokerage in delivery, Intraday, and Futures. |
| Flat rates per executed order across all the trading segments in the Lite plan. | Call & Trade is available for an additional cost in the Lite plan. |
| Provides free research, trading tips, and recommendations. | Additional costs for research calls and trading tips. |
| They have an offline presence through branches and franchises which makes it convenient for customers. | They do not provide a platform for commodity options. |
| Relationship managers and add-on services like PMS are available. |
Maintenance and charges
- Account opening charges- Free
- Account Maintenance charges-Rs300
- Call and Trade charges-Rs 20 per order
final words
Above is the list of best brokerage apps in India along with the best trading app for beginners in INDIA with which you can trade in the Indian market. If you are extremely serious about trading then you should go with Zerodha. Their features and customer support are good and they can be trusted.
FAQ’S
Best brokerage app in India 2024 for beginners?
The best brokerage app in India for beginners is IIFL {India Infoline
Financial services company}
Which brokerage is best in India?
The above list is the top 10 brokerage app in India you can choose
any one of them
Best brokerage app in India to earn money?
The best brokerage app in India to earn money is Groww
Best brokerage app in India with low investment?
Angel broking is the best brokerage app in India with low investment
Best brokerage app in India with no brokerage?
Kotak securities are the best brokerage app in India with no brokerage
