Stock markets are booming with new investors who are making the most of money-earning opportunities from stocks, options, and futures. One question that comes to every new trader/investor is the stockbroker which one must select amongst hundreds available in the market. Here is a list of top share brokers in India 2021 based on the number of active clientele they handle.
Zerodha is the undisputed leader among the 20 brokers shortlisted. Zerodha has been continuing this winning position since 2019. It has remained the top broker among all the stockbrokers in India in 2021. Zerodha is followed by Upstox, Angel Broking, ICICI Direct, and Groww.
There are 20 top stock brokers selection is based upon those having over 1 lakh active investors/traders. Here are the brokers ranking in 2021 as given in below table:
| S. No. | Stock Brokers | Active Clientele |
| 1 | Zerodha | 4,304,501 |
| 2 | Upstox | 3,027,803 |
| 3 | Angel Broking | 1,979,094 |
| 4 | ICICI Direct | 1,847,989 |
| 5 | Groww | 1,351,472 |
| 6 | 5Paisa | 1,002,020 |
| 7 | HDFC Securities | 970,651 |
| 8 | Kotak Securities | 787,723 |
| 9 | Sharekhan | 724,674 |
| 10 | Motilal Oswal | 650,404 |
| 11 | Axis Direct | 460,945 |
| 12 | SBI Securities | 345,410 |
| 13 | IIFL Securities | 324,853 |
| 14 | Geojit | 215,138 |
| 15 | Edelweiss | 165,052 |
| 16 | SMC Global | 144,151 |
| 17 | Alice Blue | 139,775 |
| 18 | Paytm Money | 139,099 |
| 19 | Religare | 137,877 |
| 20 | Reliance Securities | 125,472 |
Share brokers are registered and authorized members of stock exchanges viz., National Stock Exchange (NSE), Bombay Stock Exchange (BSE). These stockbrokers provide a platform and Demat service to their clients and execute trades on behalf of their clients.
There are hundreds of stockbrokers in India that provide stockbroking services to retail customers. These services may be financial advisory, investment options, research & reports, etc. On broader terms stockbrokers are categorized under 2 categories:
- Full-services brokers
- Discount Stock Brokers
Full-service brokers provide a full basket of services available that range from stock trading, research and advisory, wealth management, PMS, and local support.
Discount stock brokers are online brokers that offer a limited range of services, specialized only in stock and commodity trading services. Their services do not include options like research and advisory, PMS, wealth management, and branch support.
Examples of full-service brokers are ICICI Direct, Sharekhan, HDFC Securities, Sharekhan, Angel Broking, and Axis Bank.
Most popular discount stock brokers include Zerodha, 5paisa, and Upstox. Discount brokers have very well leveraged the technology and are providing excellent service to clients at a lower cost than full-service brokers.
Final take
Based on the list obtained from NSE and BSE exchange Zerodha is the top discount service broker and has maintained the top position for over 2 years. Although this list gets updated every month the same broker has stayed at the top continuously. To stay at the top one needs to provide innovative and good service consistently and Zerodha has been able to do that undoubtedly. We must be wary of brokerage and fees that every broker charges and our trade must be profitable enough to cover the charges. The lesser the brokerage more the profit. So, choose your broker wisely. One must choose from a popular broker as it is trusted by many. To open an account with Zerodha click here.
