Top 10 largest stock brokers in India by active clients in 2025

Let’s briefly discuss each of these leading stock brokers and why they’re unique in the market.

Groww Invest Tech Private Limited

• Established: 2016
• Complaints received: 834
• Complaints resolved: 814

Groww is a user-friendly online broker platform based in Bangalore, and it is one of the best choices for beginners. It was founded in 2016 by four Flipkart co-workers. Initially playing catchup to Zerodha, the platform has overtaken the brand, already has over 9.5 million active members and offers a flat fee of ₹20 per exchange for futures and options (F&O) and equity brokerage. Its platform allows users to invest in direct mutual funds, stocks, ETFs, and IPOs seamlessly, making it a leading stock broker in the country.

Also Read: Groww: Making investing as easy as ecommerce

Zerodha Broking Limited

• Established: 2010
• Complaints received: 567
• Complaints resolved: 546

Next on the list of the top 10 stock brokers is Zerodha, one of India’s most popular platforms for investing in derivatives, mutual funds, stocks, bonds, ETFs, and more. With around 7.2 million active clients, the platform has recorded around ₹4.5+ lakh crores of equity investments and contributes to 15 percent of daily retail exchange volumes in the country. All direct mutual funds and equity delivery investments are free of cost, attracting a vast user base.

Also Read: The curious case study of Zerodha's blue ocean strategy

Angel One Limited

• Established: 1996
• Complaints received: 1203
• Complaints resolved: 1140

Angel One stands out as a full-service, top-10 stock broker providing discounted trading rates. It offers zero brokerage up to ₹500 for the first month for stocks, intraday trading, and F&O. This established platform supports various investment options, including stocks, IPO, commodities, mutual funds, F&O, and US stock. With its advanced trading tools, Angel One stands third in India's list of top stock brokers. 

Upstox Securities Private Limited

• Established: 2009
• Complaints received: 299
• Complaints resolved: 290

Upstox has long been one of the leading stock brokers in India, offering investments in mutual funds, IPOs, and F&Os. It appeals to cost-conscious investors with a flat fee of ₹20 on equity intraday, F&O, currency & commodity, and high complaints resolutions. Upstox has over 6.1 million active clients and provides access to advanced tools and charts in the global markets, allowing users to diversify their portfolios effectively.

Also Read: The good, bad and ugly of stock trade training courses

ICICI Securities Limited

• Established: 1995
• Complaints received: 971
• Complaints resolved: 932

ICICI Securities is a leading financial services firm in India. It is known for its secure trading platform, which offers equity investment and trading, F&O, margin trading, SIPs, fixed-income, and global opportunities. ICICI's strong brand reputation and market experience make it a preferred choice for investors. In the IPO alone, ICICI closed transactions worth ₹33.4+ crore from 31 deals.

Kotak Securities Limited

• Established: 1994
• Complaints received: 610
• Complaints resolved: 598

Kotak Securities is a well-established brokerage firm offering multiple investment options, like margin trading, exchange-traded funds, mutual funds, tax-free bonds, Sovereign gold bonds, and non-convertible debentures. A fee of ₹10 is applicable on each order brokerage on intraday and F&O trades. ​It stands out for its research-driven approach and personalised customer service.

Also Read: Big trading days: Online brokers disappoint

HDFC Securities Limited

• Established: 2000
• Complaints received: 283
• Complaints resolved: 273

HDFC Securities combines the strength of HDFC Bank with firm trading services. Its digital platform offers access to equities, derivatives, mutual funds, and fixed income. With its strong customer support, complaint resolution, and resources, HDFC Securities helps investors navigate the complexities of the financial market easily. Its reputation for reliability and security pushes it among the best brokers for trading in India.

Motilal Oswal Financial Services Limited

• Established: 1987
• Complaints received: 498
• Complaints resolved: 492

With over three decades of experience, Motilal Oswal offers investment solutions in private and institutional equities, stock investments, mutual funds, and portfolio management services. Their user-friendly online trading platform, backed by in-depth analysis and innovative tools like Research 360 (R360), helps investors to invest and trade confidently in the volatile market.

SBICAP Securities Limited

• Established: 1986
• Complaints received: 212
• Complaints resolved: 206

As a subsidiary of the State Bank of India, SBI Securities provides a secure and efficient platform and is one of the best brokers for trading derivatives, equity, and ETFs. Traders can also explore options like mutual funds, loans, and demat accounts and buy up to 4X shares at zero percent interest. With 8,63,824 active clients, the platform prioritises data security and offers various features to meet investors' diverse needs.

Paytm Money Limited

• Established: 2010
• Complaints received: 188
• Complaints resolved: 176

With its investor-first approach, Paytm Money ranks tenth on the list of top stock brokers in India. It focuses on F&O and equity trading, depository services, and IPO investments. As one of the leading stock brokers, it is also registered with PFRDA as a Point of Presence and offers investment options in the National Pension Scheme (NPS).

Frequently Asked Questions (FAQs)

1. What differentiates discount brokers from full-service brokers?

Discount brokers execute trades at lower or discounted rates, whereas full-service brokers charge higher fees and offer full investment services.

2. Can I open a Demat account with multiple stock broking companies?

Yes, you can have demat accounts with different stock broking companies. Doing so allows you to invest in multiple assets and diversify your portfolio.

3. Can NRIs (Non-Resident Indians) invest in the Indian stock market through these brokers?

Yes, NRIs can invest in the Indian stock market through the NSE and the Bombay Stock Exchange (BSE). NRIs must have a Non-Resident External (NRE) account under the Portfolio Investment NRI Scheme (PINS) or use a Non-Resident Ordinary (NRO) account for investments.