Investing in the Indian stock market has become more accessible than ever, thanks to the diverse range of brokerage services available ,Comprehensive Guide to Indian Brokerage Services.Whether you are a seasoned trader seeking low-cost trading and advanced tools, or a new investor looking for personalized advice and comprehensive research, there’s a broker tailored to your needs.
Discount brokers like Zerodha, Upstox, and Groww cater to those who prioritize cost-effective trading and efficient execution. These brokers offer low fees, innovative trading platforms, and educational resources for traders to enhance their skills.
On the other hand, full-service brokers like ICICI Direct, HDFC Securities, and Sharekhan offer a more comprehensive approach, providing personalized services, in-depth research reports, and a wide array of investment products. While their fees are higher, they offer additional benefits such as relationship managers, detailed market analysis, and portfolio management services.
This guide offers a comparative analysis of various brokers, highlighting their services, account opening processes, required documentation, fees, investment choices, trading platforms, customer support, research resources, security measures, and unique features. This information empowers investors to make informed decisions based on their individual investment goals and trading preferences
| Broker | Brokerage Services | Account Opening Time | Required Documents | Fees & Commissions | Investment Choices | Trading Platform & Tools | Customer Service | Research & Education | Security | Additional Considerations | Download Link |
| Discount Brokers | |||||||||||
| Zerodha | ₹20 or 0.03% (lower) per executed order | Instant (online) | PAN, Aadhaar, Bank Account Proof, Signature Proof | Low brokerage | Equity, F&O, Commodity, Currency, MF, IPO, Bonds | Kite (web, mobile) | Online chat, email, phone, community forum | Console, TradingQ&A, Varsity | 2FA, Biometric login | Active user community, educational resources | |
| Upstox | ₹20 or 0.05% (lower) per executed order | Instant (online) | PAN, Aadhaar, Bank Account Proof, Signature Proof | Low brokerage | Equity, F&O, Commodity, Currency, MF, IPO | Pro Web, Upstox (mobile) | Online chat, email, phone | Charting tools, market news | 2FA, Biometric login | User-friendly mobile app | https://link.upstox.com/Xkds19UuP8khvULP7 |
| Groww | ₹20 or 0.05% (lower) per executed order | Instant (online) | PAN, Aadhaar, Bank Account Proof, Signature Proof | Low brokerage | Equity, MF, IPO, US Stocks, Gold | Groww (web, mobile) | Online chat, email, phone | Groww University | 2FA, Biometric login | Beginner-friendly, SIPs | https://app.groww.in/v3cO/uylp8nvt |
| Angel One | ₹20 per executed order | Instant (online) | PAN, Aadhaar, Bank Account Proof, Signature Proof | Low brokerage | Equity, F&O, Commodity, Currency, MF, IPO, Bonds, Insurance | Angel One (web, mobile), ARQ Prime (for HNI) | Online chat, email, phone, branch offices | SmartAPI, research reports | 2FA, Biometric login | Wide range of investment options | https://sales.gromo.in/sell-now?productCode=ANGEL_ONE&journeyId=1&shortCode=o5fXnurpJpCDMAxIAIpv_&subCode=br&productTypeId=229&productType=Demat%20Account |
| 5Paisa | ₹20 per executed order | Instant (online) | PAN, Aadhaar, Bank Account Proof, Signature Proof | Low brokerage | Equity, F&O, Commodity, Currency, MF, IPO, Insurance | 5Paisa (web, mobile) | Online chat, email, phone | Market news, tips | 2FA, Biometric login | Robo advisory, thematic baskets | https://sales.gromo.in/sell-now?productCode=ANGEL_ONE&journeyId=1&shortCode=o5fXnurpJpCDMAxIAIpv_&subCode=br&productTypeId=229&productType=Demat%20Account |
| Dhan | ₹20 or 0.03% (lower) per executed order | Instant (online) | PAN, Aadhaar, Bank Account Proof, Signature Proof | Low brokerage | Equity, F&O, Commodity, Currency | Dhan (web, mobile) | Online chat, email, phone | Technical analysis tools, market insights | 2FA, Biometric login | Advanced charting tools, options trading strategies | https://join.dhan.co/?invite=MSLJL02932 |
| M Stock | ₹20 per executed order | Instant (online) | PAN, Aadhaar, Bank Account Proof, Signature Proof | Low brokerage | Equity, F&O, Currency | M Stock (web, mobile) | Online chat, email, phone | Market news, tips | 2FA | No Demat AMC, user-friendly interface | https://sales.gromo.in/sell-now?productCode=MSTOCKS_DA&journeyId=1&shortCode=o5fXnurpJpCDMAxIAIpv_&subCode=br&productTypeId=253&productType=Demat%20Account |
| Share.Market | Free for delivery, ₹20 or 0.05% (lower) for intraday | Instant (online) | PAN, Aadhaar, Bank Account Proof, Signature Proof | Zero brokerage for delivery | Equity, F&O, Currency | Sharekhan (web, mobile) | Online chat, email, phone | Market news, tips | 2FA | Zero brokerage for delivery, referral program | https://leads.banksathi.com/?h=Q01MaXdaaGoyMVNTMG9WeTJ2M3ZZZz09 |
| Full-Service Brokers | |||||||||||
| ICICI Direct | Brokerage varies based on plan and segment | 1-2 days | PAN, Aadhaar, Bank Account Proof, Signature Proof, Income Proof | Higher brokerage | Equity, F&O, Commodity, Currency, MF, IPO, Bonds, NCD, Insurance, PMS | Trade Racer (web), ICICIdirect (mobile) | Relationship Manager, online chat, email, phone, branch offices | Research reports, market calls, model portfolios | 2FA, OTP | 3-in-1 account (bank, demat, trading) | |
| HDFC Securities | Brokerage varies based on plan and segment | 1-2 days | PAN, Aadhaar, Bank Account Proof, Signature Proof, Income Proof | Higher brokerage | Equity, F&O, Commodity, Currency, MF, IPO, Bonds, NCD, Insurance, PMS | ProTerminal (web), HDFC Securities (mobile) | Relationship Manager, online chat, email, phone, branch offices | Research reports, market calls, model portfolios | 2FA, OTP | Extensive research offerings, portfolio management services | |
| Sharekhan | Brokerage varies based on plan and segment | 1-2 days | PAN, Aadhaar, Bank Account Proof, Signature Proof, Income Proof | Higher brokerage | Equity, F&O, Commodity, Currency, MF, IPO, Bonds, NCD, Insurance, PMS | TradeTiger (web, mobile) | Relationship Manager, online chat, email, phone, branch offices | Research reports, market calls, model portfolios | 2FA, OTP | Personalized advice, dedicated dealer support | https://www.sharekhan.com/ref/account?param=2dljyvdm |
| Motilal Oswal | Brokerage varies based on plan and segment | 1-2 days | PAN, Aadhaar, Bank Account Proof, Signature Proof, Income Proof | Higher brokerage | Equity, F&O, Commodity, Currency, MF, IPO, Bonds, NCD, Insurance, PMS | MO Trader (web, mobile) | Relationship Manager, online chat, email, phone, branch offices | Research reports, MO Investor app | 2FA, OTP | Personalized advice, strong research focus | https://prd.motilaloswal.com/PRAN/FranchiseeRefferal/RaLead/J!!j2HAKVaepuEALk@@aFkxt8oAlXGNKk!!qvXo8rr01k@@mpviXmA8CYAv8jxWoHP730YBsmRRxx2tge8cG!!2OjMQ== |
| Kotak Securities | Brokerage varies based on plan and segment | 1-2 days | PAN, Aadhaar, Bank Account Proof, Signature Proof, Income Proof | Higher brokerage | Equity, F&O, Commodity, Currency, MF, IPO, Bonds, NCD, Insurance, PMS | KEAT Pro X (web), Kotak Stock Trader (mobile) | Relationship Manager, online chat, email, phone, branch offices | Research reports, market calls | 2FA, OTP | 3-in-1 account, wide range of investment products | https://KotakSecurities.ref-r.com/c/i/32531/104950876 |
| AxisDirect | Brokerage varies based on plan and segment | 1-2 days | PAN, Aadhaar, Bank Account Proof, Signature Proof, Income Proof | Higher brokerage | Equity, F&O, Commodity, Currency, MF, IPO, Bonds, NCD, Insurance, PMS | AxisDirect (web, mobile) | Relationship Manager, online chat, email, phone, branch offices | Research reports, market calls | 2FA, OTP | 3-in-1 account, thematic investments | |
| Bajaj Financial Securities | Brokerage varies based on plan and segment | 1-2 days | PAN, Aadhaar, Bank Account Proof, Signature Proof, Income Proof | Higher brokerage | Equity, F&O, Commodity, Currency, MF, IPO, Bonds, NCD, Insurance | BFS Direct (web, mobile) | Relationship Manager, online chat, email, phone, branch offices | Research reports, market calls | 2FA, OTP | 3-in-1 account, personalized advice | https://leads.banksathi.com/?h=YnF4K09IbjU4OE1lZmo4dkxyVng1QT09 |
| Nuvama (Edelweiss) | Brokerage varies based on plan and segment | 1-2 days | PAN, Aadhaar, Bank Account Proof, Signature Proof, Income Proof | Higher brokerage | Equity, F&O, Commodity, Currency, MF, IPO, Bonds, NCD, Insurance, PMS | Nuvama (web, mobile) | Relationship Manager, online chat, email, phone, branch offices | Research reports, market calls | 2FA, OTP | Wide range of research and advisory services | |
| Paytm Money | ₹15 per executed order | Instant (online) | PAN, Aadhaar, Bank Account Proof, Signature Proof | Low brokerage | Equity, MF, IPO, NPS | Paytm Money (web, mobile) | Online chat, email, phone | Market news, educational content | 2FA | Integrated with Paytm app, easy to use | https://sales.gromo.in/sell-now?productCode=PAYTM-MONEY&journeyId=1&shortCode=o5fXnurpJpCDMAxIAIpv_&subCode=br&productTypeId=205&productType=Demat%20Account |
Comprehensive Guide to Indian Brokerage Services:
Discount Brokers
Zerodha
- Brokerage Services: ₹20 or 0.03% (whichever is lower) per executed order
- Account Opening Time: Instant (online)
- Required Documents: PAN, Aadhaar, Bank Account Proof, Signature Proof
- Fees & Commissions: Low brokerage
- Investment Choices: Equity, F&O, Commodity, Currency, MF, IPO, Bonds
- Trading Platform & Tools: Kite (web, mobile)
- Customer Service: Online chat, email, phone, community forum
- Research & Education: Console, TradingQ&A, Varsity
- Security: 2FA, Biometric login
- Additional Considerations: Active user community, educational resources
Upstox
- Brokerage Services: ₹20 or 0.05% (whichever is lower) per executed order
- Account Opening Time: Instant (online)
- Required Documents: PAN, Aadhaar, Bank Account Proof, Signature Proof
- Fees & Commissions: Low brokerage
- Investment Choices: Equity, F&O, Commodity, Currency, MF, IPO
- Trading Platform & Tools: Pro Web, Upstox (mobile)
- Customer Service: Online chat, email, phone
- Research & Education: Charting tools, market news
- Security: 2FA, Biometric login
- Additional Considerations: User-friendly mobile app
Groww
- Brokerage Services: ₹20 or 0.05% (whichever is lower) per executed order
- Account Opening Time: Instant (online)
- Required Documents: PAN, Aadhaar, Bank Account Proof, Signature Proof
- Fees & Commissions: Low brokerage
- Investment Choices: Equity, MF, IPO, US Stocks, Gold
- Trading Platform & Tools: Groww (web, mobile)
- Customer Service: Online chat, email, phone
- Research & Education: Groww University
- Security: 2FA, Biometric login
- Additional Considerations: Beginner-friendly, SIPs
Angel One
- Brokerage Services: ₹20 per executed order
- Account Opening Time: Instant (online)
- Required Documents: PAN, Aadhaar, Bank Account Proof, Signature Proof
- Fees & Commissions: Low brokerage
- Investment Choices: Equity, F&O, Commodity, Currency, MF, IPO, Bonds, Insurance
- Trading Platform & Tools: Angel One (web, mobile), ARQ Prime (for HNI)
- Customer Service: Online chat, email, phone, branch offices
- Research & Education: SmartAPI, research reports
- Security: 2FA, Biometric login
- Additional Considerations: Wide range of investment options
5Paisa
- Brokerage Services: ₹20 per executed order
- Account Opening Time: Instant (online)
- Required Documents: PAN, Aadhaar, Bank Account Proof, Signature Proof
- Fees & Commissions: Low brokerage
- Investment Choices: Equity, F&O, Commodity, Currency, MF, IPO, Insurance
- Trading Platform & Tools: 5Paisa (web, mobile)
- Customer Service: Online chat, email, phone
- Research & Education: Market news, tips
- Security: 2FA, Biometric login
- Additional Considerations: Robo advisory, thematic baskets
Dhan
- Brokerage Services: ₹20 or 0.03% (whichever is lower) per executed order
- Account Opening Time: Instant (online)
- Required Documents: PAN, Aadhaar, Bank Account Proof, Signature Proof
- Fees & Commissions: Low brokerage
- Investment Choices: Equity, F&O, Commodity, Currency
- Trading Platform & Tools: Dhan (web, mobile)
- Customer Service: Online chat, email, phone
- Research & Education: Technical analysis tools, market insights
- Security: 2FA, Biometric login
- Additional Considerations: Advanced charting tools, options trading strategies
M Stock
- Brokerage Services: ₹20 per executed order
- Account Opening Time: Instant (online)
- Required Documents: PAN, Aadhaar, Bank Account Proof, Signature Proof
- Fees & Commissions: Low brokerage
- Investment Choices: Equity, F&O, Currency
- Trading Platform & Tools: M Stock (web, mobile)
- Customer Service: Online chat, email, phone
- Research & Education: Market news, tips
- Security: 2FA
- Additional Considerations: No Demat AMC, user-friendly interface
Share.Market
- Brokerage Services: Free for delivery, ₹20 or 0.05% (whichever is lower) for intraday
- Account Opening Time: Instant (online)
- Required Documents: PAN, Aadhaar, Bank Account Proof, Signature Proof
- Fees & Commissions: Zero brokerage for delivery
- Investment Choices: Equity, F&O, Currency
- Trading Platform & Tools: Sharekhan (web, mobile)
- Customer Service: Online chat, email, phone
- Research & Education: Market news, tips
- Security: 2FA
- Additional Considerations: Zero brokerage for delivery, referral program
Comprehensive Guide to Indian Brokerage Services:
Full-Service Brokers
ICICI Direct
- Brokerage Services: Varies based on plan and segment
- Account Opening Time: 1-2 days
- Required Documents: PAN, Aadhaar, Bank Account Proof, Signature Proof, Income Proof
- Fees & Commissions: Higher brokerage
- Investment Choices: Equity, F&O, Commodity, Currency, MF, IPO, Bonds, NCD, Insurance, PMS
- Trading Platform & Tools: Trade Racer (web), ICICIdirect (mobile)
- Customer Service: Relationship Manager, online chat, email, phone, branch offices
- Research & Education: Research reports, market calls, model portfolios
- Security: 2FA, OTP
- Additional Considerations: 3-in-1 account (bank, demat, trading)
HDFC Securities
- Brokerage Services: Varies based on plan and segment
- Account Opening Time: 1-2 days
- Required Documents: PAN, Aadhaar, Bank Account Proof, Signature Proof, Income Proof
- Fees & Commissions: Higher brokerage
- Investment Choices: Equity, F&O, Commodity, Currency, MF, IPO, Bonds, NCD, Insurance, PMS
- Trading Platform & Tools: ProTerminal (web), HDFC Securities (mobile)
- Customer Service: Relationship Manager, online chat, email, phone, branch offices
- Research & Education: Research reports, market calls, model portfolios
- Security: 2FA, OTP
- Additional Considerations: Extensive research offerings, portfolio management services
Sharekhan
- Brokerage Services: Varies based on plan and segment
- Account Opening Time: 1-2 days
- Required Documents: PAN, Aadhaar, Bank Account Proof, Signature Proof, Income Proof
- Fees & Commissions: Higher brokerage
- Investment Choices: Equity, F&O, Commodity, Currency, MF, IPO, Bonds, NCD, Insurance, PMS
- Trading Platform & Tools: TradeTiger (web, mobile)
- Customer Service: Relationship Manager, online chat, email, phone, branch offices
- Research & Education: Research reports, market calls, model portfolios
- Security: 2FA, OTP
- Additional Considerations: Personalized advice, dedicated dealer support
Motilal Oswal
- Brokerage Services: Varies based on plan and segment
- Account Opening Time: 1-2 days
- Required Documents: PAN, Aadhaar, Bank Account Proof, Signature Proof, Income Proof
- Fees & Commissions: Higher brokerage
- Investment Choices: Equity, F&O, Commodity, Currency, MF, IPO, Bonds, NCD, Insurance, PMS
- Trading Platform & Tools: MO Trader (web, mobile)
- Customer Service: Relationship Manager, online chat, email, phone, branch offices
- Research & Education: Research reports, MO Investor app
- Security: 2FA, OTP
- Additional Considerations: Personalized advice, strong research focus
Kotak Securities
- Brokerage Services: Varies based on plan and segment
- Account Opening Time: 1-2 days
- Required Documents: PAN, Aadhaar, Bank Account Proof, Signature Proof, Income Proof
- Fees & Commissions: Higher brokerage
- Investment Choices: Equity, F&O, Commodity, Currency, MF, IPO, Bonds, NCD, Insurance, PMS
- Trading Platform & Tools: KEAT Pro X (web), Kotak Stock Trader (mobile)
- Customer Service: Relationship Manager, online chat, email, phone, branch offices
- Research & Education: Research reports, market calls
- Security: 2FA, OTP
- Additional Considerations: 3-in-1 account, wide range of investment products
AxisDirect
- Brokerage Services: Varies based on plan and segment
- Account Opening Time: 1-2 days
- Required Documents: PAN, Aadhaar, Bank Account Proof, Signature Proof, Income Proof
- Fees & Commissions: Higher brokerage
- Investment Choices: Equity, F&O, Commodity, Currency, MF, IPO, Bonds, NCD, Insurance, PMS
- Trading Platform & Tools: AxisDirect (web, mobile)
- Customer Service: Relationship Manager, online chat, email, phone, branch offices
- Research & Education: Research reports, market calls
- Security: 2FA, OTP
- Additional Considerations: 3-in-1 account, thematic investments
Bajaj Financial Securities
- Brokerage Services: Varies based on plan and segment
- Account Opening Time: 1-2 days
- Required Documents: PAN, Aadhaar, Bank Account Proof, Signature Proof, Income Proof
- Fees & Commissions: Higher brokerage
- Investment Choices: Equity, F&O, Commodity, Currency, MF, IPO, Bonds, NCD, Insurance
- Trading Platform & Tools: BFS Direct (web, mobile)
- Customer Service: Relationship Manager, online chat, email, phone, branch offices
- Research & Education: Research reports, market calls
- Security: 2FA, OTP
- Additional Considerations: 3-in-1 account, personalized advice
Nuvama (Edelweiss)
- Brokerage Services: Varies based on plan and segment
- Account Opening Time: 1-2 days
- Required Documents: PAN, Aadhaar, Bank Account Proof, Signature Proof, Income Proof
- Fees & Commissions: Higher brokerage
- Investment Choices: Equity, F&O, Commodity, Currency, MF, IPO, Bonds, NCD, Insurance, PMS
- Trading Platform & Tools: Nuvama (web, mobile)
- Customer Service: Relationship Manager, online chat, email, phone, branch offices
- Research & Education: Research reports, market calls
- Security: 2FA, OTP
- Additional Considerations: Wide range of research and advisory services
Paytm Money
- Brokerage Services: ₹15 per executed order
- Account Opening Time: Instant (online)
- Required Documents: PAN, Aadhaar, Bank Account Proof, Signature Proof
- Fees & Commissions: Low brokerage
- Investment Choices: Equity, MF, IPO, NPS
- Trading Platform & Tools: Paytm Money (web, mobile)
- Customer Service: Online chat, email, phone
- Research & Education: Market news, educational content
- Security: 2FA
- Additional Considerations: Integrated with Paytm app, easy to use
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