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Top 10 Full Service Brokers in India 2023 - Best Brokers

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Top 10 most popular Full Service Brokers in India 2023

Full-service brokers are the best suited if you want expert advice and recommendations to select the right stock for investment. Among many brokers, ICICI Direct is the best full-service stock broker in India serving the highest number of customers over 19 lakh. Here, we have put together a list of 10 most popular or leading full-service brokers in India 2023.

Let’s briefly understand the meaning of full-service brokers and how does they work.

Full-Service Brokers Explained

As the name suggests, full-service brokerage houses offer an array of add-on services to customers. They not only provide an online platform for trading on exchange but also offer trading tips, equity investment recommendations, and research reports.

Also, they have a dedicated relationship manager to guide each customer to make the right investment decision.

Full-service brokers offer a complete wealth management solution including PMS, debt products, insurance, loans, and many more.

As most of them are bank-based brokers they offer a unique 3-in-1 account opening service that combines and integrates your trading, demat, and bank account into one.

For the value-added services and access to research & advisory, they charge a relatively higher brokerage fee than discount brokers.

Full-service stock brokerage firms charge a fixed percentage of trading value as brokerage fee say 0.10% of transaction value. For instance, if you have executed a trade worth Rs 1 lakh and your broker charges 0.10% brokerage fee, you will be charged with Rs 50 brokerage.

Also check, full-service brokers with flat brokerage plans, Link

Are you someone who is looking to trade with top full-service brokerage houses, here is a list of 10 best full-service share brokers in India with the highest number of active user base.

Benefits of full-service brokers over discount brokers

  • 3-in-1 account opening for seamless flow of funds between bank and trading account
  • Access to research reports
  • Trading tips
  • Equity investment recommendations
  • Dedicated personal relationship manager
  • Offline branch support
  • Desktop trading terminal for superfast trading experience

10 Best full-service brokers in India 2023 - Most Popular

Broker Clients Client Share Review Request Callback
ProstocksBest broker offering Monthly Plan @899.Prostocks ReviewOpen Account
ICICIDirect18,73,3605.52%ICICIDirect ReviewOpen Account
Kotak Securities10,24,4313.02%Kotak Securities ReviewOpen Account
Motilal Oswal7,91,8212.56%Motilal Oswal ReviewOpen Account
SBICAP Securities7,16,7462.11%SBICAP Securities ReviewOpen Account
Sharekhan6,17,2141.82%Sharekhan ReviewOpen Account
AxisDirect3,24,6030.96%AxisDirect ReviewOpen Account

Zerodha Trade@20

Want to start your investment journey, join India’s number one online broker – ZERODHA – Free Delivery Trade, Maximum Rs 20 for F&O and Intraday, Free Direct Mutual Fund investment.Open Zerodha Account

Geojit2,28,5360.67%Geojit ReviewOpen Account
SMC Global1,57,7450.47%SMC Global ReviewOpen Account

ICICI Direct, a part of ICICI Bank is the number one or leading full-service stock broker. The best part is it also has a flat brokerage trading plan which allows you to trade in options at Rs 20 flat fee while futures trading is free. So, you don’t even need to be worried about the high brokerage while trading with ICICI Direct.

Other popular full-service brokers are Kotak Securities, Motilal Oswal, and SBI Cap Securities.


ICICI Direct is one of the most prominent full-service stockbroking firms in India. Following are the key reasons to trade with ICICI Direct;

  1. An active clientele base of above 28 lakh customers
  2. 3-in-1 account opening facility (ICICI Trading + Demat + Bank Saving A/c).
  3. Multiple pricing models to suit traders' & investors' requirements
  4. Neo Zero Brokerage plan offers free futures trading and charges Rs. 20 flat brokerage in other segments.
  5. All kinds of trading platforms; ICICI Direct App, Website, and Trade Racer trading terminal
  6. One-click equity to invest in a theme-based portfolio.
  7. Equity and derivative research reports including trading & investing ideas.
  8. 750+ branches all over the country to offer offline services.
  9. Indian residents as well as NRI trading services.


Full-service brokers are traditional brokers or mostly bank-based brokers that offer online trading on BSE, NSE, and MCX along with add-on services such as research, trading tips, and more. Here are the top-notch benefits to trade with full-service brokers in India.

  • A dedicated in-house research team to provide research & advisory services
  • Various types of research reports; market research, sector research, company research, mutual fund research, IPO research, etc.
  • Stock trading tips & recommendations.
  • 3-in-1 account opening services to offer a seamless flow of funds between trading & bank accounts.
  • Offline branch-based customer support
  • Dedicated relationship manager to resolve customer queries.
  • NRI trading services.


Many factors affect the decision to select the best full-service stock brokerage firm. Here are the details;

  • Financial product offerings and diversity.
  • Research reports, depth of research, and research reliability
  • Stock market trading tips.
  • Branch network for offline support.
  • Trading platforms and features.
  • A dedicated relationship manager to offer personalized services


Kotak Securities, a part of Kotak Mahindra Bank, is ranked at the top 2nd full-service stock brokerage firm. The broker allows customers to open a Trinity account, a 3-in-1 account of Demat + Trading + Kotak Bank a/c to offer a seamless trading experience. Its Trade free Plan is popular among traders because of zero brokerage intraday trading while charging Rs. 20 flat brokerage on all F&O trades. The broker provides phenomenal trading platforms to customers, such as a trading website, Kotak Stock Trader mobile app, Kotak Trade Smart trading terminal, and Kotak Keat Pro X high-speed trading software.

If you are new to trading & investing, then it is the best broker to get the latest stock market research, trading recommendations, derivatives strategy, and currency & forex insights.


Motilal Oswal offers a complete package of trading & investment products such as retail broking, wealth management, asset management, private equity, currency broking, and investment banking. It has an active user base of above 8 lakh customers comprising retail clients, foreign institutional customers, and corporate clients. It is the best broker for research services in India, that offers market research, sector research, stock-specific research, thematic reports, and IPO research reports.

The broker has dedicated platforms to meet varied requirements of traders and investors. MO Trader App is a share trading app designed for advanced traders, whereas the MO Investor app is a stock market trading & investment app to invest in stocks, mutual funds, forex, and get research reports.

The broker has the largest network of branches, franchises, and sub-brokers across the country. The broker has a strong market presence of over 2200 locations in 500+ cities to serve customers in metro cities to small towns.


First-time traders or beginners or occasional traders/investors can open an account with full-service brokers. The reason is that these brokerage firms advise their clients on how, where and when to invest their money.

They also have professional experts who manage the client portfolio (PMS) to create wealth.

Investors looking for a one-stop shop to park their money in diversified investment products such as mutual funds, debentures, fixed deposits, bonds, and insurance products can approach full-service brokers.


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