FREE Account Opening + Zero AMC Fees* + MutualFund SIP1

Top 10 Stock Brokers in India 2023

Report List >
Top 10 Best or Most Popular Stock Brokers in India 2023

Groww and Zerodha are the top-rated discount brokers with highest customer base whereas ICICI Direct is the most popular full-service share broker. Here’s a list of the 10 best stock brokers in India 2023.

Among hundreds of registered stock brokers in India, more than 50% of market share is captured by the top 10 brokerage houses. When we talk about the most popular brokerage house, the first name hits in everyone’s mind is Zerodha. Here’s presenting a list of the 10 best or most popular stock brokers in India 2023 with the highest number of customers on NSE. These brokers have the best trading and demat accounts for you.

How to select the Best Stock Broker?

Among a huge list of brokers, it seems tricky to find the right broker. Before you choose a broker to open a demat account, you must check below factors;

  • Broker’s reputation with the number of active clients
  • Account opening charges and demat maintenance fee
  • Brokerage fees charged on trading in various segments
  • Types of online trading platforms and functionality like charting, technical indicators, fundamentals, etc.
  • Access to equity research reports and experts advisory
  • Quality of customer service
  • Last but not the least, there should be no idden charges

List of Top 10 Most Popular Stock Brokers in India 2023

Broker Clients Client Share Review Request Callback
ProstocksBest broker offering Monthly Plan @899.Prostocks ReviewOpen Account
Groww95,38,60923.40%Groww ReviewOpen Account
Zerodha72,87,14817.88%Zerodha ReviewOpen Account
Angel One61,11,87914.99%Angel One ReviewOpen Account
ICICIDirect18,45,2024.53%ICICIDirect ReviewOpen Account
Kotak Securities12,08,9482.97%Kotak Securities ReviewOpen Account
HDFC Sky10,97,7472.69%HDFC Sky ReviewOpen Account

Zerodha Trade@20

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

Motilal Oswal8,79,6292.16%Motilal Oswal ReviewOpen Account
SBICAP Securities8,63,8242.12%SBICAP Securities ReviewOpen Account
Paytm Money8,02,1461.97%Paytm Money ReviewOpen Account
Sharekhan6,64,8531.63%Sharekhan ReviewOpen Account

Why Zerodha is the top broker?

In terms of active clientele base, Groww has the highest customer base but we still recommend Zerodha as the top-ranked stock broker. Here are the reasons;

  • Both Zerodha and Groww charges Rs 20 brokerage fee.
  • Groww has limited trading and investment products whereas Zerodha has a complete range of products including commodity and currency trading.
  • NRIs can trade with Zerodha while Groww does not offer NRI trading.
  • Zerodha Kite platform has an array of advanced charting and technical indicator features which is not available with Groww.
  • Zerodha offers free or zero brokerage Delivery trading however the same is not free in Groww.
  • Advanced orders like cover order is not available in Groww.

Number 1 Broker in India

Whether you are a beginner or experienced trader/ investor, Zerodha is the right broker for you with significant customer base, Rs 20 flat brokerage model, user-friendly and feature-rich kite trading platform, and free mutual fund investment.

Beginners who want to kickstart their journey in stock market with mutual funds can also choose Groww as the preferred broker.

Other most popular brokers in the list include ProStocks, Angel One, and Upstox. However, ICICI Direct and HDFC Sky are the best broker for you, if you are looking to access full service brokers’ research & advisory services.


Zerodha is the best stock broker in India in terms of the total active user base of 60 Lakh and an 18% market share. It is India's most preferred brokerage firm due to the following facts;

  • 60 Lakh+ active clients.
  • Zero brokerage delivery trading.
  • Flat Rs. 20 brokerage model on all intraday and F&O trades
  • Equity, Derivative, Commodity, and Currency trading.
  • Kite Flagship platform in web and mobile app (android and iOS) version.
  • Free direct mutual fund investment on Coin
  • Varsity by Zerodha, a free stock market learning platform
  • Zerodha Streak is the best algo trading platform.
Open Account With Zerodha


Upstox has emerged as one of the top discount brokers in India after Zerodha for retail traders and investors. The broker charges Rs. 20 brokerage on equity delivery, intraday, F&O, commodity, and currency segments regardless of the trade value. Upstox Pro (web and mobile app) is one of the best platforms for online trading with a host of unique features such as instant fund transfer, advanced charting, 10+ years of historical data, guest login, and other features.
Although Upstox does not offer free delivery trading but allows zero brokerage investment in direct mutual funds. Upstox customers can also invest in 24K digital gold and global investment in 60+ exchanges across the world.

Open Account With Upstox


Zerodha Broking Ltd, founded in 2010, and today, it is the largest stockbroker in India with 60 lakh clients on BSE and NSE platforms. It is pioneering the flat brokerage pricing model and its Rs. 20 Max brokerage plan enables the broker to become the largest brokerage firm in India. After Zerodha, many other brokers such as Upstox, 5Paisa, Groww, and even full-service brokers like Edelweiss have launched their flat brokerage model.


Zerodha is a CDSL depository participant, and in any circumstances, if the broker shuts down, then investment in stocks remains safe. It is because; your investment is with CDSL and NSDL DP, and in case of bankruptcy, customers can open a new trading account with another broker and get their shares back through linking to the CDSL Demat account. Thus, customers don't need to be worried about the broker's business shut down or failure.


Groww has the highest customer base which is serving over 65 lakh customers. In terms of active user base, Groww even overtook Zerodha and ranked as the top broker with the maximum customers.

Groww stepped in into the discount brokerage space in 2016 and within a short span of time, it has managed to surpass zerodha and became the largest brokerage in terms of active customers.


User Reviews