Best Brokerage Accounts in India 2021

With dozens of new online investing platforms available, it's never been easier to start investing on your own. We looked at the commission fees, research resources and customer service quality of India's top brokerage options to help you choose the right one for your needs.

Best Overall: Angel Broking

Consider this if you need charts and tools that are informative and easy to understand.

ChargesEquity Delivery Charge
BrokerageFree
Demat Account Maintenance FeeRs. 20 monthly (Rs. 240 annual)
Transaction ChargesNSE: 0.00345% BSE: 0.003%

Angel Broking is one of the most trusted brokers in India with approximately 1,221,008 active users. Angel Broking stands out for its desktop and mobile user interface. The user experience has been rated very highly and offers some of the best advanced trading charts and tools. For instance, the platform allows users to get instant market news and live market data updates in excel. This efficiency is not found at all of the brokerages. Angel Broking is also a competitive full service broker that caters to the investment needs of their customer base including:

  • Portfolio management
  • Investment Advisory
  • Portfolio reports and health scores
  • Loans against shares
  • IPO purchasing

Angel Broking keeps it simple with only one trading plan where regular trading and equity delivery has no charge. Furthermore, it is free to open a trading and demat account with a monthly demat maintenance fee of Rs. 20 (Rs. 240 annually). Angel Broking is a great option for investors that want a platform that is known to keep them well informed in real time.

Best for Discount Trading: Zerodha

Consider this if you're looking for a cheap and reliable platform that offers a wide variety of investment options.

ChargesEquity Delivery Charge
BrokerageFree
Demat Account Opening FeeRs. 200
Demat Account Maintenance FeeRs. 300
Transaction ChargesNSE: 0.00345% BSE: 0.00275%

The Bengaluru based brokerage was one of the initial pioneers of discount broking in India. Currently, Zerodha has over 15% of the total retailing market share at over 2,303,799 active traders. Zerodha offers its customers the opportunity to invest in different asset classes and investment vehicles, including:

  • Stocks
  • Bonds
  • Mutual funds
  • IPOs

There is no additional charge for equity delivery and mutual funds investments. The trading and demat account opening fee is Rs. 200 and the annual demat maintenance fee is Rs. 300. Being a discount brokerage, Zerodha does not offer the hand holding guidance that many other brokers offer their customers; however, they do offer advanced charts and tools for advanced traders to conduct fundamental and technical analysis. As a result Zerodha is an extremely attractive broker for all traders looking for less guidance and more trading with lower fees.

Best Demat Account: Axis Direct

Consider this if you want a simplified experience that combines banking and investing.

Axis Bank's investment services come in the form of Axis Direct and its 3-in-1 demat account, which promises to streamline your investing by integrating your trades with your savings account. With this account, the money for the securities you buy or sell are routed between your bank account, trading account and demat account, allowing for smooth transfer of both funds and assets as necessary.

In comparison to other options, the maintenance fee of Rs. 750 can feel a little high - but it's important to note that Axis offers more in terms of account functionality when you add in the banking services. In addition, Axis Bank customers opening their first demat account can get the fee waived for the first year.

Best for Guidance and Tips: IIFL

Consider this if you want an investing platform that offers extensive guidance for your trading and personal finance.

IIFL Securities, formerly known as India Infoline, is an ISO certified financial services portion for the IIFL Group. As a full-service broker, IIFL provides many services beyond just trading. Some of these services include:

  • Portfolio management services
  • Wealth management and investment advisory services
  • Loans (personal, property, gold, property, and business)
  • Asset management
  • Personal account reports

The equity delivery and regular trading is free of charge. Furthermore, for a limited time, trading and demat trading account opening fees are waived with annual maintenance fees at Rs. 250 from the second year onwards. This is a great option for investors seeking a broker to guide them through their investments and personal finance.

Best for Beginner Investors: Sharekhan

Consider this if you don't mind paying slightly higher fees for much better research and educational services.

Sharekhan is another great full service broker that has higher fees than many of the other brokers but also offers unique services for its investors. Some of these include:

  • Courses on trading
  • Portfolio management services
  • Research and advisory services
  • Smart search on the platform
  • Advanced charts
  • Portfolio tracker
  • Sharekhan Mini (lite version of the trading platform, perfect for mobile or low internet signal)

Sharekhan has no fees for opening a trading and demat account and has an annual demat maintenance fee of up to Rs. 500, depending on the scheme. This is higher than the average cost. Furthermore, the broker charges a 0.50% fee (minimum of 10 paise per share), which is higher than other platforms. This unique platform charges higher fees and has approximately 630,000 active users. That is a testament to the platforms investment services and usefulness of the educational services that new investors can utilize.

Best for Plan Experimentation: Edelweiss

Consider this if you need a flexible investment option that lets you choose either flat or percentage-based fees.

Edelweiss is a great full service trading brokerage that allows investors to invest and trade while offering them portfolio organizers and research reports. What makes Edelweiss Brokerage unique is that it offers two different plans with two different cost structures.

The Edelweiss Lite charges Rs. 10 per executed order while the Edelweiss Elite plan charges 0.30%. The platform is flexible and allows investors to switch between plans. It is free of charge to switch from Lite to Elite, but costs Rs. 2,500 to switch from Elite to Lite. If you are interested in a platform that allows you to trade and switch between flat rate and percentage based fees, then this platform may be the one for you.

FAQ

The most important thing to look at is brokerage costs. Check and see if the brokerage costs are higher than its competitors. That being said, even after cost analysis make sure you don't just go for the cheapest one. If you want stock tips and advisory services you will need to go for a costlier broker to receive these services.