Top Share Brokers in India 2024 (Top 20 Stock Brokers) (2024)

FAQs

Who is the largest stock broker in India in 2024? ›

In 2024, Groww was the leading equity brokerage firm across India with over nine million active clients. Zerodha followed with 7.22 million active clients.

Zerodha and Prostocks are the two best NRI discount brokers in India. Prostock is the low-cost NRI trading broker that charges Rs. 100 flat brokerage on NRI trading while Zerodha charges Max Rs. 200 per order brokerage.

Another notable name is Radhakishan Damani, known as the "Stock Market Kingpin." His expertise lies in spotting undervalued stocks and patiently holding onto them for long-term gains. Damani's disciplined approach and ability to identify opportunities have made him one of India's most successful traders.

What Are the Big 4 Brokerage Firms? The biggest firms in the U.S. are Charles Schwab, Fidelity, Vanguard, and JPMorgan. These companies provide brokerage services to millions of clients.

Groww, a seven-year-old financial services platform, usurped Bengaluru-headquartered Zerodha to become the largest brokerage in India in terms of the number of active investors.

Zerodha is a top discount broker that had a stellar financial run, scoring ₹2,094 crore in profits from a ₹4,964 crore revenue in FY22.

Rakesh Radheyshyam Jhunjhunwala (5 July 1960 – 14 August 2022) was an Indian billionaire investor, stock trader, and Chartered Accountant. He began investing in 1985 with a capital of ₹5,000, with his first major profit in 1986.

Zerodha is the best and largest broker offering online NRI trading services. Prostocks is another online discount broker which is a very popular amount the NRI traders for its low-cost NRO Non-PIS trading account. ICICI Bank is the most popular full-service broker. They offer an NRI 3-in-1 account.

NRIs can invest in the Indian stock market through the purchase of equity shares, mutual funds, ETFs and derivatives. You can only conduct delivery-based trades, and there are restrictions on intraday trading or trading in currency derivatives and commodities.

NRIs from other countries can invest, if they have a NON-PIS account. To learn the differences between a PIS and Non-PIS account, see What are the documents required to open a Zerodha account as an NRI? Intraday trading in equity is not allowed. Buy Today Sell Tomorrow (BTST) is not available.

How many demat accounts are there in India in 2024? ›

The total number of Demat accounts in India has reached a new high of 151 million as of March 2024. There was a significant increase in new Demat account openings in March 2024, with 3.1 million new accounts added.

A true list of top full-service brokers in India 2024 by the number of active clients. ICICI Direct is the top most stock broker among all the brokers. ICICI Bank is followed by discount brokers like HDFC Securities, Sharekhan and Kotak Securities.