In India, the broking industry is highly competitive, with several firms offering a variety of services to cater to the diverse needs of investors. Here’s a detailed look at the top 7 broking firms in India, along with their key numbers and comparisons:
1. Zerodha
Overview: Zerodha is India’s largest and most popular discount broker. Founded in 2010, it revolutionized the broking industry by offering zero brokerage on equity delivery trades and a flat fee on other trades.
Key Numbers:
- Clients: Over 7 million (as of 2023)
- Market Share: Approximately 18%
- Brokerage Fees: ₹0 for equity delivery, ₹20 or 0.03% per executed order for intraday and F&O trades, whichever is lower.
- Trading Platforms: Kite (web and mobile), Coin (mutual funds), Varsity (education)
Comparison:
- Strengths: Low-cost trading, user-friendly platforms, educational resources
- Weaknesses: Limited research and advisory services
2. ICICI Direct
Overview: ICICI Direct is part of ICICI Securities and one of the leading full-service brokers in India. It offers a wide range of financial services, including equity, derivatives, mutual funds, IPOs, and insurance.
Key Numbers:
- Clients: Over 4 million
- Market Share: Approximately 10%
- Brokerage Fees: Percentage-based, typically ranging from 0.55% to 0.75% for equity delivery trades.
- Trading Platforms: Trade Racer, ICICI Direct Mobile
Comparison:
- Strengths: Comprehensive research and advisory services, strong banking support
- Weaknesses: Higher brokerage fees compared to discount brokers
3. HDFC Securities
Overview: HDFC Securities is a subsidiary of HDFC Bank and provides a wide array of investment options, including equities, derivatives, mutual funds, and fixed deposits.
Key Numbers:
- Clients: Over 2.5 million
- Market Share: Approximately 5%
- Brokerage Fees: Percentage-based, typically ranging from 0.50% to 0.75% for equity delivery trades.
- Trading Platforms: HDFC Securities Mobile App, ProTerminal
Comparison:
- Strengths: Robust banking integration, extensive research and advisory services
- Weaknesses: Higher brokerage fees compared to discount brokers
4. Sharekhan
Overview: Sharekhan, a subsidiary of BNP Paribas, is one of India’s oldest and most trusted brokerage firms, offering services in equities, commodities, mutual funds, and portfolio management.
Key Numbers:
- Clients: Over 2 million
- Market Share: Approximately 4%
- Brokerage Fees: Percentage-based, typically ranging from 0.50% to 0.75% for equity delivery trades.
- Trading Platforms: Sharekhan TradeTiger, Sharekhan App
Comparison:
- Strengths: Strong research and advisory services, user-friendly platforms
- Weaknesses: Higher brokerage fees compared to discount brokers
5. Angel Broking (Angel One)
Overview: Angel Broking, recently rebranded as Angel One, is a leading full-service broker that offers a wide range of investment options and has a strong presence in the retail segment.
Key Numbers:
- Clients: Over 5 million
- Market Share: Approximately 6%
- Brokerage Fees: Flat ₹20 per trade for all segments (equity delivery, intraday, and F&O)
- Trading Platforms: Angel One App, Angel BEE
Comparison:
- Strengths: Competitive flat brokerage fees, comprehensive research and advisory services
- Weaknesses: Platform stability issues occasionally reported
6. Kotak Securities
Overview: Kotak Securities, a subsidiary of Kotak Mahindra Bank, offers a wide range of investment services, including equities, derivatives, mutual funds, and portfolio management.
Key Numbers:
- Clients: Over 1.5 million
- Market Share: Approximately 3%
- Brokerage Fees: Percentage-based, typically ranging from 0.49% to 0.59% for equity delivery trades.
- Trading Platforms: KEAT Pro X, Kotak Stock Trader
Comparison:
- Strengths: Strong banking integration, extensive research and advisory services
- Weaknesses: Higher brokerage fees compared to discount brokers
7. 5Paisa
Overview: 5Paisa is a discount brokerage firm and a part of IIFL Group. It provides low-cost trading options and has been gaining popularity for its affordable brokerage plans.
Key Numbers:
- Clients: Over 1 million
- Market Share: Approximately 2%
- Brokerage Fees: ₹20 per executed order for all segments
- Trading Platforms: 5Paisa Mobile App, 5Paisa Trader Terminal
Comparison:
- Strengths: Low brokerage fees, diverse investment options
- Weaknesses: Limited research and advisory services
Comparison Summary:
| Broker | Clients (millions) | Market Share | Brokerage Fees | Strengths | Weaknesses |
|---|---|---|---|---|---|
| Zerodha | 7 | 18% | ₹0 for delivery, ₹20 or 0.03% for others | Low-cost, user-friendly | Limited research services |
| ICICI Direct | 4 | 10% | 0.55%-0.75% for delivery | Comprehensive services, strong support | High brokerage fees |
| HDFC Securities | 2.5 | 5% | 0.50%-0.75% for delivery | Robust integration, research | High brokerage fees |
| Sharekhan | 2 | 4% | 0.50%-0.75% for delivery | Strong research, user-friendly | High brokerage fees |
| Angel One | 5 | 6% | ₹20 per trade | Competitive fees, comprehensive | Platform stability issues |
| Kotak Securities | 1.5 | 3% | 0.49%-0.59% for delivery | Strong integration, research | High brokerage fees |
| 5Paisa | 1 | 2% | ₹20 per trade | Low fees, diverse options | Limited research services |
Each of these firms has its strengths and caters to different segments of investors. The choice of a brokerage firm largely depends on an investor’s specific needs, such as cost efficiency, research support, and the range of investment options.