List of Best Full-Service Brokers in India (2021): There are two types of brokers in India based on the services and fees – A full-service broker and a Discount broker. A full-service broker is a stockbroker or brokerage firm that provides investment advice and related services to clients in addition to facilitating transactions. A full-service Broker is also known as Traditional Broker.

A full-service broker typically charges from 0.1% to 0.5% of the transaction value as brokerage, so if your investment is in a huge amount then the total brokerage will also be huge.

In this article, we will talk about the advantages of trading with a full-time broker and few important points to consider while choosing a full-service broker.

Advantages and Points to Consider while choosing Best Full-Service Brokers in India

Advantages with Full-Service brokers are:

  • They have an in-house research team
  • Provide research reports
  • Stock trading tips
  • Give training for trading
  • Have a dedicated manager for addressing your queries and even stock recommendations

Points to consider while choosing best full-service stock brokers:

  • Seamless flow of funds between bank and trading account
  • Branches and offline presence
  • Depth of research
  • Research, advisory and stock tips
  • Customer support
  • Brokerage charges

10 Best Full-Service Brokers

Here is the list of top 10 best full-service stock brokers in India in 2021 –

S.No.Name of Stockbroker# of Active ClientsMarket Share (%)
1ANGEL BROKING LIMITED14,54,1678.08%
2ICICI SECURITIES LIMITED14,35,3567.98%
3HDFC SECURITIES LTD.9,44,0915.25%
4KOTAK SECURITIES LTD.7,17,6583.99%
5SHAREKHAN LTD.6,76,6313.76%
6MOTILAL OSWAL FINANCIAL SERVICES LIMITED5,43,3113.02%
7AXIS SECURITIES LIMITED4,39,2732.44%
8SBICAP SECURITIES LIMITED3,22,3531.79%
9IIFL SECURITIES LIMITED2,87,5031.60%
10EDELWEISS BROKING LIMITED1,57,1980.87%

Now let’s see more details on each of the above full-service brokers.

1. Angel Broking – Best Full-Service Brokers

How to Open Demat Account at Angel Broking cover

Incorporated in 1987, Angel broking is a big brand having +30 Years of experience in the broking world and +1 million happy customers. They have a presence in over 1800+ cities in India. Angel Broking offers the trading facility in Equity, F&O, Commodities, and currency across BSE, NSE, NCDEX & MCX.

Angel Broking now offers a flat rate brokerage plan, named ‘Angel iTrade PRIME’. Here, the delivery trading is FREE of cost. And for all other segments i.e. Intraday, F&O, Currencies & Commodities, they charge a fixed rate of ₹20 per. The same simple rate is applicable across exchanges and segments.

One of the key advantages of trading with Angel Broking is that they provide guidance/recommendations for investing in the stock market along with research reports on companies and many other value-adding tools and services.

Services Offered: Angel Broking offers its services in Equity, Commodity, Currency, PMS, Life Insurance, ETFs, IPOs & Mutual Funds.

Angel Broking Brokerage Charge:

  • Delivery charges: Rs 0
  • Intraday Trading: Flat ₹20 Per Trade
  • Equity F&O: Flat ₹20 Per Trade
  • Currency F&O: Flat ₹20 Per Trade
  • Commodity F&O: Flat ₹20 Per Trade

Account Opening Charges with Angel Broking:

  • Account opening charge: Rs 0 (Currently Waived)
  • Annual Maintenance Charge: Rs 450 (Second year onwards)

Trading Platform: Angel iTrade, Angel Broking Mobile App, Angel BEE

Quick link to open your FREE account with Angel Broking

2. ICICI Direct

ICICI Direct Logo | Top Stockbrokers in India

The ICICI Direct which is a part of ICICI Securities ranks number one in the full-service stockbrokers’ list. It is armed by the leading private financial services provider ICICI Group which is in existence since 1994. The high-quality and customized services along with the 3-in-1 account facility are what the company counts on to be able to capture such a vast number of active clients.

ICICI Direct has been number one in terms of active customers until 2019 when the top discount broking firm Zerodha toppled them with a client base of more than 2 million. However, ICICI Direct is the most visited trading platform in India. 

The reason why a lot of investors and traders would want to trade through this company is that they not only provide the general stockbroking products and services but also a huge range of insurance products, financial distribution products, investment banking, institutional trading, wealth management services, Home Loans, Bonds, Fixed Deposits, IPO services, NCDs and loan against shares. 

Here are a few key points and features to know about ICICI Direct: 

ICICI Direct offers different types of brokerage plans like I-Secure, I-Saver & Prepaid to choose from. However, recently they also entered the discount brokerage model with ICICI Direct Prime brokerage plan. Here are the details: 

  • Delivery Brokerage charges: 0.15% – 0.25%
  • Intraday Brokerage Charges: Rs 15 per trade
  • Futures/Options/Currency/Commodity Charges: Rs 20 per trade
  • Margin Funding: 8.9% pa
  • Services: Equities, Derivatives, Currency, Mutual Fund, IPOs, FD, Bonds, NCDs, ETFs
icici direct prime plan brokerage charges

Know more about brokerage and other charges by ICICI Direct here!

3. HDFC Securities – Best Full-Service Brokers

HDFC Logo | Top Stockbrokers in India

HDFC Securities Limited is a subsidiary of the largest private sector bank HDFC with a huge online and offline presence and has been in existence for the last two decades. The company is named as one of the topmost full-service stockbrokers of India and has its headquarter in Mumbai with more than 270 offices and branches across the country. 

Known for its comprehensive services to a variety of clients and professional traders with online as well as offline trading services, HDFC Securities Limited offers a wide range of stockbroking services along with the distribution of financial products. The customers of this broking house can trade through stocks, mutual funds, commodities, fds, bonds etc, and have the benefit of trading and investing with an award-winning broking house.  

Here are a few key points and features to know about HDFC Securities:

  • Delivery charges: 0.07%-0.32% on transaction value
  • Intraday Charges: 0.40%- 0.15% on transaction value
  • Account opening charge: Rs 999
  • Annual Maintenance Charge: Rs 750 (Second year onwards)
  • Services: Equities, Derivatives, Currency, Mutual Fund, IPOs, ETFs, Bonds, FDs, Insurance
HDFC securites brokerage charges

(Source: HDFC Securites)

Trading Platform: HDFC Securities offers web trading platforms, Blink, ProTerminal, and Mobile App to their clients to trade and invest in stocks.

4. Kotak Securities

Kotak Securities Logo | Best Full-Service Brokers

Founded in 1994, Kotak Securities Ltd is a subsidiary of Kotak Mahindra Bank with a presence in 360+ cities. Ranked among the top five full-service brokers and one of the very few stockbrokers who provide a 3-in-1 account facility, Kotak Securities Limited is acclaimed to be unconventional when it comes to delivering unique services to their clients.

As a part of the well known financial service provider The Kotak Mahindra Group, Kotak Securities along with its group offer various multi-asset class investment and trading product and services, distribution services, insurance products, investment banking and a lot more to their wide range of clients spread across India as well as the globe.

The company has been the first broker all over the country to introduce Margin Finance for online trading, IPO and Mutual Fund Investments over the phone, SMS alerts right before the execution of the depository transaction, Autoinvest and Margin against securities using shares in the Demat account. This is the reason why it is renowned for its innovations and using advanced technologies to make investment and trading experience smoother for their clients.

Recently Kotak securities launched Trade FREE plan with a discount broking model. Here are the details:

  • Delivery charges: Rs 0
  • Intraday Charges: Rs 0
  • Futures Charges: Rs 20 per trade
  • Options Charges: Rs 20 per trade
  • MIS & Super Multiple (Cover Order): Rs.20 per order

You can find more information on Kotak securities’ FREE trade plan here. 

Services: Equity, Derivatives, Mutual Funds, IPOs, ETFs, Currency, bonds, ETFs

Trading Platform: XTRALITE (web), KEAT PRO X (terminal application), Fastlane, Stock Trader (mobile app)

5. Sharekhan – Best Full-Service Brokers

Sharekhan Logo | Top full-service Stockbrokers in India

With over 2 million customer base, Sharekhan has been one of the top three stock brokers in India. The journey of Sharekhan from being part of the SSKI Group to a BNP Paribas subsidiary had been enticing for not only the investors but also the traders. It is the first stockbroker in India to introduce an online trading website sharekhan.com.

The finest investment platform provides a wide range of products and services namely stock quotes, news alerts on the share market, fundamental and analytical research reports on equity, mutual fund investments, IPOs and so on. The customer-centric account types enable investors and traders to select the best plan for their needs.

  • Intraday Brokerage Charges: 0.1% on the buy-side and 0.1% on the sell-side
  • Delivery Brokerage Charges: 0.5% on the buy-side and 0.5% on the sell-side
  • Futures Brokerage Charges: 0.10% on the first leg, 0.02% on the second leg if it is squared on the same day
  • Options Brokerage Charges: Rs 50 per lot or 2.5% on the premium
  • Account opening charge: Classic Account: 750, Trade Tiger Account: 1000
  • Annual Maintenance Charge: Rs 400 (Second year onward)

Services: Equities, Derivatives, Currency, Mutual Fund, Commodities, PMS, IPOs

Trading Platform: Trade Tiger, Sharekhan web, Sharekhan mobile app, ComMobile Pro, InstaMf App

Also Read

6. Motilal Oswal

Motilal Oswal Logo | Top Stockbrokers in India

With over 20+ years of experience in trading and investment, spread over 500+ cities and comprising 2,200+ Business Locations, it is one of the most reputable and top stockbrokers in India.

They just not stuck into the broking business but also entered many new avenues eventually such as private equity, investment banking, mutual funds, portfolio management service, wealth management and all of that a typical financial service company would provide.

Motilal Oswal Securities Limited is a subsidiary firm of Motilal Oswal Financial Service Limited. Today, this diversified financial service firm holds diversity in the clients too as they have retail customers, foreign institutional investors, High Net Worth Individuals, financial institutions and small and large corporates.

  • Delivery charges: 0.50% on transaction value
  • Intraday Charges: 0.05% on on transaction value (Both side)
  • Account opening charge: Rs 0
  • Annual Maintenance Charge: Rs 400 (From 2nd Year onlwards)

Services: Equity, Derivatives, Commodities, Currency, IPOs, Mutual Funds

Motilal Oswal Trading Platform: Motilal Oswal Trade, Desktop trading platform, web trading platform, Mobile App

7. Axis Direct – Best Full-Service Brokers

Axis Direct Logo | Best Full-Service Brokers

Axis Securities Limited (ASL) is a subsidiary company of Axis Bank Ltd and part of Axis Group. The Broker offers trading facilities in NSE, BSE, MCX-SX, and Depository Participant with CDSL. The main business of Axis Direct is to allow investing in Equities, Mutual Funds, SIPs, IPOs, Derivatives, Bonds, NCDs, ETFs and Company Fixed Deposits, tax planning, and PMS services. Axis Direct was the first-ever bank-sponsored broking firm to start trading in commodities (MCX).

Axis Direct Brokerage Plans –

PlansComplimentary Delivery Turnover (CDT)Validity periodAccount opening chargesValue Added Subscription fee
Fixed PlanN.AN.A.₹999₹0
Investment Plus Plan ₹3 Lakhs (buy + sell)6 monthsNIL₹1,500
Now or Never Plan₹12 Lakhs (buy + sell)10 yearsNIL₹5,555

Axis Direct Brokerage Charges –

PlansFixed PlanInvestment Plus PlanNow or Never Plan
Equity Delivery0.50% 0.50% 0.25% 
Equity Intraday0.05%0.05%0.03%
Futures0.05%0.05%0.03%
OptionsRs. 20Rs. 20Rs. 20

Axis Direct Trading Platforms: Axis Direct Trade, Axis Web, Axis Mobile Trading App

8. SBICap Securities

SBICap Logo | Best Full-Service Brokers

SBICAP Securities Limited (SSL) is one of the popular names in the stockbroking industry who are listed amongst the few large full-service stockbrokers that offer 3-in-1 account facilities.

SBICAP Margin / Exposure

SegmentMargin 
Equity DeliveryUp to 8x
Equity IntradayUp to 12x
Equity FuturesUp to 8x
Equity OptionsUp to 8x
Currency FuturesUp to 5x
Currency OptionsUp to 6x

Services: Their Services include Demat and Trading account services, Intraday, IPO, Stock Recommendations and Portfolio Management Services.

SBICap Trading Platforms: SBISMART Trading App, SBISMART Xpress, SBISMART Web trading portal

9. IIFL Securities Limited – Best Full-Service Brokers

IIFL Logo | Best Full-Service Brokers

IIFL Securities is one of the biggest retail brokers which is a part of an IIFL Group, India’s biggest financial service provider. IIFL group enjoys the reputation of becoming the leading financial service company.

IIFL Flat Brokerage Plan:

BrokerageRate
Intra-day both side0.05%
Delivery (Normal) settlement​0.50%
Trade for Trade and Z group scrip0.75%
Brokerage (FUTURES) both side0.05%
Brokerage (OPTIONS) Minimum1% of Premium or Rs.100/- per lot whichever is higher
Minimum per share BrokerageRs. 0.05

Services: The extensive services offered by the full-service broker contains Demat, Trading, Intraday, IPO, Stock Advisory and Portfolio Management Services. The company is known for providing tailor-made services.

IIFL Trading Platforms: IIFL Market App, TT Website & Desktop Software, TT Iris, IIFL Mutual Fund App

10. Edelweiss Broking Limited

Edelweiss Logo | Best Full-Service Brokers

Edelweiss Broking Limited is a part of Edelweiss Group – one of the leading financial services providing firms based out of Mumbai. The group was incorporated in 1995 and Edelweiss Broking Limited was started in 2008 and today they have more than 1 million clients with them.

Edelweiss Brokerage Charges

Brokerage ChargesLiteElite
Equity DeliveryRs. 10 per executed order0.30%
Equity IntradayRs. 10 per executed order0.03%
Equity FuturesRs. 10 per executed order0.03%
Equity OptionsRs. 10 per executed orderRs. 75 per lot
Currency FuturesRs. 10 per executed order0.02%
Currency OptionsRs. 10 per executed orderRs. 20 per lot

Services: The services offered by the retail full-service broker contains Demat, Trading, Intraday, IPO, Stock Tips, Robo Advisory, educational training about trading, and Portfolio Management Services.

Edelweiss Trading Platform: Terminal X3 (TX3), Edelweiss Mobile Trader

Closing Thoughts

Full-service stockbrokers can help you and guide you in wealth creation and fruitful investing but, ultimately you need to know basics of trading needs first. We saw in the above post that the most popular full-service brokers are Angel Broking, ICICI, HDFC and Sharekhan.

That’s all for this post on the list of best full-service brokers in India 2021. Comment below your favourite stockbroker. Happy Trading!

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