Brokers
Headline charges from each broker's own pricing page, grouped by type.
NSE active clients · top 20 brokers
4,58,88,501 active clients combined · as of 01/10/2026
#1 · Groww
29.43%
1,37,52,402 active clients
#2 · Angel One
14.97%
69,98,516 active clients
#3 · Zerodha
14.46%
67,59,106 active clients
Full top-20 distribution
Bars scaled to the leading broker. NSE Unique Client Code (UCC) counts from each broker's monthly NSE submission. BSE retail counts mostly overlap NSE for the 11 brokers listed below; standalone BSE-only client counts are a small fraction.
Verify first
Before opening: verify the broker on NSE / SEBI pages, check their investor charter and grievance details, and read the latest tariff sheet on the broker's own site.
What to compare
Total cost
Brokerage, DP charges, AMC, pledge, MTF interest, call-and-trade, payment fees.
Products
Equity delivery, intraday, F&O, ETFs, mutual funds, IPOs, bonds, commodities, currency.
Execution
Order types, GTT/GTC support, app stability, web terminal, charting, outage history.
Reports
Contract notes, ledger, P&L, tax reports, capital gains, downloadable statements.
Safety
SEBI registration, exchange membership, investor charter, 2FA, alerts, nominee setup.
Support
Ticket quality, phone support, escalation path, grievance officer, complaint disclosures.
APIs
Official APIs, rate limits, order placement support, sandbox, data access, extra charges.
Directory
Headline charges only. Tap the broker's pricing page for the authoritative tariff sheet.
Discount
Flat per-order pricing on intraday and F&O, ₹0 on equity delivery, lean web/app stacks. Best for cost-sensitive investors and casual traders.
| Broker | NSE active clients | Delivery | Intraday | F&O / order | Account opening | AMC | API | Links |
|---|---|---|---|---|---|---|---|---|
5paisa Discount broker with subscription-style pricing. | 3,21,263 #160.69% share | ₹20 per order (basic); ₹10/order on Power Investor pack | ₹20 per order (basic); ₹10/order on Power Investor pack | ₹20 per order (basic); ₹10/order on premium packs | ₹0 | ₹300 / year (₹75 quarterly) | API · limited |
Reports & exports
The four basics - P&L, tradebook, tax-ready P&L, Schedule 112A (LTCG ITR format) - are universal now. Differentiation is in the dedicated portfolio console: a unified portal that auto-buckets equity / F&O / dividends / capital gains without a third-party tool.
| Broker | P&L | Tradebook | Tax P&L | Sch 112A | Portfolio console | Depository | Listed |
|---|---|---|---|---|---|---|---|
| Zerodha | ✓ | ✓ | ✓ | ✓ | Console | CDSL | Private |
| Groww | ✓ | ✓ |
Before you decide
Match the broker to your use case: long-term investing, active trading, F&O, APIs, or bank-linked convenience.
Download a sample contract note or inspect a live order cost preview before trading actively.
Check the broker's investor charter, complaints disclosure, nominee process, DDPI or POA terms, and account closure process.
Do not choose only on headline brokerage. Taxes, DP charges, pledge, MTF, auto-square-off, and support quality can matter more.
AskNivesh does not rank brokers, recommend brokers, or receive compensation for broker placement. Charges in the table are the headline numbers from each broker's public pricing page on the verified date; always re-check on the official link before opening or moving an account.
Last verified against official pricing pages: 2026-05-19
Power Investor (₹449/mo) and Ultra Trader (₹999/mo) packs cut per-order brokerage to ₹10. Titanium (₹999/mo) makes delivery ₹0.
Angel One Discount broker with full-service heritage and free APIs. | 69,98,516 #214.97% share | ₹20 or 0.1%, whichever is lower (min ₹5) | ₹20 or 0.1%, whichever is lower (min ₹5) | ₹20 per order | ₹0 | ₹0 first year, then ₹240 / year (waived above ₹4 lakh holdings) | API · free | Equity delivery moved from ₹0 to ₹20-or-0.1% in Nov 2024; verify current sheet for any subsequent change. |
Groww Mobile-first broker operated by Nextbillion Technology. | 1,37,52,402 #129.43% share | ₹20 or 0.1%, whichever is lower (min ₹5) | ₹20 or 0.1%, whichever is lower (min ₹5) | ₹20 per order | ₹0 | ₹0 | API · limited | No equity-delivery free tier. Confirm this is the right model if you trade large delivery volumes. |
Upstox Discount broker operated by RKSV Securities India Pvt Ltd. | 18,42,937 #53.94% share | ₹20 per executed order | ₹20 or 0.1%, whichever is lower | Options: ₹20 flat. Futures: ₹20 or 0.05% lower | ₹0 | ₹0 first year, then ₹300 / year + GST | API · free | AMC waived first year; ₹300+GST from year two. Per-order API charge applies during the introductory pricing window - verify current state. |
Zerodha India's largest discount broker by active client count. | 67,59,106 #314.46% share | ₹0 | ₹20 or 0.03%, whichever is lower | Futures: ₹20 or 0.03% lower. Options: ₹20 flat | ₹0 (online & offline) | Free ≤ ₹4L holdings; ₹100/yr ₹4L–10L; ₹300/yr above ₹10L | API · paid | Reliable execution, mature ecosystem. Verify call-and-trade, pledge, and platform-AMC charges separately. |
Trading-focused
Built around active traders: advanced order types, faster terminals, deeper API access, intraday-friendly margins.
| Broker | NSE active clients | Delivery | Intraday | F&O / order | Account opening | AMC | API | Links |
|---|---|---|---|---|---|---|---|---|
Dhan Mobile trading platform operated by Raise Financial Services. Free DhanHQ APIs. | 11,46,640 #82.45% share | ₹0 | ₹20 or 0.03%, whichever is lower | ₹20 per order | ₹0 | ₹0 | API · free | Strong option-trading ergonomics. Confirm pledge, MTF, and call-and-trade charges if relevant. |
FYERS Broker with charting tools, scanners, and free FYERS API V3. | 1,99,413 #210.43% share | ₹20 or 0.3%, whichever is lower | ₹20 or 0.03%, whichever is lower | Options: ₹20 flat. Futures: ₹20 or 0.03% lower | ₹0 | ₹0 | API · free | FYERS dropped its ₹0-delivery model ~mid-2024. Vet support quality given smaller user base than Zerodha. |
Bank-backed
Tied to a bank account for instant funds movement. Brokerage tends to be higher but the integration and brand trust matter for some investors.
| Broker | NSE active clients | Delivery | Intraday | F&O / order | Account opening | AMC | API | Links |
|---|---|---|---|---|---|---|---|---|
HDFC Sky HDFC Securities' digital-first sub-brand. | 13,60,386 #72.91% share | ₹20 or 2.5%, whichever is lower | ₹20 or 2.5%, whichever is lower | Options: ₹20 flat. Futures: ₹20 or 2.5% lower | ₹0 | ₹0 first year, then ₹240 / year (₹20/month) | API · limited | AMC kicks in year two. Confirm pledge and MTF rates against current sheet. |
ICICI Direct Subsidiary of ICICI Bank (ICICI Securities Ltd). | 21,64,341 #44.63% share | iVALUE: ₹20/order. Prime plans: 0.27%–0.55% (slab-based) | iVALUE: ₹20/order. Prime plans: 0.025%–0.275% | iVALUE: ₹20/order. Prime plans: plan-dependent | Often free with ICICI Bank account | ₹700 / year standard; ₹300 + GST on iVALUE plan | API · limited | Plan choice (iVALUE / Prime 299 / Prime 4999 / Prime 9999) dominates effective brokerage. Older I-Secure / I-Saver / Neo names retired. |
Kotak Securities Subsidiary of Kotak Mahindra Bank. | 14,04,735 #63.01% share | ₹0 on Trade Free Youth (under 30); ₹10/order on Trade Free | ₹10 or 0.05%, whichever is lower (Trade Free Youth / Trade Free) | ₹10 per order (Trade Free / Trade Free Youth) | ₹99 on Trade Free Youth; ₹0 on Trade Free | ₹50 / month dematerialisation fee on some plans | API · free | Trade Free Youth (age-gated, ₹99 opening) is the cheapest plan; eligibility and plan switching rules matter. |
Full-service
Bundle research, advisory, and relationship-manager-style support. Brokerage is highest; differentiation is human service, not price.
| Broker | NSE active clients | Delivery | Intraday | F&O / order | Account opening | AMC | API | Links |
|---|---|---|---|---|---|---|---|---|
Mirae Asset Sharekhan Full-service broker with research desk and advisory. | 5,29,021 #131.13% share | 0.30% of trade value (min 1 paisa/share) | 0.02% on each side | Futures: 0.02%. Options: ₹39 per lot each side | Often free; promotional | Waived first year; ₹400 / year thereafter (non-BSDA) | API · limited | Full-service charges substantially more per trade than discount brokers; trade-off is research desk + RM access. |
| ✓ |
| - |
| CDSL |
| Private |
| Angel One | ✓ | ✓ | ✓ | ✓ | - | CDSL | ANGELONE → |
| Upstox | ✓ | ✓ | ✓ | ✓ | - | CDSL | Private |
| Dhan | ✓ | ✓ | ✓ | ✓ | Portfolio | CDSL | Private |
| FYERS | ✓ | ✓ | ✓ | ✓ | - | CDSL | Private |
| 5paisa | ✓ | ✓ | ✓ | ✓ | - | CDSL | 5PAISA → |
| ICICI Direct | ✓ | ✓ | ✓ | ✓ | - | NSDL · CDSL | ICICIBANK → |
| HDFC Sky | ✓ | ✓ | ✓ | ✓ | - | NSDL | HDFCBANK → |
| Kotak Securities | ✓ | ✓ | ✓ | ✓ | - | NSDL | KOTAKBANK → |
| Mirae Asset Sharekhan | ✓ | ✓ | ✓ | ✓ | - | CDSL | Private |