India’s capital markets have witnessed tremendous growth over the past two decades, fueled by increasing participation from retail investors, evolving technology, regulatory reforms, and a maturing investment ecosystem. At the heart of this transformation lies a crucial facilitator — stock brokers. These institutions are the backbone of investor access, enabling buying, selling, and managing investments in equities, commodities, derivatives, mutual funds, and more.
In this article, we bring to you a comprehensive list of the Top 100 Stock Brokers in India — not ranked from 1 to 100, but instead, presented as a curated collection of top-performing, well-recognized brokers who have made a significant impact on the Indian financial landscape. These companies have been selected based on various qualitative and quantitative factors including their market share, client base, innovation, technology, customer service, compliance, and trustworthiness.
🌟 Why This List Matters
India has more than 2,000 registered brokers with SEBI, but only a fraction of these have stood the test of time and competition to make it into the top echelon. Whether you are a first-time investor, a seasoned trader, or an HNI seeking portfolio diversification, knowing your options is critical. The right broker can offer you the right mix of technology, low cost, advisory, and reliability.
This list comprises both discount brokers (known for low-cost, tech-savvy offerings) and full-service brokers (who provide end-to-end services including investment advice, portfolio management, and research). From new-age fintech players like Zerodha and Upstox to legacy institutions like ICICI Direct, HDFC Securities, and Motilal Oswal, the diversity of brokers reflects the breadth of the Indian investor base.
📌 What’s Included in the List?
For each stock broker, the following key information has been compiled:
- Company Name
- Key Person (CEO/Founder/Managing Director)
- Headquarters Location
- Brief 4-line Overview covering their services, market presence, innovations, and differentiators.
💼 The Spectrum of Services
The stock brokers in this list provide services that include but are not limited to:
- Equity and Derivative Trading
- Commodity and Currency Trading
- Mutual Fund Distribution
- IPO Investment Platforms
- Portfolio Management Services (PMS)
- Wealth and Financial Advisory
- API-based Algo Trading
- Mobile and Web Trading Platforms
- NRI Services and Global Investing
These services are delivered via user-friendly platforms backed by cutting-edge technology, secure transaction processing, and regulatory compliance.
🏆 Some Noteworthy Names
- Zerodha: India’s largest discount broker with tech-first trading and flat-fee pricing.
- Groww: A fast-growing platform favored by millennials for mutual funds and stocks.
- Upstox: Known for its intuitive app and aggressive pricing.
- ICICI Direct: Offers 3-in-1 accounts with strong banking-broking integration.
- Angel One: A full-service broker making waves with digital products.
- Motilal Oswal: Renowned for research and HNI wealth services.
- Sharekhan: A legacy brand with extensive advisory offerings.
🔍 Thoughts by Dr. Shishir Gupta
This Top 100 Stock Brokers in India list is not a ranking but a representative cross-section of the most trusted and active brokers in the country. It includes a mix of traditional and modern players, each contributing uniquely to the financial empowerment of investors.
The Indian investment ecosystem is evolving rapidly with innovations like UPI IPOs, real-time settlements, and algorithmic trading. In such a dynamic environment, choosing the right broker is more than a convenience — it’s a strategic decision for long-term wealth creation.
1. Groww
- Key Person: Lalit Keshre (Co-founder & CEO)
- Headquarters: Bengaluru, Karnataka
- Overview: Groww is a leading online investment platform in India, offering a user-friendly interface for investing in stocks, mutual funds, and more. It has rapidly gained popularity among millennials and first-time investors. The platform emphasizes simplicity and transparency in investment processes.
2. Zerodha
- Key Person: Nithin Kamath (Founder & CEO)
- Headquarters: Bengaluru, Karnataka
- Overview: Zerodha is India’s largest stockbroker by active clients, known for pioneering discount broking in the country. It offers a range of investment products with low brokerage fees. The company’s technology-driven approach has set industry benchmarks.
3. Angel One
- Key Person: Dinesh Thakkar (Chairman & MD)
- Headquarters: Mumbai, Maharashtra
- Overview: Angel One, formerly Angel Broking, is a full-service retail broking house offering a wide range of financial services. It has a strong presence across India with a focus on digital platforms. The firm provides services in equity, commodities, and more.
4. Upstox
- Key Person: Ravi Kumar (Co-founder & CEO)
- Headquarters: Mumbai, Maharashtra
- Overview: Upstox is a fast-growing discount brokerage firm offering trading services in equities, commodities, and currencies. It is known for its low-cost trading and robust technology platform. The company caters to both retail and institutional investors.
5. ICICI Direct
- Key Person: TK Srirang (MD & CEO)
- Headquarters: Mumbai, Maharashtra
- Overview: ICICI Direct is a part of ICICI Securities and offers a comprehensive range of investment services. It provides a 3-in-1 account integrating banking, trading, and demat services. The platform is known for its research and advisory services.
6. Kotak Securities
- Key Person: Jaideep Hansraj (CEO)
- Headquarters: Mumbai, Maharashtra
- Overview: Kotak Securities is a subsidiary of Kotak Mahindra Bank, offering stock broking and distribution services. It provides a range of investment options including equities, derivatives, and mutual funds. The firm emphasizes personalized investment solutions.
7. HDFC Securities
- Key Person: Dhiraj Relli (MD & CEO)
- Headquarters: Mumbai, Maharashtra
- Overview: HDFC Securities is a leading stock broking company offering a wide array of investment and trading services. It provides a 3-in-1 account integrating banking, trading, and demat services. The firm is known for its strong research and advisory support.
8. Motilal Oswal Financial Services
- Key Person: Motilal Oswal (Chairman & MD)
- Headquarters: Mumbai, Maharashtra
- Overview: Motilal Oswal offers a range of financial services including retail broking, institutional broking, and wealth management. It is renowned for its research-driven approach and customer-centric services. The firm has a strong pan-India presence.
9. SBI Securities
- Key Person: Vinay M. Tonse (MD & CEO, SBI Mutual Fund)
- Headquarters: Mumbai, Maharashtra
- Overview: SBI Securities is a subsidiary of the State Bank of India, offering a range of investment services. It provides trading in equities, derivatives, and mutual funds. The firm leverages SBI’s extensive network to reach investors across the country.
10. Dhan (Moneylicious Securities)
- Key Person: Pravin Jadhav (Founder & CEO)
- Headquarters: Mumbai, Maharashtra
- Overview: Dhan is a technology-driven stock broking platform offering zero brokerage on equity delivery trades. It focuses on providing a seamless trading experience with advanced tools. The platform caters to both beginners and experienced traders.
iturn0image1turn0image2turn0image3turn0image5Certainly! Continuing with the detailed list of the Top 100 Stock Brokers in India, here are entries 11 to 20, each with their key personnel, headquarters location, and a brief overview:
11. 5paisa Capital Ltd.
- Key Person: Prakarsh Gagdani (CEO)
- Headquarters: Mumbai, Maharashtra
- Overview: 5paisa is a discount brokerage firm offering low-cost trading services. It provides a range of financial products including equities, mutual funds, and insurance. The platform is known for its user-friendly mobile app and competitive pricing.
12. Axis Direct
- Key Person: B. Gopkumar (MD & CEO)
- Headquarters: Mumbai, Maharashtra
- Overview: Axis Direct is the stockbroking arm of Axis Bank, offering a 3-in-1 account integrating banking, trading, and demat services. It provides a wide range of investment options including equities, derivatives, and mutual funds. The platform emphasizes research-backed investment decisions.
13. Sharekhan
- Key Person: Jaideep Arora (CEO)
- Headquarters: Mumbai, Maharashtra
- Overview: Sharekhan is one of India’s leading full-service brokerage firms, offering a comprehensive suite of investment products. It provides services in equities, commodities, and portfolio management. The firm is known for its strong research and customer service.
14. Edelweiss Broking Ltd.
- Key Person: Rashesh Shah (Chairman & CEO)
- Headquarters: Mumbai, Maharashtra
- Overview: Edelweiss Broking is part of the Edelweiss Group, offering a range of financial services including brokerage, wealth management, and investment banking. It caters to a diverse client base with personalized investment solutions. The firm emphasizes innovation and customer-centricity.
15. IIFL Securities
- Key Person: R. Venkataraman (MD)
- Headquarters: Mumbai, Maharashtra
- Overview: IIFL Securities is a leading brokerage firm offering services in equity, commodity, and currency trading. It provides research-backed investment advice and a robust trading platform. The firm serves a wide range of clients including retail and institutional investors.
16. Geojit Financial Services
- Key Person: C. J. George (Founder & MD)
- Headquarters: Kochi, Kerala
- Overview: Geojit is a prominent financial services company offering a range of investment solutions including equities, mutual funds, and portfolio management. It has a strong presence in South India and the Middle East. The firm is known for its research capabilities and customer service.
17. Anand Rathi
- Key Person: Anand Rathi (Chairman)
- Headquarters: Mumbai, Maharashtra
- Overview: Anand Rathi is a full-service financial services firm offering a wide array of investment and advisory services. It caters to individuals, corporations, and institutions with customized solutions. The firm emphasizes a client-centric approach and robust research.
18. SAS Online
- Key Person: Shubham Agarwal (Co-founder)
- Headquarters: New Delhi
- Overview: SAS Online is a discount brokerage firm offering low-cost trading services in equities, commodities, and currencies. It provides a robust trading platform with advanced features. The firm focuses on technology-driven solutions for active traders.
19. Trade Smart Online
- Key Person: Vikas Singhania (CEO)
- Headquarters: Mumbai, Maharashtra
- Overview: Trade Smart Online is a discount brokerage firm offering competitive pricing and advanced trading platforms. It provides services in equities, commodities, and derivatives. The firm emphasizes transparency and customer support.
20. ProStocks
- Key Person: Sunil Nyati (Founder & MD)
- Headquarters: Mumbai, Maharashtra
- Overview: ProStocks is a discount brokerage firm offering zero brokerage on equity delivery trades. It provides a range of trading services with a focus on cost efficiency. The platform is known for its simplicity and customer-friendly approach.
21. Motilal Oswal Financial Services
- Key Person: Motilal Oswal (Chairman & MD)
- Headquarters: Mumbai, Maharashtra
- Overview: Motilal Oswal is one of India’s top full-service brokers known for strong research and wealth creation strategies.
It provides services in equity, commodity, derivatives, and wealth management.
The firm emphasizes long-term investment philosophies.
They have a strong presence in Tier I and II cities.
22. SBICAP Securities (SBI Smart)
- Key Person: Naresh Yadav (MD & CEO)
- Headquarters: Mumbai, Maharashtra
- Overview: A subsidiary of State Bank of India, SBICAP provides a 3-in-1 account for ease of investing.
They offer services in equity, mutual funds, and IPOs.
SBICAP is known for its reach and trust via the SBI brand.
Its integration with SBI banking makes it a convenient choice.
23. Kotak Securities
- Key Person: Jaideep Hansraj (CEO)
- Headquarters: Mumbai, Maharashtra
- Overview: Kotak Securities, part of Kotak Mahindra Bank, offers 3-in-1 accounts and full-service broking.
They are known for expert research, digital platforms, and robust advisory.
They provide services in equities, IPOs, ETFs, and mutual funds.
The firm also caters to institutional and NRI investors.
24. HDFC Securities
- Key Person: Dhiraj Relli (MD & CEO)
- Headquarters: Mumbai, Maharashtra
- Overview: HDFC Securities offers a seamless trading experience with HDFC Bank integration.
They provide a full-service offering including stocks, mutual funds, and bonds.
Their user-friendly platforms are popular with retail clients.
They are trusted for safety and strong advisory services.
25. ICICI Direct
- Key Person: Anup Bagchi (Executive Director, ICICI Bank)
- Headquarters: Mumbai, Maharashtra
- Overview: One of India’s most popular 3-in-1 brokerage services, backed by ICICI Bank.
It offers a wide range of services: equity, F&O, IPOs, mutual funds, loans, and insurance.
Their research reports are highly regarded.
Strong mobile and web platforms power their wide client base.
26. Karvy Stock Broking (Note: operations suspended by SEBI)
- Key Person: C. Parthasarathy (Chairman)
- Headquarters: Hyderabad, Telangana
- Overview: Once a leading full-service broker with a pan-India presence.
They offered investment, demat, and advisory services.
Their services are now suspended due to regulatory issues.
They played a big role in retail participation until 2020.
27. Paytm Money
- Key Person: Varun Sridhar (CEO)
- Headquarters: Bengaluru, Karnataka
- Overview: Paytm Money is a digital-first discount broker focusing on mobile-based investing.
It provides low-cost investing in stocks, F&O, mutual funds, and NPS.
Backed by the Paytm ecosystem, it attracts young, tech-savvy investors.
Minimal charges and high transparency are its key features.
28. m.Stock by Mirae Asset
- Key Person: Sudeep Saha (CEO)
- Headquarters: Mumbai, Maharashtra
- Overview: m.Stock offers zero brokerage across all segments with a one-time fee model.
It’s a bold, disruptive entry by Mirae Asset into broking.
The platform supports stocks, ETFs, mutual funds, and SIPs.
Its interface and pricing appeal to active traders.
29. Upstox
- Key Person: Ravi Kumar (Co-founder)
- Headquarters: Mumbai, Maharashtra
- Overview: Upstox is a low-cost brokerage with a highly rated trading platform.
It is backed by Tiger Global and Ratan Tata.
They offer free equity delivery and low brokerage in other segments.
Known for its ease-of-use and fast-growing user base.
30. FYERS Securities
- Key Person: Tejas Khoday (Co-founder & CEO)
- Headquarters: Bengaluru, Karnataka
- Overview: FYERS (Focus Your Energy & Reform the Self) is a discount broker tailored for traders.
It offers charting tools, zero brokerage on delivery, and flat Rs. 20 per trade.
FYERS Web is known for advanced features and intuitive design.
They focus heavily on user education and tools.
31. Ventura Securities
- Key Person: Hemang Kapasi (Director)
- Headquarters: Mumbai, Maharashtra
- Overview: Ventura is a full-service broker offering stockbroking and portfolio management services.
They operate both online and offline across India.
Their “Ventura Wealth” app offers access to stocks, mutual funds, and IPOs.
They are popular among traditional investors preferring advisory support.
32. Religare Broking Ltd.
- Key Person: Nitin Aggarwal (CEO)
- Headquarters: New Delhi
- Overview: Religare offers a broad suite of financial services including equity, commodity, and wealth management.
They have a strong retail network across India.
Their terminal-based software is favored by active traders.
They are rebranding after past regulatory challenges.
33. SMC Global
- Key Person: S.C. Aggarwal (CMD)
- Headquarters: New Delhi
- Overview: SMC Global is a diversified financial services company offering trading, research, and wealth services.
It has a vast network of branches and franchisees.
They also provide insurance and investment banking solutions.
SMC is preferred by HNIs and retail investors alike.
34. MasterTrust
- Key Person: Gaurav Jindal (Director)
- Headquarters: Ludhiana, Punjab
- Overview: MasterTrust has been serving investors for over 35 years.
They offer both discount and full-service brokerage services.
Known for regional dominance in North India.
They provide equity, commodity, mutual funds, and insurance.
35. Choice Broking
- Key Person: Kamal Poddar (MD)
- Headquarters: Mumbai, Maharashtra
- Overview: Choice Broking is part of the Choice Group and offers a wide range of financial products.
Their Investica platform supports mutual fund investments.
They offer personalized services and research reports.
Their mobile app “Jiffy” has gained traction recently.
36. Alice Blue
- Key Person: Sidhavelayutham M (CEO)
- Headquarters: Bengaluru, Karnataka
- Overview: Alice Blue is a discount broker offering flat Rs. 15 brokerage per trade.
It provides trading in equity, commodity, and derivatives.
Its ANT platform is used for fast execution and analysis.
Popular among new-age traders and educators.
37. Zebu Share and Wealth Managements
- Key Person: Babu Krishnamoorthy (CEO)
- Headquarters: Chennai, Tamil Nadu
- Overview: Zebu is a tech-enabled brokerage firm with a focus on Tier II & III cities.
They offer trading platforms in multiple regional languages.
Known for low-cost services and investor awareness initiatives.
Caters to retail and HNI clients alike.
38. Beeline Broking
- Key Person: Arpit Modi (Co-founder)
- Headquarters: Ahmedabad, Gujarat
- Overview: Beeline is a regional discount broker expanding rapidly across India.
They offer flat brokerage plans and investment education tools.
Their customer-first approach has made them popular in Gujarat.
The app supports stocks, ETFs, and F&O segments.
39. Trustline Securities
- Key Person: Ankit Kapoor (Director)
- Headquarters: Noida, Uttar Pradesh
- Overview: Trustline is a full-service broker offering equity, mutual fund, and PMS services.
It has strong roots in North India and a growing tech presence.
Its online platforms have been upgraded for a better experience.
Focuses on wealth creation and trust-building.
40. TradingBells
- Key Person: Amit Gupta (Founder & CEO)
- Headquarters: Indore, Madhya Pradesh
- Overview: TradingBells is a new-age brokerage with zero brokerage for delivery trades.
It is focused on youth and first-time investors.
They offer advisory, IPOs, and robo-investing services.
Strong digital marketing has helped them scale fast.
Here is the continuation of the Top 100 Stock Brokers in India, now listing entries 41 to 60, each with their key persons, headquarters, and a 4-line overview:
41. BMA Wealth Creators
- Key Person: Arun Kumar Mukherjee (Managing Director)
- Headquarters: Kolkata, West Bengal
- Overview: BMA is a full-service brokerage with over two decades in capital markets.
They offer trading, investment, insurance, and real estate advisory.
Their presence is strong in East India and growing nationally.
They cater to retail, HNIs, and institutional investors.
42. Samco Securities
- Key Person: Jimeet Modi (Founder & CEO)
- Headquarters: Mumbai, Maharashtra
- Overview: Samco is a discount brokerage known for flat-fee trading and analytics tools.
Their StockBasket and RankMF products are focused on long-term investors.
They offer smart reports, leverage tools, and automated investing.
Popular for innovation and user education.
43. Achiievers Equities Ltd.
- Key Person: Manish Shah (Managing Director)
- Headquarters: Kolkata, West Bengal
- Overview: Achiievers offers a wide array of financial services across asset classes.
They focus on affordability and awareness for small investors.
They have physical branches combined with digital platforms.
Well known in Eastern and Northeastern India.
44. Axis Direct
- Key Person: B. Gopkumar (CEO & MD, Axis Securities)
- Headquarters: Mumbai, Maharashtra
- Overview: Axis Direct is the retail broking arm of Axis Bank.
It offers 3-in-1 accounts for trading and investing.
The platform supports equity, bonds, mutual funds, and more.
Trust and seamless banking integration are key strengths.
45. NJ India Invest
- Key Person: Niraj Choksi (Co-founder & MD)
- Headquarters: Surat, Gujarat
- Overview: NJ India is a wealth management giant also offering mutual fund distribution and broking.
It has a strong network of financial advisors across India.
They focus on long-term wealth creation and financial planning.
Their online NJ E-Wealth account is gaining traction.
46. GEPL Capital
- Key Person: Amit Majumdar (Managing Director)
- Headquarters: Mumbai, Maharashtra
- Overview: GEPL Capital is a boutique investment firm offering advisory and broking services.
Their research-based approach supports wealth and portfolio management.
They offer both online trading and personalized client service.
They cater to HNIs, corporates, and retail clients.
47. Finvasia Securities
- Key Person: Sarvjeet Singh Virk (Managing Director)
- Headquarters: Chandigarh, Punjab
- Overview: Finvasia offers commission-free trading through its platform.
It brings global exposure and AI-powered analytics to Indian investors.
They also own the Shoonya trading app, which is growing fast.
Great for tech-savvy investors and low-cost trading.
48. SAS Online
- Key Person: Shrey Jain (Co-founder)
- Headquarters: New Delhi
- Overview: SAS Online offers ultra-low brokerage plans starting at Rs. 9 per trade.
It has web-based trading, desktop platforms, and APIs for developers.
Popular among active traders and algorithmic investors.
They also provide partner programs for sub-brokers.
49. GCL Securities
- Key Person: Harish Goyal (Founder & MD)
- Headquarters: Jaipur, Rajasthan
- Overview: GCL Securities is a full-service broker with strong regional presence in Rajasthan.
They offer equity, derivatives, currency, commodity, and mutual funds.
GCL’s online and offline services cater to a broad investor base.
They emphasize trust, education, and portfolio management.
50. Astha Trade
- Key Person: Priti Agrawal (Director)
- Headquarters: Bhopal, Madhya Pradesh
- Overview: Astha Trade is known for high exposure and leverage in intraday and derivatives.
They offer trading in equity, F&O, commodity, and currency segments.
Their rates are competitive and suited for high-volume traders.
Strong service support is a key highlight.
51. Indiabulls Ventures (now Dhani Stocks)
- Key Person: Sameer Gehlaut (Founder)
- Headquarters: Mumbai, Maharashtra
- Overview: Formerly Indiabulls, now rebranded to Dhani Stocks offering commission-free trading.
It focuses on a complete online investment experience.
Dhani App integrates broking, lending, and wellness services.
Well-known for aggressive offers and branding.
52. Angel One (formerly Angel Broking)
- Key Person: Dinesh Thakkar (Chairman & MD)
- Headquarters: Mumbai, Maharashtra
- Overview: A pioneer in online trading, now rebranded as a digital-first fintech company.
Angel One offers flat Rs. 20 brokerage, AI research, and user education.
Their ARQ Prime tool is an automated investment engine.
They serve millions of clients with mobile and web apps.
53. KIFS Trade Capital
- Key Person: Tarun J Khemani (Managing Director)
- Headquarters: Ahmedabad, Gujarat
- Overview: KIFS is a full-service broker offering equity, derivatives, and wealth advisory.
It operates across multiple asset classes with dedicated research.
They focus on long-term partnerships with clients and franchisees.
Known for personalized services and regional dominance.
54. ProStocks
- Key Person: Sunil Minglani (Co-founder)
- Headquarters: Mumbai, Maharashtra
- Overview: ProStocks is a zero-brokerage firm with subscription-based plans.
It offers Rs. 899/month unlimited trading plans with zero AMC Demat.
The platform supports active traders with APIs and back office tools.
Reliable for high-volume, cost-conscious traders.
55. Fyers (Focus Your Energy & Reform the Self)
- Key Person: Tejas Khoday (Co-founder & CEO)
- Headquarters: Bengaluru, Karnataka
- Overview: Fyers provides robust tools for traders like TradingView integrations and thematic investing.
Their platform suits analytical and professional traders.
They offer zero delivery brokerage and flat Rs. 20 for other trades.
Fyers emphasizes transparency and platform experience.
56. Arham Wealth
- Key Person: Kalpesh Parmar (Director)
- Headquarters: Mumbai, Maharashtra
- Overview: Arham Wealth is an emerging player in the Indian broking ecosystem.
They focus on investment advisory and equity broking.
Their services are tailored for retail and HNI clients.
The company emphasizes client relationship and portfolio growth.
57. Zerodha
- Key Person: Nithin Kamath (Founder & CEO)
- Headquarters: Bengaluru, Karnataka
- Overview: India’s largest discount broker with millions of active clients.
They revolutionized trading with zero delivery charges and Rs. 20 flat brokerage.
Zerodha’s Kite platform is known for simplicity and speed.
They have led the fintech wave in Indian capital markets.
58. RKSV Securities (Upstox)
- Key Person: Ravi Kumar (Co-founder)
- Headquarters: Mumbai, Maharashtra
- Overview: Backed by Ratan Tata and Tiger Global, Upstox is one of the top brokers in India.
It offers free delivery trades and low brokerage across all segments.
User-friendly interface and strong marketing helped scale rapidly.
They target millennials and first-time investors.
59. SBI Capital Markets Ltd.
- Key Person: Rajay Kumar Sinha (CEO)
- Headquarters: Mumbai, Maharashtra
- Overview: A full-service investment banking subsidiary of SBI, focusing on large institutional deals.
They also support IPOs and fundraising for corporates.
Not a typical retail broker but important for capital markets.
They’re a key player in India’s debt and equity markets.
60. Arihant Capital
- Key Person: Ashok Jain (Chairman & MD)
- Headquarters: Indore, Madhya Pradesh
- Overview: Arihant Capital is a full-service broker with a strong presence in central India.
They offer services in equity, derivatives, mutual funds, and insurance.
Arihant focuses on personal wealth management and research.
They also have an app and partner network.
61. Alice Blue
- Key Person: Sidhavelayutham M (Founder & CEO)
- Headquarters: Bengaluru, Karnataka
- Overview: Alice Blue is a discount broker known for its low brokerage and powerful ANT platform.
They offer Rs. 15 per order brokerage across all segments.
Popular among retail traders for equity, commodity, and currency.
They also provide APIs for algo trading.
62. Nuvama Wealth (formerly Edelweiss Broking Ltd.)
- Key Person: Rahul Jain (President – Personal Wealth)
- Headquarters: Mumbai, Maharashtra
- Overview: Nuvama is the rebranded broking arm of Edelweiss Group.
They serve HNIs, institutional clients, and retail investors.
Their platform includes advanced trading, research, and portfolio services.
Known for advisory-led wealth management.
63. TradePlus Online (Navia Markets)
- Key Person: Jeyandran V (CEO)
- Headquarters: Chennai, Tamil Nadu
- Overview: TradePlus is a tech-driven discount broker under Navia Markets Ltd.
It offers subscription-based and per-order brokerage models.
Known for zero AMC Demat and simple user interface.
Focuses on automation and affordability.
64. MyValueTrade (Master Capital Services Ltd.)
- Key Person: Pankaj Bansal (Director)
- Headquarters: Ludhiana, Punjab
- Overview: MyValueTrade is a discount arm of Master Trust Group.
Offers Rs. 10 per trade flat brokerage with robust support.
Covers equity, F&O, commodity, and mutual funds.
A solid choice for North India traders.
65. Stoxkart (SMC Global Securities Ltd.)
- Key Person: Himanshu Gupta (CEO)
- Headquarters: New Delhi
- Overview: Stoxkart is a discount trading platform by SMC Global.
They provide Rs. 15 per order plans and zero brokerage for delivery.
Their platform has charting, research, and training modules.
Popular among new-age traders.
66. Composite Investments Pvt. Ltd.
- Key Person: Anurag Gupta (Director)
- Headquarters: Kolkata, West Bengal
- Overview: A regional full-service brokerage with a focus on East India.
Offers equity, commodity, derivatives, and currency trading.
Known for personalized services and in-depth market knowledge.
They also provide PMS and IPO support.
67. Ajcon Global Services Ltd.
- Key Person: Ashok Ajmera (Chairman & MD)
- Headquarters: Mumbai, Maharashtra
- Overview: Ajcon Global is a BSE-listed financial services firm.
They offer broking, advisory, merchant banking, and wealth services.
Cater to retail, corporate, and government clients.
Strong in research-led investment solutions.
68. IndiaNivesh Securities Ltd.
- Key Person: Ravi Kiran Reddy (MD)
- Headquarters: Mumbai, Maharashtra
- Overview: IndiaNivesh offers broking and advisory for equity, commodity, and currency.
It also provides wealth management and research services.
Strong institutional network and customized offerings.
A well-established brand in investment circles.
69. Bonanza Portfolio Ltd.
- Key Person: Shiv Kumar Goel (Director)
- Headquarters: Mumbai, Maharashtra
- Overview: Bonanza is a large full-service broker with over 1600 outlets.
They serve over 3 lakh clients with services across all segments.
Also provide insurance, mutual funds, and real estate.
Known for pan-India presence and customer service.
70. Religare Broking Ltd.
- Key Person: Nitin Aggarwal (CEO)
- Headquarters: New Delhi
- Overview: A part of Religare Enterprises, it’s one of India’s older full-service brokers.
Offers a wide range of investment and insurance services.
Its rebranding as Care Health in insurance diversified the group.
Catering to retail and HNIs via online and offline modes.
71. Beeline Broking
- Key Person: Harsh Patel (Co-founder & CEO)
- Headquarters: Ahmedabad, Gujarat
- Overview: Beeline is a new-age, tech-centric brokerage firm.
Offers simple interfaces, low brokerage, and investment education.
Focus on transparency, trader tools, and algo access.
Rapidly expanding presence across Gujarat.
72. Zebu Share and Wealth Managements Pvt. Ltd.
- Key Person: B. P. S. Pradeep (Founder & CEO)
- Headquarters: Chennai, Tamil Nadu
- Overview: Zebu provides equity, derivatives, currency, and commodities trading.
Offers excellent back-office tools and personal relationship managers.
Focused on long-term client value and learning-based platforms.
Emerging fast in South India.
73. Way2Wealth Brokers Pvt. Ltd.
- Key Person: Rakesh Sethi (CEO)
- Headquarters: Bengaluru, Karnataka
- Overview: A Coffee Day Group company offering full-spectrum financial services.
Has strong presence in advisory, wealth management, and insurance.
Known for corporate client handling and HNI services.
Wide reach through offices in multiple cities.
74. IL&FS Securities Services Ltd. (Now part of IndusInd Bank)
- Key Person: Sumant Kathpalia (CEO, IndusInd Bank)
- Headquarters: Mumbai, Maharashtra
- Overview: IL&FS Securities provided clearing, settlement, and broking services.
Now integrated into IndusInd Bank’s operations post IL&FS crisis.
Institutional and retail focus with strong banking integration.
Well known for its earlier role in clearing services.
75. Trustline Securities Ltd.
- Key Person: Harish Agarwal (Chairman)
- Headquarters: New Delhi
- Overview: Trustline is a full-service brokerage with a wide branch network.
They focus on retail broking, mutual funds, and research advisory.
Trusted by over 1 lakh clients across India.
Focus on integrity and client relationships.
76. Yes Securities
- Key Person: Sumit Tandon (CEO)
- Headquarters: Mumbai, Maharashtra
- Overview: The broking arm of Yes Bank offering 3-in-1 accounts and wealth services.
They provide equity, derivatives, mutual funds, and IPOs.
They focus on secure, tech-integrated investing.
Growing traction among Yes Bank customers.
77. Tata Capital Markets Ltd.
- Key Person: Abonty Banerjee (Chief Digital & Marketing Officer, Tata Capital)
- Headquarters: Mumbai, Maharashtra
- Overview: Tata Capital’s broking division focuses on investment banking and wealth.
Primarily institutional and corporate-focused operations.
Strong ethical foundation and Tata Group trust.
Offers IPO advisory and capital raising services.
78. Anand Rathi Wealth Ltd.
- Key Person: Anand Rathi (Founder), Amit Rathi (MD & CEO)
- Headquarters: Mumbai, Maharashtra
- Overview: One of India’s most respected wealth management and broking brands.
They focus on HNIs, family offices, and corporate clients.
Offer full-service broking, portfolio, and insurance advisory.
Their research is widely respected in the market.
79. Ventura Securities Ltd.
- Key Person: Hemant Majethia (Director)
- Headquarters: Mumbai, Maharashtra
- Overview: Ventura is a well-known retail and HNI-focused full-service broker.
They provide a proprietary platform called Ventura Pointer.
Strong presence in Tier-2 and Tier-3 cities.
They also offer PMS and research services.
80. RMoney (Raghunandan Money)
- Key Person: Ajay Agarwal (Managing Director)
- Headquarters: Agra, Uttar Pradesh
- Overview: RMoney is a growing broker with a strong rural and semi-urban presence.
They offer trading in equity, commodity, and mutual funds.
Known for financial inclusion and investor education.
They also operate an NBFC arm.
Here is the final batch of the Top 100 Stock Brokers in India, covering entries 81 to 100, with key persons, headquarters, and 4-line company overviews:
81. Goodwill Wealth Management Pvt. Ltd.
- Key Person: Balamurugan Ramasamy (CEO)
- Headquarters: Chennai, Tamil Nadu
- Overview: Goodwill is a full-service brokerage firm with a strong presence in South India.
They offer trading in equities, commodities, and currencies.
Known for multilingual customer support and strong advisory services.
Focuses on investor education and ethical practices.
82. Gogia Capital Services Ltd.
- Key Person: Ravi Gogia (Managing Director)
- Headquarters: New Delhi
- Overview: Gogia Capital is a boutique investment and trading firm.
Offers equity trading, IPO investments, and financial planning.
Strong in Delhi-NCR region with personalized services.
Caters to HNIs and individual investors.
83. Geojit Financial Services Ltd.
- Key Person: C. J. George (Founder & MD)
- Headquarters: Kochi, Kerala
- Overview: Geojit is a veteran brokerage with a pan-India and GCC presence.
Provides trading, mutual funds, portfolio management, and NRI services.
One of the pioneers in online trading in India.
Known for innovation and regional dominance.
84. Canara Bank Securities Ltd.
- Key Person: S. K. Majumdar (CEO)
- Headquarters: Mumbai, Maharashtra
- Overview: A subsidiary of Canara Bank offering 3-in-1 accounts for trading.
Primarily caters to retail and banking clients.
Offers equity, derivatives, mutual funds, and research.
Backed by a trusted PSU bank legacy.
85. IIFL Securities Ltd.
- Key Person: R. Venkataraman (Chairman & MD)
- Headquarters: Mumbai, Maharashtra
- Overview: IIFL is a major full-service broker with a vast network and digital platforms.
Provides advisory, broking, insurance, and wealth management.
Known for IIFL Markets App and active research desk.
Targets retail, HNI, and institutional segments.
86. BP Equities Pvt. Ltd.
- Key Person: Amit Shah (Director)
- Headquarters: Mumbai, Maharashtra
- Overview: BP Equities focuses on equity research, trading, and portfolio services.
Offers execution services for retail and institutional clients.
Recognized for in-depth technical and fundamental research.
Also active in PMS and advisory.
87. Fyers Securities
- Key Person: Tejas Khoday (Co-founder & CEO)
- Headquarters: Bengaluru, Karnataka
- Overview: FYERS (Focus Your Energy and Reform Self) is a tech-first discount broker.
Provides zero-brokerage for delivery and flat-rate trading.
Known for their TradingView integration and FYERS One platform.
Popular among traders for charting tools and APIs.
88. Karvy Stock Broking Ltd. (Now Defunct)
- Key Person: C. Parthasarathy (Former Chairman)
- Headquarters: Hyderabad, Telangana
- Overview: Once a leading full-service broker with vast nationwide presence.
Karvy collapsed due to regulatory and financial irregularities.
SEBI banned them and many clients migrated to other brokers.
A cautionary tale in India’s broking history.
89. VNS Finance and Capital Services Ltd. (Trade Smart)
- Key Person: Vikas Singhania (CEO)
- Headquarters: Mumbai, Maharashtra
- Overview: Trade Smart is the discount brokerage arm of VNS Finance.
Offers flat-fee and volume-based plans for active traders.
Provides integrated trading tools and APIs.
Focused on simplicity, speed, and support.
90. Asit C. Mehta Investment Intermediates Ltd.
- Key Person: Deena Mehta (Managing Director)
- Headquarters: Mumbai, Maharashtra
- Overview: ACMIIL is a BSE-registered investment and broking house.
Offers retail and institutional trading, research, and financial planning.
Legacy firm with a focus on transparency and ethics.
Also involved in investor education and webinars.
91. Vachana Investments Pvt. Ltd.
- Key Person: Vachana Viswanath (Founder & CEO)
- Headquarters: Bengaluru, Karnataka
- Overview: A regional brokerage focused on educating new investors.
Known for affordable plans and responsive customer support.
Emphasizes knowledge-first approach in equity markets.
Rapidly growing in Karnataka and nearby states.
92. IDBI Capital Markets & Securities Ltd.
- Key Person: Nagaraj Garla (Managing Director & CEO)
- Headquarters: Mumbai, Maharashtra
- Overview: A wholly owned subsidiary of IDBI Bank.
Provides retail and institutional trading, wealth services, and research.
Trusted PSU background with banking integration.
Caters to conservative and long-term investors.
93. Aditya Birla Money Ltd.
- Key Person: Vishakha Mulye (CEO – Aditya Birla Capital)
- Headquarters: Chennai, Tamil Nadu
- Overview: A part of the Aditya Birla Capital Group offering broking and financial services.
Provides online and offline equity, derivatives, and mutual fund platforms.
Leverages group strength in research and wealth advisory.
Presence in over 1,000 towns.
94. Inventure Growth & Securities Ltd.
- Key Person: Narendra Biyani (Chairman & MD)
- Headquarters: Mumbai, Maharashtra
- Overview: A full-service brokerage listed on NSE and BSE.
Offers capital market services, wealth management, and IPOs.
Focuses on innovation and investor education.
Maintains strong compliance standards.
95. Shcil Services Ltd.
- Key Person: Pradeep Nair (CEO)
- Headquarters: Mumbai, Maharashtra
- Overview: Subsidiary of Stock Holding Corporation of India Ltd.
Provides broking, depository, and DP services.
Strong focus on institutional and retail clients.
Trusted for secure and compliant execution.
96. KIFS Trade Capital
- Key Person: Ankit Dalal (Executive Director)
- Headquarters: Ahmedabad, Gujarat
- Overview: KIFS is a Gujarat-based stock broking and financial services provider.
Offers broking, mutual funds, insurance, and loans.
Caters to Tier 2 and Tier 3 cities in West India.
Known for relationship-based client engagement.
97. Angel One (formerly Angel Broking)
- Key Person: Dinesh Thakkar (Chairman & MD)
- Headquarters: Mumbai, Maharashtra
- Overview: A leading digital-first brokerage with millions of users.
Offers zero-brokerage delivery and smart investment features.
Popular for Angel One App and SmartAPI.
Strong pan-India network and digital campaigns.
98. Indiabulls Securities Ltd.
- Key Person: Gagan Banga (Vice Chairman)
- Headquarters: Mumbai, Maharashtra
- Overview: Part of Indiabulls Group, offering trading and investment solutions.
Provides platforms for stocks, commodities, and mutual funds.
Targets retail, NRI, and institutional investors.
Also provides NBFC lending products.
99. Marwadi Shares and Finance Ltd.
- Key Person: Ketan Marwadi (Chairman)
- Headquarters: Rajkot, Gujarat
- Overview: A regional leader in broking and wealth management.
Strong presence in Gujarat and Western India.
Offers trading, mutual funds, and fixed-income products.
Focuses on investor trust and long-term planning.
100. Kotak Securities Ltd.
- Key Person: Jaideep Hansraj (CEO)
- Headquarters: Mumbai, Maharashtra
- Overview: Part of Kotak Mahindra Bank offering full-service broking.
Popular for 3-in-1 accounts and Smart Advisor tools.
Caters to retail, HNIs, and institutional clients.
Strong brand trust and financial strength.