When talking about the best stock broker in India, we cannot rule out Zerodha. It is the market leader in bargain stockbroking, is premised in Bengaluru, and accounts for more than 15% of total retail trading activity in the country. Mr. Nitin Kamath formed the leading brokerage firm in 2010 Kamath, and it now has a customer base of over 6 million.
Before becoming an investor, you must first sign up with a stockbroker. The stockbroker will behave as a go-between between the market and the trader. So, before you invest in the stock market, you should be aware of the best stock brokers in India.
Stockbrokers are important figures in major stock exchanges such as the BSE and NSE.
A stockbroker is a professional trader who acts for the client. They manage the brokerage account and deal with stock sales and purchases. They are also known as registered representatives or investment advisors. Typically, stockbrokers collaborate with investment companies to generate clients.
Broker-dealers and financial advisers are sometimes alluded to as stockbrokers. Financial companies include both full-service traders and discount brokers, who only execute trades and do not provide individual investors with investment advice.
With over 6 million clients spread worldwide, it is considered India's leading discount stockbroker. It provides advanced products and benefits and all other security mechanisms to enable safe and private online payments. For its explicitly simple user interface and framework, prospective buyers can try its Zerodha Kite 3.0.
For capital trades and distribution, Zerodha charges no commission fees. It also provides its customers with 20X leverage on buying and selling. You can open a new Zerodha account immediately by paying a one-time fee of Rs. 200/-. Other services, such as investing in futures and options, mutual funds, and derivatives, are also available. You can also access many Zerodha features through its mobile trading app.
Zerodha being the topmost stockbroker in India, provides many products & services. Let's take a look at some of them in detail:
Kite 3.0 is a cutting-edge trading platform with broadcast market information, sophisticated charts, and an elegant user interface. Zerodha provides a clean and simple, intuitive, sensitive, light, and reliable web and mobile trading software. On the other hand, Kite offers less than 0.5 Kbps bandwidth for a proper market watch, comprehensive monitoring with over 100 metrics, and six chart kinds.
Advanced order types include brackets and cover, microsecond order positions, and more. Overall, Kite offers an excellent customer experience through pioneering inventions presented with simple usability.
Zerodha Coin is a framework that allows you to purchase mutual funds directly from financial institutions online. Since August 24, 2018, this platform has been completely free. You can create your investments here without paying any fees.
You can have Direct investment products in DEMAT form with the comfort of a single portfolio throughout all equity, MF, currency, and so on, thanks to Zerodha Coin. It includes a single investment income statement, P&L visualizations, and other features. This Zerodha Coin has made SIP investments extremely simple and flexible.
Kite Connect APIs are used to control this conceptual investment platform. Smallcase assists users in making investment decisions by sensibly providing calibrated baskets of equities in each theme.
Is it safe to invest in Zerodha for the long run? This is one of the most common concerns among first-time speculators. HDFC Securities, ICICI Direct, SBI Cap, Kotak Securities, and other big names in the broking sector have been around for years. As a result, they have gained more trust than Zerodha, particularly those who have never heard of it.
In any case, Zerodha, the discount broker, was founded in 2010. As a result, if you haven't been embroiled in stock market investments/trading in the last ten years, it's not surprising that you may not have heard of this broker. However, in just over a decade, Zerodha has beaten all major traditional brokers. And, that’s why it ranks as the No.1 Stock Broker in India.
Upstox is India's popular stockbroker and one of the first low-cost brokerage firms. They offer transactions at nominal prices. Additionally, they offer equities, commodity markets, currency, futures, and options services. All services are rendered through two platforms. Trading platforms Upstox Pro Online and Upstox Pro Mobile.
They also provide a trading platform, analysis, charting, and other advanced trading characteristics. It facilitates order placement via mobile phones and internet browsers.
Angel Broking currently provides the 'Angel iTrade PRIME' flat-rate stockbroking plan. It allows you to trade in all sections (Intraday, F&O, Currencies & Commodity markets) for Rs 20 per trade, except Equity Delivery, which has no charges. Angel is referred to as the first large-scale full-service broker. Customers can get discounted brokerage prices from them. Because it is great for beginners, the framework is also regarded as the best brokerage firm for beginners in India.
ICICI Direct provides an online financial and commercial platform. With over 50 lakh customers, it is among the best stock brokers in India. They provide equity, commodity, and currency speculation services on the BSE, NSE, and MCX. The company also provides services in mutual funds and initial public offerings, fixed deposits, bonds, NCDs, capital products, housing loans, loans against securities, etc. This is the best choice for individuals who are searching for an old school broking firm.
Many discount brokers in India provide exceptional services. However, when talking about the best stock broker in India, no doubt, Zerodha scores the best position. Zerodha has garnered the trust and confidence of the trading community over the last couple of years by providing dependable and technically sophisticated trading services.
Check their growing number of traders and investors that has reached 6 million in a few years, indeed a big number worth mentioning here.
And, that’s why we call it India's biggest discount broker. So, if you want to open a trading account with a quality brand, offering low brokerages and a quick trading platform, Zerodha is one of the best choices. What do you think? Any comments thereon, do discuss.