Top 10 Largest Stock Brokers in India 2026

In a country like India, where the stock market is becoming the go-to option for wealth creation, choosing the right broker can make all the difference to traders and investors. Whether you are a seasoned investor or just starting your stock market journey, knowing the stockbroker who stands out best in the country carries weight. 

But what exactly makes a stockbroker the ‘largest’? Is it just about numbers, or is there more to the story? We dig into the latest NSE active-client data to bring you the 10 largest stock brokers in India today, and what this means for you as an investor. 

List of the 10 Largest Stock Brokers in India (2026)

Here is the list of the 10 biggest stock brokers in India based on the number of active clients registered with NSE as of July 2026:

Groww overtook Zerodha as India’s largest stock broker by active clients in 2023, and has continued to extend its lead since. Together, Groww, Zerodha, and Angel One now account for over 58% of all active clients on NSE.

List of 5 Best Stock Brokers in India

We’ve compiled the list of the top stock brokers in India using parameters like ratings, charges, and services.

Overview of the Largest and Best Stock Brokers in India:

Now that we know the largest stock brokers in India, let’s explore their product offerings, trading platforms, and key features.

1. Rupeezy

Rupeezy, earlier known as Astha Credit and Securities Pvt Ltd, is one of the leading and best stock brokers in India, which was established in the year 2005. With over 20 years of customer trust, Rupeezy currently has more than 1.5 lakh active users. 

Products offering:

• Stocks

• ETFs

• Mutual funds

• IPO

• Futures and Options

• Commodities

• Margin Trading Facility

• Integrated feature for Stock SIP and MTF SIP.

Features:

• Integrated feature for Stock SIP and MTF SIP.

• ‘Basket Order’ feature, which creates multiple orders in a basket to be executed all at once. 

• ‘Advanced Option Strategy Builder’, which provides strategies based on your market prediction

• ‘F&O Scanner’ will help you trade without spending too much time scanning the market. 

• ‘Smart explore’ for mutual funds to visualize the risk-return matrix.

• ‘MF Lab’ to compare and back-test portfolios.

• ‘Impact analysis’ to assess the impact of new funds on your portfolio.

• ‘Portfolio overlap’ to identify overlapping stocks in mutual fund holdings.

• ‘Peer comparison’ to compare mutual fund schemes within the same category.

• ‘Return calculator’ to calculate CAGR for SIP and lump-sum investments in mutual funds.

• ‘Automate SIP’ to set up and automate SIPs with flexible frequencies.

Charges:

• Account opening fee is charged at Rs 0.

• Zero AMC (Account Maintenance Charges) for lifetime (demat and trading account).

• Equity delivery at Rs 0 brokerage.

• F&O brokerage to be charged at Rs 20 per order.

• Margin Trading Facility interest to be charged at 0.03% per day or 10.99% per annum. 

• For investors looking to increase their buying capacity for eligible delivery stocks, a Margin Trading Facility (MTF) allows them to pay only a portion of the trade value upfront, with the remaining amount funded by the broker. Investors should consider the applicable interest costs, stock eligibility, and market risks before using MTF.

2. Groww

Groww, operated by Groww Invest Tech Pvt Ltd (formerly Next Billion Technologies), was founded in 2016 by four ex-Flipkart employees. It overtook Zerodha in 2023 to become India’s largest stock broker by active clients, and today has 1,30,32,121 active clients on NSE — nearly double its nearest competitor.

Products offering:

• Stocks

• Mutual funds

• Futures and Options

• IPO

• US Stocks

• Digital Gold

• Fixed Deposits

Features:

• Simple, beginner-friendly interface for first-time investors.

• Integrated mutual fund and stock investing in a single app.

• Advanced F&O tools including option chain analysis and strategy builder.

• Free stock and mutual fund SIPs.

• Groww also offers fixed deposits and digital gold investment options.

Charges:

• Account opening and AMC are Rs 0.

• Equity delivery and intraday brokerage are charged at Rs 20 or 0.05% per order, whichever is lower (minimum Rs 5).

• Futures and Options brokerage is a flat Rs 20 per order.

3. Zerodha

Zerodha, meaning ‘Zero Barriers’, is one of the leading stock brokers in India, which was incorporated in the year 2010. It was the largest stock broker in India by active clients for several years before Groww overtook it in 2023. At present, Zerodha has 68,83,999 active clients on NSE.

Products offering:

• Stocks

• Mutual funds

• Futures and Options

• IPO

• Fixed income securities

• Gift stocks

Applications:

• Zerodha Kite for trading

• Zerodha Coin for mutual fund investments

• Zerodha Varsity for educational resources.

Features: 

• Advanced trading tools for charting, F&O analytics, investment research, and backtesting.

• Filtered and curated updates for your portfolio investments.

• Free access to Zerodha’s ecosystem products like Sensibull, Tijori, Streak, Quicko, and more.

• Nudges in the order window to help make better decisions.

• No spam or gamification. 

Charges:

• All equity delivery instruments at Rs 0 brokerage.

• All direct mutual fund investments are at Rs 0 commission.

• Intraday trades across equity, currency, and commodity trades are charged at flat Rs 20 or 0.03%, whichever is lower. 

• Option trades are charged at a flat Rs 20 per order.

4. Angel One

Angel One started its journey in 1996 as a traditional brokerage firm that was always driven by a deep sense of empathy towards its customers. Now, with close to 30 years of trust from its customers, the company has 67,43,840 active clients on NSE, making it the third-largest broker in India.

Products offering:

• Equity

• Commodities

• Derivatives

• Currency trading

• Mutual funds

• ETFs

• IPO

• Futures and Options

• US Stocks

• US ETFs

• Bonds

Features:

• Portfolio and investment advisory to make informed decisions.

• 24*7 order placement benefit.

• Swifter charts that are powered by advanced indicators, multi-chart layouts, direct trading from charts, etc.

• Fast order payments to trade with speed and precision.

• Basket orders are for placing multiple orders in one transaction.

• Portfolio Health Score to diagnose the health of your portfolio and construct an ideal portfolio.

Charges:

• Account Maintenance Charges are Rs 0 for the first year.

• Equity delivery, intraday, F&O, currencies, and commodities brokerage will be Rs 0 up to Rs 500 for the first 30 days, after which normal brokerage will be applicable. Thereafter, the brokerages will be Rs. 20 or 0.1% (minimum Rs. 2) per executed order for Stock Investments, Rs. 20 or 0.03% for Intraday Trading, and Rs. 20 per executed order for Futures & Options.

5. Upstox

Upstox, formerly known as RKSV, began its trading business in India in the year 2012. It was the first retail trading platform to launch unlimited trading plans and the first company in the industry to launch a completely paperless account opening process. Currently, Upstox has 19,61,826 active clients on NSE.

Products offering:

• Stocks

• Mutual funds

• IPOs

• Futures and Options

• Commodities

• Currencies

Features:

• ‘Advanced option chain’ analysis tool with customisable data points like PCR, Max Pain, India VIX, etc.

• ‘Curated Smartlists’ like Most active, Top traded, Losers, etc.

• ‘TradingView’ and ‘ChartIQ’ charts with 100+ indicators and 80+ drawing tools.

• In-depth OI analysis tools.

• ‘20-leg basket orders’ can be placed with one click.

• ‘GTT’ and ‘Trailing Stop Loss’ to automate and manage trading risks.

• Ready-made Options strategies for a safer way of trading in Options. 

• Margin pledge to get up to 90% collateral margin.

• 4x leverage for equity delivery orders in MTF.

• 5x leverage for Equity Intraday.

Charges:

• Account Maintenance Charges are Rs 0 for the first year. 

• Mutual fund and IPO brokerage are charged at Rs 0.

• The maximum brokerage per order is Rs 20.

6. ICICI Direct (ICICI Securities)

ICICI Direct was launched by ICICI Securities in the year 2000. It acts as a virtual financial supermarket and provides services for broking, distribution of financial products, wealth management, and investment banking. ICICI Securities now has 20,97,085 active clients on NSE, making it the fourth-largest broker in India.

Products offering:

• Stocks

• IPOs

• Mutual funds

• Commodities

• Futures and Options

Features:

• ‘3-in-1 Account’ integrates savings, demat, and trading accounts under one seamless account. 

• Create and manage multiple watchlists.

• Receive investment recommendations based on expert analysis.

• Instant credit to your account within 5 minutes of selling shares.

• Availability of advanced charting tools like TradingView and ChartIQ.

• Get upcoming IPO updates via WhatsApp.

Charges:

• The delivery charges range from 0.07% to 0.25%.

• MTF interest rates per annum range from 9.69% to 17.99%.

• Intraday and Futures charges range from 0.007% to 0.025%.

7. Kotak Securities

Kotak Securities Limited is one of India’s oldest stockbroker companies, backed by Kotak Bank, and was started in the year 1994. Their wide range of services include research, advisory, wealth management, portfolio management, and a lot more. Kotak Securities currently has 13,85,446 active clients on NSE. 

Applications:

• Kotak Connect helps investors and other participants to know about the Kotak Institutional Equities conference and other events as well. 

• Kotak Neo is an online trading and investing application.

Products offering:

• Stocks

• Mutual funds

• Commodities

• Futures and Options

• Margin Trading Facility

• IPOs

• ETFs

• Bonds

Features:

• Price alerts and portfolio analysis.

• TradingView charts on the Kotak Neo application to make smart trading options.

• ‘Basket Order’ to buy and sell multiple options contracts.

• ‘Payoff Analyzer’ to build and analyse your option trading strategies.

• Option chain with Greeks, PCR, and IVP.

• ‘InstaTrade’ for easy selection of Option trading.

• ‘Kill switch’ for overtrading.

• ‘Bracket order’ for risk management and profit protection.

• ‘Order slicing’ to place a large number of F&O orders beyond the exchange limit quantity.

• No holding period for MTF.

Charges:

• Rs 0 brokerage on stock investing

• Rs 10 per order on all intraday trades and F&O orders

• 9.75% interest p.a. is charged for MTFs 

8. HDFC Securities

HDFC Securities was started in the year 2000 and is backed by HDFC Bank. It provides various services like research and advisory, which makes it easier for beginners as well as active traders. HDFC Securities currently has 13,79,984 active clients on NSE. 

Products offering:

• Equity

• Derivatives

• Mutual funds

• Fixed income securities

• Bonds

Features:

• ‘Star portfolio’ to track and manage your investment portfolio

• ‘Zapp orders’ for quick and efficient trading order placement.

• Comprehensive ‘get quote’ for quick decision making.

• Real-time Option chain.

• Applying for the latest IPOs with just two clicks using UPI.

• Create multiple watchlists and place buy/sell orders.

Charges:

• The minimum brokerage per order for equities is Rs 25. 

• Delivery-based trades brokerage is charged at 0.50% or a minimum of Rs 25 or a ceiling of 2.5% on transaction value.

• 0.05% or Rs. 25 per order for buy & sell in the futures market

• Option market brokerage is charged at a higher of 1% of the premium amount or Rs 100 per lot. 

9. SBI Securities

SBI Securities Ltd is managed under the State Bank Group and was established in the year 2006. SBI Securities now has 11,60,277 active clients on NSE, moving up to the eighth-largest broker in India. 

Products offering:

• Equity

• Derivatives

• Bonds

• IPOs

• MTF

• ETFs

• Mutual funds

Features:

• 4x buying power with e-margin.

• ‘Instacharts’ to help you switch between charts and option chains to place F&O orders instantly.

• Option chain with Greeks and trade using One-View Option chain.

• Mutual Fund SIP or One-time investments

• Expert insights, research recommendations on stock market trading & trends

Charges:

•  3-in-1 Account opening is done at Rs 0.

• The delivery charges range from 0.20% to 0.50%.

• Intraday is charged at Rs 20 per order.

• The e-margin charges range from 0.40% to 0.50%. 

• Futures are charged at either 0.05% or Rs 20 per order, according to your plan.

• Options charges range from Rs 20 per lot to Rs 50 per lot. 

• ETFs are either free of charges or 0.50% or 0.35%, as per your plan.

10. Dhan

Dhan, operated by Raise Securities Private Limited (formerly Moneylicious Securities), was incorporated in the year 2021 in Mumbai. It is a technology-led platform designed for active traders and long-term investors. Dhan has climbed into the top 10 with 10,51,951 active clients on NSE. 

Applications:

• ‘Dhan Share Market Trading App’ is a share market application built for super traders and long-term investors.

• ‘Options trader by Dhan’ is an Option trading application.

Products offering:

• Stocks

• Mutual funds

• Commodities

• Futures and Options

• ETFs

• IPOs

• Margin Trading Facility

Features:

• ‘Dhan Web’ trading platform for Big Screens.

• ‘Dhan+ TradingView’ for advanced chart features. 

• ‘ScanX Stock Screener’ for stock insights and market research.

• Market orders can be availed for investing after 3:30 pm.

• Payoff graphs, Greeks, and Live Volumes for F&O informed decisions. 

• Trailing Stop Loss, Iceberg, and Forever (GTT) for advanced order types. 

Charges:

• Brokerage on investing is Rs 0.

• Mutual fund investments charges at Rs 0.

• Brokerage on ETF investments is Rs 0.

• Intraday trading is Rs 20.

• Rs 20 or 0.03% (whichever is lower) on futures trades.

• Flat Rs 20 fee on options across all segments.

Right behind Dhan is Motilal Oswal Financial Services (9,01,868 active clients), followed by Paytm Money and INDmoney, which are also growing fast but currently sit just outside the top 10 by NSE active clients.

Comparison of the Largest Stock Brokers in India (NSE Active Clients, July 2026)

Here is the comparison table of the biggest stock brokers in India, based on the number of active clients registered with NSE and their approximate share of all active clients on the exchange (total NSE active clients: approx. 4.56 crore as of mid-2026): 

Source: NSE active-client data, compiled via third-party aggregator (Pocketful, updated 17 July 2026) and cross-checked against exchange active-client disclosures. “Active client” is defined by the exchange as an investor who has placed at least one trade in the preceding 12 months, so these figures can differ from a broker’s own “registered user” or “active trader” counts.

Is the Largest Broker Always the Best Broker in India?

Being the largest stockbroker would typically mean that they have the highest number of active clients or the biggest market share. This reflects the popularity and scale, but size alone does not always guarantee quality or the best fit for every investor or trader. 

On the other hand, the best stockbroker is not just defined by size or popularity, but the right balance of features, reliability, and user experience, which will be tailored to different types of investors and traders. 

Henceforth, the best stockbroker is the one that fits your investing goals and budget and has user-friendly features. So, having a clear perspective of the difference between the largest and the best stockbroker is important before starting your investment and trading journey, and Rupeezy, being the best stockbroker in India, can offer you all these under one roof!

When comparing leading stock brokers and analysing the broader market, investors can also use a stock market performance heatmap to quickly identify sector trends, top-performing stocks, and market movers. This can provide a visual snapshot of overall market performance before making investment decisions.

How to Open a Trading Account?

You can open a demat account in just a few minutes by completing the steps below:

Step 1: Download the Rupeezy Trading App from the Play Store or the App Store. If not, you can make use of the Rupeezy website. 

Step 2: Add your necessary details such as DOB, Email, PAN, etc. 

Step 3: Upload your KYC documents such as PAN Copy, Aadhar details, etc.

Step 4: Add your bank details such as bank name, account number, IFSC, etc.

Step 5: Upload your photograph by clicking on your phone or website.

Step 6: Complete the verification process by entering the OTP received.

Step 7: Once your KYC has been approved, your demat account is activated. 

Frequently Asked Questions

Which is the largest stock broker in India in 2026?

Groww is currently the largest stock broker in India, with over 1.3 crore (1,30,32,121) active clients on NSE as of July 2026 — well ahead of Zerodha and Angel One, which hold the second and third spots.

Is Groww bigger than Zerodha now?

Yes. Groww overtook Zerodha in active-client count back in 2023 and has continued to extend its lead since. As of July 2026, Groww has roughly double the number of NSE active clients that Zerodha has.

How does NSE define an ‘active client’?

NSE classifies an active client as any investor who has placed at least one trade in the preceding 12 months. This is different from a broker’s own ‘registered users’, ‘app downloads’, or ‘active traders’ figures, which are usually calculated differently and can be higher.

Is the largest broker always the best broker for you?

Not necessarily. The largest broker just reflects scale and popularity. Whether it’s the best broker for you depends on the brokerage charges, platform features, customer support, and overall experience that fit your own trading or investing style.

Which stock brokers offer the lowest brokerage charges in India?

Several brokers, including Rupeezy, Zerodha, Groww, and Upstox, charge Rs 0 brokerage on equity delivery trades and a flat fee (typically around Rs 20) per order on intraday and F&O trades. It’s worth comparing account opening fees, AMC, and MTF interest rates too, since these vary more between brokers than headline brokerage does.

How often does the ranking of largest stock brokers change?

NSE publishes active-client data every month, so broker rankings can shift slightly from month to month as investors open or close accounts. That said, the top 3 — Groww, Zerodha, and Angel One — have held their positions since 2023.

Conclusion

In a rapidly growing investment ecosystem like India, the largest stock broker stands as a symbol of trust, scale, and accessibility. While sheer size speaks volumes about reach and popularity, it does not automatically mean it is the right fit for every investor. 

Therefore, the key here is to understand your own financial goals, preferences, and trading styles, and then choose a broker that aligns with them. After all, in the world of investing, it is not just about who leads the market, but it is about who leads you to your financial goals!

Choosing a broker is only one part of building an investment strategy. Goal-based investment planning can help investors align their investments with specific financial goals, investment horizons, and risk tolerance before selecting the right products and investment approach.