Before we discuss about the best stock brokers for beginners in India, let’s understand why is it necessary for an investor to choose his stock broker wisely. It’s very important to choose the right broker as per your needs.
An intraday trader may choose a broker who offers him extra margin at a significantly lower interest cost. But, what if such broker auto square of trades at 3PM instead of 3.15PM? Is it worth it? In my opinion, NO. The position might turn profitable in those 15 minutes. Similarly an investor who trades in commodities, futures and options needs to choose a broker who’s beneficial for his trades.
An equity delivery investor may choose any broker but have you ever heard of a broker ‘s app for website going down on a trading day? Yes, just like any other website or app your brokers platform may go down. Thus you should choose your broker with utmost care. One must always go for a broker who’s platform is reliable.
It may not be possible for you to study each and every brokers platform, services and charges thus we’ve sorted out a list of some of the best stock brokers for beginners in India in [currentyear]. Though I’m saying that this list applies to beginners, these are trustworthy brokers whom I’ve personally tried and tested. I trade with two brokers to eliminate the risk of any technical issues on trading platform. I use zerodha & upstox, both of these brokers are used by millions of investors.
Also Read: What is share market?
Here’s a list of the best stock brokers for beginners in India 2023
Zerodha
Zerodha has 6+ million clients who contribute to over 15% of all retail order volumes in India daily. With Zerodha, you can invest or trade in stocks & IPOs, futures and options, commodity derivatives, currency derivatives, direct mutual funds, bonds and government securities etc.
Zerodha also offers varsity, the largest online stock market education book in the world covering everything from the basics to advanced trading. You may also explore Q & A section at zerodha. Trading Q&A, is the most active trading and investment community in India for all your market related queries.
Charges
₹0 Free equity delivery and direct mutual funds
₹20 per order on Intraday
₹20 per order for Future & Options
Upstox
Whether you are a long term investor, a pro traders or part-time traders can choose across various asset classes and create a customised portfolio at upstox. Everything at one platform. Stocks, Mutual ,Gold, IPOs, Future & Options
Charges
₹0 on Stock investments (Delivery orders)
₹20 per order on Intraday
₹20 per order for Future & Options
Angel One
Angel One (formerly known as Angel Broking) is one of the largest independent full-service retail broking houses to India. Angel One has been operating for over 20+ years now.
Angel One offers a safe, seamless, online share trading platform. They are known for the expert research for technical analysis and portfolio maintenance services. It being a full service broker can be a good option for full time traders and long term investors in my opinion.
Charges
₹0 on Stock investments (Delivery orders)
₹20 per order on Intraday
₹20 per order for Future & Options
₹20 per order for Commodities & Currency
Also Read : How to increase IPO allotment chances?
5Paisa
You can use 5Paisa for all your investments – stocks, mutual funds, commodities, currency, F&O, bonds, gold, insurance etc. 5Paisa in association with Vested, provides zero commission investing in the US market. Also, it’s the only public listed company in discount broking space as of now.
Charges
FLAT ₹20 per order for Stocks, Commodities, Currency (It’s better to go for flat rates when you trade huge quantity)
₹0 Commission on Mutual Funds
You can also go for their Power Investor Pack or Ultra Trader Pack wherein you’ll get ₹ 10 per order, Free Research Ideas, Free Trades, Derivative Strategies, 0 DP Charges, Research on 4000+ Companies and Portfolio Analytical Tools. Learn More!
Groww
Though being a relatively new platform Groww has its own benefits. You can invest in stocks, mutual funds, futures and options, US stocks, gold and fixed deposits everything at one place. Over 10 million Indians already chose Groww as their trusted investment partner. It’s one of the most cost effective broker!
Charges
₹0 Demat & Trading Account Opening Charges
₹0 Annual Maintenance Costs
Equity brokerage of ₹20 or 0.05% percent of executed order whichever is less
₹20 per executed order for Futures & Options
Learn more about the detailed charges here.
