A genuine list of top share brokers in India 2020 by the number of the active clients in 2020. Zerodha is the top most stock broker among all the brokers in India since 2019. Zerodha is followed by Upstox, Angel Broking, ICICIdirect and Groww.

There are 20 top stock brokers who have over 1 lakhs of active customers. The year wise list of top stock brokers in India also provides detail about the latest number of active clients with the broker. Find the top online broker rankings 2020 below:

Top 20 Share Brokers in India 2020

Rank Broker Active Clients Request Callback Review
1Zerodha3,602,074Open Account Zerodha
2Upstox2,141,095Open Account Upstox
3ICICIdirect1,580,233Open Account ICICIdirect
4Angel Broking1,564,667Open Account Angel
5HDFC Securities957,085Open AccountHDFC
65paisa870,405Open Account 5paisa
7Groww780,570Open AccountGroww
8Kotak Securities743,206Open AccountKotak
9Sharekhan679,333Open AccountSharekhan
10Motilal Oswal564,034Open AccountMotilal
11AxisDirect454,882Open AccountAxisDirect
12SBI Securities329,099Open AccountSBI
13IIFL Securities291,730Open Account IIFL
14Geojit201,206Open AccountGeojit
15Edelweiss157,254Open Account Edelweiss
16SMC Global135,863Open AccountSMC
17Religare132,939Open AccountReligare
18Alice Blue125,223Open Account Alice
19Nirmal Bang123,213Open AccountNirmal
20Reliance Securities117,307Open AccountReliance

Share brokers are authorized members of the stock exchanges (i.e. BSE, NSE). They execute trades on behalf of the customers at the exchange. There are 100s of registered stock brokers in India offering stock trading to retail customers. At high-level, the most famous stock brokers in India are categories in 2 types:

  1. Full-services brokers
  2. Discount Stock Brokers

Full-service brokers offer a wide range of services including stock trading, research and advisory and local support. Discount stock brokers are online brokers specialized only in stock and commodity trading services. They do not offer add-ons like research and advisory, PMS, wealth management and branch support.

The most popular stock brokers in the full-service category include ICICI Direct, Sharekhan, HDFC Securities, Sharekhan, Angel Broking and Axis Bank. The most famous stock brokers in discount broker category include Zerodha, 5paisa and upstox.


  • The data for this report is compiled from BSE and NSE stock exchanges.
  • The best broker ranking is updated every month.
  • Click on the broker name to read broker review.


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