Who are the largest brokerage firms in India?

Data for April 2021 (XLS - Archived Version) -

Symbol Meaning| :large_blue_circle: - No change| :green_circle: - Moved up| :red_circle: - Moved down| :yellow_circle: - Newly added|

S.No. Trading Member Name (aka Name of Stock Broker) Active Clients Since last month Change
1 ZERODHA BROKING LIMITED 3796628 +194554 :large_blue_circle:
2 RKSV SECURITIES INDIA PRIVATE LIMITED (UPSTOX) 2369796 +228701 :large_blue_circle:
3 ANGEL BROKING LIMITED 1660058 +95391 :green_circle:
4 ICICI SECURITIES LIMITED 1656663 +76430 :red_circle:
5 HDFC SECURITIES LTD. 963691 +6606 :large_blue_circle:
6 NEXTBILLION TECHNOLOGY PRIVATE LIMITED (GROWW) 922024 +141454 :green_circle:
7 5PAISA CAPITAL LIMITED 897128 +26723 :red_circle:
8 KOTAK SECURITIES LTD. 750711 +7505 :large_blue_circle:
9 SHAREKHAN LTD. 703227 +23894 :large_blue_circle:
10 MOTILAL OSWAL FINANCIAL SERVICES LIMITED 591584 +27550 :large_blue_circle:
11 AXIS SECURITIES LIMITED 462897 +8015 :large_blue_circle:
12 SBICAP SECURITIES LIMITED 332822 +3723 :large_blue_circle:
13 IIFL SECURITIES LIMITED 299018 +7288 :large_blue_circle:
14 GEOJIT FINANCIAL SERVICES LIMITED 206213 +5007 :large_blue_circle:
15 EDELWEISS BROKING LIMITED 159320 +2066 :large_blue_circle:
16 SMC GLOBAL SECURITIES LTD. 138362 +2499 :large_blue_circle:
17 RELIGARE BROKING LIMITED 134691 +1752 :large_blue_circle:
18 ALICE BLUE FIN SVCS P LTD 130312 +5089 :large_blue_circle:
19 NIRMAL BANG SECURITIES PVT. LTD. 124754 +1541 :large_blue_circle:
20 RELIANCE SECURITIES LIMITED 116929 -378 :large_blue_circle:
21 PAYTM MONEY LTD. 101254 +15427 :green_circle:
22 VENTURA SECURITIES LTD. 97536 +1105 :large_blue_circle:
23 ANAND RATHI SHARE AND STOCK BROKERS LIMITED 87260 +1691 :green_circle:
24 SAMCO SECURITIES LIMITED 77792 +619 :green_circle:
25 JAINAM SHARE CONSULTANTS PRIVATE LIMITED 71346 +1155 :green_circle:
26 ASTHA CREDIT & SECURITIES Β§ LTD 71093 +1203 :green_circle:
27 CHOICE EQUITY BROKING PRIVATE LIMITED 69656 +1852 :green_circle:
28 TRADEBULLS SECURITIES Β§ LTD. 66743 +1283 :green_circle:
29 ADITYA BIRLA MONEY LIMITED 56705 +1143 :green_circle:
30 SWASTIKA INVESTMART LIMITED 55256 +1187 :green_circle:
31 PROFITMART SECURITIES PRIVATE LIMITED 52459 +2669 :green_circle:
32 IDBI CAPITAL MARKETS & SECURITIES LTD. 50455 -55 :green_circle:
33 MASTER CAPITAL SERVICES LIMITED 49296 +651 :green_circle:
34 SHCIL SERVICES LIMITED 46742 +1171 :green_circle:
35 BONANZA PORTFOLIO LTD. 44873 +586 :green_circle:
36 INTEGRATED ENTERPRISES (INDIA) PRIVATE LIMITED 40115 +634 :green_circle:
37 DHANI STOCKS LIMITED 39650 +6 :green_circle:
38 GOODWILL WEALTH MANAGEMENT PVT LTD 38369 +529 :green_circle:
39 FYERS SECURITIES PRIVATE LIMITED 38183 +2220 :green_circle:
40 GLOBE CAPITAL MARKET LIMITED 37909 +996 :green_circle:
41 SHRI PARASRAM HOLDINGS PVT. LTD. 30920 +357 :green_circle:
42 LKP SECURITIES LTD. 30423 +835 :green_circle:
43 WAY2WEALTH BROKERS PRIVATE LIMITED 28297 +282 :green_circle:
44 SHRIRAM INSIGHT SHARE BROKERS LIMITED 27452 +317 :green_circle:
45 ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD. 24179 +235 :green_circle:
46 NAVIA MARKETS LTD. 19670 -2587 :green_circle:
47 PRUDENT BROKING SERVICES PRIVATE LIMITED 19636 +221 :green_circle:
48 YES SECURITIES (INDIA) LIMITED 18855 +607 :green_circle:
49 SOUTH ASIAN STOCKS LTD. 18173 +295 :green_circle:
50 ZEBU SHARE AND WEALTH MANAGEMENTS PRIVATE LIMITED 17187 +571 :green_circle:
51 CANARA BANK SECURITIES LIMITED 15033 +171 :green_circle:
52 FINVASIA SECURITIES PRIVATE LIMITED 12656 +638 :green_circle:
53 ARCADIA SHARE & STOCK BROKERS PRIVATE LIMITED 11120 -257 :green_circle:
54 BOB CAPITAL MARKETS LIMITED 8637 β€” :yellow_circle:
55 INDBANK MERCHANT BANKING SERVICES LTD. 8157 β€” :yellow_circle:

** Note - Limiting the list to top 55 broker names as the XLS file (linked to the archived version of this file that I accessed above) only contains around 100 broker names with active client base dropping drastically after the top 60 brokers. Also excluded Anugrah as that has been expelled. Also, the Change column (which has color codes for detecting change in ranking), isn’t reliable after the Top 22 brokers as lots of brokers are missing when comparing to the last month’s list (likely due to no new complaints being filed against them)

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