Who are the largest brokerage firms in India?

Yes, that’s right. They have introduced many great features, but they need to work on fixing bugs and making the experience seamless.

Surprised to see the progress made by PhonePe backed share.market. how they are making this cut, is the PhonePe user base tapped in?

What Angel One has done with their web platform and mobile app, I believe they will in 2nd spot by the end of this year and on the 1st spot by the end of 2025. I hope Zerodha update kite soon.

The difference btw Angel and Z is 7 lac; with current run rate of 80k surplus users added per month compared to Z, it will take then 8-10 months

I have used Angel one for a long time(Using it just for very Long term holdings) It has one of the worst UX I have ever seen. Look, we use brokers terminal for order execution. Not for analytics( If someone is serious and want so proper advance level info). Yes , sometimes some basic info are required like Events. That is very useful.

For Angelone mobile application : It seems they have dumped whatever came in their mind.They are targeting the options trader/MTF traders. Ofcourse, for derivatives they have made many things easy to use as compared to Zerodha. But if you are simply a cash market trader or Futures traders , a simple UI is better for improved UX.

For web : Both Mobile and Web apps are independent terminal will no proper synchronisation of data(Charts as well as other features).

Bugs in Mobile app: Dont want to discuss.

But yes , From my experience, their customer support is better and respond well.( Based on my past tickets raised, 15+)

These are just my own experience and views. Brain muscle memory matters always for UI UX( similar to what is happening in Order terminal for few in Kite)

I quality matters than quantity ( Profits over Customer acquisition)

They ask your Contacts, SMS data etc as permission in Android app for pushing users with Loan later. The day I had transferred money to wallet, I started receiving calls from INDORE😉.
This is something Angelone should not do. Atleast Zerodha has spam free business models.

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I get where you’re coming from, and everyone’s experience can vary based on their trading style and preferences. But I’d like to share a different perspective, especially from an options and intraday trader’s standpoint.

Angel One has actually made significant improvements over time, particularly for active traders. The web portal integrates beautifully with key features like options chains, basket orders, option strategies, and trailing SL – all of which work seamlessly together. They’ve also incorporated the ability to trade directly from charts, and switching between different segments or assets on the same page feels smooth and efficient, much like TradingView.

Their desktop terminal is solid as well, offering an alternative for those who prefer a more feature-rich experience. If you’re a heavy derivatives trader, Angel One’s platform provides a lot of the advanced features we look for in real-time execution.

I get that the mobile app might feel cluttered for some, but for active traders (especially in the derivatives segment), the integration of options data and trade execution is a big plus. It’s designed to cater more to the high-frequency and options trading crowd, which may not suit everyone, especially long-term cash traders. But for those of us using it for advanced trades, the features can be quite valuable.

Regarding data permissions and spam, I agree that’s something they should work on. But purely from a trading functionality perspective, Angel One has done a lot to cater to a more feature-focused audience.

Just my two cents as an options and intraday trader who finds their platform well-suited for my needs.

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Wonder how much of this new customer addition is attributable to strong marketing.

I’m asking this because, i was using the incognito mode and was searching for ''Zerodha" but I found a list of sponsered sites which appeared first before actually displaying the search result.

I also believe there is something off with this Stoxkart site, which features in this sponsor list, they seem to be using a wrong spelling as Zerodhaa, probably a scam site who knows…

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@VenuMadhav clear case of trademark violation by Stoxkart. Intentionally misleading too

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thank you so much for your patronage :heart:. WIll report this to the legal team

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Their UI|UX sucks (they can’t even fix a simple fonts or some minor cosmetic changes) and you will find bugs in most of the features and their customer support sucks!!! Most the features are half baked. Not properly designed or doesn’t have good thought process. I in turn found many bugs on their things, but their CEO or the founders doesn’t seem to care. They just want to build some half baked features and show that they have some new features.

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Angel One has a very poor and clumpsy UI|UX. Moreover, they just change pages and delete the old content, without even notifying the customers. That’s one of the very bad practice. Their platform is highly unstable during peak times.

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This list is incomplete,as it tracks Brokers against whom Complaint is lodged…There are Brokers with ZERO Complaints against them.

Not sure if it is because of scale. Havent seen any issues popping up social media against Dhan.

@karanece We’ll all have our likes and dislikes and that’s okay. I personally find Zerodha, Dhan and ICICIdirect, sufficient and therefore don’t need consider anything else. :slight_smile:

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AngelOne has worst customer service as well. They never accept that they had any issues while placing or closing orders. Their agents replies after 2 days and just say system is working fine… where as the issue was 2 days earlier… i haven’t heard such arrogent replies thinking customers as dumb… their twitter team also goes away when there is a system issue.

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@Piyush_S Very very true and totally agree. I had several such experiences and hence I closed my account with them. I just gave them few chances to correct it or fix it, but they seem to repeat it every time and also few times NSE came in to support them and assured on their behalf, which is very pathetic.

Totally. You might not have experienced, what I had. I faced several hassles because of their STUPID and HALF BAKED features and also because of their ARROGANT and WORST customer support!!! Your decisions might change in future!!! :slight_smile:

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@karanece - Yea I also faced it recently when I raised in Scores and NSE came to support them and just wasted my time. I am also looking to move to another broker now… this is really pathetic and mental harassment to deal with these guys(AngelOne) for any issues.

If you don’t mind sharing where are you trading currently and how is your experience ?

Angel One is an unethical broker. Many of my known persons have complained about them. Better to avoid such brokers who are in top position just because of excessive marketing and nothing else.

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NSE Data for September 2024 (Archived) -

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 Groww Invest Tech Private Limited 12250303 +367434 :large_blue_circle:
2 ZERODHA BROKING LIMITED 7973404 +89039 :large_blue_circle:
3 ANGEL ONE LIMITED 7352789 +219928 :large_blue_circle:
4 UPSTOX SECURITIES PRIVATE LIMITED 2813617 +42068 :large_blue_circle:
5 ICICI SECURITIES LIMITED 1920404 +14763 :large_blue_circle:
6 KOTAK SECURITIES LTD. 1423029 +40993 :large_blue_circle:
7 HDFC SECURITIES LTD. 1293597 +48874 :large_blue_circle:
8 SBICAP SECURITIES LIMITED 990170 +24071 :large_blue_circle:
9 MOTILAL OSWAL FINANCIAL SERVICES LIMITED 983159 +25134 :large_blue_circle:
10 MONEYLICIOUS SECURITIES PRIVATE LIMITED (DHAN) 798463 +58653 :large_blue_circle:
11 PAYTM MONEY LTD. 725056 -10769 :large_blue_circle:
12 SHAREKHAN LTD. 698431 +7665 :large_blue_circle:
13 INDMONEY PRIVATE LIMITED 621140 +62420 :large_blue_circle:
14 MIRAE ASSET CAPITAL MARKETS ( INDIA ) PRIVATE LIMITED 553764 +32951 :green_circle:
15 5PAISA CAPITAL LIMITED 520695 -6078 :red_circle:
16 IIFL SECURITIES LIMITED 457361 +2750 :large_blue_circle:
17 AXIS SECURITIES LIMITED 412889 +8004 :large_blue_circle:
18 GEOJIT FINANCIAL SERVICES LIMITED 253398 +1054 :large_blue_circle:
19 PHONEPE WEALTH BROKING PRIVATE LIMITED 245411 +30642 :green_circle:
20 FYERS SECURITIES PRIVATE LIMITED 240873 +384 :red_circle:
21 CHOICE EQUITY BROKING PRIVATE LIMITED 223693 +1413 :red_circle:
22 SMC GLOBAL SECURITIES LTD. 190103 +1144 :large_blue_circle:
23 NUVAMA WEALTH AND INVESTMENT LIMITED. 175665 +139 :large_blue_circle:
24 ALICE BLUE FIN SVCS P LTD 157152 -4016 :large_blue_circle:
25 FINVASIA SECURITIES PRIVATE LIMITED 155829 +5466 :large_blue_circle:
26 NIRMAL BANG SECURITIES PVT. LTD. 152070 +1948 :large_blue_circle:
27 RELIGARE BROKING LIMITED 150189 +1353 :large_blue_circle:
28 ANAND RATHI SHARE AND STOCK BROKERS LIMITED 142515 +3176 :large_blue_circle:
30 MARWADI SHARES AND FINANCE LIMITED 140244 +3446 :red_circle:
31 VENTURA SECURITIES LTD. 120444 :yellow_circle:
32 JAINAM BROKING LIMITED 116450 +3446 :red_circle:
33 JM FINANCIAL SERVICES LIMITED 116375 :yellow_circle:
34 SAMCO SECURITIES LIMITED 96809 -91 :red_circle:
35 ADITYA BIRLA MONEY LIMITED 94083 +2143 :red_circle:
36 NJ INDIA INVEST PRIVATE LIMITED 88470 +2284 :red_circle:
37 TRADEBULLS SECURITIES (P) LTD. 83339 +1613 :red_circle:
38 SWASTIKA INVESTMART LIMITED 80376 -147 :red_circle:
39 STOCKHOLDING SERVICES LIMITED 77193 +902 :red_circle:
40 YES SECURITIES (INDIA) LIMITED 74032 -80 :red_circle:
41 RELIANCE SECURITIES LIMITED 70984 -83 :red_circle:
42 GLOBE CAPITAL MARKET LIMITED 70002 +1231 :red_circle:
43 MASTER CAPITAL SERVICES LIMITED 65657 +1159 :red_circle:
44 MONARCH NETWORTH CAPITAL LIMITED 60451 +832 :red_circle:
45 BONANZA PORTFOLIO LTD. 59667 +1008 :red_circle:
46 ARIHANT CAPITAL MARKETS LIMITED 57596 +1159 :red_circle:
47 IDBI CAPITAL MARKETS & SECURITIES LTD. 56923 +17 :red_circle:
48 INTEGRATED ENTERPRISES (INDIA) PRIVATE LIMITED 51669 :yellow_circle:
49 PRABHUDAS LILLADHER PVT. LTD. 49260 +452 :red_circle:
50 BAJAJ FINANCIAL SECURITIES LTD. 39435 +2340 :red_circle:
51 PROFITMART SECURITIES PRIVATE LIMITED 39224 -355 :red_circle:
52 SHRI PARASRAM HOLDINGS PVT. LTD. 36813 +321 :red_circle:
53 DHANI STOCKS LIMITED 36052 +687 :red_circle:
54 GOODWILL WEALTH MANAGEMENT PVT LTD 33679 -113 :red_circle:
55 LKP SECURITIES LTD. 33207 +51 :red_circle:
56 FORTUNE CAPITAL SERVICES PRIVATE LIMITED 32035 +273 :red_circle:
57 SHRIRAM INSIGHT SHARE BROKERS LIMITED 29777 +228 :large_blue_circle:
58 VNS FINANCE & CAPITAL SERVICES LTD. 27052 :yellow_circle:
59 WAY2WEALTH BROKERS PRIVATE LIMITED 25204 :yellow_circle:
60 FINWIZARD TECHNOLOGY PRIVATE LIMITED 21230 :yellow_circle:
61 ASHIKA STOCK BROKING LTD. 20374 :yellow_circle:
62 PRUDENT BROKING SERVICES PRIVATE LIMITED 20374 :yellow_circle:
63 ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD. 20361 +309 :red_circle:
64 SKSE SECURITIES LTD. 19866 :yellow_circle:
65 ALANKIT IMAGINATIONS LIMITED 17863 +96 :red_circle:
66 ARHAM SHARE PRIVATE LIMITED 17626 :yellow_circle:
67 BOB CAPITAL MARKETS LIMITED 17023 :yellow_circle:
68 PHILLIPCAPITAL (INDIA) PVT. LTD 16771 :yellow_circle:
69 ACUMEN CAPITAL MARKET (INDIA) LTD 16473 +38 :red_circle:
70 RUDRA SHARES & STOCK BROKERS LIMITED 14154 +205 :red_circle:
71 MONEYWISE FINVEST LIMITED 14141 :yellow_circle:
72 ZEBU SHARE AND WEALTH MANAGEMENTS PRIVATE LIMITED 13654 -141 :red_circle:
73 TRUSTLINE SECURITIES LIMITED 13548 :yellow_circle:
74 JKB FINANCIAL SERVICES LIMITED 11956 :yellow_circle:
75 STANDARD CHARTERED SECURITIES (INDIA) LIMITED 10342 :yellow_circle:
76 VSE STOCK SERVICES LIMITED 8639 +305 :red_circle:
77 R K GLOBAL SHARES & SECURITIES LIMITED 8259 -25 :red_circle:
78 SUNLIGHT BROKING LLP 6961 :yellow_circle:
79 MANDOT SECURITIES PRIVATE LIMITED 6505 -59 :red_circle:
80 RAGHUNANDAN CAPITAL PRIVATE LIMITED 6253 -71 :red_circle:
81 SMIFS LIMITED 5967 +42 :red_circle:
82 MARKET PULSE SECURITIES PRIVATE LIMITED 5849 :yellow_circle:
83 RIKHAV SECURITIES LIMITED 5845 :yellow_circle:
84 SKY COMMODITIES INDIA PVT LTD 5563 :yellow_circle:
85 IFCI FINANCIAL SERVICES LIMITED 5530 :yellow_circle:
86 GANGANAGAR COMMODITY LIMITED 5497 :yellow_circle:
87 KALPATARU MULTIPLIER LTD. 5016 :yellow_circle:
88 ATS SHARE BROKERS PRIVATE LIMITED 4079 -36 :red_circle:
89 DB (INTERNATIONAL) STOCK BROKERS LTD. 3751 +90 :red_circle:
90 MOTISONS SHARES PRIVATE LIMITED 2187 :yellow_circle:
91 DEALMONEY COMMODITIES PVT. LTD. 1893 :yellow_circle:
92 CIL SECURITIES LTD. 1774 +16 :red_circle:
93 ABHIPRA CAPITAL LTD. 1625 :yellow_circle:
94 UNLOCK WEALTH SECURITIES LIMITED 1368 :yellow_circle:

* Updated after exchange fixed the issue with the earlier version of the report

5 Likes