Who are the largest brokerage firms in India?

General
90

Here is the updated list for this month.

One interesting observation is that HDFC is steadily losing active clients from 672044 (Mar 2019) -> 664256 (April 2019) --> 658668 (May 2019) --> 650114 (June 2019) .

ICICI on the other hand is steadily growing.

1 ZERODHA BROKING LIMITED 979241
2 ICICI SECURITIES LIMITED 878884
3 HDFC SECURITIES LTD. 650114
4 SHAREKHAN LTD. 504796
5 KOTAK SECURITIES LTD. 443461
6 ANGEL BROKING LIMITED 426716
7 AXIS SECURITIES LIMITED 389512
8 MOTILAL OSWAL FINANCIAL SERVICES LIMITED 326011
9 KARVY STOCK BROKING LTD. 265798
10 SBICAP SECURITIES LIMITED 210892
11 IIFL SECURITIES LIMITED 203702
12 RKSV SECURITIES INDIA PRIVATE LIMITED 186456
13 GEOJIT FINANCIAL SERVICES LIMITED 160984
14 RELIGARE BROKING LIMITED 154370
15 5PAISA CAPITAL LIMITED 147499
16 EDELWEISS BROKING LIMITED 122784
17 RELIANCE SECURITIES LIMITED 119904
18 SMC GLOBAL SECURITIES LTD. 106354
19 NIRMAL BANG SECURITIES PVT. LTD. 92975
20 MARWADI SHARES AND FINANCE LIMITED 82113
21 ANAND RATHI SHARE AND STOCK BROKERS LIMITED 75204
22 VENTURA SECURITIES LTD. 74353
23 TRADEBULLS SECURITIES § LTD. 67686
24 INDIABULLS VENTURES LTD. 44170
25 MONARCH NETWORTH CAPITAL LIMITED 44133
ADITYA BIRLA MONEY LIMITED 43739
IDBI CAPITAL MARKETS & SECURITIES LTD. 43504
SAMCO SECURITIES LIMITED 41354
MASTER CAPITAL SERVICES LIMITED 39002
JM FINANCIAL SERVICES LIMITED 38299
JHAVERI SECURITIES LIMITED 34674
BONANZA PORTFOLIO LTD. 34658
SUSHIL FINANCIAL SERVICES PRIVATE LIMITED 33948
ARIHANT CAPITAL MARKETS LIMITED 30828
SHRI PARASRAM HOLDINGS PVT. LTD. 28939
LKP SECURITIES LTD. 27551
SWASTIKA INVESTMART LIMITED 26976
SHRIRAM INSIGHT SHARE BROKERS LIMITED 26300
CHOICE EQUITY BROKING PRIVATE LIMITED 26278
GLOBE CAPITAL MARKET LIMITED 26183
WAY2WEALTH BROKERS PRIVATE LIMITED 25654
VNS FINANCE & CAPITAL SERVICES LTD. 22085
BMA WEALTH CREATORS LIMITED 22051
PRABHUDAS LILLADHER PVT. LTD. 20723
KIFS TRADE CAPITAL PRIVATE LIMITED 20610
PRUDENT BROKING SERVICES PRIVATE LIMITED 17490
ARCADIA SHARE & STOCK BROKERS PRIVATE LIMITED 14173
INDIANIVESH SECURITIES LTD. 14148
PROFITMART SECURITIES PRIVATE LIMITED 13956
NARNOLIA FINANCIAL ADVISORS LIMITED 13671
PHILLIPCAPITAL (INDIA) PVT. LTD 12590
SOUTH ASIAN STOCKS LTD. 12402
ISE SECURITIES & SERVICES LIMITED 12396
SS CORPORATE SECURITIES LIMITED 11847
YES SECURITIES (INDIA) LIMITED 11592
BANSAL FINSTOCK PRIVATE LIMITED 11516
DEALMONEY SECURITIES PRIVATE LIMITED 11482
FAIRWEALTH SECURITIES LIMITED 11021
GOODWILL WEALTH MANAGEMENT PVT LTD 10932
TRUSTLINE SECURITIES LIMITED 10860
ALICE BLUE FIN SVCS P LTD 10531
ASTHA CREDIT & SECURITIES § LTD 9995
ADROIT FINANCIAL SERVICES PRIVATE LIMITED 9424
NAVIA MARKETS LTD. 9248
R K GLOBAL SHARES & SECURITIES LIMITED 8290
LSC Securities Limited 8054
VRISE SECURITIES PRIVATE LIMITED 7766
JK SECURITIES PVT. LTD. 7606
MANSUKH SECURITIES & FINANCE LIMITED 7231
FYERS SECURITIES 7099
ZEBU SHARE AND WEALTH MANAGEMENTS PRIVATE LIMITED 6798
INDIRA SECURITIES PRIVATE LIMITED 6444
STANDARD CHARTERED SECURITIES (INDIA) LIMITED 6012
ITI SECURITIES BROKING LIMITED 5854
IFCI FINANCIAL SERVICES LIMITED 5848
PATEL WEALTH ADVISORS PVT LTD 5675
ASHLAR SECURITIES PRIVATE LIMITED 5632
SHAREWEALTH SECURITIES LIMITED 5446
HEDGE EQUITIES LIMITED 5278
GUINESS SECURITIES LIMITED 5056
PACE STOCK BROKING SERVICES PRIVATE LIMITED 4846
SAJAG SECURITIES PVT. LTD. 4824
MUTHOOT SECURITIES LTD. 4142
MEHTA EQUITIES LIMITED 3785
BASAN EQUITY BROKING LIMITED 3661
MARKET-HUB STOCK BROKING PRIVATE LIMITED 3338
QUANTUM GLOBAL SECURITIES LIMITED 3290
VIKSON SECURITIES PRIVATE LIMITED 3156
SHARE INDIA SECURITIES LIMITED 2645
COMPETENT FINMAN PVT. LTD. 2093
MULTIPLEX CAPITAL LTD. 2055
C.D. EQUISEARCH PVT. LTD 1786
ESCORTS SECURITIES LTD. 1711
NG RATHI INVESTRADES PRIVATED LIMITED 1709
ARTHA VRDDHI SECURITIES LIMITED 1576
FARSIGHT SECURITIES LTD. 1416
WEALTHSTREET ADVISORS P LTD 1254
GROVALUE SECURITIES PVT LTD 1175
LFS BROKING PRIVATE LIMITED 1069
SKUNG TRADELINK LIMITED 969
MAX STOCK BROKING PRIVATE LIMITED 938
KHANDWALA SECURITIES LTD. 875
NARAYAN SECURITIES LIMITED 825
BEZEL STOCK BROKERS PRIVATE LIMITED 678
INTERACTIVE BROKERS (INDIA) PRIVATE LIMITED 632
VERACITY FINANCIAL SERVICES PVT LTD 570
INDIAN FINANCE GUARANTY LTD. 516
QUANTUM SECURITIES PVT. LTD. 508
KSBL SECURITIES LIMITED 500
WELLINDIA SECURITIES LIMITED 477
CREDENTIAL STOCK BROKERS LIMITED 472
DHWAJA SHARES & SECURITIES PRIVATE LIMITED 458
PANTOMATH STOCK BROKERS PRIVATE LIMITED 287
ALTINA SECURITIES PVT. LTD 237
ALLIED FINANCIAL SERVICES PVT LTD 214
CAPITAL WIZARD STOCK BROKING PVT. LTD. 190
ASTITVA CAPITAL MARKET PRIVATE LIMITED 161
4A SECURITIES LIMITED 121
RRB MASTER SECURITIES DELHI LTD. 118
RAGHUKUL SHARES INDIA PRIVATE LIMITED 99
BURGEON SECURITIES 83
YUVRAJ SECURITIES 77
KRISHA INCAP SERVICES PVT.LTD. 76
AMGIS HOLDINGS PVT LTD 21
ZERODHA SECURITIES PRIVATE LIMITED 12

Source: https://www.nseindia.com/invest/content/arbitration_reports/report_1c_2019_20.htm

91

Just in 2 years; UCC went to 77 lakhs from 64 lakhs in July 2017 [data shared by Nitin] .

Latest data of June: https://www.nseindia.com/invest/content/arbitration_reports/report_1c_2019_20.htm

92

Can you give the updated list ?

93

Can you give the updated list ?

94

From Sep 2018 to Aug 2019, Zerodha added 1.82L and upstox added 1.73L active clients as per nse data.

The numbers are almost same inspite of Zerodha’s great features on kite, TV integration, order execution speed(far better than upstox) and other upgrades.

Personally I don’t like UI interface of upstox and it gets lots of technical issue (but it doesn’t get highlighted like zerodha). they have intelligently collaborated with YouTube traders who get commission when their referrals trades in upstox account.
These youtubers literally oppose zerodha in their videos, spread some conspiracy theories against zerodha (technical issues, counter trading etc) and ask them not to open account in zerodha or shift to upstox - just because zerodha doesn’t offers any brokerage commission to them.
Upstox and some others (fyres, Alice blue) surely has taken advantage of this.

@nithin your team should at least think about conspiracy theories spreading over YouTube and other social media.

1 Like
95

help me sir

96

Hmm… they are adding a free Rs 50 share if you open an account, account which is free. So yeah, automatically gets active. I don’t know how many of these actually trade. I don’t know active on this list is really the right metric to look at. But since everyone seems to be now tracking this list, it has become a vanity metric.

There is no way to stop conspiracy theories, we are working on putting as many new products and features that can help our clients. Hopefully the growth continues to be organic.

4 Likes
97

Aug 2019

1 ZERODHA BROKING LIMITED 1025620
2 ICICI SECURITIES LIMITED 897678
3 HDFC SECURITIES LTD. 635825
4 SHAREKHAN LTD. 486666
5 KOTAK SECURITIES LTD. 456143
6 ANGEL BROKING LIMITED 429267
7 AXIS SECURITIES LIMITED 358032
8 MOTILAL OSWAL FINANCIAL SERVICES LIMITED 324239
9 KARVY STOCK BROKING LTD. 266557
10 RKSV SECURITIES INDIA PRIVATE LIMITED 238084
11 5PAISA CAPITAL LIMITED 212234
12 SBICAP SECURITIES LIMITED 211865
13 IIFL SECURITIES LIMITED 202782
14 GEOJIT FINANCIAL SERVICES LIMITED 158790
15 RELIGARE BROKING LIMITED 147290
16 EDELWEISS BROKING LIMITED 117821
17 RELIANCE SECURITIES LIMITED 116079
18 SMC GLOBAL SECURITIES LTD. 103951
19 NIRMAL BANG SECURITIES PVT. LTD. 88996
20 ANAND RATHI SHARE AND STOCK BROKERS LIMITED 73659
21 VENTURA SECURITIES LTD. 71516
22 MARWADI SHARES AND FINANCE LIMITED 70951
23 TRADEBULLS SECURITIES (P) LTD. 62243
24 IDBI CAPITAL MARKETS & SECURITIES LTD. 44957
25 MONARCH NETWORTH CAPITAL LIMITED 43594
26 INDIABULLS VENTURES LTD. 43224
27 SAMCO SECURITIES LIMITED 42800
28 ADITYA BIRLA MONEY LIMITED 42701
29 JM FINANCIAL SERVICES LIMITED 36994
30 INTEGRATED ENTERPRISES (INDIA) PRIVATE LIMITED 36967
31 MASTER CAPITAL SERVICES LIMITED 36313
32 BONANZA PORTFOLIO LTD. 32597
33 JHAVERI SECURITIES LIMITED 31612
34 SUSHIL FINANCIAL SERVICES PRIVATE LIMITED 31093
35 ARIHANT CAPITAL MARKETS LIMITED 29638
36 SWASTIKA INVESTMART LIMITED 27550
37 CHOICE EQUITY BROKING PRIVATE LIMITED 27134
38 LKP SECURITIES LTD. 26242
39 GLOBE CAPITAL MARKET LIMITED 26232
40 SHRIRAM INSIGHT SHARE BROKERS LIMITED 25604
41 SHRI PARASRAM HOLDINGS PVT. LTD. 25065
42 WAY2WEALTH BROKERS PRIVATE LIMITED 24858
43 VNS FINANCE & CAPITAL SERVICES LTD. 22042
44 BMA WEALTH CREATORS LIMITED 21243
45 PRABHUDAS LILLADHER PVT. LTD. 20817
46 KIFS TRADE CAPITAL PRIVATE LIMITED 18231
47 PRUDENT BROKING SERVICES PRIVATE LIMITED 16089
48 PROFITMART SECURITIES PRIVATE LIMITED 14815
49 ALICE BLUE FIN SVCS P LTD 14336
50 INDIANIVESH SECURITIES LTD. 14078
51 NARNOLIA FINANCIAL ADVISORS LIMITED 14000
52 GOODWILL WEALTH MANAGEMENT PVT LTD 12934
53 ARCADIA SHARE & STOCK BROKERS PRIVATE LIMITED 12883
54 SOUTH ASIAN STOCKS LTD. 12307
55 GOLDMINE STOCKS PRIVATE LIMITED 12289
56 PHILLIPCAPITAL (INDIA) PVT. LTD 12263
57 YES SECURITIES (INDIA) LIMITED 11871
58 ISE SECURITIES & SERVICES LIMITED 11865
59 ASTHA CREDIT & SECURITIES (P) LTD 11292
60 DEALMONEY SECURITIES PRIVATE LIMITED 11238
61 TRUSTLINE SECURITIES LIMITED 11067
62 SS CORPORATE SECURITIES LIMITED 10973
63 ACUMEN CAPITAL MARKET (INDIA) LTD 10782
64 BANSAL FINSTOCK PRIVATE LIMITED 10072
65 PCS SECURITIES LTD. 9818
66 NAVIA MARKETS LTD. 9375
67 FAIRWEALTH SECURITIES LIMITED 9170
68 ADROIT FINANCIAL SERVICES PRIVATE LIMITED 8697
69 DBFS SECURITIES LIMITED 8431
70 FYERS SECURITIES 8355
71 R K GLOBAL SHARES & SECURITIES LIMITED 7965
72 LSC Securities Limited 7750
73 KUNVARJI FINSTOCK PVT. LTD. 7458
74 JK SECURITIES PVT. LTD. 7393
75 ZEBU SHARE AND WEALTH MANAGEMENTS PRIVATE LIMITED 7328
76 VRISE SECURITIES PRIVATE LIMITED 7182
77 HEM FINLEASE PVT. LTD. 6984
78 MANSUKH SECURITIES & FINANCE LIMITED 6860
79 INDIRA SECURITIES PRIVATE LIMITED 6177
80 SHAREWEALTH SECURITIES LIMITED 6161
81 ASHLAR SECURITIES PRIVATE LIMITED 6004
82 LAKSHMISHREE INVESTMENT & SECURITIES PVT. LTD. 5893
83 CHOLAMANDALAM SECURITIES LIMITED 5844
84 IFCI FINANCIAL SERVICES LIMITED 5724
85 STANDARD CHARTERED SECURITIES (INDIA) LIMITED 5668
86 COIMBATORE CAPITAL LIMITED 5604
87 HEDGE EQUITIES LIMITED 5399
88 ITI SECURITIES BROKING LIMITED 5382
89 PATEL WEALTH ADVISORS PVT LTD 5319
90 SAJAG SECURITIES PVT. LTD. 4684
91 PACE STOCK BROKING SERVICES PRIVATE LIMITED 4608
92 ELITE WEALTH ADVISORS LIMITED 4383
93 FINVASIA SECURITIES PRIVATE LIMITED 4100
94 MUTHOOT SECURITIES LTD. 4083
95 CONSORTIUM SECURITIES PRIVATE LTD. 3903
96 PEERLESS SECURITIES LIMITED 3753
97 MEHTA EQUITIES LIMITED 3750
98 GUINESS SECURITIES LIMITED 3727
99 STEWART & MACKERTICH WEALTH MANAGEMENT LTD. 3703
100 BOB CAPITAL MARKETS LIMITED 3543
101 TRADESWIFT BROKING PRIVATE LIMITED 3532
102 BASAN EQUITY BROKING LIMITED 3487
103 EXCLUSIVE SECURITIES LTD. 3210
104 QUANTUM GLOBAL SECURITIES LIMITED 3124
105 MARKET-HUB STOCK BROKING PRIVATE LIMITED 3110
106 COCHIN STOCK BROKERS LTD. 3086
107 SATCO CAPITAL MARKETS LIMITED 2973
108 VIKSON SECURITIES PRIVATE LIMITED 2933
109 SHARE INDIA SECURITIES LIMITED 2486
110 INTEGRATED MASTER SECURITIES PVT. LTD. 2276
111 KAYNET FINANCE LIMITED 2236
112 SUMPOORNA PORTFOLIO LIMITED 2219
113 COMPETENT FINMAN PVT. LTD. 2008
114 ABHIPRA CAPITAL LTD. 1936
115 MULTIPLEX CAPITAL LTD. 1856
116 COMFORT SECURITIES LIMITED 1813
117 AASMAA SECURITIES PRIVATE LIMITED 1801
118 C.D. EQUISEARCH PVT. LTD 1688
119 ESCORTS SECURITIES LTD. 1677
120 MOTISONS SHARES PRIVATE LIMITED 1512
121 ARTHA VRDDHI SECURITIES LIMITED 1512
122 WEALTHSTREET ADVISORS P LTD 1403
123 NG RATHI INVESTRADES PRIVATED LIMITED 1382
124 PSB SECURITIES LIMITED 1332
125 FARSIGHT SECURITIES LTD. 1320
126 ARCH FINANCE LTD. 1185
127 WEALTH DISCOVERY SECURITIES PVT. LTD. 1179
128 GROVALUE SECURITIES PVT LTD 1130
129 LFS BROKING PRIVATE LIMITED 1077
130 COMPOSITE SECURITIES LTD. 1049
131 ABIRA SECURITIES LIMITED 1045
132 UNLOCK WEALTH SECURITIES LIMITED 975
133 SKUNG TRADELINK LIMITED 938
134 KEDIA COMMODITY COMTRADE PVT. LTD. 923
135 KHANDWALA SECURITIES LTD. 850
136 MAX STOCK BROKING PRIVATE LIMITED 847
137 INTERACTIVE BROKERS (INDIA) PRIVATE LIMITED 666
138 GREENBUCKS SECURITIES PRIVATE LIMITED 645
139 BEZEL STOCK BROKERS PRIVATE LIMITED 636
140 PURE BROKING PRIVATE LIMITED 601
141 INDIAN FINANCE GUARANTY LTD. 566
142 SMART EQUITY BROKERS PRIVATE LIMITED 543
143 NARAYAN SECURITIES LIMITED 535
144 QUANTUM SECURITIES PVT. LTD. 503
145 MONEYPALM INVESTMENT SOLUTIONS PRIVATE LIMITED 494
146 VERACITY FINANCIAL SERVICES PVT LTD 455
147 KSBL SECURITIES LIMITED 452
148 DHWAJA SHARES & SECURITIES PRIVATE LIMITED 441
149 CREDENTIAL STOCK BROKERS LIMITED 416
150 ACTION FINANCIAL SERVICES (INDIA) LIMITED 404
151 WELLINDIA SECURITIES LIMITED 390
152 LUNIA INVESTMENTS & FINANCE PVT. LTD. 302
153 PANTOMATH STOCK BROKERS PRIVATE LIMITED 269
154 ALTINA SECURITIES PVT. LTD 234
155 ALLIED FINANCIAL SERVICES PVT LTD 188
156 CAPITAL WIZARD STOCK BROKING PVT. LTD. 158
157 ASTITVA CAPITAL MARKET PRIVATE LIMITED 153
158 SODHANI SECURITIES LTD. 147
159 PLUSWEALTH CAPITAL MANAGEMENT LLP 130
160 4A SECURITIES LIMITED 116
161 RRB MASTER SECURITIES DELHI LTD. 115
162 YUVRAJ SECURITIES 79
163 KRISHA INCAP SERVICES PVT.LTD. 76
164 RAGHUKUL SHARES INDIA PRIVATE LIMITED 74
165 BURGEON SECURITIES 74
166 PUG SECURITIES PRIVATE LIMITED 46
167 AMGIS HOLDINGS PVT LTD 17
2 Likes
98

Can you tell approx number of clients in zerodha trading more then one crore in account.
Also do you have any plans to provide extra features to big investors in Zerodha something like customer segmentation which is done in leading banks etc.

99

I am afraid that info can’t be shared out.

Not as of now.

2 Likes
100

I as a Upstox partner can tell you that more than 50% of the clients are active. I became AP of Upstox in March 2019 and till now I have 58 customers on Upstox. Out of them 33 customers have traded till now. With brokerage sharing of 30%. I have made Rs 23320 just in brokerage and the rest in incentive. So per customer I have made Rs 402 (30% sharing). So obviously customer like Upstox as a company and are trading actively. The main reason why customers are opening account with Upstox is that they are not charging account opening fees. The month in which they started with Free Demat Days that is when they started getting 15-20 thousand accounts per month. Also they are giving Rs 100 free stock after you open the account. India is a price sensitive market so I guess customers at times choose Upstox and 5paisa over Zerodha. Zerodha doesn’t believe in marketing which is also the reason why Upstox and 5paisa are getting more customers. Now with $25 M investment of Tiger Global in Upstox will surely make things difficult for Zerodha.

101

Wish money can make great products only then bing could have been greatest search engine, orkut would have been still widely used, touchpad from HP to compete apple’s ipod would be in existence,people would be drinking New coke from cococola, crystal pepsi from Pepsico but all these are vanished in history inspite of having heavy backing, mighty marketing and PR teams. So, it is just perception of few people to believe throwing away money into marketing will sell products. I am not saying other product is inept but just letting you know that money alone is not sufficient to build great things.

With extra money one can give more offers but till when these will long. At some point of time company should start making money, it should have sustainable revenues to provide good products and great experience to it’s clients. Offering free account is certainly not a bad thing to do, may be in future we can do some changes but my point is free offers are not sustainable for longer times or should have other solid sources for income generation to back them.

Anyhow India is a very big country and around 6.8 crore Indians filed Income tax returns last year but we have only around 80 lakh active traders, Our aim is to increase this ecosystem and we welcome anyone doing this and we never consider anyone as our competition.Wish more and new investors you will be adding to this ecosystem. Best wishes.

11 Likes
102

Any plan to introduced monthly subscription plan for active trader , any other brokerage plan is zerodha planning .
Brokerage @20 is famous in 2009, Now Traditional broker are came to flat @15 per trade, monthly 999 unlimited trading … any future plan on brokerage with zerodha in 2019 @siva @Bhuvan @nithin

1 Like
103

Which broker providing 999 unlimited trading , and is he trustable.

104

No plans as such.

1 Like
105

@Nithin clarified it in past in one of the posts that Zerodha has no intention to change their pricing model. And he is right TBH, why change anything that has been working like charm for them. From business POV monthly plans will be loss making idea in long run for brokers.

106

I think Zerodha should start charging Rs 10 per trade (Including Equity Delivery). 5paisa is doing the same. This is a good deal for everyone. @nithin

1 Like
107

This is my personal opinion but wondering why not 30 or 40, few others are charging more right. Also they charge for eq but at zerodha it is free right, mf buying is also free, compare the dp charges, anyhow price comparisons apart one should mainly see quality of products and features available. Only when companies have solid source of income stream they can spend on infra, research and development etc. Can take initiatives to try something new which is not available till now. Zerodha started with 20 rs in 2010 and still charging the same and made eq /mf fully free so as to bring more people into the ecosystem.

7 Likes
108

Many discount brokers don’t charge for equity. So they are at par with Zerodha on brokerage. PayTM Money is free which most of the people use for MF investments.

Less than 1%(In fact less than 0.1%) of the traders are making money in the market consistently. So I thought that charging for equity is the best thing to do. Anyways Zerodha is doing well without any doubt. I have an account in Zerodha.

109

But they are not adding any value for business, burning VC money.Point is one should able to add value to customers at same time should able to do with sustainable business model.

May be that can be another reason not to charge, and push more clients to invest instead trade.

4 Likes