The Indian stock market is growing at a high rate after digitalization and COVID-19. In 2020 there were 30 million unique investors and the score was raised to 100 million by 2024. This increment in investors is raising the stockbrokers and their active clients. However, Groww is the top stock broker. Moreover, other stock brokers are: Zerodha, Upstox, Angel, one ICICI direct. Furthermore, there are 20 top Stock Brokers having 1 lakh active clients. 

What is a Stock Broker?

A Stock Broker is a kind of mediator between the buyer and the seller in the stock market. Brokers buy or sell the shares on behalf of investors. Investors do not have the authority for direct trading in the stock market. Brokers are licensed people or companies that work for the investors. Furthermore, Stock brokers provide various amenities like money management, mutual funds, investment advice, and ETFs. Moreover, these brokers earn commissions on every transaction.

Most Popular Stock Brokers in India in 2025

Here is the list of the top 10 stock brokers in India by Active Client Base:

1) Groww Invest-Tech Private Limited– king of stock brokerage 

The king of the stock market has 1,25,94,877 active clients. Groww Invest-Tech Private Limited acquires a 5.76% market share with a 9.50/10 rating. Furthermore, Groww’s trading and demat opening charge is zero. Moreover, the trading account AMC charges is also zero. The Demat account AMC charge is even Zero. However, Groww Invest-Tech Private Limited’s equity delivery charge is INR 20 per order and a minimum of INR 2. 

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2) Zerodha Broking Limited – one of the best brokerage firms

Zerodha Broking Limited has 80,67,274 active clients with a 16.50% market share. Zerodha’s rating is 9.00/10 and is one of the best brokerage firms. Moreover, the Zerodha broking limited trading and demat account opening charge is zero. The trading account AMC charge is also zero. While Zerodha charges zero ( up to INR 4,00,000), INR 100+ GST(between INR 4,00,000-10,00,000), INR 300 + GST ( Above – INR 10,00,000) Annually for demat account AMC charge. 

3) Angel One Limited – fast-going brokerage firm

This fast-growing brokerage firm has 75,29,017 active clients with 15.40% market shares. Angel One Limited’s Rating is 9.15/10 and has become one of the fast-growing discount brokerage firms.  Furthermore, Angel One Limited’s trading and demat account opening charge is zero. Moreover, Angel One’s trading account AMC charge is also zero. While Angle one charges Zero( up to INR 50,000), INR 100 + GST (between INR 50000 to 2,00,000). 

4) Upstox Securities Private Limited 

This private limited brokerage firm has 28,52,978 active clients with 5.84% market shares. Upstox rating is 8.80/10. Furthermore, Upstox’s trading and demat account opening charge is zero. Moreover, the trading account AMC charge of the firm is also zero. Eventually, Upstox charges INR 75 + GST (quarterly) or INR 150 + GST (annually). 

5) ICICI Securities Limited – the biggest traditional player in the market 

ICICI Securities Limited has 19,34,288 active clients with 3.96 % market shares. While ICICI Direct’s rating is 8.75/10. Furthermore, ICICI Direct’s trading and demat account opening charge is zero. Eventually, the trading account AMC charge is also zero. ICICIdirect charges INR 700 for demat account AMC. 

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6) Kotak Securities Limited

Kotak Securities Limited has 14,62,281 active clients with a 2.99% market share. While Kotak Securities Limited rating is 9.25/10. Furthermore, Kotak securities trading and demat account opening charge is INR 99. Moreover, Kotak’s trading account AMC charges zero. While the brokerage firm’s demat account AMC charge is INR 600 per year. 

7) HDFC Securities Limited 

HDFC Securities Limited has 13,35,188 active clients with 2.73% market share. Moreover, HDFC’s security rating is 8.45/10. Furthermore, the HDFC security demat account opening charge is zero. Eventually, the trading account opening charges and AMC charges are also zero. While the brokerage firm’s demat account AMC charge is INR 750. 

8) Motilal Oswal Financial Services Limited 

Motilal Oswal Financial Services Limited has 10,04,570 active clients and a 2.05% market share. Moreover, Motilal Oswal’s rating is 8.40/10. Furthermore, the brokerage firm’s and demat account opening charge is zero. Moreover, Motilal Oswal’s trading account AMC charge is also zero. Eventually, this brokerage firm charges a fee for the first year and then INR 199 annually. 

9) SBI Securities Limited

SBI Securities Limited has 9,86,160 active clients with a 2.02% market share. Along with that SBI securities rating is 8.45/10. While the trading and demat account opening charge of the firm is INR 850. However, SBI securities trading account AMC charges zero. Moreover, the Demat account AMC charge of SBI security is INR 750 ( first year free). 

10) Moneylicious Securities Private Limited 

This private brokerage firm has 8,49,653 active clients with 1.74% market share. Moneylicious securities(Dhan) rating is 8.45/10. However, Moneylicious trading and demat account opening charges are zero. Eventually, the firm’s trading account AMC charge and demat account AMC charge is free. 

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Conclusion 

These are the Top 10 Stock Brokers in India by Active Clients. Groww Invest-Tech Private Limited is the biggest among them. Eventually, Zerodha and Angel have the biggest number of clients. ICICI Direct is the best stock brokerage firm followed by HDFC Securities, Kotak Securities, and Sharekhan. Upstox is the fastest-growing stock brokerage form in India. Moreover, this stock brokerage firm is the best choice for decent trading platforms, high margins and low brokerage.