15 Biggest Stockbrokers in India With Highest Active Clients

I always felt that the financial market was not very transparent. The information that I got about the financial market was only from the media. I also felt that the media does not provide all the necessary and important information that is required in the financial market. I began to investigate various blogs about the stocks, the financial market, the stock brokers, the financial news etc. After that I found that there are a lot of people in the world who are interested in the stocks and the financial market.

Biggest Stockbrokers in India has been one of the best financial services in India. They have a double digit return on investment for their clients. The data collected by the Biggest Stock Brokers in India website gives a clear picture about the investment patterns of the customers.

List of Largest Stockbrokers in India (Updated: March 2023) In this article, we look at the top 15 stockbrokers in India based on the total number of unique active clients.

There are more than three hundred stockbrokers registered with the SEBI and various stock exchanges in India. Even the National Stock Exchange (NSE) in India counts 299 stockbrokers (including defaulted and disqualified brokers) on the 28th. February 2021. When looking for the best stockbroker to open your deposit and trading account, one of the simplest factors is the total number of active clients. While a large client base does not guarantee better service, a large company makes it less likely that the brokerage will disappear or be shut down.

Nowadays, all stockbrokers claim to be reliable because they are registered with the SEBI. However, the fact that they are registered with the SEBI does not make them reliable in the long run. Time and time again, many of these smaller brokers have been forced out of business or simply gone bankrupt and filed for bankruptcy. And that causes a lot of problems for their existing customers.

Therefore, a safer option for clients to avoid these disadvantages is to open a trading account with the leading stockbrokers in the industry.

15 biggest stockbrokers in India with most active clients

Various websites rank stockbrokers in India based on various factors such as brand value, trading platforms, customer service, services offered, complaint rate, etc. However, we will not discuss these factors in this article.

Here we will only look at one factor, which is the total number of unique active clients with a particular broker. In this section, the stockbroker with the most clients comes first, followed by the following most active stockbrokers.

For this approach, we will use the data available on the NSE India website. The website of the National Stock Exchange provides information on the total number of clients per month of the different stockbrokers listed there. Here’s a quick link to the site. You can also download the spreadsheet available on this page for a more in-depth analysis of stockbrokers.

Here are the top 15 stockbrokers in India, based on total number of active clients:

S.No.Stockbroker’s nameNumber of active clientsMarket share (%)
1ZERODHA BROKER LIMITED339105918.85%
2RKSV SECURITIES INDIA PRIVATE LIMITED (Upstox)196086110.90%
3ANGEL BROKER LIMITED14541678.08%
4ICICI SECURITIES LIMITED14353567.98%
5HDFC SECURITIES LTD.9440915.25%
65PAISA CAPITAL LIMITED8458794.70%
7KOTAK EFFECTS.7176583.99%
8SHAREHAN LLC.6766313.76%
9NEXTBILLION TECHNOLOGY PRIVATE LIMITED (Groww)6565193.65%
10MOTILAL OSWAL FINANCIAL SERVICES LIMITED5433113.02%
11AS OF SECURITIES LIMITED4392732.44%
12SBICAP SECURITIES LIMITED3223531.79%
13IIFL SECURITIES LIMITED2875031.60%
14GEOJIT FINANCIAL SERVICES LIMITED1970011.10%
15EDELWEISS BROKER LIMITED1571980.87%

It should be noted that the total number of active customers of all stockbrokers in February 2021 is 1,79,87,749 (1.79 Cr), according to the NSE India website.

From the above table, you can quickly see that Zerodha is the largest stockbroker with the largest number of individual clients listed on the National Stock Exchange of India.

On the 28th. In February 2021, Zerodha accounted for approximately 18.85% of the total market share of active clients listed on the National Stock Exchange. The company has over 33.9 million active customers, compared to over 1.79 million active customers for all stockbrokers on the NSE.

What makes this list even more interesting is the fact that Zerodha was only founded in 2010 and has so far managed to outperform all the old and mature traditional brokers. Other discount brokers like RKSV Securities (Upstox), Angel Broking, 5Paisa and Groww (NextBillion Technologies) are also in the top 10 stock brokers in India in terms of the number of active clients.

Also read : Zerodha Review – Discount Broker in India – Brokerage, trading platform and more.

According to the above table, Zerodha is followed by Upstox, which comes in second place with over 19.6 lakh unique customers.

Other top stockbrokers on this list are Angel Broking (14.5 million customers), ICICI Securities (14.35 million customers), HDFC Securities (9.44 million customers), 5Paisa (8.45 million customers), Kotak Securities (7.17 million customers), Sharekhan (6.76 million customers), Groww (6.56 million customers) and Motilal Oswal Group (5.43 million customers). Together, these 15 largest stockbrokers account for more than 70.19% of the total number of individual clients registered with the NSE.

Also read: Compare online brokers in India

Bonus: Top Additional Securities Dealers

Here is the list of top 15 stockbrokers in India with highest number of active clients in Q28. February 2021 are listed on the national stock exchange.

S.No.Stockbroker’s nameNumber of active clientsMarket share (%)
16SMC GLOBAL SECURITIES LTD.1357150.75%
17RELIGAR BROKER LIMITED1298550.72%
18NIRMAL BANG SECURITIES PVT. LTD.1237680.69%
19ALICE BLUE FIN SVCS P LTD1191060.66%
20RELIANCE SECURITIES LIMITED1177990.65%
21MARWADI EQUITIES AND FINANCE LIMITED1090490.61%
22VENTURA SECURITIES LTD.950700.53%
23ANANDA RATHI STOCKS AND SHARES GMBH847950.47%
24SAMCO SES LIMITED764360.42%
25JAINAM EQUITY ADVISORS PRIVATE COMPANY LIMITED743480.41%
26ASTHA CREDIT AND SECURITISATION (P) LTD699930.39%
27PAYTM MONEY LTD.698790.39%
28TRADEBULLS SECURITIES (P) LTD.668660.37%
29CHOICE EQUITY BROKING PRIVATE LIMITED606710.34%
30ADITYA BIRLA MONEY LIMITED550420.31%

So much for that article. I hope this list of top 15 stockbrokers in India with the most active clients has been helpful to you. Also, please indicate below which brokerage firm you use to trade in the Indian stock market and how you rate it. Have fun investing!

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Frequently Asked Questions

Who is the No 1 stock broker in India?

The No 1 stock broker in India currently(2023) is Zerodha.

1 thought on “15 Biggest Stockbrokers in India With Highest Active Clients”

  1. Thank you for the informative post.

    And I just want to know what is the definition used for active clients? Does it mean did one transaction (buy or sell) in a period for example?

    Reply

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