With the rise in stocks and the time left for millionaires by the work-from-home regime, many Indians across the country turned to stocks. To this end, they have obviously turned to brokers who provide dematerialization and trading services. Demat accounts are where these securities or shares are held in dematerialized or electronic form and the trading account facilitates the trading of the underlying securities.
Although there can be many parameters based on the ranking of these stock brokers, such as their past performance, user reviews, etc.
Before we get into the details of these stock brokerage entities and their unique offerings, here we briefly tell you the history of stock brokerage in India and the type of stock brokers in the country:
History of brokerage in India:
Brokerage firms allow its clients to trade securities and execute buy and sell orders on their behalf. It is only after obtaining recognition from a stock exchange that they are deemed or officiated as a broker.
In 1602, the Dutch East India Company first presented shares listed on the stock exchange via the Amsterdam Stock Exchange. Then later in the 17th century, the London Stock Exchange was established. Subsequently, in the year 1875, the Bombay Stock Exchange today became the BSE.
Then there are different types of brokers
– Full service or traditional brokers: These brokers offer a full basket of offers and charge comparatively higher fees considering the large set of services like stock brokerage, investment management, etc.
– Discount brokers: These are mainly online entities that provide stock brokerage services with convenience.
– Workers : They are independent brokers who transact on their own behalf and not on behalf of another client. Also, they are not allowed to trade for others, nor can they earn commission. They operate by quoting 2 prices i.e. buy and sell prices and the spread is the profit for them.
– Referees: They take advantage of the price differential on the two exchanges i.e. one at a lower price of one exchange and then sell on the other at a higher rate.
Now coming to the main topic, here are the best brokers in the country in 2021 considering the active client base:
It is a securities brokerage entity headquartered in Bengaluru that pioneered the discount brokerage model in the country. The company started its activities in 2010 and has combined “Zero” and “Rodha”, ie a Sanskrit word meaning a barrier and therefore the objective of providing transparent and hassle-free services to its clients in terms cost, support and technology.
The brokerage company’s offerings include Kite, ie its trading platform; Console, i.e. the dashboard of your Zerodha account; Zerodha Coin-for the purchase of mutual funds; Sentinel to enable market alerts in the cloud.
The company’s active customer base according to the Chittorgarh site is 37 96 628
It is a fastest growing Mumbai based brokerage firm that empowers investors and traders to achieve financial success. Originally started as RKSV Securities in 2010, then offered no brokerage for delivery transactions and a fixed fee of Rs. 20 for intraday orders in all other segments.
The company has the backing of some of Tiger Global and Ratan Tata. When it comes to its services, the company’s offerings include trading and investment related support for stocks, M&O, mutual funds, digital gold and IPOs.
The company’s active customer base is 23,696,796.
3. Angel brokerage:
The main technology-backed company is the retail brokerage firm. The company offers advisory services, margin financing as well as equity loans. In addition, the company is dedicated to the distribution of financial products. The company’s network includes 11,000 authorized people.
The company is a member of ESB, NSE as well as 2 of the major commodity exchanges – NCDEX and MCX.
The firm’s active clientele includes 16 60 058.
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