Whenever we try to think of an Indian infotainment show, “Kaun Banega Crorepati” is the first one to knock on our minds. As the name insinuates, this television game show gives an opportunity to its contestants to win whopping amounts of money.
Whether it’s the game setup or the remarkable hosting by legendary Amitabh Bachchan, the show has its own magnetism and charm. Among the things that make Kaun Banega Crorepati more fun and exciting are the amazing lifelines; audience poll, phone-o-friend, 50:50, or expert advice, which are there to help a contestant get closer to the prize money.
The interesting thing is that these lifelines can be related to the investment world as well. Just as the experts of Kaun Banega Crorepati come out to support the contestants in the game, the brokers come out in the trading world to guide the investors.
This is why stockbrokers are more commonly known as investment advisors. Let’s dive in and know-how.
Who is a Stockbroker?
If you aspire to invest in stocks of Indian companies, you have to do it via stock exchanges like NSE and BSE. However, it’s not possible for a common man to buy stocks directly through the stock exchanges.
Hence, they require a middle man to enforce the trade; and these middlemen are known as stock brokers. The function of a stockbroker is to promote the buying and selling of stocks at the stock markets, on behalf of investors.
But if you are an occasional trader or investor who is not accomplishing more than 3-4 transactions monthly, then you should opt for a full-service broker.
Who is a full-service broker?
A full-Service Broker is also called a Traditional Broker. This section of brokers provides assistance to their clients for any sort of investment. Here is a list of some of the assistance given by Full-Service Brokers:
- Offline or branch Presence.
- Advisor, Research, and Stock Tips.
- Devoted dealer or Relationship Manager.
- 24X7 Support to customers.
- Training sessions for the clients.
- Facilities of Margin Funding.
- Diversity in financial products.
When raw investors go on to take assistance from brokers, they often get confused with questions like Which stockbroker will be best suited for them? Which will be the most reliable one? Who has less brokerage? etc.
To find answers to these questions, let’s have a look at some of the best full-service brokers in India.
Best full-service brokers in India
Here are some of the best full-time brokers in India:
1. Angel Broking
With its inception in 1987, Angel Broking is a more than 30 years old, full-service stockbroker in the business with a flat brokerage of Rs. 20 per trade. Flat brokerage rates could save a great amount of money if you trade high volumes.
Nonetheless, their value-added assistance is restricted to the stock advisory, investment in bonds (corporate, tax-free, NCD & government bonds), and loans against the shares.
But nowadays, it is majorly known for its Robo advisory services, Angel Broking ARQ. It could be regarded as an espionage tool for checking stock performance and portfolio conditions.
Angel Broking’s top tech platforms include Angel Broking mobile app and angel eye.
Number of active clients: 1009199
Complaint percentage: 0.07
With two decades of industry presence and with 2 million dependents and Rs. 46,000 crores of client’s assets under supervision, ShareKhan is one of the best full-service brokers in India.
For traders, ShareKhan has smart search and investment pattern finder & alert tools to screen and specify potential stocks. Their value-added assistance encompasses portfolio management, investment in mutual funds, and loans against shares.
ShareKhan is not only suitable for the intermediate level of investors but also for the advanced level. It is known for its trading applications that include Trade Tiger.
Number of active clients: 600113
Complaint percentage: 0.03
3. IIFL or India Infoline
IIFL Securities Ltd (IIFL) is among the most decent full-service stockbrokers in India. IIFL Demat account is adequate for investors who want direction and research help while making investment judgments. You would get promising and generous customer assistance from the IIFL team.
But the thing to be kept in mind while dealing with IIFL is that you would have to pay a percentage based brokerage on your trading & value investing. Here, you are allowed or permitted to choose any plan from 3 different brokerage plans that include variable brokerage, value-added brokerage, and flat brokerage.
The mobile trading app of IIFL is arguably among the best trading apps in India.
Number of active clients: 252498
Complaint percentage: 0.04
4. ICICI Direct
ICICI Direct is one of the best and most reliable stockbrokers in India. Its customers enjoy services from ICICI Direct with utmost trust. It is an online broking brand of ICICI Bank. The full-service stockbroker, ICICI Direct, proposes a vast range of banking products along with facilities of stockbroking.
With the assistance of ICICI Direct, one could have access to loans (auto, home), insurance, eLocker, NPS, mutual fund investment, investment advisory, IPO as well as wealth management services.
ICICI Direct has three brokerage plans to offer its customers; these include:
- iSecure Plan.
- ICICI Direct Prime.
- Prepaid Brokerage Plan.
Number of active clients: 1195055
Complaint percentage: 0.02
5. Motilal Oswal
At Motilal Oswal, you will be getting the industry-best solid research advisory. They have storage of 30,000 reports covering markets, economy, and 230 stocks across 21 industries.
Motilal Oswal’s value-added benefits encompass the facility to invest in gold ETFs, fixed income instruments, mutual funds, IPO, bonds, and portfolio management (PMS) services.
Three types of plans are offered by Motilal Oswal; these include; Value Pack, Margin Scheme, and AMC 999 plan.
One of the unique things about Motilal Oswal is that it came up with its own online mobile trading application called Motilal Oswal Mobile Trading App.
Number of active clients: 448808
Complaint percentage: 0.05
6. HDFC Securities Review
HDFC Securities is a full-service stockbroking assistant of HDFC Bank. HDFC Securities gives a 3-in-1 and 2-in-1 for traders as well as investors.
The value-added benefits comprise research advisory, loan products (auto, home, personal & education), gold, ETF, bonds, NPS investments. HDFC Securities also offers you the facility to invest in U.S. stocks.
HDFC is one of the best when it comes to trading platforms. The HDFC Securities trading platform includes HDFC securities app and HDFC pro terminal.
Number of active clients: 801201
Complaint percentage: 0.01
7. SBICap Securities Review
SBICap Securities is considered to be one amongst the best stockbrokers of India, where the customers and clients can come and put their trust in the brokers. As the name suggests, SBICap Securities is supported by the largest public sector bank SBI. The full-stock broker proposes a 3-in-1 account.
The assistance and products you can access in the SBICap Securities are decent research advisory, trade calls, loans against securities, home & auto loans and the facility to invest in NCDs, mutual funds, OFS, and IPOs.
The trading platforms of SBICap Securities are considered equally reliable. These include SBISMART Trading App, SBISMART Xpress and SBISMART Web trading portal, and SBISMART Web trading portal.
Number of active clients: 285983
Complaint percentage: 0.03
8. Ventura Securities Review
Ventura Securities commenced stockbroking in 1994 and proposes stock advisory, hand holdings and trading tips while trading and investing.
The value-added assistance encompasses investment in IPO, fixed income securities, NPS, mutual funds and depository services.
Venture trading platforms have gathered a lot of attention in the past few years. These trading platforms are very affordable. These include Ventura Pointer and Ventura Wealth & Ventura Commodities Mobile Apps.
Number of active clients: 84835
Complaint percentage: 0.03
9. Religare Broking Review
Religare Broking is an associate of Religare Group, giving stockbroking benefits to 10 lakh customers. However, their value-added assistance is restricted to research advisory, NPS, and investment in mutual funds.
It has also gathered some attention in the past few years, and now people who seek to invest in stocks have started considering Religare Broking, among others.
The trading platforms of Religare Broking are also on the verge of becoming a big name in the industry. These platforms include Religare DIET ODIN, Religare Web Portal, and Religare Dynami.
Number of active clients: 120142
Complaint percentage: 0.03
10. Axis Direct Review
Axis Direct is also one of the stockbroker houses that offer a number of facilities to its customers. It is among the successful stockbroker houses with a decent number of customer base.
Axis Direct is an online trading & investment group of Axis Bank. The value-added assistance comprises portfolio tracker & management, advisory services both for mutual funds and stock, general insurance, tax planning, ETF, and IPO’s.
The trading platform of Aix Direct can be considered a good option for customers. The smooth usage of this trading platform is the reason why it is on the list of the best brokers. It includes Axis Direct Trade, Axis Web Trading Platform, and Axis Mobile Trading App.
Number of active clients: 361263
Complaint percentage: 0.01
Edelweiss is one among those stockbrokers which could be considered for having a reliable stockbroker. The services offered by Edelweiss are also quick one, and hence it has made big in the industry. Edelweiss broking has completed more than two decades in the industry with more than 14 Lakhs clients with Rs. 59,400 crore of assets of clients under management.
You should decide on Edelweiss broking if you require guided portfolio investment assistance. They provide guided portfolios, small case, and portfolio organizer services.
Other services of Edelweiss include investment in mutual funds, gold, ETFs as well as insurance products.
The trading platforms of Edelweiss are among the best, and hardly there are clients who have grudges with these platforms. The trading platforms of Edelweiss include Terminal X3 (TX3) Trading Platform and Edelweiss Mobile Trader.
Number of active clients: 142261
Complaint Percentage: 0.08
As mentioned earlier, the opinion of the experts always comes in as a saviour whenever anybody is in turmoil or a dilemma. Just as the experts of television game show Kaun Banega Crorepati help the contestants win heavy prize money, the stockbrokers or investment advisors also help investors gain a steady amount of wealth through trading.
But the process is not as simple as it seems to be. The selection of the broker is quite an elaborate task. The above-mentioned list enlists a few of the best brokers in the country who facilitate better investing decisions and can get you out of your dilemma.
When selecting a broker, it is advisable to make a thorough analysis of the services and benefits they provide, in order to make a decision best suited for your needs. Just make your decision smartly and wisely.
Happy (and smart) investing!