7 Best Stock Broker For Beginners In India – You Should Open Account With Them

  • Post last modified:September 7, 2021
  • Post category:Stock Market
  • Reading time:10 mins read
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If you are someone who want to start trading and investing in stock market, then you should know these list of 7 Best Stock Broker For Beginners In India.

According to the National Stock Exchange (NSE), there are more than 300 registered stockbroker in India, finding the best stock broker specially if you are a beginner is a tough task.

It is because there are many things one should keep in mind such as lowest brokerage charges, best trading platform for mobile and desktop, Lowest account opening and AMC (Annual Mainenetance Charges), great customer experience, investing options (different financial instruments, such as investment in IPO, FPO, NFO, SGB, Mutual funds etc.

But the problem is how would you know which stockbroker provide all these services and is more importantly cost efficient, it will require you to do a extensive research and as in case there are many fake news in today’s world of internet, there are also incorrect or factually wrong information provided by the websites too.

That is why at moneycontain we make sure you not only get the correct information but the tested and before hand experienced review of products and services.

So below lists of best stock broker for beginners is only prepared after using the services of these stockbrokers, I must say this whether you are a beginner or experienced you should open an trading and demat account only with any of these stockbrokers and rest assured about hassle free online trading and investing experience without doubt.

So without further wait let us know the list of 7 Best Stock Broker For Beginners In India and what to expect, just to let you know it is next to impossible to cover all different services offered by these stock brokers in one post, hence if you want you can read the separate review for any of them on website or the links provided below.

Also, keep in mind the list is hierarchical i.e. the best one at the top and all aggregates of all segments and services has been taken in account while ranking them.

 

Best Stock Broker For Beginners In India:

Moneycontain list of 7 best stock brokers for beginner’s in India in 2021 include:

  1. Upstox Stock Broker
  2. Zerodha Stock Broker
  3. 5Paisa Stock Broker
  4. Fyers Stock Broker
  5. Espresso Stock Broker
  6. Groww Stock Broker
  7. ICICIdirect Stock Broker

 

You can also read the complete review and comparison of these best individual stock brokers here, or by clicking on any of the link mentioned above in the list.

Some of the other Key Features of these best stock broker for beginners include:

  1. Universal search tool to find simple and complex stocks.
  2. Access to NSE/BSE cash, Futures and Options, commodities and Currencies scrips
  3. Cutting-edge charting tools that are above industry standards
  4. Japanese Candlestick Charts of multiple intervals, types and drawing styles
  5. Apply 100+ technical indicators on real-time charts
  6. Trade directly from charts with the Trade From Charts (TFC) feature
  7. Checkout Fundamentals of company such as Balance Sheet, Profit/loss statement, P/E, P/B ratio, Results etc.
  8. Set unlimited number of price alerts for instant updates
  9. Option chain, Option Greek Calculator, Option Moneyness, Option Scholes Calculator etc.
  10. Create unlimited number of customized watchlists
  11. Receive real-time market feeds to stay on top of your scrips
  12. Access predefined watch-list of Nifty 50, FINNifty and other indices
  13. Biometric (fingerprint and Face ID – iOS) 2FA for seamless logins and better security
  14. Invest in ETF’s, IPO, NFO, SGB, Gold, SIP’s in Mutual Funds, and lot more options such as third party integration smallcase, sensibull, etc..

 

Now, that you know the list of best stock brokers for beginners in India, there are 3 things one should always look prior to open an account with any stock broker, these are trading platform, Brokerage charges, Account opening and AMC charges.

But before we compare these 7 best stock brokers for beginners in India based on trading/brokerage and other charges let us see who has the highest active client list, i.e. the highest number of active users as per the latest NSE Data.

 

Stock Broker
No. Of Active Clients
Overall Rating
Open Account Now
Upstox
 31,60,861
9.5
Zerodha
 43,91,059
9.3
5Paisa
 100,5,879
9.1
Fyers
 100,526
8.9
Espresso
 65,645
8.8
Groww
 13,34,543
8.4
ICICIDirect
 18,35,356
8.7

 

First of all high active clients shows the trust it has created among it users, but one also need to know that company which got established earlier will normally have more users.

However, not in above case ICICIDirect is the one got established long back in early 2000, but they have been removed from holding first position by later founded Zerodha in 2008, and now with Upstox founded in 2016.

The kind of growth Upstox has seen in past couple of year is unprecedented, believe it or not but with same speed they will snatch the no.1 position from zerodha with in a span of less than a year in terms of high active client list.

But these only is not the criteria to select a stockbroker for your trading and investing in stock market, there are many other parameters which have been discussed later in the blog, above is just one of them.

So, overall if you are looking to open a trading/demat/mutual fund you can choose any one of them, the charges are very low for all of them for AMC, demat, trading, brokerage, moreover all of the above have a fantastic user interface for the trading platform and a great customer service team to deliver best support.

Having said that Upstox is any day my favorite stock broker while comparing with others.

Click Here to open an account now with upstox and also get Rs.1000 Brokerage credit free for a limited time period*

The overall rating you see is done after reviewing these stock brokers separately and in comparison to one another.

Let us now discuss all of them in terms of different parameters like best trading platform, brokerage charges, Account opening fee, charges etc.

 

Stock Broker
Account Opening Charges
Annual maintenance Charges (AMC)
Open Account Now
Upstox
Rs.99
Rs.25 per month
Zerodha
Rs.300
Rs.300 yearly
5Paisa
Free for Limited Time
Rs.25 per month
Fyers
Free for Limited Time
Free for Limited Time
Espresso
Free for Limited Time
Rs. 400 Yearly
Groww
Free for Limited Time
Free for Limited Time
ICICIDirect
Free for Limited Time
Rs.700 (Free AMC FOR First Year)

 

Below is the overall rating for the desktop or web based trading platform, brokerage charges and mobile apps rating on google playstore for these stockbrokers.

 

Stock Broker
Overall Desktop Based Platform Rating(10)
Brokerage Charges
Mobile App Rating On Playstore(5)
Open Account Now
Upstox
9.5
Rs.20 or 0.05%
4.5
Zerodha
9.3
Rs.20 or 0.03%
4.2
5Paisa
9.1
Rs.20
4.2
Fyers
9
Rs.20 or 0.03%
4.1
Espresso
8.8
Rs.20 or 0.03%
4.1
Groww
8.4
Rs.20 or 0.05%
4.3
ICICIDirect
8.6
Rs.20
3.9

 

Let me explain a little bit about brokerage, as an example

At upstox you pay ₹20/trade* or 0.05% (whichever is lower) for Intraday trading in Stocks, Future & Option, Currencies & Commodities. Whereas no brokerage at all for delivery based trades.

What they mean is, suppose you bought stock xyz priced at Rs.100, quantity 100 on intraday basis,

so the total turnover would be bought 100, sold 100(100*200)=  20,000 on this amount they will charge either whichever amount is lower as 0.05% of 20000, is Rs.10 so they will charge that instead of flat Rs.20.

Moreover for investing in mutual funds there are no brokerage or commission is charged at upstox at all.

Click Here to open an account now with upstox and also get Rs.1000 Brokerage credit free for a limited time period*

Earlier, for opening a demat or trading account with any broker might have caused you couple of bucks, but with ever rising competitiveness across broking industry the charges for opening the account have been slashed drastically by many best stock brokers in India.

Not only that, some brokers are even offering various deals while opening the account with them for a limited time period.

While opening account online keep your Pancard, Aadhaar Card and your signature on white piece of paper handy with you.

Also, you will need to take a selfie for the process of KYC process. Your account gets activated within 24-48 hours after submitting the required details and you can start placing trades once you receive the credentials in your email

 

My Opinion On Best Stock Broker For Beginners In India:

Now if you are in dilemma as which stockbrokers to choose to start your trading and investing journey as a beginner among the list of 7 Best Stock Broker For Beginners In India from above.

Then, Just like in cooking without all ingredients in balance can’t make a dish best, similarly if you are choosing a stock broker you have to look for all the features.

Never opt any stockbroker based on just one particular USP, see what all it has apart from that.

In my opinion, Upstox have these, it is the best stock broker for any beginner who is thinking to start trading and investing in stock market online hassle free as they are offering top notch trading and investing experience to its users with their innovation and research.

Click Here to open an account now with upstox and also get Rs.1000 Brokerage credit free for a limited time period*

At last if you are thinking why I did not spoke about margin or leverage with any above stockbrokers, it is because of SEBI Rules on Intraday margin every stockbroker is giving same margin in every segment throughout India, hence this does not matter anymore.

To open an account of your choice, click on the link below and do simple online and hassle-free paperless process within minutes.

To Open an Account with Upstox click here.

To Open an Account with Zerodha click here.

To Open an Account with 5Paisa click here.

To Open an Account with Fyers click here.

To Open an Account with Groww click here.

To Open an Account with Espresso click here.

To Open an Account with ICICIdirect click here.

 

If you are a beginner in trading and investing, please read this amazing guide on how share market works in India?

Harshad Mehta Scam Know the Real Story of Amitabh Bachchan of the Stock market.

Are you looking to invest a lumpsum amount in any fund, than you must know the future value of your investment. Use moneycontain lumpsum sip calculator with inflation here to calculate it easily in 3 steps.

Want to know how much you need to save to reach a specific target than do check moneycontain monthly savings goal calculator here.

If, you have liked the content please do share it with your friends or on social media, as sharing do bring the good karma. If you have any questions or feedback you can leave them in comment box below.

Note: Please do your own research and make investment. Moneycontain will not be responsible for any of your losses at all. The point made is for educational purpose only and intended to give information. All investments are subject to risks, which should be considered prior to making any investments.

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