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Best Brokers for Mutual Fund Investment in India


Best Brokers for Mutual Fund Investment in India 2023

Are you a mutual fund investor? or looking to invest in mutual funds in the future, then the article is for you? Mutual funds investments are a great investment opportunity for small investors to invest a small sum of money during a fixed interval of time for a definite time duration. Nearly every broker offers online mutual fund investment services but finding the right broker is challenging. You must look for several important parameters to select the best mutual fund stockbroker. Check below a list of the best broker for mutual fund investment in India 2023.

Meaning of Mutual Fund

Mutual Funds are the best investment products that pool money from many investors and diversify it across shares, debentures, bonds, cash, and other securities. There are different types of mutual funds; equity, debt, hybrid, ELSS, and FoF. Users can invest in any category based on their investment goal. SIP and lumpsum are the two routes to invest in mutual funds, and SIP (Systematic Investment Plan) is the most preferred route because a fixed amount of money gets invested periodically. People can start investing in mutual funds as low as Rs. 500 per month via the SIP route

Best Brokers for Mutual Fund Investment| Key factors to check

Many top discount brokers like Zerodha, Upstox, 5paisa, Groww, etc. have started offering mutual funds in their product portfolio to provide a great investment alternative to investors with better risk management and diversification in a basket of securities. However, which are the best brokers for mutual fund investment in India? Depend on many parameters such as follows;

  1. Types of Mutual Funds: Direct and regular are the two types of mutual fund schemes offered by Asset Management Companies (AMCs). Direct plans are subject to a less expense ratio, therefore delivering 1%-1.5% per annum extra return, and over a long-term period, it can help you earn a far better return. Before selecting any broker, you must check whether your broker offers direct mutual fund schemes or not to get greater returns.
  2. Brokerage: Undoubtedly, investing in mutual funds through a broker knocks investors' heads for the brokerage charges. Top discount stock brokerage firms, Zerodha, Upstox, and Groww offer a free direct mutual fund investment at zero brokerage charges.
  3. MF Account opening fee: Top discount brokerage firms charges zero mutual fund account opening fee. Thus, customers can open a free mutual fund account at Rs. 0 charges.
  4. MF Investment app: A broker can allow mutual fund investment through its website, mobile app, or both. Before considering any broker, you must check whether your broker offers a dedicated mutual fund investment app or not. The MF app facilitates easy and paperless investment anytime anywhere in the world simply using your phone. You should further the app compatibility on android and iOS devices.
  5. MF research & advisory: If you are a beginner, then you must check whether your brokerage firm offers mutual fund research services or not. Although discount brokers do not provide research facilities, a few brokers like Angel One, 5paisa, Paytm Money offer MF research services.

To help you out, we are providing a list of the best brokers for Mutual Fund Investment in India - 2023. You can consider below top 10 brokers to open a mutual fund account and start online investment in mutual funds.

Best Brokers for Mutual Fund Investment in India 2023

Broker Direct Plan Regular Plan MF Account
Opening fee
MF Brokerage Review Request Callback
ZerodhaYesYesFreeFreeZerodha ReviewOpen Account
GrowwYesYesFreeFreeGroww ReviewOpen Account
UpstoxYesYesFreeFreeUpstox ReviewOpen Account
Paytm MoneyYesYesFreeFreePaytm Money ReviewOpen Account
5paisaYesYesFreeFree5paisa ReviewOpen Account
  • Ranked #1 Broker in India(5*)
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  • FyersYesYesFreeFreeFyers ReviewOpen Account
    Angel OneNoYesFreeFreeAngel One ReviewOpen Account
    NuvamaYesYesFreeFreeNuvama ReviewOpen Account
    Alice BlueYesYesFreeFreeAlice Blue ReviewOpen Account
    SharekhanNoYesFreeFreeSharekhan ReviewOpen Account

    Best Brokers for Mutual Fund Investment in India - Final Verdict

    Based on the above analysis, Groww, Zerodha, and Upstox are some of the best brokers for mutual fund investment in India who offer direct mutual fund schemes from all the top fund houses at zero brokerage or subscription fee. Customers can open free MF account and buy direct funds on the mutual fund investment app. However, if you are a beginner and looking to get mutual fund research & advisory services then Paytm Money, Edelweiss, 5Paisa, and Angel One can be a right choice for you because the brokerage firm offers mutual fund research & advisory services and Large and Mini Investment Packs in line with investor’s risk appetite.

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    FAQs

    In April 2017, Zerodha has launched Zerodha Coin as the free direct mutual fund investment platform. It is the best broker for mutual fund investment due to the following facts;

    1. Open Instant paperless mutual fund account.
    2. Direct mutual fund schemes across equity, debt, hybrid, and ELSS categories.
    3. Zero brokerage, commission, or subscription fee.
    4. Funds from the 40+ top fund houses i.e. HDFC, ICICI, Axis, SBI, Reliance, L&T, and more.
    5. Zero MF account opening charges.
    6. 0 DP charges on MF withdrawal or redemption.
    7. Zerodha Coin, a dedicated mutual fund app and web platform.
    8. Pledge Mutual fund holdings to get collateral margin.
    9. No hidden charges.

     

    If you are a beginner in mutual fund investment then Paytm Money is the best broker for you. It is because there are a plethora of MF schemes available such as equity, debt, and hybrid suitable for different kind of investors. Therefore, being a beginner, you may seek Paytm Mutual Fund research & advisory services to select the best scheme in line with your risk appetite and investment goal.

    Paytm Money also provides the following two types of Investment Packs or Model portfolio to meet investors long-term investment goal.

    1. Large Investment Pack: Model portfolio with 3-5 mutual fund schemes designed for investors who want to invest atleast Rs. 5,000.
    2. Mini Investment Pack: Model portfolio with 3-5 mutual fund schemes for investors who want to invest atleast Rs. 2,000.

     

    Groww has started its journey in 2016 as a free direct MF platform on the Groww mobile app and its website. Groww app offers an easy and paperless investment in direct funds of 5000+ schemes from 35+ fund houses at nil brokerage or commission fee. Investment in direct funds offers upto 1%-1.5% extra returns due to less expense ratio.

    You can start SIP with just Rs. 500 in your favorite scheme on groww app and also switch external regular MF investment to direct funds at Rs. 0 charges. Groww MF app is protected with 128 bit SSL encryption, therefore, it is one of the safest platform for MF investment.

     

    Many full-service brokers like Angel One, Sharekhan, Edelweiss offers mutual fund research & advisory services to customers to help them take wise investment decision. Angel One has a dedicated ARQ Robo Investment engine to offer personalized MF advisory services.

    If you are a beginner then you can start investing in mutual funds with these brokers to invest in the best scheme in line with your risk appetite and goal.

     


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