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Top 10 Full Service Brokers in India

Top 10 Best or Most Popular Full Service Brokers in India 2023

Are you a beginner or an occasional trader or investor, you should consider opening an account with full-service brokers. Although they charge higher brokerage fees percentage than discount brokers but provide many value-added services including research & advisory, stock trading tips, dedicated customer support, etc. First-time traders can get trading tips, access research reports, and even equity investment recommendations from full-service brokerage firms. Get a genuine list of the 10 most popular full-service stock brokers in India 2023 by the number of active clients.

What is a Full-service Broker?

    A full-service broker is a traditional broker that offers complete trading and investing solutions to customers. Along with trading on multiple exchanges, they provide many value-added services like research & advisory, trading tips & recommendations, dedicated relationship managers, 3-in-1 account opening, portfolio management services, and branch customer support.

    Although full-service brokers charge a traditional % based brokerage on trading across segments, nowadays, looking to the immense growth of discount brokerage services, they have also launched a fixed brokerage model to capture maximum users. ICICI Direct is the best full-service broker in India with the highest active client base (28 Lakh+) that offers a 3-in-1 account opening (Demat + Trading + Bank Savings A/c), offline branch support, and research & advisory services. ICICI Direct Neo is a zero brokerage plan that charges Rs. 0 brokerage on futures trading and a flat Rs. 20 per order brokerage on all intraday and options trades. Kotak Securities and HDFC Securities are the other top full-service brokerage firms.

Here, we have created a list of the top 10 full-service brokers in India on account of active users, brokerage charges, the best trading platforms with unique trading features, research service offerings, personalized relationship managers, and offline customer services via branches.

Top 10 Most Popular Full Service Brokers in India 2023

Broker detail Review Request Callback
ProstocksBest broker offering Monthly Plan @899Prostocks ReviewOpen Account
ICICIDirectICICIDirect ranked number 1 broker with active clients 2333088ICICIDirect ReviewOpen Account
HDFC SecuritiesHDFC Securities ranked number 2 broker with active clients 1063911HDFC Securities ReviewOpen Account
Kotak SecuritiesKotak Securities ranked number 3 broker with active clients 923785Kotak Securities ReviewOpen Account
Motilal OswalMotilal Oswal ranked number 4 broker with active clients 805125Motilal Oswal ReviewOpen Account
SharekhanSharekhan ranked number 5 broker with active clients 694334Sharekhan ReviewOpen Account
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  • SBICAP SecuritiesSBICAP Securities ranked number 6 broker with active clients 516083SBICAP Securities ReviewOpen Account
    IIFL SecuritiesIIFL Securities ranked number 7 broker with active clients 480984IIFL Securities ReviewOpen Account
    AxisDirectAxisDirect ranked number 8 broker with active clients 333638AxisDirect ReviewOpen Account
    GeojitGeojit ranked number 9 broker with active clients 235600Geojit ReviewOpen Account
    SMC GlobalSMC Global ranked number 10 broker with active clients 153078SMC Global ReviewOpen Account

    Best Full-Service Brokers in India 2023- Final Verdict

    ICICI Direct is the top rated full-service broker in India with 28 Lakh+ customers, 3-in-1 account opening, free futures trading, and free equity trading tips & recommendations. Its zero brokerage plan charges a flat Rs 20 brokerage on equity intraday, equity options, commodity derivatives, and currency derivatives segment. The broker has multiple pricing models like Prepaid brokerage plan, I-secure plan, and Prime Plan, and clients can select the best one based on their requirements. HDFC Securities, Kotak Securities, Motilal Oswal, and IIFL securities are the other most popular full-service brokerage houses.

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    ICICI Direct is one of the most prominent full-service stockbroking firms in India. Following are the key reasons to trade with ICICI Direct;

    1. An active clientele base of above 28 lakh customers
    2. 3-in-1 account opening facility (ICICI Trading + Demat + Bank Saving A/c).
    3. Multiple pricing models to suit traders' & investors' requirements
    4. Neo Zero Brokerage plan offers free futures trading and charges Rs. 20 flat brokerage in other segments.
    5. All kinds of trading platforms; ICICI Direct App, Website, and Trade Racer trading terminal
    6. One-click equity to invest in a theme-based portfolio.
    7. Equity and derivative research reports including trading & investing ideas.
    8. 750+ branches all over the country to offer offline services.
    9. Indian residents as well as NRI trading services.


    Full-service brokers are traditional brokers or mostly bank-based brokers that offer online trading on BSE, NSE, and MCX along with add-on services such as research, trading tips, and more. Here are the top-notch benefits to trade with full-service brokers in India.

    • A dedicated in-house research team to provide research & advisory services
    • Various types of research reports; market research, sector research, company research, mutual fund research, IPO research, etc.
    • Stock trading tips & recommendations.
    • 3-in-1 account opening services to offer a seamless flow of funds between trading & bank accounts.
    • Offline branch-based customer support
    • Dedicated relationship manager to resolve customer queries.
    • NRI trading services.


    Many factors affect the decision to select the best full-service stock brokerage firm. Here are the details;

    • Financial product offerings and diversity.
    • Research reports, depth of research, and research reliability
    • Stock market trading tips.
    • Branch network for offline support.
    • Trading platforms and features.
    • A dedicated relationship manager to offer personalized services


    HDFC Securities is a famous full-service broker in India with above 10 lakh users. The broker offers a highly advanced Pro Terminal platform specially designed for pro traders with 8+ charts, stock market news, research, and other features. A state-of-the-art system of the platform enables users to analyze past, present, and future market trends. It further offers a variety of research reports such as equity research, derivative research, Mutual fund research, basket ideas, SIP ideas, and event reports like market commentary, result update, etc.

    It offers low brokerage trading services by charging 0.10% delivery brokerage and Rs. 20 on derivative (F&O) trading. Residents and NRIs can open an account with HDFC Securities and start online trading across segments.


    Kotak Securities, a part of Kotak Mahindra Bank, is ranked at the top 2nd full-service stock brokerage firm. The broker allows customers to open a Trinity account, a 3-in-1 account of Demat + Trading + Kotak Bank a/c to offer a seamless trading experience. Its Trade free Plan is popular among traders because of zero brokerage intraday trading while charging Rs. 20 flat brokerage on all F&O trades. The broker provides phenomenal trading platforms to customers, such as a trading website, Kotak Stock Trader mobile app, Kotak Trade Smart trading terminal, and Kotak Keat Pro X high-speed trading software.

    If you are new to trading & investing, then it is the best broker to get the latest stock market research, trading recommendations, derivatives strategy, and currency & forex insights.


    Motilal Oswal offers a complete package of trading & investment products such as retail broking, wealth management, asset management, private equity, currency broking, and investment banking. It has an active user base of above 8 lakh customers comprising retail clients, foreign institutional customers, and corporate clients. It is the best broker for research services in India, that offers market research, sector research, stock-specific research, thematic reports, and IPO research reports.

    The broker has dedicated platforms to meet varied requirements of traders and investors. MO Trader App is a share trading app designed for advanced traders, whereas the MO Investor app is a stock market trading & investment app to invest in stocks, mutual funds, forex, and get research reports.

    The broker has the largest network of branches, franchises, and sub-brokers across the country. The broker has a strong market presence of over 2200 locations in 500+ cities to serve customers in metro cities to small towns.


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