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Top 10 stockbrokers with reviews in India 2019

Nowadays, the major concern is less about the trading system or strategy but more about which broker you’re using. There has been a lot of issues since then. Complaints against brokers are upsurging every day. Be it from the client or from CBI. About a month ago, CBI registered a case against OPG securities for abusing the architecture of NSE in conspiracy with officials of NSE and SEBI. Brokers are usually charged with the foul play of charging the traders with unused services.

A little relief came when about a few years ago, the stockbroker industry revolutionized from full stockbrokers to discount brokers. Yes, it was good news when the traditional stockbroker turned into modern discount brokers but that was not the satisfying end to the problem.

In 2018,  new generation people still feel heavily charged from discount brokers. But another good news, in fact, great news, was the beginning of Zero Brokerage Broker era. There are few brokers in the market who claim to be zero brokerage brokers, but the sad truth is, they increase the cost for every other service to compensate for it.

Below is the list of top brokers along with reviews in India 2019. The reviews can either be positive or negative depending on the weight of the votes or common view.


Finvasia Logo

Finvasia was the first, who came up with the revolutionary idea of Zero brokerage broker. There are no charges in each and every segment available. In other words, you can trade Equity, F&O, Currency, Commodities and what not for zero cost with the broker (apart from transaction costs which are chargeable by NSE). Finvasia acts as a clearing member of NSE, which enables them to charge nothing for both opening both demat and trading accounts, including the annual maintenance costs.

Based on the reviews, on Google Review and Quora. Almost every trader who trades with Finvasia is satisfied with their services, and there is no sign of hidden charges and no record of any issue on the news. They were recently awarded as “Best Trading Execution / Platform” at Benzinga Global Fintech 2017 in New York.

2. UPSTOX (RKSV Securities)


Upstox is an online discount brokerage firm funded by a group of people including Ratan Tata, Kalaari Capital, and GKV Davix. They don’t charge anything for trading in Equity in Delivery Trading. They are known for offering cheap brokerage. For the rest of the segments such as Intraday trading, F&O, currencies and commodities, they charge flat at Rs. 20 per order.

Based on reviews, on Google Review and Quora. There is no sign of hidden charges. But the common issues in trading with Upstox are server glitches and customer support.



ShareKhan is a subsidiary of parent organization BNP Paribas. BNP Paribas is a European Bank with offices in 75 countries in the world. They charge differently for each segment available: 0.1% per order on intraday trading, currency future, and commodity, Rs. 100 per contract or 2.5% (whichever is higher) on the option trade. Rs. 30 per lot on Currency Options. Lastly, for trading delivery equity, 0.5% or 10 paise per share (whichever is higher).

There are no sufficient reviews on Google Review. Though, you can check its reviews on Quora. There is a common issue of account opening which can take more time than usual, other being complexity and disloyal support. There are also some signs of overcharging from the traders.



TradeSmartOnline is the venture of an organization VNS Finance. They have two different brokerage plans depending on the volume. The brokerage charged from large volume traders is Rs. 15 per executed order. In case of low volume traders, it is 7 style, i.e. 0.007% on Intraday, Futures, Commodities and Currency trading; 0.07% on delivery; Rs. 7 on Options.

Based on reviews, on Google Review or Quora. The common reviews are satisfied with their quick service. The unique thing about TraderSmartOnline is that they offer high leverage as compared to any other brokers in the list.



5Paisa is an online financial services provider, initially belonged to India Infoline Limited (IIFL), later they were demerged. The charge for trading is a flat Rs. 10 per executed order in Equity, F&O, and Currencies and they offer free first year DP AMC.

There are insufficient reviews online. You may check reviews on Google Review or Quora. From the common point of view, people expressed great grief about unsatisfactory support and hidden charges.




SAMCO is an online discount broker and the execution broker for the Indian Trading League. They offer a flat fee model of Rs. 20 per order on all segments. You can trade either in Equity, F&O, Currency or Commodity.

Based on reviews, on Google Review or Quora, the common satisfactory reviews are, about their honest pricing and service. Recently last month, a new independent director Hinesh Doshi was appointed.



PROSTOCKS is a venture of Sunlight Broking LLPA stockbroking firm offers a flat fee of Rs. 15 per executed order regardless of the size of trades, for all segments except commodity which is not available.

There are no sufficient reviews on Google Review. Though, you can check its reviews on Google Review or Quora.



FYERS , an online discount stock broker, offering free of cost trading in equity delivery and thematic investments. The other freebies include its Fyers One platform as well as account opening charges. All other segments cost flat Rs. 20 per order.

Based on reviews, on Google Review or Quora. The common satisfactory reviews are about its trading platform and low commissions.


Wisdom capital

Wisdom Capital offers Freedom Plan which is for those who are looking for zero brokerage in Equities, F&O and Commodities. They also offer free of cost account opening for trading and demat account. The AMC charge for trading is zero whereas, for demat, it is Rs. 999+GST but only for one time.

Based on reviews, on Google Review, or Quora. The common problem is the unsatisfied customer service. Apart from that, majority enjoy their pliability brokerage plan. There is a 100 days’ challenge program for traders to prove their skills and the winners will be refunded all the brokerage fees.


ICICI direct

ICICI Direct is a retail trading and investment services from ICICI Securities and is one of the topmost bank based full-service stock broking company in India. Their pricing is bit complicated and is higher than all the others in the list. You can visit their pricing here.

Based on reviews, on MouthShut or Quora. There are common complaints regarding hidden fees and expensive brokerage.

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