Finding the right full-service broker in the giant financial markets can be akin to discovering a gem in a sea of stones.
Many questions arise, particularly for those who consider themselves serious traders or investors.
What distinguishes the best from the rest? Which are the best full-service brokers that offer more than just a typical service?
Join us in this review that outlines the top 10 full-service brokers that provide comprehensive services to shield you in the financial market. So, without further ado, let’s proceed.
List of Top 10 Full-Service Brokers in India
| Rank | Broker Name |
| 1 | ICICI Direct |
| 2 | Motilal Oswal |
| 3 | Sharekhan |
| 4 | HDFC Securities |
| 5 | IIFL Securities |
| 6 | Axis Direct |
| 7 | SBI Securities |
| 8 | Geojit |
| 9 | Choice Broking |
| 10 | Ventura |
The table above briefly outlines each vital feature these brokers provide. If you need more time, you can quickly recap the broking platforms.
Otherwise, look at the detailed discussions on each broker available below. All the brokers you watch on this list of the best full-service brokers have been precisely reviewed.
They consider vital parameters such as the number of active clients, top-notch services, charges, product range, and other distinguishing factors that set them apart.
So, without further ado, let’s compare these full-service brokers.
Comparison of Full-Service Brokers
So, here comes a detailed comparison of the top full-service brokers in India, with the benefits of each discussed along the way.
| Broker Name | Active Clients | AMC | Account Opening | Delivery Brokerage | Intraday Brokerage |
| ICICI Direct | 26 Lakh+ | Rs.300 per Year | Free | 0.27% of Transaction Value | Rs.20 per Trade |
| Motilal Oswal | 9 Lakh+ | Rs.300 per Year (1st Year Free) | Free | 0.20% of Transaction Value | 0.02% of Transaction Value |
| Sharekhan | 7.5 Lakh+ | Free (1st Year) | Free | 0.30% of transaction value | 0.02% on transaction value |
| HDFC Securities | 11 Lakh+ | Rs.750 per Year | Rs.199 | 0.32% of Transaction Value | 0.032% of Transaction Value |
| IIFL Securities | 7 Lakh+ | Rs.250 per Year (1st Year Free) | Free | 0.25% of Transaction Value | 0.025% of Transaction Value |
| Axis Direct | 3.5 Lakh+ | Rs.750 (Rs. 350 for first year) | Free | 0.5% of transaction value | 0.05% on transaction value |
| SBI Securities | 6 Lakh+ | Rs.750 | Rs.850 | 0.50% of transaction value | 0.075% on transaction value |
| Geojit | 2.3 Lakh+ | Free | Free | 0.3% of transaction value | Rs.20 per Trade |
| Choice Broking | 2.6 Lakh+ | Rs.200 (First year free) | Free | 0.2% of transaction value | 0.02% on transaction value |
| Ventura | 1.14 Lakh+ | Rs.350 per Year | Free | 0.15% of Transaction Value | 0.02% of Transaction Value |
Find this table a quick overview of the brokers & their services. As you can see, each broker has a different number of total active clients.
With over 26 lakh clients, ICICI Direct is one of the most popular full-service brokers.
Then, there are Motilal Oswal and HDFC Securities, with the first having over 9 lakh clients and the latter over 11 lakh clients. Similarly, each broker charges a unique amount for Account Maintenance per annum.
However, Sharekhan and Geojit don’t charge anything for it. Account opening is almost free on every platform, but you will notice slight variations in delivery and intraday brokerage when comparing them.
Much like SBI Securities & Axis Direct, both charge the highest 0.50% of transaction value on delivery orders. However, intraday brokerage varies between 0.02% – 0.04% on every platform.
ICICI Direct
In the list of the best full-service brokers in India, ICICI Direct shines an eminent name. Set up in 1994, the Mumbai-based ICICI is among the giants of the Indian banking sector.
The broker serves a vast 26 lakh+ active clients. Also, you must pay attention to ICICI Direct’s loyalty and accuracy.
When discussing the broker’s services, from desktop to mobile, each witness an excellent experience.
Why choose ICICI Direct?
- Firstly, you can start for free. Second, there’s no charge for the plans you see.
- Intuitive platforms of ICICI Direct equip cutting-edge technology, and you’ll be impressed.
- Moreover, users can also enjoy perks like happy trading hours and complimentary research reports.
- Innovative tools for trading and investments make the whole experience a breeze for users.
- Also, users praise multiple brokerage plans in ICICI Direct that suit diverse people’s needs.
- Their educational materials are also massive; you can take advantage of them.
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Motilal Oswal
Motilal Oswal is one of the top full-service brokers. They are known for being reliable and innovative in finance.
Founded in 1987, MO has over 30 years of experience and has gained the trust of over 9 lakh active clients.
They offer free account opening and a low annual fee of just Rs. 300 (the first year is free), making their services accessible to everyone. Their transaction costs are also transparent and competitive.
Why choose Motilal Oswal?
- Motilal Oswal remains at the forefront of tech and has many digital solutions across platforms.
- From free account openings to a range of affordable financial products, Motilal Oswal caters to diverse needs and budgets.
- With helpful portfolio restructuring tools, Motilal empowers excellent decision-making for beginners and seasoned investors.
- The platform features 11 investment calculators to assist investors.
- Loans and margin facilities are remarkable as well.
Sharekhan
Set up in 2000, Sharekhan is a popular name among full-service brokers. It has a massive clientele of over 7.5 lakh active traders.
By offering tailored, top-notch services, the company keeps entertaining its users. Moreover, Sharekhan extends its services globally.
It has branches in Oman and the UAE, catering to the needs of international investors.
Why choose Sharekhan?
- If you prefer online browser-based trading, mobile app convenience, or personalized help through call or in-person trades, you will like Sharekhan.
- They even let users seamlessly invest in mutual funds online. Diversifying your investment portfolio is easy with them.
- You can even benefit from expert research reports. They also provide customized alerts to make informed investment choices.
- Trade smartly and swiftly with Sharekhan’s robust desktop trading application, Trade Tiger, and mobile app, Sharekhan Mini.
- You can even place trading orders effortlessly through Dial-N-Trade, a telephone assistance service.
HDFC Securities
Founded in 2000, HDFC Securities also leads the race for the best full-service brokers in India, boasting over 11 lakh active clients.
As a subsidiary of HDFC, India’s largest private sector bank, it benefits from a strong foundation of stability, expertise, and brand reputation.
Offering cutting-edge software and tools, HDFC Securities’ platforms deliver real-time updates, portfolio details, research reports, stock tips, interactive charts, and live market data, ensuring comprehensive support for traders.
Why choose HDFC Securities?
- Under the umbrella of HDFC, it provides security and trust, which is particularly crucial in volatile markets.
- A diverse range of products catering to various investment and advisory needs.
- You can access up to 5x leverage (depending on stocks) for equity intraday.
- Besides, their extensive branch network and robust IT infrastructure add to their robust reputation.
IIFL Securities
IIFL Securities was founded in 1995 and is one of the best full-service brokers in India. It has more than 2,900 branches and helps over 700,000 traders and investors.
It offers many financial products and services and is super popular in India’s stock market.
Why choose IIFL Securities?
- They have an intelligent team that gives excellent advice with an 80% accuracy rate!
- IIFL Securities offers many ways to invest, like stocks, commodities, currencies, and IPOs, all in one place.
- They have excellent tools, such as easy-to-read charts, intelligent insights from AI, and customizable tools to help you trade better.
- They have a free API if you want more control over your trading.
Axis Direct
Established in 2011, Axis Direct is among the top 10 full-service brokers with exceptional offerings. They follow a client-centric approach.
Based on their excellent services and seamless trading experience, they win people’s hearts. Right now, they have 3.5 lakh active clients.
Moreover, Axis Direct offers hassle-free account opening, ensuring accessibility for all. Take a look at some of the broker’s most remarkable features now.
Why choose Axis Direct?
- First, with Axis Direct, you enjoy the lowest tax charges in the sector. Whether delivery or intraday charges, Axis Direct keeps them minimal.
- They also provide access to diverse assets, advanced charting tools, and features.
- Whether through the user-friendly web portal, the innovative Ring Mobile app, or the feature-rich Ring PC desktop program, Axis Direct ensures a great trading experience for everyone.
- Automated trading is possible with Axis Direct’s Algo trading platform. Additionally, explore a dedicated platform for trading mutual funds.
SBI Securities
Since its start in 2006, SBI Securities has been a big player in full-service brokers.
With more than 600,000 active traders who love using their platform, SBI Securities makes trading easy for everyone.
You can invest in stocks, cash, currency, mutual funds, and more, so there’s something for everyone’s needs.
Why choose SBI Securities?
- SBI Securities gives you access to easy-to-use apps and high-tech trading platforms, making trading easy.
- They provide helpful reports on stocks, sectors, and mutual funds so you can make intelligent decisions.
- Since it’s connected to a big bank, transferring money and shares happens in a snap.
- Plus, they offer great options for margin and leverage. You can get 1x leverage for buying stocks and up to 5x for daily trading.
Geojit
Since starting in 1986, Geojit has become a big name in India’s money world.
When you look at all the comparisons between full-service brokers, Geojit stands out because it offers many different services that fit what investors want.
It has more than 230,000 active customers, and something unique about Geojit is that it keeps bringing in even more people.
Why choose Geojit?
- Geojit Funds Genie updates you in real time and provides all the tools you need for a smooth investing journey.
- The Geojit Selfie App’s easy-to-use interface makes trading a breeze at home or on the go.
- Geojit Trader X is the perfect fit for seasoned traders, offering powerful charting tools, technical indicators, and live quotes to help you research, analyze, and execute deals quickly.
- If you’re into options trading, Geojit Options Lab has covered you with its detailed strategies, analytics, and risk management tools to help you maximize returns and minimize risks.
Choice Broking
Choice Broking, a well-known full-service brokerage firm founded in 2010, has gained trust and popularity in the industry.
With more than 260,000 active clients, it’s a name you can rely on. They promise to follow all the rules, ensuring your trading is safe.
Choice Broking gives investors everything they need for trading and investing with its excellent platforms and features.
Why choose Choice Broking?
- With Choice Broking, you get excellent deals on the fees you pay when you buy or sell stocks. They can be as low as 0.02% of what you buy or sell, so you can make more money.
- Choice Broking started in 2010, so they’ve been doing this for a long time. That means they know what they’re doing and can help you with your investments.
- You can choose from different groups of stocks grouped based on specific ideas or business areas. This enables you to invest in things you believe in.
- They’ll let you know immediately if something big is happening in the stock market so you can make decisions quickly and not miss out on anything important.
Ventura Securities
Ventura Securities Ltd. is a big name among the top full-service brokerage companies. It was started by an intelligent person named Hemant Majethia in 1994.
Many people know about it because it’s good at what it does. More than 114,000 people invest with them regularly!
What makes Ventura special is that they give excellent services but don’t charge too much, which is great for people who know a lot about investing and those who are just starting out.
Why choose Ventura?
- Opening an account with Ventura is easy and doesn’t cost anything, making it easy for everyone to get started.
- They don’t charge much for transactions, so you can keep more money. For example, when you buy and hold stocks, they only charge you 0.15%, and for trading during the day, it’s just 0.02%.
- The Ventura Wealth App provides updates, many different investment ways, excellent market information, and even helps you keep track of your investments.
- Ventura Pointer, the desktop trading thing, provides real-time updates, enables you to manage your investments, gives you tips about stocks every day, and ensures everything is super safe and secure.
Best Full Service Broker with Most Active Clients
When picking the best full-service brokers for your wealth, looking at how many people trust them is essential.
ICICI Direct is at the top, with over 26 lakh people who use their services. Then there’s HDFC Securities, with more than 11 lakh clients, coming in second.
Motilal Oswal is another trustworthy option, with 9 lakh people relying on it for investing. Sharekhan is also popular, serving around 7.5 lakh active users.
And don’t forget IIFL Securities, which has over 7 lakh clients. So, you have plenty of choices.
Top Full Service Broker with amazing Trading Platforms
In this review of the Top 10 Full-Service Brokers, some broking companies are exceptional.
In India, there are some top ones like Motilal Oswal, Sharekhan, Axis Direct, ICICI Direct, and Geojit. Each of these has something extraordinary about them.
For example, Motilal Oswal’s trading platform is excellent for both new and experienced traders.
Sharekhan’s website and mobile app are fantastic because they offer many reports and tools to help users understand things better. Axis Direct’s Neo platform is easy to use because it’s simple.
ICICI Direct’s platform gives you everything you need for trading, with different types of orders and real-time market info to help you make intelligent choices.
Geojit’s platform is solid, too, and they even offer resources to help you learn more about trading.
Top 10 Full Service Brokers with Competitive Brokerage and Other Charges
Understanding how much it costs to use full-service brokers in India is essential to making money.
Some well-known brokerage firms, such as ICICI Direct, Geojit, Motilal Oswal, Choice Broking, and Sharekhan, are good at this.
For example, ICICI Direct charges Rs. 300 annually to keep your account open. They don’t charge anything to open your account, and when you buy or sell stocks to keep them long-term (delivery), they take 0.27% of the money you spend.
If you’re trading stocks quickly (intraday), they charge Rs. 20 per trade. Similarly, Motilal Oswal doesn’t charge anything for keeping your account open either, and they also charge Rs.300 each year.
Long-term investments take 0.20% of the money you spend, and it’s 0.02% for quick trades.
Sharekhan gives you the first year free to keep your account open. When you buy or sell stocks for the long term, they take 0.30% of the money. For quick trades, it’s 0.02%.
Geojit also charges nothing to keep your account open; the same applies for the first year. When you buy or sell stocks for the long term, they take 0.3% of the money. For quick trades, it’s Rs.20 per trade.
Choice Broking also gives you free for the first year. When you buy or sell stocks for the long term, they take 0.2% of the money. For quick trades, it’s 0.02%.
Best Full Service Brokers in India with Massive Product Range
Let’s unwrap the best full-service brokers in India with a massive product range.
Starting with ICICI Direct, which provides equities (Indian and US), ETFs, IPOs, and fractional shares, they also offer derivative products like futures and options, depending on their current offerings.
The second popular name is SBI Securities, which deals in ETFs, IPOs, and mutual funds. Axis Direct’s product offering is diverse, offering equities such as ETFs, IPOs, currency trading, and more.
Similarly, Motilal Oswal lets you trade and invest in equities (Indian and global), ETFs, and IPOs, and their research reports aid investment decisions.
Who is a full-service broker?
The term “full-service broker” refers to a broker who provides complete solutions in the investment market.
These brokers may even offer a wide range of services while catering to clients beyond executing buy-and-sell orders.
Unlike discount brokers, who typically offer limited services and lower fees, full-service brokers offer different subscription plans, providing more personalized service to clients.
They may have dedicated financial advisors or investment professionals who work closely with clients to develop tailored investment strategies.
Benefits of a Full-Service Broker
Here are some significant benefits provided by full-service brokers in India.
- Full-service brokers in India are most helpful to investors who desire intensive support and advice in their trading activities. These brokers develop personalized recommenders based on an individual’s risk tolerance, goals, and trading horizon.
- Furthermore, they differentiate themselves by analyzing securities, reports, and exclusive research tools that help keep clients informed and updated on potential investment opportunities.
- Full-service brokers also provide an extensive range of products and services from which clients can diversify and align their portfolios according to their financial prospects.
- Additionally, full-service brokers also provide interaction support to clients through financial advisors.
Best Full Service Broker in India – Conclusion
There are a few things to consider when looking for the best full-service brokers.
You’ll want to check out things like if they give you personal advice, have good research tools, offer lots of different ways to invest, and have friendly people to help you if you need it.
The review talks about the top 10 full-service brokers so you can see which one might be best for you. Look at each broker separately to see if it matches your needs.
Also, remember to see how much they charge and what they offer so you know you’re getting a good deal.
FAQs on Best Full Service Broker in India
Below is the list of brokers related to full-service brokers.
Which is the Top Full Service Broker in India?
Having more than two decades of experience, ICICI Direct is doing great as a top Service Broker in India.
Which is the Best Online Full-Service Broker?
Motilal Oswal has a full-fledged online presence and is working at its full potential as a full-service broker.
Which is the Top Full Service Broker for Beginners?
IIFL Securities is the top full-service broker that offers the perfect interface at budgeted prices.
Which Top 3 Full-Service Broker for Traders?
The traders can trade in HDFC Securities, Motilal Oswal, and Sharekhan.
Which Full-Service Broker is Best for Investors?
HDFC Securities is perfect for investors who are opting for long-term as well as short-term investments.
Which Full-Service Broker is Best for IPO?
SBI securities are perfect for offering IPOs in the industry.
Which is the Top 5 full-service broker for MF Investment?
The top five full-service brokers that will help you diversify your investments in mutual funds are ICICI Direct, IIFL Securities, Motilal Oswal, Geojit, and Choice Broking.
Which is the Top 5 Full Service broker in India?
India’s top five discount brokers are ICICI Direct, Motilal Oswal, Sharekhan, HDFC Securities, and IIFL Securities.
Which Full-Service Broker provides top services?
Sharekhan, IIFL Securities, and Motilal Oswal offer top services, and the customer care department is also fully equipped to address client queries.
Which Full full-service broker offers impressive products?
HDFC Securities, ICICI Direct, and SBI Securities offer upgraded dashboards and products so that users can choose according to their requirements.