15 Biggest Stockbrokers in India With Highest Active Clients!

by | Jul 11, 2021 | Online Brokers | 15 comments
List of Biggest Stockbrokers in India (Updated: July 2021) In this article, we are going to look at the 15 Biggest Stockbrokers in India based on their total number of unique active clients.
There are over three hundred stockbrokers in India registered with SEBI and different stock exchanges. Even on National Stock Exchange (NSE), there are 314 registered stockbrokers in India (including defaulters or expelled) as of 30th June, 2021. When you are looking for the best stock broker to open your demat and trading account, one of the most straightforward factors to look into is its total number of active clients. Although a large client base doesn’t guarantee a better service, however, being a big firm, it reduces the possibility of the brokerage firm disappearing or running out of the service soon enough. 
These days, one and all stockbrokers will argue that they are trustworthy as they are registered with SEBI. However, just because they are registered with SEBI doesn’t make them reliable for the long term. Time and again, a lot of such small brokers are either expelled out of the exchange or simply go out of the business and file for bankruptcy. And this leads to a lot of trouble for their current clients.
Therefore, a safer option for the customers to avoid any such kind of inconvenience is by opening their trading account with the biggest stockbrokers in the Industry.
Several websites rank stockbrokers in India based on different factors like their brand value, trading platforms, customer services, facilities offered, complaint ratio, etc. However, in this article, we are not going to look into these factors. 
Here, we are going to look at just one factor, i.e. the total number of unique active clients for that stockbroker. In this post, the stockbroker with the highest number of clients is ranked first, followed by the subsequent stockbrokers with top active clients. 
For this approach, we are going to use the data available on the NSE India website. The national stock exchange website provides the details of the monthly total number of unique clients of the different stockbrokers registered with it. Here’s a quick link to the page. You can also download the spreadsheet available on this page to analyze the stockbrokers further. 
Here are the 15 Biggest Stockbrokers in India based on the total number of unique active clients:
Please note that the total number of active clients of all stockbrokers is 1,88,93,832 (1.89 Cr) as of 30 June 2021, mentioned on the NSE India website.
From the above table, you can quickly notice that Zerodha is the biggest stockbroker with the highest numbers of unique clients registered on the National stock exchange in India. 
As of 30th June 2021, Zerodha constitutes around 19.06% of the total market share of the active clients registered on the National Stock Exchange. It has over 36.02 lakh active customers compared to a total of over 1.89 Crore active clients of all stockbrokers on the NSE.
What makes this list even more interesting is that Zerodha which got a unicorn startup status in 2020, was just founded in 2010 and still has been able to outrank all the old and well-matured traditional brokers. Anyways, other discount brokers like RKSV Securities (Upstox), Angel Broking, 5Paisa, and Groww (NextBillion Technologies) have also made into the top ten stockbrokers in India as per the number of active clients.  
Also read: Zerodha Review –Discount Broker in India | Brokerage, Trading Platform & More
According to the above table, Zerodha is followed by Upstox, which ranks second and has over 21.4 lakhs unique clients and holds 11.33% of the market share. 
The other most prominent stockbrokers in this list are ICICI Securities (15.80 lakh clients), Angel Broking (15.64 lakh clients), HDFC Securities (9.57 Lakh clients), 5Paisa (8.70 lakh clients), Groww (7.80 lakh clients), Kotak Securities (7.43 lakh clients), Sharekhan (6.79 lakh clients), and Motilal Oswal Group (5.64 lakh clients). Together these 15 biggest stockbrokers constitute over 78.95% of the total share of the unique clients registered on NSE.
Further, Upstox (RKSV Securities) and Groww (Next Billion Technologies) have been climbing the ranks fastly compared to the other stock brokers. Groww has moved from 9th to 7th position in the last three months by defeating Kotak Securities and Sharekhan in terms of total numbers of active clients on NSE. On the other hand, Upstox has safely secured its second position with more than 5.5 lakh active clients compared to ICICI securities that hold the third rank in this list.
Also read: Compare Online broker in India – Stockbrokers list
Here is a list of the ‘Next’ 15 biggest stockbrokers in India with the highest active clients registered on the National stock exchange as of 30th June, 2021.
That’s all for this article. I hope this list of 15 Biggest Stockbrokers in India with highest Active Clients was helpful to you. Further, please comment below which brokerage firm you’re using for trading in the Indian stock market and your review for the same. Happy investing!
Hi, I am Kritesh (Tweet me here), an NSE Certified Equity Fundamental Analyst and an electrical engineer (NIT Warangal) by qualification. I have a passion for stocks and have spent my last 4+ years learning, investing and educating people about stock market investing. And so, I am delighted to share my learnings with you. #HappyInvesting
great information to impressed, thanks for sharing with us
Can you please share the NSE handbook from which you arrived at the total active accounts ?
Hi Kunjal. Here’s the link to the report published on NSE website: https://www1.nseindia.com/invest/content/arbitration_reports/report_1c_2018_19.htm
Thanks for this useful information
Nice information sir, much appreciated
which trading website/app with lowest brokerage.
On the site of Motilal Oswal Financial Services, it was written free joining fee and free lifetime AMC for that day. I registered my account, filled all details and uploaded my documents. The next day I received a call from an executive of Motilal Oswal Financial Services that my account is still not activated and he needs OTP sent on my mobile number to activate my account. I confirmed again if Lifetime AMC is free and he said Yes. I gave him the OTPs he needed afterwards. But after my account got activated, the executive asked me what i was asking about AMC. I told him again if AMC is free. At that time he started saying that i have to buy value added pack and then brokerage will be lowered and that AMC is free for only first year. I told him i do not want the account and I am not willing to pay AMC as i am already trading on other website. He said he would call me later but did not call me afterwards. I received an email that my account had been processed and activated. This is really not something you can expect from such reputed company. They told me lies to get my to open an account and later refused to keep up their promise. I want my promise to be fulfilled or my account to be closed.
Account id – EMUM058222
What about 5paisa how is it?
Never beleive in discount brokers,
Try with Full time service
Is profitmart securities a registered broker ? What do the reports say about it ?
Kindly Provide the information about taking a sub franchise in this big companies
What is the procedure to withdraw money from the algo trading account
The Kotak Securities free trade plan is very beneficial to an intraday trader like me. I can conduct unlimited day trades without paying any brokerage. Also, I could open a free demat account. I am having the best trading experience with Kotak Securities.
It’s a good suggestion for new investors in the share market in India. We are one of the top share market brokers offer the lowest brokerage trading charges in India.
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