Synopsis: As of 28 February 2026, India has over 4,943 registered stock brokers. The top five brokers control nearly 66.86% market share. Here is a complete comparison of the largest stock brokers in India based on active clients, market share, ratings, and brokerage charges.
Largest Stock Brokers in India 2026 – Overview
As of 28 February 2026, India has more than 4,943 SEBI-registered brokers. However, market concentration remains high, with the top five players holding nearly 66.86% market share.
Below is a comparison of the biggest stock brokers in India based on active client base and ratings.
Top Stock Brokers in India – Market Share & Active Clients
| Broker | Active Clients | Market Share (%) | Rating (10) |
|---|---|---|---|
| Groww | 1,24,80,505 | 27.66% | 9.85 |
| Zerodha | 68,62,233 | 15.21% | 9.55 |
| Angel One | 67,45,594 | 14.95% | 9.45 |
| ICICIdirect | 20,45,086 | 4.53% | 9.00 |
| Upstox | 20,36,413 | 4.51% | 8.57 |
| HDFC Securities | 14,29,785 | 3.17% | 8.40 |
| Kotak Securities | 13,68,501 | 3.03% | 8.35 |
| SBICAP Securities | 11,42,868 | 2.53% | 8.30 |
| Dhan | 9,99,144 | 2.21% | 8.75 |
| Motilal Oswal | 9,04,002 | 2.00% | 8.95 |
#1 Groww – Biggest Stock Broker in India
- Active Clients: 1,24,80,505
- Market Share: 27.66%
- Rating: 9.85/10
- Account Opening: Zero
- AMC: Zero
- Brokerage: Rs. 20 per order or 0.1% (whichever lower)
#2 Zerodha
- Active Clients: 68,62,233
- Market Share: 15.21%
- Rating: 9.55/10
- Delivery Brokerage: Zero
- Intraday & F&O: Rs. 20 per order or 0.03%
- Demat AMC: Based on holding value slabs
#3 Angel One
- Active Clients: 67,45,594
- Market Share: 14.95%
- Rating: 9.45/10
- Intro Offer: Rs. 0 brokerage up to Rs. 500 for 30 days
- Standard Brokerage: Rs. 20 per executed order
#4 ICICIdirect
- Active Clients: 20,45,086
- Market Share: 4.53%
- Rating: 9/10
- Plans: Prime Plan, iValue Plan, MoneySaver Plan
- Flat Brokerage (iValue): Rs. 20 per order
#5 Upstox
- Active Clients: 20,36,413
- Market Share: 4.51%
- Rating: 8.57/10
- Delivery Brokerage: Rs. 20 per order
- Intraday: Lower of Rs. 20 or 0.1%
Other Leading Brokers
- BlinkX by JM Financial: Zero-brokerage subscription plans starting from Rs. 249
- Dhan: Zero AMC, flat Rs. 20 F&O brokerage
- HDFC Securities: Delivery up to 0.50%
- Kotak Securities: Multiple brokerage plans
- SBICAP Securities: Plan-based brokerage starting from Rs. 499
- Motilal Oswal: 0.20% delivery, Rs. 20 per lot options
Frequently Asked Questions
- Largest Broker in 2026: Groww
- Best Traditional Broker: ICICIdirect
- Fastest Growing Broker: Angel One
- Most Affordable: BlinkX subscription plans
- Groww Market Share: 27.66%
📌 Key Takeaway
India’s brokerage industry is highly concentrated, with the top five players controlling nearly 67% market share. Groww leads with the highest active client base, while Zerodha and Angel One remain strong competitors. Investors should compare brokerage costs, platform features, and service quality before opening an account.