Full-Service stockbrokers have been there in the Indian stock broking landscape for over 30 years now. Full-service brokers do more than just letting their clients buy and sell stocks across indices. Their involvement includes the end to end services, including overall financial planning along with stock trading or investing.
The biggest USP (Unique Selling Point) of full-service stockbrokers is that they provide the client’s complete hand-holding when it comes to market research, Intra-day tips, company reports, trends and more.
What Full-Service Stock Brokers Provide?
Full-Service stockbrokers have PAN India presence since a lot of their clients tend to need assistance in offline ways. Thus, if you are looking to have face to face discussions and regular communications with local sub-brokers, Full-Service stockbrokers got it all covered in that aspect.
As mentioned above, Full-service stock brokers provide their clients with Market reports, company results, trading tips, trend analysis on a timely basis as per the client’s portfolio and requirements. Thus, if you are someone, who needs some hand-holding when it comes to understanding on the latest trends and suitable advice – then full-service stock brokers are perfect for you.
At the same time, since Full-service stockbrokers have their own highly qualified research teams, they can help you better during turbulent times with sound judgement in handling your investments.
Most of the times Full-service stock brokers assign a relationship manager or an account executive for each client, providing individual attention to each portfolio with a check on its growth. Clients can get regular advice from their account executive around what works best for them not it just the short term but also long-term financial goals.
Full-service stock brokers offer an array of financial segments for their clients to trade or invest, unlike discount brokers who generally don’t have access to all trading instruments such as Commodity, IPOs, Mutual funds etc.
What Full Service Stock Brokers DO NOT Provide?
Brokerage: With all different services Full-Service brokers provide, the brokerage charges are relatively higher as compared to discount brokers. These charges are generally a specific percentage of the value of the trade transaction and it varies depending on the trading segment.
Although there are few exceptions, most of the full-service brokers are dependent on the trading platforms provided by NSE or Omensys. Thus, relatively less innovation in trading platforms has been seen with full-service brokers.
Since a bigger chunk of their regular operations are offline in nature and are handled by franchises or sub-brokers, there has been less focus in developing sound ways of online customer service which works aptly for tech-savvy clients.
It has been heard that as full-service brokers employ a full-time sales calling team, at times, they might advise you to buy or sell stocks to fulfil their monthly targets. This practice is called Churning and overdoing it will directly impact client’s financial growth and overall goals.
All said and done, make sure you understand the specific expectations you have from your broker. If you have been able to narrow down that list, then it becomes much easier to choose the type of broker you like to go ahead with. At the same time, it will also help to decide which exact broker works the best for you within that particular broker type.
Experts advise that in case you cannot handle your financial decisions on your own and need some advice on market trends. At the same time, you are not tech savvy or prefer some a humane tough when it comes to trading, go ahead with full-service stock brokers. Here, we have compiled a list of all top Full-Service stock brokers in India with the aspects that make them a good choice for you.
Top Full Service Stock Brokers In India
Sharekhanis the 2nd biggest stock broker in India with around 6.5% market share and around 12,00,000 clients. Founded in the year 2000, Sharekhan today has a network of more than 2300 sub-brokers and franchises across 575 cities of the country. It has some unique offerings in its brokerage plans both in pre-paid and postpaid terms.
Check the complete review of Sharekhan here. Also check review in Hindi here.
IIFL or India Infoline is majorly known for its huge offline coverage with around 4000 locations across 900 cities of India along with presence outside India as well. Started in the year 1995, India Infoline offers different brokerage plans based on the client’s risk appetite and trading budget. This gives a lot of flexibility to the clients to choose and pay brokerage as per their own trading behaviour.
Check the complete review of India Infoline (IIFL) here. Also check review in Hindi here.
ICICI Directis a top stockbroking house in the country, enjoying a good amount of trust factor gained by its parent banking services company. One of the top USPs of ICICI Direct is the 3-in-1 account which provides huge convenience to clients when it comes to funds transfers. Although there are way too many reasons that make ICICI Direct one of the top stockbrokers, its brokerage charges are relatively much higher as compared to other stock brokers in India.
Angel Broking is an oldie in the Indian stock broking scene with its inception way back in 1987. Today, it has a client base of 10,00,000 across 900 cities of the country. Its majorly known for its recently launched Robo advisory services, ARQ which is an investment engine for clients providing them with personalized recommendations and stock tips. At the same time, it boasts of some of the top tech trading platforms such as Angel Eye and Angel Broking mobile app.
Check the complete review of Angel Broking here. Also check review in Hindi here.
HDFC Securities also provides a 3-in-1 account to its clients due to its presence in banking services. It boasts of highly flexible and seamless trading platforms across devices including a trading terminal Blink. Although, the concerning part in this is that HDFC securities charge its clients for using Blink software for their trading needs. Nonetheless, HDFC Securities has a rare provision of NRI accounts which a lot of stockbrokers don’t provide to its clients.
Check the complete review of HDFC Securities here.
Motilal Oswal started in 1987, is one of the oldest stock broking houses in the country. Although their major focus has been institutional broking in the initial years, however, of late, they have been gradually focusing on retail broking as well. In terms of broking, Motilal is pretty reasonable within full-service stock brokers cohort. Also to mention, Motilal Oswal came up with one of the unique trading platforms – a Trading Smart Watch App.
Geojit BNP Paribas is a leading full-service stockbroking company in India. It was the first broker that launched online trading in the year 2001 and started mobile trading in 2010. Today, it has a presence in more than 500 cities of India and services more than 8,00,000 clients. It acquired Sharekhan in July 2015 for ₹2200 Crore and gained huge jump in stockbroking market share in India.
Check the complete review of Geojit BNP Paribas here.
SMC Global Online is a leading full-service stockbroker based out of New Delhi, India. Established in the year 1994, the full-service broker enjoys presence with more than 50 branches across the country and 2400 sub-broker network. Apart from retail stock broking, SMC Global also provides Wealth Management, DP and Research services. SMC Global also has an international presence across Dubai.
Check the complete review of SMC Global Online here.
Aditya Birla Money, incorporated in 1994, is a full-service broker based out of Chennai. For around 15 years from 1994, the broker was known as Apollo Sindhoori Capital Investments until 2009 when Aditya Birla Group bought 76% of it. From then on, it has been part of the group and is known as Aditya Birla Money instead. Aditya Birla Money has memberships with NSE, BSE, MSEI, MCX and NCDEX.
Check the complete review of Aditya Birla Money here.
Kotak Securitiesis a prominent name in stockbroking space and it definitely leverages its banking services brand equity. Kotak securities offers an array of trading platforms along with lighter versions for internet bandwidth issues. It clocks more than 5 lakh traders every day and has a presence in more than 360 cities of the country with around 1200 branches. Having said that, Kotak securities charges relatively higher brokerage charges across segments.
Check the complete review of Kotak Securities here.
Reliance securities is a trading arm of Reliance Capital and was founded in the year 2005. Based out of Mumbai, Reliance securities (or RSec) claims to have a client base of more than 8 Lakh across 1700 cities of the country. Although not as exhaustively as Zerodha varsity, but Reliance securities has tried to come up with a knowledge repository for beginner traders on its website. It contains detailed information on stock trading jargons and explanation on how market dynamics work.
Check the complete review of Reliance Securities here.
AxisDirect is the stock broking arm of Axis Bank and was established in the year 2005 as a full-service broker. With around 73 branches across India, AxisDirect is one of the evolving stockbrokers in the offline space. Furthermore, AxisDirect also enjoys one of the highest active clients in the stockbroking space in India. Being a subsidiary of Axis Bank, AxisDirect allows its clients to open a 3 in 1 Demat account which takes away all the hassles of fund transfers.
Check the complete review of AxisDirect here. Also check review in Hindi here.
Edelweiss Broking services limited is part of Edelweiss group, a leading financial services company that provides a range of products and services to its clients across Institutional, retail and corporations. With an employee strength of around 6200, Edelweiss has a client base of around 9 lakhs serving across 237 locations in 120+ cities of India. In the recent past, Edelweiss acquired J.P. Morgan asset management company in March 2016 thus widening its coverage and hold in the commodities segment.
Check the complete review of Edelweiss Broking here.
Karvy Online began its operations way back in the year 1985 with a major focus on institutional and corporate investments. However, with maturity in the market and consumer mindset, it has slowly moved into the retail broking space as well. It is known to improvise and innovate a lot around customer service especially due to its online features such as Ask the Experts and Live Chat with Experts. This helps the clients a lot in making sound judgement around managing their portfolio.
Ventura Securitiesis one of the most economical Full-Service stock broker in India charging as less as 0.03% for intra-day transactions. Another aspect in terms of cost is that Ventura securities provides a lifetime free trading account to its clients. Having said that, they have a provision of a minimum brokerage charge on a yearly basis once you open an account with them (suggest to check with the customer support team for more on that).
Check the complete review of Ventura Securities here.
Religare Securitiesis a subsidiary of Religare Enterprises Limited. Today, Religare securities serves 8,00,000 clients with a presence in more than 500 locations in the country. Religare Securities also provides few unique services such as TIN & PAN facilitation at select branches and also works as NSDL-appointed enrolment agency for Aadhaar UID. One amazing feature of Religare Securities is that clients get interest on the unused amount in their trading accounts if they use Religare for their trading needs.
Check the complete review of Religare Securities here.
Nirmal Banghas a presence in more than 350 cities of the country with around 2000 franchises. It also offers a monthly trading based magazine ‘Beyond Markets for free for customer education.It offers zero cost demat and trading account with brokerage as low as 0.02% for intra-day and commodity at 0.01%. One good part about Nirmal Bang is that it provides call and trade facility free of cost unlike any of the stockbrokers in India.
Anand Rathi is full-service broker based out of Mumbai with a presence in more than 1200 locations including Dubai. Set up in 1994, Anand rathi has something to offer for its Institutional, Retail as well as for High net worth Individuals. As per latest numbers of January 2017, Anand Rathi employs a workforce of 2500 people and a client base of around 60,000.
TradeBulls is a full-service stockbroker based out of Mumbai and charges a very nominal 0.2% for Equity delivery and 0.02% for intraday. The broker needs to work on the performance of its trading platforms to go along with better customer service.
Arihant Capital is a full-service stockbroker based out of Mumbai that was incorporated back in 1992. Arihant Capital has a presence in around 110 cities of the country with close to 700 branches. With a client base of around 1.15 Lakhs in India, Arihant Capital has memberships running with BSE, NSE, NCDEX, MCX and MCX-SX. Arihant capital has also created a repository around trading education with tutorials for beginner clients.
Check the complete review of Arihant Capital Markets here.
LKP Securities is a full-service stockbroker based out of Mumbai and has a presence in more than 2300 locations across 200 cities of India. Started as a securities brokerage house in 1948, LKP Securities is a listed public company that posted a net worth of ₹158 Crore for the FY 2016-17. LKP Securities has memberships with NSE, BSE, MCX-SX, NCDX and DGCX (Dubai) and allows its clients to trade across multiple segments.
Bonanza Online is one of the prominent full-service broking houses in India with presence in 560 cities of India in around 1800 outlets (franchises and sub-broker partners). Bonanza online provides a 3-in-1 account to its clients in partnership with few national banks. It has a membership with different segment indices such as NSE, BSE, MCX, MCX – SX, ICEX, USE along with the affiliation from NDSL and CDSL.
BMA Wealth creators is a full-service broker based out of Kolkata with its corporate office in Mumbai. This broker is more than 15 years old and has a coverage through 42 branches and 7000 business partners or franchises across India. BMA Wealth has a membership with NSE, BSE, NCDEX and MCX and has a client base of over 1,000,000 across the country.
Check the complete review of BMA Wealth Creators here.