In a circular dated March 17th, National Securities Clearing Corporation Limited (NSCCL) has declared Ficus Securities Private Ltd, a Delhi based broker as a defaulter. This once again goes to show the risks of trading with very small brokers.
Fellow traders and investors,
Here is the latest list of active users as per National stock exchange data. An active client is considered as someone who has traded at least once a year. Total active clients as per is 71,44,965, that is how many people have traded at least once a year on NSE. I am guessing the unique number of people will be much lesser than that (if I have traded with 2 brokers, it will show me as active with both brokers).
Make sure to check out the financial health of broking firm you are trading with on our website.
|ICICI SECURITIES LIMITED||713017||ASTHA CREDIT & SECURITIES (P) LTD||4512|
|HDFC SECURITIES LTD.||516545||DALAL & BROACHA STOCK BROKING PVT. LTD||4333|
|SHAREKHAN LTD.||454167||PROFITMART SECURITIES PRIVATE LIMITED||4208|
|ZERODHA||332190||PEERLESS SECURITIES LIMITED||4157|
|AXIS SECURITIES LIMITED||330923||ARHAM SHARE CONSULTANTS PRIVATE LIMITED||4063|
|KOTAK SECURITIES LTD.||321496||TRADESWIFT BROKING PRIVATE LIMITED||3978|
|ANGEL BROKING PRIVATE LIMITED||306541||C.D. EQUISEARCH PVT. LTD||3939|
|MOTILAL OSWAL SECURITIES LTD.||262486||ZUARI INVESTMENTS LTD.||3592|
|KARVY STOCK BROKING LTD.||211679||C D INTEGRATED SERVICES LTD.||3585|
|INDIA INFOLINE LTD.||204437||FORTUNE CAPITAL SERVICES PRIVATE LIMITED||3418|
|SBICAP SECURITIES LIMITED||198556||KAYNET FINANCE LIMITED||3287|
|GEOJIT FINANCIAL SERVICES LIMITED||171016||SATCO CAPITAL MARKETS LIMITED||3212|
|RELIGARE SECURITIES LTD.||133846||DAYCO SECURITIES PVT. LTD.||3193|
|RELIANCE SECURITIES LIMITED||95928||VIKSON SECURITIES PRIVATE LIMITED||3123|
|EDELWEISS BROKING LIMITED||91171||INTEGRATED MASTER SECURITIES PVT. LTD.||2992|
|SMC GLOBAL SECURITIES LTD.||90951||ASHLAR SECURITIES PRIVATE LIMITED||2936|
|NIRMAL BANG SECURITIES PVT. LTD.||85809||ABHIPRA CAPITAL LTD.||2898|
|VENTURA SECURITIES LTD.||76161||JYOTI PORTFOLIO PRIVATE LIMITED||2897|
|ANAND RATHI SHARE AND STOCK BROKERS LIMITED||72343||WEALTH MANTRA LIMITED||2841|
|TRADEBULLS SECURITIES (P) LTD.||58512||ATS SHARE BROKERS PRIVATE LIMITED||2840|
|MONARCH NETWORTH CAPITAL LIMITED||52923||NG RATHI INVESTRADES PRIVATED LIMITED||2804|
|JAINAM SHARE CONSULTANTS PRIVATE LIMITED||46071||MONEYCARE SECURITIES & FINANCIAL SERVICES LTD.||2770|
|INDIABULLS VENTURES LTD.||45996||SHILPA STOCK BROKER PRIVATE LIMITED||2747|
|BONANZA PORTFOLIO LTD.||43089||A C AGARWAL SHARE BROKERS PVT LTD||2711|
|ADITYA BIRLA MONEY LIMITED||42387||KANTILAL CHHAGANLAL SECURITIES PRIVATE LIMITED||2637|
|MASTER CAPITAL SERVICES LIMITED||40556||JUST TRADE SECURITIES LIMITED||2619|
|INTEGRATED ENTERPRISES (INDIA) PRIVATE LIMITED||37675||MULTIPLEX CAPITAL LTD.||2420|
|JM FINANCIAL SERVICES LIMITED||35586||AMBALAL SHARES & STOCKS PRIVATE LIMITED||2375|
|SUSHIL FINANCIAL SERVICES PRIVATE LIMITED||34903||NDA SECURITIES LTD.||2280|
|SHRI PARASRAM HOLDINGS PVT. LTD.||33998||ALMONDZ GLOBAL SECURITIES LTD.||2089|
|JHAVERI SECURITIES LIMITED||33637||BHARAT BHUSHAN EQUITY TRADERS LTD.||2004|
|SHRIRAM INSIGHT SHARE BROKERS LIMITED||30935||MOTISONS SHARES PRIVATE LIMITED||1886|
|IDBI CAPITAL MARKETS & SECURITIES LTD.||30053||RAGHUNANDAN CAPITAL PRIVATE LIMITED||1833|
|RKSV SECURITIES INDIA PRIVATE LIMITED||29035||F6 FINSERVE PRIVATE LIMITED||1789|
|ARIHANT CAPITAL MARKETS LIMITED||28844||CIL SECURITIES LTD.||1764|
|BMA WEALTH CREATORS LIMITED||28537||SUNLIGHT BROKING LLP||1751|
|WAY2WEALTH BROKERS PRIVATE LIMITED||26900||TR CAPITAL LIMITED||1714|
|LKP SECURITIES LTD.||25866||MLB CAPITAL PRIVATE LIMITED||1651|
|GLOBE CAPITAL MARKET LIMITED||24272||SW CAPITAL PRIVATE LIMITED||1650|
|ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD.||24084||ESCORTS SECURITIES LTD.||1634|
|SAMCO SECURITIES LIMITED||23762||AJMERA ASSOCIATES LTD.||1496|
|SWASTIKA INVESTMART LIMITED||22333||FINVASIA SECURITIES PRIVATE LIMITED||1396|
|KIFS TRADE CAPITAL PRIVATE LIMITED||20891||NAKAMICHI SECURITIES LTD||1384|
|ASE CAPITAL MARKETS LTD.||20017||AASMAA SECURITIES PRIVATE LIMITED||1369|
|ALANKIT ASSIGNMENTS LTD.||19722||NARAYAN SECURITIES LIMITED||1328|
|PRABHUDAS LILLADHER PVT. LTD.||17400||BADJATE STOCK AND SHARES PRIVATE LIMITED||1324|
|PRUDENT BROKING SERVICES PRIVATE LIMITED||16668||J M GLOBAL EQUITIES PRIVATE LIMITED||1323|
|SHCIL SERVICES LIMITED||16622||EAST INDIA SECURITIES LTD.||1285|
|ASHIKA STOCK BROKING LTD.||16348||VERACITY FINANCIAL SERVICES PVT LTD||1248|
|VNS FINANCE & CAPITAL SERVICES LTD.||16000||COMPOSITE SECURITIES LTD.||1227|
|INDITRADE CAPITAL LIMITED||15943||ANMOL SHARE BROKING LTD||1222|
|ARCADIA SHARE & STOCK BROKERS PRIVATE LIMITED||15772||FYERS SECURITIES||1211|
|ISE SECURITIES & SERVICES LIMITED||14533||TIPSONS STOCK BROKERS PRIVATE LIMITED||1185|
|5PAISA CAPITAL LIMITED||14271||GROVALUE SECURITIES PVT LTD||1160|
|STEEL CITY SECURITIES LTD.||14224||SKUNG TRADELINK LIMITED||1132|
|INDIANIVESH SECURITIES LTD.||12733||BERKELEY SECURITIES LIMITED||1132|
|PHILLIPCAPITAL (INDIA) PVT. LTD||12438||MAX STOCK BROKING PRIVATE LIMITED||1117|
|TRUSTLINE SECURITIES LIMITED||12220||ARHAM WEALTH MANAGEMENT PVT LTD||1113|
|BGSE FINANCIALS LIMITED||11833||LFS BROKING PRIVATE LIMITED||1031|
|BANSAL FINSTOCK PRIVATE LIMITED||11565||C. M. GOENKA STOCK BROKERS PVT. LTD.||1022|
|CHOICE EQUITY BROKING PRIVATE LIMITED||10929||KUMAR SHARE BROKERS LTD.||943|
|FAIRWEALTH SECURITIES LIMITED||10746||GREENBUCKS SECURITIES PRIVATE LIMITED||914|
|DBFS SECURITIES LIMITED||10684||VARDHAMAN CAPITAL PVT. LTD||899|
|SOUTH ASIAN STOCKS LTD.||10639||BCB BROKERAGE PRIVATE LIMITED||876|
|SSJ FINANCE & SECURITIES PVT. LTD.||10623||JALAN & CO||868|
|ADROIT FINANCIAL SERVICES PRIVATE LIMITED||10421||EDELWEISS SECURITIES LIMITED||778|
|KUNVARJI FINSTOCK PVT. LTD.||10223||FICUS SECURITIES PRIVATE LIMITED||675|
|NJ INDIA INVEST PRIVATE LIMITED||9978||CREDENTIAL STOCK BROKERS LIMITED||601|
|R K GLOBAL SHARES & SECURITIES LIMITED||9901||RR EQUITY BROKERS PVT. LTD.||533|
|MANGAL KESHAV SECURITIES LTD.||9421||ACTION FINANCIAL SERVICES (INDIA) LIMITED||528|
|LSC Securities Limited||8868||DSE FINANCIAL SERVICES LTD.||525|
|GUINESS SECURITIES LIMITED||8770||CPR CAPITAL SERVICES LTD.||516|
|CANARA BANK SECURITIES LIMITED||8745||MSE FINANCIAL SERVICES LTD.||502|
|BP EQUITIES PRIVATE LIMITED||8694||QUANTUM SECURITIES PVT. LTD.||491|
|STANDARD CHARTERED SECURITIES (INDIA) LIMITED||8374||ACHINTYA SECURITIES PRIVATE LIMITED||487|
|INTIME EQUITIES LIMITED||8223||BEST BULL STOCK TRADING||426|
|KISAN RATILAL CHOKSEY SHARES AND SECURITIES PRIVATE LIMTIED||8186||SHIVMANGAL SECURITIES PRIVATE LIMITED||410|
|MICROSEC CAPITAL LIMITED||8057||INDO JATALIA SECURITIES PRIVATE LIMITED||394|
|CAPSTOCKS & SECURITIES (INDIA) PRIVATE LIMITED||7829||PRRSAAR||382|
|MANSUKH SECURITIES & FINANCE LIMITED||7725||PREM SOMANI SHARE BROKERS PVT. LTD.||359|
|B N RATHI SECURITIES LIMITED||7585||RAHUL SINGHAL PORTFOLIO||302|
|ANUGRAH STOCK & BROKING PVT. LTD.||7514||ALTINA SECURITIES PVT. LTD||300|
|RUDRA SHARES & STOCK BROKERS LIMITED||7238||PROFICIENT EQUITIES PRIVATE LIMITED||300|
|JOINDRE CAPITAL SERVICES LTD||7067||INVESTSMART STOCK BROKERS PVT. LTD.||296|
|DESTIMONEY SECURITIES PRIVATE LIMITED||7061||QUANTUM GLOBAL SECURITIES LIMITED||280|
|PACE STOCK BROKING SERVICES PRIVATE LIMITED||6944||I VENTURES CAPITAL PRIVATE LIMITED||279|
|JK SECURITIES PVT. LTD.||6879||AMRUTLEELA EQUITIES PRIVATE LIMITED||215|
|INDBANK MERCHANT BANKING SERVICES LTD.||6737||STOCKS & SECURITIES (BANGALORE) PVT. LTD.||196|
|NAVIA MARKETS LTD.||6672||4A SECURITIES LIMITED||191|
|COIMBATORE CAPITAL LIMITED||6642||ALLIED FINANCIAL SERVICES PVT LTD||174|
|SUNIDHI SECURITIES & FINANCE LIMITED||6625||SODHANI SECURITIES LTD.||164|
|AMRAPALI AADYA TRADING & INVESTMENT PRIVATE LIMITED||6603||REFLECTION INVESTMENTS||147|
|IFCI FINANCIAL SERVICES LIMITED||6513||TRADE CITY SECURITIES PRIVATE LIMITED||129|
|RAJVI STOCK BROKING PRIVATE LIMITED||6377||TRADENEXT SECURITIES LTD||108|
|SPFL SECURITIES LIMITED||6224||CROWN MONEY||73|
|VRISE SECURITIES PRIVATE LIMITED||6219||MUNOTH CAPITAL MARKET LTD||59|
|INVENTURE GROWTH & SECURITIES LIMITED||6178||SHAREWAY SECURITIES LTD.||50|
|INDIRA SECURITIES PRIVATE LIMITED||6022||GOLDEN STOCK BROKERS PRIVATE LIMITED||36|
|MPSE SECURITIES LIMITED||6018||SURYA SHAKTI INDIA FINANCIAL PVT. LTD.||36|
|ELITE WEALTH ADVISORS LIMITED||5669||KORP SECURITIES LTD||34|
|SKSE SECURITIES LTD.||5534||TRADEHIFI STOCK BROKING PRIVATE LIMITED||31|
|WELLWORTH SHARE & STOCK BROKING LIMITED||5378||K DAMANI SECURITIES PRIVATE LIMITED||17|
|CELEBRUS CAPITAL LIMITED||5328||ANGEL SECURITIES LTD||16|
|SYSTEMATIX SHARES & STOCKS (INDIA) LTD.||5242||PRB SECURITIES PRIVATE LTD.||13|
|ACUMEN CAPITAL MARKET (INDIA) LTD||5082||ICICI SECURITIES PRIMARY DEALERSHIP LIMITED||1|
|ALICE BLUE SECURITIES PVT. LTD.||4810||WADHWA SECURITIES LIMITED||1|
|INDUS PORTFOLIO (P) LTD||4795||AXIS BANK LTD.||1|
|PROGRESSIVE SHARE BROKERS PRIVATE LIMITED||4521||KOTAK MAHINDRA BANK LTD.||1|
About Interactive Brokers.
Interactive Brokers conducts its broker/dealer and proprietary trading businesses on over 100 market destinations worldwide. In its broker dealer agency business, IB provides online trade execution and clearing services to institutional and professional traders for a wide variety of electronically traded products including stocks, options, futures, forex, bonds, CFDs and funds worldwide
IB recently slashed the brokerage charges in India and the new pricing is in line with other leading discount brokers of the country.
Compare Brokerages had an interaction with IB and were able to ask pertinent questions on behalf of the Indian Investor. Hope you find the Q&A helpful in choosing your next broker.
1. How does an Indian citizen open an account with you?
An Indian citizen can open an account with Interactive Brokers for trading on
Indian and overseas markets (120 markets across 24 countries). One account is
opened with Interactive Brokers LLC that provides them access to a cash account
and allows them to purchase equities and Exchange Traded Funds around the
world. The other account is opened with Interactive Brokers (India) Pvt Ltd and
allows them to have access to the National Stock Exchange of India (NSE) to trade
stocks, options, futures and currency futures. The process to open the global
markets account is 100% online. You need to complete an online application and
submit scans of your pan card and address proof. The local markets application is
also filled out online. In addition, clients sign some physical documents.
2. What are all the exchanges/ segments one can trade on your platform?
Global – 120 markets across 24 countries for stocks and ETFs.
See the exchange list here.
India – NSE for trading on stocks, futures, options, currency futures.
See the product list here.
3. Is there any charge to open an account with Interactive Brokers?
4. What is usually the time taken to open an account?
For global markets anywhere between 1-3 business days. For local Indian
markets, anywhere between 5-8 days.
5. Is there any Annual Maintenance Charge?
Monthly minimum activity fee of US$ 10 for global markets, waived for those
whose account sizes are more than US$ 100K and waived for all clients for the
first three months.
Monthly minimum activity fee of INR 200 for Indian markets, waived for those
whose account sizes are more than INR 10 lakhs and waived for all clients for the
first three months.
6. Do you provide margin funding? Can one pledge shares for margin?
Yes, on NSE we do provide margin funding for stocks as per SEBI regulations.
7. How does Fund transfer/ Withdrawal work? What is the time taken for the
Global – International Wire Transfer under the Reserve Bank of India’s liberalised
remittance scheme, which allows every Indian resident to wire up to US$ 250,000
per financial year (This is subject to change by the RBI).
India – Cheque / NEFT / RTGS – Time to arrive is from 1 – 4 business days.
8. How big is your team in India?
Interactive Brokers has more than 65 employees based in India. Interactive
Brokers Group employs more than 1,000 people globally.
9. What channels of are available?
Our customer support number and details of support services are available here.
Interactive Brokers offers 24-hour weekday customer service via regional Client
Services located around the world. In addition to a wide range of answers
available online, we offer client services via phone, chat, email, fax, mail.
10. What platform and tools will be available for our Indian users? Is there a demo
Our platform and tools are available here.
Interactive Brokers offers the web trader, mobile trader and Trader Workstation
(TWS), a global trading system which let you use a suite of online trading tools.
A free trial is available here.
There is no commitment and you can use the free trial for as long as you want.
11. Is there any charge for data on your platform or any charge associated with
One of the things that sets Interactive Brokers apart is the broad range of
technology and tools the company provides for free. IB also offers information
from numerous research and news services at no cost.
A list of free research and news services can be viewed here
IB also provides other information sources via subscriptions.
Those can be viewed here.
For those that trade the NSE, there is currently no charge for NSE data.
12. Since your primary market has been institutional sales, how does IB plan to
pivot towards attracting retail participants?
We have been building online trading technology for more than 40 years and
provide competitive pricing, a broad global product line, and advanced trading
tools for our clients. Our new, lost cost pricing for the Indian markets world class
technology and breadth of products, is attractive to retail participants. As we do
globally, we believe that our customers will bring in more customers in India as
13. At comparebrokerages we publish the financials of brokers so that our
customers are aware of the financial health of a broker – IB financials show that
they have a very active prop trading, with over 100 crores in profits. Curious to know who is trading, are these through traders in India or abroad? and finally,
does this put risk to retail clients?
Interactive Brokers June 2016 metrics and other financial information can be
We do not comment specifically on our proprietary trading business.
As you are aware, most brokers in India have their proprietary trading along with
client trading. SEBI has already set regulations protecting the clients’ interest and
we respectfully comply with them. We can say that is there is a clear segregation
of proprietary and client trading activities.
Fellow traders and investors,
Find the latest list of active users as per National stock exchange data. Active client is considered as someone who has traded atleast once a year. Total active clients as per is 59,51,301, that is how many people have traded atleast once a year on NSE. I am guessing the unique number of people will be much lesser than that (if I have traded with 2 brokers, it will show me as active with both brokers).
Make sure to check out the financial health of broking firm you are trading with on our website.
|Top 20 brokers in India|
|ICICI SECURITIES LIMITED||631388||Top 3 full service brokers|
|HDFC SECURITIES LTD.||487418|
|SHAREKHAN LTD.||375394||ICICI SECURITIES LIMITED||631388|
|KOTAK SECURITIES LTD.||279305||HDFC SECURITIES LTD.||487418|
|AXIS SECURITIES LIMITED||269133||SHAREKHAN LTD.||375394|
|ANGEL BROKING PRIVATE LIMITED||238998|
|MOTILAL OSWAL SECURITIES LTD.||212617|
|INDIA INFOLINE LTD.||196904|
|KARVY STOCK BROKING LTD.||184349||Top 3 discount brokers|
|SBICAP SECURITIES LIMITED||172763||Zerodha||182379|
|GEOJIT BNP PARIBAS FINANCIAL SERVICES LIMITED||160732||SAMCO SECURITIES LIMITED||18986|
|RELIGARE SECURITIES LTD.||122568||RKSV SECURITIES INDIA PRIVATE LIMITED||18577|
|RELIANCE SECURITIES LIMITED||81505|
|EDELWEISS BROKING LIMITED||76387|
|SMC GLOBAL SECURITIES LTD.||75787|
|NIRMAL BANG SECURITIES PVT. LTD.||74004|
|VENTURA SECURITIES LTD.||69587|
5 Paisa, part of the IIFL group is an online financial services provider. It offers broking services, mutual funds, and insurance on its platform. It offers trading in equities and derivatives, it doesn’t offer commodities.
The main selling point of 5 Paisa is that they offer all financial products on their platform.
Check out the detailed margins here. Almost all the established discount brokers provide margin and brokerage calculator tools but 5 paisa does not. This is negative a because the problem of transparency that plagues traditional brokers remains.
- Up to 15 Times margin for Intraday & 5 Times for Delivery(Interest charged)
- Up to 2 Times for Intraday in Futures
- Up to 2 Times for Intraday in option (Only on selling side)
5 Paisa provides a platform named Trade Station for the Web and desktop. It provides a mobile application for Android.
5 Paisa Trade Station is the flagship platform that it offers. To sum it up this is an extremely disappointing platform considering the fact that 5 Paisa is part of the IIFL group which has been the broking business for decades.
Describing this platform as rudimentary at best would be an overstatement. All it does is offer a set of basic functionalities with nothing in particular worth highlighting.
Charting is pretty much a non-existent feature in 5 Paisa except for a basic line chart. There are not candle charts or indicators. So if you are a trader who got interested because of 5 Paisa’s brokerage, that is the only highlight of it.
The desktop offering of 5 paisa is similar to NEST and offers the basic functionalities. There are no particular highlights as such. The tools seem sluggish and takes a good bit of time to startup. Discovering the functionalities can be irritating. The user experience is terribly unintuitive. If you are a regular trader and depend on using candle charts this is the only platform which offers it along with the mobile app. The charting experience in the desktop tools leaves a lot to be desired.
The mobile application looks decent and provides one-stop access to trading, mutual funds and insurance.
You can create 3 watch lists with 50 stocks each. The application offers basic charting functionality with 4 indicators. The only advantage we could see is that you can access MF’s, insurance and stocks from one place. Although they say that there are no charges for their MF platform, we haven’t explored the hidden side and same goes for insurance.
Where 5 Paisa falls short
5 Paisa tries to offer a whole lot on its platforms with nothing, in particular, being a highlight. The trading platform does not offer any of the things that a regular trader would need.
5 Paisa is suited to the investing and saving crowd who wish to manage all their investments and personal finance obligations from a single login. We wouldn’t recommend 5 Paisa to traders or even investors for that matter because it really doesn’t offer even the basic tools that traders and investors have come to rely on.
- A single dashboard to manage investments and insurance.
- Low brokerage.
- Poor trading platforms
- Charting is extremely poor
- The mobile app has a lot of redirect links, that end up ruining the experience.
Upstox formerly RKSV Securities is India’s second largest discount broker with over 13,000 active clients. Started in 2012 this discount broker is funded by marquee names such as Ratan Tata, Kalaari Capital, and others. It currently contributes to over Rs. 7,000 crores in daily turnover on NSE.
This is an in-depth review of Upstox and its trading platforms. Click Here for the Upstox profile.
Upstox follows has a simple pricing structure. It offers free equity delivery trades and charges a maximum for Rs.20 for equity intraday, F&O, and commodities. Upstox offers a brokerage calculator which makes it easier to calculate the charges.
Pricing Verdict: Upstox much like its bigger peers offers a good deal. Free equity trading will be a good draw for beginners.
Upstox is best suited for:
- Frequent traders
- Mobile users
For equity intraday, Upstox provides margins up to 20x on F&O stocks and up to 2x on other stocks.
It provides margins up to 6X for Intraday futures. It provides up to 4x for selling options and 1X for buying using MIS, bracket and cover orders in intraday.
It provides margins of up to 3X for all commodities.
Upstox provides margins across segments only for intraday and does not provide leverage for equity delivery and overnight positions similar to other discount brokers. There is no indication yet if Upstox will come out with margin funding, but this is the margin policy at present.
Upstox provides a margin calculator to make it easy for traders to calculate their margin requirements.
Upstox provides trading platforms for desktop, web, and mobile.
Upstox Pro Web
Upstox Pro is a web trading platform which was custom developed in-house. It is a lightweight platform with unique widgetized workspaces and advanced charting.
With their latest update, Upstox has introduced workspaces which can customize to users linking with widgets. Sections such a watchlist, charts, books have been made into widgets, which can be placed anywhere in the workspace.
The charting is a breeze in Upstox Pro. There are over 100+ technical indicators and 10 drawing tools. One good feature if you are a regular trader is that you can watch multiple charts side by side.
Since watching charts in a different workspace and switching to another workspace to place an order is not optimal they will soon be launching a feature to place orders from charts.
Upstox Pro is a beautifully designed web platform; largely unimposing for beginners and resourceful for regular traders. It might take a bit of getting used to for beginners, it is not as easy as Zerodha Kite, the most significant competition for Upstox. One potential downside to this widgetized workspace style is that the experience on small screens won’t be the best.
The mobile application follows a similar design scheme as the web version.
But there were some quirky things we noticed in the mobile app. Historical charts are available only in the landscape mode and not In the portrait mode. Constantly switching between two views can ruin the user experience here. Charting is easy and fast on the app and its easy see the amount of work put in by the developers.
Bracket order or OCO (One Cancel The Other) is not available. This can be a deal breaker for people who trade on the go. If you are a mobile user then you will love the app minus the quirks. It also has a tab which shows corporate actions related to the stock and a fundamental tab data with some basic parameters. Apart from these kinks, the mobile app is a decent platform from Upstox compared to clunky, cluttered and outdated apps of other brokers.
Upstox offers NEST desktop tool. NEST can best be described as a reliable workhorse which gets the job done. NEST just provides basic charting, you get 22 days of intraday charts and 1 year of historic charts. On this count, it is a disappointment.
Platforms verdict: While the web and mobile platforms are beautifully designed the desktop tool is a bit of a letdown for hardcore traders.
Upstox recently launched its own MF platform, but disappointingly it is a regular Mutual Funds platform. In the long-run direct mutual funds always give higher returns because of the absence of any intermediaries and the ensuing savings because of that.
Where Upstox falls short
A underwhelming desktop offering is a negative for a brokerage that has built such amazing web platforms.
Upstox still offers regular mutual funds and not direct mutual funds. By investing in regular mutual funds investors pay up to 1.5% upfront and 1% every year for as long as they remain invested which in the long run makes a huge difference.
Upstox is a solid choice with its great suite of platforms and tools. If you are a first-time trader you will most likely be drawn to the beautiful platforms at zero brokerage. Although the web platform is well crafted it takes a bit of getting used to and does not look the best on smaller screens. Overall it doesn’t matter if you are a beginner or an experienced trader if you are looking for a broker Upstox should be in your shortlist.
- Great pricing
- Well crafted platforms
- Tools such a margin and brokerage calculator
- Responsive support and learning resources
- Easy to get started with Aadhar based signup.
- No mutual fund platform yet
- Turnover charges on futures and options is higher than competitors
- The online trading platform doesn’t suit small screens.
Here is a comparison of India’s 3 biggest discount brokers. Compare pricing, active clients, financials and more.
Zerodha is the pioneer of the discount broking concept in India and is the largest discount broker in terms of active clients. It is well known for creative advanced and intuitive platforms and it’s transparency.
Zerodha has very a simple pricing structure. They offer free equity delivery trades and charge a maximum for Rs.20 for intraday equity, F&O, and commodity trades. Their brokerage calculator makes it quite easy to calculate charges; again a concept introduced in the country by Zerodha.
Pricing Verdict: The Zerodha pricing suits everyone; be it a beginner, or a hardcore trader. Free equity trading will be a good draw for beginners.
Zerodha is best suited for:
- Frequent traders
- Mobile users
For equity intraday, Zerodha provides margins up to 20X on F&O stocks and up to 2X on other stocks.
They provide margins up to 2X for intraday futures and shorting options and 1X for buying using MIS, bracket and cover orders in intraday. They provide margins of up to 2X for all commodities.
Zerodha provides margins only for intraday across all segments; none for equity delivery and overnight positions similar to other discount brokers. They’re expected to come out with margin funding soon.
Zerodha also provides a margin calculator to make it easy for traders to calculate their margin requirements. You can use this tool to calculate your comprehensive margin requirements for intraday and delivery/overnight positions.
Zerodha is best known for its intuitive platforms. They offer Kite and online trading platforms, Kite Mobile for Android, Kite Lite for IOS and Pi for the desktop.
Kite is a minimal online trading platform which is easy to use and easy on the eye.
Whether you’re a beginner or a seasoned trader, Kite is the platform for you. It is a pleasure to use it since it is polished and has no clutter whatsoever. You can create multiple watchlists, analyze and compare charts, share them and more. Kite allows you to create 5 market watches and has over 100+ technical indicators. It offers bracket and cover orders which have become common these days but the limit cover order which is available on Pi, the desktop tool, is not available on Kite and the Kite mobile app yet.
Zerodha offers Kite on mobile and it pretty much resembles the web version. Although the app looks beautiful, you get a feeling that it’s still a work in progress. The user experience is a pleasure, no complaints on that front.
Charting is as good as it can be on a mobile device but one feature that regular traders would immediately notice is the absence of charting tools on the app. Lack of push notifications is also a downside because some people tend to get confused with the order status. The app doesn’t allow you to withdraw funds which is a disappointment.
Zerodha offers a desktop tool called Zerodha Pi. Essentially built on top of tried and tested Nest. Pi has an impressive array of features. It offers advanced charting with over 80+ indicators.
Expert advisors: You can code your own strategies in Tradescript and save them in the platform to generate buy and sell signals.
Backtesting: Pi also has a backtesting module to test your strategies.
Pi Bride: You can connect platforms such as Ami Broker, Ninja Trader, Meta Trader etc.
Scanner: Pi also has this handy feature that allows you scan for trading opportunities.
With such unique feature Pi is definitely one of the best desktop platforms in India.
Cons: The biggest drawback we see in Pi is the lack of stability. Users seem to experience niggling issues with the application. This aside Pi is one of the best platforms if you are a hardcore technical trader.
As the saying goes “Know yourself to improve yourself”.
Quant is one of the best platform Zerodha has ever created. It is your personal trading analytics tool which essentially plots all your trades and so that you can learn by analyzing your good and bad trades.
Zerodha recently launched their direct mutual fund’s platforms called Coin. You can now invest in the mutual funds without paying any commissions. The expense ratio is a percentage of the total assets used for managing a fund’s expenses, such as advertising, operational expenses etc. The expense ratios in regular funds will be higher because of the commissions paid t0 the distributors by the AMCs. In the case of a direct fund, you will be dealing directly with the AMC and there won’t be any intermediary involved, so the expense ratios will be lower. In the long run, this translates to higher returns with direct funds.
With Zerodha Coin you can customize your SIP’s, compare funds, do historical analysis etc. You can also have a flexible SIPs wherein you can play pause your periodic investments whenever you want without any hassle.
Where Zerodha falls short
Overall Zerodha is undoubtedly one of the best brokers in India. They seem to have hit a sweet spot in terms the cost and the benefits they offer. Having said there are a few thing missing.
- It is not possible to apply for an IPO directly. Clients have to visit a bank or apply via Applications Supported By Blocked Amount (ASBA).
- Zerodha Q their current back office is a pain to use, it keeps crashing constantly. The good thing is that their CEO has committed to replacing the old system in a couple of months.
- Margin funding is a sorely missed product at present.
The final word
Zerodha being the original pioneer of the discount broking model in India is definitely the real deal. They have hit a sweet spot in terms the cost and the benefits they offer. No other broker is even comparably close when it comes to innovating. It doesn’t matter if you are a beginner or an experienced trader, Zerodha should be at the very top of your shortlist. Their learning initiatives such as Varsity, TradingQnA, and Educate are the only comprehensive initiatives towards investor education in India.
- Great pricing
- Well crafted platforms
- Tools such a margin and brokerage calculator
- Unparalleled learning resources
- No margin funding
- Not possible to apply for an IPO directly
Fellow traders and investors,
Check the recent advise from SEBI to the exchanges, circular from BSE:
As per the communication received from SEBI, regarding leagues/schemes/competitions etc offered by third party or Group Company/associate of stock broker, which may involve distribution of prize monies and advertisements issued in this regard by Stock Brokers, Trading Members are hereby advised to ensure that they shall not carry out advertisements in which celebrities form part of the advertisement.
SEBI has now also put a caution note to all investors, check this release
A. LEAGUES / SCHEMES / COMPETITIONS WHICH MAY INVOLVE DISTRIBUTION OF PRIZE MONIES
It has come to the notice of SEBI that various entities are soliciting investors by offering leagues/schemes/competitions etc. related to securities markets. Some of the schemes may involve distribution of prize monies. Participation in such schemes including sharing of confidential and personal trading data is at investors’ own risk, cost and consequences as such schemes are neither approved nor endorsed by SEBI / SEBI recognized Exchange(s).
SEBI is issuing this caution to investors to warn about such schemes offered by third party or group company/associate of stock broker(s) etc. The investors may note that for any kind of disputes relating to such schemes or enforcement of any agreement / MoU, etc., none of the following recourses will be available to investors of such schemes:
- Benefits of investor protection under SEBI/ Exchange(s) Jurisdiction
- Exchange dispute resolution mechanism
- Investor grievance redressal mechanism administered by Exchange(s)
It is quite clear that these circulars are intended against Indian Trading league (Samco). It is important that all of us investors/traders are aware of the above.
Empowering Indian retail investors/traders,
Fellow traders & investors,
Find following the list of active clients of all the brokerage firms in India – 30th Jun 2016 compared versus 30th Nov 2015. This list is for equity clients only and is available on NSE website.
Active client = 1 trade in that particular financial year.
Visit our website http://comparebrokerages.in/ to compare the popular ones
30th June 2016 30th Nov 2015
|ICICI SECURITIES LIMITED||561235||ICICI SECURITIES LIMITED||567188|
|HDFC SECURITIES LTD.||431292||HDFC SECURITIES LTD.||384736|
|SHAREKHAN LTD.||335063||SHAREKHAN LTD.||341809|
|INDIA INFOLINE LTD.||257260||INDIA INFOLINE LTD.||271383|
|KOTAK SECURITIES LTD.||242259||KOTAK SECURITIES LTD.||261482|
|AXIS SECURITIES LIMITED||200578||KARVY STOCK BROKING LTD.||170130|
|GEOJIT BNP PARIBAS FINANCIAL SERVICES LIMITED||178881||ANGEL BROKING PRIVATE LIMITED||168344|
|ANGEL BROKING PRIVATE LIMITED||177303||MOTILAL OSWAL SECURITIES LTD.||160831|
|MOTILAL OSWAL SECURITIES LTD.||173056||GEOJIT BNP PARIBAS FINANCIAL SERVICES LIMITED||160718|
|KARVY STOCK BROKING LTD.||167299||AXIS SECURITIES LIMITED||146518|
|SBICAP SECURITIES LIMITED||131682||RELIGARE SECURITIES LTD.||124826|
|RELIGARE SECURITIES LTD.||117695||SBICAP SECURITIES LIMITED||122433|
|RELIANCE SECURITIES LIMITED||102790||RELIANCE SECURITIES LIMITED||107613|
|ZERODHA||78180||EDELWEISS BROKING LIMITED||75625|
|EDELWEISS BROKING LIMITED||76730||SMC GLOBAL SECURITIES LTD.||64146|
|SMC GLOBAL SECURITIES LTD.||65102||NIRMAL BANG SECURITIES PVT. LTD.||60366|
|NIRMAL BANG SECURITIES PVT. LTD.||63221||ANAND RATHI SHARE AND STOCK BROKERS LIMITED||58505|
|VENTURA SECURITIES LTD.||61054||VENTURA SECURITIES LTD.||57598|
|ANAND RATHI SHARE AND STOCK BROKERS LIMITED||59457||ZERODHA||46052|
|ADITYA BIRLA MONEY LIMITED||39481||INDIABULLS VENTURES LTD.||40631|
|INDIABULLS VENTURES LTD.||37976||ADITYA BIRLA MONEY LIMITED||40525|
|MARWADI SHARES AND FINANCE LIMITED||36700||BMA WEALTH CREATORS LIMITED||36782|
|NETWORTH STOCK BROKING LTD.||35042||BONANZA PORTFOLIO LTD.||34015|
|BONANZA PORTFOLIO LTD.||33941||INTEGRATED ENTERPRISES (INDIA) LIMITED||33836|
|INTEGRATED ENTERPRISES (INDIA) LIMITED||32994||MASTER CAPITAL SERVICES LIMITED||33012|
|MASTER CAPITAL SERVICES LIMITED||32572||SHRIRAM INSIGHT SHARE BROKERS LIMITED||31400|
|BMA WEALTH CREATORS LIMITED||31174||JM FINANCIAL SERVICES LIMITED||27314|
|SHRIRAM INSIGHT SHARE BROKERS LIMITED||28985||NETWORTH STOCK BROKING LTD.||25024|
|JM FINANCIAL SERVICES LIMITED||28592||EDELWEISS FINANCIAL ADVISORS LIMITED||24512|
|TRADEBULLS SECURITIES (P) LTD.||27364||LKP SECURITIES LTD.||22274|
|SHRI PARASRAM HOLDINGS PVT. LTD.||23662||SHRI PARASRAM HOLDINGS PVT. LTD.||21938|
|IDBI CAPITAL MARKET SERVICES LTD.||21870||IDBI CAPITAL MARKET SERVICES LTD.||21321|
|LKP SECURITIES LTD.||21518||Asit C Mehta||21101|
|JHAVERI SECURITIES LIMITED||20945||GLOBE CAPITAL MARKET LIMITED||20092|
|ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD.||19730||JHAVERI SECURITIES LIMITED||19996|
|GLOBE CAPITAL MARKET LIMITED||19257||EUREKA||18575|
|EUREKA STOCK & SHARE BROKING SERVICES LIMITED||18315||SUSHIL FINANCE||18209|
|ALANKIT ASSIGNMENTS LTD.||16903||ARIHANT CAPITAL MARKETS LIMITED||17948|
|SWASTIKA INVESTMART LIMITED||16533||TRADEBULLS SECURITIES (P) LTD.||17618|
|STEEL CITY SECURITIES LTD.||13971||MONARCH||17062|
|ASHIKA STOCK BROKING LTD.||13540||ALANKIT ASSIGNMENTS LTD.||16721|
|EMKAY GLOBAL FINANCIAL SERVICES LIMITED||13517||TRUSTLINE SECURITIES LIMITED||16459|
|PRABHUDAS LILLADHER PVT. LTD.||12573||WAY2WEALTH BROKERS PRIVATE LIMITED||15795|
|ISE SECURITIES & SERVICES LIMITED||12403||SWASTIKA INVESTMART LIMITED||15113|
|KIFS TRADE CAPITAL PRIVATE LIMITED||12087||STEEL CITY SECURITIES LTD.||15038|
|TRUSTLINE SECURITIES LIMITED||12056||EMKAY||14129|
|ARCADIA SHARE & STOCK BROKERS PRIVATE LIMITED||11714||ASHIKA STOCK BROKING LTD.||14110|
|RKSV SECURITIES INDIA PRIVATE LIMITED||11239||ISE SECURITIES & SERVICES LIMITED||12437|
|SURESH RATHI SECURITIES PRIVATE LIMITED||11220||PRABHUDAS LILLADHER PVT. LTD.||12253|
|SAMCO SECURITIES LIMITED||10842||Janam||11863|
|VNS FINANCE & CAPITAL SERVICES LTD.||10071||Arcadia||11672|
|PHILLIPCAPITAL (INDIA) PVT. LTD||9677||BGSE FINANCIALS LIMITED||11650|
|R K GLOBAL SHARES & SECURITIES LIMITED||9474||INDITRADE CAPITAL LIMITED||11333|
|ASE CAPITAL MARKETS LTD.||9043||KIFS SECURITIES PRIVATE LIMITED||11009|
|INTIME EQUITIES LIMITED||8930||R K GLOBAL SHARES & SECURITIES LIMITED||10356|
|FAIRWEALTH SECURITIES LIMITED||8766||PCS SECURITIES LTD.||10075|
|INDIANIVESH SECURITIES LTD.||8751||RKSV SECURITIES INDIA PRIVATE LIMITED||9842|
|GUINESS SECURITIES LIMITED||8714||FAIRWEALTH SECURITIES LIMITED||9687|
|STANDARD CHARTERED SECURITIES (INDIA) LIMITED||8535||GUINESS SECURITIES LIMITED||9642|
|SHCIL SERVICES LIMITED||8466||PHILLIPCAPITAL (INDIA) PVT. LTD||9632|
|SS CORPORATE SECURITIES LIMITED||8167||STANDARD CHARTERED||9351|
|MONARCH PROJECT & FINMARKETS LIMITED||8057||DBFS SECURITIES LIMITED||9303|
|PRUDENT BROKING SERVICES PRIVATE LIMITED||7972||VNS FINANCE & CAPITAL SERVICES LTD.||9131|
|PACE STOCK BROKING SERVICES PRIVATE LIMITED||7850||SURESH RATHI||8946|
|MANSUKH SECURITIES & FINANCE LIMITED||7850||C.D. EQUISEARCH PVT. LTD||8734|
|MUTHOOT SECURITIES LTD.||6976||DESTIMONEY SECURITIES PRIVATE LIMITED||8724|
|CAPSTOCKS & SECURITIES (INDIA) PRIVATE LIMITED||6951||HEDGE EQUITIES LIMITED||8689|
|LSE SECURITIES LIMITED||6785||SHREE BAHUBALI INTERNATIONAL LTD.||8531|
|LATIN MANHARLAL SECURITIES PVT. LTD.||6706||INTIME EQUITIES LIMITED||8508|
|DESTIMONEY SECURITIES PRIVATE LIMITED||6433||MANSUKH SECURITIES & FINANCE LIMITED||8310|
|C.D. EQUISEARCH PVT. LTD||6418||ADROIT||8173|
|MICROSEC CAPITAL LIMITED||6243||SSJ FINANCE & SECURITIES PVT. LTD.||7942|
|IFCI FINANCIAL SERVICES LIMITED||6154||INDIANIVESH SECURITIES PVT. LTD.||7877|
|AMRAPALI AADYA TRADING & INVESTMENT PRIVATE LIMITED||5734||IFCI FINANCIAL SERVICES LIMITED||7626|
|TATA SECURITIES LIMITED||5610||CAPSTOCKS||7312|
|PEERLESS SECURITIES LIMITED||5312||ASE CAPITAL MARKETS LTD.||7294|
|YES SECURITIES (INDIA) LIMITED||5227||MICROSEC CAPITAL LIMITED||7012|
|KUNVARJI FINSTOCK PVT. LTD.||5170||PACE STOCK BROKING||7000|
|SPFL SECURITIES LIMITED||5161||COIMBATORE CAPITAL LIMITED||6926|
|NAVIA MARKETS LTD.||4432||LSE SECURITIES LIMITED||6852|
|ALICE BLUE SECURITIES||4346||TATA SECURITIES LIMITED||6114|
|CHOICE EQUITY BROKING PRIVATE LIMITED||3917||PRUDENT BROKING||6030|
|ATS SHARE BROKERS PRIVATE LIMITED||3525||MUTHOOT SECURITIES LTD.||5981|
|SATCO CAPITAL MARKETS LIMITED||3153||CONSORTIUM SECURITIES PRIVATE LTD.||5795|
|INVENTURE GROWTH & SECURITIES LIMITED||3045||INDBANK||5740|
|MARFATIA STOCK BROKING PRIVATE LIMITED||3011||PEERLESS SECURITIES LIMITED||5739|
|KAYNET FINANCE LIMITED||2859||SAMCO SECURITIES LIMITED||5697|
|AMBALAL SHARES & STOCKS PRIVATE LIMITED||2822||SYKES & RAY EQUITIES (I) LTD.||5628|
|SHREE KANHA STOCK BROKING PVT. LTD||2775||SOUTH ASIAN STOCKS LTD.||5617|
|NJ INDIA INVEST PRIVATE LIMITED||2684||B N RATHI SECURITIES LIMITED||5593|
|JYOTI PORTFOLIO PRIVATE LIMITED||2675||SPFL SECURITIES LIMITED||5369|
|JUST TRADE SECURITIES LIMITED||2615||ELITE WEALTH ADVISORS LIMITED||5118|
|ASTHA CREDIT & SECURITIES (P) LTD||2469||ATS SHARE BROKERS PRIVATE LIMITED||4942|
|EASTERN FINANCIERS LTD||2366||BANSAL FINSTOCK PRIVATE LIMITED||4717|
|ASHLAR SECURITIES PRIVATE LIMITED||2234||CHOLAMANDALAM SECURITIES LIMITED||4587|
|MODEX INTERNATIONAL SECURITIES LTD.||2057||KUNVARJI FINSTOCK PVT. LTD.||4495|
|NORTHEAST BROKING SERVICES LTD.||2012||ACUMEN CAPITAL MARKET (INDIA) LTD||4460|
|ALMONDZ GLOBAL SECURITIES LTD.||1741||SYSTEMATIX||4448|
|MULTIPLEX CAPITAL LTD.||1710||AMRAPALI AADYA||4438|
|CIL SECURITIES LTD.||1550||SKP SECURITIES LTD.||4424|
|KALPATARU MULTIPLIER LTD.||1531||MATALIA STOCK BROKING PVT. LTD.||4336|
|ANKIT SECURITIES & FINANCE COMPANY PRIVATE LIMITED||1483||INDIRA SECURITIES PRIVATE LIMITED||4287|
|COMPOSITE INVESTMENTS PRIVATE LIMITED||1466||NAVIA MARKETS LTD.||4060|
|F6 FINSERVE PRIVATE LIMITED||1454||ALICE BLUE SECURITIES||4050|
|PSB SECURITIES LIMITED||1407||EXCLUSIVE SECURITIES LTD.||3911|
|MLB CAPITAL PRIVATE LIMITED||1375||DYNAMIC EQUITIES PRIVATE LIMITED||3808|
|ANUSH SHARES & SECURITIES PVT.LTD.||1314||NINE STAR BROKING PRIVATE LIMITED||3735|
|KARUNA FINANCIAL SERVICES PVT. LTD||1221||LAKSHMISHREE INVESTMENTS||3709|
|BERKELEY SECURITIES LIMITED||1131||VERTEX SECURITIES LTD.||3544|
|INDOVISION SECURITIES LIMITED||1130||ANS PVT. LTD.||3542|
|EDELWEISS SECURITIES LIMITED||1129||SW CAPITAL PRIVATE LIMITED||3528|
|BEZEL STOCK BROKERS PRIVATE LIMITED||1088||VOGUE COMMERCIAL COMPANY LIMITED||3510|
|RTG SHARE BROKING LIMITED||992||WEALTH MANTRA LIMITED||3464|
|SKUNG TRADELINK LIMITED||992||SATCO CAPITAL MARKETS LIMITED||3321|
|EXPONENTIAL FINANCIAL SERVICES PRIVATE LIMITED||989||ABHIPRA CAPITAL LTD.||3230|
|ARHAM SHARE CONSULTANTS PRIVATE LIMITED||986||JUST TRADE SECURITIES LIMITED||2936|
|MOTISONS SHARES PRIVATE LIMITED||958||INDIA ADVANTAGE||2913|
|VERACITY FINANCIAL SERVICES PVT LTD||908||ITI FINANCIAL SERVICES LTD.||2889|
|AMBIT SECURITIES BROKING PVT. LTD.||868||DIMENSIONAL SECURITIES PVT. LTD||2863|
|VGP PORTFOLIO||867||HSE SECURITIES LTD.||2849|
|VACHANA INVESTMENTS PRIVATE LIMITED||691||KAYNET FINANCE LIMITED||2831|
|GCL SECURITIES PVT LTD||575||SUGAL & DAMANI SHARE BROKERS LIMITED||2701|
|BEST BULL STOCK TRADING||575||SHILPA STOCK BROKER PRIVATE LIMITED||2693|
|PRL STOCK & SHARE BROKERS PVT. LTD.||570||CHOICE EQUITY BROKING PRIVATE LIMITED||2653|
|BEELINE BROKING LTD||561||EASTERN FINANCIERS LTD||2632|
|ACTION FINANCIAL SERVICES (INDIA) LIMITED||553||KANTILAL CHAGANLAL||2619|
|MSE FINANCIAL SERVICES LTD.||536||NG RATHI INVESTRADES PRIVATED LIMITED||2611|
|ADWEALTH STOCK BROKING PRIVATE LIMITED||492||MPSE SECURITIES LIMITED||2587|
|KHAMBATTA SECURITIES LTD.||430||ASTHA CREDIT & SECURITIES (P) LTD||2567|
|I VENTURES CAPITAL PRIVATE LIMITED||387||MANUBHAI MANGALDAS||2560|
|PRRSAAR||386||DANI SHARES & STOCKS PRIVATE LIMITED||2520|
|PROFICIENT EQUITIES PRIVATE LIMITED||265||INTEGRATED MASTER||2453|
|SAS BROKING PRIVATE LIMITED||262||FRR SHARES AND SECURITIES LIMITED||2452|
|KEYNOTE CAPITALS LTD.||239||ASHLAR SECURITIES PRIVATE LIMITED||2441|
|NNM SECURITIES PVT. LTD.||183||DB (INTERNATIONAL)||2394|
|SPACE ANG INDIA CORPORATION||140||JKB FINANCIAL SERVICES LIMITED||2222|
|SODHANI SECURITIES LTD.||123||RR EQUITY BROKERS PVT. LTD.||2217|
|PAN SECURITIES LIMITED||104||NORTHEAST BROKING SERVICES LTD.||2107|
|SRI BHEEMESWARA SECURITIES (P) LTD||54||NJ INDIA INVEST PRIVATE LIMITED||2058|
|UNITY FINCAP PVT. LTD.||46||ORION CAPITAL AND DEBT MARKET||2056|
|MOTISONS SECURITIES PVT LTD||22||TRADESWIFT BROKING PRIVATE LIMITED||2025|
|QUANT SECURITIES PRIVATE LIMITED||7||FORTUNE CAPITAL||1807|
|ICICI BANK LTD.||5||ALMONDZ GLOBAL SECURITIES LTD.||1785|
|FORTUNE CAPITAL SERVICES||2||ORTEM SECURITIES LIMITED||1778|
|JKM STOCK VISION||1||GOGIA CAPITAL SERVICES LIMITED||1756|
|TRADEWELL SECURITIES LTD.||NA||TRADEWELL SECURITIES LTD.||1589|
|RAGHUNANDAN CAPITAL PRIVATE LIMITED||NA||RAGHUNANDAN CAPITAL PRIVATE LIMITED||1568|
|KALPATARU MULTIPLIER LTD.||NA||KALPATARU MULTIPLIER LTD.||1552|
|FORTUNE FISCAL LTD||NA||FORTUNE FISCAL LTD||1541|
|PATERSON SECURITIES PRIVATE LIMITED||NA||PATERSON SECURITIES PRIVATE LIMITED||1506|
|F6 FINSERVE PRIVATE LIMITED||NA||F6 FINSERVE PRIVATE LIMITED||1481|
|BALJIT SECURITIES PVT. LTD.||NA||BALJIT SECURITIES PVT. LTD.||1448|
|ACHIIEVERS EQUITIES LIMITED||NA||ACHIIEVERS EQUITIES LIMITED||1404|
|EDELWEISS SECURITIES LIMITED||NA||EDELWEISS SECURITIES LIMITED||1397|
|SKI CAPITAL SERVICES LTD.||NA||SKI CAPITAL SERVICES LTD.||1338|
|KARUNA FINANCIAL SERVICES PVT. LTD||NA||KARUNA FINANCIAL SERVICES PVT. LTD||1309|
|EAST INDIA SECURITIES LTD.||NA||EAST INDIA SECURITIES LTD.||1302|
|RTG SHARE BROKING LIMITED||NA||RTG SHARE BROKING LIMITED||1286|
|BEZEL STOCK BROKERS PRIVATE LIMITED||NA||BEZEL STOCK BROKERS PRIVATE LIMITED||1255|
|BERKELEY SECURITIES LIMITED||NA||BERKELEY SECURITIES LIMITED||1235|
|FAST CAPITAL MARKETS LTD.||NA||FAST CAPITAL MARKETS LTD.||1182|
|INDOVISION SECURITIES LIMITED||NA||INDOVISION SECURITIES LIMITED||1175|
|SUNFLOWER BROKING PVT. LTD.||NA||SUNFLOWER BROKING PVT. LTD.||1154|
|FORT SHARE BROKING PRIVATE LIMITED||NA||FORT SHARE BROKING PRIVATE LIMITED||1151|
|FAIRWEALTH SECURITIES LIMITED||NA||FAIRWEALTH SECURITIES LIMITED||2305|
|COMPOSITE SECURITIES LTD.||NA||COMPOSITE SECURITIES LTD.||1145|
|PEE AAR SECURITIES LIMITED||NA||PEE AAR SECURITIES LIMITED||1089|
|VGP PORTFOLIO||NA||VGP PORTFOLIO||1066|
|MEHTA EQUITIES LIMITED||NA||MEHTA EQUITIES LIMITED||1059|
|INDO THAI SECURITIES LTD.||NA||INDO THAI SECURITIES LTD.||1012|
|TR CAPITAL LIMITED||NA||TR CAPITAL LIMITED||1008|
|MERITS CAPITAL MARKET SERVICES PVT. LTD.||NA||MERITS CAPITAL MARKET SERVICES PVT. LTD.||1007|
|BADJATE STOCK AND SHARES PRIVATE LIMITED||NA||BADJATE STOCK AND SHARES PRIVATE LIMITED||976|