Top 10 Share Brokers of India with Highest number of Active Clients


  Top 10 Share Brokers with Highest Active Clients

Number of active clients of a broker reveals a lot of information about the quality of the service provided by that particular stock broker. Top Share Brokers always try to provide better service to their customers and hence the total number of active clients is always highest for these brokers.

Every share broker of India are claiming themselves as the Best Share Brokers, but in this competitive world, customer will never stick with them if they no longer find any value in the broker.


The term “Active Client” refers to the customer who has carried out atleast one transaction in a financial year.  So if a customer uses the service of the broker, this itself proves that he is satisfied with the service (Or altleast he finds it better than service provided by other brokers).

This is the reason why every share brokers of India wants to increase the percentage of active clients. You may probably have received a call from their team to carry out alteast one trade in your account. The executive will request you to make a trade even if it is of small amount!.


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So lets have a look at the list of Top 10 Share Brokers boosting largest number of active traders as per the National Stock Exchange (NSE).

Here is the list of Top 10 Share Brokers with highest active client base in India:

RankingStock BrokerNo of
Active Clients
1ICICIDIrectICICIDIRECT-Logo618359 ICICIdirect Review
2HDFC SecuritiesHDFC-Securities-Logo483244HDFC Securities Review
3SharekhanSharekhan-Logo366468ShareKhan Review
4Kotak SecuritiesKotak-Securities-Logo273895Kotak Securities Review
5Axis SecuritiesAxis-Securities-Logo259006Axis Securities Review
6Angel BrokingAngel-Broking-Logo230194Angel Broking Review
7Motilal OswalMotilal-oswal-Logo207194Motilal Oswal Review
8IIFLIIFL-Logo197996IIFL Brokerage Review
9Karvy Stock Brokingkarvy-broking-Logo181384Karvy Stock Broking Review
10SBICAP SecuritiesSBICAP-securities-Logo169345SBICAP Securities Review

As you can see, top 2 positions are occupied by the brokerage houses backed by the leading banks of India. Also the top 5 share brokers out of 10 are also from the banks. The banks have advantage compared to others in terms of acquiring new clients.

The banks simply offer the demat accounts to their customer who approach them to open a Savings Bank account or credit card etc.

They also get huge customers when they open savings account to new employees of private organisation like Infosys, TCS and Wipro etc.

But the other brokers have to struggle a lot to gain clients and they do it through the means of their franchises (sub brokers). They share their profit with sub brokers who help them to gain and service the customers.

  Quick Note about Top 20 Stock Brokers

The above table has information about only 10 eminent share brokers. But if one looks at top 20 Share brokers of India, the 11th position is occupied by Zerodha. The reason for mentioning about this firm is, it is the only discount broker that could manage to appear in the top 20 list.

With 1,65,585 active investor and traders, Zerodha has managed to grow at exponential pace in last few years. What is more interesting is that they could manage this feat in very short span of time. Zerodha has started their operation in 2010 whereas the brokers in top 10 list has history of 1980-90s.

We feel that, because Zerodha has waived off the brokerage charges for the investment transaction, which is very significant when compared to other major brokers who charge upto 0.5% of the total value, they are able to attract more and more customers than good old brokers.

Refer some of the other articles about Zerodha:


So the competition heating up and don’t be surprised if the above table looks completely different in couple of years. Ultimately it is the customer who gets the benefit of this healthy competition, Only who understand the customers need will manage to stay in the list of top 10 share brokers with highest clients on a consistent basis. Others will only make way for others and start living off of their past glory.


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