India’s retail trading market has grown to over 150 million registered investors in 2026, but not all brokers serve them equally. At TradingCritique, we have curated an extensive list of the best brokers in India that can be trusted when it comes to regulation and safety.
We adopt a stringent regulation-first policy, so all the brokers included in our list pass through stringent checks for safety and credibility. Among other brokers, you will explore the most trusted trading platforms such as Zerodha, Groww, Upstox, 5paisa, Angel One, ICICI Direct, and more for easy comparison.
Why regulation matters when choosing a broker in India?
Regulation is important for keeping your money safe during trading, so you need to ensure its presence before selecting a broker. Regulated brokers operate under certain rules set up by government entities, ensuring that your funds will be secured and the trading process will run smoothly. The key regulators for trading in India are given below:
- SEBI (Securities and Exchange Board of India)
SEBI supervises Stock brokers, the Equity market, Derivatives (F&O), and Mutual Funds. It strictly imposes regulations, keeps things transparent, and safeguards investors’ money.
- RBI (Reserve Bank of India)
RBI controls banks and foreign exchange-related transactions. It oversees monetary activities and maintains financial stability in the system.
In India, your shares are safely held by depositories like CDSL and NSDL, not by the broker, so even if a broker shuts down, your investments stay secure. On the contrary, unregulated brokers can put your money at risk because they are not controlled by any official authority.
For example, a trader may deposit money and later be unable to withdraw it because the broker stops responding. Since there is no regulation from SEBI and RBI, there is often no authority to complain to or recover your funds.
If you are unsure, this detailed guide explains the difference between regulated and unregulated brokers in simple terms.
Best brokers in India 2026: Quick side-by-side comparison
This quick comparison gives you a clear snapshot of the top brokers in India 2026, so you can easily compare key factors like regulation, minimum deposit, assets, and more before diving into detailed broker reviews.
| Brokers | SEBI licence number | Minimum deposit | Assets | Platform | Best for |
|---|---|---|---|---|---|
| Zerodha | INZ000031633 | $0 | Stocks, Mutual Funds, & Bonds | Zerodha Kite app | Low-cost trading and advanced tools |
| Groww | INZ000208032 | $0 | Stocks, F&O, Mutual Funds, ETFs | Groww app | Beginners and simple investing |
| Upstox | INZ000315837 | $0 | Mutual Funds, Stocks, F&O, and currency | Upstox pro | Active traders and fast execution |
| 5paisa | INZ000010231 | $0 | IPO, Stocks, Commodities, F&O, Mutual Funds | 5paisa app | Budget-friendly and beginner traders |
| Angel One | INZ000161534 | $0 | Stocks, Commodities, IPOs, F&O, and ETFs | Angel One app | Research and active traders |
| ICICI Direct | INZ000183631 | $0 | Stocks, IPOs, Commodities, ETFs, Bonds, and F&O | ICICI app | Full-service investing and research |
| HDFC Securities | INZ000186937 | $0 | Equity, Currency, IPOs, Commodities, and Mutual Funds | HDFC Securities app and Pro Terminal | Long-term investors and banking |
| Punch | INZ000300936 | $0 | Index Options, Stock Options, and Equities | Punch desk | Low-cost Option trading |
Best SEBI-regulated brokers in India: Detailed reviews
Here is a quick overview of the top SEBI-regulated brokers in India, focusing on all key features for all types of traders.
#1 Zerodha
Zerodha
Regulation: SEBI
Min dep: $0 Leverage: Varies by asset class
Trading fees: $20 or 0.03%
Account type: Individual, HUF, NRI, minor, and corporate account
Assets:Stocks, Mutual funds, F&O, IPO, and Fixed income
Platform: Zerodha Kite
Zerodha is India’s largest Stockbroker, founded in 2010, known for its low-cost trading and simple pricing model. It offers free account opening and $0 brokerage on Equity delivery trades, making it a popular choice for beginners and long-term investors. The available funding methods are UPI, payment gateway, NEFT/RTGS, IMPS, and cheque.
Pros
- Support available via tickets daily and phone on weekdays
- $0 brokerage on Equity delivery
- Low-cost trading
Cons
- Limited research and analysis tools
- Unlimited trading plan is not offered
- No government compensation if the broker fails, shares are protected via CDSL/NSDL, but cash balances may not be recoverable
#2 Groww
Groww
Regulation: SEBI
Min dep: $0 Leverage: Varies by asset class
Trading fees: $20 or 0.1%
Account type: HUF and individual demat account
Assets:Stocks, Mutual funds, F&O,Commodities, and ETF
Platform: Groww app
Groww is a simple SEBI-regulated trading platform in India, trusted by millions of traders. Founded in 2016, it offers safe and easy investing with MFA and strong data security. Users can invest in various assets, with 24/7 email support and a helpful FAQ help centre.
Pros
- Easy-to-use app for beginners
- $0 commission on Mutual Funds + low-cost trading
- No AMC fees charged
Cons
- No currency trading
- Limited advanced trading tools
#3 Upstox
Upstox
Regulation: SEBI
Account type:Individual, joint, Corporate, NRI, and more
Assets:Mutual funds, Stocks, F&O, and currency
Platform:Upstox pro
Upstox is a beginner-friendly Stockbroker in India that makes trading simple and affordable. Started in 2009, it offers low brokerage fees and easy account opening, along with helpful educational resources, such as videos and webinars, to guide new investors.
Pros
- Free account opening with $0 AMC
- Low brokerage of ~$0.21 (₹20) per trade across segments
- Strong learning resources
Cons
- Phone support is available from 8:00 AM to 5:00 PM
- Limited advanced research tools
- Charges applicable for intraday, F&O, and other trades
#4 5paisa
5paisa
Regulation: SEBI
Account type: Individual, joint, minor, Corporate, NRI, and more
Assets: IPO, Stocks, Commodities, F&O, Mutual Funds
Platform: 5paisa app
5paisa is a SEBI-regulated discount broker in India, founded in 2016. It is trusted by over 50 lakhs+ customers and supports 4+ languages, making it user-friendly for a wide range of investors.
Pros
- Flexible plans for different users
- Free trading advice and research support
- Offers Mutual Funds and insurance
Cons
- High demat and transaction charges
- Customer support quality is inconsistent compared to Zerodha
#5 Angel One
Angel One
Regulation: SEBI
Min dep: $0
Leverage: Varies by asset class
Trading fees: Variable
Account type: Repatriable, regular, non- repatriable, and basic service demat account
Assets:Stocks, Commodities, IPOs, F&O, and ETFs
Platform:Angel One app
Angel One, founded in 1996, is one of India’s oldest and well-established Stockbrokers. It offers a mix of affordable trading, strong research support, and a wide range of investment options, making it suitable for both beginners and experienced traders.
Pros
- Easy-to-use app with fast account opening
- Wide range of investments like Stocks, Mutual Funds, Commodities, and IPOs
- Transparent pricing
Cons
- Not ideal for advanced day traders
- Customer support is not 24/7
#6 ICICI Direct
ICICI Direct
Regulation: SEBI
Min dep: $0
Leverage: Varies by asset class
Trading fees: $20
Account type: Demat, trading and NRI account
Assets: Stocks, IPOs, Commodities, ETFs, Bonds, and F&O
Platform: ICICI app
ICICI Direct, founded in 2000, offers a 3-in-1 account that combines a bank, trading, and demat account in one place, making investing simple and seamless. It provides research tools and customer support through email, phone, and 24/7 WhatsApp, along with FAQs and query support for quick assistance.
Pros
- Easy 3-in-1 account setup
- Wide range of investment options
- Good research tools and calculators available
Cons
- High brokerage charges across different plans
- 24/7 phone support not available
#7 HDFC Securities
HDFC Securities
Regulation: SEBI
Min dep: $0
Leverage: Varies by asset class
Trading fees: $20 or 0.05%
Account type: Demat, NRI, Corporate, and BSDA
Assets: Equity, Currency, IPOs, Commodities, and Mutual funds
Platform: HDFC Securities app and Pro Terminal
HDFC Securities, a subsidiary of HDFC Bank, was founded in 2000 and is a trusted name in India. It offers a convenient 3-in-1 account that integrates banking, trading, and demat services for seamless investing. The platform has earned 40+ awards and provides customer support on weekdays and Saturdays.
Pros
- 3-in-1 account for easy account management
- Offers a wide range of financial assets
- Excellent trading platform for beginners
Cons
- Brokerage charges are high
- HDFC pro terminal platform requires a paid subscription
#8 Punch
Punch
Regulation: SEBI
Min dep: $0
Leverage: Varies by asset class
Trading fees: $1
Account type:Unified demat and trading account
Assets:Index Options, Stock Options, and Equities
Platform:Punch desk
Founded in 2022, Punch is a low-cost discount broker in India, focused on ultra-cheap trading for active traders. It offers a simple pricing model, making it attractive for cost-conscious users.
Pros
- Very low brokerage fee of ~ $0.011 (₹1) per executed order or 0.10%
- No Annual Maintenance Charges
- Suitable for intraday and active traders
Cons
- Limited overall features compared to full-service brokers
- Not ideal for beginners due to basic platform tools
- Limited investment products and services
How to choose the best broker in India: 5 key factors
Selecting a broker will become easier if you pay attention to these 5 crucial aspects:
#1 Regulatory and security aspects
A brokerage firm regulated by the Securities and Exchange Board of India (SEBI) will ensure that you remain safe and secure while dealing with them. Avoid using unregulated brokers, as they don’t offer the same level of protection.
#2 Fees and commission
The fee charged by the broker and other expenses, such as AMC, regulatory, or transaction fees, play an essential role. Selecting a low-cost brokerage firm allows you to earn higher returns on your investment.
#3 Assets you wish to invest in
It is essential to choose a brokerage firm that will enable you to invest in your preferred assets. Not all brokerage firms have assets such as Stocks, F&O, and Mutual Funds available for investment. Choosing the right broker early avoids the hassle of switching later.
#4 Brokerage platform usability
Selecting a user-friendly trading platform is crucial for a smooth trading experience. A beginner must choose a simple trading app, whereas a pro trader can opt for more advanced platforms.
#5 Reliable customer support
A broker providing round-the-clock customer support service in your native language is preferable. It gives you peace of mind when you need support.
Conclusion
Choosing a trusted brokerage firm in India can be easily done if you follow one key principle: choose a regulated platform. It will not only safeguard your investment but also promote healthy trading practices.
India’s popular brokers, such as Zerodha, Upstox, Angel One, Groww, and others, aim to provide quality, efficient, and cost-effective services for trading purposes. Although the selection of the best broker may vary according to individual requirements, it is advisable to choose a SEBI-regulated broker.
Pro Tip
Instead of risking real money, it may be better for you to first try the demo account and get to know how the platform functions. Additionally, spend a few moments verifying if your broker is authorized by the SEBI in India, and this small action could safeguard your financial interests in the long run.
Frequently Asked Questions
1. Which broker is best for beginners in India?
Groww and Zerodha are good choices for beginners in India. These brokers are easy to use, low-cost, and offer simple apps to start investing.
2. Is Zerodha safe and regulated?
Yes, Zerodha is regulated by the Securities and Exchange Board of India with registration number INZ000031633. This means it follows strict rules and is considered safe for trading.
3. What is the minimum amount to start investing in India?
There is no fixed minimum amount to start investing in the Indian stock market, and you can begin with as little as ~ $1.06 (₹100) or even less, and many brokers even allow you to start with $0.
4. Which broker has the lowest fees in India?
Zerodha, Upstox, Punch, and 5paisa are known for low fees. They usually charge ~ $0.21 (₹20) / trade and $0 for delivery, and even less.
5. Can I trade Forex in India with a regulated broker?
Yes, but only in limited currency pairs approved by the RBI and SEBI. You cannot freely trade all global Forex pairs in India.
6. What is SEBI, and why does it matter when choosing a broker?
SEBI is the authority that regulates Stockbrokers in India. It helps protect your money and ensures brokers follow proper rules, making trading safer.
