Top 3 Full-Service Brokers in India
Full-service brokers are traditional brokers that provide a wide range of services to their customers. These services include investment advisory, portfolio and wealth management, and research services.
In India the top 3 full-service brokers that are well known and have a huge client base are the following
ICICI Direct:Â
ICICI Direct is a name that almost everyone who wants to invest in the markets has heard of.Â
ICICI Direct was founded in the year 2000 as an arm of ICICI Securities. The company ICICI Brokerage was incorporated in the year 1995 and started operations on May 3, 1995. The name was subsequently changed to ICICI Securities Primary Dealership Ltd in 2007 due to restructuring of operations by the holding company.
Having an active client base of 4+ million people this is backed by the ICICI group. ICICI Direct offers 3-in-1 account and offers Institutional as well as Retail brokerage.Â
ICICI Direct has consistently won awards for being the best service provider by Outlook Money. Apart from 3-in -1 account, the investors can get a host of other services on the platform including third-party products.Â
ICICI Direct portal offers the following brokerage plansÂ
I Secure – Flat Brokerage Plan – Flat Brokerage irrespective of turnover value. This plan is suitable for traders / investors looking at secured and fixed brokerage. It charges 0.55% brokerage on turnover for equity delivery trades and 0.275% for intraday.Â
The minimum brokerage for transactions upto 6364 on stocks quoting more than 10 is 35/- per trade or 2.5% of the trade value whichever is lower. Brokerage rates as mentioned above, will be charged for trade value exceeding 6364
Brokerage on stocks quoting upto 10 would be levied at 0.05 per share. The total brokerage on such trade would be higher of 0.05 per share or 35, subject to maximum of 0.25 per share. All Statutory charges would be levied over and above the brokerage
All Systematic Equity Plan transactions would attract brokerage equivalent to Cash segment. The minimum brokerage for transactions up to  2727 is 15 or 2.5% whichever is lower. All statuary charges would be levied over and above minimum brokerage. Brokerage rate mentioned above would be levied for trade value exceeding 2727
I-Saver- variable Brokerage Plan- This plan is suitable for traders / investors who trade in high volumes and can benefit from low brokerage. The brokerage charged is in the range of 0.25% to 0.75% for delivery and 0.125% to 0.375% for intraday.
- The minimum brokerage for transactions upto Rs.4667 on stocks quoting more than Rs.10 is Rs. 35/- per trade or 2.5% of the trade value whichever is lower. Brokerage rates as mentioned above, will be charged for trade value exceeding Rs. 4667.
- Brokerage on stocks quoting upto RS. 10 would be levied at Rs. 0.05 per share. The total brokerage on such trade would be higher of Rs. 0.05 per share or Rs. 35, subject to maximum of Rs. 0.25 per share. All Statutory charges would be levied over and above the brokerage.
- All Systematic Equity Plan transactions would attract brokerage equivalent to Cash segment. The minimum brokerage for transactions up to Rs 2000 is Rs 15 or 2.5% whichever is lower. All statutory charges would be levied over and above minimum brokerage. Brokerage rate mentioned above would be levied for trade value exceeding Rs. 2000
- Second leg of intra day square off transaction in cash will not be charged any brokerage
ICICI Direct has plans for Futures and options trading and for commodity trading as well
For Margin and Margin plus the following brokerage is charged
| Total Eligible Turnover per month | Brokerage (%) |
| Â Above Rs. 20 Crores | 0.03 |
| Rs.10 Crores to 20 Crores | 0.035 |
| Rs.5 Crores to 10 Crores | 0.04 |
| Less than Rs.5 Crores | 0.05 |
- The minimum brokerage for transactions upto Rs 50000 is Rs 25 or 2.5% whichever is lower. All statutory charges would be levied over and above minimum brokerage.
- Brokerage rate mentioned above would be levied for trade value exceeding Rs. 50000
Brokerage in Future and Future Plus
| For Equity Futures | Equity Future and Future Plus | |
| Total Eligible Turnover per month | Brokerage (%) | Flat Brokerage on other leg of Intraday square off (per lot) |
| Above Rs. 20 Crores | 0.030 | Rs.25/- |
| Rs.10 Crores to 20 Crores | 0.035 | Rs.25/- |
| Rs.5 Crores to 10 Crores | 0.040 | Rs.25/- |
| Less than Rs.5 Crores | 0.050 | Rs.25/- |
Apart from these there are I -gain futures and options plan and Options 195 plan as well. For more details on the charges you can always visit ICICI Direct – Insta Help – Charges
HDFC Securities
After ICICI Securities the one that is most trusted by investors and is a close competitor of ICICI Securities is HDFC Securities that has been promoted by HDFC Bank. HDFC securities began operations in April 2000. In the beginning it was a joint venture between HDFC Bank Limited, HDFC Limited and Indocean eSecurities Holdings Limited.
Along with offering stock broking services, HDFC securities is also a distributor of financial products. In 2006, HDFC Bank bought HDFC Ltd’s stake and in 2008 acquired another 4% from Indocean eSecurities. Currently HDFC securities is a subsidiary of HDFC Bank.
HDFC Securities offers all the products 3- in -1 account, advisory services, PMS, Wealth management along with third party products. With close to 1 million active clients HDFC Securities is a trusted name for Institutional as well as retail brokerage and has won many awards for its services and platforms over the years.
Minimum Brokerage per orderÂ
(subject to ceiling of 2.5% of total traded value)
Resident NRI: Applicable for both Buy & Sell orders Rs.25/-Rs.25/-
Delivery Based Trades:
| Brokerage | Resident Indians – 0.50% or min Rs.25/- or ceiling of 2.5% on transaction value (Both Buy & Sell)
For NRI’s – Brokerage 0.75% or min Rs. 25 or ceiling of 2.5% on transaction value (Both Buy & Sell) |
| Brokerage scrips less than Rs.10 per share | Minimum brokerage of Rs. 0.05/- per unit will be charged. Brokerage will be charged within the limits prescribed by SEBI / Exchanges. (Both Buy & Sell) |
Square-Off Trades Cash & Carry Scrips:
| Brokerage | 0.10% or min Rs.25/- or ceiling of 2.5% on transaction value (Both Buy & Sell) |
| Brokerage scrips less than Rs.10 per share | Minimum brokerage of Rs. 0.05/- per unit will be charged. Brokerage will be charged within the limits prescribed by SEBI / Exchanges. (Both Buy & Sell) |
Square-Off Trades Margin Scrips:
| Brokerage | 0.05% or min Rs.25/- or ceiling of 2.5% on transaction value (Both Buy & Sell) |
| Brokerage scrips less than Rs.10 per share | Minimum brokerage of Rs. 0.05/- per unit will be charged. Brokerage will be charged within the limits prescribed by SEBI / Exchanges. (Both Buy & Sell) |
OPTION MARKET :Â
| Brokerage | Resident Indians – Higher of 1% of the premium amount or Rs.100 per lot (Both Buy & Sell)
For NRI’s – Higher of 1% of the premium amount or Rs.100 per lot (Both Buy & Sell) |
FUTURES MARKET:
Non-Square Off (Carry Forward) Trades:
| Brokerage | Resident Indians – 0.05% or min Rs.25/- or ceiling of 2.5% of transaction value (Both Buy & Sell)
For NRI’s – 0.05% or min Rs.25/- or ceiling of 2.5% of transaction value (Both Buy & Sell) |
Square-Off Trades:
| Brokerage | Resident Indians – 0.025% or min Rs.25/- or ceiling of 2.5% of transaction value (Both Buy & Sell)
For NRI’s – 0.025% or min Rs.25/- or ceiling of 2.5% of transaction value (Both Buy & Sell) |
For the detailed charged please refer to https://www.hdfcsec.com/article/brokeragecharges-3044
Sharekhan
The third full service broker that we will be talking about is Sharekhan.
Sharekhan is the name that most of us are familiar with. They are one of the largest retail brokerages in India. Founded by Shripal Morakhia a Mumbai based entrepreneur in 2000 Sharekhan has been a pioneer in the brokerage space introducing products that are sought after by the clients.Company has the active client base of 1.4 million. Sharekhan is now fully owned subsidy of BNP Paribas and the acquisition was completed in the year 2016.
Following are the brokerage charges charged by Sharekhan
Sharekhan Classic Account
| Segment | Brokerage Fee |
| Monthly Fee (Fixed) | |
| Equity Delivery | 0.50% |
| Equity Intraday | 0.10% |
| Equity Futures | 0.10% |
| Equity Options | Rs 50 per lot |
| Currency Futures | 0.10% |
| Currency Options | Rs 30 per lot |
| Commodity Futures | 0.03% |
| Commodity Options | 0.03% |
Sharekhan Prepaid – ₹1 Lakh
| Segment | Brokerage Fee |
| Monthly Fee (Fixed) | Rs 1,00,000 per year |
| Equity Delivery | 0.10% |
| Equity Intraday | 0.015% |
| Equity Futures | 0.015% |
| Equity Options | 0.05% or Rs 63 per lot |
The commodity and currency futures and options are not part of this
Sharekhan Transaction Charges 2021
| Segment | Transaction Fee |
| Equity Delivery | NSE Rs 325 per Cr (0.00325%) | BSE Rs 275 per Cr (0.00275%) (each side) |
| Equity Intraday | NSE Rs 325 per Cr (0.00325%) | BSE Rs 275 per Cr (0.00275%) (each side) |
| Equity Futures | NSE Rs 190 per Cr (0.0019%) | BSE Rs 50 per Cr (0.00035) (each side) |
| Equity Options | NSE Rs 5000 per Cr (0.05%) | BSE Rs 50 per Cr (0.0005%) (on premium) |
| Currency Futures | NSE Rs 135 per Cr (0.00135%) | MCX Rs 130 per Cr (0.00130%) |
| Currency Options | NSE Rs 4220 per Cr (0.04220%) | MCX Rs 3220 per Cr (0.03220%) (on premium) |
| Commodity | MCX (Non-Agri) Rs 230 per Cr (0.0023%) | MCX (Agri) Rs 95 per Cr (0.00095%) |
All the full services brokers give almost the similar services and the charges are also more or less the same. It is your choice with which full service broker you would like to open your account.
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Top 3 Full-Service Brokers in India
Full-service brokers are traditional brokers that provide a wide range of services to their customers. These services include investment advisory, portfolio and wealth management, and research services.
In India the top 3 full-service brokers that are well known and have a huge client base are the following
ICICI Direct:Â
ICICI Direct is a name that almost everyone who wants to invest in the markets has heard of.Â
ICICI Direct was founded in the year 2000 as an arm of ICICI Securities. The company ICICI Brokerage was incorporated in the year 1995 and started operations on May 3, 1995. The name was subsequently changed to ICICI Securities Primary Dealership Ltd in 2007 due to restructuring of operations by the holding company.
Having an active client base of 4+ million people this is backed by the ICICI group. ICICI Direct offers 3-in-1 account and offers Institutional as well as Retail brokerage.Â
ICICI Direct has consistently won awards for being the best service provider by Outlook Money. Apart from 3-in -1 account, the investors can get a host of other services on the platform including third-party products.Â
ICICI Direct portal offers the following brokerage plansÂ
I Secure – Flat Brokerage Plan – Flat Brokerage irrespective of turnover value. This plan is suitable for traders / investors looking at secured and fixed brokerage. It charges 0.55% brokerage on turnover for equity delivery trades and 0.275% for intraday.Â
The minimum brokerage for transactions upto 6364 on stocks quoting more than 10 is 35/- per trade or 2.5% of the trade value whichever is lower. Brokerage rates as mentioned above, will be charged for trade value exceeding 6364
Brokerage on stocks quoting upto 10 would be levied at 0.05 per share. The total brokerage on such trade would be higher of 0.05 per share or 35, subject to maximum of 0.25 per share. All Statutory charges would be levied over and above the brokerage
All Systematic Equity Plan transactions would attract brokerage equivalent to Cash segment. The minimum brokerage for transactions up to  2727 is 15 or 2.5% whichever is lower. All statuary charges would be levied over and above minimum brokerage. Brokerage rate mentioned above would be levied for trade value exceeding 2727
I-Saver- variable Brokerage Plan- This plan is suitable for traders / investors who trade in high volumes and can benefit from low brokerage. The brokerage charged is in the range of 0.25% to 0.75% for delivery and 0.125% to 0.375% for intraday.
- The minimum brokerage for transactions upto Rs.4667 on stocks quoting more than Rs.10 is Rs. 35/- per trade or 2.5% of the trade value whichever is lower. Brokerage rates as mentioned above, will be charged for trade value exceeding Rs. 4667.
- Brokerage on stocks quoting upto RS. 10 would be levied at Rs. 0.05 per share. The total brokerage on such trade would be higher of Rs. 0.05 per share or Rs. 35, subject to maximum of Rs. 0.25 per share. All Statutory charges would be levied over and above the brokerage.
- All Systematic Equity Plan transactions would attract brokerage equivalent to Cash segment. The minimum brokerage for transactions up to Rs 2000 is Rs 15 or 2.5% whichever is lower. All statutory charges would be levied over and above minimum brokerage. Brokerage rate mentioned above would be levied for trade value exceeding Rs. 2000
- Second leg of intra day square off transaction in cash will not be charged any brokerage
ICICI Direct has plans for Futures and options trading and for commodity trading as well
For Margin and Margin plus the following brokerage is charged
| Total Eligible Turnover per month | Brokerage (%) |
| Â Above Rs. 20 Crores | 0.03 |
| Rs.10 Crores to 20 Crores | 0.035 |
| Rs.5 Crores to 10 Crores | 0.04 |
| Less than Rs.5 Crores | 0.05 |
- The minimum brokerage for transactions upto Rs 50000 is Rs 25 or 2.5% whichever is lower. All statutory charges would be levied over and above minimum brokerage.
- Brokerage rate mentioned above would be levied for trade value exceeding Rs. 50000
Brokerage in Future and Future Plus
| For Equity Futures | Equity Future and Future Plus | |
| Total Eligible Turnover per month | Brokerage (%) | Flat Brokerage on other leg of Intraday square off (per lot) |
| Above Rs. 20 Crores | 0.030 | Rs.25/- |
| Rs.10 Crores to 20 Crores | 0.035 | Rs.25/- |
| Rs.5 Crores to 10 Crores | 0.040 | Rs.25/- |
| Less than Rs.5 Crores | 0.050 | Rs.25/- |
Apart from these there are I -gain futures and options plan and Options 195 plan as well. For more details on the charges you can always visit ICICI Direct – Insta Help – Charges
HDFC Securities
After ICICI Securities the one that is most trusted by investors and is a close competitor of ICICI Securities is HDFC Securities that has been promoted by HDFC Bank. HDFC securities began operations in April 2000. In the beginning it was a joint venture between HDFC Bank Limited, HDFC Limited and Indocean eSecurities Holdings Limited.
Along with offering stock broking services, HDFC securities is also a distributor of financial products. In 2006, HDFC Bank bought HDFC Ltd’s stake and in 2008 acquired another 4% from Indocean eSecurities. Currently HDFC securities is a subsidiary of HDFC Bank.
HDFC Securities offers all the products 3- in -1 account, advisory services, PMS, Wealth management along with third party products. With close to 1 million active clients HDFC Securities is a trusted name for Institutional as well as retail brokerage and has won many awards for its services and platforms over the years.
Minimum Brokerage per orderÂ
(subject to ceiling of 2.5% of total traded value)
Resident NRI: Applicable for both Buy & Sell orders Rs.25/-Rs.25/-
Delivery Based Trades:
| Brokerage | Resident Indians – 0.50% or min Rs.25/- or ceiling of 2.5% on transaction value (Both Buy & Sell)
For NRI’s – Brokerage 0.75% or min Rs. 25 or ceiling of 2.5% on transaction value (Both Buy & Sell) |
| Brokerage scrips less than Rs.10 per share | Minimum brokerage of Rs. 0.05/- per unit will be charged. Brokerage will be charged within the limits prescribed by SEBI / Exchanges. (Both Buy & Sell) |
Square-Off Trades Cash & Carry Scrips:
| Brokerage | 0.10% or min Rs.25/- or ceiling of 2.5% on transaction value (Both Buy & Sell) |
| Brokerage scrips less than Rs.10 per share | Minimum brokerage of Rs. 0.05/- per unit will be charged. Brokerage will be charged within the limits prescribed by SEBI / Exchanges. (Both Buy & Sell) |
Square-Off Trades Margin Scrips:
| Brokerage | 0.05% or min Rs.25/- or ceiling of 2.5% on transaction value (Both Buy & Sell) |
| Brokerage scrips less than Rs.10 per share | Minimum brokerage of Rs. 0.05/- per unit will be charged. Brokerage will be charged within the limits prescribed by SEBI / Exchanges. (Both Buy & Sell) |
OPTION MARKET :Â
| Brokerage | Resident Indians – Higher of 1% of the premium amount or Rs.100 per lot (Both Buy & Sell)
For NRI’s – Higher of 1% of the premium amount or Rs.100 per lot (Both Buy & Sell) |
FUTURES MARKET:
Non-Square Off (Carry Forward) Trades:
| Brokerage | Resident Indians – 0.05% or min Rs.25/- or ceiling of 2.5% of transaction value (Both Buy & Sell)
For NRI’s – 0.05% or min Rs.25/- or ceiling of 2.5% of transaction value (Both Buy & Sell) |
Square-Off Trades:
| Brokerage | Resident Indians – 0.025% or min Rs.25/- or ceiling of 2.5% of transaction value (Both Buy & Sell)
For NRI’s – 0.025% or min Rs.25/- or ceiling of 2.5% of transaction value (Both Buy & Sell) |
For the detailed charged please refer to https://www.hdfcsec.com/article/brokeragecharges-3044
Sharekhan
The third full service broker that we will be talking about is Sharekhan.
Sharekhan is the name that most of us are familiar with. They are one of the largest retail brokerages in India. Founded by Shripal Morakhia a Mumbai based entrepreneur in 2000 Sharekhan has been a pioneer in the brokerage space introducing products that are sought after by the clients.Company has the active client base of 1.4 million. Sharekhan is now fully owned subsidy of BNP Paribas and the acquisition was completed in the year 2016.
Following are the brokerage charges charged by Sharekhan
Sharekhan Classic Account
| Segment | Brokerage Fee |
| Monthly Fee (Fixed) | |
| Equity Delivery | 0.50% |
| Equity Intraday | 0.10% |
| Equity Futures | 0.10% |
| Equity Options | Rs 50 per lot |
| Currency Futures | 0.10% |
| Currency Options | Rs 30 per lot |
| Commodity Futures | 0.03% |
| Commodity Options | 0.03% |
Sharekhan Prepaid – ₹1 Lakh
| Segment | Brokerage Fee |
| Monthly Fee (Fixed) | Rs 1,00,000 per year |
| Equity Delivery | 0.10% |
| Equity Intraday | 0.015% |
| Equity Futures | 0.015% |
| Equity Options | 0.05% or Rs 63 per lot |
The commodity and currency futures and options are not part of this
Sharekhan Transaction Charges 2021
| Segment | Transaction Fee |
| Equity Delivery | NSE Rs 325 per Cr (0.00325%) | BSE Rs 275 per Cr (0.00275%) (each side) |
| Equity Intraday | NSE Rs 325 per Cr (0.00325%) | BSE Rs 275 per Cr (0.00275%) (each side) |
| Equity Futures | NSE Rs 190 per Cr (0.0019%) | BSE Rs 50 per Cr (0.00035) (each side) |
| Equity Options | NSE Rs 5000 per Cr (0.05%) | BSE Rs 50 per Cr (0.0005%) (on premium) |
| Currency Futures | NSE Rs 135 per Cr (0.00135%) | MCX Rs 130 per Cr (0.00130%) |
| Currency Options | NSE Rs 4220 per Cr (0.04220%) | MCX Rs 3220 per Cr (0.03220%) (on premium) |
| Commodity | MCX (Non-Agri) Rs 230 per Cr (0.0023%) | MCX (Agri) Rs 95 per Cr (0.00095%) |
All the full services brokers give almost the similar services and the charges are also more or less the same. It is your choice with which full service broker you would like to open your account.
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