A true list of top full-service brokers in India 2025 by the number of active clients. ICICI Direct is the top most stock broker among all the brokers. ICICI Bank is followed by discount brokers like HDFC Securities, Sharekhan and Kotak Securities.

There are over 15 top full-service brokerage firms who have over 1 lakh active customers. The below year-wise list helps you find the top rated full service brokerage firms in India.

Top 10 Full-service Brokers 2025

There are two types of brokers in India based on the services and fees:

1. Full-service Broker
2. Discount Broker (Top 10 Discount Brokers)

A full-service broker offers a range of add-ons in addition to trading at stock exchanges. This includes research reports, advisory and a relationship manager apart from helping you buy and sell shares. They also offer a wide range of products including Mutual Funds, IPO, Debt, Insurance and Loans.

On the other side, a Discount Broker leverages technology to reduce the operation cost and offer low-cost online brokerage services. Discount brokers do not offer add-ons usually offered by a full service broker.

A full-service broker is good for following investors/traders:

1. A beginner investors need to have their hand held by some in initial days of trading.
2. Traders who are looking for higher margin or margin funding. A trader can get significantly higher margin based on his personal relationship with the broker or sub-broker.
3. Traders planning to use Call & Trade a lot or visit the branch in person. Most discount brokers charge extra for call & trade and do not have local branches.
4. Investors looking for a verity of financial products for investment through the broker i.e. Mutual Funds, IPO, Debt, Insurance, FD etc.

The most popular full-service brokers include ICICI, HDFC and Sharekhan.

The 3-in-1 account (a combination of bank saving account, a trading account and a demat account) is one the best offering by the top full service brokerage firms. The 3-in-1 account helps in the seamless transaction between these 3 accounts. It is the most convenient way to trade online.

Apart from the standard % based brokerage structure, most traditional brokerages also offer volume-based plans where the brokerage varies according to the size of transactions on a periodic basis. At higher turnovers, the brokerage can come down to as low as 0.05-0.15%.

ICICI is the 2^nd largest and most famous full-service broker with over 10 lakh customers.

Note:

• The data for this report is compiled from BSE and NSE stock exchanges.
• The best broker ranking is updated every month.
• Click on the broker name to read broker review.

Frequently Asked Questions

1. Who is full service broker?

A full-service broker is a brokerage firm that provides a wide range of financial services such as investment advising services, portfolio management, trading platforms and more. Unlike discount brokers, they offer more than just trade execution and cater to various financial needs.

Key Services Offered by Full-Service Brokers:

1. Provide expert recommendations on stocks, mutual funds, bonds, and other investment options.
2. Help clients build and manage diversified portfolios tailored to their financial goals.
3. Offer in-depth market analysis, stock research, and regular reports to assist in informed decision-making.
4. Assist with retirement planning, tax-saving strategies, and more.
5. Provide dedicated relationship managers or advisors for personalized assistance.
6. Facilitate trading in equities, derivatives, commodities, currencies, and more.

Discuss this question

2. What is a full service broker?

Full-service brokers offer a wide range of services in addition to stock trading and investments. These include advisory, research, retirement planning, tax planning, estate planning, and more. They are authorized firms designed to help investors with their financial needs.

To make investing and trading more convenient, most full-service brokers like ICICIdirect, Axis Securities Ltd, Kotak Securities Ltd and more offer a 3-in-1 account, combining a savings account, a demat account, and a trading account.

Full-service brokers offer multiple investment options apart from stocks, such as mutual funds, debt instruments, loans, NRI trading, insurance, etc. They do market research and provide detailed reports to aid their clients in making investment decisions.

3. What is discount broker and full service broker?

4. Which full service broker is best in India?

The best full-service broker in India depends on an investor’s individual needs, such as the range of services, platform usability, brokerage fees, and customer support. Click here to check the Top 10 Full-Service Brokers in India.

5. Who would use a full service broker?

A full-service broker is ideal for investors and traders who seek a broad range of services and personalized financial guidance. These brokers offer more than just trade execution; they provide investment advice, research, portfolio management, and other financial planning services.

• Guidance: Full-service brokers can be a good option for investors who feel uncomfortable making investment decisions independently.
• Investors with large amounts of money: Full-service brokers can be a good choice for investors with a large amount of money or who want to create a complex investment scenario.
• Professional Management: Full-service brokers can be a good choice for investors who want a hands-off approach with experienced management.
• High-net-worth individuals: Full-service brokers can be a good choice for high-net-worth individuals who want to live off the interest and dividends of their investments.

6. What are the advantages and disadvantages of a traditional Full-Service Broker?

Selecting the right brokerage service can impact your portfolio’s success. Full-service brokers are particularly notable for their wide range of offerings and personalised service.

Advantages:

1. Full-service brokers bring valuable knowledge and experience. Their expertise helps clients create investment strategies that align with their financial goals and risk tolerance.
2. To create tailored investment plans, full-service brokers provide personalised guidance by assessing clients’ financial situations, including income, savings, goals, and risk tolerance.
3. Full-service brokers offer various services, including estate and retirement planning, tax advice, and access to IPOs, ensuring comprehensive management of clients’ financial lives.
4. Brokers can access research departments that create detailed reports and forecasts essential for informed investment decisions.
5. Full-service brokers build long-term relationships, providing continuity and trust. Clients have a dedicated contact who understands their financial history and offers timely, personalised advice.
6. Brokers offer a range of investment products, including mutual funds, bonds, commodities, and alternatives, allowing clients to diversify their portfolios and reduce risk.

Let’s look at the disadvantages of Full-service brokers one by one:

1. Full-service brokers charge commissions, account maintenance fees, and other charges. These fees can reduce your returns, especially if you don’t trade frequently.
2. Some Brokers may Churn customers’ portfolios without considering their investment goals to increase their commission.
3. Clients of full-service brokers usually expect significant guidance and personalised investment strategies, which can limit their independent decision-making.

7. Which are services offered by full-service brokers?

Following are the services offered by full-service brokers:

• Provide 3-in-1 accounts (Bank, Demat, Trading) unlike discount brokers.
• Offer tailored investment advice based on goals, risk tolerance, and time horizon.
• Facilitate trading in shares, derivatives, commodities, forex, and other asset classes.
• Monitor and rebalance portfolios with performance analysis.
• Provide financial planning for retirement, education, and wealth building.
• Assign a dedicated professional for investment queries and regular portfolio reviews.
• Assist with tax-efficient strategies and estate planning in collaboration with legal experts.
• Deliver customer service with chatbots, multilingual support, and escalation processes.
• Analyze asset allocation and market dynamics for effective wealth management.

8. How much do full-service brokers cost?

Full-service brokers in India typically charge between 0.03% and 0.60% of the transaction volume. They may also charge a percentage of your portfolio, usually around 1%. Additionally, these brokers might impose hourly fees for strategy discussions or a commission fee for each security bought or sold.

Full-service brokers offer various services, including access to investment platforms, advisory services, and portfolio management. Many have physical offices in major cities and online trading and investing platforms.

Some brokerage firms offer volume-based discounts, where the commission per trade decreases as the trading volume increases.

Courtsey To : Chittorgarh

About Post Author

Maria Stanly

aware@srvibes.com

http://www.srvibes.com

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