Best Stock Broker in Mumbai – Compare Top 10 Stock Brokers in Mumbai

Mumbai which was known as Bombay until 1995, is a famous port city situated on the west coast of the Indian peninsula. It is one of India’s leading metropolitan centers and one of the largest and most densely populated cities in the world. Almost all top stock brokers are headquartered out of Mumbai. They have their head office registered at Mumbai. Moreover the two main stock exchanges NSE and BSE are also located in Mumbai. So in this article you will get to know about a few well known stock brokers in Mumbai.

Best Stock Brokers in Mumbai

There are numerous stock brokers based in your city. Here, we will solely discuss the leading brokers. The following is a list of Mumbai's top 10 brokers.

Zerodha Stock Broker
Upstox Stock Broker
Angel Broking Stock Broker
5Paisa Stock Broker
India Infoline (IIFL) Stock Broker
Anand Rathi Stock Broker
ICICI Direct Stock Broker
Aditya Birla Money Stock Broker
HDFC Securities Stock Broker
Trade Smart Online Stock Broker

Zerodha Stock Broker

Zerodha is India's most popular stock broker. ICICI Direct and Sharekhan have the second and third most active consumers, respectively. In contrast to ICICI Direct, Zerodha charges a flat Rs. 20/trade cost regardless of the transacted value. Furthermore, there is no fee for deals depending on delivery. Zerodha Mumbai Branch Address: 3rd Floor, B Wing, Vasudev Chambers, Opp. Wilson Pen Company, Old Nagardas Road, Andheri East Mumbai 400069

In just 15 minutes, you can open an online bank account. There's no need to go to a physical location; everything can be done online. For individuals who open their accounts online, a discount of Rs. 200 is offered as well. It costs Rs. 400 to register an offline account and Rs. 200 to start an online account.

Upstox

RKSV Securities was the previous name of Upstox. They have a headquarters in Mumbai.

After Zerodha, they are India's second-largest discount broker. Upstox and Zerodha both charge similar brokerage fees.

Upstox address at Mumbai: 30th Floor, Sunshine Tower, Senapati Bapat marg, Dadar. Mumbai 400013

Angel Broking

Since 1987, Angel Broking has been in the brokerage business. The company's headquarters are in Mumbai.

Previously, they charged a percentage of the total amount of the transaction as a form of brokerage. The discount broker model, which is identical to Zerodha, has recently been embraced by them.

Currently, there are no account opening fees, and the AMC fee for the first year is also eliminated.

Angel Broking Office address at Mumbai: Ackruti Trade Center, MIDC, Andheri (E), Mumbai 400093

5 Paisa

5Paisa is India Infoline's online bargain brokerage division (IIFL).

IIFL is a Mumbai-based stockbroker. It is owned by a full-service stock broker.

Until recently, 5Paisa charged Rs. 10 per trade, making it a more affordable alternative to Zerodha. However, they've now lowered the price to Rs. 20 per deal. In addition, the cost of delivery brokerage services is not inconsequential.

5Paisa Office Address at Mumbai: Sun Infotech Park, Road No. 16V, Plot No. B-23 Thane Industrial Area, Wagle Estate, Thane-400604

India Infoline (IIFL)

Full-service broker India Infoline is one of India's best-known names in the industry. In 1995, IIFL became a reality.

For more than two decades, they have been held in high esteem. They devote a large portion of their profits to research, which results in high-quality research reports.

In addition to stocks, they offer trading in derivatives, commodities, currencies, and other monetary assets. In addition, they offer consultation services.

IIFL's brokerage fees are competitive with those of other full-service brokers.

The account opening charge is currently waived for online account opening. An additional benefit is the elimination of the first year's Annual Maintenance Charge (AMC).

IIFL Office Address in Mumbai: MMGS Marg, Dadar East, Mumbai-400014

Conclusion

Many factors must be taken into account when looking for the finest stock broker in mumbai. This list of the top 10 brokerage firms in Mumbai has been compiled and details about the top 5 has been provided to give you as much information as possible about these firms.