Angel One

Angel One is a leading Indian stockbroking and financial services platform that helps people invest in stocks, mutual funds, IPOs, and more. It started in 1996 as Angel Broking and rebranded to Angel One in 2021 to focus on digital investing. The platform is known for its user-friendly mobile app and offers zero brokerage on equity delivery. It charges a flat ₹20 per order for intraday and F&O trades. Angel One is registered with SEBI and listed on both NSE and BSE. It also provides smart investment advice through its AI tool, ARQ Prime. With over 32 million users, it’s one of the most trusted brokers in India.

Origins & Growth (1996–2019)

Founded on August 8, 1996 by Dinesh D. Thakkar in Mumbai, Angel Broking started as a traditional broker serving clients from physical branches. ([turn0search13])
Over the 2000s, it expanded through national branch networks, introduced commodity broking in 2004, and added portfolio management services (PMS) by 2006. ([turn0search13])
In 2011, launched among India’s early mobile trading apps with real-time data and research tools. By 2019, retail onboarding became 100% digital and paperless. ([turn0search13])

Went public in September 2020, listing on NSE and BSE in October. ([turn0search13])
In 2021, it rebranded as Angel One, reflecting its shift into fintech and digital investment services. ([turn0search13])

Client base: Grew 39.5% YoY to 31.02 million. ([turn0search2][turn0search3][turn0search5])
Gross client additions: 9.28 million (up 5.6% YoY). ([turn0search5])
Orders processed: 1.7 billion (up 20.7% YoY).
Average Daily Turnover (ADTO):
- Overall: ₹40,35,200 crore (↑21.6%)
- F&O: ₹39,67,000 crore (↑21.2%)
- Cash: ₹8,100 crore (↑53.3%)
- Commodities: ₹60,100 crore (↑94.4%) ([turn0search2][turn0search5])
Retail Market Share:
- F&O Turnover: 21.0% (↑251 bps)
- Cash Turnover: 16.9% (↑223 bps)
- Commodity: ~59.7% (↑164 bps) ([turn0search2][turn0search5])

Client base stable at 31.02 million.
Orders declined ~31.7% YoY; cash turnover share grew 118 bps QoQ to 16.5%. ([turn0search1][turn0search2])

June 2025: Client base crossed 32.47 million, up 31.3% YoY. Orders and F&O turnover fell ~23.5% YoY. However, commodity turnover rose 69.7% YoY. ([turn0search8])
May 2025: Share price jumped ~2.2% to ₹3,199 after monthly client base report exceeded 31.95 million. ([turn0news12])

Built a full-scale digital ecosystem: trades, mutual funding, advisory, insurance, IPO, US stocks—all inside the Angel One Super App.
Tools like ARQ Prime, Portfolio Analyzer, and SmartAPI make it tech-friendly for both beginners and experienced users. ([turn0search5])
Expanded into tier-2/3 cities, rapidly increasing retail investor penetration. ([turn0search5])

Many highlight ARQ Prime’s AI advisory as a standout feature for portfolio planning.
Strong growth rates—e.g., “PAT growth of 36% & revenue growth of 57% in H1‑25; PE ~18” and “best-ever performance” for Q2 FY25. ([turn0reddit14][turn0reddit15])
Long-time users report reliability:

“Using Angel One since 2017 … no complaints … payouts steady, software stable.” ([turn0reddit20])

Fraudulent or invisible margin funding pledges:

“Automatically Pledging my shares for a facility that I didn’t ask for.” ([turn0reddit18])
UI issues for novice users:

“App is very confusing … fonts are tiny … feels like Angel One is only for experienced users.” ([turn0reddit17])

Period	Milestone
1996	Founded as Angel Broking
2004–2006	Commodity & PMS services launched
2011	Mobile trading platform launched
2019	Completed digital onboarding shift
2020	IPO and public listing
2021	Rebranded as Angel One; expanded fintech integrations
FY24–FY25	Client base grown to 31M+; strong market share gains
Mid-2025	Reached 32.5M clients; stock up on investor optimism

Angel One transformed into a modern fintech platform with a massive digital reach, a diversified product suite, and strong retail penetration. Despite regulatory headwinds and revenue cyclicality in F&O, its rapid client growth, rising market share, and integrated advisory tools mark it as a major player in India’s retail broking space.
But users should stay cautious about unexpected margin pledging, platform quirks, and reported support gaps—testing the platform with smaller trades can help mitigate surprises.