*Mirae Asset Sharekhan active clients post-rebrand (sold to Mirae Asset in Nov 2024)

🏦 Detailed Broker Profiles

1. ICICI Direct

• Background: Pioneer in full‑service broking, integrated with ICICI Bank since the 1990s.
  
  
• Active clients: ~19.4 lakh as of Dec 2024. 
• Key strengths: Robust 3‑in‑1 structure (bank‑demat‑trading), extensive research, Trade Racer platform.
  
  
• Updates: Featured by IBD as top performer in financial services; strong growth expectations for Kotak wealth too highlight sector momentum. 
• Limitations: Higher brokerage and complex interface.
  
  
• Ideal for: NRI clients, long‑term investors, salaried professionals.
  
  

2. Kotak Securities

• Clients: ~15 lakh as of early 2025. 
• Strengths: Strong research support, TradeSmart and KEAT Pro X platforms, thematic investment options.
  
  
• Limitations: Higher charges and UI could improve.
  
  
• Best for: Investors seeking banking integration and curated portfolio tools.
  
  

3. HDFC Securities

• Clients: ~14.2 lakh. 
• Advantages: Reliable brand trust, robust research, range of financial products from insurance to IPOs.
  
  
• New: BlinkX Pro upgrades (2025), improved IPO & UPI features.
  
  
• Challenges: Higher AMC and less user-friendly for beginners.
  
  
• Recommended for: HDFC Bank customers, conservative investors.
  
  

4. Motilal Oswal Financial Services

• Clients: ~10.3 lakh.
• USPs: Award-winning research, PMS, advisory banking, long track record.
  
  
• Updates: AUM crossed ₹2 trillion in 2021; continues to excel in advisory-first broking.
  
  
• Larger user concerns: Interface may be dense for beginners.
  
  
• Best suited for: Research-focused investors & wealth creation seekers.
  
  

5. SBI Securities

• Clients: ~9.8 lakh. 
• Edge: Trust of SBI’s brand, integrated fixed income products, government bond access.
  
  
• Downside: Platform is less intuitive and slower updates.
  
  
• Ideal for: First-time investors and SBI bank customers.
  
  

6. Mirae Asset Sharekhan

• Clients: ~7.1 lakh. Acquisition by Mirae Asset completed November 2024. 
• Strengths: Educational platform (Sharekhan Classroom), strong advisory, offline presence.
  
  
• Limitations: Migration still ongoing, systems evolving.
  
  
• Ideal for: Investors valuing legacy brand + modern wealth management.
  
  

7. IIFL Securities

• Clients: ~4.6 lakh. 
• USP: Hybrid model—lower charges and quality research; voice trading via Alexa.
  
  
• Weakness: Stability issues with app updates.
  
  
• Best for: Young professionals and technology-forward advisory seekers.
  
  

8. Axis Direct

• Clients: ~4.2 lakh. 
• Key features: Axis bank‑linked account, Trade Lab, smart investing tools.
  
  
• Cons: Fee structure remains on higher side.
  
  
• Best for: Axis bank users and goal-based investors.
  
  

9. Geojit Financial Services

• Clients: ~2.5 lakh. 
• Strengths: NRI services, Kerala and South India focus, personal advisory services.
  
  
• Weaknesses: Less advanced app feature set.
  
  
• Ideal fit: Conservative and NRI investors.
  
  

10. Choice Broking

• Clients: ~2.33 lakh. 
• USP: Low-cost pricing with advisory support, fintech tools like Jiffy & Investica.
  
  
• Drawbacks: Smaller brand presence and limited branches.
  
  
• Best for: Millennial investors and startup-savvy users.
  
  

🔧 Live News & Market Context (2025)

• Kotak Mahindra & HSBC/UBS, Motilal sectors are expanding, pushing wealth-management competition in India.
  
  
• Sharekhan’s acquisition by Mirae Asset in Nov 2024 reshapes share brokerage landscape. 

🎯 Choosing the Right Broker

• For trusted banking linkage and deep advisory → ICICI Direct, HDFC, Kotak
  
  
• For research-first investors → Motilal Oswal, IIFL
  
  
• For learning-enabled & hybrid access → Angel One, Mirae Sharekhan
  
  
• For emerging tech-savvy traders → Choice Broking, Geojit