Top Brokers in 2025

📌 Zerodha

Origin (2010): Founded by brothers Nithin & Nikhil Kamath on 15 Aug 2010 to remove barriers (“Zerodha” = zero + rodha).
Growth: Fastest to 1 million users; by 2024 had 7.5M active traders; now over 1.6 crore.
Model: ₹0 delivery, ₹20 flat intraday/F&O.
Platforms: Kite, Coin, Console, Varsity.
Updates: Q1 ’25 brought new option chains, API enhancements, automated order slicing, improved Coin & Console.
Challenges: System outages reported during volatility.
Leadership: Nithin’s advice to avoid trading during volatility, and that he wouldn’t restart Zerodha in today’s crowded market.
Community: Rainmatter invests in fintech startups; launched Zerodha Fund House (Oct 2023) and FLOSS fund (Oct 2024).
Why Choose Zerodha? Tech-first model with powerful DIY tools.

✨ Upstox

Origin (2011): Founded in December 2011 as RKSV Securities by Ravi & Raghu Kumar and Shrini Viswanath.
Growth: 1.3 crore users; broke Demat records; MCX award winner.
Model: ₹0 delivery, ₹20 flat intraday/F&O.
Platforms: Upstox Pro with advanced orders.
Updates: Added 3-in-1 with IndusInd Bank; introduced UpLearn; TradingView integration.
Positioning: Perfect for mobile-first active traders.

💡 Angel One

Origin (1996): Founded by Dinesh Thakkar as Angel Broking; IPO in Oct 2020; rebranded in 2021.
Growth: Client base jumped over 3.19 crore in May ’25 (+34% YoY).
Model: ₹0 delivery, ₹20 intraday/F&O.
Platforms: Angel One Super App, Trade, SmartAPI.
Updates: Q1 ’25—Wealth AUM +34% QoQ; launched web F&O toolset; security breach investigated (Feb ’25); BofA stake acquired (May ’25).
Positioning: Full-service with robust hybrid tools, portfolio advisory, institutional backing.

🌱 Groww

Origin (2017): Started as an MF platform; IPO / stock access came later.
Growth: Over 70 lakh users; expanded into stocks, FDs, SGBs, NPS.
Model: ₹0 delivery, ₹20 intraday.
Updates: Launched gold, fixed deposits, NPS, acquired IndMoney MF arm.
Positioning: Ideal for beginners and goal-based investors.

🏦 ICICI Direct

Origin: Part of ICICI Bank’s financial services; 3-in-1 banking with trading.
Clients: 60 lakh+ high net-worth customers.
Model: Percentage brokerage.
Platforms: ICICIdirect Markets, with basket investing and tax tools.
Updates: 2025 added basket investing, tax optimization, updated app.
Positioning: For investors wanting security, research, and banking tie-ins.

🏛️ HDFC Securities

Origin: Trusted broker tied to HDFC Bank; offers 3-in-1 account.
Clients: Over 40 lakh investors.
Model: Percentage brokerage.
Platforms: BlinkX Pro; wealth and insurance offerings.
Updates: 2025 upgrades—UI, UPI payments, improved IPO flow.
Positioning: Traditional investors seeking deep guidance.

💰 5Paisa

Origin: Part of IIFL; aims for cost-efficient broking.
Clients: 30 lakh+ investors.
Model: ₹10 flat per trade, subscription packs.
Platforms: Stocks, MFs, gold, insurance, loans.
Updates: 2025 rolled out algo-trading portal, new MF baskets, UI revamp.
Positioning: For cost-aware traders wanting full-suite fintech.