Top 10 NRI Full-Service Brokers in India

Top 10 NRI Full-Service Brokers in India

Stock brokers offering NRI services in India can be categorized into NRI full-service brokers and NRI discount brokers. While they both offer stock broking services, there are many dissimilarities between the two.

NRI full-service share brokers like ICICI Direct,SBI Capital,HDFC Securities,Axis Direct,Motilal Oswal and Sharekhan , are also called traditional brokers as they follow the old school model of offering their services. These share brokers offer entire trading and investment services offline as well as online including PMS, wealth management, research, and stock recommendations, etc. NRI full-service brokerage companies have offices across India where customers can get services.

NRI discount brokers work on the online business model. They are known for their low brokerage plans or flat fee brokerage plans wherein they charge a fixed fee per order as against the percentage-based brokerage plans of full-service brokers. These companies offer their services online, operate from their head offices with little physical presence. The discount brokers rely on technology to provide their services. Popular NRI discount stock brokers include Zerodha , Prostocks,Tradeplus and radejini . Here's the complete list of NRI full-service brokers in India by active clients.


RankBrokerAcct Opening FeeActive ClientsBrokerageRequest CallbackReview
1 Sharekhan  552,8970.50% Open Account
2 AxisDirect  283,378 0.75% Open Account
3 Zerodha ₹5001,746,6140.1% or max ₹200 per trade Open Account
4 HDFC Securities  0.75% 729,868 Open Account
5 ICICI Direct  0.50% - 1.25% 1,091,830 Open Account
6 Kotak Securities  604,820 1.00% Open Account
7 IIFL Securities  228,4670.50% Open Account
8 Angel Broking  680,090   Open Account
9 Ventura  76,9060.40% Open Account
10 Karvy  215,2720.75% Open Account

NRI discount brokerage companies' key USP is their brokerage rates. Discount brokers like erodha,Prostocks and Tradeplus etc., pioneered the flat fee brokerage system wherein a trader is charged a flat fee per order irrespective of the trading value. For example, Prostocks offer ₹100 Per Executed Order, the cheapest brokerage for NRI trading in India. When you compare the brokerage charges of discount brokers with full-service brokers, you will find at least a 60% difference in the brokerage fees.

The other USP of the NRI discount stock brokers is their online trading platforms. Right from the account opening process, trading to customer support, these brokers heavily leverage technology in their processes. Zerodha is the best discount brokerage firm when it comes to offering technology-enabled services to its customers. Beyond trading platforms, these companies also offer trading tools for trade analysis, algo trading, and portfolio management.

The brokerage charged by NRI full-service brokers is percentage-based, however, some of them have also started offering flat fee brokerage to their customers. The brokerage fee charged by them may look higher but if you consider the additional services like branch services, research, and advisory, dedicated Relationship Managers, etc., it looks reasonable.

NRI share brokers like ICICIDirect, SBI Capital and Axis Direct, etc., also have offices in many foreign locations. This helps NRIs living in those locations to visit these offices and get instant redressal to their issues.