Top 50 Largest Stock Brokers in India (April 2026)

The Indian stock broking market has hit new highs. As of April 30, 2026, the active clients for all SEBI registered brokers have crossed 4,57,65,013, signifying a continuation of the rise in retail participation within Indian financial markets. It is driven by improved financial literacy coupled with the convenience of online investing, which has enabled investment to be made from any corner of the country via a smartphone.Two categories of brokers exist in India discount brokers and full service brokers, whose competition is growing fiercer by the day, led by technology-powered flat-fee brokers.Key takeaways:The exchange has a total of 4.57 crore active clients as of April 30, 2026, across all the brokers.An active client refers to a client who has carried out at least one transaction between May 1, 2025, and April 30, 20264 of the top 5 brokers, ranked in terms of active clients, are discount brokers.Groww has continued to top the list as the largest broker with more than 1.30 crore active clients.As of April 2026, Raise Securities Private Limited (Dhan) surpassed the 1 million milestone with 10,51,951 active clients.The list of the top 50 largest stock brokers in India as of April 2026 by active clients is given below. RankStock Broker’s NameNo. of active clientsAddition/ ChurnRank Change1Groww Invest Tech Private Limited1,30,32,121+92,994-2Zerodha Broking Limited68,83,999-9,754-3Angel One Limited67,43,840-19,066-4ICICI Securities Limited20,97,085+9,675-5Upstox Securities Private Limited19,61,826-26,102-6Kotak Securities Ltd.13,85,446+2,6297HDFC Securities Ltd.13,79,984-11,5848SBIcap Securities Limited11,60,277-3,653-9Raise Securities Private Limited10,51,951+14,919-10Motilal Oswal Financial Services Limited9,01,868+78-11Paytm Money Ltd.8,61,706-14987-12Indstocks Private Limited6,93,526+216-13Sharekhan Ltd.5,30,958-991-14Axis Securities Limited4,28,671-1,430-15IIFL Capital Services Ltd.3,41,109-1,692-165Paisa Capital Limited3,31,486-3,484-17Choice Equity Broking Private Limited2,50,748-3,770-18Mirae Asset Capital Markets ( India ) Private Limited2,32,231-13,542-19Geojit Investments Limited2,16,303-79720Phonepe Wealth Broking Private Limited2,13,303-8,84421Fyers Securities Private Limited2,00,810-349-22SMC Global Securities Ltd.1,60,107-129-23Aaritya Broking Private Ltd1,50,011+21,85924Anand Rathi Share And Stock Brokers Limited1,48,522+1,57225Nuvama Wealth And Investment Limited.1,41,361-31926Jainam Broking Limited1,37,916+2,055-27Religare Broking Limited1,36,847-58628Nirmal Bang Securities Pvt. Ltd.1,35,763-2129Jm Financial Services Limited1,14,615-1430Finvasia Securities Private Limited98,418-1,40631Alice Blue Fin Svcs P Ltd93,621+34032Yes Securities (India) Limited92,923+1,52233Tradebulls Securities (p) Ltd.78,034+11234Stockholding Services Limited75,976-23135NJ India Invest Private Limited74,762-936Aditya Birla Money Limited68,417+22837Nu Investors Technologies Private Limited67,432+11,90038Moneywise Finvest Limited66,717+5,01939Bajaj Financial Securities Ltd.60,870+92540Master Capital Services Limited59,213+1941Jhaveri Securities Limited58,508+2442IDBI Capital Markets & Securities Ltd.58,332-595 -43Globe Capital Market Limited54,618-29444Bonanza Portfolio Ltd.53,907+6245Arihant Capital Markets Limited53,173+62146Swastika Investmart Limited52,199-72447Indiabulls Securities Limited (formerly Known As Dhani Stocks Limited)50,875+5,37948Integrated Enterprises (India) Private Limited50,631+1349Samco Securities Limited50,359-873 -50Reliance Securities Limited49,090-348 To summariseThe broker market share India in April 2026 has become highly competitive, with the top 10 brokers having the majority of all active retail participation. The data mentioned above clearly shows an ongoing structural trend in Indian financial markets that technology-first discount brokers with flat-fee pricing are growing faster, while full-service brokers retain steady relevance among investors who are looking for in-depth research, advisory services, and banking integration. All the above-mentioned brokers are SEBI-registered brokers, and investors can check the registration status of any broker on the SEBI Intermediaries Portal before opening an account. This monthly NSE data reflects the actual trading activity and not just registered accounts, which is the most objective measure for market participants for comparing broker scale in India.

Top 50 Largest Stock Brokers in India (April 2026)

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