Below is a concise, practical guide to the best online brokers for Indian investors (as of current market reports and reviews). I’ve grouped brokers by the typical investor they suit and included the key pros/cons so you can pick quickly. Note: brokerage plans and features change frequently — check the broker’s pricing page before opening an account.

Top-level market context

• Leading platforms by active clients include Groww, Zerodha, Angel One, Upstox and ICICI Securities — these are widely used across India. (forbesindia.com)

Best low-cost / discount brokers (cost-conscious investors, frequent traders)

• Zerodha

  • Why pick it: Very popular discount broker with simple, transparent pricing (flat/low brokerage for intraday & F&O; equity delivery often free), fast Kite platform and strong developer/tools ecosystem. Good for active traders and long-term investors who want low costs. (WealthWiseGuide.com)
  • Watchouts: DP/transactional charges, certain advanced research/features are limited compared with full-service brokers. (BestTradingApp.in)

• Upstox

  • Why pick it: Flat-fee pricing (low/₹20-per-order style charges), solid mobile/web platforms with TradingView/ChartIQ integration, quick digital onboarding — attractive for intraday/F&O traders and beginners seeking low costs. (BestBrokersIndia.com)
  • Watchouts: Occasional app downtime reported during market volatility; customer support can be slower during peaks. (InstockBroker.com)

• Groww

  • Why pick it: Extremely user-friendly one‑stop app for stocks, direct mutual funds, IPOs and more — popular with new investors and SIP/mutual-fund investors; discount-broker pricing for equities. (Bullsong.com)
  • Watchouts: Fee tweaks and minimum/flat-fee effects on very small trades have caused user complaints — read current brokerage details carefully. (Bullsong.com)

Best full-service / research-heavy brokers (investors who value advice and banking integration)

• ICICI Direct

  • Why pick it: Full-service broker integrated with ICICI Bank, strong research, advisory, and wide product access (mutual funds, PMS, derivatives, IPOs). Good if you want dedicated research and banking linkage. (forbesindia.com)
  • Watchouts: Higher brokerage and charges versus discount brokers.

• HDFC Securities, Kotak Securities, Motilal Oswal

  • Why pick them: Established full-service firms with research, advisory, wealth-management options and branch/phone support — suited for investors who value service and hand-holding more than lowest cost. (forbesindia.com)
  • Watchouts: Higher commissions; compare bundled “broker + research” plans before you commit.

Best for investors who want advanced advisory/automation

• Angel One
  • Why pick it: Large user base, ARQ rule-based advisory, broad product range and intuitive app. Good for investors wanting automated ideas and a one‑stop solution. (Forbes.com)
  • Watchouts: Interface can feel cluttered to some; active traders may prefer more advanced charting platforms.

Other considerations (help pick the right broker for you)

• Cost vs service: If you trade frequently, discount brokers (Zerodha, Upstox, Groww, Angel One) usually save you the most. If you want research/advice or banking integration, consider ICICI Direct / HDFC / Kotak / Motilal Oswal. (WealthWiseGuide.com)
• Product needs: Check whether the broker supports the specific segments you want — equity delivery, intraday, F&O, MCX commodities, currency, IPOs, US stocks, mutual funds, NPS, PMS, margin/loan products, etc.
• NRI rules: NRIs must follow PIS/non-PIS account rules; some brokers (Zerodha recently simplified NRI onboarding and pricing) have made NRI access easier — verify current NRI processes with the broker. (economictimes.indiatimes.com)
• Hidden/ancillary fees: Look at DP charges, call-and-trade, margin funding, AMC for demat, and GST/SEBI/exchange levies. Small recurring charges can change the cost equation for low-volume investors. (BestTradingApp.in)
• Platform quality & uptime: Read recent app reviews — some platforms report slowdowns during volatility; execution speed matters for active traders. (BestBrokersIndia.com)

If you want, I can:

• Narrow this to “best for beginners”, “best for day traders”, or “best for NRIs” and give my top 2 picks for each; or
• Compare 2–3 brokers side-by-side on fees, features and pros/cons based on the most recent pricing pages.

Which would you like next?