Below are the top stock-trading platforms/brokers in India (2025), with a short note on who each is best for and key strengths. Rankings below reflect market-share / active-client data reported in 2025 by exchanges and major Indian business press; I’ve cited the most relevant sources.

1. Groww — Best for beginners / seamless investing in stocks + mutual funds + IPOs

• Strengths: Very user-friendly mobile/web UI, strong retail onboarding, direct mutual-fund platform (Coin-like), competitive pricing on equities and F&O for retail. Led the market in active clients in FY25. (business-standard.com)

2. Zerodha — Best for active traders & advanced charting (Kite) / low-cost discount brokerage

• Strengths: Mature platform with advanced tools (Kite, smallAlgo, Pi historically), broad third‑party integrations, competitive pricing and strong reputation for stability and low fees. Still one of the largest brokers by active clients; continues to hold a large share of retail trading volumes. (forbesindia.com)

3. Angel One (Angel Broking) — Best for a balance of advisory + tech-enabled discount broking

• Strengths: Strong growth in clients, combination of advisory/research and discount brokerage options, good app and research content; widely used by retail investors across India. (business-standard.com)

4. Upstox — Best for cost-conscious traders and tier‑2/3 reach

• Strengths: Discount-broker pricing, improving product set for active traders, large registered base with strong growth in smaller cities; competitive for F&O and equities trading. (Moneycontrol.com)

5. ICICIdirect — Best for full-service banking integration & research

• Strengths: Full-service broker (research, advisory), deep integration with ICICI Bank accounts, strong for customers who want one ecosystem for banking, demat and broking. Large legacy client base. (forbesindia.com)

6. HDFC Securities — Best for HDFC Bank customers and conservative investors

• Strengths: Strong research, integrated banking/broking experience (if HDFC Bank customer), good customer service and branch network. (forbesindia.com)

7. Kotak Securities — Best for consolidated banking + broking with branch support

• Strengths: Similar advantages for Kotak Bank customers; solid research and advisory services plus retail trading capabilities. (forbesindia.com)

8. Motilal Oswal — Best for research-driven investors and PMS/wealth products

• Strengths: Renowned research arm, portfolio management services (PMS), good for serious investors seeking advisory and long-term wealth solutions. (forbesindia.com)

9. SBI Securities — Best for trust/PSU-backed convenience and retail access

• Strengths: Backed by SBI group, integrated services, wide reach and branch support; suitable for conservative retail investors. (forbesindia.com)

10. Paytm Money / PhonePe / newer rivals — Best for mobile-first users and cost-sensitive beginners

• Strengths: Fintech entrants (Paytm Money, PhonePe’s broking push, INDmoney, Dhan etc.) have rapidly expanded user bases via integrated payments ecosystems and app-first flows; increasingly competitive on pricing and convenience. Note: client-share dynamics have shifted through 2024–2025, with some incumbents losing active clients and smaller rivals gaining ground. (m.economictimes.com)

Notes and what to consider when choosing

• Pricing model: Discount brokers (Zerodha, Upstox, Groww, Angel One) generally charge low flat fees or zero brokerage on equity delivery; full-service brokers (ICICI Direct, HDFC Sec, Kotak) charge higher brokerage but include richer research/advice. Fee structures change, so check current brokerage, transaction charges, and GST before opening an account. (business-standard.com)
• Product needs: If you want advanced charting, algos, and derivatives trading, prioritize Zerodha, Upstox or Angel One. For mutual funds + SIPs and IPOs with a simple UI, Groww and Paytm Money are strong. For integrated banking + broking, choose ICICIdirect/HDFC/Kotak. (Bullsong.com)
• Safety & regulation: All major brokers listed operate under SEBI regulation and use CDSL/NSDL demat services. Always verify disclosures, client margin rules, and check recent regulatory notices that can affect product availability (e.g., F&O curbs or expiry rule changes). (m.economictimes.com)
• Market dynamics (2024–2025): The retail-broker ranking shifted in 2024–25—Groww rose to lead active clients in FY25 while Zerodha/others saw relative declines; newer fintechs and super‑apps have been gaining traction. Use the latest NSE active-client reports or reliable business outlets when you compare current numbers. (business-standard.com)

If you’d like, I can:

• Compare 2–3 platforms you’re choosing (fees, margin, features) side-by-side using current fee schedules, or
• Pull the latest NSE active-client report or 2025 broker market‑share table and show the precise numbers and sources.

Which follow-up would you prefer?