Top 10 NRI full-service brokers in India, For NRIs, the process of investing in India is different from the process of investing in a foreign country. Unlike in other countries, there are no unique investment opportunities for NRIs in India. Investment in India is allowed only through the financial institutions and banks that are authorized by the Reserve Bank of India (RBI). The RBI regulates all financial institutions in India, including banks, insurance companies, and stock exchanges.
Table of Contents
What are full-service brokers in India?
Non-resident Indian (NRI) brokers are full-service brokers that provide a wide range of services to clients. These services can include investment banking, asset management, and other financial services. NRIs are typically based in India but have citizenship in another country. In order to qualify as an NRI broker, the firm must have a valid license from the Securities and Exchange Board of India (SEBI).
Top 10 Full-service brokers in India
The list of top 10 Full-service brokers in India is given below. Always remember that dealing with any stock broker needs well-developed research then only approach at your own risk.
ProStocks
Sunlight Broking LLP’s ProStocks is a renowned online brokerage service that allows consumers to invest and trade in equities listed on the Indian Stock Exchange. Customers can trade equity cash (intraday and delivery), equity derivatives (futures and options), currency derivatives (futures and options), and depository services on the BSE and NSE. We plan to launch Mutual Fund Services soon.
They are a registered broker/member of the BSE (Membership ID: 6635), the NSE (Membership ID: 90084 Web | Pdf), and a CDSL participant. We are a SEBI-registered stockbroker (SEBI Registration Number: INZ000048660) and a Depository Participant (SEBI Registration no.: IN-DP-280-2016).
ICICIdirect
ICICI Direct is an ICICI Securities retail trading and investing service. It provides services both online and through a network of branches spread across India.
ICICIDirect.com, the company’s flagship website, provides online equity trading, derivatives trading, mutual funds, IPOs, fixed deposits, bonds, NCDs, wealth products, insurance, and loans, among other services. All of these services are available to ICICI Direct customers with a single account.
ICICI Direct provides a 3-in-1 account that combines a savings account, a stock trading account, and a Demat account. With real-time money transfers from the bank to the trading account and automated debit/credit of securities from the Demat account, the ICICI 3-in-1 account allows seamless trading.
Kotak Securities
Kotak Securities Limited (KSL), a subsidiary of Kotak Mahindra Bank, is one of India’s major full-service stock brokerage businesses, serving individual and institutional clients across all capital market categories.
The firm also gives direct access to US markets through a partnership with partner brokers. KSL conducts thousands of secondary market deals every day, thanks to strong research staff, a powerful digital trading platform, a huge branch network, and franchisee base, and referral coordinators dispersed over Kona Kona of India.
KSL offers a wide range of services, including stocks, derivatives (equities, commodities, currencies), and mutual funds. In addition, it provides margin trading finance, depository services, and third-party products such as insurance.
HDFC Securities
HDFC Securities, founded in 2000, is one of India’s largest full-service stock brokers. This is a wholly owned subsidiary of HDFC Bank. Customers can trade and invest in stocks, bonds, futures, options, buybacks, mutual funds, IPOs, currency derivatives, commodities, stock portfolios, and so on. It is a SEBI-registered broker and a BSE, NSE, MCX, CDSL, and NSDL member.
HDFC Securities offers trading services through a variety of trading platforms, making it easy for users to invest. Customers can also invest by phone or in person at a branch.
HDFC Securities offers over 30 products and has over 1,800,000 clients from diverse industries. The firm has around 270 branches throughout India.
IIFL Securities
IIFL Securities, founded in 1995, is one of India’s leading full-service stockbrokers. This is a subsidiary of the IIFL Group, a significant provider of financial services. The IIFL brand is well-known for the quality of its advice, customized service, and utilization of cutting-edge technology.
IIFL Securities provides online trading and research-based advice services for a wide variety of financial instruments, including stocks, derivatives, commodities, insurance, FDs, loans, IPOs, and bonds.
IIFL has a single straightforward flat-rate brokerage option. This bargain brokerage package allows you to trade across all sectors, including equities delivery, for a flat Rs 20 per executed order.
Sharekhan
Sharekhan, founded in February 2000, is India’s third biggest stock broker (after ICICI Direct and HDFC Securities). This offers brokerage services through its online trading website Sharekhan.com and has 1800 offices in over 550 locations across India, including branches and franchisees. This also has a presence in the United Arab Emirates and Oman.
Sharekhan caters to a wide range of consumers, including individual investors and traders, and corporate, institutional, and non-resident Indians (NRIs). Sharekhan has over 17 lakh customers as of December 2018. It provides trade execution services for the equities cash and derivatives divisions on the BSE and NSE, as well as commodities trading services on the MCX and NCDEX. Sharekhan additionally provides depository services (Demat account) and the ability to invest in mutual funds and IPOs. Sharekhan.com is the best stock investment website in India.
AxisDirect
Axis Securities Ltd, founded in 2005, is a subsidiary of Axis Bank, India’s largest private bank. Axis Sec is a full-service broker that provides stock brokerage services as well as financial product distribution to retail consumers in India under its AxisDirect brand. AxisDirect is one of India’s top ten stock brokers, with over 4.2 lakh active customers.
This allows you to invest in stocks, mutual funds, SIPs, IPOs, derivatives, bonds, NCDs, ETFs, and company fixed deposits. AxisDirect provides a 3-in-1 account that combines trading, Demat, and bank services.
Choice Broking
Choice Equity Broking Pvt. Ltd (often known as Choice Broking) is a Mumbai-based full-service stockbroking business founded in 2010. It is a subsidiary of Choice International Limited, a publicly traded financial services company founded in 1993.
This provides online trading as well as premium financial services for a wide variety of financial products such as equity, derivatives, currency, commodities, mutual funds, wealth management, portfolio management, insurance, and loan against shares. The firm is a CDSL and NSDL depository member, as well as a member of the NSE, BSE, MCX, NCDEX, and ICEX. When compared to other full-service brokers in the business, Choice Broking’s brokerage prices are said to be among the lowest in India. This is in the Top 10 NRI full-service brokers in India.
Ventura
Ventura Securities Ltd, founded in 1994, is a well-known Mumbai-based stock broker. It offers a diverse variety of financial products and services through over 30 locations and over 500 business partners (sub-brokers and franchisees) in over 300 Indian towns.
This is a full-service brokerage firm that offers broking, research, and advisory services to institutions (both international and domestic), high-net-worth individuals, and retail or individual investors. They serve a wide range of customer needs, from financial planning to asset management.
Clients of Ventura Securities can invest in and trade stock and equity derivatives, commodities, mutual funds, fixed income products, and currency futures.
Ventura Securities Ltd. is a National Securities Depository Limited (NSDL) depository participant (DP) and a member of the NSE, BSE, and MCX.
Anand Rathi
Anand Rathi Wealth is one of India’s largest non-bank wealth solutions providers, and it is one of the country’s top three non-bank mutual fund distributors. To its clients, the firm provides a diverse product range of wealth solutions, financial product distribution, and technological solutions. The firm primarily offers services through its flagship Private Wealth (PW) vertical, which manages 294.72 Bn in AuM as of August 31, 2021. Through a staff of 233 RMs, the company’s PW segment serves 6,564 active client families. Aside from the PW vertical, the company has two additional new-age technology-led business verticals: Digital Wealth (DW) and Omni Financial Advisors (OFA).
The corporation has established a monopoly in the distribution of financial products. This is in the Top 10 NRI full-service brokers in India.
Aditya Birla Money
Aditya Birla Money Ltd (ABML), founded in 1994, is a subsidiary of Aditya Birla Capital Limited and is located in Chennai. Apollo Sindhoori Capital Investments was the company’s previous name. It operates as a stockbroker and is a member of the BSE and NSE. It is also a Depository Participant with National Securities Depository Limited (‘NSDL’) and Central Depository Services (India) Limited (‘CDSL’) and possesses a Portfolio Management Services (PMS) license from SEBI. Aditya Birla Commodities Broking Limited, the company’s wholly-owned subsidiary, provides commodities trading services. It is also a SEBI-licensed Research Analyst and Investment Adviser.
ABML provides a variety of services, including securities brokerage, portfolio management, and depository and e-insurance repository services. This is in the Top 10 NRI full-service brokers in India.
Conclusion
Top 10 NRI full-service brokers in India, An estimated 15 million people of Indian origin live and work abroad, according to the World Bank. They are often termed Non-Resident Indians (NRI), Overseas Citizens of India (OCI), or Persons of Indian Origin (PIO). NRIs, OCIs, and PIOs are citizens of other countries who have ancestral ties to India, usually as a result of Indian immigration. This guide covers the top 10 full-service brokers in India that serve the NRI community.