Zerodha — Best Overall Broker for IPO

Zerodha is India’s leading discount broker founded in 2010 by Nithin Kamath and Nikhil Kamath in Bengaluru. As of February 2026, Zerodha serves over 68.6 lakh active clients with a market share of 15.21%.

For IPO investors, Zerodha offers a seamless application experience through its Kite platform and Console dashboard. Applications can be submitted via UPI in under 2 minutes. Zerodha’s education platform Varsity is considered the best free stock market learning resource in India.

Pros: Best trading platform (Kite), excellent customer support, Varsity education platform, most trusted brand, zero equity delivery brokerage.
Cons: No branches nearby for in-person support, ₹300/year Demat AMC.
IPO Application: Free via UPI through Kite app or Console.
Verdict: Best choice for serious investors who want a reliable, feature-rich platform.

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Groww — Best for Beginners

Groww is India’s largest broker by user base, founded in 2016 in Bengaluru. The platform is known for its clean, simple interface that makes it easy for first-time investors to get started.

Groww offers completely free Demat account with zero annual maintenance charges — making it the most cost-effective option for investors who trade infrequently. IPO applications on Groww are straightforward and beginner-friendly.

Note: Groww itself recently filed for an IPO, indicating its strong growth trajectory.

Pros: Zero AMC, simplest interface, best for beginners, free direct mutual funds.
Cons: Higher delivery brokerage (₹20 or 0.1%), no NRI account, limited advanced features.
IPO Application: Free and simple via Groww app.
Verdict: Best choice for beginners and investors who primarily invest in mutual funds and IPOs.

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Upstox — Best for Speed and Performance

Upstox is a Ratan Tata-backed broker known for fast order execution and competitive pricing. It offers free account opening with zero AMC for the first year.

Upstox Pro is a powerful trading platform with advanced charting features. For IPO investors, Upstox provides quick and reliable application through its app using UPI mandate.

Pros: Fast execution, backed by Ratan Tata, free first year AMC, competitive pricing.
Cons: AMC charged from second year, customer support response can be slow.
IPO Application: Free via UPI through Upstox app.
Verdict: Good choice for active traders who want speed and performance.

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Angel One — Best Full Service Broker

Angel One (formerly Angel Broking) was established in 1996 and has evolved from a traditional full-service broker to a modern discount broker. With over 900 branches across India, Angel One is the most accessible broker for investors who prefer in-person support.

As of February 2026, Angel One serves 67.4 lakh active clients with 14.95% market share. The broker offers research reports, advisory services, and a comprehensive app for all types of investors.

Pros: 900 branches nationwide, research reports, NRI trading available, long established history.
Cons: ₹240/year Demat AMC, interface less intuitive than Zerodha or Groww.
IPO Application: Free via UPI through Angel One app.
Verdict: Best choice for investors who want branch support and research advisory.