Angel One Overtakes Zerodha as India’s Second-Largest Stockbroker

7 Nov 2026, 3:34 pm · 7h ago · 1 min read · OfficeChai

Digital brokerage Angel One has surpassed Zerodha to become India’s second-largest stockbroker by active client count on the National Stock Exchange. Zerodha, which pioneered discount broking in India and long held the top spot, has slipped to third place, while Nextbillion Technology-owned Groww maintains its position as the market leader. Angel One’s rapid ascent has been driven by aggressive client acquisition across tier-2 and tier-3 cities alongside dedicated digital marketing campaigns. The shift reflects intensifying competition in India’s retail trading ecosystem as digital discount brokers vie for market share among new investors.