Top five digital brokers corner over half of industry's active client base

Despite breakneck growth, not all brokers are consistently churning out a profit

The top five digital-only brokers have cornered more than half of the industry’s active client base, signifying a seismic shift in the pecking order among domestic brokerages. 

Zerodha, Upstox, Angel One (formerly Angel Broking), 5paisa, and Groww had cornered a market share of over 53 per cent until the end of July, with a cumulative tally of 12.6 million active clients. This figure stood at 17 per cent at the end of FY19. The share of the top five traditional brokers whittled to 22 per cent, from 33 per cent during the same period. 

The Covid-19 pandemic was a tipping point for