Broking App Market Share – April 2026

Active Market Share • Groww – 28.48% • Zerodha – 15.04% • Angel One – 14.74% • ICICI Direct – 4.58% • Upstox – 4.29% User Base Snapshot • Groww: 1.33 crore active users • Zerodha: ~68.8 lakh users What Stands Out • Groww has emerged as the clear market leader in retail broking • Strong adoption driven by: – Simpler onboarding – Mobile-first experience – Strong mutual fund and investing ecosystem • Competition among discount brokers remains intense Learning Outcome In platform businesses, user acquisition and engagement often create strong network effects, helping leaders gain market share rapidly. #BrokingIndustry #Groww #Zerodha #Fintech #StockMarketIndia