TOP STOCK BROKERS LOST NEARLY 20 LAKH ACTIVE INVESTORS IN FIRST HALF OF 2025

According to data from National Stock Exchange, the top four brokers in India have lost nearly 20 lakh active investors in the first half of 2025. Despite the markets delivering positive returns during four consecutive months, stock brokers like Groww, Zerodha,

, and Upstox have collectively lost nearly 6 lakh active investors in June 2025 itself. One of the major reason for decline in active investors is the waning interest of Futures and Options (F&O) trading due to stricter regulatory norms introduced by the markets regulator, Securities and Exchange Board of India (SEBI) last year. This stricter regulatory measures include tighter margin requirements, reduced weekly expiries, higher capital thresholds, and increased taxation, thereby making derivatives trading significantly less attractive to retail investors. Interestingly, these top stock brokers have collectively added nearly 1 crore new active investors in the year 2024, and therefore the losses in first half of 2025 constitute a small percentage of their overall user base.