Zerodha, Angel One, Upstox, Groww lose active investors in August: Report

India's top four discount broking firms – Groww, Zerodha, Angel One and Upstox – continued to witness an erosion of active investors in August, as they together lost nearly 7 lakh clients, reported Moneycontrol on Wednesday.

The report added that these broking firms collectively lost close to 20 lakh active investors in the first half of 2025 alone.

Not only the top four broking firms, but other prominent firms, including Mirae Asset Capital, PhonePe Wealth, Sharekhan, Kotak Securities and Motilal Oswal Financial also reported declines during the month.

Experts say:
According to the market experts, a sustained fall to a sharp contraction in futures and options activity took place after the Securities and Exchange Board of India (SEBI) introduced stringent regulatory measures in 2024.