India's leading discount brokers, including Zerodha, Groww, Angel One, and Upstox, have experienced a significant decline in active retail trading clients during 2025. Zerodha reported the largest loss with approximately 12.68 lakh clients, followed by Groww with nearly 10.32 lakh, and Angel One with around 9.96 lakh. This trend indicates a substantial slump in retail trading activity across major platforms.