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If you are looking forward to starting trading or investing in India, this post will guide you on choosing the Best Demat Account For Beginners. I have researched various Demat account options in India, spending some hours.

In this post, I will share as many as ten great Demat account options. If you stick to the post till the end, you will certainly find the best Demat account for beginners as per your requirements.

Best Demat Account For Beginners In India 2024

1. Upstox Demat Account

In our personal opinion, Upstox is the best demat account for beginners in India in 2023. Upstox was founded way back in 2009 by Ravi Kuman, Raghu Kumar, and Srinivas. The company has its headquarters in Mumbai. Upstox is one platform with multiple investment opportunities comprising stocks, mutual funds, IPOs, Futures & Options. The platform is ideal for long-term investors, pro traders, and part-time traders.

Upstox Account Charges

  • Demat Opening Charges: NIL
  • Commodity Opening Charges: NIL
  • Annual Maintenance Charges (AMC): Rs 300 per year

Upstox Brokerage Charges

  • Equity: Rs 20 per trade (Intraday & Delivery)
  • Futures & Options: Rs 20 per trade

Pros

  • Zero charges on account opening
  • One platform for stocks, mutual funds, IPOs, and Future & Options
  • Fast and simple interface
  • Over 100 Charts and over 250 indicators for technical analysis
  • Fast & secure by comprehensive 2FA authentication

Cons

  • Call and trade is not free
  • Not a 3 in 1 Demat account.

Get started with Upstox Referral Code 2021 to get INR 100 brokerage credits.

2. Angel One Demat Account

Angel One

Angel One is the most popular demat account for beginners in India. It was formerly known as Angel Broking, started back in 1996, and is a well-known trading platform. The company is headquartered in Mumbai. The platform is an all-in-one Demat with multiple benefits.

Angel One comes with a hassle-free sign-up and provides users with strong fundamental and technical analysis tools. Users can use the platform for investing in equities, futures and options, commodities, currencies, IPOs, and Life Insurance.

Angel One Account Charges

  • Demat Opening Charges: NIL
  • Commodity Opening Charges: NIL
  • Demat Account Annual Maintenance Charges (AMC): Free for the first year and Rs 450 per year from the next year onward
  • Trading account Annual Maintenance Charges: NIL

Angel One Brokerage Charges

  • Equity Intraday: Rs 20 per trade
  • Equity Delivery: Zero
  • Futures & Options: Rs 20 per trade (Equity, Currency, and Commodity)

Pros

  • No account opening charges
  • Free Advisory SMS
  • Different investment options
  • Users can use Streak to scan the entire stock market in no time for strategic trading.
  • Available in all device platforms including Web, Desktop, and Mobile
  • Angel One Desktop terminal is pretty powerful

Cons

  • Demat AMC is slightly higher than its competitors like Zerodha and Upstox

3. Zerodha Demat Account

Zerodha-review

Zerodha is an excellent choice to start a demat account for beginners in India. It was started in 2010 by Nithin Kamath & Nikhil Kamath. The company has over 7.5 million users and has its headquarters in Bangalore. The platform allows users to invest in stocks, derivatives, mutual funds, and more.

Zerodha also provides users with free and open market education through Zerodha Varsity. Besides, the user interface is very intuitive, and even beginners can get the hang of it in no time.

It wouldn't be wrong to say that Zerodha is the most affordable trading platform and ideal for all types of traders and investors. Further, the platform has excellent charting and indicators for technical analysis. However, Zerodha has got a little unstable since 2023 and the trading platform has many glitches in 2023.

Zerodha Account Charges

  • Demat Opening Charges: NIL
  • Commodity Opening Charges: NIL
  • Annual Maintenance Charges (AMC): Rs 300 per year

Zerodha Brokerage Charges

  • Equity Intraday: Rs 20 per trade
  • Equity Delivery: Zero
  • Futures & Options: Rs 20 per trade

Pros

  • Zero account opening charges
  • Low brokerage charges
  • Advanced charting and indicators
  • User-friendly terminal
  • Free and open market education
  • Excellent mobile app

Cons

  • Call and Trade isn't free

4. 5Paisa Demat Account

best demat account for beginners in india

5Paisa is yet another extremely popular demat account for beginners in India. The company was formed in 2016, with its headquarters in Thane. The platform helps users invest at a lower cost with its technology-driven solutions. Besides, 5Paisa comes with a simple and easy-to-use interface. 5Paisa offers services comprising Equity, Derivative, Mutual funds, Currency, IPOs, NCDs, and Insurance.

The platform comes with ample features for both investors and traders. Investors can benefit from 5Paisa's Intelligent Portfolios, Actionable Buy & Sell ideas, In-depth research, Finschool. At the same time, traders can capitalize on the Advanced charts and Case Studies, Options Strategy Builders, Screeners, and Exposure Margin Funding.

5Paisa Account Charges

  • Demat Opening Charges: Rs 650
  • Annual Maintenance Charges (AMC): Free for the first year and after that, Rs 400 per year

5Paisa Brokerage Charges

  • Rs 10 per executed order for intraday and delivery (Equity, F&O, and currency)

Pros

  • Wide range of investment options
  • Research reports and recommendations
  • Excellent charting tools
  • Customizable and user-friendly interface
  • Highly secure platform with two-factor authentication
  • Inbuilt Robo advisor

Cons

  • Not a 3-in-1 Demat account
  • Robo advisor recommendations are inaccurate sometimes.

Use 5Paisa Promo Code 2023 and get started with free offers.

5. ICICI Direct Demat Account

best demat account for beginners in india

ICICI Direct is the most accessible demat account for beginners in India. It was started in 2000 and is a tremendous online share trading platform in India at a low brokerage. Over 50 lakhs of customers trust the platform.

ICICI direct is a 3-in-1 account which means savings account, trading account, and Demat account. This ensures seamless fund transfer. The platform allows users to invest in Mutual Funds, Commodity, Currency, IPO, Insurance, Derivatives, FD, and Bonds.

Even though ICICI Direct brokerage charges are slightly higher than other brokers in India, it's still very popular in India.

ICICI Direct Account Charges

  • Demat Account & Trading Account opening charges: Rs 100+Rs 975
  • Demat Account Annual Maintenance Charge: Rs 500
  • Trading Account Annual Maintenance Charge: NIL

ICICI Direct Brokerage Charges

  • Equity (Intraday): 0.275%
  • Equity (Delivery): 0.55%
  • Futures: 0.05%
  • Options: Rs 95 per lot

Pros

  • Reliable and popular
  • 3-in-1 account
  • Great support
  • Different investment options

Cons

  • Account opening charges are pretty high
  • Higher brokerage than other brokers

6. Groww Demat Account

Groww App

Groww is an online investment and trading platform founded in 2016 and has its headquarters in Bangalore. The platform is trusted by over 10 million users, and Groww provides you with a lot of investment options that comprise stocks, mutual funds, F&O, IPO, US Stocks, and FDs.

What makes Groww better than any other trading platform is that it has zero account opening charges and zero account maintenance charges. Besides, the platform is fully encrypted and secure, backed by its cutting-edge technology.

This Best Demat Account Groww is available on all device platforms, including Web, Android, and iOS. This ensures investment and trading on the go.

Groww Account Charges

  • Account opening charges: Zero
  • Account Annual Maintenance Charge: Zero

Groww Brokerage Charges

  • Equity (Intraday & Delivery): Rs 20 per executed order or 0.05%, whichever is lower

Pros

  • Zero account opening charges
  • Zero account maintenance charge
  • Lots of investment options including US stocks
  • Low brokerage
  • Advanced charting
  • SMS Alerts

Cons

  • Not a 3-in-1 account
  • No support automated trading.

7. ProStocks Demat Account

ProStocks started in 2016 and is a popular Discount broker with 22 branches across India. Opening an online ProStocks account is pretty simple, and there is no account opening charges in ProStocks. Besides, ProStocks comes with Lifetime AMC Free Demat Account.

As far as technology goes, the platform provides users with free trading terminals with advanced charting and indicators. The Best Stock Broker platform also comes with Advanced Margin Calculators and Brokerage Calculators. Besides, ProStocks is available on Mobile platforms.

Unlike other brokers, ProStocks has an unlimited monthly plan which is ideal for anyone who doesn't want to pay brokerage on turnover. I recommend choosing it only if you are sure that you are going to have a huge turnover. However, the plan is available in two versions.

  • Rs 899 for Unlimited Equity and Equity Derivatives trading in an exchange
  • Rs 499 for Unlimited Currency trading in an exchange

If you feel there is no need for you to opt for the unlimited monthly plan, you can stick to the flat fee plan.

ProStocks Account Charges

  • Account opening charges: Zero
  • Account Annual Maintenance Charge: Zero

ProStocks Brokerage Charges

  • Equity (Intraday & F&O): Rs 15 per executed order
  • Equity Delivery Trading: Zero

Pros

  • No charges on account opening
  • Low Brokerage on Intraday and F&O
  • Zero Brokerage on Equity Delivery trading
  • Free trading terminal with advanced charting
  • Available in mobile platform
  • Lifetime AMC Free Demat Account
  • Advanced Margin Calculators & Brokerage Calculators

Cons

  • Not a 3-in-1 account
  • No SMS Alerts
  • No Margin against shares

8. Edelweiss Broking Demat Account

Edelweiss Broking Ltd. has been around since 2008 and is a reliable trading and investment platform in India. The company is based in Mumbai and has a presence across 200 locations in India. The platform allows you to invest and trade in Equity, Mutual Funds, IPOs, Currency Derivatives, Commodities, and F&O.

Edelweiss offers a clean and straightforward user interface, which makes trading ridiculously simple. Most importantly, Edelweiss is a great trading and investment platform for all types of traders and investors. Edelweiss's desktop trading software, Terminal X3, is exceptionally powerful, backed by excellent analytics and charting. Edelweiss's Mobile Trader app is also equally popular and extensively used.

Edelweiss Account Charges

  • Account opening charges: Zero
  • Account Annual Maintenance Charge: Free for the first year and after that, Rs 500 per year

Edelweiss Brokerage Charges

Lite plan

  • Equity (Intraday, Delivery & F&O): Rs 10 per executed order
  • Currency Futures & Options: Rs 10 per executed order

Elite plan

  • Equity Delivery: 0.30%
  • Equity Intraday: 0.03%
  • Equity Futures: 0.03%
  • Equity Options: Rs 75 per lot
  • Currency Futures: 0.02%
  • Currency Options: Rs 20 per lot

Pros

  • Instant paperless online account opening
  • No account opening charge
  • Powerful and intuitive mobile and desktop applications

Cons

  • No support for Bracket Orders and Good Till Cancelled
  • Call & Trade is not free

9. Flattrade Demat Account

Flattrade is a Chennai-based discount broker that started in 2004. The platform allows users to trade in Equity, Derivatives, Currency, Commodity, and Mutual Funds. Besides, Flattrade has great applications for all device platforms.

Opening an account with Flattrade is pretty easy and is free of any charges. Besides, Flattrade has zero annual maintenance charges. Further, the company has a great customer support service in place.

Flattrade Account Charges

  • Account opening charges: Zero
  • Account Annual Maintenance Charge: Zero

Flattrade Brokerage Charges

  • Equity (Intraday): Rs 20 per trade
  • Equity (Delivery): Zero
  • Futures & Options: Rs 20 per trade

Pros

  • Free account opening
  • Zero annual maintenance charges
  • Low Brokerage on Intraday
  • Zero Brokerage on Delivery
  • Decent support
  • Available in Android, iOS, and Windows

Cons

  • Trading and investment products are limited compared to other brokers

10. Samco Demat Account

Samco is the latest addition to our best demat account for beginners in India list in 2023. It was incorporated in 2015 and is one of the best low-cost discount brokers. The Mumbai-based discount broking platform offers trading and investment in stocks, F&O, Currency, Commodities, IPO, Mutual Funds, and Demat accounts.

Samco doesn't charge any account opening charges. Besides, there is no AMC for the first year. Customers have the advantage of free research and recommendation alongside powerful trading software. Most importantly, Samco has a great support team to assist customers through email and phone.

Samco Account Charges

  • Account opening charges: Zero
  • Account Annual Maintenance Charge: Free for the first year and thereafter, Rs 400

Samco Brokerage Charges

  • Equity (Intraday): Rs 20 per trade or 0.20% (whichever is lower)
  • Equity (Delivery): Rs 20 per trade or 0.20% (whichever is lower)
  • Futures & Options (Equity, Currency, and Commodity): Rs 20 per trade or 0.20% (whichever is lower)

Pros

  • Zero account opening charges
  • Low brokerage
  • Free research and recommendation
  • Powerful trading software
  • Zero brokerage for the 1st month

Cons

  • Call & Trade is not free
  • High Demat AMC

Which Demat Account in India 2024 is Best for Beginners?

In my point of view, I recommend Upstox to be the best demat account for beginners in 2024. Upstox comes with a user-friendly interface, affordable charges, and good customer support.

Finding the best Demat account in India is no longer a difficult job. However, different users have different perspectives and requirements. Hence, you need to be very careful about the charges and features when choosing a Demat and trading platform. You must pick a platform that would fully suffice your trading or investment requirements.

FAQs

What is a demat account and why do beginners need it? 

A demat account, short for dematerialized account, is essential for holding securities electronically. It's crucial for beginners to enter the stock market smoothly. HDFC Securities and Kotak Securities offer demat accounts suitable for new investors.

What is a depository participant? 

A depository participant is an entity that facilitates the opening and maintenance of demat accounts. It's worth considering reputed institutions like HDFC Securities and Kotak Securities as depository participants.

Which brokerage offers an HDFC Securities demat account? 

HDFC Securities offers its own demat account, which is especially beneficial for beginners seeking reliable and established services.

Are there any charges for maintaining a demat account? 

Yes, there are charges for maintaining a demat account  like demat account maintenance charge. It's important to inquire about these charges before opening an account with any provider.

What are some recommended brokers for beginners? 

Motilal Oswal, known for its beginner-friendly services, can be a great choice for those entering the stock market. Zerodha also offers a demat account suitable for newcomers.

How can I find the best trading app for beginners? 

Finding the best trading app is essential for beginners. Consider reputable options like HDFC Securities, Kotak Securities, and Groww, which offer user-friendly interfaces and comprehensive features.

What are some investment options for beginners in the stock market? 

Beginners can explore various investment options like mutual funds, equity delivery, and options trading. Brokers like ICICI Direct and IIFL offer demat accounts that support these investment avenues.

What is the significance of low brokerage for beginners? 

For beginners, minimizing brokerage fees is essential to optimize their initial investments. Consider options like Discount Brokers and IIFL Securities, which offer low brokerage rates.

Can I open a demat account online? 

Yes, online trading and demat account opening are popular among beginners. Brokers like Axis Bank and Kotak Securities provide convenient online account opening services.

What is Algo Trading? 

Algo trading, short for algorithmic trading, is a method of executing trading strategies using computer programs or algorithms. 

These algorithms are designed to automatically analyze market data, identify trading opportunities, and execute orders without human intervention.

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