If you are looking for the best Demat Account in India in 2024 for trading or investing, this post is for you.
In this article, I will share India's 10 best Demat Account platforms, along with their charges and features. As you read the article, you should easily find the right online broker to open a Demat Account in 2024.
Best Demat Account in India:
1. Zerodha
Established in 2010, Zerodha is the most trusted demat account in India.
Zerodha allows you to trade and invest in Stocks & IPOs, Futures and Options, Commodity derivatives, Currency derivatives, Direct mutual funds, and Bonds and Government Securities.
You can open a demat account online with Zerodha. The account opening process is simple and quick. The stock broker charges ₹200 for the opening. Besides, the investing and trading platform charges a Demat Account Annual Maintenance fee of ₹300.
Next, it's important to look at the Zerodha brokerage charges. Being a discount broker, Zerodha keeps its brokerage charges nominal. Here are the Zerodha's brokerage charges:
- Equity Delivery and Direct Mutual Fund: ₹0 brokerage fee
- Equity Intraday and F&O: ₹20
Kite is Zerodha's trading application, available on web and mobile platforms. It has a clean interface with multiple watchlists, advanced charting tools, multiple time frames, and layouts. Kite lets users choose between Tradingview and ChartIQ charting tools. To open a chart, hover over a stock and click on the chart icon.
Kite has multiple order types, including advanced ones like GTT, AMO, BO, and Iceberg. You can experiment to see which order types fit your technical setup. It's also worth mentioning that users can use Streak and Sensibull for free on Zerodha for backtesting.
Zerodha offers excellent customer support through tickets and phone. Besides, the platform has a good knowledge base for quick reference.
2. Angel One:
Angel One was founded in 1996 and has been a reliable demat account in India. On the Angel One platform, you can trade and invest in various financial securities, including Stocks, IPOs, F&O, Mutual Funds, Commodities, and US Stocks. Besides, the platform is also known for its powerful research report data.
You can open a Demat Account with Angel One for ₹0 charges. However, the stockbroker charges an AMC (Account Maintenance Charge) of ₹240. Angel One's brokerage charges are minimal. Here are the brokerage charges:
- Equity Delivery: ₹0 charges
- Equity Intraday: Lower of ₹20 or 0.03% per executed order
- Futures and Options: ₹20 per executed order
Angel One has highly usable trading applications on all device platforms, including desktops. While most brokers only have mobile and web applications, Angel One has installable desktop software for Windows users called SpeedPro. The Angel One mobile app is called the Angel One Super app, while the Web app is called the Angel One Trade app.
All Angel One trading applications have an intuitive interface, multiple watchlists, and the Tradingview charting tool. They also have many advanced order types, such as AMO and GTT. The platform is also known for its excellent research and analysis data, and investors can greatly benefit from it.
Like Zerodha, Angel One allows users to use Sensibull for free for back testing strategies. If we consider Angel One's Customer Support, it offers technical assistance via email and phone. However, there have been complaints about customer support not being responsive enough and having long waiting times.
3. Upstox:
Upstox by RKSV Securities Pvt. Ltd. entered the industry in 2009 and is a reliable demat and trading platform in India. It allows you to trade and invest in Stocks, Mutual Funds, IPOs, Futures and Options, Currencies, and Commodities.
You can open an instant account with Upstox for zero charges, and the broker doesn't charge any Annual Demat Account Charges, which makes it more affordable than other brokers. Being a discount broker, Upstox keeps its brokerage charges pretty low. Here are the Upstox's brokerage charges:
- Equity, F&O, Commodity and Currency Trades: ₹20
However, as you can see, Upstox charges a brokerage fee on Equity Delivery as well, while most other brokers don't.
Upstox offers trading applications for web and mobile devices, and the latest version is called Upstox Pro. The app works flawlessly and has an excellent interface. Interestingly, you can customize the app for investing or trading by simply toggling between ‘For Investors' and ‘For Traders.'
The Upstox Pro application is one of the finest trading applications. It offers an excellent market overview, market updates and news, Tradingview and ChartIQ charting tools, and multiple watchlists. Besides, Upstox Pro comes with advanced order types such as GTT.
Upstox offers the most comprehensive and responsive Customer Support service in the industry. The Upstox Customer Support team can be reached through Live Chat, Phone, and Tickets.
4. ICICIdirect:
While ICICI Securities Limited is as old as 1995, ICICIdirect was launched by ICICI Securities in 2000.
ICICIdirect is a reliable trading and investing platform that offers a wide range of financial securities, including stocks, mutual funds, futures and options, commodities, and currencies.
Demat Account opening is free in ICICIdirect, and the best part is that you can open a 3-in-1 ICICI direct Demat Account. However, it's not mandatory to open a 3-in-1 Account, and if you plan to use ICICIdirect with any non-ICICI Bank account, you can go ahead with a 2-in-1 Account.
The broker charges a Demat Account Annual Maintenance Charges (AMC) of ₹300. The broker has different plans for lowering the brokerage charges. ICICI direct regular brokerage charges are:
- Equity Delivery: 0.55% irrespective of turnover
- Futures: 0.05%
- Options: Flat ₹95 per contract lot
Regarding trading applications, ICICIdirect has ICICIdirect Markets for trading and ICICIdirect Money for investing in Mutual Funds and SIPs. Both apps are available as web and mobile apps. The platform also has desktop software called Trade Racer.
All ICICdirect applications work flawlessly and have many advanced features, such as multiple watchlists, advanced charting tools, and multiple order types. Most importantly, they are easy to use.
ICICIdirect offers customer support through live chat and phone calls. The platform also has many video tutorials and articles for quick reference.
5. HDFC Securities:
HDFC Securities is a subsidiary of HDFC Bank, launched in 2000. The platform's product offerings include Equity, Mutual Funds, Derivatives, and Bonds. The platform used to be very popular, but its popularity has declined even since discount brokers like Zerodha entered the industry.
The broker charges a Trading Account opening charge of ₹999 and a Demat Account Annual Maintenance fee of ₹750. Here are the HDFC Securities brokerage charges:
- Equity Delivery: 0.50% or min Rs.25/- or ceiling of 2.5% on transaction value (Both Buy & Sell)
- Equity Intraday: 0.10% or min Rs.25/- or ceiling of 2.5% on transaction value (Both Buy & Sell)
- Futures Delivery: 0.05% or min Rs.25/- or ceiling of 2.5% of the transaction value (Both Buy & Sell)
- Futures Intraday: 0.025% or min Rs.25/- or ceiling of 2.5% of the transaction value (Both Buy & Sell)
- Options: Higher of 1% of the premium amount or Rs.100 per lot (Both Buy & Sell)
Besides, HDFC Securities has plans to lower brokerage. The plans start at ₹199.
Regarding HDFC Securities Trading applications, the broker has applications for web and mobile devices. The interface is excellent and fast, and the charting tool is basic but usable.
However, HDFC Securities does have a better charting tool called the Pro Terminal, which is subscription-based. Besides, you can use multiple watchlists and multiple order types on HDFC Securities.
The broker has a reliable customer support team that assists customers through live chat, phone, and email. The Live chat support was extremely helpful when trading on the HDFC Securities platform. The response was always fast and friendly.
6. Dhan:
Incorporated in 2021, Dhan is a discount broker with a wide range of product offerings, including Stocks, Mutual Funds, IPOs, Futures and Options, Commodities, and Currencies. Dhan has many advanced features and is suitable for traders and investors.
You can open a Demat Account with Dhan online for Zero charges. Besides, Dhan doesn't charge any AMC. As far as the Dhan's brokerage charges go, they are minimal. Here are the charges:
- Equity Delivery: ₹0
- Equity Intraday Trading: ₹20 or 0.03% per executed order, whichever is lower
- Futures: ₹20 or 0.03% per executed order, whichever is lower
- Options: ₹20 per executed order
Next, it's essential to look at Dhan's Trading applications. Dhan has excellent web and mobile trading applications. While Dhan has a regular trading application called Dhan Web, it has a dedicated Options trading app called Options Trader Web.
Dhan has excellent mobile applications: the Dhan app and the Options Trader app. The regular Dhan app should be more than enough for most users' trading and investing requirements. The app has everything, from multiple watchlists to the Tradingview charting tool. Advanced Options traders can benefit significantly from the Dhan Options Trader app.
Dhan offers comprehensive customer support through Live Chat, Phone, and Email. Besides, the company has good documentation for quick reference.
7. Kotak Securities:
Launched in 1994, Kotak Securities is a subsidiary of Kotak Mahindra Bank and a popular trading and investing platform in India. The Kotak Securities' Investment Options includes Stocks, Mutual Funds, IPOs, Futures and Options, Currency, Sovereign Gold Bond, and Exchange Traded Funds.
You can open a Kotak Securities Demat Account for as low as ₹99. Since Kotak Securities is a subsidiary of Kotak Bank, you can open a 3-in-1 account if you like. The platform charges a Demat Account Annual Maintenance fee of ₹600.
Here are the Kotak Securities brokerage charges:
- Mutual Funds and IPO: ₹0
- All Intraday Trades: ₹0
- Futures and Options Carry Forward Trades: ₹20 flat per executed order
Kotak Securities has reliable applications on web and mobile platforms with a clean interface, advanced charting tools, multiple watchlists, and multiple order types. You can choose between ChartIQ and Tradingview on any of the Kotak Securities.
Regarding customer support services, Kotak Securities offers comprehensive support through live chat, WhatsApp, phone calls, and email. You can also refer to Kotak Securities' Knowledge base.
8. Paytm Money:
Founded in 2017, Paytm Money is a subsidiary of One97 Communication and a Sebi-registered broker. Paytm Money allows you to trade and invest in Stocks, Mutual Funds, NPS, Futures, and Options.
You can open a free Demat Account with Paytm Money. The platform doesn't have any Demat account opening charges. However, the broker charges a Trading platform usage fee of ₹300 annually. Here are Paytm Money brokerage charges:
- Equity Delivery: 2.5% of turnover or upto Rs. 20/- per Executed Order, whichever is lower.
- Intraday: 0.05% of turnover or upto Rs. 20/- per Executed Order, whichever is lower.
- Futures and Options: ₹20 per executed order.
Paytm Money has web and mobile trading applications that work flawlessly on both platforms. When you use the Paytm Money application, you can choose between ChartIQ and Tradingview charting tools. You can also create multiple watchlists and select from multiple order types. Paytm Money has many advanced order types, such as AMO, BO, CO, and GTT.
Regarding Customer Support, Paytm Money offers technical assistance through Phone and Email Support. Besides, it has a blog for quick reference.
9. 5paisa:
5paisa entered the industry in 2016 and is ranked among the reliable brokers in the Indian Stock Market. Its product offerings include stocks, mutual funds, derivatives, IPOs, commodities, currencies, currencies, and US stocks.
You can open a Demat Account with 5paisa for ₹0 charges. However, users must pay an AMC of ₹300 to use the platform. 5paisa has an impressive pricing model, and unlike other brokers, it charges a flat ₹20 per trade for Delivery, Intraday, and All Segments Futures and Options.
Regarding trading applications, 5paisa has fast and advanced trading applications across web and mobile devices: the 5paisa Trading app and Trade Station Web. Besides, 5paisa has desktop software called Quantower. 5paisa trading applications come with Tradingview and ChartIQ charting tools, multiple watchlists, and multiple order types.
In addition, 5paisa provides many advanced screeners and calculators for convenience and accuracy. The trading platform offers good Customer Support through Phone and Email. Besides, it has an excellent knowledge base and a Community forum for users.
10. Motilal Oswal:
Motilal Oswal is a renowned name in the industry and has been there since 1997. The platform allows you to trade and invest in Equity, Mutual Funds, IPOs, Futures and Options, Commodities, and Currencies.
Motilal Oswal doesn't charge an account opening fee and AMC. However, the stockbroker charges Account Administration Charges (AAC) of ₹199. Here are the Motilal Oswal's brokerage charges:
- Equity Delivery: 0.20%
- Equity Intraday: Free
- Equity & Commodity Futures: 0.02%
- Equity Options: ₹20 per lot
- Commodity Options: ₹200 Per Lot
- Currency Trading: Futures & Options: ₹20 per lot
The platform has excellent and fast trading applications for web and mobile devices. The applications have advanced charting tools, watchlists, and multiple order types. You can also link your Tradingview account with your Motilal Oswal to trade directly from Tradingview charts.
If you have any technical issues or queries, you can contact Motilal Oswal Support by phone or email. Further, it has a good number of online resources for quick reference.
Concluding ~ Which is the Best Demat Account in India?
I have walked you through the 10 best brokers to open a Demat account in the Indian share market. Most brokers have identical product offerings. However, they differ regarding charges, interface, and trading applications.
Zerodha has been the most reliable trading platform, with straightforward pricing, a clean interface, and excellent trading applications. The platform offers free backtesting tools, such as Streak and Sensibull. Zerodha is a beginner-friendly trading and investing app, and everything is pretty self-explanatory and intuitive.
I opened my first Demat Account with HDFC Securities. However, I wasn't pleased with its charges and trading applications. That's when I thought of trying Zerodha, and I found it far better than HDFC Securities in all aspects. I still count on Zerodha for my trading and investment needs and have no issues yet.
