best Demat account in India

If you are looking to find the best Demat account in India, you have come to the right place. This Best Demat Account India post will share the ten best brokers to open an account in India based on features, pricing, and support. By the end of the post, you should be conveniently able to find a good broker.

Best Demat Account in India

1. Upstox

Upstox is the best platform to open a Demat account in 2023. Upstox charges a Flat Rs. 20 per order irrespective of the trading amount, making them the most affordable platform. There are also zero brokerages on Digital Gold, IPO, and Mutual Funds. Best for beginners and someone who needs fast account activation.

In my opinion, Upstox is the overall best place to create a Demat account in India for 2024. Upstox is a Mumbai-based discount broker company backed by some of the best names like Ratan Tata and used by 40+ lakh traders. Upstox comes with advanced charts and tools alongside low brokerage charges. 

Upstox New Home
Upstox

Upstox charges Rs. 20 for every intraday trade and has zero brokerage on delivery. Further, the platform offers zero commission trading on Mutual Funds, Digital Gold and IPOs.

I've been using it for more than a year, and I love it more than Zerodha. As a first-time trader, I found the Upstox user interface much easier.

I have never had any problems in using Upstox. However, while I was totally new to Upstox, I faced some delays in placing orders because of the Review feature in Upstox. It is something I have disliked since day one. Hence, I suggest you turn off the Review feature from settings. Once you do this, you will have an exceptionally smooth experience with Upstox.

Another thing I like about Upstox is its responsive customer support through live chat, phone, and tickets. Even while you are in the middle of your trading session, you can contact Upstox live chat whenever you run into some technical issues.

Regarding reporting, I strongly feel Upstox can improve a lot and make the reports more attractive.

In fact, Upstox is the primary account I use for daily trading as well as to hold my long-term investments. If you login into your account, you can quickly look into the Movers and Shakers based on different criteria like “1 Week High,” “1 Month High,” etc.

Next, you can find a list of top losers and the big list of smart investing ideas like Top ROCE, High P/E Ratio stocks, etc. With all these features, you don't need a third-party tool to analyze stocks.

Key Features:

  • The company offers a free Demat account now. With Rs. 1000 brokerage credit, you can place 50 free orders (Rs. 20/order). It also includes Rs.1000 worth of credits, which you can use in the first 30 days.
  • You can buy stocks with just 50% funds, where the rest of 50% will be shared from Upstox through the Margin Trading Facility (MTF) feature. This feature can be activated from the dashboard.
  • Their new web and app portal comes with the industry's best features, with options to use between trading view and chart IQ graphs. It also brought powerful charts with 100+ indicators.
  • Upstox offers you a free stock that will be credited 48 hours after account opening.

2. Angel One

Angel One is another largest stockbroker in India. Angel One charges Rs. 20/order for intraday, F&O. There are no charges for equity delivery. For a limited time, Angel One offers Free Margin Trade Funding for 30 days.

Angel One is the third largest stockbroker in India, with a large customer base across India. You can open a free Demat account with Angel One and get discount vouchers worth Rs.15,000 from top brands

There is no upfront payment in Angel One, and the initial margin depends on the money deposit. The minimum brokerage charge, irrespective of the investment size, is Rs. 20. The recently launched mobile app is neat and sleek, and I use it regularly for my intraday trading.

Angel One Mobile App
Angle One Mobile App

Apart from their app, they also redesign the web interface that offers a better trading experience. The layout is clean without no distractions, and that's one thing why I started liking them recently.

Angel One is undoubtedly a reliable online broker with excellent trading applications. Most importantly, the platform is known for its outstanding research and analysis data. However, one thing that disappointed me about this trading platform is the customer support. It's really hard to contact the customer support team.

Key Features

  • A trusted name with 25+ years of good track record.
  • The platform is pretty advanced, with good research tips.
  • Free Demat account.

3. Zerodha

Zerodha is another popular platform among Indians to open a Demat Account. The company charges a Flat Rs.20 or 0.03% (whichever is lower) per order. If not Upstox, Zerodha should be your ultimate option.

Zerodha is another best place to create a Demat account in India. The Bangalore-based discount broker company, Zerodha started in 2010 and made a huge difference in India's discount broking model. Today, the platform has around 5 million users and allows you to invest in stocks, mutual funds, derivatives, and more. The discount broker has a good customer support service and 24×7 assistance via phone and tickets.

Zerodha
Zerodha

Zerodha charges a low brokerage of 0.03% or Rs. 20 per executed order (whichever is lower). In the case of the delivery trade, Zerodha doesn't charge any brokerage at all. 

Zerodha has a user-friendly interface for sure of moving over to interface, and it should not take time for you to get used to it, even if you are completely new to stock trading. Besides, it provides users with advanced charts, indicators, and tools for technical analysis. This is what the holding dashboard looks like:

Zerodha is my preferred trading platform since Zerodha has high reliability without major technical issues. Besides, most Indian traders and investors prefer Zerodha. Zerodha's Kite works equally well on web and mobile platforms. My favourite Zerodha features are a clean interface, GTT order, Sensibull, Streak, KillSwitch, and Grapical P&L reports.

Zerodha also offers excellent customer support through phone and tickets. The executives are knowledgeable, and every time I contacted Zerodha support, I was satisfied by the interaction. However, I strongly feel Zerodha should consider adding live chat support for its users.

Key Features

  • Zero brokerage on delivery
  • Good margin; from 4 to 15 times
  • The maximum brokerage charge is Rs. 20 for every executed order
  • It comes with advanced charts, indicators, and other tools for technical analysis
  • Rs. 300 charges for account opening.
  • Zerodha Varsity helps you learn all the basics of the stock market.

4. ICICI Direct

ICICI Direct now offers discount brokerage services similar to Zerodha and Upstox. You can sell stock and get the money into your bank account in less than 30 minutes. ICICI Direct became the first brokerage to offer this feature.

Trusted by 40 Lakh customers, ICICI Direct is a pretty popular brokerage company. The platform is known for seamless trading backed by an award-winning research team. You can avail loan against the stocks, and I think no other demat account offers such a feature. Further, the platform gives you the advantage of the most advanced and intuitive trading tools. 

ICICI Direct

Through their Neo plan, you can pay just Rs. 20/ trade for intraday and futures trading. This ICICI Demat account maintenance fee is Rs. 300 per year from the 2nd year onwards. That makes it comparatively cheaper than the many options.

If you have an ICICI bank account, you can have a demat account opened in less than 5 minutes, as they will fetch your bank data to speed up the process. One more thing, With ICICIDirect, you can sell stocks and get the money in your bank account in under 30 minutes.

As far as the brokerage structure goes, ICICI has three different plans; Secure, Saver, and Prepaid brokerage. Some downsides are the lack of multiple trading graphs, a brokerage calculator, and the poor mobile app.

ICICI Direct comes with good trading applications. However, the pricing is a little confusing. Besides, the platform charges brokerage fees for Equity Delivery while other leading brokers don't. Another thing I encountered with ICICI Direct is having difficulty contacting its customer support.

Key Features

  • Reputed company.
  • 3 in 1 Demat account model.
  • Transfer of funds is easy.
  • Insurance options are also available.

5. 5Paisa

Similar to Zerodha and Upstox, 5Paisa also charges a Flat Rs. 20 per order. This makes them another affordable platform in the market. 5Paisa also offers you a free Demat account for a limited time.

5Paisa is a decent Demat account broker in India. It comes with a flat fee structure. The discount broker is also a mobile app and offers an exceptionally user-friendly interface. The discount broker allows you to open a Demat account for free. 5Paisa charges a brokerage of Rs. 20 per executed order. 

5Paisa
5Paisa

If you choose the Ultra trader pack for Rs. 999, you can place a trade worth crores for just Rs. 10 for every trade, and the first 100 trades would be free. Besides, there would be no brokerage on delivery in this plan.

Besides being one of the lowest brokerage platforms, 5Paisa gives you the advantage of zero charges on account opening, and you can open a Demat account with 5Paisa in just one day.

5paisa is a trading and investment platform that has made online trading more innovative. What I like about this platform is its simple pricing of a flat ₹20 for all trades. Besides, the platform helps you save more with its Super Saver Packs.

All the 5paisa applications are highly usable, and the interface is straightforward. It's also worth mentioning that 5paisa has a brilliant customer support team.

Key Features

  • No charges on Demat account opening 
  • Low brokerage charges 
  • Easy to use 
  • The account opening process is pretty fast and straightforward.

6. Sharekhan

Sharekhan
Sharekhan

Sharekhan is one of the first few companies to make online trading popular in India. Sharekhan started in 2000 and has been around for many years, with over 16 lakh customers. Sharekhan comes with good products and services. 

You don't have to pay any charge for the best Demat account in India with Sharekhan, and another advantage you have with Sharekhan is that you don't have to pay Demat account maintenance charges for the first year. However, Sharekhan is undoubtedly not the cheapest option since it charges 10 paise per share, making it hard to trade in low-priced stocks. 

One way to reduce brokerage is by selecting a prepaid plan. However, it is not refundable, and just in case you don't use up the brokerage within the given time frame, you will lose the upfront fee as it will get lapsed.

Sharekhan has made a massive contribution to the online broking industry since 2000. Back when it was launched, people hardly knew about online broking. The online broker did a great job in making online trading and investment popular in India through its advertisements.

Since the name Sharekhan was picked from the popular children's animation TV show, The Jungle Book, it even caught the kids' attention back then, and I am sure some of these kids are traders now. Sharekhan comes with good applications. However, the charges are comparatively higher than those of other leading online brokers.

Key Features

  • Opening a Demat account is free of charge
  • No charges on call and trade 
  • No charges on fund transfers from the bank to the trading account
  • Free online classroom sessions 
  • Prepaid plan for a reduced brokerage

7. HDFC Securities

HDFC Securities
HDFC Securities

Transferring funds is ridiculously simple with HDFC Securities. HDFC Securities is a subsidiary of HDFC Bank, which started in 2000 and has around 17 Lakh customers. The platform allows you to trade and invest in stocks, derivatives, mutual funds, fixed deposits, NCDs, insurance, bonds, and currency derivatives. 

If we consider the trading interface, anyone can get the hang of it in merely a few minutes. The mobile app is equally good. The fee for opening the best Demat account in India with HDFC Securities is Rs. 999, and the annual Demat account maintenance charges are Rs. 750 per year. 

The fee on delivery-based trades is 0.5% or Rs 25 (whichever is higher), that of Square off trades (Cash and Carry Scrips) is 0.1% or Rs. 25 (whichever is higher), and it charges 0.05% or Rs 25 (whichever is higher). They do not support commodity trading. 

I opened my first demat account with HDFC Securities, and the entire process was offline. HDFC Securities has a user-friendly interface, and accessing the live chat support takes little time.
The only issue I had with HDFC Securities was the high charges.

Key Features

  • 3 in 1 Demat account with accessible funds transfer
  • HDFC is a reliable name
  • Advanced features such as HDFC Blink are only available for a monthly subscription. 
  • SMS-based research tips available for an extra charge

8. Kotak Securities

Kotak Securities
Kotak Securities

Kotak Securities is a Kotak Mahindra Bank subsidiary that started in 1994. The platform allows you to trade in the Stock Market and invest in IPOs, Mutual Funds, or Currency Derivatives. Further, it offers you offline options alongside online trading. Currently, Kotak Securities has around 17 Lakh customers. 

It goes around Rs 499+GST on new Demat account opening and Rs 600 per year as an annual Demat account maintenance fee. The platform doesn't support commodity trade, and the brokerages are comparatively higher than most other brokers. 

Even though Kotak doesn't charge any brokerage on Intraday trading, Rs 20 per executed order on margin Intraday and a fee of 0.25% on delivery.

Kotak Securities is one of the finest online brokers with advanced trading applications. Indian traders widely use the platform, and it is pretty reliable. Besides having good web and mobile applications, Kotak Securities has installable PC software.

The platform offers excellent customer support. However, unlike other online brokers, Kotak Securities also charges a brokerage fee on Equity Delivery.

Key Features

  • 3 in 1 Demat account with seamless funds transfer
  • Various other investment options 
  • Provision for traders with a slow internet connection
  • Support through online chat

9. Motilal Oswal

Motilal Oswal
Motilal Oswal

Motilal Oswal company was founded in 1987 and offered a wide range of financial services. The company has come a long way and currently has over 10 Lakh customers. The company is undoubtedly very reliable, and one of the reasons behind its stunning success over the years is its solid research-based advice. 

The broker allows you to open a Demat account for free and charges an annual maintenance fee of Rs 899. Interestingly, with Motilal Oswal, you have the option to pay a one-time price of Rs 2500 under the lifetime AMC scheme to avoid paying an annual maintenance charge every month.

Regarding the trading charges, the broker charges 0.05% on Intraday and 0.50% on Delivery. You can trade on this platform using the desktop application, the web application, or the mobile application. All the applications work equally well.

Motilal Oswal is one of India's most reliable trading and investment platforms. The broker comes with advanced applications and excellent research data. However, the platform has high charges compared to other online brokers.

Key Features

  • Lifetime AMC scheme
  • Solid research-based advice
  • Intraday brokerage charges are pretty low
  • Decent trading applications for all devices

10. Religare Broking

Religare Broking Ltd

Religare Broking Ltd. is a subsidiary of Religare Enterprises and currently has more than 1 million customers. The broking company allows you to trade or invest in Equity, Currency, commodity, and depository participant services. RBL doesn't charge any amount on the Demat account opening. 

It charges a fee of 0.05% on Intraday and 0.5% on Delivery. However, it charges Rs 400 as annual maintenance charges and Rs 500 as Demat account processing charges. Besides, it also provides users with the lifetime AMC option. To choose lifetime AMC, one can either pay a one-time non-refundable fee of Rs 1,111 or a refundable fee of Rs 2,500. 

Religare Broking is undoubtedly a reliable investment platform with excellent research and analysis data and applications. However, the platform has comparatively higher charges than leading discount brokers. Further, Equity Delivery is not brokerage-free.

Key Features

  • Lifetime AMC option available
  • Good mobile app for trading
  • Currency and commodity trading supported
  • Offers decent technical analysis tools

11. Dhan

best demat account in India

Dhan is an extensively used online trading and investment platform launched in 2021 by Pravin Jadav. The platform has many advanced features you may not find anywhere else. Besides, Dhan offers users a wide range of financial products to trade and invest in. You can start an account with Dhan for zero charges, and on top of that, Dhan doesn't charge any AMC, which is a significant advantage for users.

Dhan's brokerage charges are nominal with ₹20 or 0.03% of trade value per executed order, whichever is lower for Equity Intraday and all segments Futures. The platform charges ₹20 for all segment options. Dhan doesn't charge any brokerage fee on Equity Delivery.

Dhan is one of the most innovative and advanced online brokers in India. The platform has a wide range of financial instruments for you to invest in. Dhan follows a discount broking model, and hence, the brokerage fee is nominal.

Most importantly, you don't have to pay a single penny for account opening and AMC in Dhan. Dhan applications are very advanced and are equally good for trading and investment. It's worth mentioning that Dhan has a dedicated customer support team, and you can contact it through live chat, phone, and tickets.

Key Features:

  • Zero account opening charges and AMC
  • Excellent applications across web and mobile platforms
  • Dedicated trading application for Options trading
  • Advanced features include Webhooks, free APIs, Trade from the chart, and Trader's Diary.
  • Comprehensive support through live chat, phone, and tickets.

Editors Note

Most beginners encounter confusion is the difference between the best Demat account in India and a trading account. You would need both accounts to trade or invest in the share market. It is effortless to understand. 

While a trading account is related to trading alone, a Demat account is where you store your stocks until you square off the trade. Interestingly, you can have a trading account with one broker and a Demat account with another broker. 

However, it is not a wise thing to do since you can have them both with the same broker, and this makes things simple for you, allowing you to only concentrate on your trading.

Reading this post, you should know the available brokers for the best Demat account in India. However, choosing a suitable broker platform is your call and depends significantly on your trading perspective, which can be long-term, short-term, or Intraday. 

By the rule of thumb, you must choose an affordable service for your requirements, and apart from that, you must always check the application and technical analysis tools well before choosing a broker. 

As far as my experience goes, I started with HDFC Securities and soon switched over to Upstox. I found Upstox far better in all aspects, and it continues to be my favorite, with reasonable brokerage charges, advanced charts, and technical analysis tools. Besides, there are no account opening and AMC in Upstox. Hence, you can feel free to open Upstox and try it with a small capital.

FAQs 

What is a demat account and why do I need one? 

A demat account is an electronic way of holding securities like stocks, bonds, and mutual funds. It eliminates the need for physical share certificates. You need a demat account to trade and invest in the stock market efficiently.

What are the charges associated with opening a demat account? 

The charges for opening a demat account can vary. They might include account opening charges, demat account charges, and trading account opening charges. It's important to compare these charges when choosing the best demat account for you.

Can I invest in mutual funds using a demat account? 

Yes, you can invest in mutual funds through a demat account. Many demat account providers offer the facility to hold mutual fund units electronically, making it convenient to manage your investments.

Which are some recommended demat account providers? 

HDFC Securities Demat Account and Zerodha Demat Account are popular options known for their features and user-friendly interfaces. They offer competitive services and access to various investment opportunities.

How can I select the best trading app for my demat account? 

To choose the best trading app, consider factors like ease of use, research tools, real-time market updates, and security features. The “Best Trading App” keyword suggests that there are apps designed specifically for this purpose.

Are there any discounts available for trading through discount brokers? 

Yes, discount brokers offer lower brokerage charges compared to traditional full-service brokers. This can lead to cost savings for active traders and investors.

What is the importance of a PAN card in relation to a demat account? 

A PAN card is essential for opening a demat account. It serves as your identity proof and helps in tax-related transactions in the stock market.

What is an investor charter and why is it relevant to demat accounts? 

An investor charter outlines the rights and responsibilities of an investor. It helps ensure transparency and fairness in dealings with demat account providers and other financial institutions.

What are demat account opening charges and how can I avoid them? 

Demat account opening charges are fees associated with setting up your demat account. Some providers offer zero demat account opening charges as part of promotional offers or special schemes. Make sure to check if you're eligible for such offers.

How does a savings account relate to a demat account? 

A savings account is a traditional banking account for keeping money, while a demat account is used to hold securities electronically. However, some banks might offer integrated services where you can link your savings account with your demat account for seamless fund transfers.

Leave a Reply

Your email address will not be published. Required fields are marked *