Best Demat Account in India – List of Top 10 Demat Accounts in India 2024
By
TBS Team / October 18, 2024 / 14 minutes of reading
If you are planning to invest in stock market, it is necessary for you to open the demat account first. In share market there are many stock brokers who is providing demat accounts, but this doesn’t mean you can choose anyone uprightly. If you want to choose the Best Demat Account in India, it is recommended to read their pros and cons carefully.
What is a Demat account?
A Dematerialized or Demat account refers to an account that allows people to keep their financial instruments in the electronic format means it provides the facility of holding shares, bonds, securities and mutual funds in the electronic format.
Just like a savings account which is used to hold your money, a Demat account is used to keep the shares.
We will also discuss benefits of demat accounts and its necessity later in this article.
List of Top 15 Demat Accounts in India and Their Charges
Compare Top 10 Demat accounts in India by Their Trading Charges
If you want to open a Demat account, the brokerage is the first and foremost thing to consider. Brokerage refers to a certain percent of the transaction value that is deducted every time a stock transaction is done. So, here is a list of top demat account providers that offer the lowest brokerage charges.
Demat account Name
Delivery charges
Intraday charges
Options charges
Futures charges
Paytm Money Demat Account
Rs. 20 or 0.10% (whichever is lesser) as per executed order
Rs. 20 or 0.05% (whichever is lower) as per the executed order
Flat Rs. 20 per executed order
Flat Rs. 20 per executed order
Zerodha Demat Account
Free
Rs. 20 or 0.03% (whichever is lower) as per the executed order
Flat Rs.20 per executed order
Flat Rs. 20 per executed order
Aditya Birla Capital Demat Account
Rs.20 or 0.25% (whichever is lower) per executed order
Rs. 0 or 0.30% (whichever is lower) per executed order
Flat Rs. 20 per executed order
Flat Rs. 20 per executed order
Upstox Demat Account
2.5% or Rs.20 (whichever is lesser)
Rs. 20 or 0.05% (whichever is lesser) per executed order
Flat Rs.20 per executed order
Flat Rs. 20 per executed order
5Paisa Demat Account
Rs. 20 or 0.25% (whichever is lesser) per executed order
₹20 or 0.05% (whichever is lesser) per executed order
Flat Rs.10 per executed order
Flat Rs.10 per executed order
Groww Demat Account
Rs.20 or 0.05% (whichever is lesser) per executed order
Rs. 20 or 0.25% (whichever is lesser) per executed order
Flat Rs. 20 per executed order
Flat Rs. 20 per executed order
Axis Direct Demat Account
Free
Rs. 20 or 0.03% (whichever is lesser) per executed order
Flat Rs. 20 per executed order
Flat Rs. 20 per executed order
Kotak Securities Demat Account
Rs. 20 or 0.25% (whichever is lesser) per executed order
Rs. 0
Flat Rs. 20 per executed order
Flat Rs. 20 per executed order
SBICAP Securities Demat Account
Rs. 20 or 2% (whichever is lesser) per executed order
Rs. 0 or 0.30% (whichever is lesser) per executed order
Flat Rs. 20 per executed order
Flat Rs. 20 per executed order
HDFC Securities Demat Account
Rs. 20 or 0.50% (whichever is lesser) per executed order
Rs. 20 or 0.10% (whichever is lesser) per executed order
Rs. 100 per executed order
0.05%
List of Best Demat Account in India – Top 10 Demat Accounts in India
Zerodha
Upstox Demat Account
Angel One Demat Account
Groww Demat Account
Sharekhan Demat Account
IIFL Demat Account
5Paisa Demat Account
Samco Securities
Edelweiss Demat Account
ICICI Direct Demat Account
Zerodha
Boasting a client base of over 3 million, Zerodha is undoubtedly the leader of the game. It is the biggest and most trusted discount broker in India at present. Though the discount broker is primarily known as the trendsetter in the discount broking segment, it also has amazing customer services that give it an edge in the industry.
Salient features of Zerodha Demat Account
Exceptional Customer Support
Market research tools
Competitive brokerage
Outstanding trading platforms
One of the most trusted discount brokers in the industry
Pros
Cons
Offer detail portfolio reports in detail
High account opening fee
Avaialable in some regional languages
Trading charts with over 100 indicators
Demat Account Opening Charges
Account Opening Charges
Rs 200 for Trading & Demat A/C
AMC for Trading Account
Rs 0
AMC for Demat Account
Rs 300 per year
Zerodha Brokerage Charges
Zerodha boasts a standard brokerage model where it charges a standard Rs. 20 or 0.03% per stock traded. In the case of equity delivery, it remains zero. The maximum charge is Rs. 20 per order.
Trading Category
Brokerage Charges
Equity Delivery
Rs 0 (Free)
Intraday
Flat Rs 20 or 0.03% (whichever is lower) per executed order
Equity Future
Flat Rs 20 or 0.03% (whichever is lower) per executed order
Options
Flat Rs 20 per executed order (on Turnover)
Currency Futures
Flat Rs 20 or 0.03% (whichever is lower) per executed order
Options
Flat Rs 20 or 0.03% (whichever is lower) per executed order
Commodity
Flat Rs 20 or 0.03% (whichever is lower) per executed order
Mutual Fund
Rs 0 (Free Unlimited Direct MF)
Groww – Top Demat Account in India
Initially started as a mutual fund platform, Groww is a Bengaluru-based online discount broker in India that charges a standard brokerage across various instruments like IPO, Equity, and Mutual Funds. The stockbroker also offers investors to invest in digital gold, fixed deposits, US stocks, and others in a seamless fashion. Being an online broker, Groww does not offer any tips, recommendations, and research services. A wonderful choice for the best online demat account in India.
Main features of Groww Demat Account
0 commission on direct mutual funds
Paperless account opening facility
The maximum brokerage limit is Rs. 20
Option to convert the external regular mutual fund into the direct mutual fund
Facility to invest in digital gold, US stocks, and corporate FD
Pros
Cons
Offers analytics and statistics for stocks, mutual funds, and other investments
Doesn’t support IPO investment
Enables investment in foreign markets
Commission-free SIP purchases
Account Opening Charges
Demat Account Opening Charges
Free Demat Account
Trading Account Opening Charges
Rs 0
Demat AMC
Rs 0
Groww Brokerage Charges
Trading Category
Brokerage Charges
Equity Delivery
Rs 20 per executed order or 0.05% whichever is lower
Equity Intraday
Rs 20 per executed order or 0.05% whichever is lower
5Paisa
Counted among the leading discount brokers in India, 5paisa.com is promoted and supported by IIFL. To date the brokerage firm has more than 1.2 million clients. With 5Paisa, traders and investors can choose to open the best demat account and invest across equity, commodity, and currency segments. 5paisa is India’s rapidly growing discount broker which offers trading and investment services across various segments including stocks, derivatives (F&O) and currency.
5paisa is a registered member of BSE and NSE. 5paisa’s unmatched exposure to technology developed by its parent organization IIFL for over 2 decades years in the retail broking landscape.
Top Features of 5Paisa Demat Account
Only discount broker to provide detailed research and advisory services on over 4000 firms
One-stop destination for all investment products
Standard Rs. 30 per executed trade
Gives saving of up to 90% in comparison to conventional brokers
Nil account opening charges
Pros
Cons
Offers advisory services
Weak portfolio analysis
No account opening fee
Commission-free SIP purchases
Demat Account Opening Charges
Trading Account Opening Charges
Rs 300 (One Time)
Annual maintenance charges (AMC)
Rs 0
Demat Account Opening Charges
Rs 0 (One Time)
Account Maintenance Charges (AMC)
Rs 540 yearly (levied as Rs 45 per month)
5Paisa Brokerage Charges
Category
Brokerage Fee
Equity Intra-day
Rs 20 per trade
Delivery
Rs 20 per trade
Equity Futures
Rs 20 per trade
Options
Rs 20 per trade
Commodity Futures
Rs 20 per trade
Options
Rs 20 per trade
Currency Futures
Rs 20 per trade
Options
Rs 20 per trade
Paytm Money – Top Demat Account
In the present content, Paytm Money is one of the rapidly growing discount brokering firms in India. It is a wholly-owned subsidiary of the country’s leading company, One97 Communications Ltd. Paytm Money is a leading stockbroker and an Investment Advisor, registered under SEBI. The company is a depository participant of CDSL and also a member of BSE and NSE.
Paytm Money offers reasonable charges for trading with free Equity Delivery trading. It gives Free Mutual Fund services with 0 charges for investment and redeems.
Top features of Paytm Money Demat Account
0 commission on direct mutual funds
10 maximum brokerage
Zero account maintenance charges
Paperless account opening
Flat Rs. 10 for intraday trading
Pros
Cons
Detail insights into your portfolio
Doesn’t have Currency trading option
Advanced market analysis tools
Historical data and risk evaluations
Paytm Money Account Charges
Trading Account Opening Charges
Rs 0
Annual maintenance charges (AMC)
Rs 300
Demat Account Opening Charges
Rs 0
Account Maintenance Charges (AMC)
Free
Paytm Money Brokerage Charges
Trading Segment
Brokerage Charges
Equity Delivery
Rs 0 (Free) (minimum Rs 0.01 per executed trade)
Intraday Equity
Rs 10 per executed order or 0.05% whichever is lower
Future
Rs 10 per executed order
Equity Options
Rs 10 per executed order
Samco Securities – Best Online Demat Account
One popular name in the discount broking landscape is Samco Securities. It allows investors to trade in stocks across MCX, BSE, and NSE. Established in 2015, SAMCO is counted among the popular discount stock brokers in India. SAMCO is widely known for its super-low brokerage, margin offerings, more exposure and free trading software.
For investors, there are more than 500 stocks available to choose from. The best offerings by SAMCO are StockPlus, CashPlus, InstaPlus, and their demat account. You can consider SAMCO as the top provider of Demat accounts.
Top Features of SAMCO Demat Account
4X equity delivery leverage
Standard rate trading at Rs. 20 per executed trade
ICICI direct is one of the top-rated retail stockbrokers in India and offers best-in-class trading services to over 50 lac customers. The traders and investors can choose to trade in equity, commodity, and currency at BSE, NSE, and MCX. Moreover, there is an option to invest in IPOs, mutual funds, NCD, fixed deposits, home loans, and loans against securities, etc.
Top Features of ICICI direct Demat Account
ICICIdirect Neo Plan which features brokerage-free equity trading
Free of cost trading tips
20 per trade
3-in-1 account opening
Trading can be done across BSE and NSE
Pros
Cons
You can buy buy a fraction of a share
High brokerage charges
Less space consuming app
Account Opening Charges
Transaction
Charges
Trading Account Opening Charges
Nil – Free Demat Account
Account AMC Charges
Nil
Demat Account Opening Charges
Nil
Demat AMC
Rs 300 (from 2nd year onwards)
ICICIdirect Brokerage Charges
Segment
Brokerage Charges
Monthly Fee (Fixed)
0
Equity Delivery
0.55%
Intraday
Rs 20 per order
Equity Futures
Rs 0 (Free)
Options
Rs 20 per order
Currency Futures
Rs 20 per order
Options
Rs 20 per order
Commodity Futures
Rs 20 per order
Options
Rs 20 per order
Angel One – Best Demat Account of 2023
Established in 1987, Angel Broking is one of the reputed full-service retail stockbrokers in India. The full service stock broker offers the best demat account in India and a wide range of trading and investment services including stock and commodity, investment advisory, loans against shares, margin funding, and other financial products. At present, the firm has over 100 branches, 11000 sub-broker offices across 1800+ cities.
Top Features of Angel Broking Demat Account
Free of cost stock advisory & research
New-age trading platforms
Extended network of franchises and sub-brokers
ARQ-based investment vehicle
One of the trusted brands of India
Pros
Cons
Provides a user-friendly experience
Average customer service.
5X Margin offerings
Account Opening Charges
Trading Account Opening Charges
Nill
Annual maintenance charges (AMC)
Nill
Demat Account Opening Charges
Nill – Free Demat Account
Account Maintenance Charges (AMC)
Rs 240
Brokerage Charges
Category
Brokerage Charges
Equity Delivery
Nil
Equity Intraday
Flat Rs 20 per executed order
Futures
Flat Rs 20 per executed order
Equity Options
Flat Rs 20 per executed order
Currency Futures
Flat Rs 20 per executed order
Options
Flat Rs 20 per executed order
Commodity Futures
Flat Rs 20 per executed order
Options
Flat Rs 20 per executed order
Edelweiss – Rs. 10 per trade
Set up in 2008, Edelweiss Broking Ltd. is a Mumbai-based full-service stockbroker that offers a wide range of trading and investment services in all leading asset categories including IPOs, Mutual Funds, Debt, Equity, Derivatives, Currency, Commodities, Futures & Options. Edelweiss Group has a fabulous presence in PAN India with more than 475 offices across 200 footprints. It has over 12K employees catering to over 15 lakh clients across diverse business sectors.
Top Features of Edelweiss Demat Account
Standard Rs. 10 per trade across all categories
Free sock research and advisory services
Free online trading platforms
Quick paperless online account opening
Web-based IPO investment
Pros
Cons
Brokerage fee is notably lower
No 3-in-1 account
Offers algo trading with advanced features
Edelweiss Account Opening Charges
Transaction
Charges
Trading Account Opening Charges
Nil
Annual Maintenance Charges AMC
Nil
Demat Account Opening Charges
Nil
Account Annual Maintenance Charges AMC
Rs 240
Edelweiss Brokerage Charges
Segment
Brokerage Charges
Monthly Charges (Fixed)
Equity Delivery
Rs 0 (Free)
Intraday
Flat Rs 20 per executed order
Equity Futures
Flat Rs 20 per executed order
Options
Flat Rs 20 per executed order
Currency Futures
Flat Rs 20 per executed order
Options
Flat Rs 20 per executed order
Commodity Futures
Flat Rs 20 per executed order
Options
Flat Rs 20 per executed order
IIFL Securities – Top Demat Account in India
Established in 1995, IIFL Securities is one of the popular full-service stockbrokers in India. A part of IIFL Group, IIFL offers different types of trading and investment services for almost all financial instruments like commodities, equities, derivatives, stocks, loans, FDs, Bonds, and IPOs, etc. The most significant part of this full-service stockbroker is the fixed rate brokerage plan which is just Rs. 20 per traded order.
Top Features of IIFL Securities Demat Account
An excellent network of branches across the country
Advanced trading platform ‘Trader Terminal’
Flat Rs. 20 per trader brokerage
Equity and Mutual Fund research and stock advisory services
Brokerage-free equity delivery trading
Pros
Cons
Portfolio analysis tools and price alerts
Higher brokerage fees
Portfolio management services
Account Opening Charges
Trading Account Opening Charges
Nil
Account AMC Charges
Rs 0
Demat Account Opening Charges
Rs 0
Demat AMC
Rs 250 (Free for 1st year)
IIFL Securities Brokerage Charges
Equity Delivery
Nil
Intraday
Rs 20 per order
Equity Futures
Rs 20 per order
Options
Rs 20 per order
Currency Futures
Rs 20 per order
Options
Rs 20 per order
Commodity Futures
Rs 20 per order
Options
Rs 20 per order
Sharekhan
Largely considered the 3rd largest full-service stockbroker in India, Sharekhan is undoubtedly a reputed name in the field of full-service broking. With over 18 lakh clients, Sharekhan offers trade execution services for equity cash and derivatives categories on BSE and NSE, commodities trading facilities on MCX and NCDEX. Sharekhan’s ‘ShareMobile’ platform offers trading services through mobile apps that are available for iPhone, iPad, Blackberry, Android and other devices.
Top Features of Sharekhan Demat Account
Free call & trade service
Online training, seminars and workshops for stock investors
Option to use the fixed deposit as collateral for F&O trading
Online fund transfers from any bank
One of the reliable names in the stockbroking landscape
Pros
Cons
Can use fixed deposit as collateral for futures and options trading
lengthy account opening process
Notification of prices of your wish listed stocks.
Account Opening Charges
Trading Account Opening Charges
Nil
Account AMC Charges
Nil
Demat Account Opening Charges
Nil
Demat AMC
Rs 400 (Free for 1st year)
Brokerage Charges
Equity Delivery
0.50%
Intraday
0.10%
Equity Futures
0.10%
Options
Rs 50 per lot
Currency Futures
0.10%
Options
Rs 30 per lot
Commodity Futures
0.03%
Options
0.03%
Best Demat Account for Beginners
Angel One – Angel One demat account is the best for beginners. With its user-friendly interface and educational resources, it makes investing easy for new traders. Angel One offers low brokerage that empowers beginners to navigate the markets with confidence.
Best Demat Account in India for Intraday Traders
Zerodha – Zerodha is the top choice for intraday traders due to its seamless platform and advanced trading tools. Zerodha with its user-friendly interface offers real time customer support, that makes Zerodha demat account is best for intraday traders.
Top Demat Account for IPO Investment
Upstox – Upstox offers best service for IPO investors with its user-friendly platform, allowing quick and easy participation in new offerings. With low brokerage fees and efficient processing, Upstox demat account is considered best choice for IPO investment.
Compare Top 10 Demat Accounts for Mutual Fund Investment
Demat Account Name
Rating
Groww
9.42
Angel One
9.24
Zerodha
9.21
Upstox
9.20
HDFC Securities
9.08
ICICI Direct
9.05
Kotak Securities
8.91
Motilal Oswal
8.87
IIFL
8.80
5Paisa
8.53
Conclusion
In this post, there is a detailed description of almost all leading full-service and discount stockbrokers in India. For more details, you can check the respective pages of these stockbrokers on our website.
FAQs – Best Demat Account in India
What are the documents required to open a demat account?
The following documents are required to open the demat account in India. Proof of Income, Proof of Identity and Proof of Address.
Which is the best Demat account in India?
Here are some of the leading stockbrokers that offer the best Demat accounts in India. 1. Zerodha 2. Upstox 3. IIFL 4. Angel Broking 5. SAS Online
Which is the No 1 Demat account broker in India?
Angel Broking & Zerodha is consideres as India’s no 1 demat account broker, other than this these are the India’s best demat account for beginners – 1. Angel Broking 2. Motilal Oswal 3. Zerodha 4. ICICIDirect 5. IIFL
Which is the best Demat account for IPO?
According to many surveys and research reports, it has been found Zerodha tops the list of stockbrokers when it comes to open a free Demat account for IPO investment.
Which is the Top Demat Account in India for Intraday Trading?
The top 5 Demat accounts for intraday trading in India are: 1. Zerodha 2. Upstox 3. Angel Broking 4. 5Paisa 5. TradeSmart Online
Which is the best Demat broker in India for Small Investors?
These demat brokers are providing top demat for small investors, please check it out: 1. Zerodha Demat Account 2. Angel Broking Demat Account 3. Sharekhan Demat Account 4. Edelweiss Demat Account 5. 5Paisa Demat Account