Best Demat Account in India – List of Top 10 Demat Accounts in India 2024

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

Best Demat Account NameAccount Opening ChargesMaintenance Charges(AMC)
Paytm Money Demat Account₹100Free
Zerodha Demat Account₹200₹300 per year
Upstox Demat Account₹0₹150 per year
5Paisa Demat Account₹0₹300 per year
Groww Demat Account₹0Free
Axis Direct Demat Account₹0₹650 per year, free for first year
Kotak Securities Demat Account₹0₹600 per year
SBICAP Securities Demat Account₹850₹0 per year
HDFC Securities Demat Account₹0₹750 per year
ICICI Direct Demat Account₹0₹300 per year
IIFL Demat Account₹0₹250 per year
Sharekhan Demat Account₹0₹400 per year
Motilal Oswal Demat Account₹0₹199 per year
Angel Broking Demat Account₹0₹240 per year
Wisdom Capital Demat Account₹0Up to ₹999 per year

Click here to Open Free Demat Account Now

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 NameDelivery chargesIntraday charges Options chargesFutures charges
Paytm Money Demat AccountRs. 20 or 0.10% (whichever is lesser) as per executed orderRs. 20 or 0.05% (whichever is lower) as per the executed orderFlat Rs. 20 per executed orderFlat Rs. 20 per executed order
Zerodha Demat AccountFreeRs. 20 or 0.03% (whichever is lower) as per the executed orderFlat Rs.20 per executed orderFlat Rs. 20 per executed order
Aditya Birla Capital Demat AccountRs.20 or 0.25% (whichever is lower) per executed orderRs. 0 or 0.30% (whichever is lower) per executed orderFlat Rs. 20 per executed orderFlat Rs. 20 per executed order
Upstox Demat Account2.5% or Rs.20 (whichever is lesser)Rs. 20 or 0.05% (whichever is lesser) per executed orderFlat Rs.20 per executed orderFlat Rs. 20 per executed order
5Paisa Demat AccountRs. 20 or 0.25% (whichever is lesser) per executed order₹20 or 0.05% (whichever is lesser) per executed orderFlat Rs.10 per executed orderFlat Rs.10 per executed order
Groww Demat AccountRs.20 or 0.05% (whichever is lesser) per executed orderRs. 20 or 0.25% (whichever is lesser) per executed orderFlat Rs. 20 per executed orderFlat Rs. 20 per executed order
Axis Direct Demat AccountFreeRs. 20 or 0.03% (whichever is lesser) per executed orderFlat Rs. 20 per executed orderFlat Rs. 20 per executed order
Kotak Securities Demat AccountRs. 20 or 0.25% (whichever is lesser) per executed orderRs. 0Flat Rs. 20 per executed orderFlat Rs. 20 per executed order
SBICAP Securities Demat AccountRs. 20 or 2% (whichever is lesser) per executed orderRs. 0 or 0.30% (whichever is lesser) per executed orderFlat Rs. 20 per executed orderFlat Rs. 20 per executed order
HDFC Securities Demat AccountRs. 20 or 0.50% (whichever is lesser) per executed orderRs. 20 or 0.10% (whichever is lesser) per executed orderRs. 100 per executed order0.05%

List of Best Demat Account in India – Top 10 Demat Accounts in India

  1. Zerodha
  2. Upstox Demat Account
  3. Angel One Demat Account
  4. Groww Demat Account
  5. Sharekhan Demat Account
  6. IIFL Demat Account
  7. 5Paisa Demat Account
  8. Samco Securities
  9. Edelweiss Demat Account
  10. 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
ProsCons
Offer detail portfolio reports in detailHigh account opening fee
Avaialable in some regional languages
Trading charts with over 100 indicators

Demat Account Opening Charges

Account Opening ChargesRs 200 for Trading & Demat A/C
AMC for Trading AccountRs 0
AMC for Demat AccountRs 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 CategoryBrokerage Charges
Equity DeliveryRs 0 (Free)
IntradayFlat Rs 20 or 0.03% (whichever is lower) per executed order
Equity FutureFlat Rs 20 or 0.03% (whichever is lower) per executed order
OptionsFlat Rs 20 per executed order (on Turnover)
Currency FuturesFlat Rs 20 or 0.03% (whichever is lower) per executed order
 OptionsFlat Rs 20 or 0.03% (whichever is lower) per executed order
CommodityFlat Rs 20 or 0.03% (whichever is lower) per executed order
Mutual FundRs 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
ProsCons
Offers analytics and statistics for stocks, mutual funds, and other investmentsDoesn’t support IPO investment
Enables investment in foreign markets
Commission-free SIP purchases

Account Opening Charges

Demat Account Opening ChargesFree Demat Account
Trading Account Opening ChargesRs 0
Demat AMCRs 0

Groww Brokerage Charges

Trading CategoryBrokerage Charges
Equity DeliveryRs 20 per executed order or 0.05% whichever is lower
Equity IntradayRs 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
ProsCons
Offers advisory servicesWeak portfolio analysis
No account opening fee
Commission-free SIP purchases

Demat Account Opening Charges

Trading Account Opening ChargesRs 300 (One Time)
Annual maintenance charges (AMC)Rs 0
Demat Account Opening ChargesRs 0 (One Time)
Account Maintenance Charges (AMC)Rs 540 yearly (levied as Rs 45 per month)

5Paisa Brokerage Charges

CategoryBrokerage Fee
Equity Intra-dayRs 20 per trade
DeliveryRs 20 per trade
Equity FuturesRs 20 per trade
OptionsRs 20 per trade
Commodity FuturesRs 20 per trade
OptionsRs 20 per trade
Currency FuturesRs 20 per trade
OptionsRs 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
ProsCons
Detail insights into your portfolioDoesn’t have Currency trading option
Advanced market analysis tools
Historical data and risk evaluations

Paytm Money Account Charges

Trading Account Opening ChargesRs 0
Annual maintenance charges (AMC)Rs 300
Demat Account Opening ChargesRs 0
Account Maintenance Charges (AMC)Free

Paytm Money Brokerage Charges

Trading SegmentBrokerage Charges
Equity DeliveryRs 0 (Free) (minimum Rs 0.01 per executed trade)
Intraday EquityRs 10 per executed order or 0.05% whichever is lower
FutureRs 10 per executed order
Equity OptionsRs 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
  • Option to trade in stocks even with zero balance
  • Advanced mobile trading app – StockNote
  • Instant account opening in a hassle-free manner
ProsCons
Higher delivery leverageLimited App features
Zero money trading options

Account Opening Charges

Trading Account Opening Charges (One Time)NIl
Annual Maintenance Charges AMC (Yearly Fee)Nil
Demat Account Opening Charges (One Time)Nil
Account Annual Maintenance Charges AMC (Yearly Fee)Rs 400

SAMCO Brokerage Charges

Equity DeliveryRs 20 per executed order
IntradayRs 20 per executed order
Equity FuturesRs 20 per executed order
OptionsRs 20 per executed order
Currency FuturesRs 20 per executed order
OptionsRs 20 per executed order

ICICI Direct – Rs. 20 per 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
ProsCons
You can buy buy a fraction of a shareHigh brokerage charges
Less space consuming app

Account Opening Charges

TransactionCharges
Trading Account Opening ChargesNil – Free Demat Account
Account AMC ChargesNil
Demat Account Opening ChargesNil
Demat AMCRs 300 (from 2nd year onwards)

ICICIdirect Brokerage Charges

SegmentBrokerage Charges
Monthly Fee (Fixed)0
Equity Delivery0.55%
IntradayRs 20 per order
Equity FuturesRs 0 (Free)
OptionsRs 20 per order
Currency FuturesRs 20 per order
OptionsRs 20 per order
Commodity FuturesRs 20 per order
OptionsRs 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
ProsCons
Provides a user-friendly experienceAverage customer service.
5X Margin offerings

Account Opening Charges

Trading Account Opening ChargesNill
Annual maintenance charges (AMC)Nill
Demat Account Opening ChargesNill – Free Demat Account
Account Maintenance Charges (AMC)Rs 240

Brokerage Charges

CategoryBrokerage Charges
Equity DeliveryNil
Equity IntradayFlat Rs 20 per executed order
FuturesFlat Rs 20 per executed order
Equity OptionsFlat Rs 20 per executed order
Currency FuturesFlat Rs 20 per executed order
OptionsFlat Rs 20 per executed order
Commodity FuturesFlat Rs 20 per executed order
OptionsFlat 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
ProsCons
Brokerage fee is notably lowerNo 3-in-1 account
Offers algo trading with advanced features

Edelweiss Account Opening Charges

TransactionCharges
Trading Account Opening ChargesNil
Annual Maintenance Charges AMCNil
Demat Account Opening ChargesNil
Account Annual Maintenance Charges AMCRs 240

Edelweiss Brokerage Charges

SegmentBrokerage Charges
Monthly Charges (Fixed)
Equity DeliveryRs 0 (Free)
IntradayFlat Rs 20 per executed order
Equity FuturesFlat Rs 20 per executed order
OptionsFlat Rs 20 per executed order
Currency FuturesFlat Rs 20 per executed order
OptionsFlat Rs 20 per executed order
Commodity FuturesFlat Rs 20 per executed order
OptionsFlat 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
ProsCons
Portfolio analysis tools and price alertsHigher brokerage fees
Portfolio management services

Account Opening Charges

Trading Account Opening ChargesNil
Account AMC ChargesRs 0
Demat Account Opening ChargesRs 0
Demat AMCRs 250 (Free for 1st year)

IIFL Securities Brokerage Charges

Equity DeliveryNil
IntradayRs 20 per order
Equity FuturesRs 20 per order
OptionsRs 20 per order
Currency FuturesRs 20 per order
OptionsRs 20 per order
Commodity FuturesRs 20 per order
OptionsRs 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
ProsCons
Can use fixed deposit as collateral for futures and options tradinglengthy account opening process
Notification of prices of your wish listed stocks.

Account Opening Charges

Trading Account Opening ChargesNil
Account AMC ChargesNil
Demat Account Opening ChargesNil
Demat AMCRs 400 (Free for 1st year)

Brokerage Charges

Equity Delivery0.50%
Intraday0.10%
Equity Futures0.10%
OptionsRs 50 per lot
Currency Futures0.10%
OptionsRs 30 per lot
Commodity Futures0.03%
Options0.03%

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 NameRating
Groww9.42
Angel One9.24
Zerodha9.21
Upstox9.20
HDFC Securities9.08
ICICI Direct9.05
Kotak Securities8.91
Motilal Oswal8.87
IIFL8.80
5Paisa8.53

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

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