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

By TBS Team | May 22, 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.

Best Demat Account in IndiaWhat 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 Name Account Opening Charges Maintenance Charges(AMC)
Paytm Money Demat Account ₹100 Free
Zerodha Demat Account ₹200 ₹300 per year
Upstox Demat Account ₹0 ₹150 per year
5Paisa Demat Account ₹0 ₹300 per year
Groww Demat Account ₹0 Free
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 ₹0 Up 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 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

  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

1. Zerodha

Zerodha Demat Account
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)

2. Groww – Top Demat Account in India

Groww Demat Account
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

3. 5Paisa

5 Paisa Demat Account
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

4. Paytm Money – Top Demat Account

Paytm Money 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

    5. Samco Securities – Best Online Demat Account

Samco Securities 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

Pros

Cons

Higher delivery leverage Limited 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 Delivery Rs 20 per executed order
Intraday Rs 20 per executed order
Equity Futures Rs 20 per executed order
Options Rs 20 per executed order
Currency Futures Rs 20 per executed order
Options Rs 20 per executed order

  6. ICICI Direct – Rs. 20 per trade

ICICI Direct Demat Account
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

  7. Angel One – Best Demat Account of 2023

Angel One Demat Account
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

Categogry 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

  8. Edelweiss – Rs. 10 per trade

Edelweiss Demat Account
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

  9. IIFL Securities – Top Demat Account in India

IIFL Securities Demat Account
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

  10. Sharekhan

Sharekhan Demat Account
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 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

1. 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

2. 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

3. 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 –

  • Angel Broking
  • Motilal Oswal
  • Zerodha
  • ICICIDirect
  • IIFL

4. 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.

5. 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

6. 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:

  • Zerodha Demat Account
  • Angel Broking Demat Account
  • Sharekhan Demat Account
  • Edelweiss Demat Account
  • 5Paisa Demat Account

Disclaimer: This blog is written for educational purpose only. Data, Securities, Advisory and Quotes mentioned here are for guidance only. Doing research by investors itself is highly recommended.

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