Last updated on August 26, 2023
Are you looking to try your hands on stock trading? If yes, it is necessary for you to open the best demat account in India first. In share market there are many stock brokers who is providing top demat account in India, 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 this article 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 10 Demat Accounts in India – Best Demat Account in India
| Ranking | Stock Broker | Rating |
| 1 | Zerodha Demat Account | 9.3/10 |
| 2 | ICICI Direct Demat Account | 9.2/10 |
| 3 | Upstox Demat Account | 9.1/10 |
| 4 | Angel One Demat Account | 9.08/10 |
| 5 | IIFL Demat Account | 9.01/10 |
| 6 | Sharekhan Demat Account | 8.95/10 |
| 7 | Groww Demat Account | 8.89/10 |
| 8 | 5Paisa Demat Account | 8.82/10 |
| 9 | Edelweiss Demat Account | 7.85/10 |
| 10 | Paytm Money Demat Account | 7.73/10 |
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Top 5 Demat account with lowest brokerage charges
If you want to open the best 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.
| Segments & Charges | Edelweiss | Zerodha | Angel One | Upstox | Groww |
| Equity Delivery Trading | Rs.10 per Order | Rs 0 (Free) | Rs 0 (Free) | Rs 0 (Free) | Rs 0 (Free) |
| Equity Intraday Trading | Rs.10 per Order | Rs.20 per Order | Rs.20 per Order | Rs.20 per Order | Rs 20 per Order |
| Commodity Options Trading | NA | Rs.20 per Order | Rs.20 per Order | Rs.20 per Order | Rs 20 per Order |
| Equity Futures Trading | Rs.10 per Order | Rs.20 per Order | Rs.20 per Order | Rs.20 per Order | Rs 20 per Order |
| Equity Options Trading | Rs.10 per Order | Rs.20 per Order | Rs.20 per Order | Rs.20 per Order | Rs 20 per Order |
| Currency Futures Trading | Rs.10 per Order | Rs.20 per Order | Rs.20 per Order | Rs.20 per Order | NA |
| Currency Options Trading | Rs.10 per Order | Rs.20 per Order | Rs.20 per Order | Rs.20 per Order | NA |
| Minimum Brokerage | Rs.10 per Order | Zero | Zero | Zero | Zero |
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
Complete Review of all best demat account in India –
1. 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. It is certainly a great choice for those looking to open the best Demat account in India.
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
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) |
| Equity 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 |
| Equity Options | Flat Rs 20 per executed order (on Turnover) |
| Currency Futures | Flat Rs 20 or 0.03% (whichever is lower) per executed order |
| Currency 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
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
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 – Best Demat Account in India
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
Demat Account Opening Charges
| Trading Account Opening Charges | Rs 300 (One Time) |
| Trading Annual maintenance charges (AMC) | Rs 0 |
| Demat Account Opening Charges | Rs 0 (One Time) |
| Demat 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 |
| Equity Delivery | Rs 20 per trade |
| Equity Futures | Rs 20 per trade |
| Equity Options | Rs 20 per trade |
| Commodity Futures | Rs 20 per trade |
| Commodity Options | Rs 20 per trade |
| Currency Futures | Rs 20 per trade |
| Currency Options | Rs 20 per trade |
4. 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. Your search for the best Demat account in India ends at Paytm.
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
Paytm Money Account Charges
| Trading Account Opening Charges | Rs 0 |
| Trading Annual maintenance charges (AMC) | Rs 300 |
| Demat Account Opening Charges | Rs 0 |
| Demat 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) |
| Equity Intraday | Rs 10 per executed order or 0.05% whichever is lower |
| Equity Future | Rs 10 per executed order |
| Equity Options | Rs 10 per executed order |
5. 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 the best demat account in India. 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
Account Opening Charges
| Trading Account Opening Charges (One Time) | NIl |
| Trading Annual Maintenance Charges AMC (Yearly Fee) | Nil |
| Demat Account Opening Charges (One Time) | Nil |
| Demat Account Annual Maintenance Charges AMC (Yearly Fee) | Rs 400 |
SAMCO Brokerage Charges
| Equity Delivery | Rs 20 per executed order |
| Equity Intraday | Rs 20 per executed order |
| Equity Futures | Rs 20 per executed order |
| Equity Options | Rs 20 per executed order |
| Currency Futures | Rs 20 per executed order |
| Currency Options | Rs 20 per executed order |
6. 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
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% |
| Equity Intraday | Rs 20 per order |
| Equity Futures | Rs 0 (Free) |
| Equity Options | Rs 20 per order |
| Currency Futures | Rs 20 per order |
| Currency Options | Rs 20 per order |
| Commodity Futures | Rs 20 per order |
| Commodity Options | Rs 20 per order |
7. Angel Broking – 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
Account Opening Charges
| Trading Account Opening Charges | Nill |
| Trading Annual maintenance charges (AMC) | Nill |
| Demat Account Opening Charges | Nill – Free Demat Account |
| Demat Account Maintenance Charges (AMC) | Rs 240 |
Brokerage Charges
| Categogry | Brokerage Charges |
| Equity Delivery | Nil |
| Equity Intraday | Flat Rs 20 per executed order |
| Equity Futures | Flat Rs 20 per executed order |
| Equity Options | Flat Rs 20 per executed order |
| Currency Futures | Flat Rs 20 per executed order |
| Currency Options | Flat Rs 20 per executed order |
| Commodity Futures | Flat Rs 20 per executed order |
| Commodity Options | Flat Rs 20 per executed order |
8. 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
Edelweiss Account Opening Charges
| Transaction | Charges |
| Trading Account Opening Charges | Nil |
| Trading Annual Maintenance Charges AMC | Nil |
| Demat Account Opening Charges | Nil |
| Demat Account Annual Maintenance Charges AMC | Rs 240 |
Edelweiss Brokerage Charges
| Segment | Brokerage Charges |
| Monthly Charges (Fixed) | |
| Equity Delivery | Rs 0 (Free) |
| Equity Intraday | Flat Rs 20 per executed order |
| Equity Futures | Flat Rs 20 per executed order |
| Equity Options | Flat Rs 20 per executed order |
| Currency Futures | Flat Rs 20 per executed order |
| Currency Options | Flat Rs 20 per executed order |
| Commodity Futures | Flat Rs 20 per executed order |
| Commodity Options | Flat Rs 20 per executed order |
9. IIFL Securities – Top Demat Account in India
Established in 1995, IIFL Securities is one of the popular full-service stockbrokers in India and one of the great choices for the best demat account 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
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 |
| Equity Intraday | Rs 20 per order |
| Equity Futures | Rs 20 per order |
| Equity Options | Rs 20 per order |
| Currency Futures | Rs 20 per order |
| Currency Options | Rs 20 per order |
| Commodity Futures | Rs 20 per order |
| Commodity Options | Rs 20 per order |
10. Sharekhan – Best Demat Account in India
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. It would be your best choice to open the best demat account in India.
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
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% |
| Equity Intraday | 0.10% |
| Equity Futures | 0.10% |
| Equity Options | Rs 50 per lot |
| Currency Futures | 0.10% |
| Currency Options | Rs 30 per lot |
| Commodity Futures | 0.03% |
| Commodity Options | 0.03% |
Best Demat Account for Beginners
| Demat A/C For Beginners | |
| Best Demat Account | Rating |
| Zerodha | 9.32 |
| Upstox | 9.14 |
| Angel One | 9.12 |
| IIFL | 9.11 |
| 5Paisa | 8.99 |
| Groww | 8.96 |
| ICICI Direct | 8.82 |
| Kotak Securities | 8.78 |
| Motilal Oswal | 8.72 |
| HDFC Securities | 8.45 |
Best Demat Account in India for Intraday Traders
| Demat A/C For Intraday Traders | |
| Demat Account Name | Rating |
| Zerodha | 9.39 |
| Angel One | 9.21 |
| Upstox | 9.19 |
| Groww | 9.18 |
| 5Paisa | 9.06 |
| ICICI Direct | 9.03 |
| Kotak Securities | 8.89 |
| Motilal Oswal | 8.85 |
| HDFC Securities | 8.78 |
| IIFL | 8.51 |
Top 10 Demat Account in India for Small Investors
| Demat For Small Investors | |
| Best Demat Account | Rating |
| Angel One | 9.43 |
| Zerodha | 9.25 |
| Upstox | 9.23 |
| Groww | 9.22 |
| ICICI Direct | 9.10 |
| Kotak Securities | 9.07 |
| Motilal Oswal | 8.93 |
| HDFC Securities | 8.89 |
| 5Paisa | 8.82 |
| IIFL | 8.55 |
Top Online Demat Account for IPO Investment
| Demat For IPO Investment | |
| Best Demat Account | Rating |
| Angel One | 9.45 |
| Zerodha | 9.27 |
| Upstox | 9.25 |
| Kotak Securities | 9.24 |
| Motilal Oswal | 9.12 |
| ICICI Direct | 9.09 |
| Groww | 8.95 |
| 5Paisa | 8.91 |
| HDFC Securities | 8.84 |
| IIFL | 8.56 |
Best Demat Accounts for Long-Term Investment
| Demat For Long Term Investment | |
| Demat Account Nmae | Rating |
| Kotak Securities | 9.43 |
| Motilal Oswal | 9.25 |
| ICICI Direct | 9.23 |
| Angel One | 9.22 |
| HDFC Securities | 9.10 |
| IIFL | 9.07 |
| Upstox | 8.93 |
| 5Paisa | 8.89 |
| Zerodha | 8.82 |
| Groww | 8.55 |
Top 10 Online Demat Account 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 |
Top Demat Account from Banking Brokers
| Demat From Banking Broker | |
| Best Demat Account | Rating |
| ICICI Direct | 9.37 |
| Kotak Securities | 9.19 |
| HDFC Securities | 9.17 |
| Axis Direct | 9.13 |
| SBI Securities | 9.08 |
| IDBI Direct | 8.98 |
| Canmoney | 8.94 |
| Standard Chartered Securities | 8.87 |
| BOI Star | 8.85 |
| Yes Securities | 8.75 |
Conclusion – Best Demat Account in India
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 about Best Demat Account in India
1. What are the documents required to open a demat account?
The following documents are required to open the best 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.
- Zerodha
- Upstox
- IIFL
- Angel Broking
- 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 in India 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:
- Zerodha
- Upstox
- Angel Broking
- 5Paisa
- TradeSmart Online
6. Which is the best Demat broker in India for Small Investors?
These demat brokers are providing best demat account in India for small investors, please check it out:
- Zerodha Demat Account
- Angel Broking Demat Account
- Sharekhan Demat Account
- Edelweiss Demat Account
- 5Paisa Demat Account