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10 Best Demat Account in India 2022

Best Demat Account 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.

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Best Demat Account in India

1. Upstox

In my opinion, Upstox is the overall best place to create a Demat account in India for 2022. 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’m using it for more than a year and I love it more than Zerodha. Being a first-time trader, I found the Upstox user interface is much easier for me.

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 easily look into the Movers and Shakers based on different criteria like “1 Week High” “1 Month High” etc.

Upstox Movers and Shakers

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.

Losers

Reasons to choose Upstox:

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

2. Angel One

BUDGET PICK
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.

GET FREE DEMAT ACCOUNT

The 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 (offer valid till November 30, 2021). 

One Offers

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

Angel One Mobile App

Apart from their app, they also redesign the web interface that offers a better trading experience. The layout is clean without not distractions and that’s one thing why I started liking them recently.

Web Interface

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

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.

VISIT ZERODHA.COM

Zerodha is another best place to create a Demat account in India. The Bangalore-based discount broker company, Zerodha started back in 2010 and created 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 pretty 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. 

Moving over to the interface, Zerodha has a user-friendly interface for sure, 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 how the holding dashboard looks like:

holdings

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 Demat Account

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.

GET FREE DEMAT ACCOUNT

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
ICICI Direct

Through their Neo plan, you can pay just Rs. 20/ trade for intraday and future 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, then you can have a demat account opened in less than 5 minutes as they will fetch your bank data to fasten 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 of the downsides are the lack of multiple trading graphs, lack of brokerage calculator, and poor mobile app.

Key Features

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

5. 5Paisa

FREE DEMAT ACCOUNT
5 Paisa Free Demat Account

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.

VISIT 5PAISA.COM

5Paisa is a decent Demat account broker in India. It comes with a flat fee structure. The discount broker is also available as 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 for 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.

Key Features

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

6. Sharekhan

Sharekhan
Sharekhan

Sharekhan started in 2000 and has been around for many years now with over 16 lakh customers. Sharekhan is one of the first few companies to make online trading popular in Indian. 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 certainly not the cheapest option available since it charges 10 paise per share, and this eventually makes it hard to trade in low-priced stocks. 

One way to reduce brokerage is by selecting its 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.

Key Features

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

7. HDFC Securities

HDFC Securities
HDFC Securities

HDFC Securities is a subsidiary of HDFC Bank, which started back 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. Transferring funds is ridiculously simple with HDFC Securities. 

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. 

Key Features

  • 3 in 1 Demat account with easy 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 subsidiary of Kotak Mahindra Bank and started back in 1994. Currently, Kotak Securities has around 17 Lakh customers. The platform allows you to trade in the Stock Market, invest in IPOs, Mutual Funds, or Currency Derivatives. Further, it offers you offline options alongside online trading. 

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 of the 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.

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 has over 10 Lakh customers currently. The company is undoubtedly a very reliable company 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 an option to pay a one-time price of Rs 2500 under the lifetime AMC scheme to avoid paying an annual maintenance charge every month.

As far as the trading charges go, 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 its mobile application. All the applications work equally well.

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

Religare Broking Ltd. is a subsidiary of Religare Enterprises and has more than 10 customers currently. The broking company allows you to trade or invest in Equity, Currency, and Commodity as well as depository participant services. RBL doesn’t charge any amount on Demat account opening. 

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 pay a refundable fee of Rs 2,500. It goes around a fee of 0.05% on Intraday and 0.5% on Delivery. 

Key Features

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

Editors Note

One confusion that most beginners encounter is the difference between the best Demat account in India and a trading account. It is effortless to understand. To trade or invest in the share market, you would need both accounts. 

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 this far, you should now have a decent idea of all the available brokers for the best Demat account in India. However, choosing a suitable broker platform is completely your call and depends a lot on your trading perspective, which can be long term, short term, or Intraday. 

By 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 by far better in all aspects, and it continues to be my favorite with reasonable brokerage charges, advanced chart, and technical analysis tools.

43 comments add your comment

  1. Those who having a customer care at Regional and Regional Language
    Is Best For Me.

    • Your stocks are safely stored electronically with Government CDSL and NSDL.So, your stocks are 100% safe. Even if any of the companies gets closed, you can claim all your holdings. Zerodha and Upstox are the two largest brokers in India, with 50 lakh+ and 40 lakh+ active accounts, respectively. So, I put my trust in them.

  2. what about India Infoline trading and Demat Account? please comment.

    • IIFL is a full-service broker, so their charges are higher than Upstox and Zerodha.

      • What do you mean by full service broker? I currently have IIFL and looking for zerodha/upstox. Can you tell me what i might lose please?

        • Full-Service brokers offer a range of services like stock reports, advisory, and ideas to buy stocks. Usually, they charge in percentage rather than a fixed amount. Let’s say you buy a stock for 1 lakh, the charge on Upstox/Zerodha is Rs.20. In IIFL, they charge 0.025% on the total amount, so it costs Rs.2500 if you buy stocks worth 1 lakh on IIFL.

  3. Angel Broking is good or not pls suggest…what is difference between upstox and angel broking

    • With the recent launch of Angel one, I believe they’re a good equivalent to Upstox. The user interface is neat and clean that gives a pleasant user experience. Totally recommend them.

    • SMC charge 0.3% for equity delivery and not a flat fee like on Upstox. So, if you trade a large amount, the brokerage charges will be higher at SMC.

  4. HDFC demat account is good or not good anyone can tell me about HDFC demat account if anyone have any suggestions about demat account so please recommend me I want to open a demat account but I am very confused because there is lot’s of account in the India market
    Please help me
    Thanks to all

    • There are many drawbacks with Groww. They are good and growing but lacks many features of Upstox and Zerodha.

    • For Zerodha – Rs 300 + 18% GST. If you sign up with our link, you will get rewards points. You can redeem those points to get Rs. 0 AMC charges. The current AMC charge of Upstox is Rs. 0.

  5. Looking for option in Demat account services, with cheaper in fee & other service & maintenance charges.
    Also, if possible they can guide in trading matter, as this would be my first experience in stock market.

    • If u need to learn trading, Zerodha has some detailed guides here. Both Zerodha and Upstox offers competitive pricing better than any stock brokers in India. Currently, Upstox offers free demat account (usually Rs. 249), so I recommend them.

    • SBI comes with high account opening, maintenance and trading charges. We don’t recommend it.

  6. I have sbismart trading account which more simple convenient . But you have not recommended. I do not the reason for this. Anything wrong in this trading?

    • SBI has the highest account opening (rs.850) and AMC charges (rs.750) than most other platform. Zerodha charges Rs. 200 account opening and AMC charge of Rs. 300. SBI charges 0.50% for equity delivery (Zerodha charges Rs. 0) and SBI also have higher cost for Equity Options/Equity Intraday. In no way, SBICap is better than our top recommended platforms.

  7. Its safe to share personal information with signature to IIFL demat app?
    Replacing pls

    • Sharing personal information is a regular process. Make sure you’re entering the details in the official site of IIFL and not at any 3rd party sites.

  8. Please comment on Federal bank demat account. Their charges and some details on trading account.

    • Hi, I didn’t have experience with Federal Demat Account. I will share my feedback after using them. Based on their doc, there are no account opening charges, the AMC charge is Rs. 600/year and you can check the doc for other charges.

  9. I want open a trading account so who dp was best according to u where charges are minimum and gave me full satisfaction.
    Please recommend me..

    • Try Zerodha or Upstox. Both are neck to neck good at their offerings. If you need a free demat account at no AMC charges, then try Upstox.

    • The swastika is a full service broker, so their brokerage charges should be higher. I checked their site and there is no information on trading charges mentioned anywhere. Personally, I stay away from such firms as they are not transparent.

  10. I have very bad experience with the Demat account with ANGEL ONE.
    I will suggest do not go for Angel One.

    • I just now started using it. I will update this post in a week with my thoughts on Paytm Money.

  11. If you’re looking for Demat investment, this is the right blog. The blog explains the top 10 brokers in India and their best features. You can choose the best one according to your need and financial goal. You people can also go with Kotak Securities.

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