Stock markets have attracted many investors in recent times due to its steep growth curve and attractive returns gained with the right trading strategy. With the bull run taking the stock markets to new highs, there are many potential investors driven by the fear of missing out on investing in the stock markets. This fear of missing out has led to a spike in the opening of best demat account in India and trading accounts, two essentials for investing in the markets.
A demat account hold shares in the digital form, being the electronic equivalent of physical share certificates. A trading account is a platform for buying and selling securities on the stock exchange. While a few investors build their portfolio backed by strong research, the rest just invest basis word of mouth and tips from their acquaintances.
Even while opening a demat and trading account, investors often just go with big brand names without their bit of research. There are several factors like brokerage, opening charges, and many other charges which need to be considered before choosing the best demat account.
To make things easier for you, we have compiled a list of the best demat accounts in India right now with detailed information that will help you make your decision and begin your stock market journey.
11 Best Demat Account In India 2021 – Reviewed
#1. Zerodha Demat Account
If you ask any stock market veteran today for the best demat account in India, Zerodha will be a common answer. Having a customer base of more than 30 lakhs, Zerodha has worked its way to becoming the biggest stockbroker in India over a period of 9 years with many lucrative products and offerings. Its most attractive offering is zero brokerage on all investments in equities and mutual funds, irrespective of the trade size. This is their biggest USP which brings customers to their counters. On intraday Equity Intraday and Futures, it charges a meagre 0.03% brokerage or Rs. 20 per trade, whichever is lower.
Additionally, it ensures customer delight through its quick responding customer support system. It is also known for its technological innovations. From a simplified user interface for newbies to charts & tools for technical analysis coupled with customization options for advanced traders, it has something for all types of customers.
The account opening procedure of Zerodha is 100% online and completely hassle-free. All you need is your Aadhar card and your account can be opened in a few minutes. Below are the charges for account opening:
- Online Demat & Trading Account Opening with Aadhar Card: Rs. 200
- Commodity account opening charges – Rs 100
- Commodity account opening charges – Rs 100
- Offline Account Opening with Form: Rs. 400
Other than attractive Brokerage, Zerodha has the most robust trading platform called Zerodha KITE which is free. It is the most user-friendly platform. It is clutter-free, designed with fewer complications and stands out among its peers. It also undertakes several investor education initiatives which make us include it in the list of best Demat accounts India.
Brokerage Structure
| Segment | Zerodha Brokerage Charges |
| Equity Intraday | Rs. 20/order or 0.03% whichever is lower |
| Equity Delivery | No brokerage |
| Equity Futures | Rs. 20/order or 0.03% whichever is lower |
| Equity Options | Rs. 20/order |
| Currency Futures | Rs. 20/order or 0.03% whichever is lower |
| Currency Options | Rs. 20/order or 0.03% whichever is lower |
| Commodities | Rs. 20/order or 0.03% whichever is lower |
#2. Upstox Demat Account
Completing close to Zerodha is another popular name in the list of best trading account called Upstox. Though its products and offerings are quite competitive to its competitors and almost similar to Zerodha, a solid backing by ace investor and prominent businessman like Mr. Ratan Tata is what sets it apart and instills trust among customers.
Talking about brokerage, it charges zero brokerage on delivery trades. For intraday trades and other segments, the maximum brokerage is capped at Rs. 20 per trade irrespective of the trade volume. In this aspect, it is at par with Zerodha.
The differentiating factor in Upstox is that it lets you open a free demat account and is completely online which makes it a smooth and fast process. Additionally, demat charges are also waived for the first year and charged at Rs. 150 from second year onwards.
Account Opening charges:
- Trading & Demat Account: Free
- Annual Maintenance: Rs. 25 per month.
On the service front, Upstox has structured customer care that solves customer problems with the highest priority. Upstox’s trading platform is a web browser Upstox Pro Web which is easy to access and understand. It assists traders with numerous tools and charts to facilitate their trade analysis, making it one of the best trading platform in India.
Brokerage Structure
| Segment | Brokerage Charges |
| Equity Intraday | Rs. 20/order or 0.03% whichever is lower |
| Equity Delivery | No brokerage |
| Equity Futures | Rs. 20/order or 0.03% whichever is lower |
| Equity Options | Rs. 20/order |
| Currency Futures | Rs. 20/order or 0.03% whichever is lower |
| Currency Options | Rs. 20/order or 0.03% whichever is lower |
| Commodities | Rs. 20/order or 0.03% whichever is lower |
#3. Angel Broking Demat Account
One of the preferred stockbrokers in the industry, Angel broking is a household name for best trading account. It currently trades on behalf of 2.15 million of its clients. Angel broking extends its services to Portfolio Management Services and Life Insurance as well apart from equity and Mutual Funds.
Through its marketing initiatives, Angel has established its credibility. This powerhouse operates through a massive network of over 8500 sub-brokers and has established its presence across the Indian geography.
Though Angel began its operations with a brokerage that was a percentage value of total trading value, it changed to flat fee brokerage similar to new entrants in the market who brought a disruption in the brokerage industry.
With a world-class customer care system, it ensures customer satisfaction. Its trading platforms on an app, desktop software Angel broking speed pro, and browser-based platform Angel Eye are leading examples of best trading platforms in India. It leverages artificial intelligence and continuous research & development. It provides essential data points, news, and assists in the end-to-end performance tracking of your portfolio. You can open a free Demat account and the opening process is seamless and completely online. Angel’s has a team of expert analysts who analyze accurate trends and share profitable tips.
Account Opening Charges:
- Trading & Demat Account Opening: Free
- Annual Maintenance charges: Nil for the first year and fixed at Rs, 450 from 2nd year.
Brokerage Structure:
| Segment | Brokerage Charges |
| Equity Intraday | Rs. 20/order |
| Equity Delivery | Rs. 20/order |
| Equity Futures | Rs. 20/order |
| Equity Options | Rs. 20/order |
| Currency Futures | Rs. 20/order |
| Currency Options | Rs. 20/order |
| Commodities | Rs. 20/order |
#4. 5Paisa Demat Account
5paisa has garnered its user base due to the popularity of its user-friendly mobile app which is known to be the easiest trading app. Also, it charges one of the lowest brokerages in the industry of Rs. 10 under a unique addon scheme Ultra Trader Pack, irrespective of the size of the trade. If you want to open a free demat account, you can choose 5paisa.
Account Opening Charges:
- Trading & Demat Account Opening: Free
Addon Packs:
- Research & Idea Pack: Rs. 499 per month. Brokerage at Rs. 20 per trade and Annual Maintenance charges at Rs. 45 per month which will be charged only in the month when trading takes place.
- Ulta Trader pack: Rs. 999 per month. Brokerage at Rs. 20 per trade and NIL AMC charges.
- Talking about its trading platforms, it has a web-based platform 5Paisa Trader Station Web, 5Paisa. EXE Trader Terminal which is a more advanced version and the 5Paisa mobile App.
Brokerage structure
| Segment | Research & Idea Pack | Ultra Trader Pack |
| Equity Intraday | Rs. 20 per trade | Rs. 10 per trade |
| Equity Delivery | Rs. 20 per trade | Rs. 10 per trade |
| Equity Futures | Rs. 20 per trade | Rs. 10 per trade |
| Equity Options | Rs. 20 per trade | Rs. 10 per trade |
| Currency Futures | Rs. 20 per trade | Rs. 10 per trade |
| Currency Options | Rs. 20 per trade | Rs. 10 per trade |
| Commodities | NA | NA |
#5. IIFL Demat Account
This renowned stockbroker proudly holds the accounts of more than 40 lakh customers offering full-service broking which gives us a reason to call it the best demat account in India. Its presence spans not just across cities but also countries through a vast network of more than 2500 branches across 500 locations. You can open a free demat account with them.
Account Opening Charges:
- Trading & Demat Account Opening: Free
- Annual Maintenance: Free in the first year followed by Rs. 250 from the second year.
Infrastructure like IIFL Trading Terminal which is a state-of-the-art software providing a huge set of data points needed for end-to-end market analysis and multiple value-added services like IPO investments, define IIFL’s business excellence and makes it one of the best trading platforms in India
To suit its diverse customer base, IIFL has flexible brokerage plans. Below is their brokerage structure:
| Segment | Brokerage Charges |
| Equity Intraday | Rs. 20/order or 0.03% whichever is lower |
| Equity Delivery | No brokerage |
| Equity Futures | Rs. 20/order or 0.03% whichever is lower |
| Equity Options | Rs. 20/order |
| Currency Futures | Rs. 20/order or 0.03% whichever is lower |
| Currency Options | Rs. 20/order or 0.03% whichever is lower |
| Commodities | Rs. 20/order or 0.03% whichever is lower |
#6. Sharekhan Demat Account
With a customer base of more than 14 lakh customers, Sharekhan has demonstrated remarkable growth as a full-service broker. They can also be called preferred brokers because in spite of high brokerage compared to its competition, it attracts varied customers. It differentiates itself by offering some commendable services which are lesser focussed areas in the industry which pins them on the top under best demat account India. Some of them are Portfolio Management services by experienced fund managers and online & classroom training sessions for beginners. So if you are new to stock markets and need assistance with trades, you can go for Sharekhan. Additionally, there are no opening charges so you can open a free demat account.
Account Opening charges:
- Demat & Trading Account Opening: Free
- Annual Maintenance Charges: Rs. 400
Coming to their trading platforms, Trade Tiger is their Desktop Application which was known as one of the best trading platforms in India in the earlier times. However, with enhanced platforms coming into the picture, this one seems loaded with excess information. Though it offers various features, it is a bit tedious to use. They also have a mobile app.
What we found attractive is no charges on trading through their customer care. This is beneficial for customers who are not comfortable trading themselves through app and desktop and need guidance. Sharekhan also has multiple touchpoints for a customer to reach them that is email, chat, and toll-free number.
The disappointment is their minimum brokerage charge which is 10/paise per share. Though they have a prepaid brokerage scheme where you pay brokerage upfront, and then avail reduced brokerage, but it has a condition which says that it is valid only for a year. Another limitation is the lack of facility to trade after trading hours.
Brokerage Structure:
| Segment | Brokerage Charges |
| Equity Intraday | 0,10% |
| Equity Delivery | 0.5% (minimum 10 paise) |
| Equity Futures | 0.1% |
| Equity Options | Rs. 100 per trade or 2.5% of premium whichever is higher. |
| Currency Futures | 0.1% |
| Currency Options | Rs. 30 per trade and or 2.5% of premium whichever is higher. |
#7. Religare Demat Account
Religare through its basket of services like equity, currency, and commodity combined with depository participant services have made a name for itself as a best demat account in India. Its customer base of more than 8 lakh is a testimony to it.
Religare has distinguished itself in Annual Maintenance Charges by offering a free lifetime AMC scheme on a one-time non-refundable of Rs. 1,111 or refundable fee of Rs. 2,500. If you don’t wish to opt for this, you can pay an annual maintenance charge of Rs 400. They also let you open a free demat account.
Account Opening Charges:
- Demat &Trading Account Opening: Free
- Annual Maintenance Charges: Rs. 400
However, Religare charges an account processing charge of Rs. 500 which is a disappointment.
On the tech front, Religare is in line with its competitors as it provides a user-friendly trading app which has multiple reporting and charting options for doing stock analysis. They also have an EXE desktop platform, which is a paid platform, chargeable at Rs. 999.
Holistically, Religare is used for advanced traders to operate their bulk deals with a cost attached to everything. With Rs. 10 per offline order, it might not seem too attractive on the comparison chart.
Brokerage structure:
| Segment | Brokerage Charges |
| Equity Intraday | 0.05% |
| Equity Delivery | 0.5% |
#8. Motilal Oswal Demat Account
Motilal Oswal is a premium brand in the stockbroking industry. It has various departments offering every service possible in broking driven by experts who have years of experience.
They include private wealth management, retail broking, and distribution, institutional broking, asset management, investment banking, private equity, commodity broking, currency broking, principal strategies & home finance through a humongous franchise network.
They are the perfect examples of data-driven decision makers. Their expert team of analysts examine data and give stock recommendations across various sectors. This makes Motilal a preferred broker for beginners who need some hand-holding and personalized services in trading. Collectively, all the above factors make it one of the best trading account.
They have ultra-modern trading platforms like MOSL Desktop Application, Mobile App, and SmartWatch App. They are secure, facilitate faster trade execution, real-time quotes, and advanced reports and charts which makes it the best trading platform in India.
They have won several awards for their services which makes the customer willing to pay that extra amount of brokerage which is high as per industry standards. Though we would like to suggest you go through every charge and clause while opening an account for any hidden charges. However, they facilitate the opening of a free demat account.
Account Opening Charges:
- Trading & Demat Account Opening: Free
- Annual Maintenance Charges: Rs. 441
Brokerage Structure:
| Segment | Brokerage Charges |
| Equity Intraday | 0,05% |
| Equity Delivery | 0.5% |
| Equity Futures | 0.05% |
| Equity Options | Rs. 100 per trade |
| Commodity | 0.5% |
| Currency | Rs. 30 per trade |
#9. ICICI Direct Demat Account
ICICI Bank being the largest and most reputed banker in the industry, ICICI direct is their brokerage arm who have benefitted from their existing customer base and reputation. They offer 360-degree broking services including equity, derivatives, currency, commodities, and more.
As they offer end-to-end services, their brokerage is high as they charge on a percentage basis and not a flat fee. This makes it expensive for traders whose trade values are high. However, they have two brokerage plans which include Fixed and Variable brokerage plan.
ICICI Direct has a desktop software, web browser, and mobile app platform for trading. It provides various tools and charts, but you need to shell out a fee per month for their trading software.
Account Opening Charges:
- Demat & Trading Account Opening: Upto Rs. 975 varies basis scheme.
- Annual Maintenance Charges: Free for 1st year and Rs. 700 from 2nd year onwards.
Brokerage Structure:
| Segment | Brokerage Charges |
| Equity Intraday | 0.275% |
| Equity Delivery | 0.55% |
| Equity Futures | 0.05% to 0.03% |
| Equity Options | Rs. 95 per trade |
| Currency Futures | 0.05% to 0.03% |
| Currency Options | Rs. 25 per trade |
#10. SBI CAP Securities Demat Account
The top banker in the country has its stockbroking arm with the name of SBICap Securities which offers end-to-end broking under one roof. Being integrated with banking services, along with investments in equities, they let you avail loans against securities and invest in IPO’s, Mutual funds, ETF’s and more.
SBI carries the trust due to its backing by the Government. It’s biggest asset that it can capitalize on is its wide and diverse customer base.
Account Opening Charges:
- Demat & Trading Account Opening: Rs. 850
- Annual Maintenance Charges: Rs. 400
For trading, SBI has desktop trading software by the name of SBISMART Xpress and SBISMART Mobile app which allow trade executions, real-time stock prices, and charts.
Brokerage Structure:
| Segment | Brokerage Charges |
| Equity Intraday | 0.075% |
| Equity Delivery | 0.5% or 5 paisa per share. |
| Equity Futures | 0.03% or Rs. 50 per trade. |
| Equity Options | 0.03% or Rs. 50 per trade. |
| Currency Futures | 0.015% or Rs. 20 per trade |
| Currency Options | 0.015% or Rs. 20 per trade |
#11. HDFC Securities Demat Account
The largest private bank has also beefed up its establishment in the stockbroking industry through its subsidiary HDFC securities. Being integrated with its parent company, the transfer of funds is flawless eliminating the biggest challenge faced by independent discount brokers.
A wide geographical presence and an attractive customer base of the private bank is icing on the cake for HDFC securities. Additionally, a number of services from equities to IPO, bonds, Insurance, ETF’s, etc. spoils the customer for choice and helps them in centralizing their investments, making it one of the best demat accounts in India.
Trading can be done through their in-house developed platforms like Trade. HDFCSEC which is a browser-based application, HDFC Securities Blink which is a software, and HDFC Securities Mobile App. You can create personal watchlists for stock tracking, execute faster trades, access reports & charts and customize the interface. Though the platforms are well-functioning, they are mediocre in terms of user-friendliness. HDFC Blink is a paid platform with a monthly subscription fee.
They also have a highly trained workforce of analysts & relationship managers who help with stock tips and placing trades. One limitation is its account opening and maintenance charges. If you have an existing HDFC bank account, it is ideal for you to go for HDFC securities.
Account opening charges
- Trading & Demat Account opening: Rs. 999
- Annual Maintenance Charges: Rs. 750
Brokerage Structure:
| Segment | Brokerage Charges |
| Equity Intraday | 0.1% or Rs. 25 whichever is higher |
| Equity Delivery | 0.5% or Rs. 25 whichever is higher |
| Futures | 0.05% or Rs. 25 whichever is higher |
| Options | 1% per premium or Rs. 100 per trade whichever is higher. |
Closing Thought
It is ideal to first analyze your requirements in terms of financial instruments that you want to invest in, value and volume of trades that you can carry out, and your existing savings account.
A Demat account suitable for one might not be suitable for another. Once you have finalized requirements, you can analyse different demat accounts basis parameters like brokerage, trading platforms, fund transfer feasibility, technical analysis tools, and customer service levels to ensure safe & smooth trading & investing.
