Best Demat Accounts in India 2024

A Demat account is an account every investor needs to trade or invest in the stock market. It electronically holds your shares and securities, making trading and investment easy and efficient. There are numerous firms like banks, fintech companies, and other financial institutions that offer demat accounts to make your investment, hence it is crucial to understand every available option and choose the right demat account that suits your needs and objectives.

In this article, we will discuss the best demat accounts in India, their key features, charges, and more. So let's get started!

List of Best Demat Accounts in India

Here is a list of the top demat account brokers in India for beginners, selected based on their features, fees, and brokerage charges:

List of Best Demat Accounts with Lowest Brokerage

Here is the list of the best demat accounts that offer the lowest brokerage in India:

Detailed Overview of the Best Demat Accounts in India

Let’s discuss the detailed overview of the best Demat account apps and web platforms, including their features, charges, and brokerage:

1. Zerodha

Zerodha was founded in 2010 and has grown to become one of India’s largest discount brokers. They revolutionized the stock brokerage industry by offering a trading platform at a lower cost and zero brokerage on trades. The user-friendly interface and advanced charting features of Zerodha's Kite platform make it easy for beginners and experienced traders.

Features:

1. This platform provides advanced charting features for easy trading.

2. The platform is applicable on web and mobile applications, providing easy access to their investors.

3. They are integrated with various other platforms, such as Small Case for thematic investments, Coin for Mutual Funds, and Varsity for educational resources.

Charges:

• Account Opening Fee: Rs. 0

• AMC: Rs. 0 for holding value up to Rs. 4,00,000, Rs. 100 +18% GST/year for holding value up to Rs. 4,00,000 to Rs. 10,00,000, Rs. 300+18% GST/year for holding value above Rs.10,00,000

Brokerage:

• Rs. 20 or 0.03% per order for intraday (whichever is lower)

• Rs. 20 or 0.03% for Futures (whichever is lower) and Rs. 20 per order for Options 

• It’s free for equity delivery.

2. Rupeezy

Rupeezy is a brokerage firm that has been in business since the year 2005. It was formerly known as Astha Credit & Securities Pvt Ltd. They have a platform that provides unlimited watchlists with more than 100 indicators helping traders in technical analysis. This app is specially designed for option traders and has various features for option trading including various option-building setups. The partnership program of this firm offers superior benefits for its partners by providing a commission on every trade. 

Features:

1. The trading platform is designed to be user-engaging and easy to use even for a newbie investor in the stock market.

2. Rupeezy helps in simplifying complex financial metrics offering advanced research tools and more than 100 indicators for helping the traders make informed decisions.

3. They have a highly responsive customer support team through calls, chat, and email ensuring to resolve all the queries that the users require.

4. They provide a 5x margin facility for F&Os and stocks allowing the traders to leverage their capital and giving them the potential to earn higher profit.    

Charges: 

• Account Opening Fee: Rs. 0

• AMC: Rs. 300/year or Rs. 25MMC + Taxes

Brokerage: 

• Rs. 20 or 0.03% per order for intraday trading (whichever is lower)

• 0.35% for buy on Intraweek 

• 0.2% on MTF for equity delivery.

• Rs. 20 per order in Futures and Options Contract.

• If you want to avail margins in intraday options a brokerage of Rs 20 per lot of every order will be charged.

• It's free for equity delivery. 

3. Upstox

Founded in the year 2009, Upstox is another leading discount broker in India and is funded by renowned investors like Ratan Tata. They offer a simple and user-friendly trading platform making it better suited for new and frequent traders alike. The company has positioned itself as a tech-driven low-cost trading platform among its competitors.

Features:

1. The company provides two platforms namely, Upstox Pro Web and Upstox Pro Mobile, which offer advanced features like one-click order placement, indicators, and other market data.

2. They offer basic research tools required to provide the essential data for the traders to make informed decisions. 

3. Upstox provides customer support through phone, email, and chat support as well.

4. One main feature is that this platform provides trading across various segments like equities, commodities, mutual funds, and currencies under one platform.

Charges:

• Account Opening Fee: Rs. 0

• AMC: Maintenance charges of Rs. 150+GST is applicable only for those accounts opened before Aug 2021. Accounts opened post this period have Rs. 0 AMC.

Brokerage: 

• Rs. 20 or 0.05% per order in intraday. (whichever is lower)

• Rs. 20 or 0.05% per order on Futures (whichever is lower) and Rs. 20 per order for Options.

• Rs. 20 or 2.5% on Equity Delivery. (whichever is lower)

4. Angel One (Angel Broking)

Angel One was previously known as Angel Broking and is one of the oldest brokerage firms in India. They offer products with competitive pricing and other features making it a popular trading platform in the market. The firm has a user-friendly app and a web platform to easily provide features like portfolio tracking, instant fund transfers, and also market alerts.

Features:

1. They provide personalized recommendations and investment advice to investors who seek guidance. They also offer daily market reports, stock tips, and fundamental analysis.

2. They offer their client support through their extensive network of branches across India, and also through phone calls.

3. A broad range of investment products like equities, mutual funds, commodities, and insurance products. 

4. They provide a margin trading facility and loans against shares.

Charges:

• Account Opening Fee: Rs. 0

• AMC: From 2nd Year onward Non-BSDA Clients Rs. 20 + Tax / Month For BSDA (Basic Services Demat Account) Clients: If the Holding Value is Less Than Rs. 50,000 the brokerage is  Rs. 0 for Holding Value Between Rs. 50,000 To Rs.2,00,000 the brokerage is Rs.100 + Tax / Year

Brokerage: 

• Rs. 0 brokerage up to Rs. 500 for the first 30 days. After 30 days, a lower of Rs. 20 or 0.03% per executed order will be charged for intraday trading.

• Rs. 0 for Stock investment delivery.

• Rs. 0 brokerage up to Rs.500 for the first 30 days, After 30 days, it is Rs. 20 per executed order for Futures and options

5. 5 Paisa

     This brokerage firm was formed as a subsidiary of IIFL (India Infoline) catering to budget-conscious investors. It is a discount brokerage that focuses on providing low-cost trading options on its digital platforms. Their power investor pack offers stock and investment advice for trading and advanced portfolio analysis.

Features:

1. It has a web-based and mobile application platform that is simple to use, making it easy for both beginners and experienced traders.

2. It offers automated investment advice through its robo-advisory platform. The program generates tailored investment plans according to the investor's needs and objectives.

3. The company primarily supports its clients online through chats and emails. They have also set up a community of users to discuss market trends, trading strategies, and more.

Charges:

• Account Opening Fee: Rs. 0

• AMC: Rs. 25 per month + 18% GST

Brokerage: 

For all the segments they charge a flat fee of Rs. 20 per executed order along with the following statutory charges. 

• 0.00332% or Rs. 322 per crore per executed order for intraday trading.

• 0.00332% or Rs. 322 per crore for Stock investment Delivery.

• 0.0019% or Rs. 190 per crore per order for Futures and 0.05% or Rs. 5000 per crore for options.

6. ICICI Direct

It is one of India’s most established full-service brokers, offering a wide variety of financial products and services. As it is integrated with the ICICI Bank, it offers its customers a 3-in-1 service, including banking, trading, and investing. They also provide a free education platform to help budding investors learn more about the stock market and personal finance.

Features:

They offer comprehensive research tools that help analyze the daily market updates, detailed stock analysis, and also recommendations from experienced analysts.

1. Their platform is fully integrated with the bank so the fund transfers can take place seamlessly across the accounts. 

2. ICICI Direct provides multiple platforms including trade racer, live streaming quotes, charting tools, and real-time market data.

3. They offer a wide range of products other than equities like, mutual funds, IPOs, insurance products, and many more.

Charges:

• Account Opening Fee: Rs. 0 for a regular demat account.

• AMC: Rs. 700/year (waived for ICICI direct customers for the first year).

Brokerage: 

• For Intraday Trading: Amounts up to Rs. 50,000 is Rs. 25 or 2.5% (whichever is lower) and for amounts exceeding Rs. 50,000 is 0.05%

• 0.05% per order on Futures and Rs. 95 per contract lot for Options.

• 0.55% on Equity Delivery. 

7. HDFC Securities

HDFC Securities is one of the leading full-service brokerage firms in India. It is backed by HDFC Bank which is the largest private sector bank in India. It offers a comprehensive range of investment options so that it can help investors make better-informed decisions. The firm is also equipped with strong investment research and advisory services.

Features:

1. The firm provides robust research and advisory services which include daily reports, sector-wise analysis, and stock recommendations from expert analysts.

2. They provide strong customer support through various channels like calls, emails, and also in person from their branches.

3. They provide a wide range of financial and investment products like equities, fixed-income securities, mutual funds, and insurance. 

Charges:

• Account Opening Fee: Rs. 0.

• AMC: Rs. 300 to Rs. 800 per year, depending on the plan.

Brokerage: 

• Rs. 25 for equity delivery.

• 0.05% or Rs. 25 per order for buy/sell in the futures market

• Higher of 1% of the premium or Rs. 100 per lot on both buy/sell for options trading.

8. Kotak Securities

It is a full-service brokerage firm that provides a wide variety of financial services. It is backed by Kotak Mahindra Bank, one of the country's leading private banks. Like ICICI Direct, Kotak Securities also offers the benefits of integrating banking and investment services under the same roof.

Features:

1. They have an advanced desktop-based trading platform for active traders, focusing on real-time data, and advanced charting tools.

2. Kotak Securities provides high-quality research tools like daily market reports, sector-wise analysis, stock market tips, and recommendations.

3. They offer comprehensive wealth management services, including portfolio management and financial planning.

4. Even they provide 3-in-1 account services such as banking, trading, and investing under one account to monitor all the financial activities seamlessly.

Charges:

• Account Opening Fee: Rs. 0

• AMC: If the holding value is less than or equal to Rs. 4,00,000 there will be No AMC charged. If the value is greater than Rs. 4,00,000 & less than equal to Rs. 10 lacs they charge Rs. 100 AMC. If it is greater than Rs. 10 lacs, the account gets converted into non-BSDA

Brokerage: 

• Rs. 0 per executed order for intraday trading.

• 0.25% for Stock investment Delivery.

• Rs. 20 per order per executed order for Futures and options.

Main Features Comparison Table of Top Demat Account Brokers

Here’s a comparison of key features of the best Demat account apps in India:

Charges Comparison Table of Top Demat Account Brokers

Let's compare the charges of the best demat accounts in India, including AMC, account opening fees, intraday brokerage, and more:

How to Choose the Right Demat Account

There are certain key factors to consider before choosing a top Demat account; otherwise, you might end up paying high charges and receiving low benefits on your trades.

1. Brokerage Fees: This fee is an important factor to check when selecting a broker because it will vary from broker to broker. Rupeezy offers its demat accounts at the best prices in the market, along with high margins and leverage benefits for its customers.

2. Trading Platform: An interactive and user-friendly trading platform is a must for easy and enhanced trading experience.  Rupeezy’s flow provides an innovative platform that allows investors and traders to easily trade and invest in the market. 

3. Research and Reports: The availability of research, understanding, and analysis are necessary things to have for trading and investing. Rupeezy’s platform provides access to these fundamental and technical metrics so that the trader and investors can make informed decisions.

Step-by-Step Guide to Opening a Demat Account

1. Download the Rupeezy Flow App: You need to install Rupeezy’s Flow app from the Google Play Store/ App Store to start investing in the stock market.

2. Visit Rupeezy’s Website: After you open the Rupeezy App, click on Register to start opening your account. This will lead you to Rupeezy’s official website to open a Demat account.

3. Fill in Personal Details: Enter your personal information, including name, address, PAN number, and contact details.

4. Upload Documents: Upload necessary documents like Aadhar card, PAN card, and bank statements for KYC verification.

5. eSign the Form: Complete the process by electronically signing the application form.

6. Verification: Rupeezy’s onboarding team will verify your details, and upon successful verification, your Demat account will be activated. You shall receive a mail which will include your login credentials like Client Code and other details.

7. Set the Password: Once you receive the client code you can open the app and set your password to secure your data and other activities.

8. Start Trading: Once your account is active, you can start trading or investing through the broker’s platform.

Conclusion

Choosing the right demat account becomes an essential process throughout the process of investing. By understanding the features, charges, and benefits of each option, you can make an informed decision that aligns with your investment goals. 

Rupeezy is the ideal choice for modern investors, offering a user-friendly platform that makes trading simple while boosting your financial knowledge with educational resources. With zero account opening fees, low brokerage rates, and unique features like mutual fund tracking, Rupeezy is perfect for young investors and beginners. Start your investment journey by opening a demat account with Rupeezy today.

FAQs:

Q1. Which is the best demat account with the lowest brokerage?

Zerodha, Rupeezy, and Upstox are among the best in the market, offering low brokerage rates for opening a Demat account.

Q2. Which demat account is best in India for beginners? 

Rupeezy offers the best Demat account for beginners. Its user-friendly and innovative trading platform helps novice traders trade seamlessly in the market. 

Q3. Can I have more than one demat account? 

Yes, it is possible to have different Demat and Trading Accounts as long as they are opened with different Depository Participants (DPs) and stockbrokers. 

Q4. Which bank offers the best Demat account in India?

ICICI Bank provides a popular Demat account through their ICICI Direct platform, which has been actively used by over 7.5 million (75 lakh) customers over the years.

Q5. Which demat account offers the best customer support? 

Rupeezy provides the best call and chat support service to its customers.