Today investments and securities like stocks, bonds, government securities, ETFs are held in “Dematerialized” form in Demat accounts. Storing financial securities digitally in Demat accounts protects them while allowing for fast, easy, and effortless online transactions/trades. For that, you should have a good Demat account that must be reliable, secure, and supports all customers’ needs.
Many Demat accounts providers are available in India so selecting one is a difficult task. The following is a curated list of the Top Demat Account in India with their features, pros, cons, key specs, pricing, and website links.
Best Demat Account in India: Lowest Brokerage Charges
Name | Account Opening Charges | Annual Maintenance Charges | Portfolio Management Services | Link |
---|---|---|---|---|
👍 Zerodha | Rs. 200 | Rs.300/year | No | Learn More |
Upstox | Rs. 249 | Rs. 150/year | No | Learn More |
ICICI Direct | Rs. 0 (Free) | Rs. 300/year | Yes | Learn More |
Motilal Oswal | Rs. 0 (Free) | Rs. 550/year | Yes | Learn More |
Groww | Rs. 0 (Free) | Rs. 0 (Free) | No | Learn More |
Nuvama | Rs. 0 (Free) | Rs. 500/year | No | Learn More |
Paytm Money | Rs. 200 | Rs. 300/year | Yes | Learn More |
Angel One | Rs. 0 (Free) | Rs. 240 + taxes /year | Yes | Learn More |
FYERS | Rs. 0 (Free) | Rs. 0 (Free) | No | Learn More |
1) Zerodha
Best for Quick, easy, and cost-effective equity trading
Zerodha has focused on leveraging technology to create a better experience for its users. Its Demat account can be used with three mobile apps to satisfy different users’ needs. The attention to detail they put into their services makes them one of the best Demat accounts in India.
Zerodha has feature-loaded user interfaces that are easy to use, with simplicity and functionality in mind. They have grown significantly to become one of the best Demat accounts in India.
In 2010, Zerodha became India’s first-ever discount broker. With the Zerodha Demat account, you can trade in Stocks, Equity F&O, Currency F&O, Commodity F&O, Bonds, and Govt-Securities. Zerodha also lets you have a 3-in-1 Demat account collaborating with IDFC Bank.
#1 Top Pick
5.0
Account Opening Charges: Rs. 200
Annual Maintenance Charges: Rs.300/year
Portfolio Management Services: No
Features:
- It can be used as a 3-in-1 Demat account integrated with IDFC First bank account
- It offers multilingual support for many regional languages
- Zerodha has extensive trading charts with 100+ indicators
- The trading account boasts in-depth Profit/Loss, tax, and portfolio reports
- Allows trading of Bonds and Government Securities with the trading account
Pros
- Provides valuable market education and Q&A for newcomers
- Fastest, most reliable, and easy to use Demat and trading account
- Easy online money transfers, including support for no-cost UPI transactions
- No annual maintenance charges
Cons
- Prolonged account opening process
Key Specs:
Exchange Membership: BSE, NSC, MCX, and MCX-SX
Demat AMC: Plan starting at 300 per year
PMS services: No
Per Transaction Charge: NSE: 0.00325% | BSE: 0.003% per trade
Trading Platforms: Web and App (Android and iOS)
Customer Service: Call and Email
Equity Delivery | Rs. 0 (Free) |
---|---|
Equity Intraday | 0.03% or Rs. 20 per order (whichever is lower) |
Equity Futures | 0.03% or Rs. 20 per order (whichever is lower) |
Equity Options | Rs. 20 per executed order |
Currency Future | 0.03% or Rs. 20 per order (whichever is lower) |
Currency Options | 0.03% or Rs. 20 per order (whichever is lower) |
Commodity Futures | 0.03% or Rs. 20 per order (whichever is lower) |
Commodity Options | 0.03% or Rs. 20 per order (whichever is lower) |
2) Upstox
Best Demat Account for simple and free account opening
Upstox customers can enjoy the various tools to manage their Demat account better and act quickly. Among all Demat accounts, it boasts some of the lowest brokerage costs making it relatively inexpensive.
Upstox is among the best Demat accounts in India when it comes to customer support. Their support is knowledgeable, experienced, easy to approach, and can solve customers’ problems in almost no time.
You can enjoy a 3-in-1 Demat account integrated with the IndusInd Bank account. It offers robust notifications and alerts that help you to updated with the latest happenings in your trading account portfolio, business, and market, making it the best Demat account in India
Features:
- Simple and quick online money transfers, including support for no-cost UPI transactions
- Swift account opening process, with no opening charges
- Easy to use Web UI makes it accessible from anywhere in the world
- Effortlessly search top stocks with Universal Search
- Fastest order executions and deliveries
Pros
- Access to live data and news updates.
- Supports price change alerts about your favorite stocks
- Excellent integrations with 3rd party software like AmiBroker
- Customizable UI allows you to access the most relevant content easily
Cons
- No research, recommendations, and tips for users
Key Specs:
Exchange Membership: BSE, NSE, and MCX
Demat AMC: Plans starting at Rs. 150/year
PMS services: No
Per Transaction Charge: NSE: 0.00325% | BSE: 0.003% per trade
Trading Platforms: Web and App (Android + iOS)
Customer Service: Chatbot and Email
Equity Delivery | Rs. 0 (Free) |
---|---|
Equity Intraday | 0.05% or Rs. 20 per order (whichever is lower) |
Equity Futures | 0.05% or Rs. 20 per order (whichever is lower) |
Equity Options | Rs. 20 per executed order |
Currency Future | 0.05% or Rs. 20 per order (whichever is lower) |
Currency Options | Rs. 20 per order |
Commodity Futures | 0.05% per order (whichever is lower) |
Commodity Options | Rs. 20 per order |
Link: https://upstox.com/
3) ICICI Direct
Best Demat account for Low volume traders or existing ICICI Bank customers
ICICI Direct’s user interface can be easily customized according to user needs, making it one of the best Demat accounts in India for usability. They provide the option to have a 3-in-1 Demat account experience wherein the ICICI Direct Demat account is integrated with your ICICI Bank account.
They allow their customers to choose from various plans based on their specific needs. It’s an excellent choice for existing customers of ICICI Bank. With the ICICI Direct Demat account, customers can effortlessly access other products offered by ICICI like loans, fixed deposits, and more.
Features:
- Detailed research-backed suggestions and recommendations
- ICICI Bank customers can use it as a 3-in-1 account
- Lightweight website can be accessed even with sub-optimal internet connections
- Allows customizing UI according to your needs
- Multiple trading plans to meet your specific needs
Pros
- Charts and analytics to do better market research
- Detailed watchlist allows users to track up to 50 stocks
- Supports paperless account opening
Cons
- It has Annual Maintenance charges of Rs. 400 per year
Key Specs:
Exchange Membership: BSE, NSE, and MCX
Demat AMC: Plans starting at Rs. 300/year
PMS services: Yes
Per Transaction Charge: NSE 0.0031% | BSE 0.0028%
Trading Platforms: Web and App (Android and iOS)
Customer Service: Website
Equity Delivery | Rs. 0 (Free) |
---|---|
Equity Intraday | Flat Rs. 20 per executed order |
Equity Futures | Rs. 0 (Free) |
Equity Options | Flat Rs. 20 per executed order |
Currency Future | 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 |
Link: https://www.icicidirect.com/
4) Motilal Oswal
Best For getting research-backed investment advice
Motilal Oswal does in-depth research to provide customers with the right advice. They also provide portfolio management services to help you manage your entire portfolio and make the right decisions.
It is one of the oldest demat account providing financial services in India. Their experience in financial services like Demat accounts is unmatched and is hard to match. Motilal Oswal has 1700+ branch locations to provide support and assistance besides the online support services.
These features have made it one of the best Demat accounts in India. Like other trading platforms, Motilal Oswal also allows its users to choose the plans that best suit their needs.
Features:
- In-depth research and investment advice about 250+ companies in 20+ sectors
- Variety of high-quality financial services
- Leverage facilities across cash, F&O, and CDS segments
- One of the most exemplary Portfolio Management Services
Pros
- It has over 1700 easily accessible branches across India
- Multiple trading account plans let you choose according to your need
- Very easy to use with excellent online/offline support
- Allows fund transfers to/from 50+ banks
Cons
- Does not offer a 3-in-1 Demat Account
Key Specs:
Exchange Membership: BSE, NSE, and MCX
Demat AMC: Plans starting at Rs. 550/year
PMS services: Yes
Per Transaction Charge: Rs 40 or 0.04%
Trading Platforms: Web, App (Android + iOS), and Smart Watches
Customer Service: Call, Email, and offline in-office support
Equity Delivery | Rs. 0 (Free) |
---|---|
Equity Intraday | 0.05% per order |
Equity Futures | 0.05% per order |
Equity Options | Flat Rs. 20 per executed order |
Currency Future | Flat Rs. 20 per executed order |
Currency Options | Flat Rs. 20 per executed order |
Commodity Futures | 0.05% per order |
Link: https://www.motilaloswal.com/
5) Groww
Best Demat account for newcomers looking to open an account for free.
Groww is known for its completely free Demat account opening with zero account maintenance charges. Their account opening process is paperless and can be done from the comfort of your home. Their brokerage charges are also very competitive, making them the best Demat account in India for a low-cost budget.
They also support reliable intraday trading, direct mutual funds, and SIPs. It can be easily integrated with many apps/services to create an even better experience. Groww was founded in 2016 to provide financial services to millions of Indians. It’s the best Demat account for getting analytics and news relevant to the market, your portfolio, and more to help you make better financial decisions.
Features:
- Provides a built-in mutual funds calculator
- Analytics and statistics for stocks, mutual funds, and other investments
- Well-Built API to integrate with other apps and services
- Fast one-click order placements
- Online articles, resources, and news relevant to you
Pros
- Paperless account opening with no opening or maintenance fee
- Zero commission SIP purchases
- Allows investing in foreign marks like US Stock Market
- Easy to navigate, clean and simple UI
Cons
- Lacks support for IPO investments
Key Specs:
Exchange Membership: BSE, NSE, and MCX
Demat AMC: Rs. 0 (Free)
PMS services: No
Per Transaction Charge: NSE 0.00325% | BSE 0.003%
Trading Platforms: Web and App (Android + iOS)
Customer Service: Website
Equity Delivery | Rs. 0 (Free) |
---|---|
Equity Intraday | 0.05% or Rs. 20 per order (Whichever is lower) |
Equity Futures | 0.05% or Rs. 20 per order (Whichever is lower) |
Equity Options | Rs. 20 per executed order |
Link: https://groww.in/
6) Nuvama
Nuvama is a Mumbai-based company providing financial services, broking services, and investment advisories to more than 5 lakh clients. Their experienced employees, excellent tools, customizable reports, reliable services, and many more features make it the best trading app in India.
Features:
- It allows you to make a customized watchlist to track 100 stocks.
- Supports multiple technical charting, 80+ technical indicators, and drawing tools.
- Supports mutual fund investments directly as well as regular plans.
- Dedicated IPO section displays all upcoming IPOs.
- Access to 23+ reports, including transactions, P&L statements, etc.
- Research team provides research recommendations across equity, currency, derivatives, and many more.
Pros
- Free research, stock tips, and recommendations.
- Online IPO investment
- High leverage facilities across cash, F&O, and CDS segments.
- Relationship managers and add-on services like PMS are available.
Cons
- A bit pricy compared to other services.
- Add-on services may not be good enough.
Key Specs:
Exchange Membership: NSE, BSE, and MCX
Demat AMC: Plans starting at Rs. 300/year
PMS services: Yes
Per Transaction Charge: Rs 20 or 0.02%
Trading Platforms: Web and App (Android + iOS)
Customer Service: Website and Email
7) Paytm Money
Best Demat Account in India for having the lowest charges
Paytm Money has been the biggest name in low-cost investing and is one of the best Demat accounts in India. Paytm Money Demat account services are robust and very reliable. It provides simple, intuitive, and easy-to-use mobile apps for Android and iOS to help novices/inexperienced quickly become comfortable in trading.
Paytm trading account also provides periodic information about personal finance, capital market, and more to its users. You can create a Demat Account easily and start trading from just Rs. 100. Paytm Demat Account supports Stock Market, Mutual Funds, ETF, IPO, F&O, and NPS retirement funds.
Features:
- In-depth, high-quality insights about your portfolio
- Market analysis tools help find best rated mutual funds and stocks
- Historical data and risk evaluations for all mutual funds
- Auto-Pay to ensure on-time payments for investments
Pros
- Easy, low-cost investments with fewer commissions and a minimum investment of just Rs.100
- Data-rich investment insights for making better decisions
- Supports fund transfers to/from UPI to your trading account and vice-versa
- Powerful search with advanced filters
Cons
- No support for Commodity and Currency trading
Key Specs:
Exchange Membership: BSE, NSE, and MCX
Demat AMC: Plans starting at Rs. 300/year
PMS services: Yes
Per Transaction Charge: NSE 0.00325% | BSE 0.003%
Trading Platforms: App (Android + iOS)
Customer Service: Email and In-App Customer Support
Equity Delivery | Rs. 0 (Free) |
---|---|
Equity Intraday | 0.05% or Rs. 10 per order (Whichever is lower) |
Equity Futures | Flat Rs. 10 per executed order |
Equity Options | Flat Rs. 10 per executed order |
Link: https://www.paytmmoney.com/
8) Angel Broking
Best For newcomers/novices who lack knowledge/experience
Angel Broking provides proper research-driven suggestions, analytics, and valuable investment advice to its users. Their investment advisory and apps are available to all investors for free. Angel Broking Demat account is one of the best Demat accounts in India due to its vital services, UI, and the Angel One app. It has been a discount broker for more than 30 years.
They also have multiple plans for customers to decide based on their needs. Apart from being an excellent Demat account provider, their portfolio management services (PMS) and trading services are some of the best. Angel Broking Demat Account opening is completely free, online, and fast.
Features:
- Swiftest account opening (Start trading within 1 hour of KYC)
- Angel Speed Pro desktop app allows accessing market data in almost real-time
- Intraday analytics, news, as well as real-time updates on the top gainers and losers of the day
- Experienced financial advisors guide you through your Demat Accounts
Pros
- Allows paperless account opening from home
- No opening account charges and no maintenance fee for the first year
- Small cases allow building a low-cost yet profitable portfolio
- Easily access historical data of up to 20 years
Cons
- Trading through calling is charged at 20 Rupees per order.
Key Specs:
Exchange Membership: NSE, BSE, and MCX
Demat AMC: Plans starting at Rs. 240 + taxes /year
PMS services: Yes
Per Transaction Charge: NSE 0.00325% | BSE 0.003%
Trading Platforms: Web and App (Android + iOS)
Customer Service: Website and Email
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 Future | Flat Rs. 20 per executed order |
Currency Options | Flat Rs. 20 per executed order |
Commodity Futures | Flat Rs. 20 per executed order |
Link: https://www.angelone.in/
9) FYERS
Best for having advanced market research tools and investment advisories
It’s the Best Demat Account in India for having easy and quick access to trade and market trends from desktops, laptops, phones, and tabs.
FYERS is one of the best Demat accounts in India that started in 2015. It’s an acronym for “Focus Your Energy & Reform Self.” Their trading account allows you to trade in Equity, Currency, Mutual Funds, and IPOs.
They have lots of analytics, user data, and education material to provide users with proper financial education. FYERS also boasts heatmaps, stock screeners, market meters, and trend scanners. It makes it the best Demat account in India to understand market trends.
Features:
- Active community to share knowledge and get answers quickly
- Market Education with FYERS School Of Stocks
- Fast account opening process usually takes less than 5 minutes
- Supports financial services like Loans, Fixed Deposits, and Insurance
Pros
- Competitive pricing for all trades
- Knowledgeable and practical customer support
- Trading account provides easy access to historical data of up to 20 years
- Zero opening account charges
Cons
- Does not support 3-in-1 Demat Account
Key Specs:
Exchange Membership: BSE, NSE, and MCX
Demat AMC: Rs. 0 (Free)
PMS services: No
Per Transaction Charge: NSE 0.00325% | BSE 0.003%
Trading Platforms: Web and App (Android + iOS)
Customer Service: Phone and Email
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 Future | Flat Rs. 20 per executed order |
Currency Options | Flat Rs. 20 per executed order |
Commodity Futures | Flat Rs. 20 per executed order |
Link: https://fyers.in/
FAQs
A Demat account or a Dematerialized account stores securities such as stocks, bonds, mutual funds, etc. In online trading, investments are bought and stored in Demat accounts to support easy trading. Demat effectively reduces the risk of robbery, misplacing, and more.
A Demat account converts physical financial assets into digital assets, hence “Dematerializing” them. These financial assets can be traded via an online trading account. Today every Demat account in India will integrate with a trading account, allowing easy trading and storage.
Here are the Best Demat accounts in India:
- Zerodha
- Upstox
- ICICI Direct
- Motilal Oswal
- Groww
There are many parameters to consider when selecting a trading and Demat account in India.
Here are essential parameters that you should consider selecting the best Demat account in India for your use:
- Ease of Use: Your Demat and trading account should have straightforward tools/services and the guidance/support to use them
- App Interface: Demat account providers build their app interface should make your assets and trades can be managed in a hassle-free way
- Portfolio Management Services: Investments made in stocks, FDs, debt, and more on your behalf to achieve your predefined investment goals/objectives. Some Demat accounts come integrated with the portfolio management services as well.
- Fees: Your Demat account provider will charge you a brokerage fee for every trade. Besides, Demat account providers may have a one-time charge when you open a Demat account and annual maintenance charges.
- Investment Advisory: Skilled in researching user trends, past performance, and other data to make predictions about various investments. Such advisories can help you make better decisions when investing.
- 3-in-1 Demat Account: Accounts bundled with a trading account and a bank account.
Best Demat Account in India: Lowest Brokerage
Name | Account Opening Charges | Annual Maintenance Charges | Portfolio Management Services | Link |
---|---|---|---|---|
👍 Zerodha | Rs. 200 | Rs.300/year | No | Learn More |
Upstox | Rs. 249 | Rs. 150/year | No | Learn More |
ICICI Direct | Rs. 0 (Free) | Rs. 300/year | Yes | Learn More |
Motilal Oswal | Rs. 0 (Free) | Rs. 550/year | Yes | Learn More |
Groww | Rs. 0 (Free) | Rs. 0 (Free) | No | Learn More |
Nuvama | Rs. 0 (Free) | Rs. 500/year | No | Learn More |
Paytm Money | Rs. 200 | Rs. 300/year | Yes | Learn More |
Angel One | Rs. 0 (Free) | Rs. 240 + taxes /year | Yes | Learn More |
FYERS | Rs. 0 (Free) | Rs. 0 (Free) | No | Learn More |
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