Best Demat Account Provider in India

Want to invest in stocks like Reliance, TCS, Infosys, or Itc? If the answer is yes, then you will need a Demat Account and Trading Account.

Demat Account is a digital wallet where you can store your financial asset like equity, commodities, bonds, government securities, mutual funds, exchange-traded funds, etc.

it would be best if you had a good stockbroker that provide you too cheap and the Best Demat Account

Choosing a good stock broker is one of the most important decisions you will make as an investor. This guide aims are introduce you to Indias best Demat Account Provider.

first, we learn which type of stockbroker we need; there are two main types of Stock Brokers:

Types of Stock Brokers in india:

  1. Discount Broker
  2.  Full-Service Broker
Types of stock brokers

Discount Broker:

  • Discount broker focuses only on executing buying and selling orders for their clients.
  • Low brokerage fee Compared to Full-Service Broker.
  • Not offer recommendations on the investment.

if you want to save money on brokerage fee, then you choose Discount Broker

zerodha, upstox, 5paisa, etc., are some examples of discount brokers.

 Full-Service Broker:

  •  Full-Service Broker provides a large variety of services to its clients, such as research and advice, retirement planning, tax tips, and much more.
  • normally this type of broker charge more compared to discount brokers
  • same brokers provide a 3-in-1 Demat account( means a bank account, trading account, and Demat)

if you want to buy or sell recommendations or research report, then you must choose Full-Service Broker

Sharekhan, HDFC Securities, ICICI Direct.. are some examples of Full-Service Broker.

Let’s talk about India’s top stock brokers. They provide the best Broking service.

Best Discount Brokers in India

#1. Zerodha

Best Discount Brokers in India

Zerodha founded in 2010 by Nitin Kamath, is the largest and trusted discount broker in India that offers free equity and mutual fund investments and flat brokerage on Intraday & all other traders.

It has over 30 Lakh clients and contributes more than 15% of daily retail trading volumes across the Indian share market.

According to the Aug 2020 report by NSE, Zerodha is the largest stockbroking firm in India (client-wise).

 Its mobile app ‘KITE’ offers you advanced trading platforms with charts and other tools for better technical analysis with Zerodha. 

zerodha continuously introduces new technology to its clients; recently, zerodha announce an equity sip option

Zerodha pricing in 2021 :

  • Demat & trading account opening charges – Rs 200
  • Commodity account opening charges – Rs 100
  • Annual maintenance charges – Rs 300 per year
Zerodha Brokerage Charges in 2021:
  • All equity delivery investments (NSE, BSE), are absolutely free (₹ 0 brokerage.)
  • Flat Rs. 20 or 0.03% (whichever is lower) per executed order on intraday trades across equity, currency, and commodity trades.
  • All direct mutual fund investments are absolutely free (₹0 commissions & DP charges.)

Zerodha Pros & Cons

Pros
  • Innovative & User-Friendly trading platform
  • Free Equity Delivery
  • Flat max brokerage per trade is Rs 20
  • Big brand value and customer support
  • Direct Mutual Fund Investment from same Demat account
Cons
  • No research report, market tips, and recommendations
  • Only the Indian market covered
  • No demo account
  • No negative balance protection

#2.Upstox

Upstox Best Discount Brokers in India

Upstox is one of India’s fastest-growing brokers. A fast, reliable, and easy-to-use trading platform with free paperless account opening.

Upstox India’s second-largest stockbroker after Zerodha, all over in India, more than 2 million traders already use Upstox Demat account.

Recently Upstox introduces a global market investment option to invest directly in apple, Facebook, amazon stock.

Upstox is backed by a trusted group of investors, including Ratan Tata Kalaari Capital, Tiger Global, GVK Davix, and many more.

if someone opens a demat account with Upstox, then the following services get free:

  • Free Equity Delivery 
  • Unlimited Brokerage Credit 
  • Beginner’s course on stock markets at Elearnmarkets worth ₹999
  • StockEdge Premium quarterly membership worth ₹999

Undoubtedly, choosing the Upstox Demat account for an advantage for the traders and investors who want to step into the Indian stock market World.

Upstox pricing in 2021:

  • Demat & trading account opening charges – free 
  • Annual maintenance charges – Rs 25 per month

Upstox Brokerage Charges in 2021:

  • All equity delivery investments are free. 
  • Flat Rs. 20 or 0.05% (whichever is lower) per executed order on intraday trades across equity, currency, and commodity trades.
  • All direct mutual fund investments are free. 

Upstox Pros & Cons

Pros
  • Brokerage Free Equity Delivery segment
  • Ultra-low broker (Rs 20 per trade) for Intraday and F&O
  • Commission-free Direct Mutual Funds
  • Excellent online trading platform (Website and Mobile App)
  • Bracket and Cover Orders available
  • Margin against share is available
Cons
  • No neighbourhood offices in your town. It’s an online broker.
  • No personal relationship manager
  • No research and advisory services
  • Doesn’t offer NRI trading account
  • Margin funding not available
  • It doesn’t offer monthly unlimited trading plans.

#3. 5paisa: 

5paisa.com Best Discount Brokers in India

5paisa is a leading stockbroker service provider in India. 5paisa Capital Ltd is a publicly-traded and company and its promoted by IIFL founders.

5paisa provides trading in equity, currency, commodity, also offers its services in mutual funds, Insurances, Personal loans.

5paisa Registration and account opening process is fast and easy, paperless account opening process if your number is linked with your aadhar card

Being a discount broker, they still have their advisory and research team, which is very helpful to beginners.

5paisa pricing in 2021:

  • Account opening charges: FREE
  •  Annual Maintenance charges: Rs 45 per month (only for months when you trade)
5paisa Brokerage Charges 2021:

Stocks, Commodities, Currency : ₹20/order

  • Any value
  • Any number of trades
  • Any type
  • Any segment
  •  

5paisa Pros & Cons

Pros
  • Investment in stocks, mutual funds & insurance from the same account
  • You can trade in stocks, futures, options etc. at a low cost.
  • Allow trading on the margin of Demat stock even if your account is in debt.
  • Free Education and training to their clients in 5paisa school.
  • Lower maintenance charges
Cons
  • Higher exchange transaction charges
  • No commodity trading facility
  • Doesn’t provide fixed monthly or yearly plans.
  • Customer support is not Better.

 #4. Samco

Best Discount Brokers in India

Samco is another one best Demat and service providers in the market. It was founded in 2015. Samco has 1,00,000+ Satisfied Clients and present in 3000+ cities all over India.

Samco is known for low brokerage charges and high exposure, margin products, and free trading products.

Samco pricing:

  • Demat account opening charges – free
  • Demat account AMC – Rs. 400
Samco Brokerage Charges:
  • Equity Delivery – 0.02% or Rs.20/-
  • Equity Futures Trade – 0.02% or Rs.20/-
  • Currency Options Trade – Rs.20/- each lot

Samco Pros & Cons

Pros
  • AADHAAR based instant paperless account opening.
  • Low brokerage charges
  • High margin
  • No account opening charges
  • Equity Intra-day trading is available in over 500+ stocks with up to 15x leverage.
Cons
  • Low performing trading platform
  • Average customer service
  • Investment in IPO and mutual funds is not supported
  • SAMCO is an online broker. It doesn’t have branches for local support.
  • Call & trade is available at an extra fee of ₹20 per executed order.

after discussing Best Discount Brokers in India, let’s talk about the Best full-service Broking service provider in India

Best full service Brokers in India 2021

#5. ICICI Direct

Best Full-Service Demat Account Provider

ICICI Direct is one of the best and trusted stockbrokers in India. It was an online broking brand of ICICI Bank.

ICICI Direct offers you a unique 3-in-1 feature, i.e., you can get bank, trading, and Demat in one account. So you don’t need another bank account.

 ICICI Direct offers a complete suite of investment products such as Online Equity Trading, Derivatives Trading, Mutual Fund & IPO, Fixed Deposit, Bond, NCD, wealth products, Home Loans, Loan against Securities, etc.

The client can visit any ICICI Bank branches or ICICI Direct, or sub-broker offices to get in-person help on financial products sold through ICICI direct.

ICICI Direct pricing:

  • Account Opening Charges (One Time) – free
  • Demat Account Annual Maintenance Charges AMC (Yearly Fee) – ₹700
ICICI Direct brokerage Plan:
  • Equity Delivery – 0.55%
  • Equity Intraday – 0.275%
  • Eq Future & Future Plus – 0.050%
  • Options & Option Plus – ₹95 per lot
  • NCDs / Bonds – 0.75%

ICICI Direct Pros and Cons

Pros
  • Investment online in IPOs, Mutual Funds, GOI Bonds, and Postal Savings Schemes all from one account
  • General Insurance is can also be available from ICICI Lombard.
  • Low bandwidth website is available for slow internet connection or for trading from mobile devices.
Cons
  • very high brokerage fee. Not suitable for people who do intraday and short trading.
  • It doesn’t offer commodity trading so you cannot trade at MCX or NCDEX.
  • ICICI charges Rs 75 per month fee for using Trade Racer if the customer pays brokerage less than Rs 750/month.
  • It is very difficult to trade in penny stocks because ICICI charges flat Rs 0.05 per share brokerage on stocks quoting up to Rs 10.

#6. Angel Broking

Best Full-Service Demat Account Provider

Angel Broking is one of India’s largest retail stockbroking houses in terms of active clients; Angel Broking provides more than 1 million people’s financial services.

It provides equity, money investment, portfolio management, life insurance, ETF, IPO, mutual fund, commodity, and loan services. Angel Broking has also provided various developed trading platforms in terms of technology. Apart from Algo Trading is also included.

Angel broking account opening process is straightforward. You can open a Demat account online in only 60minutes. Also, they provide three-month free trading tips through SMS.

In Nov 2019, Angel Broking modified its brokerage plans to compete with the discount stock brokers like Zerodha. Angel Broking now offers a flat rate brokerage plan, ‘Angel iTrade PRIME.’ This plan offers to trade in all segments (Intraday, F&O, Currencies & Commodities) at fixed ₹20 per trade except Equity Delivery; for Equity Delivery, there are no charges free to all clients.

Angel Broking pricing:

  • Demat & trading account opening charges – Free
  • Demat AMC Charges – 300 per Annum
Angel Broking Charges 2021:
  • Equity Delivery – Flat ₹0 per trade
  • Equity Intraday – Flat ₹20/trade
  • Equity F&O – Flat ₹20 per executed order
  • Currency F&O – Flat ₹20 per executed order
  • Commodity F&O – Flat ₹20 per executed order

Angel Broking Pros and Cons

Pros
  • One of the most trusted brands of India
  • Advanced trading platform
  • In-depth Reports of Indian & Global Markets
  • Profiling based mutual funds advisory
  • Margin trading facility.
  • New investment vehicle based on Artificial Intelligence (ARQ)
  • A large network of sub-brokers and franchises
  • A good team of research analysts providing research reports and tips
Cons
  • Does not offer 3-in-l Demat account
  • Call and Trade is charged at Rs 20

#7. HDFC Securities

Best Full-Service Demat Account Provider

India’s reputed groups HDFCs subsidiary firm HDFC Securities is one of India’s largest full-service brokers with a client base of more than 20 lakh customers, including both retail and institutional clients.

It offers a 3-in-1 account integrating HDFC Securities Demat account, HDFC Securities trading account, and HDFC bank account and provides a free mutual fund account.

HDFC Securities centralized dealing desk offers a one-stop solution for all your trading and investment requirements with free call & trade services.

HDFC Securities pricing:

  • Trading Account Opening Charges: Rs 999
  • Trading Account AMC: Free
  • Demat Account Opening Charges: Free
  • Demat Account AMC: Rs 750 PA (Waived for 1st year)

HDFC Securities Brokerage Fee:

  • Equity Delivery – 0.50%
  • Equity Intraday – 0.05%
  • Equity Futures – 0.05%
  • Equity Options – ₹100 per lot or 1% of the premium (whichever is higher)
  • Currency Futures – ₹23 per contract

HDFC Securities Pros & Cons

Pros
  • They conduct educative seminars for its customer frequently
  • Brand name with backing from reputed bank HDFC
  • 3-in-l Demat account useful for quick transfer of funds
  • Easy to use and extremely convenient trading platforms.
  • Comprehensive market data with complete information.
  • It facilitates users to examine the prevailing market trends and make sound investment decisions.
  • Latest market information, exchange announcements, and stock results.
  • Real-time 360o market coverage
  • Advanced features such as powerful charting, portfolio tracker, watchlist, stock alert, research, trading tips etc.
  • Clients can also anticipate the market direction with the enrich data available on ProTerminal.
Cons
  • Trading platforms such as BLINK and ProTerminal are paid platforms.
  • Trading Platform (HDFC Blink) is not free and monthly subscription charges are applied
  • No support for trading in Commodity segment
  • SMS based research tips are charged separately

#8. Sharekhan:

Best Full-Service Demat Account Provider

Sharekhan is India’s 3rd largest full-service broker after ICICI Direct and Angel broking. One of the most favorite choices for those who are prepared to invest in the Indian stock market.

The company, established in 2000, has significant market coverage in India. Not just this, but it has extended its operations outside India as well. The broker’s customer base is so wide that it carries investors, traders, corporate, NRIs, and institutional investors.

 It has a huge offline presence with franchises and sub-brokers network; this would help you find a sharekhan store near your house. It was one of the very few stockbrokers to have an online presence and still backs itself with high tech trading software and platforms.

It even provides services on BSE, NSE, MCX, and NCDEX and offers trade-in equity, mutual funds, IPOs, insurance, bonds, derivatives, etc.

Sharekhan pricing:

  • Trading Account Opening Charges: Free
  • Trading Account AMC: Free
  • Demat Account Opening Charges: Free
  • Demat Account AMC: Rs 400 PA (Waived for 1st year)
Sharekhan Brokerage Charges:
  • Intraday trading: 0.10% on buy-side and ₹ 0 on the sell-side
  • Delivery-based trading: 0.50% on buy-side and ₹ 0.50% on the sell-side
  • Equity futures: 0.10% on the first leg and ₹0 on the second leg
  • Currency futures: 0.10%

Sharekhan Pros & Cons

Pros
  • Sharekhan offers online and classroom training, seminars and workshops to investors.
  • It doesn’t charge for Online Funds Transfer from a bank account and Funds Pay-out to a bank account.
  • Sharekhan doesn’t charge for DP transactions. Share transfer from and to the DP account is free.
  • Sharekhan has an India-wide network of branches. You can find surely find a Sharekhan in your neighbourhood.
  • Call & Trade facility is free with Sharekhan.
  • Sharekhan allows fixed deposit as collateral for future and option trading.
Cons
  • Sharekhan doesn’t offer 3-in-1 account as they don’t provide banking services.
  • They brokerage charges are % based which are higher in comparison to flat fee brokers.
  • They charge a minimum brokerage of 10 paise per stock would not let you trade stocks below ₹20. (If you trade, you will lose the majority of your money in brokerage).
  • Classic account holders cannot trade commodities.

#9. IIFL SECURITIES

Best Full-Service Demat Account Provider

IIFL SECURITIES is one of the leading groups in the Indian financial services space by offering a wide range of financial services covering its client. IIFL Franchise business consists of 10,000+ sub-broker in 900 cities & towns across India

The company provides execution, advisory, and research service across products like equity, F&O, Commodity & Currency, Mutual Funds. IIFL is also one of the top distributors of AIF, PMS, and Mutual Funds.

 IIFL is also named as one of the best brokerage services because of its accessible and consumer-friendly products. You will be able to access the trade market through the mobile application, computer software, and web browser as the company offers all three of them.

IIFL Securities pricing:

  • Demat and Trading Account Opening Charges (One Time) – ₹250 
  • Demat Account Annual Maintenance Charges AMC (Yearly Fee) – ₹250 (Free for the first year)

IIFL Securities Brokerage Charges 2020:

  • Equity Delivery – 0.25%
  • Equity Intraday – 0.025%
  • Equity Futures – 0.025%
  • Equity Options – 25 per lot
  • Currency Futures – 0.025% or 020 per lot
  • Currency Options – 8 per lot
  • Commodity Futures – 0.025%
Pros
  • Availability of flexible brokerage plans to suit customer preference
  • One can invest in various segments
  • A wide network of branches across India.
  • Their “Trader Terminal” is considered as one of the best desktop trading platforms
  • Free Account Opening and Zero AMC for 1st Year
  • It offers fast speed trading and allows users to view on top 500 stocks.
Cons
  • The stockbroking house is only suitable for online trading services, as it does not offer offline services to its customers.
  • The broking house also does not enables customers to open up a 3 in 1 account for flexibility and ease. It only offers trading and Demat account opening services.
  • It does not offer brokerage and margin calculator also.

#10. Motilal Oswal

Best Full-Service Demat Account Provider

Motilal Oswal is one of the oldest stockbroking firms that is also a Full-Service broker. They have certain advantages like Smartwatch app, Call and trade facility is free.

Motilal Oswal has a fleet of financial advisors continually updated about market trends, dynamics, and influence. They provide you with tips and tricks, pre-trading advice. They also have beginners guide to the stock market, trading courses and provide plenty of security.

They also provide courses that help understand trading, stocks, equity better. The course design is simple and easy for anyone to understand and gain knowledge.

Motilal Oswal pricing 2021:-

Depository SourceNSDL & CDSL
Account Opening ChargesZero
Demat AMC ChargesRs.300 per Annum
Trading AMC ChargesFree
Motilal Oswal Brokerage Charges 2021:
SegmentBrokerage Fee
Equity Delivery0.50%
Equity Intraday0.05% (both side)
Equity Futures0.05% (both side)
Equity OptionsRs 100 per lot (both side)
Currency FuturesRs 20 per lot (both side)
Currency OptionsRs 20 per lot (both side)
Commodity Futures0.05% (both side)

Motilal Oswal Pros & Cons

Pros
  • 30+ years of research expertise
  • Wide choice of asset classes to invest in
  • Customized Investment plans with one click investment
  • Personal advisor / advisory for customers
  • Dedicated customer care service team
  • Dedicated team for Risk Management System
Cons
  • Very high brokerage charges
  • Doesn’t offer 3-in-1 account

Conclusion:-

Zerodha and upstox lead in the discount broking segment because of their strong free delivery trading product & powerful trading platforms. if you are looking for low pricing and powerful trading software, then go with them.

in full service segment Angel Broking and Sharekhan are Best Demat Account Provider.

ICICI Direct and HDFC Securities are the best 3-in-1 demat account provider. if you want a bank+demat+trading account, then their service is too good

Best Demat Account Provider FAQs

Which is the best Free Demat account in India?

Comparing every firm in parameters Zerodha and upstox is the best free demat account in all of India.

Which is the best Demat account for beginners?

Angel broking will always be the best Demat account for beginners. While choosing this, one thing needs to know: a beginner should make sure to go along with full-service brokers who are good at providing support and advice.

Which is the best Demat account for traders?

Zerodha is the best demat account for traders overall. Its brokerage fee lowest; this helps traders and investors alike put in less money but draw out immense profit all year round.

Which is the best banking broker Demat account?

ICICIDirect is the best bank Demat Account in India. Bank has 20+ years of experience in offering trading and demat account services. ICICI Bank’s online trading website and mobile app are among the industry’s best.

Which is the best Demat account for Mutual Fund investment?

groww has the best Mutual Fund investment system. in groww app Mutual fund investment is hassle-free.

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