In order to hold and trade securities electronically, investors and traders must have a demat account. Your investments are safe with a demat account, which also makes trading easier.
Choosing the best demat account in India can be challenging with so many options on the market. But don’t worry!
We will assist you in exploring the numerous factors before choosing the best demat account in India in this post. In addition, we’ve compiled a list of the best demat accounts in India based on their distinctive features, positive client reviews, and other factors.
We want to help you make an informed decision and select a demat account that best matches your financial goals and preferences.
What Is A Demat Account?
A demat account, also called a dematerialized account, provides the ability to hold shares and securities in an electronic format. Shares are bought and held in a depository account during online trading, making it simple for users to trade. A depository account holds all of an individual’s investments in bonds, mutual funds, exchange-traded funds, shares, and government securities in one place.
7 Best Demat Account In India
You should have a good Demat account for that, one that supports the needs of all customers and is reliable and secure.
In India, there are many Demat account providers, making it difficult to select one. The top demat accounts in India are listed here, along with information on their key features, pricing, pros, and cons.
1). ICICI Direct Debit Account
The best demat account is for small traders or existing ICICI Bank customers.
The user interface of ICICI Direct can be easily customised according to the needs of the user, making it one of the most useful demat accounts in India. They provide you with the option of a 3-in-1 Demat account experience, where your ICICI Bank account and ICICI Direct Demat account are integrated.
Based on their specific needs, they allow their customers to choose from a variety of plans. For ICICI Bank’s existing customers, it’s a great option.
Customers can easily access other ICICI products like loans, fixed deposits, and more with an ICICI Direct Demat account.
- It lets you invest in a variety of commodities, IPOs, equities, mutual funds, and more.
- Get market analysis and research reports.
- material for learning.
- Get a 3-in-1 account for trading, banking, and a demat account.
- Better market research using charts and analytics
- Users are able to track up to 50 stocks with a detailed watchlist.
- supports the opening of a paperless account
- For small investors, high brokerage fees
There is no brokerage charge when buying securities at ICICIdirect. However, a brokerage fee of 0.04% of the securities’ value is charged for every sell transaction.
It is the largest and most reputable bargain broker, with over 30 lakh users. The main reason in its success is that it provides superior customer service than other discount brokers.
Its lower brokerage cost is 0.03 per executed order, or Rs. 20 per completed order, whichever is less. You can save up to 90% if you trade quickly compared to other full-service stock brokers. There are no restrictions on the stock delivery trade in this location.
With Zerodha, you will obtain trading platforms with complex charts and other tools for technical analysis.
- data from market research and advanced charts to help you in trading.
- The Zerodha Varsity mobile app helps with trading learning.
- allows you to create your own trading platform.
- Using the Coin by Zerodha app, you can directly trade mutual funds.
- There is no per-transaction minimum brokerage cap.
- Completely free delivery is provided. No brokerage fee is charged upon delivery.
- Allow a 4- to 15-fold margin.
- Fastest, most reliable, and user-friendly Demat and Trading Account
- Account opening charges of 200 rupees
For all intraday trades in equities, currencies, and commodities, a flat fee of Rs. 20 or 0.03% (whichever is lower) is charged per executed order.
3). Choice App
Choice is a fantastic cross-platform app that allows you to open a Demat account for free with no annual fees. With this platform, opening a Demat account takes less than five minutes. Brokerage charges could even be as low as 2 paisa. Choice charges brokerage for intraday, delivery, and futures on a percentage basis.
On the other hand, a flat fee is taken into consideration when calculating brokerage for options.
- Paperless Digital Demat Account
- Free AMC for the First Year
- Free Research Advice
- Quick 4-Step Demat Account Creation
- offers a wide range of investment products.
- offers its customers simple trading platforms.
- prompt and proactive customer service.
- Online Demat account opening is instant and paperless.
- Zero account opening fee
- does not offer services for a 3-in-1 account.
- No flexible brokerage plans
- No margin calculator is available.
- No internal trading terminal is available.
The brokerage charge for trading in equities is 0.2% for delivery and intraday trading, 0.02% for trades in futures, and Rs. 25 per lot.
Sharekhan is a full-service broker that includes investor education, trading, portfolio management, research, and mutual funds. Presently, the company serves over 2.5 million customers from 3500+ share shops spread across 600+ cities.
- Videos and audios to help you understand market trends
- expert market by forecasts
- learning tools
- services for portfolio management.
- provides you with the ability to trade in futures, options, FX, mutual funds, ETFs, and stocks, among many other commodities.
- Online bank account transfers and fund payouts to bank accounts are free on Sharekhan.
- For DP transactions, Sharekhan does not charge. Transferring shares to and from the DP account is free.
- Sharekhan has a network of branches all over India. There is surely a Sharekhan in your neighbourhood.
- The Call & Trade facility on Sharekhan is free.
- Fixed deposits are allowed by Sharekhan as collateral for futures and option trading.
- As Sharekhan does not provide banking services, they do not offer a 3-in-1 account.
- In comparison to flat-fee brokers, the brokerage charges are based on a percentage, which is more costly.
- The minimum brokerage charge is 10 paisa per stock, and they won’t let you trade stocks for less than Rs 20.
- Classic account holders are unable to trade commodities.
The brokerage charge for Sharekhan is 3 paisa per 100 paisa of an intraday transaction. The amount for delivery is 30 paisa per 100 paisa.
5). Motilal Oswal Demat Account
Best for getting research-based investment advice
To provide customers with the best advice, Motilal Oswal does in-depth research. They also provide portfolio management services to help you manage your entire portfolio and make the right decisions.
It is one of India’s oldest demat account financial service providers. Their experience in financial services like Demat accounts is unmatched and hard to match. Motilal Oswal has more than 1700 branch locations to provide support and assistance.
It is now one of the best demat accounts in India due to these features. Motilal Oswal allows its users to choose the plans that satisfy these needs, like other trading platforms.
- extensive analysis and investment advice on more than 250 companies in more than 20 sectors.
- a variety of top-notch financial services
- Leverage facilities in the cash, F&O, and CDS segments.
- one of the best portfolio management services
- simple procedure for opening an account
- It has over 1700 easily accessible branches across India.
- You can choose from a variety of trading account plans based on your needs.
- Very user-friendly with top-notch online and offline support.
- allows fund transfers from 50+ banks
- Extremely high brokerage charges as compared to discount brokers like Zerodha and 5Paisa
- Although the brokerage in the value pack scheme is competitive, there are up-front costs involved in choosing the plan.
- doesn’t offer a 3-in-1 account.
The brokerage charges are 0.05%, or Rs. 0.05, if the security you buy is worth Rs. 100. The full brokerage charge for all trading is Rs. 0.05 + 0.05 = Rs.
6). HDFC Securities Demat Account
One of India’s largest full-service stockbrokers, HDFC Securities, was founded in 2000. An HDFC Bank subsidiary is HDFC Securities. Customers can buy, sell, trade, and invest in a variety of financial products, like stocks, bonds, futures, options, buybacks, mutual funds, IPOs, currency derivatives, commodities, stock portfolios, and more.
HDFC Securities, a broker registered with SEBI, is a member of the BSE, NSE, MCX, CDSL, and NSDL.
To make the investment process as simple as possible for consumers, HDFC Securities offers trading services on a variety of platforms.
Over 1,800,000 clients in various industries are served by HDFC Securities, which has over 30 products to offer. The company has about 270 locations across India.
- While keeping track of your investments, HDFC Bank Demat Service offers you a safe, convenient, and online experience.
- No charges are assessed when opening a demat account with HDFC Bank Ltd.
- Demat account maintenance fees of Rs. 750 are waived for the first year.
- For transfers of securities held in a depository account, no stamp duty is required.
- Settlement of securities traded on exchanges and off-market transactions
- With HDFC Demat services, the shorter the settlement, the greater the liquidity.
- There is an integrated 3-in-1 account available. This makes the HDFC trading platform extremely convenient.
- Online investments in IPOs, mutual funds, GOI bonds, insurance, and postal savings plans are all accessible from one website.
- Trading is available on both the BSE and NSE.
- excellent trading platform for beginners.
- no commodity trading.
- High demat account maintenance costs as compared to the alternatives.
Brokerage: 0.10 percent, or a minimum of 25 percent, or a 2.5% ceiling on the transaction value (both buy and sell).
7). Kotak Securities Demat Account
India’s Kotak Securities Ltd., which was founded in 1994, is a full-service stockbroker that offers retail investors a 3-in-1 account (bank, trading, and demat account). Investors are able to invest in mutual funds, stocks, and derivatives (stocks, commodities, and currencies).
Research, margin trade financing, depository services, portfolio management services (PMS), and third-party goods such as insurance are also available. Moreover, the company offers direct access to US markets.
With 153 locations and 1332 franchisees, Kotak Securities serves customers in 361 cities.
- Trinity accounts allow for seamless transactions between trading and demat accounts.
- Simple online and offline access to your shares, bonds, mutual funds, and other holdings
- It’s simple to convert your physical assets into digital form and other formats.
- Automatic dividend credits are made to the linked bank account.
- Online portfolio management is simple.
- Almost all Indian towns and cities have branches that provide local customer support.
- A 3-in-1 account is offered through Kotak Securities.
- trusted service for more than 25 years.
- Online discount brokerage plans at low cost are available.
- For investors under the age of 30, there is no brokerage plan.
- Only investors under the age of 30 are eligible for the widely publicised Zero Brokerage Plan.
- high brokerage charges for equity delivery.
- Dealer-assisted brokerage plan with very high brokerage
Brokerage: Rs 49. STT: Rs 12.63. Re 0.15 for SEBI turnover fees Duty on stamps: Rs 2.
What Factors Should You Consider While Selecting A Trading App?
simplicity in opening
It’s very easy to use E-KYC, which involves validating the investor’s account using an Aadhar card. The only thing required is self-identification, which may be done over a video call as well. The only requirement is that a trade must be executed within 48 hours.
Demat accounts are not completely free; there is a cost associated with them. Most financial institutions or DPs charge the account, even though the investor hardly makes transactions. Some brokers may even charge a fee based on the number of trades you make, and some even charge for each transaction. Therefore, it’s important to compare costs before making a choice.
The software’s usability and importance of UX
The software you use to execute your trades will not be difficult to understand or take too long to load. Your DPs site or app should make it simple to complete a transaction, including real-time buying and selling without much hassle, considering the volatile and quickly growing market. Investors should get timely updates from them as well.
Providing the necessary information
DPs owe it to their investors to provide detailed analysis that illustrates the most current market trends. Direct call-to-action buttons, industry-specific concentration, real-time data, and analytics are all necessary aspects of trading for an investor. Investors can make use of the data by getting regular updates and displaying it on the trading site. Before choosing a Demat account, these value additions must be carefully considered as they provide significant benefits.
Intraday trading and square-off timing:
The timing of the broker’s square-offs is yet another important factor for novice investors. When you begin trading intraday, you should be aware of this, as it usually occurs a few hours before market closure.
Choosing the best depository account is a difficult task.The data given above for each of the brokers, however, should help you make a wise choice for the Depository for yourself.
You can compare and check all parameters. After that, you can open a Demat account if you are very sure about it.
Make sure you look over each detail while choosing the option that best suits you.
Do I need a demat account to trade in the stock market?
Indeed, a demat account is a requirement if you wish to trade stocks.
What are the documents required to open a demat account?
The documents required to open a demat account include PAN card, Aadhaar card, address proof, and passport-size photographs.
Can I have multiple demat accounts?
Yes, you can have multiple demat accounts with different brokers.
What are the charges associated with a demat account?
The charges associated with a demat account include account opening fees, annual maintenance fees, transaction fees, and other charges.
How do I choose the best demat account in India?
You must take into account elements like brokerage costs, transaction fees, customer support, trading platforms, and convenience of use while selecting the best demat account in India. Before choosing a demat account, it is also a good idea to read user reviews and ratings.