7 Best Demat Account in India 2021

If you’re a newbie in the stock market or someone who is looking for the best Demat accounts in India, you’re at the right place.

When it comes to choosing the best Demat account, everyone has different needs.

As a beginner, you’ll want a Demat account with low or no brokerage fees; as an experienced trader, you’ll want a Demat account that doesn’t necessarily charge less brokerage but helps you get good returns with its extra-financial data tracking features.

From unique features, to the Demat account opening process. We will cover everything for you to find the best option.

Best Demat Account in India 2021

In this article, we’ve gone over all there is to know about it and have selected the best Demat accounts for trading and investing in stock market.

1. Zerodha: Best Demat Account for Intraday Trading

With a 5+ million strong clientele, Zerodha is the best Demat account provider in India. Over 15% of all retail order volume in the Nation is contributed by Zerodha clients. The platform is quite easy to use because of its well-tailored user interface. 

No matter if you’re a newcomer or professional, it provides you with the best ecosystem to make trades. Its availability over multiple platforms like smartphones, desktop browsers, Tablets, etc makes it very convenient for users to make trades from anywhere at any time. 

It has also won some prestigious awards like the NSE Best retail brokerage firm award a couple of times already. 

Here are the are features that make Zerodha the best in the Indian stock market,

Key Highlights: 

• Allows search of 90,000+ equities and futures and options contracts across various markets around the world.
• Let’s access Level 3 data which helps you get a deeper insight into market liquidity.
• Hundreds of technical tools and indicators to use to check the history and plan out your future trade.
• Lets you place single-leg triggers to set a target and stop loss and eventually enter and exit a trade when the price condition is met.

Zerodha Fees :

• Demat account opening fees – Rs 200.
• Commodity account opening fees – Rs 100.
• Annual maintenance fees – Rs 300.

Brokerage Fees : 

• Equity Delivery (NSE, BSE) – Zero brokerage fees.
• Equity Intraday & Future – 0.03% or Rs 20 per executed order, (lower between the two is charged)
• Equity Options –  flat Rs 20 for every order executed.

Account Opening Process With Zerodha: (Ease of Use)

Can be done via their mobile app or website. install their app or visit the website and click on the “Signup button” to begin the process. Follow the below Video Walkthrough of the complete process of online account opening. You’ll find the list of documents that are necessary for account opening Here.   

2. Upstox: Best lowest brokerage Demat account in India

Earlier known as ‘RKSV Securities’, Upstox is one of the leading online trading platforms in the country.  It allows Trading, analyzing, charting, and has many other capabilities on its hands.

Upstox was the first company to launch unlimited trading plans (at a fixed price) which was like setting a benchmark in the trading sector.

The trades can be made using a mobile phone with their application for both android and iOS or a web browser. The Upstox is based on the Omnesys NEST OM (Order Management) & RM (Risk Management) systems. 

You can practice Intraday, Currency derivatives, Commodities using their premium service ‘Upstox Pro’ )

Upstox is backed by The Honourable Mr. RATAN TATA in terms of funding. And whatever that man touch has to be gold, Upstox has the potential to rise up to the No. 1 spot in the future which currently Zerodha is holding. 

Key Highlight of Upstox: 

• Powerful Charts – The most advanced charting tool to help you detect stock market patterns and make well-informed decisions.
• A ton of Indicators –  You get access to 100+ trading indicators to personalize your charts and become a true pro trader.
• Personalization – With the widget’s features, you can make the platform work for you, this way it suits your trading style and helps you trade comfortably.
• API – developers may use APIs and third-party integrations to create their own apps within the Upstox framework
• Flexibility – Get access to a pre-defined Nifty 50 and other global indexes watch list. Trade directly from the charts.

Upstox Fees : 

• Upstox Account Opening fees: 249 Rs
• Upstox Demat Yearly Maintenance fees: 300 Rs

Brokerage Fees :

• Rs 0 Brokerage for Equity Delivery, Digital Gold, and mutual funds.
• Pay flat Rs 20 or 0.05%  for Intraday and Future & Option Trades (Lower between the two is charged)

Account Opening Process With Upstox : (Ease of Use)

Keep soft copies of the needed documents handy. They will be Aadhar, PAN Card, Cancelled cheque, and the updated bank statement.

Also, make sure your Aadhar is linked with the mobile number that you’re going to use while registering.  For more you can read our upstox review.

3. Angel Broking: Best Demat Account for Intraday Trading

In the business since 1987 Angel Brokerage Limited is one of India’s leading independent full-service retail broking companies, dedicated to delivering accurate and comprehensive data to all online share traders.

 Angel Broking is known for hosting the largest independent database on the internet dedicated to the Indian online brokerage sector.

Angel broking has revolutionized retail trading in India and provides a diverse variety of financial services. It holds the number 4 position in terms of active clients on NSE.

Being in the trading scene for over two decades, it is trusted by masses in the nation. Angel Broking has won prestigious awards like ‘Major Volume Driver’ by BSE, that too 5 years in a row.

Key Highlights of Angel Broking :

• Platform Presence – This allows you to trade using various platforms such as Smartphones, tablets, web browsers.
• Indicators – 40+ technical indicators and chart overlays to pinpoint your trade.
• online fund transfer in real-time through 40+ top banks.
• Their Mobile Trading App features an incredible User-Interface that many people see as reliable and user-friendly.

Fees: 

Trading & Demat Account Opening Fees (One Time) – Rs 0

Trading account yearly maintenance Fees AMC  – Rs 0

Demat Account Yearly Maintenance Fees – Rs 450

Brokerage Fees : 

Delivery & Intraday	N.S.E. Rs 325 for every Crore (0.00325%) | B.S.E. Rs 300 for every Crore (0.003%)
Futures trade fees	N.S.E. Rs 190 for every Crore (0.0019%) | B.S.E. Rs 300 for every Crore (0.003%)
Options trade fees	N.S.E. Rs 5000 for every Crore (0.05%) | B.S.E. Rs 300 for every Crore (0.003%)
Commodity	MCX Rs 150 for every Crore (0.0015%) | NCDEX Rs 300 for every Crore (0.003%)

Account Opening Procedure: Ease of Use

Visit the official website of Angel Broking. Click on the “Login” button on the top bar and start your account opening process. It is as easy as opening a popular social media account. Just with proper verification. You’ll need the below documents in scanned format (soft copies) to open an account such as Aadhar Card, PAN card, Passport Photograph, Cancelled Cheque, and up-to-date bank statement. 

4. Kotak Securities: Best Demat Account with Banking Broker

Since its foundation in 1994, Kotak securities is one of the most trusted Brokerage services. With 17 Lakh active users as of 2021, Trades worth Rs 8 lakhs are made every day on the platform. 

They are corporate members of the Bombay Stock Exchange(BSE) & the National Stock Exchange(NSE). They are also a depository participant with National Securities Depository Limited (NSDL) & Central Depository Services Limited (CDSL).

Being a subsidiary of a bank, they allow investors to create a bank account, a Demat account, and a trading account with Kotak Mahindra Bank Limited at the same time using a single application form. You can also open all these accounts separately if you wish.

Key Highlight of Kotak Securities: 

• 3 in 1 account 
• Research reports – The platform provides trading recommendations based on the research reports done by the research team.
• Calls – Get SIP, Fundamental, Derivative & Technical calls on a regular basis.
• SMS alerts – put something on a watch and as soon as the conditions are met, get an SMS alert from the same.
• KEAT Pro X – It is a web-based trading platform from Kotak securities that is free to download and install and has a user-friendly design. It works on a desktop and is compatible with the internet with a weaker speed.

Fees : 

Account opening fees: 499 Rs.

Brokerage Fees : 

Intraday Trades in all segments – Free (0 brokerage fees)

Future and Options trades – Flat Rs 20 for every order.

Equity & Commodity delivery – 0.25% of the transaction value.

Account Opening Process: Ease of Use

To open an account in Kotak Securities, you need to download their app or visit their official website. Find the “Login” button on the platforms and begin your KYC (Know Your Customer) process. For the KYC, you need the following documents in soft copy format.

• Aadhar and PAN card.
• Updated Bank Statement.
• Cancelled Cheque.
• PassPort photograph.

 5. HDFC securities

HDFC securities also known as HDFCsec is an online equity trading platform of HDFC bank. With over 2.6+ million customers strong, the platform is one of the leading brokerages in India.

The HDFC Securities trading account offers a unique 3-in-1 feature that combines your trading account with your current HDFC savings account and Demat account. To complete the transactions, funds are effortlessly transferred from the connected Demat/Bank account.

It is one of the best and most reputable stock brokerage firms, offering not just trading flexibility but also prompt responses to customer inquiries. The firm offers around 250 locations that may be accessed to swiftly answer any trading-related questions.

Let’s take a look at some of its key features

Features :

• 3in1 Integrated Account  – (Savings Account + Demat + Trading)
• safe, secure, and simple – Invest using your HDFC Bank savings account is 
• Less wait – Returns on investments can be deposited into your linked HDFC Bank account right away.
• Ease of use – There are no complications with moving funds to a broker pool account. Rather, save money in your savings account until your trade order is fulfilled.
• User Interface – Easy to use with a clean UI.
• Trading platforms – HDFC Securities provides a variety of trading platforms, ensuring a smooth and incredible trading experience. Investors can trade by phone, mobile, or at any HDFC branch.

Fees: 

Account opening fees: Rs 999 which includes (trading account, bank account, and DP account with HDFC)

Brokerage Fees :

Equity Delivery, Intraday & Futures : 25 Rs or 0.05%

Equity option: 100 Rs per trade or 1% of the premium (higher between  the two is charged)

Account Opening process: Ease of Use

Again, Install the app or visit the official website. Start your account opening process by entering your phone number which is registered with Aadhar. In the next steps, you need to fill in your personal details. You also need to upload soft copies of the Address and Identity Proof along with Bank Statement and canceled cheque. So keep them handy.  

6. 5paisa : Top Demat Account for Small Investors

Since its launch in 2015 5paisa has become a major online stock broker in India that provides ordinary investors with low-cost brokerage services. IIFL founders promote 5paisa Capital Ltd, a publicly listed and competently managed firm. It has approximately 1.2 million customers as of March 2021.

At the BSE, NSE, and MCX, 5paisa offers online trading in equities, commodities, and currency. It’s an economical stockbroker with a fixed rate. Regardless of the amount of the deal, sector, or exchange, it charges a flat 20 Rs brokerage.

Best for newbies out there.

Here are some key features of it. 

Key Highlight of 5paisa: 

• For novices, all of 5 Paisa’s platforms, particularly the 5 Paisa Mobile App, are incredibly quick and simple to use.
• A flat fee of Rs 10 is levied for each order.
• You will not have to make calls for buying and selling stocks in your portfolio, unlike other traditional brokers.
• Customers who are new to trading and require some help in their early days may benefit from the Robo Advisory System.
• SIPs, Derivatives, Currencies, mutual funds, and all of your investing requirements are met under one roof.

Fees :

Demat account opening fees – Rs 0 (FREE)

Demat account annual maintenance Fees – Rs 540

Brokerage Fees:

As 5 paisa offers 3 different plans, the brokerage fees are unique to each plan. Here is a chart to help you with the same.

	Basic Pac	Power Investor Pack	UltraTrader Pack
Fee for opening account	(NO FEE) Free	(NO FEE) Free	(NO FEE) Free
Brokerage	20 Rs For every trade	10 Rs For every trade	10 Rs  For every trade
Call and  Trade	100 Rs  for every call	100 Rs for every call	(NO FEE) Free
Demat AMC	25 Rs every month	25 Rs every month	25 Rs every month

Account Opening Process with 5paisa: (Ease of Use)

Visit their website and enter your phone number to start the account opening process. Authenticate your identity and address via Aadhar card and verify the same via an OTP sent on your phone number. In-person verification will also be done afterward. 

7. Sharekhan :

Incorporated in the year 2000, Sharekhan is a Mumbai-based brokerage firm. It has its presence in over 600+ cities and 3000+ offices in the country. Trusted by millions, it is backed by French banking group PNB Paribas.

The brokerage also has an international presence in Oman and UAE countries.

Along with BSE and NSE, they also provide commodity trading in MCX & NCDEX.

Being one of the oldest brokerage firms, here are some other reasons why you can go for Sharekhan.

Key Highlight of Sharekhan:

• Heat Map – This feature lets you understand the market sentiments by visually heat mapping the data.
• Market Scanner – This feature is a  real-time scanner, you can immediately check which of the best stocks are hitting their daily highs and lows, or which stocks have increased by more than a predetermined percentage and various other pointers.
• Calculators – Brokerage calculator, Premium Calculator, Span calculator, etc come with the tiger trade application.
• Orders – Different types of orders such as Aftermarket orders, bracket orders are permitted.

Fees : 

Demat account opening fees : Rs 0 (FREE)

Demat AMC – Rs 400.

Brokerage Fees : 

If you’re going with the most basic plan, below are the brokerage fees.

Intraday trades – 0.10 percent on the buyer’s side.

Delivery – 0.50 percent or 10 paise for every share or 16 Rs for every scrip (The one which is higher is chosen)

Future & Options, Commodity trade – 0.10%

Currency Future – 0.10% 

Currency Options – 2.50% or Rs 30 per lot on premium

Account Opening Process With Sharekhan : (Ease of Use)

Visit the official Sharekhan website and enter your details like name and phone number along with city and Pincode. Next, you’ll have to complete the KYC. which will be a step-by-step process. Make sure you’re keeping all the needed documents handy. If you have any queries in the process. Feel free to contact their help center

8. Groww : Best Demat Account for Beginners in India

The output of India’s silicon valley, Groww is yet another great Demat account provider. It was launched in 2016 and has grown exponentially since, with 10 million-plus Indians using the platform to trade Equities, Initial Public Offerings, Gold, Mutual Funds, and much more in the financial market.

As it is completely an online platform, it does not have physical offices. Users have access to tons of ebooks on its platform to take knowledge from. Groww has a mobile application as well as a web-based tool to trade from. 

The company is currently valued at $1 Billion and has overall managed to raise a capital of $142 Million from the investors to date.

Key Highlights of Groww:

• Zero commission – Groww charges 0 commission on Direct mutual funds. It also allows you to switch your external regular mutual fund to a Direct mutual fund.
• User friendly – The User Interface of the Groww application as well as its web tool is clean and simple to use. While being simple, it doesn’t lack back in the professional touch.
• Indicators – Various indicators to help to mark your next trade and keep up to date with it so that you don’t miss any opportunity.
• Technical support – The technical support staff is available at all times for users. You can shoot your query to them and expect it to be resolved as soon as possible.
• Paperless  – It is very easy to open a Demat account with Groww as the whole process is paperless and quick.
• Wealthy – Users have access to a whole database of Ebooks, Insights, blogs, resources, and videos relating to Financing.

Fees : 

Demat account opening fees : 0 (FREE)

Demat AMC – 0 (Absolutely FREE) 

No hidden fees to open a Demat account

Brokerage fees :

Equity Brokerage fees: 20 Rs or 0.05% for every order (lower between the two is charged).

F&O Brokerage fees: 20 Rs for every order.

Account Opening With  Groww: Ease of Use)

It can be done via their Mobile Application or From their official website. Just visit either one of them and click on “Login/Register” and start your account opening process.

The process is easy and is completed within minutes. All you need to do is keep these documents handy 

• Aadhaar & PAN card
• Updated Bank Statement 
• Canceled Cheque
• Other Identity and Address Proofs in case you need them. 

Frequently Asked Questions:

Q1. Are Demat accounts safe?

Ans: Yes, Demat accounts are completely safe. They act as a mediator between users and the central depository. So all the Demat account providers have to comply with CDSL (Central Depository Service Limited) guidelines and they are strict and legal in their manner.

Q2. Can I keep funds in a Demat account?

Ans: Yes, you can keep money in a Demat account but it is advisable to only do so when making a purchase, don’t let it sit there without any use.

Q3. Which Demat account is best?

Ans: Demat accounts have features unique to them, all the above-mentioned Demat account providers are top-notch and best in their own way. You can take a look at all the features each one has to provide and go with the one which suits your needs the best.

Q4. Can I open more than 1 Demat account?

Ans: Yes, but not with the same DP (depository participants). You can open Demat accounts in different Depository participants.

Q5. Can I buy shares without a Demat account?

Ans: No, you compulsorily need a Demat account to trade shares. It has been made compulsory from the year 1996 by the Securities and Exchange Board of India (SEBI)

Final Thoughts

Now as the trading happens online, Demat accounts are opened online too. We’ve found and reviewed the best Demat accounts in india that you can use.

Every DP  (depository participant) is unique and has its own pros and cons. You should read all the terms and conditions of a particular DP before opening your Demat account with them.