Demat accounts help hold and manage securities in electronic form. You will find many of them when searching online. But which ones work best? We have curated a list of the top 20 best demat accounts in India to help you make the right decision.
Paytm Money Limited is the best low-cost online discount broker for investing in mutual funds, digital gold, stocks, IPOs, NPS, and derivatives. The platform allows easy access to start trading. All you need to do is download the app, enter your information, and start investing. This ease of access and versatility makes Paytm the best overall platform.
Zerodha offers one of the best digital demat services for mutual funds. You can invest in 0% commission direct mutual funds and other government, corporate, and gold bonds on the platform. It also allows you to save up to 1% on commissions.
Paytm is among the top demat account providers that offer the lowest brokerage fees in the market. It proves to be beneficial for beginners and short-term traders. Currently, the platform charges a very low fee of Rs 20 per brokerage order.
Paytm is a great option for foreign stocks because it offers direct exposure to foreign markets. You can invest in international mutual funds or ETFs that focus on specific regions or sectors. This makes Paytm an ideal place for foreign stocks.
Zerodha is among the largest discount brokers in India, offering free equity delivery. The platform for secure stock trading accounts is a good choice for beginner investors because of its easy-to-use interface.
Zerodha offers an excellent online trading platform with a low brokerage fee. It is regarded as the most transparent stock broker. It also offers technologically advanced solutions and software for demat trading services. These excellent features make it the most popular trading platform in India.
Table of Contents
Introduction To Demat Account
Comparison Table on Account Opening Charges and Fees
Comparison Table on Brokerage Charges and Hidden Charges
Comparison Table on Range of Investment Opportunities
Comparison of Customer Support and Safety and Security
Demat Accounts With Lowest Brokerage Charges
What Documents Are Required To Open A Demat Account?
Additional Features to Look for in Demat Accounts
What Are The Different Types Of Demat Accounts?
Best 20 Demat Accounts in India (20 Accounts + short description)
How Do We Shortlist?
How Does A Demat Account Work?
Documents required to open a demat account
How To Open A Demat Account?
Frequently Asked Questions
Conclusion
Introduction to Demat Account
A demat account is an electronic form of secure stock trading account that holds shares and securities in electronic format. The term 'demat' stands for a dematerialised account. It aims to hold all the shares that have been bought or converted from physical to electronic shares. This is what makes share trading easy for users during online trading.
The paperless demat account serves as a bridge between your investments and the associated stock market, making the trading and investment processes more secure and convenient.
Comparison Table on Account Opening Charges and Fees
Secure infrastructure, data encryption, industry-standard protocols
SMC Global
Phone & email support, branch network support
Data encryption, industry-standard protocols
Alice Blue
Phone & email support, live chat available
Data encryption, regular security audits
Demat Accounts With Lowest Brokerage Charges
Here is a list of the top demat account providers with the lowest brokerage charges in India. A few of them also fall under the category of zero maintenance charges demat accounts.
What Documents Are Required To Open A Demat Account?
You need the following documents to open a demat account:
PAN card
Proof of address (driver’s licence, passport. Aadhar card)
Photograph
Signature on a white piece of paper
Income proof for options segment and activation of futures
Additional Features to Look for in Demat Accounts
You must look for some additional features to choose among the 20 best demat accounts in India. Here is what would make them the perfect platforms that offer digital demat services.
User-friendly interface for trading and account management.
Robust mobile app for convenient monitoring and trading.
Market research tools and analytics to make better trading decisions.
Latest updates on stock prices, market trends, and portfolio performance.
What Are The Different Types Of Demat Accounts?
You will find three different types of demat accounts in India. These include:
Regular Demat Account: It allows different investors to trade equity shares and other securities electronically.
Repatriable Demat Account: It enables NRIs to invest in the Indian stock market and facilitates the transfer of funds outside the country.
Non-repatriable Demat Account: It is also for NRIs but does not allow the transfer of funds outside India.
Easy online access to shares, bonds, mutual funds, and F&O
2-in-1 account for efficient transactions
Dividend credit to the linked bank account
Low debit transaction charges for both mutual funds and stock funds
Performance Rating:
Parameters
Rating
Overall Rating
3.7
Fees
3.7
Brokerage
4.2
Usability
3.6
Customer Service
3.4
Research Capabilities
2.8
Positives & Negatives:
Positives
Negatives
Less brokerage fee
Slow account opening process
User-friendly trading platform
No investor protection
Research-based stock information
User Feedback
Convenient trading
Good customer support
3. Angel One
Android Rating: 4.2
IOS Rating: 4.2
App Downloads: 10M+
Speciality Company: Fintech
Features:
Easy-share transfers
Faster dematerialisation & rematerialisation of securities
Pledging facility to avail of a loan
Freezing Demat accounts
Multiple accessing options
SPEED E-Facility
Corporate benefits & actions
Performance Rating:
Parameters
Rating
Overall Rating
2.7
Fees
3.0
Brokerage
3/0
Usability
3.0
Customer Service
2.6
Research Capabilities
2.6
Positives & Negatives:
Positives
Negatives
Secure transfers
Only available for Indian citizens
Faster trading processes
No credit card deposit
E-facilities for all investors
Lower risks
User Feedback
User-friendly platform
Secure transactions
4. Upstox
Android Rating: 4.3
IOS Rating: 4
App Downloads: 1 Cr+
Speciality Company: Broking Firm
Features:
Freezing of demat account options
Easy share transfers
Rapid access to investments and statements
Rewards and dividends
Simple securities removal
Performance Rating:
Parameters
Rating
Overall Rating
2.4
Fees
3.4
Brokerage
3.4
Usability
2.6
Customer Service
2.3
Research Capabilities
2.2
Positives & Negatives:
Positives
Negatives
Easy accessibility
Yearly fees
Switch between 2 modes
Stockbroker control
Best-in-class investing and trading tools
User Feedback
Easy access to trading tools
Efficient customer support
5. ICICIDirect
Android Rating: 4.3
IOS Rating: 4.5
App Downloads: 500K+
Speciality Company: Virtual Finance Supermarket
Features:
Multiple brokerage plan
Loan facility
Advanced tools
Intraday trading brokerage charges
No hidden charges
One-click investment basket
Performance Rating:
Parameters
Rating
Overall Rating
2.4
Fees
2.2
Brokerage
1.7
Usability
3.3
Customer Service
2.7
Research Capabilities
2.9
Positives & Negatives:
Positives
Negatives
Lower risks
High brokerage charges
Easy holding
Requires tech skills
Reduced costs
Loan facilities
User Feedback
Simplified buying
Loan on securities
6. Kotak Securities
Android Rating: 4.1
IOS Rating: 4.5
App Downloads: 1M+
Speciality Company: Stock Broking
Features:
Easy-share transfer
Collateral for loans
Temporary freeze
Corporate action benefits
Speed e-facility
Convenient asset holding
Multiple access points
Performance Rating:
Parameters
Rating
Overall Rating
2.4
Fees
2.4
Brokerage
2.3
Usability
3.2
Customer Service
2.8
Research Capabilities
2.7
Positives & Negatives:
Positives
Negatives
Security of shares
Higher brokerage charges
No forgery or theft
Charges for dealer assistance
Easy and secure holdings
Online access and monitoring
User Feedback
Lower cost
Quick fund transfers
7. HDFC Securities
Android Rating: 4.4
IOS Rating: 3.5
App Downloads: 5M+
Speciality Company: SEBI registered broker
Features:
Dematerialisation of securities
Stock dividends and benefits
Easy share transfers
Liquidity of shares
Loan against securities
Performance Rating:
Parameters
Rating
Overall Rating
2.1
Fees
2.1
Brokerage
1.8
Usability
2.8
Customer Service
2.5
Research Capabilities
2.7
Positives & Negatives:
Positives
Negatives
No paper certificates
No commodity training
Ease of storage
Charges a higher annual fee
Variety of instruments
Easy access
User Feedback
Efficient freezing option
No charges on closing accounts
8. Motilal Oswal
Android Rating: 4
IOS Rating: 3.5
App Downloads: 10L+
Speciality Company: Financial Services
Features:
2-in-1 demat account
Zero AMC for a lifetime
100% paperless demat account
Electronic transfer of securities
Performance Rating:
Parameters
Rating
Overall Rating
2.2
Fees
2.7
Brokerage
2.1
Usability
2.9
Customer Service
2.5
Research Capabilities
2.2
Positives & Negatives:
Positives
Negatives
Reduced risk
It does not offer 3-in-1 accounts
Easier access to funds and stocks
Higher trading charges
Lower registration charges
User Feedback
Lower costs
Faster transactions
9. SBI Securities
Android Rating: 4
IOS Rating: 3.9
App Downloads: 1M+
Speciality Company: Subsidiary of State Bank of India
Features:
Account maintenance and safe custody
Dematerialisation and rematerialisation
Facilitating account transfers
Initial Public Offer
Disbursement of corporate benefits
Security lending facilities
Performance Rating:
Parameters
Rating
Overall Rating
2.5
Fees
3.1
Brokerage
2.7
Usability
2.8
Customer Service
2.4
Research Capabilities
2.2
Positives & Negatives:
Positives
Negatives
Protects all holdings
Higher brokerage charges
Faster transfer of shares
Charges on calls
Easy access from anywhere
Limitless shared storage
User Feedback
Easy loan facilities
Reduced transaction costs
10. Groww
Android Rating: 4.4
IOS Rating: 4.3
App Downloads: 50M+
Speciality Company: Investment platform
Features:
Easy access
Easy dematerialisation of securities
Stock dividends and benefits
Easy share transfers
Liquidity of shares
Loan against securities
Freezing demat account
Performance Rating:
Parameters
Rating
Overall Rating
4.0
Fees
4.3
Brokerage
3.9
Usability
3.9
Customer Service
3.7
Research Capabilities
3.2
Positives & Negatives:
Positives
Negatives
Access to investments through net banking
Limited investment products
Electronic Clearing Service (ECS) for updating investor accounts
No stock tips and recommendations
Simpler, faster, and convenient trading
User Feedback
Efficient platform for trading
Better investment options
Zero charges for opening an account
11. Sharekhan
Android Rating: 4.3
IOS Rating: 4.3
App Downloads: 5M+
Speciality Company: Brokerage firm
Features:
Online account management
Online transfer of securities
Ability to manage accounts by visiting branches
Easier transactions between trading and demat account
Auto deposit of dividends in a linked bank account
Ability to link 5 demat accounts to trading accounts
Performance Rating:
Parameters
Rating
Overall Rating
3.3
Fees
3.0
Brokerage
2.8
Usability
3.7
Customer Service
3.3
Research Capabilities
3.1
Positives & Negatives:
Positives
Negatives
Lower risks
No 3-in-1 accounts
Easy to hold shares
Stocks cannot be traded below Rs.20
Tested and trusted technology
Guidance from relationship managers
User Feedback
Several investment opportunities
Simplified prices
12. 5Paisa
Android Rating: 4.3
IOS Rating: 4.3
App Downloads: 1 Cr+
Speciality Company: Public Limited Company
Features:
Paperless transactions
Real-time updates
Ability to trade stocks, futures, digital gold, and mutual funds
Smart investment experience
Performance Rating:
Parameters
Rating
Overall Rating
2.6
Fees
2.9
Brokerage
3.5
Usability
2.7
Customer Service
2.1
Research Capabilities
2.4
Positives & Negatives:
Positives
Negatives
No additional commission fees
Higher annual maintenance
Reduced risk of document loss
Hefty interest charges
Corporate gains
Time-saving transactions
User Feedback
Easy tracking
Flexible loan facilities
13. IIFL Securities
Android Rating: 4.3
IOS Rating: 4.4
App Downloads: 5M+
Speciality Company: Financial Services
Features:
Single account for investment goals
Hassle-free trading process
Research-backed trading facilities
Customised portfolio
Financial advisory services
Performance Rating:
Parameters
Rating
Overall Rating
2.6
Fees
2.8
Brokerage
2.6
Usability
3.2
Customer Service
2.6
Research Capabilities
3.0
Positives & Negatives:
Positives
Negatives
Bids for IPO before subscription openings
Higher charges on transactions
Direct access to investment platforms
No stock recommendations
Effortless tracking of transactions
Quick trading processes
User Feedback
Multiple investment options
Fast Streaming
14. Axis Direct
Android Rating: 3.1
IOS Rating: 2.6
App Downloads: 5L+
Speciality Company: A subsidiary company of Axis Bank Ltd.
Features:
A single account to hold all investments
Easy to hold and transfer stocks
Freeze or lock accounts
Zero delivery risks
Performance Rating:
Parameters
Rating
Overall Rating
2.0
Fees
2.0
Brokerage
1.8
Usability
2.5
Customer Service
2.2
Research Capabilities
2.7
Positives & Negatives:
Positives
Negatives
20 different investment products
Higher account opening fees
4 amazing platforms for investment
Higher brokerage charges
11 different learning courses
User Feedback
User-friendly platform
Flexible trading opportunities
15. Dhan
Android Rating: 4
IOS Rating: 3.3
App Downloads: 1M+
Speciality Company: Stockbroker
Features:
TradingView
Basket Orders For Strategy
Dedicated Option Platform
SIP in stocks
Superfast Investment Experience
Performance Rating:
Parameters
Rating
Overall Rating
2.9
Fees
4.1
Brokerage
3.1
Usability
3.4
Customer Service
2.4
Research Capabilities
2.5
Positives & Negatives:
Positives
Negatives
Advanced option chain
No stock tips
Discount For Women
Charges per call
No Charges On Delivery Trades
Zero maintenance fees
User Feedback
Easy trading facilities
No hidden costs
16. Geojit
Android Rating: 3.1
IOS Rating: 2.9
App Downloads: 100K+
Speciality Company: Mobile trading platform
Features:
Zero account opening charges
Zero paperwork
Zero AMC until a particular month every year
Free research recommendations
Quick onboarding
Performance Rating:
Parameters
Rating
Overall Rating
3.6
Fees
3.5
Brokerage
3.2
Usability
3.9
Customer Service
3.7
Research Capabilities
2.9
Positives & Negatives:
Positives
Negatives
Access to portfolio analysis tool
High brokerage charges
Multiple client support points
Higher minimum transaction charges
Faster and convenient investments
User Feedback
No hidden costs
Multiple trading options
17. Fyers
Android Rating: 4.2
IOS Rating: 4
App Downloads: 10L+
Speciality Company: Fin-tech
Features:
F&O, Strategy Analytics and Execution
User-friendly trading processes
TradingView for market insights
Separate tools for trading and investments
Performance Rating:
Parameters
Rating
Overall Rating
2.9
Fees
3.3
Brokerage
3.5
Usability
3.2
Customer Service
3.0
Research Capabilities
2.2
Positives & Negatives:
Positives
Negatives
Zero maintenance charges demat account
There are no proper indicators for trading
No account opening fees
Risky trading process
Simplified trading processes
User Feedback
Transparent price charts
100% accurate stock details
18. Choice Broking
Android Rating: 3.9
IOS Rating: 3.6
App Downloads: 500K+
Speciality Company: Financial Conglomerate
Features:
Low DP charges
2 paisa brokerage for intraday trades
Zero auto square-off charges
Free call for trade facility
Performance Rating:
Parameters
Rating
Overall Rating
3.0
Fees
3.8
Brokerage
3.1
Usability
3.3
Customer Service
3.1
Research Capabilities
3.3
Positives & Negatives:
Positives
Negatives
Online access
Annual charges
Automatic updates
Extra DP charges
Centralised record-keeping processes
User Feedback
Single point of access
Easy loan against securities
19. SMC Global
Android Rating: 3.6
IOS Rating: 2.4
App Downloads: 1M+
Speciality Company: Financial Services
Features:
Real-time streaming quotes
Hot key functions for faster trading
Multiple exchanges with streaming rates
Mutual fund
Portfolio tracker
Security lock for better safety
Performance Rating:
Parameters
Rating
Overall Rating
3.8
Fees
3.6
Brokerage
3.5
Usability
3.7
Customer Service
3.7
Research Capabilities
3.8
Positives & Negatives:
Positives
Negatives
Call and trade facility
No mobile trading with NSE
Advance charting facility
Extra charges for featured products
Competitive brokerage rates
User Feedback
Faster transactions
Zero paperwork
20. Alice Blue
Android Rating: 3.4
IOS Rating: No rating
App Downloads: 100K+
Speciality Company: Mobile trading platform
Features:
Zero Brokerage
Unlimited Savings
Increased Security
High-end Trading Platform
Lifetime free equity delivery
Free advanced API
Timely pay-in and payout
Pan-India multilingual branch support
Performance Rating:
Parameters
Rating
Overall Rating
3.1
Fees
3.7
Brokerage
3.7
Usability
3.3
Customer Service
2.9
Research Capabilities
1.9
Positives & Negatives:
Positives
Negatives
Free equity delivery trading
No full-service brokerage services
Enhanced security
Charges on broker-assisted calls
Low cost for trading F&O
User Feedback
Flexible trading operations
Easy loans against securities
How Do We Shortlist?
Checking the parameters mentioned here will help you shortlist the specific stocks that work best for your trading session.
Find screeners based on past price performance, P/E ratio, P/BV for select industries, and dividend yield.
These ratios can help you to shortlist demat trading accounts that have a valuation comfort for any investor.
You don't need a stock to necessarily be available at a price lower than its intrinsic value.
How Does A Demat Account Work?
Here is how a demat account works:
The demat account must be linked to a trading account.
The depository participant forwards a 'buy' order to the stock exchange. This happens whenever you purchase a company’s share via any trading platform.
The exchange matches the ‘buy’ request with another trader's corresponding ‘sell’ request.
An order from the stock exchange is sent to a clearance house once it matches the requirements. This is how the number of shares you bought gets credited to your Demat account once the transaction has been settled.
Simultaneously, the seller's account is also debited for the number of shares that were sold.
How To Open A Demat Account?
You can follow these steps to open a demat account at any of the secure stock trading accounts:
Research and choose your Depository Participant (DP).
Gather all the documents you need to open a Demat account.
Make sure you have the necessary documents readily available before initiating the account opening process.
Fill out the Demat account opening form at your preferred platform.
Submit the documents and wait for them to be validated.
Start trading after your account gets verified.
Frequently Asked Questions
1. What is the difference between a trading account and a demat account?
A Demat account is used for holding and storing securities in an electronic form. It ensures the easy transfer and safeguarding of securities. A trading account, on the other hand, is used for executing buy and sell orders anywhere in the stock market. A Demat account also enables the transfer and settlement of securities.
2. What are the steps involved in opening a demat account online?
Here are the steps to follow to open a paperless demat account.
Choose a demat trading app.
Select the option ‘Open Demat Account’.
Fill Out the account opening form and submit it after entering the proper details.
Enter the one-time OTP received by phone or email.
Submit the required documents for the demat account.
Start trading after your account gets validated.
3. Is there a minimum balance requirement for maintaining a demat account?
There is no minimum amount or balance requirement for any demat account. You can keep your account empty if you wish. You can also store all financial assets in the account without having to worry about the finances.
4. Are there demat account options specifically designed for NRI investors?
Yes, demat accounts are specifically designed for NRI investors. These people can maintain two types of demat accounts - repatriable and non-repatriable. They also need a Portfolio Investment Scheme Account to buy shares from any secondary market.
Conclusion:
Trading may sound easy, but it may go wrong if you do not choose the correct platform. That is why we have curated the 20 best demat accounts in India to ensure you make the right decisions. Choose either of them and get going with your demat profits now!
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