Top 10 Best Demat & Trading Account In India 2020 (Review & Comparison)

In this article we have tried to cover everything about all the best demat account in India. 

Make sure you read this article til the end to go from beginner to an expert.

You will get detailed information on all the best trading platforms, demat account charges, lowest brokerage demat accounts and much more.

Best Demat Account &Trading Account in India (2020)

Disclaimer: This article is not written by Ankur Aggarwal, but by a friend who has multiple years of experience in investing & trading. Kindly consult an expert or a professional before taking any financial decision. Also, we may may earn a referral/affiliate fee if you sign up on few of the recommended services  in this article. You are free to not use our link and signup directly by visiting their site. The information on this article is updated as on 20th April 2020.

1. Zerodha

Zerodha is the largest discount broker in India in terms of active clients, and has several offerings that make it lucrative for investors and those interested in day-trading.

The best part of Zerodha is that they offer a flat Rs. 20 brokerage rate on intraday trade of any quantity, which is especially appealing to the investors who make big trade decisions.

Zerodha was founded in 2010 and has consistently improved on its up-to-date technology interfaces, timely knowledge, and competitive prices.

The company has won several recent recognitions, like the 'Retail Broker of the year' Award by Outlook Money in 2017, and the 'Retail Brokerage of the year 2018' by the National Stock Exchange (NSE).

Its founders too have won accolades like the 'Young Entrepreneur of the year (startup) 2017' award given by Ernst & Young, which only adds to Zerodha's reputation.

Key Benefits:

  • Zerodha offers free delivery and there is no brokerage on delivery.
  • No minimum cap of brokerage per transaction.
  • The maximum brokerage is capped at Rs. 20 irrespective of transaction volume. Meanwhile, the brokerage rate is 0.01%, or Rs 20 flat, whichever is lower.
  • An account can be opened online within four to five working days
  • Ideal for small investors because of no minimum charges and low AMC fees

Key Information

Company Type

Public

Broker Type

Discount Broker

Headquarters

Bengaluru

Founder

 Nithin Kamath, Nikhil Kamath, Dr.Kailash Nadh

Established Year

2010

Account Charges

Account Opening Charges

Rs.300

Demat AMC Charges

Rs.300 per Annum

Trading AMC Charges

Free

Brokerage

Equity Delivery Trading

Zero

Equity Intraday Trading

0.01% or Rs.20

Commodity Trading

0.01% or Rs.20

Equity Futures Trading

0.01% or Rs.20

Equity Options Trading

Rs.20 per Lot

Currency Futures Trading

0.01% or Rs.20

Currency Options Trading

Rs.20 per Lot

Minimum Brokerage

Zero

Trading Platforms:

  • Zerodha Trader - An end-to-end trading solution that is perfect for full-time investors and traders, as it provides complete market data and multi-market access. It also has a lot of other features like in-depth research, comparison options and more all integrated into one solution.
  • Zerodha Z5 - Zerodha's browser-based website specifically created for those users who have low bandwidth internet connectivity. The lite version is great for performing basic operations and features.
  • Zerodha Kite Mobile App - A powerful mobile app that allows you to trade from your smartphone and be updated on your portfolio, daily market activities, and more.
  • Zerodha Pi - A next-generation trading platform that has more advanced features targeted towards the serious investor or trader. It can support integrating charting with up to 50,000 candles and is preferred by those who are full-time traders or prefer doing their own in-depth analysis before investing.

2. Upstox

Upstox is another discount broker, with a tech-first approach in providing trading opportunities at unbeatable prices.

The company offers services in various segments like equities, commodities, currency, futures, and other options.

The company has several portals for each of this offering like Upstox Pro Web and Upstox Pro Mobile trading platforms.

Earlier known as RKSV, the trading platform is brilliant for offering trading insights, analysis, charting, and other rich features that are preferred by traders. While it is great for stock investments and trading, know that Upstox does not support investments in IPO and FPO using its platform.

Key Benefits:

  • Upstox offers brokerage free trading in Equity Delivery (customers do not have to pay brokerage on delivery trades in this segment)
  • Fantastic mobile trading app and an online interface that is perfect for traders and serious investors
  • Trailing-Stop/Stop-Loss is available on both the web and smartphone app
  • Fix and low brokerage irrespective of trade volume
  • Relatively good customer service in the segment

Key Information

 Type

Private

Broker Type

Discount Broker

Headquarters

Mumbai, India

Founder

Raghu Kumar, Ravi Kumar & Shrinivas Vishvanath

Established Year

2011

Account Charges

Account Opening Charges

Rs.150

Demat AMC Charges

Rs.150 per Annum

Trading AMC Charges

Free

Brokerage

Equity Delivery Trading

Zero

Equity Intraday Trading

Rs.20

Commodity Options Trading

Rs.20

Equity Futures Trading

Rs.20

Equity Options Trading

Rs.20 per lot

Currency Futures Trading

Rs.20

Currency Options Trading

Rs.20 per lot

Margin Money

Zero

Minimum Brokerage

Rs.20

Trading Platforms:

  • Upstox Pro Trading Terminal:  The trading terminal is a  desktop-based software that is best used by serious traders, financial analysts, and investors. The lightweight platform allows you to quickly make all financial decisions and can work with a basic internet connection as well.
  • Upstox Pro Mobile App: The mobile app is available for almost all platforms (Android, IOS, Windows) and offers a variety of features that are great for traders. This allows you to trade with ease and flexibility and has advanced features, making it perfect for those on the move.
  • Upstox Pro Web: The web-based trading platform that can conveniently allow you to access the platform from any laptop, desktop, or mobile platform. It requires normal internet access and also has advanced features but not as detailed as the desktop-based trading terminal.

3. 5Paisa

A recent entrant in the discount brokerage market, 5paisa is the fastest-growing stockbroker in India and is now the second-largest discount broker.

Launched in 2016, the platform is also listed on BSE and NSE, while offering you various features to invest in equity, commodity, currency, and a variety of other financial instruments.

It also provides 5paisa prepaid plans, i.e. Optimum Plan, Platinum Plan, and Titanium Plan.

The customer pays further lower brokerage in platinum and titanium plans for an additional fixed monthly fee.

CDSL awarded 5paisa the Premier Depository Participant in March 2019. The popularity of the platform is thanks to its lowest brokerage charges and intuitive app, which is perfect for traders as well as beginners. A single trade worth crores can be placed at just ten rupees brokerage per trade, without any percentage.

Key Benefits:

  • 5paisa offers a hundred percent waiver on account opening charges, which is a saving of Rs. 650. 
  • It offers very low Maintenance Charges – Rs. 45 per month. Additionally, you are charged only on the months you trade.
  • 5paisa also provides advice and research like technical, derivative and fundamental research to customers for an additional cost.
  • The account can be activated within one working day if all the information and documents are in place.
  • Flat brokerage and free trading account with no margin money account.
  • The same 5paisa demat account and platform can be used for investments in mutual funds and even buy insurance.

Key Information

Company Type

Public

Broker Type

Discount Broker

Headquarters

Mumbai

CEO

Prakash Gagdani

Established Year

2016

Account Charges

Account Opening Charges

Rs.650

Demat AMC Charges

Rs.400 per Annum

Trading AMC Charges

Free

Brokerage

Equity Delivery Trading

Rs.10

Equity Intraday Trading

Rs.10

Commodity Options Trading

NA

Equity Futures Trading

Rs.10

Equity Options Trading

Rs.10 per lot

Currency Futures Trading

Rs.10

Currency Options Trading

Rs.10 per lot

Margin Money

Zero

Minimum Brokerage

Rs.10

Trading Platforms:

  • 5paisa Mobile App:  It is perfect for customers who want a wide variety of features from their Demat platform on the phone. It supports IOS, Android, and Windows platforms. The simple, intuitive UI makes it easy to buy or sell stocks in the BSE and NSE, trade currency futures, invest in mutual funds, ETFs, bonds and other financial instruments. The app also has robo-advisory and other features that are amazing for beginners.
  • 5paisa Web Trading: 5paisa has a powerful trading website that can be accessed from any available web browser on the computer, laptop, mobile devices or tablets. The website is great for it supports all kinds of trading in one well-integrated website. The web-based trading platform is also integrated with payment gateways from several banks for instant fund transfers.
  • 5paisa Trade Terminal: 5paisa desktop trading terminal is designed for frequent traders who need advanced trading tools. The desktop application offers real-time data, advance charts for intraday, and historical stock prices.

Incorporated in 2000, Sharekhan is India's largest stockbroker (3rd) which provides brokerage services through 1800 offices and an online trading website.

It has branches in over 500 cities in India and also has a presence in UAE and Oman, making it one of the top investment stockbrokers.

Sharekhan offers trade execution facilities for equity, derivatives and cash segments on BSE and NSE, commodities trading facilities on MCX and NCDE, while also offering depository services (Demat account) and option to invest in mutual funds and IPOs. 

It was initially part of SSKI Group before being acquired by BNP Paribas Group in 2016. The company is best for beginners or casual investors who are looking for a service that will provide day-to-day updates, research and insights, and provide recommendations for investment based on financial goals.

Key Benefits:

  • Sharekhan charges no annual maintenance charge during the first year.
  • Provides online & offline training workshops to investors who will teach you all about trading and financial planning.
  • Free call and trade facility.
  • Account opening charged adjusted towards the first six months of brokerage or is completely waived off.
  • Allows users to trade in multiple financial instruments from a single platform.
  • Extensive features for both traders and investors with enhanced live charts and detailed analysis.

Key Information

Company Type

Public

Broker Type

Full-Service Broker

Headquarters

Mumbai

CEO

Shripal Morakhia

Established Year

2000

Account Charges

Account Opening Charges

Rs.750 & Rs.1000

Demat AMC Charges

Rs.400 per Annum

Trading AMC Charges

Free

Brokerage

Sharekhan offers brokerage in two plans: prepaid and postpaid plans. These are based on basic brokerage charges and vary slightly depending on several choices. On all brokerages, the minimum charges will be:

  • Intra-day Trades: 5 paise per share
  • Delivery-based Trades: 10 paise per share

6 Months Prepaid Plan

Brokerage Amount

Default

750

Intraday

0.1%

0.1%

Delivery

0.5%

0.5%

Futures

0.1%

0.1%

Future Next Day

0.1%

0.1%

Option

Rs.100 per Lot

Rs.100 per Lot

Annual Prepaid Plan

Brokerage Amount

1,000

2,000

6,000

18,000

30,000

60,000

1,00,000

2,00,000

Intraday

0.09%

0.07%

0.05%

0.04%

0.03%

0.02%

0.01%

0.005%

Delivery

0.45%

0.4%

0.25%

0.2%

0.18%

0.15%

0.1%

0.08%

Futures

0.09%

0.07%

0.05%

0.04%

0.03%

0.02%

0.015%

0.005%

Future Next Day

0.09%

0.07%

0.05%

0.04%

0.03%

0.02%

0.01%

0.005%

Option

Rs.95 per Lot

Rs.80 per Lot

Rs.70 per Lot

Rs.50 per Lot

Rs.40 per Lot

Rs.30 per Lot

Rs.25 per Lot

Rs.10 per Lot

Sharekhan Prepaid Brokerage Plan

Postpaid Plans – New Trader

Margin Amount

25,000

30,000

40,000

Intraday

0.10%

0.10%

0.09%

Delivery

0.50%

0.50%

0.45%

Futures

0.10%

0.10%

0.09%

Future Next Day

0.10%

0.10%

0.09%

Option

Rs.100 per Lot

Rs.100 per Lot

Rs.95 per Lot

Postpaid – Day Trader

Margin Amount

50,000

1,00,000

3,00,000

5,00,000

10,00,000

20,00,000

Intraday

0.07%

0.05%

0.04%

0.03%

0.02%

0.02%

Delivery

0.40%

0.25%

0.20%

0.18%

0.15%

0.10%

Futures

0.07%

0.05%

0.04%

0.03%

0.02%

0.02%

Future Next Day

0.07%

0.05%

0.04%

0.03%

0.02%

0.02%

Option

Rs.80 per Lot

Rs.70 per Lot

Rs.40 per Lot

Rs.40 per Lot

Rs.30 per Lot

Rs.25 per Lot

Trading Platforms:

  • Sharekhan TradeTiger Desktop Terminal: A detailed desktop-based terminal that is ideal for serious traders and investors. It has all the features like keyboard shortcuts, the export of the dashboards and research to analytical tools, detailed graphs and real-time market updates. It also supports trading in all segments from the platform.
  • Sharekhan Website: The web-based application with similar features to the desktop terminal but with a few missing features. It still has advanced features and allows you to perform almost all trading and investment actions.
  • Sharekhan Mobile App: An advanced mobile app with live charts, trade features and virtual portfolio tracker to give you a basic understanding of your financial investments.
  • Sharekhan Mini: Sharekhan's low bandwidth website for easy access and performing investments.
  • Sharekhan Dial-n-Trade: An easy option to take trading decisions and perform any activity right through a phone call. All the orders are placed using dedicated contact numbers and PIN to provide utmost safety.

Angel Broking is one of the oldest brokerage companies in India and has offices in over 900 cities providing services to over 10,00,000 customers.

Established in 1987, the platform provides expert advisory services and is ideal for those who wish to go in-depth in trading or looking for a platform that will provide recommendations and insights through 8500+ sub-brokers.

Their main offerings include Equity Trading, Mutual Funds, IPO, FPO, Commodities, Depository Services, Portfolio Management Services, Life Insurance, and Investment Advisory.

Angel Broker also has Wealth Management and E Broking services for individuals.

Key Benefits:

  • Free SMS advisory services for three months.
  • Easy to start and operate a trading account with digital KYC that can take as less as one hour to create an account.
  • Flexible brokerage plans perfectly suited for all types of investors.
  • Opening a demat account is completely free.
  • Offers almost all kinds of investments in Equity, Commodity, Currency and others through a single platform.
  • Strong Research, Robo Advisory and Sub-Brokers to help you make the best trading decisions.

Key Information

Broker Type

Full-Service Broker

Headquarters

Mumbai

Founder

Dinesh Thakkar

Established Year

1987

Account Charges

Account Opening Charges

Zero

Demat AMC Charges

Free or 300 per Annum

Trading AMC Charges

Free

Brokerage

Equity Delivery Trading

FREE

Equity Intraday Trading

Rs.20 per order

Commodity Options Trading

Rs.20 per order

Equity Futures Trading

Rs.20 per order

Equity Options Trading

Rs.20 per order

Currency Futures Trading

Rs.20 per order

Currency Options Trading

Rs.20 per order

Margin Money

Rs.10,000 Minimum

Minimum Brokerage

Rs.20 per order

Trading Platforms:

  • Angel Eye – A web-based platform of Angel Broking that is useful for portfolio tracking, investing and getting updated quotes. It also provides you with up-to-date market information and live news to keep track of your investments.
  • Angel Broking App –  A mobile app of Angel Broking that is useful to track updates in the stock market and gain information of your portfolio. The app also has all the features allowing you to make purchase decisions within the app.
  • Angel Speed Pro –  Angel Broking’s desktop software comes with 30 days intraday and 20 years of historical data. The range of highly accurate data is perfect for serious traders and financial experts. The Pro is desktop-based and is used by traders for performing various financial operations.

Religare Securities has been operational since 1984, adding it to the list of one of the oldest stockbrokers in India.

Established in Delhi, the company has progressively evolved since its inception and has slowly ventured into creating an online platform to provide its customers with the ability to perform various trading and investment-related operations online.

They now have a huge list of remote trading tools and platforms that are perfect for all kinds of investors.

Religare has also been awarded several noteworthy prizes like 'Best IPO Listing’ from Outlook Money NDTV Profit in 2008, ‘NSDL Star Performer Awards – 2016’ to ‘Regional Retail Member of the Year – North’ – NSE Market Achievers Awards in the year 2018.

Key Benefits:

  • Amazing mobile trading platform to place orders from anywhere.
  • The interface and the mobile app provides the facility of investing in equities, derivatives,  futures, commodities, currency, and mutual funds through a single account.
  • Great research and ideal for intraday trading, thanks to historical charting and intraday reporting features.

Key Information

Company Type

Public

Broker Type

Full-Service Broker

Headquarters

Delhi, India

CEO

Malvinder Mohan Singh,

Shivinder Mohan Singh

Established Year

1984

Account Charges

Account Opening Charges

Rs.500

Demat AMC Charges

Free or Rs.300 per Annum

Trading AMC Charges

Free

Brokerage

Equity Delivery Trading

0.10% – 0.40%

Equity Intraday Trading

0.01% – 0.04%

Commodity Options Trading

0.01% – 0.04%

Equity Futures Trading

0.01% – 0.04%

Equity Options Trading

Rs.100 per lot

Currency Futures Trading

0.01% – 0.04%

Currency Options Trading

Rs.10 per lot

Margin Money

Rs.50,000

Minimum Brokerage

As per Transaction

Trading Platforms:

  • Religare Securities Terminal: A desktop-based terminal that provides detailed analytics, the ability to perform financial decisions and advanced portfolio and trackers. It is ideal for regular investors, traders, and analysts.
  • Religare Dynami App: A simple app that is best suited for those who want limited functions but with options to perform all their investments and trading online. It is  available on IOS and Android.
  • Religare Online: Religare's web-based platform that takes basic and advanced features from the securities terminal. It has alerts, notifications, and requires a stable internet connection.
  • Religare Securities On The Go: The smartphone application of Religare Securities allows you to perform almost all trade-based decisions through a single platform.

A full-service brokerage firm established in Mumbai, Ventura has been operational since 1994 and offers a range of investment options from equities to mutual funds.

Their advisory and research is one of the best in the country and is the prime reason why many still prefer to invest using it.

Despite the fantastic insights and great customer service in several areas like equity, equity derivatives, commodities, fixed income products, mutual funds, and currency futures, their web-based app is not as advanced as some of the recent entrants.

This lack of advanced dashboards and analytics is the reason most traders prefer their desktop application.

Key Benefits:

  • Supports investments in a wide range of financial products like equity, equity derivatives, commodities, fixed income products, mutual funds, and currency futures.
  • The annual maintenance charge on the first year is completely free.
  • Fantastic customer support and personal investment advisory.
  • Fantastic customer support and personal investment advisory.

Key Information

Company Type

Public

Broker Type

Full-Service Broker

Headquarters

Mumbai

CEO

Sajid Malik

Established Year

1994

Account Charges

Account Opening Charges

Free

Demat AMC Charges

Free

Trading AMC Charges

Free

Brokerage

Equity Delivery Trading

0.10% to 0.45%

Equity Intraday Trading

0.01% – 0.05%

Commodity Options Trading

0.01% – 0.05%

Equity Futures Trading

0.01% – 0.05%

Equity Options Trading

Rs.18 – Rs.50 per lot

Currency Futures Trading

0.01% – 0.05%

Currency Options Trading

Rs.18 – Rs.50 per lot

Margin Money

Rs.1,000

Minimum Brokerage

As per Transaction

Trading Platforms:

  • Ventura Pointer – Ventura's desktop-based software trading platform which is perfect for working on a desktop or laptop. Ventura Pointer has features like customizing the watch marker window, detail script, and allows study, analysis & trade from the chat window.
  • Ventura Web-Based Trading – The web based trading platform from Ventura can be easily accessed from any browser. However, it lacks a lot of features. The trading platform lacks most of the features its competitors provide, and these limited features are the reason the platform is not preferred by many investors.
  • Ventura Wealth – Another mobile app-based trading platform by Ventura that also has other wealth management features. It provides real-time trading and lives market updates.

A renowned and trusted brand in financial services, Motilal Oswal, has been operational since 1987 and is named after its founder, who is renowned for his knowledge of investment and other financial assets.

Motilal Oswal is a financial services company that has a host of offering in almost every financial segments.

This includes products and services such as Retail Broking and Distribution, Asset Management, Private Equity, Commodity Brokering, Asset Management, Private Equity, Commodity Brokering, Private Wealth Management, Institutional Broking,  Investment Banking, Currency Broking and Home Finance. 

They have offices in over 550 cities and towns with over 10 lakh customers. The brokerage service is known for impeccable research and accurate reports, thanks to its strong team of analysts researching over 250 companies across 25 divisions.

Their research is one of the prime aspects of their popularity while their web and mobile app are quite user-friendly and dynamic.

Key Benefits:

  • Motilal Oswal spends around 10% of its revenue on research and hiring for research training. This makes it a great platform for reliable, accurate research calls, especially for those who are beginners.
  • They have offices across India to provide great customer support.
  • Excellent operational efficiency and advisory, which can be accessed from the web, mobile, and desktop.
  • It offers all kinds of trading & investment solutions in one place (right from equities to Insurance).
  • Support for trading in several exchanges like – BSE, NSE, NCDEX, and MSEI, all in one platform.
  • Dedicated advisors for personal financial planning and investments.

Key Information

Company Type

Public

Broker Type

Full-Service Broker

Headquarters

Mumbai, India

CEO

Motilal Oswal, Raamdeo Agrawal

Established Year

1987

Account Charges

Account Opening Charges

Zero

Demat AMC Charges

Free or Rs.300 per Annum

Trading AMC Charges

Free

Brokerage

Equity Delivery Trading

0.50%

Equity Intraday Trading

0.05%

Commodity Options Trading

0.05%

Equity Futures Trading

0.05%

Equity Options Trading

Rs.70 per Lot

Currency Futures Trading

0.05%

Currency Options Trading

Rs.70 per Lot

Margin Money

Minimum Rs.10,000

Minimum Brokerage

Percentage of Transaction

Trading Platforms:

  • Orion – High-Speed Trading Platform: The desktop-based software solution that is perfect for traders and investors to get real-time updates, advanced features, analytics, embedded charting tools, and numerous customizations for traders like Bollinger Bands, Moving Averages and Triple Exponential Moving Average, etc. This is ideally suited not just for advanced traders and analysts but also amateur investors who wish to learn how to make informed financial decisions.
  • Motilal Oswal Mobile Trading App: The mobile extension of the Motilal Oswal Investor app that can work with IOS and Android. It provides a variety of financial products that you can trade-in using the app while also gaining in-depth research, single click executions, and portfolio suggestions.
  • Motilal Oswal Web Trading Platform: The web-based application of the Motilal Oswal platform that will provide similar features to Orion. It is great for not just online trading but also research and analysis.

ICICI Direct is the second-largest retail brokerage in India and is used by over 20,00,000 customers, which is part of the overall ICICI Group.

The platform is fantastic for existing ICICI custom as it offers them the benefits of the three in one account that includes their ICICI savings, Demat, and trading account.

While a new customer can also avail this facility, the process may be tedious, and the brokerage rates are highly similar to other bank brokers.

The best thing about ICICI Direct, though, is that their web and mobile applications are pretty streamlined as compared with other bank brokerages and get you multiple support and personal investment options.

 So, it is best suited for a person who is an ICICI customer and is just beginning to invest in the stock market. The account is also best for those who have low trading volumes and have all their other investments and finances with ICICI Bank.

Key Benefits:

  • A great option for existing ICICI customers to gain the benefits of a 3-in-1 account (Saving+Trading+Demat).
  • It is easy to transfer funds from ICICI accounts.
  • It can be used for investments in equities, SIP, IPO, NCD & bonds, derivatives, mutual funds, wealth products, ETF, and currency.
  • Good apps that are mobile friendly and offer fantastic features for analysis.
  • Customer support and portfolio management features are great for beginners.

Key Information

Company Type

Public

Broker Type

Full-Service Broker

Headquarters

Mumbai, India

CEO

Vijay Chandok

Established Year

1994

Account Charges

Demat AMC Charges

Rs.500 per Annum

Trading AMC Charges

Rs.975

Margin Money

Minimum Rs.20,000

Brokerage

Delivery Trading

0.55%

Intraday Trading

0.03% – 0.05%

Commodity Options Trading

NA

Futures Trading

0.03% – 0.05%

Equity Options Trading

Rs.35 – Rs.95 per Lot

Currency Futures Trading

0.03% – 0.05%

Currency Options Trading

Rs.10 – Rs.35 per Lot

Minimum Brokerage

Rs.35 per Trade

Trading Platforms:

  • ICICI Direct Share Trading Account – ICICI's web-based platform which is ideal for your trading and investing activities. However, this application has limited features and isn't recommended for traders who wish to do a deep-dive or technical analysis.
  • ICICI Trade Racer – A trading platform that is ideal for serious investors and traders as it offers additional features that are suitable for technical analysis as well. The application provides features like live streaming quotes and an integrated fund transfer system. This makes it ideal not just for your trading decisions but also for analysis and forecasts.

10. SBIcap

SBICap Securities Ltd was established in 2006 and had been serving its customers with a great option for investments and trading.

While the app may not be at par with some of the discount brokers, it allows you to invest in several segments like equity, IPO, ETFs, bonds, fixed deposits, currency, mutual funds,  and insurance.

The option is best suited for existing SBI customers or those who wish to have a complete three in one account for all their financial needs with SBI.

The brokerage also provides benefits like portfolio and wealth management, insights and good customer support. This makes it great for beginners and those who are not performing high volume trades.

Key Benefits:

  • SBIcap is linked to SBI, India's largest bank and has fantastic support and other features.
  • A complete range of financial products that customers can invest and trade in using a single interface, which makes it ideal for customers who have most of their financial options with SBI.
  • Offers three in one account benefits while you also get relationship managers and wealth management services.

Key Information

Company Type

Public

Broker Type

Full-Service Broker

Headquarters

Mumbai, India

CEO

Arun Mehta

Established Year

2006

Account Charges

Account Opening Charges

Rs.500

Demat AMC Charges

Rs.400 per Annum

Trading AMC Charges

Free

Brokerage

Equity Delivery Trading

0.50%

Equity Intraday Trading

0.08%

Commodity Options Trading

NA

Equity Futures Trading

0.03% – 0.05%

Equity Options Trading

Rs.50 per lot

Currency Futures Trading

0.02%

Currency Options Trading

Rs.20 per lot

Margin Money

Rs.25,000

Trading Platforms:

  • SBICap Securities Web Trading Platform: A complete end-to-end platform for all your trading needs that offers a range of securities features. It can work on desktop, mobile and provides amazing trading features.
  • SBI Smart Trading App: A great functional trading app that has most of the visual interfaces, advanced tools and extensive research of the reasonable trading apps. It can be installed on IOS and Android, while the new versions are slowly getting rid of most of the bloat and frequent pop-ups.

11. HDFC

HDFC bank's securities option is excellent if you want to open a Demat account with the same bank that you have an account with.

However, if you wish to open a three in one with HDFC and do not have an account here, know that the process will take time as you will first need to start a savings account.

The HDFC securities app is great and offers multiple services for investing and trading.

Still, the brokerage rate is comparatively high, and it may not have advanced dashboards like discount brokers.

HDFC securities also don't offer service in commodities, so one needs to make an informed decision before opening an account here.

Key Benefits:

  • Beneficial for those who are already an HDFC customer and have an account with the bank. HDFC Securities allows customers to opt for a three in one account that integrates HDFC securities trading and Demat account into the HDFC bank savings account.
  • It has great support and seamless options to trade in almost all financial products, from futures, options, IPO, stocks, and more.
  • Easy to transfer funds and other benefits of dedicated insights and portfolio managers.

Key Information

Company Type

Public

Broker Type

Full-Service Broker

Headquarters

Mumbai, India

CEO

Dhiraj Relli

Established Year

2000

Account Charges

Account Opening Charges

Rs.500

Demat AMC Charges

Rs.300 per Annum

Trading AMC Charges

500

Brokerage

Equity Delivery Trading

0.50%

Equity Intraday Trading

0.50%

Commodity Options Trading

NA

Equity Futures Trading

0.50%

Equity Options Trading

Rs.100 per Lot or 1% of Premium (Takes higher Amount)

Currency Futures Trading

0.50%

Currency Options Trading

Rs.100 per Lot or 1% of Premium (Takes higher Amount)

Margin Money

Minimum Rs.25,000

Minimum Brokerage

Rs.25

Trading Platforms:

  • HDFC Securities Pro Terminal - The securities pro terminal is a platform that provides an overall view of trading and other investment options. It covers all the securities features and can also be used to invest in the stock market while also performing other securities-related features.
  • HDFC Securities Blink Trade - Blink trading platform is a focused application for trading in futures, options and equity segments. The application also comes with a mPowered trading platform to provide an end-to-end on all trade decisions - monitoring, buy/sell, analyze, etc.
  • HDFC Securities App - HDFC's mobile trading app that can allow you to do all your trading-based activities. However, it lacks advanced features and have several limitations.
  • HDFC Securities Digify - This platform is particularly for HDFC's mutual fund investments and enables users to easily access their portfolio, manage and track their mutual fund related investments, and withdraw them anytime.

Complete guide:

Are you thinking of investing in the stock market, mutual funds, or other financial products?

Whether it is long-term investments, short-term returns, or intra-day trading, the first step to start your journey in financial investments is opening a Demat account. And as you've heard often, the first step is always the hardest.

With financial investments, this is an apt phrase since there are several impediments to taking the first step when it comes to investments and trading.

While lack of financial knowledge, the fear of several risks involved, the non-availability of funds, and several other factors are some of the critical concerns when starting, the complexity of opening a Demat account tops the list.

But opening a Demat account is not so complicated at all. With the many options available in the market, it is now easy to start trading or investing by opening a Demat account in just a few, quick, and straightforward steps.

However, with so many options available in the market, how do you choose the right platform for opening your Demat account? Furthermore, how much will it impact your returns and overall brokerage fees?

In this article, we will answer every question you have to help you take the first step towards financial investments!

Introduction to Demat Account

Back in the early years, the share market worked on physical trades, where bids were placed, and the winning bid would be granted through a share certificate on paper.

However, post the advancements in technology, this entire process was shifted slowly to the electronic medium, with the whole process taking place in electronic form. To bid, buy, hold or sell shares or any other financial securities, a decentralized account or a Demat account was required.

A Demat account is where you perform all your trading and investment processes, as all the shares and holdings are now in electronic form only. This makes it easy for even someone who is not too well-versed with financial investments to explore shares, place bids, and keep track of their financial portfolio.

Opening a Demat account is easy, but incurs account opening and maintenance charges. Besides, the brokerage for investments in various financial instruments varies depending on the type of investment, returns, and even the platform where the Demat account is opened.

Since these charges, features, and fees vary depending on each platform, the choice becomes tough.

The parameters you should choose when selecting a platform to open your Demat account

While most initial investors may not have a proper financial goal or plan, it is highly important in the long run.

The overall financial plan will decide which Demat account is the right one for you. So, when judging a Demat platform, consider the following factors:

Trading Costs & Overheads

Trading costs, brokerage charges, Annual Maintenance Charges (AMC), transaction costs, taxes, and other overheads will determine how much money you gain once you decide to cash in on your investments or trades.

Depending on the type of account, brokerage costs can be a fixed percentage of the trade value or a flat fee on every order.

Additionally, some brokers also offer lower brokerage plans as per slabs wherein the higher trading turnover will have much less brokerage.

User Interface & Research Capabilities

Since most of the trading and investment happens through the Demat platform, your selected platform must offer an amazing User Interface (UI).

A good UI will enable you to learn and explore the various parameters easily and gain additional insights via dashboards, comparisons, and features. In addition to the UI, the platform should also be mobile-friendly, since this will be of help for you to easily access and have an overview of your portfolio wherever you are!

Additionally, the dashboards and reports are only as good as the research and tips provided by your chosen platform.

So, this becomes vital since it provides accurate predictions, trustworthy information, and provides you with the right calls to influence your buying/selling decision.

While the expert team will do all the financial analysis and provide you with the research, a credible platform will allow you to do basic comparisons using its features and information made available through detailed research and minute-to-minute updates!

Customer Service & Features

Finally, a good platform will provide you with a host of features and customer support that makes your financial investments and trading easy.

These could be online customer care, relation manager to help you assist in trading and other services, dedicated service providers, and other features like on-call inputs, option to buy or sell through a phone call, SMS updates, and more.

While the host of features and costs are a great way to compare, the final decision is to be based on your needs and requirements. So make sure you choose a trading platform that:

  • Matches your requirements from the platform (e.g. if you are looking for a casual investment platform and would like to take buy/sell decisions quickly on a call with someone recommending you options, go for platforms that have this support)
  • Supports your financial goal and investment preferences (e.g. if you are looking for day-trading with large deals, go for a platform that will offer a fixed price brokerage per trade, so the costs are lower as compared to a percentage based fee)

Other Notable Mentions

  • Edelweiss
  • Kotak Securities
  • Axis Direct
  • Karvy

Documents Required to Open Demat Account

To open a Demat account with any platform, you will need to produce a list of documents and sign a few forms to begin the account opening process. Primarily this will include:

Proof of Income

  • Income Tax Return (ITR) Acknowledgement slip submitted to the Income Tax Department during tax filing.
  • Certificate of Net Worth or photocopy of the annual statement of accounts authenticated by a Chartered Accountant.
  • Salary Slip of the current month or Form 16.
  • A statement of Demat Account holdings with an eligible Depository Participant.Latest statement of your bank account containing the income history of the last six months.
  • Any documents that prove ownership of assets through self-declaration.

Proof of Identity

  • PAN card having a valid photograph.
  • Aadhaar card / Voter ID card / driving license/ Passport.
  • Identity card having applicant’s photo which is issued by Central/State Government and its Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, Public Financial Institutions, University affiliated Colleges, Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council, and Credit/Debit cards issued by Banks.

Proof of Address

  • Passport/Voters Identity Card/Ration Card/Registered Lease or Sale Agreement of Residence/Driving License/Flat Maintenance bill/Insurance Copy.
  • Utility bills like landline telephone bill, electricity/gas bill, which is not more than three months old.
  • Bank Passbook which is not more than three months old.
  • Self-declaration of a new address
  • Address proof which is issued by bank managers of Scheduled Commercial Banks/Scheduled Co-Operative Bank/Multinational Foreign Banks, Gazetted Officer / Notary public, Member of Legislative Assembly, Member of Parliament.
  • Identity card containing address which is issued by Central/State Government and its Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, Public Financial Institutions, University affiliated Colleges, Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council.
  • Address proof which is given in the name of the spouse

FAQs

Which is the best account for trading?

There are innumerable trading accounts and platforms available in the market today, and the best account for trading depends on the kind of financial requirements and features that the investor is looking for. To decide the best Demat account, one should judge by a few parameters like:

  • Trading costs and overheads
  • User interface
  • Research capabilities
  • Customer service
  • Additional features that one is looking for

In short, there is no single platform that has all the benefits and features. Depending on what you are looking for, you can opt for:

  • Discount Brokers (5Paisa, Upstox, Zerodha)
  • Stockbrokers (Sharekhan, Angel Broking, Religare, Motilal Oswal)
  • Banking brokers (ICICI, HDFC, SBI, Axis, Kotak)

Which is the best bank for Demat accounts? Which bank has the lowest brokerage?

Most multinational banks and national banks in India offer a three in one account, which includes:

  • A savings account
  • A trading account
  • A Demat account

The three in one accounts make it easy for casual investors and beginners in the stock market to manage their portfolio and seamlessly perform transactions between these accounts. The ideal suggestion is to open a Demat with the same bank where you have your savings account.

However, this is not always the best decision, especially if you have specific requirements for trading and investing. You should decide based on the charges and your financial goals when choosing a Demat platform. Some of the top banking Demat account providers and their charges are as follows:

ICICI Direct

₹975

₹700

0.55%

HDFC Securities

₹999

₹700

0.50%

Kotak Securities

₹750

₹600

0.49%

AxisDirect

₹900

₹650

0.50%

SBI Securities

₹850

₹350

0.50%

IDBI Capital

₹500

₹450

0.50%

Yes Securities

₹999

₹500

0.45%

Which is the best Demat account for beginners?

Although there is no clear answer since each Demat provider has particular plans, charges, and features that make them stand out, beginners should first plan their financial goals. Once defined, they can choose a provider that best suits their requirements.

Since the three in one 3-in-1 account offers easy integration and features like on-call trading, dedicated relationship manager and other options perfect for amateurs, bank Demats are preferred when starting.

However, most discount brokers and stockbrokers are now offering similar features, and if you are looking for a provider that gives features like deep analysis, comparisons, and dashboards to help you make the right decision in trading, go for this option.

These dashboards and other capabilities make it easy for beginners to learn and slowly gain expertise in trading or making calculated investments.

What is the difference between Demat and trading accounts?

A trading account is where you can buy or sell orders in the financial markets, and make bids since dematerializing shares into digital format. Trading account is used when buying shares from the BSE or NSE, mutual funds or other financial products.

A Demat account is where the bids that are won are deposited and will act as a bank for your financial instruments.

When you sell your shares, the shares sold are taken from this account. However, one need not worry about this differentiation now as almost every provider will give you a single account comprising both the Demat account and trading account.

Which broker gives more margin?

Since Demat platforms levy several charges, it is hard to provide a clear answer on which broker provides the highest margins.

To make the right decision, understand your investment patterns and then choose a Demat platform that offers you the best services and low fees depending on your financial investment or trading needs. For a clear comparison only on brokerage charges, the table below will help you get a clear picture:

Demat Platform

Brokerage Charges

Zerodha

Zero for Delivery; Rs. 20 per trade flat for any order size

Upstox

Zero for Delivery; Rs. 20 per trade flat for any order size

Sharekhan

0.10% to 0.50%

Angel Broking

0.04% to 0.40%

Motilal Oswal

0.05% to 0.50%

ICICI Direct

0.05% to 0.55%

HDFC Securities

0.05% to 0.50%

Kotak Securities

0.049% to 0.49%

Can a person have 2 Demat accounts?

A single person can open multiple Demat accounts, and there are no legal complications that could arise from this. It is perfectly legal to open multiple Demat and trading accounts. However, these come with a few terms and conditions. Some of the things you need to be aware of are:

  • You cannot open multiple Demat accounts or trading accounts with the same broker or Demat Platform. If you plan to have another Demat, it has to be with a third-party provider.
  • Having multiple Demat accounts can be helpful to segregate your trader and investor portfolio. However, each Demat provider has particular charges ranging from Annual Maintenance Charges, transaction fees, etc. So, make sure you have a strong reason to have multiple Demat accounts.
  • Demat accounts that are unused for too long with no transactions can get frozen and will require you to complete your e-KYC and other procedures for reactivation. So, make sure you are opening multiple Demat accounts only if you plan to regularly monitor and carry out transactions.

Is a Demat account free?

Depending on the Demat platform, various charges will be levied for your Demat account. However, some trading platforms offer free opening of Demat accounts, while others do not have any Annual Maintenance Charges (AMC) and will charge only on brokerage for your transactions.

As you will be charged a fee or percentage at some point, a Demat account is never completely free. So, one should select a Demat provider that matches your financial goals and requirements.

What happens if the Demat account is closed?

You can easily close your Demat account if you are no longer planning to make future investments or wish to shift your Demat entirely to a different provider. To close the Demat account, you need to fill out the closure of the account form and sign to deregister your account. However, know that if you close:

  • There should be no shares in the account, and you do not intend to hold any shares in this account
  • If you have other Demat accounts, you should select the option for off-market transfer of shares to your other account as the shares in this account will be frozen once closed. It normally takes two working days to transfer the existing financial holdings to other Demat accounts.