I opened my first Demat account in 2006 after getting my first job because I wanted to invest 20% of my salary in the stock market.
I had no knowledge of stock investing at that time so I thought brokers like ICICI or Sharekhan would help me pick the right stocks.
Opening an account with ICICI was easy because I was having a salary account with ICICI bank. They started sending me tips on stock trading and investing.
I kept on buying and selling as per their recommendation but later I realized that I am losing a lot of money in the brokerage because ICICI was charging as high as 0.5% on my trades.
I switched to Sharekhan to save brokerage but they were also charging 0.1% on the buy/sell transactions.
I came to know about discount broker Zerodha in 2015 that was charging ZERO on stock delivery and flat Rs. 20 per transaction for day trading.
In the last 2-3 years, many companies have started offering demat & trading services at flat rates. New companies waive off account opening fees and also offer some additional perks.
If you buy stocks worth Rs. 1,00,000 then you would pay approx 500 Rs.+ taxes to ICICI but the same you can buy at zero charges + govt fees + taxes from discount brokers like Zerodha, Upstox and 5Paisa.
Our Top Picks For Best Demat & Trading Account in India 2021
Fix brokerage of Rs 20 per trade.
Upstox Demat & Trading
Fix brokerage of Rs 20 per trade.
Lowest fixed brokerage of Rs.10 per trade.
Every broker has some advantages and disadvantages. Discount brokers focus on improving their trading platforms while full-service brokers focus on improving customer service.
Your experience with discount broking customer service may not be good but you would save a lot of money in brokerage.
Here is the list of the top 11 best Demat account in India 2021
- Zerodha Demat Account – Best discount broker in India
- Upstox Demat Account – Great for an alternative to Zerodha
- Paytm Money Demat Account – Lowest brokerage of Rs 10 per trade
- 5paisa Demat Account – Best for no AMC for only traders
- IIFL Demat Account – Great for first year free
- Angel Broking – Great brokerage plan from full-service broker
- Sharekhan Demat Account – offers a wide range of financial products
- Religare Demat Account – Great for lifetime free AMC option
- Motilal Oswal Demat Account – Great for financial services
- ICICI Direct Demat Account – Good for ICICI account holders
- HDFC Security Demat Account – Option for HDFC account holders
Best Demat Account With Lowest Brokerage in India 2021
#1. Zerodha Demat Account Review
Zerodha is the largest and most trusted discount broker with a user base of more than 30 Lakh. The biggest reason for Zerodha’s success is its customer support which is better than all other discount brokers.
Zerodha charges a lower brokerage fee of 0.03% or Rs. 20 per executed order whichever is lower. You can save up to 90% as compared to other full-service stockbrokers if you trade in high volumes. The stock delivery trade is free at Zerodha.
You will get the trading platforms with advanced charts and other tools for better technical analysis with Zerodha.
Why Zerodha is at #1
- Most trusted broker in India
- Fix Rs. 20 per trade on intraday trades
- Zero brokerage on the stock delivery
- Good customer support
- Best charts and tools for technical analysis
- Demat & trading account opening charges – Rs 200
- Commodity account opening charges – Rs 100
- Annual maintenance charges – Rs 300 per year
Zerodha Brokerage Charges
- Equity Delivery- zero brokerage
- Equity Intraday- 0.03% or Rs 20 per executed order whichever is lower
- Equity Futures- 0.03% or Rs 20 per executed order whichever is lower
- Equity Options- flat Rs 20 per executed order
Zerodha Trading Platforms
- Zerodha Kite 3.0 – A complete trading solution for the investors and traders that provides streaming price data, multi-market access, advanced charts and simple UI.
- Kite by Zerodha Mobile App – A mobile app version of Kite 3.0 for a seamless trading experience, especially for the young generation (Android/iOS) smartphone users.
- Zerodha Coin – A platform that lets you buy direct mutual funds online without paying any commissions.
Key Benefits of Zerodha
- Delivery is totally free. No brokerage on delivery.
- No minimum cap of brokerage per transaction.
- Maximum brokerage charge capped to Rs 20 irrespective of transaction volume.
- Provide a margin from 4 to 15 times.
#2. Upstox Demat & Trading Account Review
Upstox is one of the best discount brokers in India due to cheap brokerage charges, advanced technology platforms, and high margins.
Upstox charges a fixed brokerage of Rs. 20 per trade for intraday irrespective of the trading volume with free stock delivery. You can save a good amount in brokerages when compared to other full brokers.
You will get the fastest & best online trading platform in India with Upstox which is the main requirement for trading.
Why Upstox is at number #2
- Get free brokergae credit of Rs 1000
- Rs. 20 per trade for equity delivery
- Zero stock deliver brokerage
- Fast account opening process
Upstox Limited Time offer
- Prepaid Brokerage worth Rs 1000 valid for 7 days
Upstox Account Regular Fee & Charges
- Upstox Demat and Trading Account Opening – Free (limited time offer)
- Upstox Annual Maintenance Charges – Rs. 25 per month
Upstox Trading Brokerage Charges
|Equity Delivery||Rs. 0|
|Equity Intraday||Lower of Rs. 20 per executed order or 0.05%|
|Equity Futures||Lower of Rs. 20 per executed order or 0.05%|
|Equity Options||Rs. 20 per executed order|
|Currency Futures & Options||Lower of Rs. 20 per executed order or 0.05%|
|Commodity F&O||Lower of Rs. 20 per executed order or 0.05%|
Advantages of Upstox Trading Account
- No brokerage charges for delivery
- Great trading platforms
- Fix & low brokerage irrespective of trade volume
What We Didn’t Like
- You cannot make the investment to IPO and FPO
#3. Paytm Money Demat Account Review
Paytm launched – Paytm Money (broking & investment platform) in 2019, with the lowest flat Rs. 10 charges for intraday trading in equity cash, equity F&O and currency F&O.
60 lacs users trust Paytm money for investments in stocks, mutual fund investment, NPS, IPOs and ETFs. Paytm money fees structure is similar to discount brokers.
You can open Paytm Money Demat account if you are looking for the lowest brokering changes.
Paytm Brokerage Charges
- Delivery Trades – Rs. 0.01 (1 paisa per order)
- Intraday trades – Rs. 10 or 0.05% of turnover whichever is less for both legs
- F&O trades – Rs. 10 or 0.02% of turnover whichever is less for both legs
Paytm offers Demat AMC for – Rs. 0. As compared to a minimum of Rs. 200 at other stockbrokers. But you need to pay Rs 300 annually for the trading platform fee.
But you need to pay additional charges like –
- Annual Platform fees – Rs. 300 annually
- Digital KYC charges – Rs. 200 one time
- Call and Trade order charges – Rs. 300 per executed order
- Payment gateway charges – Netbanking – Rs. 10. UPI – Rs. 0
USP of Paytm Money Demat cum Trading Account
- Rs. 0 delivery charges (1 paisa per order)
- One of lowest flat Rs. 10 brokerages on trading
The account opening is hassle-free, paperless, and online. You need to download the Paytm money app from Google Playstore or the Apple store to complete KYC.
Paytm Money Platforms
- Mobile trading app
- Web Browser trading platform
Both the platforms are secured using 2-FA authentication, fingerprint and PIN protection. You can access real-time market information on top gainers, losers and sector-wise indices. Use advanced charts, indicators and drawing tools.
What I Didn’t like –
- Rs. 200 for digital KYC charges
- Rs. 300 platform charges
- Commodity trading option unavailable
#4. 5Paisa Demat Account Review
5Paisa charges the lowest brokerage charges of flat Rs 10. per trade under the addon Ultra Trader pack. You can place a single trade worth crores and pay brokerage of just Rs 10 per trade.
The Ultra trader pack comes with a monthly price of Rs. 999. Without the pack, 5Paisa charges a flat brokerage fee of Rs. 20 per executed order.
You can use a 5Paisa mobile trading app for trading. 5Paisa mobile app is the best mobile app in India in terms of easy usability, user experience, and fast speed.
You would get your 5Paisa account opened on the same day on submitting all the documents. If you are looking for the lowest brokerage demat account, then you go with 5Paisa.
Why 5Paisa is at #3
- Lowest brokerage charges of Rs 10 per trade
- Zero brokerage on delivery
- Fastest account opening process
- Offers the best trading app with easy to use.
5Paisa Annual Charges Details
5paisa offers an All-in-one investment account with 2 different addon packs
- Research & Idea Pack – Rs. 499 per month. Brokerage Rs. 20 per trade and AMC Rs. 45 per month.
- Ultra Trader Pack – Rs. 999 per month. Brokerage Rs. 10 per trade and NIL AMC charges.
You need to pay maintenance charges only for the traded month under the Research & Idea pack.
5paisa account opening is FREE.
Margin provided by 5Paisa
|Trading Segment||Research & Idea Pack||Ultra Trader Pack|
|Equity intraday buy||Upto 20x||Upto 20x|
|Equity intraday sell||Upto 10x||Upto 10x|
|Equity Options – long||1x||1x|
|Equity Options – short||3.5x||4x on normal days,|
6x on expiry days
|Currency Options||Long – 1x|
Short – 3x
|Long – 1x|
Short – 3x
|Commodity Futures||Upto 2x||Upto 2x|
5Paisa Brokerage Charges
5Paisa offers two addon plans – the Research & Idea pack and the Ultra Trader Pack. 5Paisa brokerage charges under different both the pack are under;
|Trading Segment||Research & Idea Pack||Ultra Trader Pack|
|Equity delivery||Rs. 20 per executed order||Rs. 10 per executed order|
|Equity Intraday||Rs. 20 per executed order||Rs. 10 per executed order|
|Equity derivatives||Rs. 20 per executed order||Rs. 10 per executed order|
|Currency derivatives||Rs. 20 per executed order||Rs. 10 per executed order|
|Commodity derivatives||Rs. 20 per executed order||Rs. 10 per executed order|
Note – Under the Ultra Trader pack, the first 100 trades are free every month. From 101st trade, you need to pay a flat fee of Rs. 10 per executed order on all segments.
5Paisa Trading Platforms
- 5Paisa Trader Station Web – 5Paisa is for the low volume traders. The web-based platform gives easy access to portfolio, positions and holdings data.
- 5Paisa .EXE Trader Terminal – The trader terminal is for high volume traders which provide a powerful interface and fast execution. You get a real-time market price, advanced charts with tools and past stock prices.
- 5Paisa App – The app is for trading on smartphones with easy access to markets and a great user experience.
#5. IIFL Demat Account Review
IIFL Securities Ltd (IIFL) is one of the biggest full-service stockbroker with more than 40 Lakh customer. IIFL Demat account is good for investors who need guidance and research support while making investment decisions.
You would need to pay a percentage based brokerage for trading & value investing. IIFL offers 3 different brokerage plan which includes variable brokerage, flat brokerage and value-added brokerage.
IIFL also offers value-added services which includes
- Research advisory
- Market & sector reports & Information
- Options Trading Using Sensibull
- Loan Products (Home, Personal, Gold, Against Property & Business Loan)
- Mutual Fund Investment
- Wealth & Financial Management
- NRI ServicesInstitutional Equities & Investment Banking
You can open IIFL Demat account Free along with zero AMC charges for the first year.
IIFL Account Opening Charges
- Account opening charges – FREE
- First-year annual maintenance charges – FREE (limited time)
- Annual maintenance charges second year onwards – Rs 250
IIFL Brokerage Charges
- Stock delivery – Free
- Intraday, futures & options – Flat Rs 20/trade
Benefits of IIFL Demat Account
- Free account opening & zero first year AMC
- Lower brokerage charges as compared to other full-service brokers
- Research reports on 500+ stocks, sector summary, daily stock tips and recommendations
- Value-added services like IPO & mutual fund investment.
#6. Angel Broking Demat Account
Angel broking is one of the oldest brokerage companies in India having 2.15 million broking accounts.
Angel broking‘s customer care service is up to the mark. I recommend Angel Broking only if your Adhaar Card is linked with your mobile number.
You can complete your entire application online and start trading after validating your identity with Adhaar OTP.
Angel Broking Provided Trading Platforms
- Angel Broking Trade – A web-based platform useful for portfolio tracking and online web trading. The platform provides up-to-date market information and live news. I use Angel Broking trade platform for transactions.
- Angel Broking App – Loaded with ARQ technology for personalized advisory. The app can be used to trade, view current market prices and track your portfolio.
- Angel Speed Pro – An installable software comes with 30 days intraday and 20 years historical data. The platform integrates news flash and gives access to various reports.
- Margin provided up to 10 times of the amount deposit.
- You can start trading within 1 hour through digital KYC.
Account Charges of Angel Broking
- Trading Account Opening Charges – Rs 0.
- Demat Account Opening Charges – Rs 0.
- Annual Maintenance Charges – Rs. 0 for the first year then Rs. 450 per annum.
Check out complete angel broking review.
Best Demat Account for Small Investors
#7. Sharekhan Demat & Trading Account Review
Sharekhan is one of the leading online brokerage company having more than 20 Lakh customer base. Presently the company provides service from 3200 share shops across 541 cities.
Account Charges of Sharekhan account
- Trading Account Opening Charges – Nil
- Demat Account Opening Charges – Nil
- Annual Maintenance Charges – Rs. 400 per annum (1st year free)
|Equity Intraday||0.1% on 1st leg and 0.02% on the 2nd leg|
|Equity Delivery||0.50% (min 10 paise)|
|Equity Futures||0.1% on 1st leg and 0.02% on the 2nd leg|
|Equity Options||Rs 100 per lot or 2.5% on premium ( whichever is higher)|
Benefits of Sharekhan
- NIL account opening charges
- No annual maintenance charge for the first year
- Sharekhan provides online & offline training workshops to investors
- Free call & trade facility
Drawbacks of Sharekhan
- 0.02% brokerage charges on the second leg.
- The brokerage rate is higher as compared to other stockbrokers. But you can negotiate at the time of account opening.
#8. Religare Demat Account Review
Religare Securities Ltd. (RSL) is a wholly-owned subsidiary of the Religare group. RSL is a diversified financial service group, serving more than 8 Lakh customers across both online and offline platforms.
RSL offers broking services in equity, currency and commodity along with depository participant services.
- Demat Account Opening Charges – Nil
- Trading Account Opening Charges – Nil
- Annual Maintenance Charges – Rs. 400.
But there is an account processing charge of Rs. 500.
Note – You can avail of free lifetime AMC by paying either a one-time non-refundable fee of Rs. 1,111 or a refundable fee of Rs. 2,500.
Religare Demat & Trading Account Brokerage Charges
- Intraday Charges – 0.05%
- Delivery – 0.50%
Advantages of Religare Securities Ltd
- Religare securities provide a mobile trading platform to place orders anytime from anywhere.
- Provides facility of investing in equities, derivatives, currency, futures, commodities and mutual funds through a single account.
- Provides intraday reporting and historical charting.
Disadvantages of Religare Securities Ltd
- Rs 10 per offline order with a maximum limit of Rs 50 per day per segment.
- Religare security charges Rs. 999 per annum for using EXE based desktop platform.
You would also like to read – Zerodha vs 5paisa
#9. Motilal Oswal Demat Account Review
Motilal Oswal provides a huge number of services such as private wealth management, retail broking, and distribution, institutional broking, asset management, investment banking, private equity, commodity broking, currency broking, principal strategies & home finance.
Presently the company has more than 2200 business locations with over 10 Lakh registered customers. Motilal Oswal’s solid research-based advice is the reason for such a strong customer base.
They spend Around 10% revenue on research and on hiring & training for research. I do my own research before buying any stocks, so their research calls are not helpful to me.
- Demat Account Opening Charges – Rs 0
- Trading Account Opening Charges – Rs 0
- Annual Maintenance Charges – up to Rs 899 depending on the scheme.
Note – You have the option to pay Rs. 2,500 as one time AMC charges under the lifetime AMC scheme.
Motilal Oswal Brokerage Charges
|Equity Options||Rs. 70 per lot|
Motilal Oswal Trading Platforms
- MO Trader Desktop Trading Platform – A desktop-based platform that needs to installed on your PC or laptop. The system provides access to over 30,000 research reports across all asset classes.
- MO Trader Web Platform – Where trading account can be accessed online easily with any browser on the web
- MO Trader Mobile App – A mobile platform for smartphone users providing real-time data and trade execution.
Benefits of Motilal Oswal
- Award-winning research advisory covering 45 sectors and 80,000+ reports.
- Lots of value-added services like portfolio management services, FD, Gold, US equities & Bond investment
Check out – Zerodha Vs Upstox
Best Bank For Demat Account in India ( 3-in-1 account )
#10. ICICI Direct Demat and Trading Account Review
ICICI direct is one the largest stock brokerage company having more than 20 Lakh customers. ICICI Direct provides a wide range of services and investment options which includes
- Investment in equities, derivatives, mutual funds, IPO, NCD & bonds, ETF and currency.
- Wealth products. ELocker and NPS investment.
- Home loans & loans against securities.
Who Should Apply
- If your trading volume is low then the ICICI Direct account is best for you.
- If you have an existing ICICI saving account and want to invest in IPO and Mutual Funds.
- You will get 3-in-1 account, i.e Saving + Trading + Demat account rolled into one
- The 3-in-1 account offers easy to transfer in and transfer out money.
ICICI offers 3 types of brokerage plans
1) ICICI direct Prime – with access to premium research reports and instant payout through eATM for the shares sold.
|Prime plan in Rs.||Cash||Equity Futures||Equity Options per lot||Currency Futures||Currency Options|
|900||0.25%||0.025%||Rs. 35||Rs. 20 per order & Rs. 2 per lot||Rs. 20 per order & Rs. 2 per lot|
|4,500||0.18%||0.018%||Rs. 25||Rs. 20 per order & Rs. 2 per lot||Rs. 20 per order & Rs. 2 per lot|
|9,500||0.15%||0.015%||Rs. 20||Rs. 20 per order & Rs. 2 per lot||Rs. 20 per order & Rs. 2 per lot|
2) I- Secure Plan – Where a fixed percentage of brokerage of 0.55% is charged on turnover.
3) Prepaid Brokerage Plan – You have to pay prepaid brokerage under this plan. The brokerage rate is lesser as compare to the other two plan. But your money will be locked & not beneficial for seasonal traders or investors to lock their money.
|Prepaid plan in Rs.||Cash||Equity Futures||Equity Options per lot||Currency Futures||Currency Options|
|5000||0.25%||0.025%||Rs. 35||Rs. 20 per order & Rs. 2 per lot||Rs. 20 per order & Rs. 2 per lot|
|12,500||0.22%||0.022%||Rs. 30||Rs. 20 per order & Rs. 2 per lot||Rs. 20 per order & Rs. 2 per lot|
|25,000||0.18%||0.018%||Rs. 25||Rs. 20 per order & Rs. 2 per lot||Rs. 20 per order & Rs. 2 per lot|
|50,000||0.15%||0.015%||Rs. 20||Rs. 20 per order & Rs. 2 per lot||Rs. 20 per order & Rs. 2 per lot|
|1,00,000||0.12%||0.012%||Rs. 15||Rs. 20 per order & Rs. 2 per lot||Rs. 20 per order & Rs. 2 per lot|
|1,50,000||0.09%||0.009%||Rs. 10||Rs. 20 per order & Rs. 2 per lot||Rs. 20 per order & Rs. 2 per lot|
ICICI Direct Account Charges
- Account Opening Charges – up to Rs. 975 depending on scheme
- Annual Maintenance Charges – Rs 700 (1st year free)
ICICIDirect Trading Platforms
- Trade Racer Web – A web-based platform with which you can do all the trading and investing activities. The web platform is accessible from any browser.
- Trade Racer Desktop – Installable trading platform with features like live streaming quotes & research calls and an integrated fund transfer system.
#11. HDFC Security Review
HDFC security limited is a subsidiary of India’s largest private bank HDFC. HDFC securities provide a 3-in-1 account which integrates your saving account, trading account and the demat account.
- Account Opening Charges – NIL
- Account Annual Maintenance Charges – Rs 750 ( free for first year)
HDFC Trading Platform
- HDFC Pro Terminal – Pro terminal is a web-based trading platform with real time market data and features like market analysis and sentiment analysis. HDFC charges Rs. 1,999 for 12 months for the Pro terminal use.
- HDFC Securities Mobile Trading – HDFC mobile platform allows trading in equities and derivatives in just a few clicks using mobile phones.
- Due to integrated accounts, funds can easily transfer from one account to another. Only helpful for HDFC saving account customers.
- HDFC security doesn’t offer commodity trading.
- If you are a new customer to HDFC, then firstly you have to open a savings account.
- Rs. 1,999 charges for using Pro trading terminal
Top 10 Demat Account Brokerage Charges Comparison in India
|Demat Account||Trading Charges||Delivery Charges|
|Zerodha||Rs 20/trade||Rs. 0|
|Upstox||Rs 20/trade||Rs. 0|
|Paytm Money||Rs 10/trade||1 paisa per order|
|5Paisa||20/10 per trade depending on the plan||20/10 per trade depending on the plan|
|Angel Broking||Rs 20/trade||Rs. 0|
|IIFL Securities||0.02% to 0.05%||0.01% to 0.60%|
|Motilal Oswal||0.010% to 0.050%||0.10% to 0.50%|
|Sharekhan||0.1% on 1st leg and 0.02% on the 2nd leg||0.50%|
|ICICI Direct||0.025 to 0.055%||0.09% to 0.55%|
|HDFC Securities||0.10% or min Rs.25 both buy & sell||0.50% or min Rs.25|
A Demat or dematerialised account is where you keep your shares, bonds, mutual funds and ETF in an electronic form.
The Demat account is maintained by National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL). And are available through depository participants (DPs). Most of the stockbrokers also function as DPs.
Demat account is where you store your securities (shares, bonds, ETF and mutual funds) in electronic form.
Whereas, trading account lets you access live NSE & BSE stock markets where you can buy/ sell shares, F&O and other assets like bonds & mutual funds.
If you want to save brokerage charges and decent customer service then I would suggest you open an account with Zerodha.
Visit the website of any of the DPs. Most likely, your existing stockbroker also provides DP services.
If you are new to share trading, then he will ask you to open a Demat cum trading account. You can do so online by –
-Signing on the website by providing an email ID and mobile number
-Apply for Demat cum trading account opening
-Provide details like name, date of birth, PAN
-Upload KYC documents
-Select plan, if any and the trading segment.
If you want to open only a Demat account then –
-Ask for a Demat account opening form
-Fill in the Demat application form
-Upload/ provide KYC details
There is no restriction on the number of Demat accounts that you can open and hold in India.
No, you cannot open more than one Demat account with the same stockbroker on the same person’s name.
If you want to start trading, then I would suggest to open Zerodha account.
The demat account carries AMC charges ranging from Rs. 0 to Rs. 1000. Some stockbrokers offer lifetime free Demat accounts. But you may be required to pay a one-time fee or keep a deposit with them.
You should look at the brokerage charges and AMC charges in combination and then decide on the Demat account.
Yes. You need to fill up the Delivery instruction slip (DIS) available with your stockbroker for the number of shares that you want to transfer.
Your old stockbroker may ask for a Client Master report (CMR) of your new stockbroker. CMR is a certificate with details of your new DEMAT account opened with the new stockbroker.
CMR contains information such as name, address, DOB, bank account, nominations, etc.
Which account are you going to open and why?
I tried to collect all the required information in a single article. Kindly let me know in the comments which account you are opening. For the best experience in trading, Open Zerodha account
if you already have Zeordha account and want to open another account, then open FREE Upstox account
For the lowest brokerage charges, Open FREE Paytm Money account.
Don’t spend much time deciding about the Demat accounts, rather spend more time on learning how can you make money from the share market and trading.