In this internet era, buying shares in physical form is not possible. Now it is mandatory to open a demat account if you want to invest in stocks. There are various demat account providers in India. If you have landed on this page in search of Best Demat account in India, we will not disappoint you.
The brokers offering demat and trading accounts are adopting various strategies to become leader in their own space. Some are concentrating on pricing, few brokers are offering zero brokerage demat accounts.
Few are concentrating on providing excellent customer service. They have setup branches across the country.
Some are investing heavily in developing the state of the art trading platforms.
All in all, read the post to find out best online demat account in India.
What is a Demat Account?
Demat account is used for holding the shares in the de materialized form. Before the online trading is introduced, companies used to issue the share certificates in physical forms.
Physical shares have thier own disadvantages. Now shares are held in electronic forms in demat account. It have multiple advantages over physical certificates.
What are the characteristics of a Good Trading and Demat account?
Following are the features of a prime online trading and demat account.
- Reasonable Brokerage charges
- Initial training and education
- Transparent price list (No hidden costs)
- Superior customer service
But how do we analyses these factors?. By simply checking the online review from the clients of these brokers, Visiting the broker website etc.
So help you out, here we are listing Top 10 demat and trading accounts in India. Visit their websites for more details and confirm all the parameters.
Best Demat Accounts in India – 2019
Lowest Brokerage Demat Accounts – Discount Brokers:
Zerodha is pioneer of discount broking in India. They started their operation year 2000 and went on to become not only top discount broker but biggest stock broker in India. They overtook the likes of ICICI Direct to become No.1 demat account provider of India in terms of highest number of active clients.
They took the risky bet by introducing Zero brokerage for delivery based transaction and it paid in big way. For other types of trades they charge Flat fee of Rs 20/trade
Zerodha Account Opening Charges
Zerodha Brokerage Charges
5Paisa is promoted by India Infoline (IIFL) which is one of the premier full service broker of India. This brokerage firm started operation little late compared to Zerodha (in Year 2016) hence did not have the first to market advantage.
But the advantage in opening demat account with 5Paisa is, one will get research reports and recommendation which normally discount broker wont provide. This is possible because of its parent company IIFL.
5Paisa Account opening Charges
5Paisa Brokerage Charges
Earlier known as RKSV securities, Upstox is another popular discount broker with head quarter at Mumbai. They are the 2nd leading demat account provider.
Their brokerage model is almost same as that of Zerodha. Upstox has trading platform by name Upstox itself and is one of the superior trading platform of India
Upstox Account Opening Charges
Upstox Brokerage Charges
Again TradeSmartOnline is discount broking arm of VNS Capital service Pvt Ltd which is based out of Mumbai and has more than two decades of stock broking experience.
They have two different brokerage models, one is flat brokerage of Rs 15/trade and another is percentage basis of total traded value.
TradeSmartOnline Account Opening Charges
TradeSmartOnline Brokerage Charges
Tradejini is a Bengalutu based discount broker. They offer multiple products under one roof. The best part is they provide one month of free trading across all segments.
One can evaluate their service and trading platforms in this one month without brokerage.
Tradejini also charges Rs20/executed order for all segments.
Tradejini Account Opening Charges
Tradejini Brokerage Charges
Premier Demat Accounts – Full Service Brokers
6. ICICI Direct
ICICI Direct is brokerage unit of ICICIBank. They used to be the top demat account provider of India until Zerodha overtook them.
They introduced online trading to India around year 2000. Supported by its parent bank ICICI Bank, there is a trust built with ICICI Direct.s
It is a 3-in-1 demat account with Trading account, Saving Bank account and demat account all integrated together. It makes transfer of the funds easier and fast.
ICICIDirect Account Opening Charges
Sharekhan is one of the reputed stock broker of India. They started their operation in year 2000. Good thing is they regularly conduct online coursed to educate their customer.
Though brokerage is high, there are different prepaid plans. If you pay the upfront brokerage fees, they brokerage slab gets reduced.
Sharekhan Account Opening Charges
8. Angel Broking
Angel Broking is another major share broker having wide network across India. They have huge physical presence in terms of branches and sub brokers.
They provide 20% discount on online trading. ARQ is artificial intelligence based investment advisor from Angel Broking.
Angel Broking Account Opening Charges
9. Kotak Securities
Kotak Securities is from Kotak Mahindra bank. They provide services in equities, derivative, currency, commodity , mutual funds and IPO. It is based out of Mumbai but has branches across major cities and town of India. They are member of major stock exchanges like NSE, BSE and MCX.
They have two types og brokerage plans. Dynamic and Advanced. In dynamic plan the brokerage slabs gets reduced as you trade more. (In a month)
Kotak Securities Account Opening Charges
10. Religare Broking
Religare is a Depository Participant (DP) with NSDL and CDSL. They have customer base of more than 8Lakhs spread across 550+ locations. One can trade equities, currency, derivatives and commodities.
Their brokerage charges are around 0.5% for delivery and 0.05% for intraday and futures.
Religare Account Opening Charges
Best Demat Accounts in India – Conclusion
There is no single demat account in India which is best for each and every trader/investor. One need to analyze the pros and cons of each broker interms of brokerage, trading platforms and reputation.
But always go with the Top stock brokers registered on the exchanges and you will appreciate the premier demat account provided by them.