Top 10 Best Demat Account in India 2022 – Review & Comparison

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A Demat account was created to eliminate the time-consuming and inconvenient procedure of purchasing and selling shares through the paperwork. The term ‘dematerialization’ is denoted by the term ‘demat’. A Demat account dematerializes shares and securities, allowing them to be held electronically and exchanged digitally from any location. It also decreases the danger of fraud or theft associated with paperwork-based transactions.

To limit the danger of fraud, search for a well-established Demat account provider. Furthermore, high-quality market analysis tools or expert trading suggestions can be incredibly beneficial.

According to a study released by Livemint.com on May 9, 2021, the Fiscal Year 2021 (April 2020 – January 2021) saw the addition of 10.7 million new Demat accounts in India, compared to 4.7 million in the Fiscal Year 2020 and roughly 4 million in the Fiscal Year 2019.

FAQs:

What’s the use of having a Demat account?

Answer: It ‘dematerializes’ the securities or shares you own. It allows you to own assets in electronic form and trade with them digitally, eliminating the need for time-consuming documentation.

Is it possible to close the Demat account?

Answer: Yes, if you aren’t utilizing your Demat account, it’s best to close it rather than pay unnecessary maintenance fees.

To cancel your account, you must download the application from the relevant website, complete it, and present it in person, along with the KYC documents, to the nearest branch of your Depository Participant, clearly indicating the reason for the account closure.

Is it possible to purchase stocks without a Demat account?

No, you won’t be able to buy shares without a Demat account. This is because the Securities and Exchange Board of India (SEBI) issued an order in 1996 stating that all investors who want to trade stocks or shares must have a Demat account.

The extensive paperwork involved in purchasing and selling shares, as well as the high number of frauds that occurred previously, were the driving forces behind this decision.

1. Upstox

Upstox demat account
Upstox is the best option for avoiding expensive brokerage costs.

Demat Account at Upstox
With a Upstox Demat Account, you can trade stocks, mutual funds, digital gold, futures, and more using a digital account. The software also assists you in making smarter judgments by offering market data in the form of charts.

Highlights include:

  • Demat account that is paperless and digital.
  • Get real-time updates on the trading market.
  • You’ll just need one account to handle and track your stocks and mutual funds.
  • It’s a simple method to open a bank account.
  • Permits you to buy and sell digital gold.

Pros:

  • Investing with no commissions.
  • You can begin investing with as little as one rupee.
  • You can buy and sell from anywhere in the globe.

Cons:

  • Some users have reported problems as a result of large market changes.

Upstox is one of the most secure trading apps available. Upstox offers zero-commission trading, which is a significant benefit.

4.4 out of 5 stars on Android (2 Lakh ratings)

1,000,000+ Android Downloads

4.3 out of 5 stars on iOS (8.9k ratings)

Price:

  • Investing in equities, mutual funds, and digital gold has no commission.
  • For all Intraday & F&O, Currencies & Commodity Orders, 0.05 per cent or up to rupees 20.

VISIT UPSTOX WEBSITE >>

 

2. HDFC Securities Demat Account

HDFC Securities Demat Account

This is the best option for an offline advice feature.

Demat Account with HDFC Securities

HDFC Securities Demat Account is a 20-year-old trading services provider that authorizes you to trade digitally, saving you time and effort in the procedure.

Highlights include:

  • Margin trading refers to the procedure of trading
  • Tools for market research
  • Exchange currencies, commodities, initial public offerings (IPOs), stocks, mutual funds, and more.
  • Global investment opportunities are available.
  • Place orders over the phone.

Pros:

  • Customer service is available 24 hours and all 7 days
  • Stocks to buy in the United States
  • Instruments for market research
  • Portfolio management tools

Cons:

  • In comparison to the alternatives, there are high Demat Account management fees.
  • There will be no commodity trading.

Why are you interested in this app?
HDFC Securities Demat Account is a one-stop-shop for all of your trading needs. You can trade Indian and international equities, as well as get customer service 24 hours a day, seven days a week.

4.3 out of 5 stars on Android (79 trillion ratings)

The number of Android downloads has surpassed ten million.

3.7 out of 5 stars on iOS (3.7k ratings)

Price:

  • Annual plans start at Rs. 1500 and go up to Rs. 1,00,000.

Website: HDFC Securities

3. ICICI Direct Demat Account

ICICI Direct Demat Account
Best for providing a three-in-one account.

The ICICI Direct Demat Account is a digital platform that allows you to invest in both the domestic and worldwide markets. You can trade stocks, mutual funds, fractional shares, and a variety of other assets.

Highlights include:

  • Allows you to trade stocks, mutual funds, currencies, initial public offerings (IPOs), commodities, and more.
  • Get market research and market insights.
  • Material for learning.
  • Invest in global market fractional shares.
  • Get a three-in-one account that includes banking, trading, and a Demat account.

Pros:

  • Shares that are fractional.
  • There is no requirement for a least balance.
  • Invest in international stocks.

Cons:

  • Small investors face high brokerage fees.

Why are you interested in this app?
ICICI Direct Demat Account provides market knowledge to assist you in investing, as well as the ability to trade fractional shares of the worldwide market.

Ratings: 2.7/5 stars on Android (25 trillion ratings)

iOS Ratings: 1.8/5 stars + Android Downloads: 10 Lakh (889 ratings)

Price:

  • The rate of return on margin funding begins at 8.9% per year.
  • Brokerage fee of 35 rupees per order

Website: ICICI Direct

4. Zerodha

 Zerodha Demat Account

The best tools for market research.

Demat Account with Zerodha –

With over 5 million customers, Zerodha is India’s best Demat account. It provides you with a trading and depository account, as well as market data and comprehensive charting to assist you in making informed investment decisions.

Highlights include:

  • To aid you in trading, market research data and advanced charts are available.
  • You may learn about trading with the Zerodha Varsity smartphone app.
  • You can create your trading platform using this tool.
  • You can trade mutual funds directly through the Coin by Zerodha app.

Pros:

  • Tools for market research that are of high quality.
  • You have the option of creating your own trading platform.
  • Fees that are reasonable.
  • App for learning.

Cons:

  • Account opening fees are 200 rupees.

Why are you interested in this app?
Zerodha offers all you need in a Demat account. The market research instruments are commendable. It’s also a good idea to have a separate learning app.

Android users have given it a rating of 4.2 out of 5 stars (2 Lakh ratings)

The number of Android downloads has surpassed 50 million.

3.3 out of 5 stars on iOS (1.7k ratings)

Price:

  • For equities delivery, there are no brokerage fees.

Website: Zerodha Demat Account

5. Angel Broking

 angel broking demat account
Angel Broking opened its Demat Account in 1987. It provides you with the necessary research tools for investing your hard-earned money. You can trade stocks, mutual funds, futures and options, currencies, commodities, and initial public offerings (IPOs).

Highlights include:

  • Provides you with a diverse set of trading possibilities.
  • You do not have to provide your personal information for each purchase.
  • The entire account opening process is done online.
  • Both English and Hindi versions are available.
  • Have your portfolio managed by professionals.
  • Obtain a pre-made portfolio.

Pros:

  • On all segments, there is no brokerage.
  • For the rest of your life, you’ll get a free equity delivery trade.
  • Investment of an amount of a per cent.
  • Curated portfolios that are ready to go.
  • For the initial year, there are no account management fees.

Cons:

  • According to reports, the customer service is not up to par.

Why are you interested in this app?
Beginners who want their portfolio managed by experts may find Angel Broking Demat Account to be a decent solution. You can invest in fractional shares if you just have a small quantity of money to invest.

4.2 out of 5 stars on Android (2 Lakh ratings)

1,000,000+ Android Downloads

3.5 out of 5 stars on iOS (14k ratings)

Price

  • Free equity delivery trades for the rest of your life.
  • Intraday, Futures and Options, Commodities & Currencies: flat rupee20 or 0.25 per cent (whichever is lower) per executed order.
  • Charges for account administration on a monthly basis are rupees twenty (Free for the first year).

Website: Angel Broking

6. Axis Direct Demat Account

Axis Direct demat account

Beginners who want to understand the fundamentals of trading should use this platform.

Over 2 million clients trust Axis Direct Demat Account. They provide you with a variety of investment choices as well as effective market research tools to aid you in your decision-making.

Highlights include:

  • Banking, trading, and Demat all in one account.
  • Getting advice from professionals in the field of research.
  • Allows you to trade stocks, mutual funds, bonds, derivatives, ETFs, and other financial instruments.
  • Webinars, online courses, and expert articles are all examples of educational resources.

Pros:

  • For the first year, there are no account maintenance fees.
  • Experts conducted market research, which was made available for free.
  • Beginner’s educational resources.

Cons:

  • Non-Axis Bank customers face exorbitant account management fees.

Why are you interested in this app?
Axis Direct’s 3-in-1 account includes free-market analytics insights from specialists as well as learning tools for beginners.

  • 3.1 out of 5 stars on Android (25 trillion ratings).
  • The number of Android downloads has surpassed ten million.
  • 2.7 out of 5 stars on iOS (1.1k ratings)

Price:

  • Axis bank users pay rupee 750 each year in account maintenance fees (Free for the first year).
  • Non-Axis Bank customers pay rupee 2500 per year in account maintenance fees.
  • Brokerage fee of rupees 20 per executed order.

Website: Axis Direct Demat

7. Groww App

Groww App Demat Account open
It is a new brokerage firm that offers one of India’s best Demat Accounts.

Groww began as a platform for investing in mutual funds. However, it has now expanded its horizons to include additional asset classes.

Highlights include:

  • Direct mutual funds with no commissions.
  • The utmost commission per trade is Rs 20.
  • Online account opening is instantaneous and paperless.
  • Customer knowledge is raised through interesting and educational blogs and eBooks.
  • Switching from an external regular mutual fund to a direct mutual fund is a feature.
  • It also offers stock investments in the United States, as well as digital gold and corporate FDs.

Pros:

  • Ample investment options.
  • No account opening charges.
  • No annual maintenance charges.
  • A lot of learning resources.
  • Access your portfolio and trade with mobile trading applications anywhere.
  • Single account for all related activities.

Cons:

  • There are only a few investment options available, and there is no option to trade commodities or currencies.
  • There are no Call and Trade services accessible.
  • Don’t give stock recommendations, research reports, or stock advice.
  • There is no branch support.
  • Trading on margin is not an option.
  • Against stocks, there is no margin.
  • BO, CO, AMO, and GTT order types are not accessible.
  • Trailing stop-loss orders are not supported by the Groww app.
  • Non-resident Indians should not be served (NRIs).
  • There are no initial public offerings (IPOs) for small firms.

Prices:

  • For equities, an investor must reimburse brokerage fees, Demat fees, and other regulatory fees such as STT, exchange transaction fees, GST, and Stamp Duty.
  • Deliveries of equity that are less than Rs 20 or 0.05 per cent of the transaction value.
  • Intraday equity – less than Rs 20 or 0.05 per cent of the trade value.

Website: Groww App Demat

4.4 out of 5 stars on Android (ratings)

245,058+ Android Downloads

4.5 out of 5 stars on iOS (7.1k ratings)

8. Paytm Money

Paytm Money Demat Account open
Paytm Money (broking & investing platform) was launched in 2019 with the lowest flat Rs. 10 intraday trading charges in equity cash, equity F&O, and currency F&O.

Paytm has 60 million users who use it to invest in equities, mutual funds, NPS, IPOs, and ETFs. Paytm’s fee’s structure is similar to discount brokers.

If you want the lowest brokering changes, you can open a Paytm Money Demat account.

Highlights Include (Brokerage Fees on Paytm)

  • Trust of 20 million investors.
  • Rs. 0.01 for delivery trades (1 paisa per order).
  • Intraday transactions — for both legs, Rs. 10 or 0.05 per cent of turnover, whichever is smaller.
  • For F&O traders, the commission is Rs. 10 or 0.02 per cent of turnover, whichever is smaller.

Pros:

  • 2-FA Authentication.
  • Fingerprint and PIN Protection.
  • Real-time market information.
  • Advanced charts, indicators and drawing tools.

Cons:

  • Charges for digital KYC are Rs. 200.
  • Platform fees of Rs. 300.
  • Option to trade commodities is not available.

Prices:

  • Platform fees are Rs. 300 per year.
  • Charges for digital KYC – Rs. 200 one-time fees.
  • Charges for call and trade orders are Rs. 300 per completed order.
  • Net banking payment gateway charges are Rs. 10. Using the Unified Payments Interface (UPI), you can send and receive money for free.

Website: Paytm Money

Android users have given it a rating of 4.1 out of 5 stars (1 Lakh rating)

The number of downloads has surpassed 1 Crore.

4.6 out of 5 stars on iOS (37.3k ratings)

9. 5Paisa

5Paisa Demat Account open
This is the best option for novices.

Because of the services that it provides to its consumers, 5Paisa Demat Account can be referred to as the best Demat account. It offers a variety of trading alternatives, as well as market research, learning, and portfolio analysis tools.

Highlights include:

  • You may trade mutual funds, gold, commodities, US equities, and more with this platform.
  • Tools for market research.
  • Tools for portfolio analysis.
  • Through simple classes, you can learn about the market.
  • Allows three people to open a combined Demat account.

Pros:

  • There are no costs for investing in mutual funds.
  • Learning aids.
  • Market research is a significant part of every business.
  • Tools for portfolio analysis.

Cons:

  • During busy trading hours, there are server difficulties.
  • Calling is a costly method of trading.

Why are you interested in this app?
Anyone who desires a wide range of trade-in possibilities may consider a 5Paisa Demat Account. The key draws are the market research tools and portfolio analysis functions.

Android users have given it a rating of 4.2 out of 5 stars (2 Lakh ratings)

The number of Android downloads has surpassed 50 million.

4 out of 5 stars on iOS (10.5k ratings)

Price: 

  • Brokerage fees of rupees 20 per order (Stocks, Commodities, Currencies).
  • On mutual funds, there is a rupee0 commission.
  • The monthly cost of a Power Investor pack is Rs. 499.
  • The cost of an Ultra Trader bundle is Rs.999 per month.

Website: 5Paisa

10. Kotak Securities Demat Account

Kotak Securities Demat Account open
Over 20 million people use Kotak Securities Demat Account. It provides you with a three-in-one account, market analysis tools, and trading advice.

Highlights include:

  • Market research and suggestions.
  • Your Savings, Trading and Demat accounts are all integrated into one account.
  • Margin trading is a technique of trading with a little amount of money.
  • Build a low-cost portfolio by investing in tiny cases.

Pros:

  • Market research.
  • Three-in-one account.
  • Small investors benefit.
  • Global investment.

Cons

  • Brokerage fees are exorbitant.

Why are you interested in this app?
Because of the learning resources and the option to invest in small cases, Kotak Securities may be an appropriate solution for people who want to invest with a small amount of money or for beginners.

4.1 out of 5 stars on Android (2 trillion ratings)

1,000,000+ Android Downloads

2.5 out of 5 stars on iOS (1.2k ratings)

Price:

  • Intraday traders have a rupee0 brokerage.
  • Carrying forward F&O trades costs rupees 20 for each order.
  • Charges of 0.25 per cent for equity and commodity delivery.

Website: Kotak Securities

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