Best Demat Accounts In India: While the textbook definition of a demat account is the ability to buy and sell securities, traders, and investors today want to be able to do much more than that.
The competition to gain market dominance over the brokerage industry in India has led to an outburst of fintech startups offering different types of investment and trading services, from portfolio backtesting, strategy building, and portfolio management all the way to investment advisory services.
Table of Contents
What Is a Demat Account? – Meaning & Importance
A Demat account is a digitized security vault, where the account holder can buy, sell, trade, and store securities in the form of digital assets. Any participant who wants to trade and/or invest needs to have a Demat account.
Demat accounts allow you to trade and hold securities in a digital form, taking away the risk of theft and loss, and increasing transparency between exchanges, companies, and their shareholders.
Importance Of Demat Account:
- Transparency
- Security from risks related to physical certificates.
- Easy Tracking of holdings
- Elimination Of Risks such as physical damage, theft, or loss.
- Automated and seamless for rights, bonuses, dividends, adding beneficiaries, etc.
5 Best Demat Accounts In India
Here are the top 5 best Demat accounts in India:
Best Demat Accounts In India #1 – HDFC Sky
HDFC SKY is a comprehensive investment platform offered by HDFC Securities, enabling you to invest in a range of financial instruments, including mutual funds, stocks, IPOs, futures and options, currency, and commodities. The platform features a user-friendly mobile app with a simple interface, educational tools, real-time updates, and secure transactions to help users confidently navigate the complexities of investing. Whether you want to open demat account or manage your investments, HDFC SKY provides a robust solution. It also supports seamless management of your Demat account, making it easier to achieve your financial goals.
Key features of HDFC SKY include:
- Managing all assets: Mutual funds, stocks, IPOs, F&O, currency, commodity all in one app
- Investing in 2000+ mutual funds, 3500+ stocks and 100+ ETFs with ease
- Buy Stocks Pay Later (BSPL): BSPL feature that provides up to 4x margin at an MTF of just 1% p.m.
- Cost-effective: Pricing at just ₹20/order per trade
- Advanced option chain tools: It has tools like PnL analyser, Options Greeks, Predict view for data-backed derivatives trading
- Daily recommendations: In-house research team with 20+ years of expertise help you make informed decisions
- Quick IPO: Applications with instant mandate creation using UPI
Best Demat Accounts In India #2 – Zerodha
Presently Zerodha is the number one demat account and brokerage firm in India, having the largest trading volume by any single broker in the country. The brokerage has an account opening charge of ₹200 and an annual maintenance fee of ₹300.
It provides the option of 3-in-1 accounts, which means investors can use it to store securities, trade, and as a savings account for funds. Zerodha allows users to trade, invest and pledge securities for margins as well. This includes stocks, ETFs, mutual funds, IPOs, etc.
Features:
- Provides you with advanced charts, and helps you in trading and market research.
- Has its own learning app called Zerodha Varsity that helps you learn trading.
- Mutual funds can be traded directly through the Coin by Zerodha app.
Following are the brokerage charges levied by Zerodha:
| Segment | Brokerage Charges |
|---|---|
| Equity Intraday | Rs 20/order or 0.03% whichever is lower |
| Equity Delivery | No Brokerage |
| Equity Futures | Rs 20/order or 0.03% whichever is lower |
| Equity Options | Rs 20/order |
| Currency Futures | Rs 20/order or 0.03% whichever is lower |
| Currency Options | Rs 20/order or 0.03% whichever is lower |
| Commodities | Rs 20/order or 0.03% whichever is lower |
Best Demat Accounts In India #3 – Shoonya
Shoonya offers the best demat and trading account in India, providing a zero-commission, multi-asset trading and investing platform. With zero brokerage on equity delivery, IPOs, mutual funds, and bonds, Shoonya offers an unbeatable value.
Trade seamlessly across major exchanges like NSE, BSE, MCX, and NCDEX, covering Equities, Futures, Options, and Currency Derivatives. Leveraging AI, Shoonya ensures unbiased insights, transparency, and smarter investment decisions, making it the top choice for traders and investors.
Key Features:
- No commission on equity delivery, IPOs, mutual funds, and bonds.
- Trade across Equities, Futures, Options, and Currencies on NSE, BSE, MCX, and NCDEX.
- AI-powered unbiased insights for smarter investment decisions.
- 16+ zero-fee features, including free account opening, zero maintenance, and no upfront charges.
- Designed for accessibility, offering a smooth, all-in-one interface.
Click Here to open demat account with Shoonya.
Best Demat Accounts In India #4 – Upstox
Among the rising firms in the brokerage business is Upstox. Similar to Zerodha, they provide a 3-in-1 account with storage, savings, and trading features, with the main difference being there are no account opening charges and no annual maintenance fees.
Like most top brokers, Upstox provides equity, derivatives, commodity, and currency trading options. Besides that, they also provide investing options in equity, mutual funds, gold, and IPOs.
Features:
- You’ll just need one account to manage and track your stocks and mutual funds.
- It lets you buy and sell digital gold.
- You can trade from any location in the world.
Following are the brokerage charges levied by Upstox:
| Segment | Brokerage Charges |
|---|---|
| Equity Intraday | Rs 20/order or 0.05% which ever is lower |
| Equity Delivery | No Brokerage |
| Equity Futures | Rs 20/order or 0.05% which ever is lower |
| Equity Options | Rs 20/order |
| Currency Futures | Rs 20/order or 0.05% which ever is lower |
| Currency Options | Rs 20/order or 0.05% which ever is lower |
| Commodities | Rs 20/order or 0.05% which ever is lower |
Best Demat Accounts In India #5 – blinkX By JM Financial
blinkX is a modern investing app by JM Financial that offers unlimited trading on NSE F&O, intraday equity, and delivery. With over 50 years of experience, it simplifies trading for users with an easy-to-use interface.
It offers multiple zero brokerage unlimited trading plans starting from ₹249 for 2 months, ₹599 for 6 months and ₹899 for 12 months.
Key Features of blinkX App:
- Watchlist: Rotate your watchlist and monitor stocks using technical indicators, heat maps, and options lists. Trade easily.
- Dashboard: Customize your trading space with widgets and access all indexes easily.
- Scanners: Find stocks based on indicators, futures, and options stats.
- Research: Get daily calls categorized by long-term, short-term, and mid-term; trading in one click is easy.
- Portfolio Insights: See how your investments are doing instantly, organized by sector.
- Manage your holdings: Utilize dedicated CNC stocks, ensure clear distinction from MTF stocks, and easily categorize cash and MTF stocks for better investment strategy organization.
- Other Services: Get 70+ reports on WhatsApp, live Chat for help, and Dedicated RM.
The blinkX App is available for both Android and IOS users.
Subscription Details:
The subscriptions starting from ₹249 for 2 months, ₹599 for 6 months and ₹899 for 12 months. They last for 2, 6 and 12 months respectively from the day you open your account.
Following are the brokerage charges levied by blinkX:
| Segment | Charges |
|---|---|
| blinkX Brokerage Charge on Equity/Cash | |
| Equity Delivery | ₹0 |
| Equity Intraday | ₹0 |
| blinkX Brokerage Charges on FNO and Currency | |
| NSE Futures | ₹0 |
| NSE Options | ₹0 |
| Currency Futures | ₹0 |
| Currency Options | ₹0 |
| Other Charges | |
| Research Subscription | ₹0 |
✅ Open your Demat Account now – blinkX by JM financial 👉
Bonus: Other Best Demat Accounts In India
6. Angel One:
Previously known as Angel Broking Ltd, Angel One is a listed broker, in operation since 1996, making them one of the oldest brokers in the Indian market. The company is listed on both exchanges- NSE and BSE. Like most of the demat accounts on our list, Angel One provides a 3-in-1 account for all your investment and trading requirements. The firm charges ₹20 per order for intraday, futures and options, currency and commodity, and zero brokerage on equity delivery. Account maintenance is free, but only for the first year.
Features:
- Lets you Invest in the global market.
- Lets you freeze the demat account for a certain period
- Can avail loans by pledging shares
Following are the brokerage charges levied by Angel One:
| Segment | Brokerage Charges |
|---|---|
| Equity Intraday | ₹ 20 / Executed Order Or 0.25% (Whichever Is Lower) |
| Equity Delivery | 0 |
| Equity Futures | ₹ 20 / Executed Order Or 0.25% (Whichever Is Lower) |
| Equity Options | ₹ 20 / Executed Order Or 0.25% (Whichever Is Lower) |
| Currency Futures | ₹ 20 / Executed Order Or 0.25% (Whichever Is Lower) |
| Currency Options | ₹ 20 / Executed Order Or 0.25% (Whichever Is Lower) |
7. ICICI Direct:
While private firms slowly rose in the brokerage industry, banks haven’t sat quietly either. ICICI Direct, the investing services arm of ICICI Bank, is taking on the major brokers in India with attractive offers over its broker-only counterparts in the space.
For instance, their 3-in-1 account isn’t just a savings account, but an actual bank account with ICICI Bank. Besides stocks, F&O, IPOs, and mutual funds, investors can also invest in life insurance as well.
ICICI Direct is a full-service broker, meaning they also provide investment advisory services to their clients, which include domestic citizens as well as NRIs. The broker offers a free trading account and an offer of ₹7 per order on trades through their various brokerage plans.
Features:
- Invest in fractional shares on the global market.
- Provides market insight and market research.
- No minimum balance requirement.
1) Secure Plan:
A Fixed proportion of brokerage is payable regardless of quarterly turnover.(Total traded value)
| Turnover per Quarter | Delivery Brokerage | Intraday Brokerage |
|---|---|---|
| NA | 0.55% | 0.28% |
2) Saver Plan:
The brokerage will vary based on the turnover per quarter. The higher the turnover, the lower will be the brokerage slab.
| Turnover per Quarter | Delivery Brokerage | Intraday Brokerage |
|---|---|---|
| Rs 5Cr.+ | 0.250% | 0.125% |
| Rs 2 Cr. to 5 Cr. | 0.300% | 0.150% |
| Rs 1 Cr. to 2 Cr. | 0.350% | 0.175% |
| Rs 50 lakh to 1 Cr. | 0.450% | 0.225% |
| Rs 25 Lakh to 50 Lakh | 0.550% | 0.275% |
| Less than 25Lakh | 0.750% | 0.375% |
| Turnover per Quarter | Delivery Brokerage | Intraday Brokerage |
| Rs 5Cr.+ | 0.25% | 0.125% |
| Rs 2 Cr. to 5 Cr. | 0.30% | 0.15% |
| Rs 1 Cr. to 2 Cr. | 0.35% | 0.175% |
| Rs 50 lakh to 1 Cr. | 0.45% | 0.225% |
| Rs 25 Lakh to 50 Lakh | 0.55% | 0.275% |
| Less than 25Lakh | 0.75% | 0.375% |
3) Pre-Paid brokerage Plan
You pay upfront brokerage to avail the reduced brokerage slabs. Each will have validity period and the paid is lost if not consumed within that period.
3) Pre-Paid brokerage Plan
You pay an upfront Brokerage which will be reduced as per the slab for every trade. This pre-paid amount will have a validity period and the amount will be lost if it is not consumed within the period
| Upfront Brokerage | Delivery Brokerage | Intraday Brokerage |
|---|---|---|
| Rs 10,000 | 0.450% | 0.045% |
| Rs 25,000 | 0.350% | 0.035% |
| Rs 50,000 | 0.300% | 0.030% |
| Rs 75,000 | 0.250% | 0.025% |
| Rs 1,00,000 | 0.200% | 0.020% |
| Rs 2,00,000 | 0.150% | 0.015% |
| Rs, 3,00,000 | 0.120% | 0.012% |
Quick link to open an account with ICICI Direct
In Closing
As we went through the top 5 demat accounts in India, we got to explore all the unique and common features of the most popular investment and trading platforms today.
Picking any one of them and regarding it as the best is a personal preference, conditional upon the type of account you need – Investment account, trading account, Foreign stocks, passive investing for mutual funds – the options are endless.
But whatever your requirement may be, there are enough choices to see before making a decision. We hope this article helped you in picking the right and best demat account for you.
Written by Aaron Vas
By utilizing the stock screener, stock heatmap, portfolio backtesting, and stock compare tool on the Trade Brains portal, investors gain access to comprehensive tools that enable them to identify the best stocks also get updated with stock market news, and make well-informed investment decisions.
