Today if you search for the best demat account in India, you would get confused with so many options. In such situation, people choose the easiest way, to approach your savings bank and ask them to open a demat account. Damn easy !!
But, this is the biggest mistake people do even before starting the investment.
Banks charge the highest brokerage charges as compared to other full service brokers and discount brokers in India. You end up paying a lot of money to the banks in form of brokerage charges.
To help you to choose the right demat account, I have curated the 11 best demat and trading accounts in India and categorised them as per your need. I have added the 3-in-1 bank accounts as well, so that you can compare in a better way.
Without wasting time, here is the list 11 best demat and trading account in India
Best Demat Account With Lowest Brokerage In India
#1. Zerodha Demat & Trading Account Review
Zerodha is one of the best brokers in India. Zerodha takes the credit to start discount brokerage. If you want to pay limited brokerage, then you can consider opening account with Zerodha. They charge Rs. 20 per order or 0.03% (whichever is lower).
They offer detailed charts that provide you in-depth market analysis with historical data. You can create trading strategies as per your requirement even without the knowledge of coding.
Zerodha also offers direct mutual funds investment. You can also invest in IPOs online from Zerodha using UPI.
Zerodha annual charges
- Annual maintenance charges – Rs. 75/quarter (Rs. 300 per year) .
- Account opening charges – Rs. 300 ( Equity trading account – Rs. 200 and commodities – Rs. 100
Zerodha Brokerage charges
| Segment | Brokerage |
| Equity Delivery | Zero |
| Equity Intraday Trading | Rs. 20 or 0.03% (whichever is lower) |
| Equity Options | Flat Rs. 20 per executed order |
| Equity Futures | Rs. 20 or 0.03% (whichever is lower) |
| Currency Options | Rs. 20 or 0.03% (whichever is lower) |
| Commodity F&O | Rs. 20 or 0.03% (whichever is lower) |
Zerodha margin facility
| Segment | Margin |
| Equity Delivery | No Margin |
| Intraday Equity | 3 to 12.5x varies scrip to scrip |
| Index Futures | 35% of the normal margin (NRML) |
| Equity Futures | 45% of the normal margin (NRML) |
| Index Option Writing | 35% of the normal margin (NRML) |
| Stock Option Writing | 45% of the normal margin (NRML) |
| Currency Futures & Option Writing | 50% of the normal margin (NRML) |
| Commodity Futures & Option Writing | 50% of the normal margin (NRML) |
Best for
Zerodha is best for both long term investors as well as professional traders. Because a long term investor doesn’t have to pay any brokerage on equity delivery.
Along with that, if you are into intraday trading, you pay a very small amount as brokerage to Zerodha as compared to other retail brokers.
#2. Upstox Demat & Trading Account Review
Upstox is my favorite in this list, because Upstox provides one of the fastest trading platforms in India. UpStox has captured big customer segment in recent years. UpStox is also backed by Ratan Tata.
You can save money on your trades if you have an account with UpStox because they charge as low as Rs. 20 or 0.05% (whichever is lower). You can make a single trade of Rs 1 crore by paying just Rs 20 to the broker.
Even the account opening process is so smooth that you would get your account opened within 24 hours after all documents submission.
Upstox annual charges
- Account opening charges – Rs 300
- UpStox’s annual maintenance charges – Rs. 300 (charged Rs. 25 per month)
Upstox brokerage charges
| Segment | Brokerage |
| Equity Delivery | Zero |
| Equity Intraday Trading | Basic Plan – Rs. 20 or 0.05% (whichever is lower) Priority Plan – Rs. 30 or 0.10% (whichever is lower) |
| Equity Options | Flat Rs. 20 per executed order |
| Equity Futures | Rs. 20 or 0.05% (whichever is lower) |
| Currency Options | Flat Rs. 20 per executed order |
| Commodity Options | Flat Rs. 20 per executed order |
| Commodity Futures | Rs. 20 or 0.05% (whichever is lower) |
Upstox margin facility
Details of Margin leverage provided are as below.
| Segment | Intraday Orders | |
| Basic Plan | Priority Plan | |
| NSE/BSE Cash | 15x | 20x |
| Index Futures | 3x | 6x |
| Stock Futures | 3x | 3x |
| Index Option Sell | 3x | 6x |
| Stock Option Sell | 3x | 3x |
| NSE Currency | 4x | 4x |
| MCX Future | 2.5x | 3x |
Best for
Upstox is best for active traders who can enjoy priority plan for higher margin leverage on cash segment and discounted brokerage.
New investors can also take advantage of free equity delivery.
If you want to open a 3-in-1 account with discount brokerage, then I would recommend going with UpStox.
Also read – Zerodha vs Upstox – A complete comparison
#3. 5paisa Demat & Trading Account Review
5paisa is another trustworthy name in the discount brokers list. It is an initiative by big Indian financial company IIFL to provide discounted brokerage to Indians.
5paisa offers a one-stop-shop for multiple financial products like stocks, mutual funds, health insurance, and preapproved loans.
5Paisa annual charges
- Annual maintenance charges (Individual) – Rs. 45/month (pay only for the month you trade)
- Annual maintenance charges (non-Individual) – Rs. 400 per year
- Account opening charges – Rs. 650.
5Paisa brokerage charges
5paisa provide 3 different brokerage plans to cater your trading needs.
| Segment | Regular | Power Investor Pack (499/Month) | Ultra Trader Pack (999/Month) |
| Stock Delivery | Rs. 20/order | Rs. 10/order | Rs. 10/order |
| Stock Intraday | Rs. 20/order | Rs. 10/order | Rs. 10/order (First 100 trades free every month) |
| Stock F&O | Rs. 20/order | Rs. 10/order | Rs. 10/order |
| Commodity F&O | Rs. 20/order | Rs. 10/order (For Equity options Rs. 2/lot) | Rs. 10/order (For Equity options Rs. 2/lot) |
| Call Trade Charges | Rs. 100/call | Free | Free |
5Paisa margin facility
| Segment | Margin |
| Equity Intraday | Up to 20x |
| Equity Delivery | Up to 3.5x |
| Equity Futures | 3x |
| Currency Futures | 1x |
Best for
You will find 5paisa’s platforms are easy to use. You can also enjoy having all options in one place whether it’s stocks, mutual funds or health insurance.
If you are an active trader, you can get the benefit of discount brokerage and save money on high volume trades.
Also read – Hedonova Alternative Assets Investment Review
Best Demat Account For Small Investors in India 2023
#4. Angel Broking Demat & Trading Account Review
Angel broking is a full-service broker that offers discount brokerage for intraday trading. You also get margin facility along with a fast trading app without missing market fluctuations in real-time.
Angel Broking annual charges
- Account opening charges – Rs. 699/- (for the first year)
- Annual maintenance charges – Rs. 450/- per year.
Angel Broking brokerage charges
Angel broking has an iTrade prime plan in which they offer brokerage as below.
| Segment | Brokerage Charges |
| Equity Delivery | Rs 0 |
| Equity Intraday Trading | Rs. 20 per trade |
| Equity F&O Trades | Rs. 20 per order |
| Currency F&O Trades | Rs. 20 per order |
| Commodity F&O Trades | Rs. 20 per order |
Angel Broking margin facility
| Category | Margin |
| Equity Delivery Trading | Up to 6x |
| Equity Intraday Trading | 40x |
| Equity Futures | 4x |
| Equity Options | 3x |
| Currency Futures | Up to 2x |
| Currency Options | 2x |
| Commodity | Up to 3x |
Best for
Angel broking is best for small investors who want to invest in shares, mutual funds, and bonds, from one place.
You can also use a single id to manage different accounts of family members in angel broking.
Also read – Angel Broking vs Zerodha comparison
#5. Sharekhan Demat Account Review
Sharekhan is a trustable name in full-service brokers in India. Sharekhan has become a pioneer in providing portfolio management, investment solutions, and currency trading.
They provide high quality service to their customers and have a big network of more than 2500 outlets in 500+ cities.
Sharekhan annual charges
- Account opening charges – FREE
- Annual maintenance charges – Rs. 400 per year.
Sharekhan brokerage charges
| Segment | Charges |
| Equity Delivery | 0.30% per executed order |
| Equity Intraday Trading | 0.03% per executed order |
| Equity Options | Rs. 100 or 2.5% per executed order (whichever is higher) |
| Equity Futures | Leg 1 – 0.10%* Leg 2 – 0.02%* |
| Currency Options | Rs. 100 or 2.5% per executed order (whichever is higher) |
| Commodity F&O | Rs. 100 or 2.5% per executed order (whichever is higher) |
*Leg means a position in day trading. Leg 1 means your first position in intraday whether you buy or sell. Leg 2 means your second position whether you sell or buy your leg-1 shares within the same day.
Sharekhan margin facility
| Segment | Margin |
| Stock Intraday Trading | Up to 30x of securities |
| Stock Delivery | Up to 6.67x (depending on the group) |
You can also use the funds for 1 month to a maximum of 12 months with interest charges around 9% to 12%.
Best for
Sharekhan is best for investors or traders who want deep research advisory and high-end platforms. You get high-quality experience but you have to pay high brokerage fees.
#6. Motilal Oswal Demat Account Review
Motilal Oswal is beneficial for you if you want readymade deep research advisory along with wealth management services. Motilal Oswal has around 2200 offline offices in India and a large 10 lakh customer base. They spend 10% of their revenue on research.
Motilal Oswal annual charges
- Account opening charges = FREE
- Annual maintenance charges = Rs. 400.
Motilal Oswal brokerage charges
| Segment | Brokerage |
| Equity Delivery | 0.50% per executed order |
| Equity Intraday Trading | 0.05% per executed order |
| Equity Options | Rs. 75/lot |
| Equity Futures | 0.05% per executed order |
| Currency Options | 0.05% per executed order |
| Commodity F&O | 0.05% per executed order |
Motilal Oswal margin facility
| Segment | Margin |
| Stock Intraday Trading | Up to 20x |
| Stock Delivery | Up to 4x (you have to pay 25% amount upfront) |
Best for
Motilal Oswal is best for new investors who don’t know how to do research and require trusted research advice. You can also get offline in-person contact.
But you have to pay high brokerage to this full service broker.
#7. Religare Demat & Trading Account Review
Religare Securities is a pioneer in the brokerage industry with more than 8 lakh active clients.
Religare Securities (also known as RSL) offers stock trading, derivatives, mutual funds, IPO, and insurance. They also provide in-depth detailed research to their clients.
Religare annual charges
- Account opening charges – FREE
- Annual Maintenance Charges – Rs 500 (Starts from 2nd year) or pay Rs. 2500 for lifetime free account
Religare brokerage charges
| Segment | Brokerage |
| Equity Delivery | 0.50% per executed order |
| Equity Intraday Trading | 0.05% per executed order |
| Equity Options | Rs. 100/lot |
| Equity Futures | 0.05% per executed order |
| Currency Options | 0.05% per executed order |
| Commodity F&O | Rs. 250/lot or maximum of 2.5% of premium amount |
Religare margin facility
You get a margin around 10x to 30x on your available funds for the intraday.
| Segment | Margin |
| Stock Intraday Trading | Up to 30x |
Best for
Religare is best for small investors who invest less often and don’t want to pay AMC every year. They can save money by paying a one time fee of Rs. 2500 and get a lifetime free demat/trading account.
#8. Indiabulls Securities Demat Account Review
Indiabulls securities is a leading broker in India with a large customer base of more than 7 lakhs. They have 900+ offline locations in 18+ cities throughout India. Indiabulls is a good choice for active traders who want to invest a big amount of money.
Let’s have a look at their charges and other important details.
Annual charges
- Account opening charges – Rs. 450
- Annual maintenance charges – Rs. 450
Brokerage charges
Indiabulls offers flat brokerage services by paying them a monthly fee regularly.
- Monthly charges – Rs. 1000 per month.
- Brokerage charges – 0.01% per executed order.
Margin facility
Indiabulls offer multiple margin plans as per customer’s requirements. You can trade on both delivery & intraday with 5X intraday exposure.
The details are as below.
| Plan No. | Fee for 30 Day Plan (in Rs.) | Margin Funding (0% Interest)Rs. |
| 1 | 1,000 | 0 |
| 2 | 2,000 | 1,00,000 |
| 3 | 3,000 | 2,00,000 |
| 4 | 5,000 | 3,25,000 |
| 5 | 7,500 | 5,00,000 |
| 6 | 10,000 | 6,50,000 |
| 7 | 12,500 | 8,50,000 |
| 8 | 15,000 | 10,00,000 |
| 9 | 20,000 | 12,50,000 |
| 10 | 25,000 | 15,00,000 |
| 11 | 30,000 | 17,50,000 |
| 12 | 35,000 | 20,00,000 |
| 13 | 45,000 | 22,50,000 |
| 14 | 50,000 | 25,00,000 |
| 15 | 100,000 | 50,00,000 |
Best for
Indiabulls is best for you if you are an active trader who wants to get high margin leverage and along with discounted brokerage.
Best 3-in-1 Demat & Trading Account In India 2023
#9. HDFC Demat & Trading Account Review
HDFC securities offer you a 3-in-1 account without paying any opening charges. You have to pay annual maintenance charges only.
You get detailed analysis of market trends and you can use different web, desktop and mobile based trading applications to start investing in stocks.
HDFC securities annual charges
- Account opening charges – FREE
- Annual maintenance charges – Rs 750 (starts from 2nd year)
HDFC securities brokerage charges
| Segment | Brokerage |
| Equity Delivery | Rs. 25 or 0.50% per executed order (whichever is higher) |
| Equity Intraday Trading | Rs. 25 or 0.05% per executed order (whichever is higher) |
| Equity Options | Rs. 100 per lot or 1% of permium amount (whichever is higher) |
| Equity Futures | Rs. 25 or 0.05% per executed order (whichever is higher) |
| Currency Options | Rs. 23 per executed order |
| Currency Futures | Rs. 20 per executed order |
| Commodity Futures | Rs. 20 or 0.025% per executed order (whichever is higher) |
| Commodity Options | Rs.100/- per lot |
HDFC securities margin facility
| Segment | Margin |
| Stock Intraday Trading | Up to 20x |
| Stock Delivery | Up to 2x (with interest) |
Best for
HDFC is best for people who have an HDFC bank account and want to invest in stocks, mutual funds or IPOs from their savings account. You can also invest in ETFs, NCDs and bonds if you don’t want to invest in risky instruments.
You also earn interest on your idle amount as you don’t have to transfer money to a separate trading account.
#10. ICICI Direct Demat Account Review
ICICI Direct is one of the best 3-in-1 trading accounts in India. The 3-in-1 account provides a single account having a savings account, a demat and trading accounts.
ICICI is famous for introducing new technologies to their customers. Their trading platforms are tested and updated. You can pay less brokerage if you are a small investor and you don’t invest more than Rs. 6000 in intraday. I will explain it later.
ICICI Direct annual charges
- ICICI Direct 3-in-1 account opening charges – Rs. 975 (One-time fee).
- Annual maintenance charges – Rs. 500 (for email settlement) and Rs. 600 (for physical delivery).
ICICI Direct brokerage charges
Brokerage (for transactions up to Rs. 6,364) – Rs. 35 per trade or 2.5% of the trade value (whichever is lower).
Brokerage (Transactions above Rs. 6,364 ) is given below.
- 1st Leg charges- 0.55%
- 2nd Leg charges- 0
Details of brokerage charges segment-wise –
| Segment | Brokerage |
| Equity Delivery | 0.55% |
| Equity Intraday Trading | 0.275% |
| Equity Options | First leg – Flat Rs. 95 per lot Second leg – Rs. 50 per lot |
| Equity Futures | First leg – 0.05% Second leg – Rs. 50 |
| Currency Options | Flat Rs. 25 per lot Second leg – Rs. 10 per lot |
| Currency Futures | First leg – 0.05% Second leg – Rs. 10 |
ICICI Direct margin facility
| Segment | Margin |
| Stock Intraday Trading | Up to 25x |
| Stock Delivery | Up to 3x (with interest) |
Best for
ICICI Direct is best for those who want a 3-in-1 account to avoid the hassle of funds transfer to demat/trading account for stock investment.
3-in-1 account provides you the benefit of paying directly from your savings account rather than transferring first to your trading account for buying stocks.
Check out – Zerodha Vs ICICI direct
#11. SBICap Securities Demat Account Review
Sbicap securities fulfill your different investment needs at one place. You can open a 3-in-1 account and start trading in stocks, invest in bonds or you can buy IPO.
You can also seek research based advice from your relationship manager based on your requirements.
Sbicap securities annual charges
- Account opening charges – Rs 850 (One time fee)
- Annual maintenance charges – Rs 800 per year
Sbicap securities brokerage charges
| Segment | Brokerage |
| Equity Delivery | 0.50% per executed order |
| Equity Intraday Trading | 0.05% or 5 paisa per share (whichever is higher) |
| Equity Options | Rs. 100 per lot |
| Equity Futures | 0.05% or 5 paisa per share (whichever is higher) |
| Currency Options | Rs. 100 per lot |
| Currency Futures | 0.05% or 5 paisa per share (whichever is higher) |
Sbicap securities margin facility
Sbicap offers a margin of 3x to 8x of securities varies from scrip to scrip.
| Segment | Margin |
| Stock Intraday Trading | Up to 8x |
Best for
Sbicap is best for people who are old SBI customers and don’t want to change for something new. You can get high quality trading platforms along with deep research advisory.
3-in-1 account gives you hassle-free operations right from your savings account.
Conclusion
You can choose the best demat and trading account as per your requirements. I would suggest you to go with either
If you like to go with a 3-in-1 account apart from the above discussed, you can also go with UpStox because UpStox is also offering a 3-in-1 account online in collaboration with IndusInd bank.
Let me know with which broker you are going to open your account.
