Top 10 Best Demat and Trading Account in India

With so many demat and trading account options available, it can be tough for you to know which would work best for you.

To help you out, we have done a comprehensive review process to determine the top 10 best demat account in India.

Let’s dig deep into it.

Best Demat and Trading Account in India

#1. Zerodha

Zerodha

Zerodha is the largest broker in India with more than a 50 lakh customer base. Zerodha is popular because of its free equity delivery, cheap brokerage, and better customer service (among discount brokers).

Free equity delivery means you don’t have to pay brokerage if you are buying and holding stocks.

Zerodha demat and trading account provide Kite platform which is minimalistic and easy to use even for a beginner.

You can avail of these investment or trading options –

  • Stocks, commodities and currencies,
  • Start mutual funds investment (without commission)
  • Subscribe for IPO
  • Invest government securities or bonds

Zerodha has a Coin app dedicated to mutual funds investment. You can invest directly from Kite app as you can open the Coin interface within the Kite app making it convenient to use a single app for multiple investment types.

You can also learn about stock market complex topics using Zerodha’s Varsity app in a very easy-to-understand language.

Zerodha started the flat Rs. 20 brokerage trends in India (shown in detail below).

Zerodha brokerage fee

SegmentBrokerage Charges
Equity DeliveryFree
Equity IntradayRs 20 or 0.03% (whichever is lower) per executed order
Equity FutureRs 20 or 0.03% (whichever is lower) per executed order
Equity OptionsRs 20 per executed order 
Currency FuturesRs 20 or 0.03% (whichever is lower) per executed order
Currency OptionsRs 20 or 0.03% (whichever is lower) per executed order
CommodityRs 20 or 0.03% (whichever is lower) per executed order
Mutual FundNo Commission

Zerodha margin leverage 

Zerodha offers an intraday trading margin of up to 6x (varies stock-wise) and 1.3x across future & options trading. 

Zerodha doesn’t provide any margin facility on carrying forward positions for F&O and equity delivery trades.

Account opening and maintenance charges

  • Account opening charges – For equity Rs. 200 and for commodity Rs. 100
  • Account maintenance charges – Rs. 75 per quarter

Pros of Zerodha demat & trading account

  • Low discount brokerage
  • Easy to use trading platform
  • Fast account opening process
  • Direct mutual fund services (no commission)
  • Collaboration with brands like Sensibul or SmallCase for better services
  • Good customer service as compared to other discount brokers
  • Varsity app for stock trading or investment learning

Cons of Zerodha demat & trading account

  • Trading platform hangs in peak hours sometimes
  • No margin carry forward facility

Best Demat and Trading Account with Low Brokerage

#2. Upstox

Upstox Home

Upstox is the best discount broker in India because of its low brokerage that is Rs. 20 or 0.05% per order (whichever is lower).

Upstox offers you an all-in-one app to invest in stocks, mutual funds, digital gold, and bonds.

Upstox Pro Web (desktop version) and Upstox mobile app both are fast and snappy. Upstox has really improved its trading platform in the last 2 years.

Upstox also offers a 3-in-1 account in collaboration with IndusInd Bank in a hassle-free account opening process.

You get the benefits of saving accounts like earn interest on the unallocated money while trading from the same account to avoid the hassle of funds transfer.

Upstox also offers a digital gold scheme for people who wants to invest money in gold. You can buy or sell pure BIS standard digital gold through the Upstox app.

Upstox Brokerage Fee

SegmentBrokerage Charges
Equity DeliveryFree
Equity IntradayRs 20 or 0.05% (whichever is lower) per executed order
Equity FutureRs 20 or 0.05% (whichever is lower) per executed order
Equity OptionsRs 20 per executed order 
Currency FuturesRs 20 or 0.05% (whichever is lower) per executed order
Currency OptionsRs 20 or 0.05% (whichever is lower) per executed order
CommodityRs 20 or 0.05% (whichever is lower) per executed order
Mutual FundNo Commission

Upstox margin leverage 

Upstox offers margin leverage of up to 5x (varies stock-wise) in intraday trading and 2x across future & options trading. 

Upstox has stopped offering additional margin on carrying forward positions for F&O and equity delivery trades from March 2021.

Account opening and maintenance charges

  • Account opening charges – Rs. 199
  • Account maintenance charges – Rs. 25 per month

Pros of Upstox demat & trading account

  • Low brokerage
  • Fast trading platform
  • Hassle-free account opening process
  • Direct mutual fund investment (no commission)
  • Proper 3-in-1 account for hassle-free trading with saving account benefits
  • Invest in gold, IPOs, and mutual funds right from App

Cons of Upstox demat & trading account

  • No advisory services
  • Poor customer support

#3. Wisdom Capital

wisdom capital home

Wisdom Capital has the lowest brokerage charges as you have to pay a one-time fee of Rs 999 and you get lifetime free access on all the plans. And you don’t have to pay any account opening or maintenance fees separately.

If you are looking for a “brokerage free account”, then you can choose the Wisdom Freedom plan. 

Wisdom Capital offers 3 plans for different brokerage changes –

  • Freedom plan
  • Pro plan 
  • Ultimate plan 

Let’s discuss the brokerage charges in all the plans.

Wisdom capital brokerage charges 

TypeFreedom PlanPro PlanUltimate Plan
Equities Delivery00.01% per order0.02% per order
Equities Intraday00.01% per order0.02% per order
NSE Future0Rs 9/Trade0.005% per order
NSE Options0Rs 9/TradeRs. 15/Lot
Commodities Delivery0Rs 9/Trade0.005%per order
Commodities Intraday0Rs 9/Trade0.005% per order
Call & Trade ChargesRs 20/Executed OrderRs 20/Executed OrderRs 20/Executed Order

Wisdom capital margin leverage 

Upstox offers margin leverage of up to 5x (varies stock-wise) in intraday trading for the freedom plan and up to 10x in Pro/Ultimate plans.

You get up to 2x across future & options trading. 

Account opening and maintenance charges

  • Account opening charges – Zero
  • Account maintenance charges – Zero
  • Demat account maintenance charges – Rs. 999 (one-time payment)

Pros of wisdom capital demat & trading account

  • No Brokerage in Freedom plan
  • No Account opening fee
  • No AMCs for lifetime 
  • High margin facility in the ultimate plan

Cons of wisdom capital demat & trading account

  • Account opening is offline
  • The mobile app is slow
  • No mutual funds investment facility
  • No IPO subscription facility

Best Demat and Trading Account for Beginners

#4. 5paisa

5PAISA

5paisa is ideal for beginners or occasional traders because 5paisa only charges an account maintenance fee for the month you have traded.

That means if you trade only for 3 months in a year, you have to pay the account maintenance fee for those 3 months only unline other brokers who charge on annual basis.

5paisa is another cheapest discount broker as it charges Rs. 10 per trade (in premium plans) which is low among other brokers.

5paisa has 3 plans – 

  • Basic – No monthly charges
  • Power investor – Rs. 499/month
  • Ultra trader – Rs. 999/month

The only problem is you have to pay brokerage for equity delivery orders as well. Let’s understand from the table below.

Brokerage Charges 

TypeBasic PlanPower Investor Pack
(499/Month)
Ultra Trader Pack
(999/Month)
Stock DeliveryRs. 20/orderRs. 10/orderRs. 10/order
Stock IntradayRs. 20/orderRs. 10/orderRs. 10/order (First 100 trades free every month)
Stock FuturesRs. 20/orderRs. 10/orderRs. 10/order
Stock OptionsRs. 20/orderRs. 2/lotRs. 2/lot
Commodity F&ORs. 20/orderRs. 10/order Rs. 10/order 

5paisa margin leverage 

5paisa offers an intraday trading margin of up to 4x  and 5x across future & options trading. 

Account opening and maintenance charges 

  • Account opening charges – Free 
  • Basic plan – Up to Rs. 25 per month (depending on holdings)
  • Power investor pack – Rs 499 per month 
  • Ultra trader pack – Rs. 999 per month

Pros of 5paisa demat & trading account

  • Cheap brokerage with premium plans
  • Seamless account opening process
  • Easy to use mobile app
  • Direct mutual fund investment (zero commission)
  • Invest in IPOs, insurance, and mutual funds right from App
  • Only pay for the month you trade-in basic plan

Cons of 5paisa demat & trading account

  • No free equity delivery
  • The trading platform crawls at peak time
  • Very costly call & trade at Rs. 100 per order

Best Demat and Trading Account for Small Investors

#5. Angel Broking

Angel broking

Angel Broking is the only full-service broker that offers discount brokerage in its iTrade Prime plan.

Angel Broking is good for small investors as you get free equity delivery means you don’t have to pay brokerage if you are buying and holding stocks.

You can also pay flat Rs. 20 per order in case you want to experience stock trading as well.

Angel Broking has a fast platform that makes your investing experience smooth. You also get good customer service especially if you are a newbie and got stuck somewhere.

The problem with Angel Broking is they sometimes add hidden charges that you must clarify with customer care.

Secondly, you must check if you are registered with the iTrade Prime plan or not when your account is opened, sometimes they put you in a traditional plan with high brokerage charges. So be vigil.

Angel Broking brokerage fee (iTrade Prime plan)

SegmentBrokerage Charges
Equity DeliveryFree
Equity IntradayFlat Rs 20 per executed order
Equity FutureFlat Rs 20 per executed order
Equity OptionsFlat Rs 20 per executed order 
Currency FuturesFlat Rs 20 per executed order
Currency OptionsFlat Rs 20 per executed order
CommodityFlat Rs 20 per executed order

Angel Broking margin leverage 

Angel Broking offers an intraday trading margin of up to 10x (varies stock-wise) and 2x across F&O trading. 

Account opening and maintenance charges

  • Account opening charges – Free
  • Account maintenance charges – Rs. 450 per year

Pros of Angel Broking demat & trading account

  • Free equity delivery & flat discount brokerage with iTrade Prime plan
  • Good customer service 
  • ARQ Prime Robo-advisory for great returns
  • Smart money portal for stock trading or investment learning

Cons of Angel Broking demat & trading account

  • Trading platform hangs in peak hours sometimes
  • No margin carry forward facility

#6. Sharekhan

Sharekhan

Sharekhan is a good option for small investors who want research-based advisory services as they don’t have much knowledge about stock investment.

Sharekhan has 20 years of experience in stock market research.

You can get tips on stock investment, stock trading as well as derivatives trading. You can also avail of their portfolio management services that help you design your investment portfolio as per your investment goals, risk appetite, and market trends.

Sharekhan also has dedicated learning centers for newbies called “Sharekhan Classrooms” where you can learn about stock investment.

Sharekhan brokerage fee

SegmentBrokerage Charges
Equity Intraday0.1% on 1st leg and 0.02% on the 2nd leg
Equity Delivery0.50% (min 10 paise)
Equity Futures0.1% on 1st leg and 0.02% on the 2nd leg
Equity OptionsRs 100 per lot or 2.5% on the premium ( whichever is  higher)
Currency Futures0.1% on 1st leg and 0.02% on the 2nd leg
Currency OptionsRs 100 per lot or 2.5% on the premium ( whichever is  higher)
CommodityRs 100 per lot or 2.5% on the premium ( whichever is  higher)

Sharekhan margin leverage 

Sharekhan offers up to 10x margin (varies stock-wise) on intraday trading, 5x on equity delivery, and 2x across F&O trading. 

Account opening and maintenance charges

  • Account opening charges – Free
  • Account maintenance charges – Rs. 750 per year (First year free)

Pros of Sharekhan demat & trading account

  • Tips for stock selection and other investments
  • Dedicated relationship manager
  • Portfolio management services
  • High margin leverage facility
  • Sharekhan classrooms for stock investment learning

Cons of Sharekhan demat & trading account

  • High brokerage fee
  • No free equity delivery
  • High AMC fee

#7. Motilal Oswal

Motilal oswal

Motilal Oswal is one of the oldest full-service brokers, famous for its in-depth market research advisory.

If you are a small investor, who wants to invest for the long term and who a tailormade plan to fulfill your investment goals, then go with Motilal Oswal.

Because Motilal Oswal would provide you multiple plans to choose from that would take care of your investment needs.

You can also invest in the US market through Motilal Oswal if you are keen to buy stocks like Apple, Amazon, Tesla, and similar ones.

Motilal Oswal has two robust platforms – MO Investor and MO Trader.

Both platforms are fast, reliable, and refreshes instantly to provide you real-time market changes.

However, you have to pay hefty brokerage fees to avail above-said services which we’ll discuss below.

Motilal Oswal brokerage fee

SegmentBrokerage Charges
Equity Intraday0.05% per order (min 5 paise)
Equity Delivery0.50% per order
Equity Futures0.05% per order
Equity OptionsRs 70 per lot 
Currency Futures0.05% per order
Currency OptionsRs 70 per lot 
CommodityRs 70 per lot 

Motilal Oswal margin leverage 

Sharekhan offers up to 10x margin (varies stock-wise) on intraday trading, 4x on equity delivery, and 3x across F&O trading. 

Account opening and maintenance charges

  • Account opening charges – Free
  • Account maintenance charges – Rs. 300 to Rs. 800 per year (varies trading amount wise)

Pros of Motilal Oswal demat & trading account

  • In-depth research analysis with 80,000 plus stock reports
  • Premium portfolio management services
  • High margin leverage facility
  • US market investment facility

Cons of Motilal Oswal demat & trading account

  • High brokerage fee
  • No free equity delivery
  • High AMC fee
  • Hidden charges

Best 3-in-1 Demat and Trading Account

#8. ICICI Direct

ICICI Direct

ICICI Direct is the largest full-service broker in India with a 50 lakh customer base. 

You can easily get a demat and trading account if you already have an ICICI bank account. This means you get a 3-in-1 account that serves you as a savings, demat, and trading account in one place.

ICICI direct offer a wide range of services like 

  • Stock investment
  • Mutual funds, 
  • IPO, 
  • Fixed deposits, 
  • Bond
  • NPS
  • Portfolio management
  • Research reports
  • Loan against investment
  • Insurance

Although ICICI Direct offers a heck of a lot of services you also have to pay huge money as brokerage.

They are one of the highest brokerage charging companies. Let’s have a look at the brokerage fee.

ICICI Direct brokerage fee (I-Secure Plan)

SegmentBrokerage Charges
Equity Intraday0.275% per order 
Equity Delivery0.55% per order
Equity Futures0.275% per order 
Equity OptionsRs.35 to Rs.95/Lot
Currency Futures0.03% to 0.05% per order
Currency OptionsRs.10 to rs.25 /Lot
CommodityNot applicable

ICICI Direct margin leverage 

ICICI Direct offers up to 10x margin (varies stock-wise) on intraday trading, and 5x across F&O trading. 

Account opening and maintenance charges

  • Account opening charges – Free
  • Account maintenance charges – Rs. 1475 per year (Trading a/c – Rs. 975 + Demat a/c – Rs. 500)

Pros of ICICI Direct demat & trading account

  • 3-in-1 account for hassle free funds movement
  • Premium portfolio management services
  • High margin leverage facility
  • Wide range of financial products

Cons of ICICI Direct demat & trading account

  • Very high AMC charges
  • High brokerage fee

#9. HDFC Securities

hdfc securities

HDFC Securities is the 3rd biggest full-service broker with 250 plus branches all over India.

You get a 4-in-1 advantage account that includes a savings account, demat account, trading account, and loan account.

You can use HDFC Web Terminal which is a fast trading platform that allows you to personalize watchlists to give quick access to your favorite stocks. 

HDFC Securities brokerage fee 

SegmentBrokerage Charges
Equity Intraday0.05% of Rs. 25 (whichever is higher)
Equity Delivery0.5% of Rs. 25 (whichever is higher)
Equity Futures0.05% of Rs.25  (whichever is higher)
Equity OptionsRs.100/Lot
Currency FuturesRs.23/Contract
Currency OptionsRs.20/Contract
CommodityNot Applicable

HDFC Securities margin leverage 

HDFC Securities offers up to 10x margin (varies stock-wise) on intraday trading, and 4x across F&O trading. 

Account opening and maintenance charges

  • Account opening charges – Free
  • Account maintenance charges – Rs. 750 per year (1st year free)

Pros of HDFC Securities demat & trading account

  • 4-in-1 account with loan feature
  • 250 plus branches for easy personal access
  • Wide range of financial products

Cons of HDFC Securities demat & trading account

  • High brokerage fee

#10. Axis Direct

Axis Direct Home

Unlike ICICI Direct and HDFC Securities, Axis Direct deals in commodity trading along with stock trading and other investment products.

If you want a 3-in-1 account that offers a commodity trading facility then go with Axis Direct. Axis Direct also offers a US stock investment facility.

Axis Direct brokerage fee 

You have to maintain Rs. 75,000 funds per quarter in savings account to avail flat brokerage SA 75000 plan.

PlansProsperity/ Fixed Brokerage PlanAP 1500 PlanNN5555 PlanSA75000 Plan
Equity Delivery 0.50% (each leg)0.50% (each leg)0.25% (each leg)Rs. 20 per executed order
Equity Intraday 0.05% (each leg)0.05% (each leg)0.03% (each leg)Rs. 20 per executed order
Futures(Equity, Currency & Commodities)0.05% (each leg)0.05% (each leg)0.03%(each leg)Rs. 20 per executed order
Options (Equity, Currency & Commodities)Rs. 20 (each lot/ leg)Rs. 20 (each lot/ leg)Rs. 20 (each lot/ leg)Rs. 20 per executed order

Axis Direct margin leverage 

Axis Direct offers up to 4x margin (varies stock-wise) on equity delivery, and 2x across F&O trading. 

Account opening and maintenance charges

  • Account opening charges (Fixed Brokerage)- Rs. 999 
  • Account opening charges (AP 1500 Plan)- Rs. 1,500
  • Account opening charges (NN5555 Plan)- Rs. 5,555
  • Account maintenance charges – Rs. 750 per year (1st year free)

Pros of Axis Direct demat & trading account

  • 3-in-1 easy to maintain account
  • US stock investment option
  • Commodity trading facility
  • Low brokerage if maintained quarterly balance

Cons of Axis Direct demat & trading account

  • High account opening charges (up to Rs. 5555 for low brokerage plan)
  • High brokerage
  • High maintenance charges

Final Thoughts

If you are still confused about which demat account would be the best for you, I have shortlisted the 3 top choices as per the requirements.

Best overall brokerBest discount brokerBest broker for small investors
BrokerZerodhaUpstoxAngel Broking
BenefitsFree equity delivery, low brokerage, good customer service3-in-1 account, low brokerage fee, All investments access from a single appResearch advisory, good customer support, a wide range of financial products
ConsPlatform slows downBad customer supportHidden charges

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