15 Best Demat Account in India [2022 Ranking]

With so many Demat and trading account options available, it can be tough for you to know which would be the best Demat account in India for you.

To help you out, we have done a comprehensive review process to determine the top 15 Demat accounts in India.

Best Demat Account in India 2022

#1. Zerodha Demat Account

Zerodha is the largest broker in India with more than a 90 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 the stocks and not selling them on the same day.

Zerodha’s Kite platform is easy to use even for a beginner thanks to its minimalistic design.

You can avail of these investment or trading options –

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

Zerodha brokerage fee

Zerodha margin leverage 

Zerodha offers an intraday trading margin of up to 5x (varies stock-wise) and 1x across future & options trading. 

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

Zerodha Account opening and maintenance charges

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

Zerodha charges & fee list

Important Zerodha Queries You Should Know

#1. What’s the Delivery Margin in Zerodha

Zerodha doesn’t offer any margin on delivery orders. 

#2. What is GTT in Zerodha

Good till triggered (GTT) is a condition to execute an order (either buy or sell order) that would remain active in the exchange until the defined condition in that trigger is met. 

#3. What is BO-ID in Zerodha

BO-ID (Beneficial Owner Identification Number) is a 16-digit Demat account number registered with CDSL. It is unique for every investor registered on the CDSL exchange and with different brokers, you get different BO-IDs.

#4. What’s the Zerodha Intraday Square-Off Time

#5. How to Activate F&O in Zerodha

You can activate F&O through Zerodha Console under the “segments” section in the “Account” tab.

#6. Can I Sell T1 Shares in Zerodha

You can’t sell T1 shares in Zerodha or any other broker, as per SEBI’s new guidelines and you can only sell after T+2 days after the order has been settled.

#7. Zerodha Customer Care Number 24×7

Zerodha doesn’t offer any 24×7 customer care number but you can reach out to the support team as discussed below –

You can also create a ticket for your issue at Support.Zerodha.com which is available 24×7, the team will reach you for your issue within the above-mentioned time.

#8. What are the SmallCase Charges through Zerodha

You pay two kinds of charges when investing in stocks with SmallCase through Zerodha –

• SmallCase charges – Rs. 100 or 2.5% if the order value is below Rs. 4,000 on that day
• Zerodha charges – other charges like STT as applicable on Zerodha

You don’t have to pay additional SmallCase charges if you order in the same smallcase (basket).

#2. Upstox Demat Account

Upstox is the best discount broker in India that offers low brokerage along with 3-in-1 account benefits.

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 earning interest on the unallocated money while trading from the same account to avoid the hassle of funds transfer.

Upstox offers you an all-in-one app to invest in stocks, mutual funds, digital gold, and bonds. Upstox now offers a US stock investment platform as well.

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.

Earlier Upstox used to offer free equity delivery but now Upstox brokerage charges for delivery start from 2.5% of transaction value capped at Rs. 20 per order, which could be a deal breaker for some investors.

Upstox Brokerage Fee

Upstox margin leverage 

Upstox leverage for intraday is offered at 5x (varies stock-wise) and 1x across future & options trading. 

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

Upstox Account opening and maintenance charges

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

Upstox Charges & Fee list

Important Upstox queries

#1. Upstox customer care number (Upstox customer care WhatsApp number) 

Upstox doesn’t offer any WhatsApp customer care number but you can reach out to the support numbers mentioned below –

#1. What’s the Delivery Margin in Upstox

You have to manage 50% of funds available to get a 50% delivery margin from Upstox. You can utilize delivery margin by activating the Margin Trading Facility from the platform.

#2. What are the Upstox account closing charges

Upstox doesn’t charge any fee for closing the account.

#3. What are Upstox F&O charges

• For Futures, you have to pay Rs. 20 or 0.05% (whichever is lower) per order. 
• For Options, you the brokerage is flat Rs. 20 per order.

#4. What are the intraday to delivery conversion charges Upstox

You have to pay the equity delivery charges that is lower of Rs 20 or 2.5% per order if you convert an intraday to delivery yourself.

If the order gets squared off automatically by Upstox, then you have to pay Rs. 50 per order.

#5. What are the charges for selling T1 holdings Upstox

You can’t sell T1 shares (BTST is closed) as per SEBI’s new guidelines and you can only sell after T+2 days after the order has been settled.

#6. What are the SmallCase Charges Upstox

You pay two kinds of charges when investing in stocks with SmallCase through Upstox –

• SmallCase charges – Rs. 200 one time fee
• Upstox charges – other charges like delivery brokerage, STT as applicable on Upstox

You don’t have to pay additional SmallCase charges until you exit that smallcase.

#7. What’s the Upstox option selling margin

Upstox doesn’t offer margin on options selling. You can only avail margin on equities cash and futures orders.

#3. Wisdom Capital

Wisdom Capital has the lowest brokerage charges and offers you a lifetime free demat account by paying a one-time fee of Rs 999. You don’t have to pay any account opening or maintenance fees separately.

If you are looking for a “ very low-brokerage account”, then you can go with Wisdom Capital. 

Wisdom capital brokerage charges 

Wisdom capital margin leverage 

Wisdom capital offers margin leverage of up to 5x (varies stock-wise) in intraday trading and you get up to 1x 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)

#4. 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 unlike 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.

5paisa Brokerage Charges 

5paisa margin leverage 

5paisa offers an intraday trading margin of up to 5x and 1x across future & options trading. 

5paisa Account opening charges

• No account opening charges

5paisa annual maintenance charges 

• 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

5paisa Charges & Fee list

5paisa customer care number

You can contact 5paisa customer care at 089766 89766.

#5. Angel Broking Demat Account

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 that sometimes they 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 charges (iTrade Prime plan)

Angel Broking margin leverage 

Angel Broking delivery margin is around 4x and in intraday, you get up to 5x (varies stock-wise) and 1x across F&O trading. You have to deposit 20% of the transaction volume with Angel Broking to avail margin facility.

Angel Broking account opening charges

• Account opening charges – Free

Angel Broking AMC charges

• Account maintenance charges – Rs. 450 per year

Angel Broking Charges & Fee details

Important Angel Broking queries

#1. Angel Broking customer care

You can connect with the Angel Broking support team at 080 4748 0048.

#2. What are the Angel Broking account closing charges

Angel Broking doesn’t charge any fee for closing the account.

#3. Angel Broking option selling margin

As per SEBI’s new rule, the Angel Broking option selling margin is fixed at 1x.

#4. Angel Broking commodity margin

As per SEBI’s new rule, the Angel Broking option selling margin is fixed at 1x.

#5. Angel Broking mutual funds charge

Angel Broking doesn’t charge brokerage on mutual fund investments from the investors. However, they get a commission from AMCs against their mutual fund’s sale. The commission slab on different categories of mutual funds is as below –

#6. How to stop margin trading in Angel Broking

You have to contact customer support to deactivate margin trading.

#6. Sharekhan Demat Account

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

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

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. 

Sharekhan demat account charges

• Sharekhan account opening charges – ZERO
• Annual maintenance charges of Sharekhan – Rs. 750 per year (First year free)

Sharekhan Charges & Fee Details

Important Sharekhan queries

#1. Sharekhan customer care number

You can connect with Sharekhan support team at 022 6115 1111.

#2. Sharekhan app for PC

You can download the “Trade Tiger” a stock trading app designed for PCs from the Sharekhan website.

#3. Intraday margin cash Sharekhan

You can avail 50% to 90% Loan To Value Ratio with Sharekhan

#7. Motilal Oswal Demat Account

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 has a tailormade plan to fulfill your investment goals, then go with Motilal Oswal.

Because Motilal Oswal would provide you with 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 refresh instantly to provide you with 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 charges list

Motilal Oswal delivery charges are quite high at 0.50% per order value.

Motilal Oswal margin leverage 

Sharekhan offers up to 5x margin (varies stock-wise) on intraday trading, 4x on equity delivery, and 1x across F&O trading. 

Motilal Oswal Account opening charges

• No account opening charges

Motilal Oswal annual maintenance charges

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

Motilal Oswal customer care

#8. ICICI Direct Demat Account

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 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 in India. Let’s have a look at the brokerage fee.

ICICI Direct brokerage plan

ICICI Direct offers multiple plans but here we’ll discuss 3 major plans available.

I. ICICI Direct brokerage charges (I-Secure Plan)

ICICI Direct also offers a low brokerage plan where you have to a subscription amount as shown below –

II. ICICI Direct Prime plan brokerage charges (Prepaid brokerage plan ICICI DIRECT)

III. ICICI Direct Neo plan

If you are interested in futures trading only, then go with the ICICI Direct Neo plan that offers free futures trading. ICICI Direct Neo plan charges are as follows –

• Plan activation charges – 399 (one time)
• AMC – 300 per year
• Futures trading charges – Free
• Equity Intraday & Options – Rs. 20 per order
• Currency & Commodity – Rs. 20 per order
• Equity delivery – as per the existing plan

ICICI Direct margin leverage 

ICICI Direct offers up to 5x margin (varies stock-wise) on intraday trading, and 1x across F&O trading. 

ICICI Direct account opening charges

• No account opening charges

ICICI Direct account maintenance charges

• Neo plan – Rs. 300 per year
• Other plans – Rs. 700 per year

ICICI Direct Charges & Fee Details

Important ICICI Direct queries

#1. What is ICICI Direct Margin Plus

ICICI offers a unique feature of MarginPLUS, in which you can place two orders simultaneously with ‘book profits’ and ‘stop-losses’. 

This means you have to place a ‘market order’ or the ‘limit price’, along with a ‘cover order’, which mentions your ideal ‘Stop Loss Trigger Price’ (SLTP).

When you place the stop-loss order along with the market order (while taking a position), it reduces your risk of losing money. 

Moreover, MarginPLUS also protects your gains by placing a cover profit order at a limit price. 

The limit price is automatically executed when your profit price is reached. When the profit price is once reached, the opposite order is immediately reversed. The whole process is automatic, so you do not have to monitor the markets all the time.

#2. What is margin buy in ICICI Direct 

Margin Buy is getting additional leverage based on your available funds or pledged shares for intraday trading.

#3. ICICI Direct option selling margin

ICICI offers a 50% margin if the trader keeps 50% of the funds required in the account for options trading.

#4. ICICI Direct customer care mobile number

ICICI Direct doesn’t offer mobile number support but you can connect with the support team over WhatsApp at 9833330151.

Or you can call 1860 123 1122 between 09:00 AM – 06:00 PM from Monday to Friday.

#5. ICICI Direct free brokerage

You can avail of ICICI direct free brokerage based on the value of the account opening cheque you provide at the time of account opening.

#6. What is the 2000 free brokerage from ICICI direct

You can get a minimum of Rs. 2000 free brokerage from ICICI Direct if you transfer stocks from another demat account to your ICICI Direct account. The offer is as below –

#7. ICICI Direct charges for mutual funds if the investment amount is less than Rs. 8 lakhs

If the cumulative MF investment amount is less than Rs. 8 lakhs, you have to pay charges on each transaction as shown below.

#9. HDFC Securities Demat Account

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 plan 

HDFC Securities margin leverage 

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

HDFC Securities account opening charges

No account opening charges

HDFC Securities AMC charges

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

HDFC Securities Charges & Fee Details

HDFC Securities customer care

You can call on 022-39019400 or 022 – 49360469 to get your issue resolved.

We have also done a detailed comparison of HDFC Securities vs Zerodha that you can enjoy reading.

#10. Axis Direct Demat Account

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 charges

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

Axis Direct margin leverage 

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

Axis Direct account opening 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

Axis Direct AMC charges

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

Other Axis Direct Charges

#11. Groww Demat Account

Groww is one of the fastest growing discount brokers that started operating in December 2017 and has acquired more than 40 lakh client base in less than 5 years.

Groww started with commission-free mutual funds investment (currently more than 1000 mutual funds listed on the platform) and discount brokerage on stock investment.

Groww offers brokerage starting at 0.05% which goes up to Rs. 20 per order on equity delivery and Intraday. You can also trade in equity options at a flat brokerage of Rs. 20 but Groww doesn’t offer commodities & currency trading.

Apart from that, you can invest in ETFs, IPOs, and Gold bonds from the Groww platform. You can also invest in US Stocks with Groww as it started offering US stock investment options in 2021.

So, if you are a beginner who wants to invest in stocks, mutual funds, and US stocks but has no interest in commodities and currency trading, then Groww could be a good option for you.

Brokerage charges in Groww

Groww demat account charges

• Groww account opening charges – ZERO
• Groww Account maintenance charges – ZERO

Groww Demat Charges & Fee Detials

Important Groww queries

#1. What is Groww customer care mobile number in India

Groww customer care number is +91 9108800604

#2. is Groww app safe

Yes, the Groww app is safe for mutual funds as well as stock investments. Because Groww is a registered SEBI broker with Registration no. INZ000208032 and, an AMFI registered mutual fund distributor with Registration no. 111686. 

In technical terms, the Groww app is very much safe as it uses high-level protection with 128-bit encryption to secure your personal information and transaction details on the internet.

#3. How to close Groww Demat account

If you are looking for how to delete the Groww account, then go to your Groww app and raise a ticket in the help section or call on +91 9108800604.

#4. How to withdraw money from Groww

You can withdraw money from the “Groww balance” section under the “You” tab in your Groww app.

#5. What’s the intraday margin in Groww

Groww offers up to 5x intraday margin in the equity segment.

#12. Paytm Money

Paytm Money is the cheapest broker in terms of brokerage charges as shown below –

• Equity Delivery – 0.01% per executed order
• Intraday – 0.05% or Rs. 10 per order
• Equity Futures – 0.02% or Rs. 10 per executed order
• Equity Options –  Rs. 10 per executed order

Similar to Groww, Paytm money also doesn’t offer commodity and currency trading.

But you can invest in mutual funds, IPOs and Paytm money has also introduced NPS investment. 

NPS is a National Pension System in which you invest till your retirement or the age of 60, and you get a regular income post retirement as a pension. You can invest up to Rs. 2 lakhs in NPS annually to get a tax deduction of up to Rs. 50,000.

Paytm Money Brokerage Charges

Paytm Money demat account charges

• Paytm Money account opening charges – ZERO
• Paytm Money AMC charges – Zero
• Paytm Money Platform charges – Rs. 300 per year

Paytm Money Charges & Fee details

Paytm Money customer care number

Paytm Money didn’t provide any customer care number on their portal. However, you can contact the support team through email at [email protected] or [email protected].

If your issue doesn’t get resolved within 15 days of escalation, you can contact their compliance officer at [email protected].

#13. Edelweiss Demat Account

Edelweiss is a full-service broker with more than a 12 lakh client base that offers brokerage with advisory services at reasonable rates. 

Edelweiss has two plans – 

I. Edelweiss Lite Plan

It’s a discount brokerage plan where you pay a flat brokerage of Rs.10 per executed order across the segments.

You don’t get any advisory services from the Edelweiss research team in the Lite plan.

II. Edelweiss Elite Plan

The Edelweiss Elite plan is a full-service model, you have to pay brokerage on the percentage of the executed order such as 0.30% for equity delivery and 0.03% for equity intraday and equity futures.

However, you get other services like Call n Trade, Pay-in, and Pay-out free. 

Edelweiss offers free AMC for the 1st Year and Rs.300 per annum is charged from the 2nd year onwards.

Edelweiss charges high brokerage on options trading such as Rs. 75 per lot on Equity Options & Rs. 20 per lot on Currency options, which is a major disadvantage as other competitors like Zerodha, and Upstox, offer options trading at a much lower cost.

Brokerage charges of Edelweiss

Edelweiss account opening charges

• No account opening charges

Edelweiss annual maintenance charges

• ZERO for 1st year, then Rs. 500 per year

Other Edelweiss charges

Important Edelweiss queries

#1. What’s the Edelweiss customer care number

You can contact Edelweiss customer care at 1800 102 3335.

#14. Kotak Securities 

Kotak is an established full-service broker in the industry with more than 25 years of experience and around 25 lakh customer base.

Kotak Securities offers tailormade brokerage plans to cater different investor or trader segments.

Kotak Securities brokerage plans are as below –

• Kotak Securities No Brokerage Plan – Zero brokerage on all segments for youth under 30 age but there are annual charges of Rs. 499. The plan has a validity of 2 years after which you will be moved to a Trade Free plan.
• Kotak Securities Trade Free Plan – Equity Intraday trading is FREE but you have to pay Rs. 20 per order for currency & commodities trading. Brokerage for equity delivery is charged at 0.25% of the transaction value.’
• Kotak Securities Trade Free Max – Suitable for margin traders where you get margin at 8.75% p.a. Interest rate. Brokerage rates are similar to Trade free plan.
• Kotak Securities Dealer Assisted Plan – If you need hand holding with a dedicated dealer to help you make investments or trading strategies. But you have to pay a high brokerage of 0.39% on equity delivery & 0.039% on equity intraday.

If you have a savings account in Kotak Mahindra bank, you can avail of a 3-in-1 account (Kotak Trinity) that would serve you savings, demat, and trading account in one place. Trinity account ensures faster funds transfer between savings and trading accounts.

Kotak Securities Brokerage Charges

Kotak Securities account opening charges

• No account opening charges

Kotak Securities annual maintenance charges

• Kotak Securities AMC charges – Rs. 50 per month

Other Kotak Securities Charges

Kotak Securities customer care number

You can connect with Kotak Securities support team at 1800 209 9191

#15. IIFL Securities

IIFL Securities is a part of the India Infoline group that is also the parent company of 5paisa. IIFL securities is a full-service broker that provides you with research advisory services at low brokerage fees.

IIFL has an iServe plan that offers a discount brokerage of Rs. 20 per order for equity delivery, Intraday, F&O, currency & commodity trading.

IIFL has also started global stock investment services with zero account opening fee and first trades free every month.

IIFL Securities Brokerage Charges

IIFL Demat account charges

• Account opening charges – ZERO
• Account maintenance charges – ZERO for 1st year, then Rs. 250 per year

IIFL Securities customer care

You can check out the IIFL securities customer care options mentioned below –

• Customer care number – +91 22 4007 1000
• WhatsApp number – 9289903000
• Email – [email protected]
• Grievance redressal – [email protected]

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.