14 BEST Demat Account In India [2024 RANKING]

Review and compare the top features and ratings of well-known Demat Accounts In India to find out which is the best Demat account for trading:

To overcome the lengthy and troublesome process of buying and selling shares through paperwork, a Demat account was introduced.

Demat word denotes ‘dematerialization’. A Demat account dematerializes the shares and securities so they can be possessed in electronic form and can be traded digitally, from anywhere. It also reduces the risk of fraud or thefts involved with the trade done through the paperwork.

Without a Demat account, you cannot own or trade in shares. This is because, in the year 1996, the Securities and Exchange Board of India (SEBI) had issued an order stating that it is mandatory for all investors to have a Demat account if they want to trade in shares.

Demat Accounts In India

In this article, you will get to know about the top best Demat Accounts in India so that you can decide which one is the best according to your requirements.

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Recommended Financial Planning Service

Fincart

Best for: Comprehensive guidance on Investment by experts

Most folks keen on opening a demat account do not possess the intuition or expertise necessary to manage their investments optimally. This is where services like Fincart come into play. The comprehensive financial planning and investment advisory services that Fincart offers are something I highly recommend to aspiring and experienced investors alike.

Fincart is currently home to a seasoned team of experts and consultants with profound insight into India’s current market trends and regulations related to trading. These professionals know how to effectively leverage this information to your benefit. They will arm you with a well-crafted investment plan that’s tailored to your financial goals and risk tolerance.

From risk assessment to portfolio management, the experts at Fincart will plan and advise you at each stage of your journey as an investor. You can count on their guidance to help you make informed investment decisions in a bid to maximize your returns while keeping your tax liabilities at bay.

If you wish to skillfully navigate the complexities associated with investment planning, I suggest you consider hiring the advisory services offered by Fincart.

What Customers Have to Say about Fincart

The company is highly revered among investors who’ve praised it for their professionalism and transparent fee structure. Customers also consider the prompt and attentive nature of consultants to be a highlight of Fincart’s services.

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List of the Best Demat Account in India

Here is the list of popular and best trading accounts:

1. Upstox
2. Zerodha
3. Paytm Money
4. INDMoney
5. ICICI Direct Demat Account
6. Angel Broking
7. 5Paisa
8. Sharekhan
9. IIFL
10. Motilal Oswal
11. HDFC Securities
12. Kotak Securities
13. Religare
14. SBICAP Securities Demat Account
15. Axis Direct
16. SAS Online
17. Choice

Comparing Top Demat Trading Accounts

Trading account reviews:

#1) Upstox

Best for saving you from high brokerage fees.

Upstox Demat Account lets you trade in shares, mutual funds, digital gold, futures and more, with the help of a digital account. The app also helps you make better decisions by providing you with information about the market through charts.

Top Features:

• Paperless, digital Demat account.
• Get live insights into the trade market.
• One account to manage and monitor your stocks and mutual funds.
• Easy way to open an account.
• Lets you invest in digital gold.

Pros:

• Zero commission investing.
• Invest with as low as 1.
• You can trade from anywhere.

Cons:

• Some users complain about crashes of heavy market movements.

Why you want this app: Upstox is one of the safest trading apps. Zero commission trading is a big plus point of Upstox.

Android Ratings: 4.4/5 stars (2 Lakh ratings)
Android Downloads: 1 Crore +
iOS Ratings: 4.3/5 stars (8.9k ratings)

Price:

• Zero commission for investing in stocks, mutual funds, and digital gold
• 0.05% or up to 20 for all Intraday & F&O, Currencies & Commodity Orders

Visit Upstox Website >>

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#2) Zerodha

Best for market research tools.

Zerodha is the best Demat account in India, having more than 5 million clients. It offers you a trading and Demat account, with market data and advanced charts to help you make wise investment decisions.

Top Features:

• Market research data and advanced charts to help you in trading.
• Zerodha Varsity mobile app helps you learn about trading.
• Lets you build your own trading platform.
• Coin by Zerodha app permits you to trade in mutual funds directly.

Pros:

• High-quality market research tools.
• You can build your own trading platform.
• Affordable fees
• Learning app

Cons:

• 200 account opening charges.

Why you want this app: Zerodha has all that you want in a Demat account. The market research tools are praiseworthy. A separate learning app is also useful.

Android Ratings: 4.2/5 stars (2 Lakh ratings)
Android Downloads: 50 Lakh +
iOS Ratings: 3.3/5 stars (1.7k ratings)

Price: No brokerage charges for equity delivery.

Visit Zerodha Website >>

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#3) Paytm Money

Best for Cost savings and real-time market information.

Paytm Money makes it to my list because of its user-friendly design and price-alerting capabilities. The design is what helps the app simplify trading significantly. You can use the app to make informed investment decisions, thanks to the real-time market information you are constantly provided. 

Features:

• Real-time market data
• Leverage SIP features to invest on a weekly or monthly basis
• Get alerts when stocks cross a price. 
• Access to advanced charts and indicators. 
• Good Till Triggered Orders

Pros:

• No charges to open a Demat Account
• Real-time market information
• No platform fees

Cons:

• New users may find the tool confusing to use initially. 

Why you want this app: Paytm Money shines as an app you can use to make informed investment decisions. It is practically free to use and ideal for those trading in stocks, mutual funds, and NPS Retirement Funds.

Best for: Real-time Market insight
Android Ratings: 3.9/5
Android Downloads: 10 M +
iOS Ratings: 4.4/5

Price: No platform fees or charges for opening an account. 2.5% of turnover or Rs. 20 per executed order is charged, whichever is lower. For Futures and Options, up to Rs. 20 per executed order is charged.

Visit Paytm Money Website >>

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#4) INDMoney

Best for Automatic management of investment portfolio.

INDMoney excels at consolidating one’s investment portfolio and helping users manage their investments automatically from a single place. You can rely on the app to easily invest in the stock market, IPO, FD, and SIPs. You can also depend on INDMoney to invest in the US stock market directly from India. 

Features:

• Investment portfolio management
• Mutual Fund investment
• Manage family accounts
• Financial Goals Calculator

Pros:

• Simplified onboarding
• Zero charges to open an account
• Automate SIPs across 5000+ stocks and 160+ EFTs. 
• Track Demat Accounts at no cost

Cons:

• The customer service could be faster in their response. 

Why you want this app: INDMoney lets you set up a Demat, investment, and Zero AMC account for free. Plus, you can use the app to invest in both the Indian and US stock markets with ease.

Android Rating: 4.6/5
Android Downloads: 10 M+
iOS Rating: 4.7/5

Visit INDMoney Website >>

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#5) ICICI Direct Demat Account

Best for offering a 3-in-1 account.

ICICI Direct Demat Account is a digital platform that lets you invest in domestic as well as the global market. You can trade in equities, mutual funds, fractional shares, and much more.

Top Features:

• Lets you trade in equities, mutual funds, currencies, IPOs, commodities, and more.
• Get market insights and research reports.
• Learning material.
• Invest in fractional shares of the Global market.
• Get a 3-in-1 account: for banking, trading, and Demat account

Pros:

• Fractional shares.
• No minimum balance is required.
• Invest in global shares.

Cons:

• High brokerage charges for small investors.

Why you want this app: ICICI Direct Demat Account gives you market insights to help you in investing, lets you trade in fractional shares of the global market, and much more.

Android Ratings: 2.7/5 stars (25 Trillion ratings)
Android Downloads: 10 Lakh +
iOS Ratings: 1.8/5 stars (889 ratings)

Price:

• Margin funding starts at 8.9% per annum.
• 35 per order brokerage

Visit ICICI Direct Demat Account Website >>

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#6) Angel Broking

Best for portfolio management by experts.

Angel Broking Demat Account was founded in 1987. It gives you proper research tools for investing your valuable money. You can trade in equities, mutual funds, futures and options, currencies, commodities, and IPOs.

Top Features:

• Gives you a wide range of trading options.
• You do not need to give your details in each transaction.
• 100% online account opening process.
• Available in English as well as in the Hindi language.
• Get your portfolio managed by experts.
• Get a readymade portfolio.

Pros:

• Zero brokerage on all segments.
• Free equity delivery trade for a lifetime.
• Fractional investment.
• Readymade curated portfolios.
• No account management charges for the first year.

Cons:

• The customer service is reported to be not up to the mark.

Why you want this app: Angel Broking Demat Account can be a good option for beginners who want their portfolio to be managed by experts. If you want to invest with a very less amount of money, you can invest in fractional shares.

Android Ratings: 4.2/5 stars (2 Lakh ratings)
Android Downloads: 1 Crore +
iOS Ratings: 3.5/5 stars (14k ratings)

Price:

• Free equity delivery trades for a lifetime.
• Flat 20 or 0.25% (whichever is lower), per executed order, for Intraday, Futures and Options, Commodities & Currencies
• Monthly Account management charges- 20 (Free for the first year)

Website: Angel Broking

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#7) 5Paisa

Best for beginners.

5Paisa Demat Account can be termed as the best Demat account because of the features that it offers to its users. It gives you several trading options, market research tools, learning tools, portfolio analysis tools, and much more.

Top Features:

• Lets you trade in mutual funds, gold, commodities, US stocks, and more.
• Market research tools.
• Portfolio analysis tools
• Learning about the market through simplified courses.
• Lets you open a joint Demat account with three members.

Pros:

• No commission on mutual funds’ investments.
• Learning tools
• Market research
• Portfolio analysis tools

Cons:

• Server issues in peak hours of trading.
• Trading through calling is costly.

Why you want this app: 5Paisa Demat Account can be an excellent choice for anyone who wants a variety of options to trade-in. Market research tools and portfolio analysis features are the main attractions.

Android Ratings: 4.2/5 stars (2 Lakh ratings)
Android Downloads: 50 Lakh +
iOS Ratings: 4/5 stars (10.5k ratings)

Price:

• 20 per order brokerage charges (Stocks, Commodities, Currencies).
• 0 commission on mutual funds.
• A Power Investor pack is priced at 499 per month.
• An Ultra Trader pack is priced at 999 per month.

Website: 5Paisa

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#8) Sharekhan Demat Account

Best for beginners as well as advanced traders.

Sharekhan Demat Account is an all-in-one trading platform that has tools for learning, portfolio management, market research, and much more.

Top Features:

• Audios and videos for understanding market trends.
• Market forecasts by experts.
• Learning tools.
• Portfolio management services.
• Lets you trade in stocks, bonds, mutual funds, ETFs, forex, futures, and options.

Pros:

• Notifies you about the prices of your favorite stocks.
• 24/7 customer service.
• No minimum deposit is required.
• Portfolio rebalancing by experts.

Cons:

• Time taking account opening process

Why you want this app: If you want the best trading account, Sharekhan can be a very valuable option. It lets you trade in stocks, bonds, mutual funds, and much more. You can also get your portfolio managed and rebalanced by experts.

Android Ratings: 3.8/5 stars (53 Trillion ratings)
Android Downloads: 10 Lakh +
iOS Ratings: 2.8/5 stars (2.4k ratings)

Price:

• Annual maintenance charges for the Demat Account is 400. (Free for the first year)
• The brokerage charges are:
  • 3 paise per 100 paise for each intraday transaction.
  • 30 paise per 100 paise for delivery.

Website: Sharekhan Demat Account

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#9) IIFL Demat Account

Best for affordable trading.

IIFL Demat Account has been there in the industry for 25 years. It lets you open a Demat account for free and gives you market analysis tools so that you can invest when you are well aware of the market trends.

Top Features:

• In-depth market research.
• Portfolio management.
• Trade in equities, currencies, IPOs, mutual funds, commodities, and more.
• Price alerts, trading tips, market news, and more, available on your mobile app

Pros:

• 0 delivery brokerage for a lifetime.
• Portfolio management.
• Price alerts
• Research and analysis tools.

Cons:

• Brokerage charges are reported to be higher as compared to others.

Why you want this app: IIFL Demat Account has some likable features to offer to its users. Price alerts and portfolio analysis tools can be very beneficial.

Android Ratings: 4.1/5 stars (78 Trillion ratings)
Android Downloads: 50 Lakh +
iOS Ratings: 4.1/5 (3.4k ratings)

Price:

• 20 per order for Intraday, F&O, Currency, and commodity.
• 450 per annum account maintenance charges (Free for the first year)
• 295 account opening fee.
• 0 delivery brokerage for a lifetime.

Website: IIFL Demat Account

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#10) Motilal Oswal Demat Account

Best for market analysis reports.

Motilal Oswal is a trading app for investors and traders, which has 20+ years of experience in the trading and investment industry. Their market analysis reports have been the talk of the town for some time.

Top Features:

• Personal advisor.
• A wide variety of assets to invest in.
• Easy account opening process.
• Lets you invest with a single click.
• Market analysis reports.

Pros:

• 0 account management charges
• No minimum balance required
• Free advisor

Cons:

• Brokerage charges are a bit high as compared to the alternatives.

Why you want this app: They offer you a wide range of investment options and high-class market advisory so that you can make maximum profits.

Android Ratings: 3.6/5 stars (43 Trillion ratings)
Android Downloads: 10 Lakh +
iOS Ratings: 3.6/5 stars (1.7k ratings)

Price:

• 0 Account management charges
• Contact directly for brokerage charges.

Website: Motilal Oswal Demat Account

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#11) HDFC Securities Demat Account

Best for an offline advisory feature.

HDFC Securities Demat Account is a 20-year-old trading services provider which lets you trade digitally, thus saving you from the time-consuming and exhausting paperwork.

Top Features:

• Margin trading.
• Market research tools.
• Trade-in currencies, commodities, IPOs, shares, mutual funds, and more.
• Global investment options.
• Place orders on call.

Pros:

• 24/7 customer service
• U.S. stocks to invest in
• Market research tools
• Portfolio tracking features

Cons:

• High Demat Account management charges, as compared to the alternatives.
• No commodity trading.

Why you want this app: HDFC Securities Demat Account is an all-in-one solution for your trading requirements. You can trade in Indian as well as global stocks, get 24/7 customer assistance, and much more.

Android Ratings: 4.3/5 stars (79 Trillion ratings)
Android Downloads: 10 Lakh +
iOS Ratings: 3.7/5 stars (3.7k ratings)

Price: Price plans range from 1500 per year to 1,00,000 per year.

Website: HDFC Securities Demat Account

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#12) Kotak Securities Demat Account

Best for building a low-cost portfolio.

Kotak Securities Demat Account has over 20 million customers. It gives you a 3-in-1 account, market analysis tools and gives tips for better trading.

Top Features:

• Market analysis and recommendations.
• One account linked to your Savings, Trading, and Demat accounts.
• Margin trading facility.
• Invest in small cases and build a low-cost portfolio.

Pros:

• Market analysis
• 3-in-1 account
• Beneficial for small investors
• Global investment

Cons:

• Brokerage charges are high.

Why you want this app: Kotak Securities can be an acceptable option for those who want to invest with a low amount of money or those who are beginners, because of the learning resources and option to invest in smallcases.

Android Ratings: 4.1/5 stars (2 Trillion ratings)
Android Downloads: 1 Lakh +
iOS Ratings: 2.5/5 stars (1.2k ratings)

Price:

• 0 brokerage on Intraday trades
• 20 per order for carrying forward F&O trades
• 0.25% charges for equity and commodity delivery

Website: Kotak Securities Demat Account

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#13) Religare Demat Account

Best for advanced traders.

Religare Demat Account services started in 1982. Religare has 500 branches in different cities. They offer online trading in equities, currencies, commodities, and more.

Top Features:

• Margin facility
• Get market news and research and analysis tools.
• Trade-in equities, mutual funds, currencies, commodities, IPOs, and more.
• 2-in1 online trading and Demat account.

Pros:

• Pay 2500 once and get lifetime free account maintenance.
• Research and analytics.

Cons:

• No 24/7 customer support.

Why you want this app: Religare is a well-established and trusted name in the industry, which offers trading with market research tools, market news, and much more.

Android Ratings: 3.9/5 stars (21 Trillion ratings)
Android Downloads: 1 Lakh +
iOS Ratings: 3.9/5 stars (790 ratings)

Price:

• 400 per annum account management charges (Free for the first year)
• Contact directly for other prices.

Website: Religare Demat Account

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#14) SBICAP Securities Demat Account

Best for trading tips.

SBICAP Securities Demat Account is a web and mobile-based trading platform which offers you learning resources and lets you get help through market analysis tools so that you can make wise decisions about investing.

Top Features:

• Educational resources.
• Market analysis tools.
• Trade-in equities, currencies, and more.
• Tips for trading in stocks.
• A dedicated relationship manager.

Pros:

• Educational resources
• Market analytics
• Trading tips
• Dedicated relationship manager

Cons:

• 850 account opening charges

Why you want this app: SBICAP Securities Demat Account is a part of the well-reputed and trusted SBI group. Their educational resources, market analytics, and trading tips are worthy of terming the app as the best Demat account India has.

Android Ratings: 2.7/5 stars (10 Trillion ratings)
Android Downloads: 5 Lakh +
iOS Ratings: 2.1/5 stars (640 ratings)
Price: Contact directly for prices.

Website: SBICAP Securities Demat Account

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#15) Axis Direct Demat Account

Best for beginners who want to learn the basics of trading.

Axis Direct Demat Account is trusted by over 2 million customers. They offer you several investment opportunities with efficient market research tools to assist you while investing.

Top Features:

• 3-in-1 account for banking, trading, and Demat.
• Trading guidance through research experts.
• Lets you trade in equities, mutual funds, bonds, derivatives, ETFs, and more.
• Educational Resources in the form of webinars, online tutorials, and articles by experts.

Pros:

• 0 account maintenance charges for the first year.
• Market research was done by experts, available for free.
• Educational resources for beginners.

Cons:

• Very high account management charges for non – Axis Bank customers.

Why you want this app: The 3-in-1 account offered by Axis Direct offers free market analytics reports by experts and provides learning resources for beginners.

Android Ratings: 3.1/5 stars (25 Trillion ratings)
Android Downloads: 10 Lakh +
iOS Ratings: 2.7/5 stars (1.1k ratings)

Price:

• Account maintenance charges for Axis bank customers: 750 per year (Free for the first year)
• Account maintenance charges for non- Axis Bank Customers: 2500 per annum
• 20 per executed order brokerage fee

Website: Axis Direct Demat Account

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#16) SAS Online

Best for active traders.

SAS Online is a trading platform, which gives you a powerful app that lets you buy or sell instantly and thus grab maximum profits during market fluctuations.

Top Features:

• 300+ stocks are available for trade.
• Lets you buy delivery of up to 4 times your order value.
• Gives you the latest market news and updates.
• Lets you buy or sell instantly.

Pros:

• Saves trading costs.
• Market scanners and expert advisors.
• Instant trading.

Cons:

• No commodity trading.
• Customer support is available through email only.

Why you want this app: SAS Online can be a likable option for active traders. It offers you affordable trading options and some very cool features.

Android Ratings: 3.1/5 stars (2 Trillion ratings)
Android Downloads: 50 Trillion +
iOS rating: 1.8 (57 ratings)

Price:

• 9 per trade or 999 per month
• Demat account management charges- 200 per annum (+GST)
• 200 account opening charges.

Website: SAS Online

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#17) Choice

Best for Low Brokerage and DP Charges.

Choice is a fantastic cross-platform app that allows you to open a Demat account for free with absolutely no annual charges. Opening a Demat account takes less than 5 minutes with this platform. Moreover, brokerage charges can go as low as 2 paisa. Choice charges brokerage on a percentage basis on Intraday, Delivery, and Futures.

On the other hand, brokerage for Options is calculated by taking a flat fee into consideration.

Top Features:

• Paperless Digital Demat Account
• Free AMC for First Year
• Free Research Advisory
• Quick 4 Step Demat Account Creation

Pros:

• Excellent phone and email support
• Low Brokerage Charges
• Low DP Charges
• Dedicated research team assigned at no extra cost.

Cons:

• Needs a smoother UI.

Why you want this app: Choice boasts a 25+ year long experience in the trading industry and allows you to open a free Demat account at no annual charge.

Android Rating: 3.5/5 (More than 8.51K reviews)
Android Downloads: 500K +
iOS Rating: 4/5

Price: Free to open Demat account, 0.02% on all Futures, Intraday, and Delivery orders.

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Frequently Asked Questions

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Conclusion

Our detailed study of the top Demat accounts in India brings us to the following conclusions:

• The introduction of Demat accounts has saved much of people’s time by letting them do the trading digitally, without involving the troublesome paperwork.
• Upstox and Zerodha are the best Demat accounts in India.
• The feature of instant buying and selling can give high profits in volatile market conditions.
• Learning resources and expert advice are the features that a beginner must look for while choosing a Demat account.
• Brokerage per executed order should be as low as possible.

Also read => Testing Banking applications

• Time taken to research this article: We spent 12 hours researching and writing this article so you can get a useful summarized list of tools with a comparison of each for your quick review.
• Total tools researched online: 22
• Top tools shortlisted for review: 14