14 BEST Demat Account In India [2021 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 risks 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

Top Demat Accounts

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.

Pro Tip: You should always look for a well-established Demat account provider to reduce the risk of fraud. Plus, high-quality market analysis tools or trading tips provided by experts can be extremely useful.
Facts Check: As per a report published by Livemint.com on 9th May 2021, the Fiscal Year 2021 (April 2020 – January 2021) alone has seen an addition of 10.7 million new Demat accounts in India compared to 4.7 million new accounts registered in the Fiscal Year 2020 and around 4 million in the Fiscal Year 2019.

report published by Livemint.com

Frequently Asked Questions

Q #1) What is the use of the Demat account?

Answer: It ‘dematerializes’ the shares or securities that you possess. It lets you possess the assets in electronic form and trade with them digitally, thus saving you from the tiring paperwork.

Q #2) What is the minimum amount to open a Demat account?

Answer: You can open an account even with zero balance. You should also check the account opening charges. Some service providers offer you to open an account with no charges, while some charge rupee200, rupee400, etc.

Q #3) Can we close the Demat account?

Answer: Yes, if you are not using your Demat account, then it is better to close it instead of paying its maintenance charges for no reason.

In order to close your account, you need to download the application from the concerned website, fill it and submit, in person, to the nearest branch of your Depository Participant, along with the KYC documents, while properly stating the reason for the account closure.

Q #4) Which Demat account is best in India?

Answer: Zerodha and Upstox are the most popular, trusted, and reliable Demat accounts in India. Others include Angel Broking Demat Account, Sharekhan, 5Paisa, and Motilal Oswal.

Q #5) Can I buy shares without a Demat account?

Answer: No, you cannot buy shares without having a Demat account. This is because, in 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 stocks or shares.

The reasons behind this step were the lengthy paperwork involved with buying and selling of shares and the large number of frauds that used to take place earlier.

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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. Angel Broking
  4. 5Paisa
  5. Sharekhan
  6. IIFL
  7. Motilal Oswal
  8. HDFC Securities
  9. Kotak Securities
  10. ICICI Direct Demat Account
  11. Religare
  12. SBICAP Securities Demat Account
  13. Axis Direct
  14. SAS Online

Comparing Top Demat Trading Accounts

Tool NameBest forPriceFounded inRating
Upstox Demat AccountSaves you from high brokerage fees. ?0 for trade in stocks, mutual funds and digital gold20085/5 stars
Zerodha Demat AccountMarket research toolsFree equity delivery20105/5 stars
Angel Broking Demat AccountPortfolio management by experts. ?0 brokerage on all segments19964.8/5 stars
5Paisa Demat AccountBeginners?20 per order brokerage charges (Stocks, Commodities, Currencies)20164.6/5 stars
Sharekhan Demat AccountBeginners as well as advanced traders0.50% or 10 paise per share for equity delivery. 20004.6/5 stars

Trading account reviews:

#1) Upstox

Best for saving you from high brokerage fees.

Upstox Demat Account

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 rupee1.
  • 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 rupee20 for all Intraday & F&O, Currencies & Commodity Orders

Website: Upstox


#2) Zerodha

Best for market research tools.

2.Zerodha Demat Account

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:

  • rupee200 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.

Zerodha Demat Account

Website: Zerodha


#3) Angel Broking

Best for portfolio management by experts.

Angel Broking Demat Account

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 rupee20 or 0.25% (whichever is lower), per executed order, for Intraday, Futures and Options, Commodities & Currencies
  • Monthly Account management charges- rupee20 (Free for the first year)

Website: Angel Broking


#4) 5Paisa

Best for beginners.

5Paisa Demat Account

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:

  • rupee20 per order brokerage charges (Stocks, Commodities, Currencies).
  • rupee0 commission on mutual funds.
  • A Power Investor pack is priced at rupee499 per month.
  • An Ultra Trader pack is priced at rupee999 per month.

Website: 5Paisa


#5) Sharekhan Demat Account

Best for beginners as well as advanced traders.

Sharekhan Demat Account

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 rupee400. (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


#6) IIFL Demat Account

Best for affordable trading.

IIFL Demat Account

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:

  • rupee0 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)rupee

Android Downloads: 50 Lakh +

iOS Ratings: 4.1/5 (3.4k ratings)

Price:

  • rupee20 per order for Intraday, F&O, Currency, and commodity.
  • rupee450 per annum account maintenance charges (Free for the first year)
  • rupee295 account opening fee.
  • rupee0 delivery brokerage for a lifetime.

Website: IIFL Demat Account


#7) Motilal Oswal Demat Account

Best for market analysis reports.

Motilal Oswal Demat Account

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:

  • rupee0 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:

  • rupee0 Account management charges
  • Contact directly for brokerage charges.

Website: Motilal Oswal Demat Account


#8) HDFC Securities Demat Account

Best for an offline advisory feature.

8.HDFC Securities Demat Account

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 rupee1500 per year to rupee1,00,000 per year.

HDFC Securities Demat Account

Website: HDFC Securities Demat Account


#9) Kotak Securities Demat Account

Best for building a low-cost portfolio.

9.Kotak Securities Demat Account

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:

  • rupee0 brokerage on Intraday trades
  • rupee20 per order for carrying forward F&O trades
  • 0.25% charges for equity and commodity delivery

Website: Kotak Securities Demat Account


#10) ICICI Direct Demat Account

Best for offering a 3-in-1 account.

10.ICICI Direct Demat 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.
  • rupee35 per order brokerage

Website: ICICI Direct Demat Account


#11) Religare Demat Account

Best for advanced traders.

11.Religare Demat Account

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 rupee2500 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:

  • rupee400 per annum account management charges (Free for the first year)
  • Contact directly for other prices.

Website: Religare Demat Account


#12) SBICAP Securities Demat Account

Best for trading tips.

12.SBICAP Securities Demat Account

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:

  • rupee850 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


#13) Axis Direct Demat Account

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

13.Axis Direct Demat Account

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:

  • rupee0 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: rupee750 per year (Free for the first year)
  • Account maintenance charges for non- Axis Bank Customers: rupee2500 per annum
  • rupee20 per executed order brokerage fee

Website: Axis Direct Demat Account


#14) SAS Online

Best for active traders.

14.SAS Online

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:

  • rupee9 per trade or rupee999 per month
  • Demat account management charges- rupee200 per annum (+GST)
  • rupee200 account opening charges.

Website: SAS Online


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

Research Process:
  • 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
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