Today Investment and financial securities such as stocks, bonds, government securities, and ETFs are held in “Dematerialized” form in Demat accounts. Financial securities can be securely stored digitally in Demat accounts, allowing quick, simple, and easy online trades.
You should have a good Demat account for that, one which supports all needs of all customers and is reliable and secure.
In India, there are many Demat account providers, making it difficult to select one. The Top Demat Accounts in India are listed here, along with information on their key features, pricing, pros, and cons.
What is a demat account?
A Demat Account, also called a Dematerialized Account, provides the ability of holding shares and securities in an electronic format. Shares are bought and held in a Demat Account during online trading, making it simple for users to trade. A Demat Account holds all of an individual’s investments in bonds, mutual funds, exchange-traded funds, shares, and government securities in one place.
7 Best demat account app in india
1 – ICICI Direct Demat Account
The best demat account is for small traders or existing ICICI Bank customers.
The user interface of ICICI Direct can be easily customized according to the needs of the user, making one of the most useful Demat accounts in India. They provide you with the option of a 3-in-1 Demat account experience, where your ICICI Bank account and ICICI Direct Demat account are integrated.
Based on their specific needs, they allow their customers choose from a variety of plans. For ICICI Bank existing customers, it’s a great option.
Customers can easily access other ICICI products like loans, fixed deposits, and more with an ICICI Direct Demat account.
Best Features
- lets you invest in a variety of commodities, IPOs, equities, mutual funds, and more.
- Get market analysis and research reports.
- material for learning.
- Get a 3-in-1 account for trading, banking, and a demat account.
Pros
- Better market research using charts and analytics
- Users are able to track up to 50 stocks with a detailed watchlist.
- supports opening of paperless account
Cons
- For small investors, high brokerage fees.
Trading Charges
There is no brokerage charge while buying securities at ICICIdirect.com. However, a brokerage fee of 0.04% of the securities’ value is charged for every sell transaction.
Website Link
2 – Zerodha
It is the largest and most reputable bargain broker, with over 30 lakh users. The main reason in its success is that it provides superior customer service than other discount brokers.
Its less cheaper brokerage cost is 0.03 per executed order, or Rs. 20 per completed order, whichever is less. You can save up to 90% if you trade quickly compared to other full-service stockbrokers. There are no restrictions on the stock delivery trade in this location.
With Zerodha, you will obtain trading platforms with complex charts and other tools for technical analysis.
Best Features
- Data from market research and advanced charts to help you in trading.
- The Zerodha Varsity mobile app helps in trading learning.
- allows you to create your own trading platform.
- Using Coin by Zerodha app, you can directly trade mutual funds.
Pros
- There is no per-transaction minimum brokerage cap.
- Completely free delivery is provided. No brokerage fee is charged upon delivery.
- Allow a 4 to 15-fold margin.
- Fastest, most reliable, and user-friendly Demat and trading account
Cons
- Account opening charges of 200 rupee.
Trading Charges
For all intraday trades in equities, currency, and commodity, a flat fee of Rs. 20 or 0.03% (whichever is lower) is charged per executed order.
Website Link
https://zerodha.com/open-account/
3 – Choice App
Choice is a fantastic cross-platform app that allows you to open a Demat account for free with no annual fees. With this platform, opening a Demat account takes less than 5 minutes. Brokerage charges could even be as low as 2 paisa. Choice charges brokerage for Intraday, Delivery, and Futures on a percentage basis.
On the other hand, a flat fee is taken into consideration while calculating brokerage for options.
Best Features
- Paperless Digital Demat Account
- Free AMC for the First Year
- Free Research Advice
- Quick 4 Step Demat Account Creation
Pros
- offers a wide range of investment products.
- offers its customers simple trading platforms.
- Prompt and proactive customer service.
- Online Demat Account Opening is instant and paperless.
- Zero account opening fee.
Cons
- does not offer services for a 3-in-1 account.
- No Flexi brokerage plans.
- No margin calculator is available.
- No internal trading terminal is available.
Trading Charges
The brokerage charge for trading in equities is 0.2% for delivery and intraday trading, 0.02% for trades in futures, and Rs. 25 per lot.
Website Link
https://choiceindia.com/open-free-demat-account
4 – Sharekhan
Sharekhan is a full-service broker that includes investor education, trading, portfolio management, research, and mutual funds. Presently, the company serves over 2.5 million customers from 3500+ share shops spread across 600+ cities.
Best Features
- Videos and audios to help you understand market trends
- expert market by forecasts.
- learning tools
- services for portfolio management.
- provides you with the ability to trade in futures, options, FX, mutual funds, ETFs, and stocks, among many other commodities.
Pros
- Online bank account transfers and fund payout to bank accounts are free on Sharekhan.
- For DP transactions, Sharekhan does not charge. Transferring shares to and from the dp account is free.
- Sharekhan has a network of branches all over India. There is surely a Sharekhan in your neighbourhood.
- The Call & Trade facility on Sharekhan is free.
- Fixed deposits are allowed by Sharekhan as collateral for future and option trading.
Cons
- As Sharekhan does not provide banking services, they do not offer 3-in-1 account.
- In comparison to flat fee brokers, the brokerage charges are based on a %, which is more costly.
- The minimum brokerage charge is 10 paisa per stock, and they won’t let you trade stocks for less than Rs 20.
- Classic account holders are unable to trade commodities.
Trading Charges
The brokerage charge for Sharekhan is 3 paisa per 100 paisa of an intraday transaction. The amount for delivery is 30 paise per 100 paise.
Website Link
5 – Motilal Oswal Demat Account
Best helpful for getting research-based investment advice
To provide customers the best advice, Motilal Oswal does in-depth research. They also provide portfolio management services to help you in managing your entire portfolio and taking the right decisions.
It is one of India’s oldest demat account financial service providers. Their experience in financial services like Demat accounts is unmatched and hard to match. Motilal Oswal has more than 1700 branch locations to provide support and assistance.
It is now one of the best Demat accounts in India due to these features. Motilal Oswal allows its to choose the plans that satisfy these needs, like other trading platforms.
Best Features
- extensive analysis and investment advice on more over 250 companies in more than 20 sectors
- a variety of top-notch financial services
- Leverage facilities in the cash, F&O, and CDS segments.
- one of the best Portfolio Management Services
- simple procedure for opening an account
Pros
- It has over 1700 easily accessible branches across India.
- You can choose from a variety of trading account plans based on your needs.
- Very user-friendly with top-notch online and offline support
- allows funds transfer from 50+ banks
Cons
- Extremely high brokerage charges as compared to discount brokers like Zerodha and 5paisa.
- Although the brokerage in the value pack scheme is competitive, there are up-front costs involved in choosing the plan.
- doesn’t offer a 3-in-1 account.
Trading Charges
The brokerage charges are 0.05%, equal Rs. 0.05, if the security you buy is worth Rs. 100. The full brokerage charge for all trading is Rs. 0.05 + 0.05 = Rs.
Website Link
https://www.motilaloswal.com/open-demat-account/
6 – HDFC Securities Demat Account
One of India’s largest full-service stockbrokers, HDFC Securities was founded in 2000. An HDFC Bank subsidiary is HDFC Securities. Customers can buy, sell, trade, and invest in a variety of financial products, like stocks, bonds, futures, options, buybacks, mutual funds, IPOs, currency derivatives, commodities, stock portfolios, and more.
A broker SEBI-registered, HDFC Securities is a member in the BSE, NSE, MCX, CDSL, and NSDL.
To make the investment process as simple as possible for consumers, HDFC Securities offers trading services on a variety of platforms.
Over 1,800,000 clients in various industries are served by HDFC Securities, which has over 30 products to offer. The company has about 270 locations over India.
Best Features
- While keeping track of your investments, HDFC Bank Demat Service offers you with a safe, convenient, and online experience.
- No charges are assessed when opening a Demat Account with HDFC Bank Ltd.
- Demat account maintenance fees of Rs. 750 are waived for the first year.
- For transfer of securities held in Demat account, no stamp duty is required.
- Settlement of securities traded on exchanges and off-market transactions
- With HDFC Demat services, the shorter the settlement, the greater the liquidity
Pros
- There is an integrated 3-in-1 account available. This makes the HDFC trading platform extremely convenient.
- Online investments in IPOs, mutual funds, GOI bonds, insurance, and postal savings plans are all accessible from one website.
- Trading is available in both the BSE and NSE.
- Excellent trading platform for beginners.
Cons
- no commodity trading.
- High Demat Account maintenance costs as compared to the alternatives.
Trading Charges
Brokerage – 0.10 % or a minimum of 25 ₹ or a 2.5% ceiling on the transaction value (Both Buy & Sell)
Website Link
7 – Kotak Securities Demat Account
India’s Kotak Securities Ltd, which was founded in 1994, is a full-service stockbroker that offers retail investors with a 3-in-1 account (bank, trading, and demat account). Investors are able to invest in mutual funds, stocks, and derivatives (stocks, commodities, and currencies).
Research, margin trade financing, depository services, portfolio management services (PMS), and third-party goods such as insurance are also available. Moreover, the company offers direct access to US markets.
Having 153 locations and 1332 franchisees, Kotak Securities serves customers in 361 cities.
Best Features
- Trinity accounts allow for seamless transactions between trading and demat accounts.
- Simple online and offline access to your shares, bonds, mutual funds, and other holdings.
- It’s simple to convert your physical assets into digital form and other formats.
- Automatic dividend credits are made to the linked bank account.
- Online portfolio management is simple.
- Almost all Indian towns and cities have branches that provide local customer support.
Pros
- A 3-in-1 account is offered through Kotak Securities.
- trusted service for more than 25 years.
- Online discount brokerage plans at low cost are available.
- For investors under the age of 30, there is no brokerage plan.
Cons
- Only investors under the age of 30 are available for a widely publicised Zero Brokerage Plan.
- High brokerage charges for equity delivery.
- Dealer assisted brokerage plan with very high brokerage.
Trading Charges
Brokerage: Rs 49. STT: Rs 12.63. Re 0.15 for SEBI turnover fees. Duty on stamps: Rs 2.
Website Link
https://www.kotaksecurities.com/
What factors to consider while selecting a trading app?
- simplicity in opening:
It’s very easy to use E-KYC, which involves validating the investor’s account using an Aadhar card. The only thing required is a self-identification, which may be done over a video call as well. The only requirement is that a trade must be executed within 48 hours.
- Cost-efficient accounts:
Demat accounts are not completely free; there is a cost associated with it. Most financial institutions or DPs charge the account, even though the investor hardly makes transactions. Some brokers may even charge a fee based on the number of trades you make, and some even charge for each transaction. Therefore, it’s important to compare costs before making a choice.
- The software’s usability and importance of UX:
The software you use to execute your trades will not be difficult to understand or take too long to load. Your DPs site or app should make it simple to complete a transaction, including real-time buying and selling without much hassle, considering as volatile and quickly growing market. Investors should get timely updates from them as well.
- Providing the necessary information:
DPs owe it to their investors to provide detailed analysis which illustrates the most current market trends. Direct call-to-action buttons, industry-specific concentration, real-time data, and analytics are all necessary aspects of trading for an investor. Investors can make use of the data by getting regular updates and displaying it on the trading site. Before choosing a Demat account, these value additions must be carefully considered as they provide significant benefits.
- Intraday trading and square off timing:
The timing of the broker’s squaring off positions is yet another important factor for novice investors. When you begin trading intraday, you should be aware of this as it usually occurs a few hours before market closure.
Conclusion
Choosing the Best Demat Account is a complex job. The data given above for each of the brokers, however, We hope you can make a wise choice for the Demat for yourself.
You can compare and check all parameters. After that, you can open a Demat account if you are very sure about it.
Make sure you look over each detail while choosing the option that best suits you.
