Five best Demat account services in India
A Demat account, short for “Dematerialised account,” is an essential tool for buying and selling financial securities such as stocks and Equity Traded Funds (ETFs). The account holds securities electronically, eliminating the need for physical share certificates.
To open a Demat account, you need to link your bank account to it, enabling you to buy and sell shares easily without having to transfer share certificates physically. This not only saves time but also reduces transaction costs
Here are our five best top demat account service providers in India
1. Zerodha
Zerodha, with over 5 million customers, is one of the best online Demat accounts in India. It offers a trading and depository account, along with market data and comprehensive charting tools to assist you in making informed investment decisions.
The account also provides access to commendable market research instruments.
Features:
- Access to market research data and advanced charts to aid trading
- Zerodha Varsity smartphone app for learning about trading
- Option to create your own trading platform
- Ability to trade mutual funds directly through the Coin by Zerodha app
Pros:
- High-quality tools for market research
- Option to create a custom trading platform
- Reasonable fees
- Learning app available
Cons:
- Only covers the Indian market
- No investor protection
Pricing for Demat account :
The account Opening Charge is Rs 200
Account Maintenance Charges are Rs 300 per year
2. ICICI Direct Demat Account
The ICICI Direct Demat Account is an online Top demat account platform that offers access to both domestic and international markets.
With this account, you can trade a variety of assets, including stocks, mutual funds, fractional shares, and more.
In addition to the trading capabilities, the ICICI Direct Demat Account also provides market knowledge and research tools to assist you in making informed investment decisions.
Features:
- Ability to trade stocks, mutual funds, currencies, IPOs, commodities, and more
- Access to market research and insights
- Learning materials for investors
- Option to invest in fractional shares of the global market
- A three-in-one account that includes banking, trading, and Demat accounts
Pros:
- Option to invest in fractional shares
- No minimum balance requirement
- Ability to invest in international stocks
Cons:
- High brokerage fees for small investors
Pricing:
Account Opening Charges: Nil to ₹975
Account Maintenance Charges: Nil for the first year, ₹700 from the 2nd year
3.Upstox
Upstox is a digital Demat account that offers a range of investment options such as stocks, mutual funds, digital gold, futures, and more. The account allows paperless trading and also provides real-time updates on the trading market with the help of charts to aid decision-making.
Upstox is a reliable and secure Demat account available in India, which is preferred by many as it provides zero-commission trading, helping to save brokerage fees.
Features:
- Digital demat account
- Real-time market updates with the help of charts
- One account to track all stocks and mutual funds
- Easy process to open an account with a bank
- Option to invest in digital gold
Pros:
- Zero-commission trading
- Low investment amount starting from just ₹1
- Trading from anywhere in the world
Cons:
- Some customers have faced dissatisfaction with market crashes due to market swings
Price:
No account maintenance fees
No account opening fees
No commission charges
Brokerage fee is ₹20
4. Sharekhan Demat Account
Sharekhan Demat Account is a comprehensive trading platform that offers portfolio management, market research, and learning resources for both novice and expert traders.
It is a great choice for those looking for a top-notch Demat trading account in India. Sharekhan allows you to trade a wide range of assets, including stocks, bonds, mutual funds, and more.
Additionally, you can enlist professional services to manage and rebalance your portfolio.
Features:
- Audio and video aids to help you comprehend market trends
- Expert market forecasts
- Learning resources
- Portfolio management services available
- You can trade stocks, bonds, mutual funds, ETFs, FX, futures, and options on this platform.
Pros:
- Notifications when your preferred stocks’ prices fluctuate
- Round-the-clock customer service
- No minimum deposit required
- Expert portfolio rebalancing
Cons:
- The account opening process can be time-consuming.
Price:
Account opening fee: Nil
Account maintenance fee: Nil for the first year.
5.Angel Broking
Angel Broking is a leading discount broker that provides valuable investment advice, research-driven suggestions, and analytics to its customers. It is one of the best Demat accounts in India,
offering essential services, an intuitive user interface, and the Angel One app. Moreover, their investment advisory and apps are available to all investors free of charge.
Angel Broking is the Best demat account in india provides multiple plans to its customers, allowing them to choose based on their specific needs.
Their portfolio management services (PMS) and trading services are some of the best in the market. The Angel Broking Demat Account opening process is entirely free, online, and fast, making it a popular choice among investors.
Features:
- Investment advice and research-driven suggestions are available to all users free of charge
- Offers multiple plans for customers based on their specific needs
- Provides an intuitive user interface and the Angel One app
- Offers portfolio management services (PMS) and trading services
Pros:
- Investment advice and research-driven suggestions are available for free
- Multiple plans are available for customers to choose from
- Offers an intuitive user interface and the Angel One app
- Provides portfolio management services (PMS) and trading services
Cons:
- None mentioned
Price:
Account opening charges: Nil
Account maintenance charges: Nil for the first year
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Conclusion:
Choosing the right demat account service is crucial for a smooth and successful trading journey. Each of the above-mentioned demat account services excels in its own unique way, catering to the diverse needs of investors in India.
Whether you are a seasoned trader or a beginner taking your first step into the stock market, these top demat account providers offer a range of features, tools, and resources to enhance your trading experience.
Before finalizing your choice, consider your investment goals, trading preferences, and the specific features that align with your requirements.
Remember to conduct thorough research and compare different demat account services to make an informed decision.
FAQs :
Que 1. What is a demat account?
Ans. A demat account is an account that holds securities such as stocks, bonds, and mutual funds in electronic form. It is used to facilitate the trading and investment of these securities in a convenient and secure manner.
Que 2. What are the benefits of opening a demat account?
Ans. Opening a demat account offers several benefits such as:
- Safe and secure storage of securities
- Elimination of paperwork and physical certificates
- Faster and more convenient trading and settlement of securities
- Ability to access your account and track your investments online
Que 3. Which are the best demat account providers in India?
Ans. There are several demat account providers in India such as Zerodha, Upstox, Angel Broking, HDFC Securities, ICICI Direct, and Sharekhan. Each of these providers has its own strengths and weaknesses, so it’s important to evaluate them based on your specific needs and preferences.
Que 4. How do I open a demat account in India?
Ans. To open a demat account in India, you will need to follow these steps:
- Choose a demat account provider and visit their website
- Fill out the account opening form and provide the required documents such as PAN card, Aadhaar card, and bank account details
- Complete the process by providing your personal information
- Once your application is approved, you will receive your account details and login credentials.
- You can then start trading and investing in securities through your demat account.
Que 5. How do I choose the best demat account in India?
To choose the best demat account in India, you should consider factors such as:
- Brokerage fees and other charges
- User interface and trading platforms
- Customer service and support
- Security features and reputation of the service provider
- Availability of research and analysis tools