Looking for the top 5 Demat account brokers in India? Check out our list of top 5 Demat account Broker, based on customer reviews and ratings.
Who’s a Demat Account Broker? What is this hype about enhancing trade efficacy with a Demat Account Broker in India? Let’s find out!
As per the data floated by depositories, there was a significant jump of 63% in the active dematerialized accounts in the past 12 months. The number went up to 89.7 million in 2021-2022. But what’s the help really for?
The Demat account concept was introduced to overcome the tiring process of buying and selling shares on paper. The word ‘Demat’ actually denotes ‘dematerialization.’ It is referred to as the digital share trading method.
The electronic trading method efficiently reduces the number of frauds and risks.
Without a Demat Account, it is nearly impossible for traders to hold securities. So, while there are a considerable number of Demat account brokers, which are the top 5 Demat account broker in India? Let’s see!
Contents
Top 5 Demat Account Brokers in India
Let’s look at the list of top Demat accounts in India:
#1. Zerodha
As per Zerodha’s claims, it is the largest stock broker in India. They were the pioneers of price transparency and discount broking concepts in India. They claim to have a flat fee without any hidden charges to it.
Almost a crore of Zerodha clients has a 15% retail order volume through investments in commodity derivatives, stocks and IPOs, Direct mutual funds, bonds and govt, securities, and currency derivatives.
The app’s specialty is mentioned below:
- Free and open market education through varsity (the largest book for stock market education) and Trading Q&A for all market-related queries
- Modern apps and platforms with zero investment and Rs 20 F&O and intraday trades.
- Free delivery of equities with direct mutual funds
| Type | Price | Specification |
| Equity delivery | Rs 0 | Equity delivery investments (NSE, BSE) |
| Intraday and F&O trades | Rs 20 | Intraday trades per executed orders |
| direct MF | Rs 0 | Direct mutual fund investments |
>> Zerodha Frequently Asked Questions
#2. Upstox
As per Upstox, they aim to make trading and investment plans simpler for people. Currently, there are more than 10 million Upstox users, and the app tops the play store rating with a score of 4.5.
The app believes that India is home to trillions of rupees but in the form of unproductive assets. Through this app, Indians can make better use of their wealth.
Upstox allows traders to open a Demat account for trading gold, shares, futures, mutual funds, etc.
The specialty of the app is summed up below:
- Trusted and used by industry veterans like Mr. Ratan TATA and Tiger Global Management
- Provides trading insights to help traders make the right decision
- One can open a Demat account in Upstox and can do it for as low as one rupee
| Account Type | Price | Specification |
| Commissions | Rs 0 | Mutual funds and IPOs investment |
| Account Maintenance | Rs 0 | Demat account maintenance |
| Brokerage | Rs 20 | Equity, F&O, currency and commodity orders |
| Account Opening | Rs 0 | Trading + Demat account opening |
#3. ICICI Direct Demat Account
ICICIdirect has a 3-in-1 unique online trading account that combines your trading, bank, and Demat account for a seamlessly secured investment exposure and experience.
The specialty of the account is summed up below:
- Integrates trading, banking, and investment needs
- All investment experience sums up in one window
- Traderacer helps with live quotes
- Accessible across multiple platforms such as mobile, web, call
- Product-specialized brokerage plans.
- You can sell stocks and get money within 5 minutes
- ICICI NEO is the best zero brokerage Demat account
| Account Type | Price | Specification |
| Futures Trading | Rs 0 | Brokerage charges |
| Options & Intraday | Rs 20 | Trading Brokerage charges(Unlimited: per order) |
| Currency & Commodity | Rs 20 | Derivative brokerage(Unlimited: per order) |
#4. Choice
Choice brings solutions to everyday finance in one place. You can find every finance solution from Stocks, Mutual Funds, Loans, NPS, Bonds, Insurance, and PPF to Corporate FDs.
It has a super app called Choice FinX Trading App that caters to customized financial solutions.
The specialty of the app is summed up below:
- Helps Discover unique and interesting stock categories
- Expert-designed and rebalanced hand-picked baskets
- Financial planner to help you handle and cope with all financial needs
- Provides instant loans without lengthy documentation
| Charges | Equity Intraday | Equity Options |
| Brokerage | 0.02% | ₹ 25 per Lot |
| STT | 0.025% on the sell side | 0.053% on the sell side (on premium) |
| Transaction Charges | NSE/BSE: 0.00345% | NSE: Exchange transaction charge: 0.05% Clearing charge: 0.002% |
#5. Angel Broking
Angel broking helps with lucrative ROIs. They are centers for stock trading knowledge and investment. Angel Broking knowledge modules are divided into several modules that provide detailed explanations for terms, concepts, strategies, and practices, in a way to help you trade better in the market.
Angel Broking can be considered the best Demat account with the lowest brokerage and 1 crore+ happy clients.
The specialty of the app is summed up below:
- Been in the Industry since 1987
- Demat account that is technology driven
- Fundamental and technical research guidance
| Type | Price | Specification |
| Brokerage | Rs 0 | Equity Delivery |
| AMC charges | Rs 0 | Per Order For F&0, Intraday, Currencies & Commodities |
| Flat or 0.25% (whichever is lower) | Rs 20 | First Year |
| Interest on Margin trades | Rs 0 | 30 days Funding |
Conclusion
While you are searching for a Demat Account broker, you must keep your research on point. While the above database comes directly from what the Demat account brokers have to say about themselves, remember to go through the website carefully.
Here are a few pointers to keep in mind.
- The tech spaces are very important, so look at them carefully
- Compare competition and costs carefully
- Check their market’s service standards
>> Which is the Best Investment Plan in India for Middle Class?
Frequently Asked Questions
Which is the best Demat broker in India?
There are many Demat brokers in India. However, it would be difficult to take one name in specific. Some of the best Demat account brokers include ICICI Direct, Upstox, choice, Angel brokers, and others.
Which is the safest Demat account in India?
Safety is the greatest concern for every investor and trader. While it cannot be precise, brokers that have existed for decades in the market can be considered safe. The safest broker in India could be Upstox since it is trusted by experts like Ratan TATA and Angel broking since it has been there for 25 years. There are parameters based on which you should figure out all the safe options.
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