6 Best Demat Accounts in India


1. Zerodha

Zerodha provides a Demat account that allows you to trade in various segments at low or zero brokerage rates. The trading platform offers several online tools and platforms, such as Kite, Coin, Varsity, Console, etc. and has one of the most reliable customer support systems. Kite, built in-house, is India's simplest stock trading app, featuring a user-friendly interface, advanced features like 100+ indicators, cover/GTT orders, and multilingual support, making it an ideal platform for traders.

Pros: 

  • Zero brokerage for equity delivery trades, which means you don't have to pay any commission for buying and selling shares in the cash segment.
  • Low brokerage for other segments, such as equity intraday, futures, options, and currency, which is 0.03% or ₹20 per executed order, whichever is lower.
  • Kite - a trading and investing platform accessible on desktop and mobile devices with an intuitive interface.
  • Zerodha Coin to invest in mutual fund direct plans without paying any commission or fees.
  • Responsive and helpful customer support is available via email and chat.

Cons: 

  • Demat account opening costs ₹300, and an annual maintenance charge of ₹300 is applicable.
  • It covers only the Indian market, so you can't trade or invest in foreign markets or currencies through it.

2. Groww

Groww is a popular Indian fintech platform designed to simplify your financial journey. It offers a comprehensive suite of products and services, making it a one-stop solution for all your financial needs. Whether you're a seasoned investor or just starting out, Groww has something for you.

Pros: 

  • Zero account opening and maintenance charges.
  • Instant and paperless online account opening.
  • Commission-free investment for customers on Mutual Funds.
  • The mobile app and website are beginner-friendly and intuitive.
  • Invest in stocks, ETFs, IPOs, mutual funds, and even apply for loans.

Cons: 

  • No commodity or currency derivative products are available.
  • No physical branches or call & trade facilities.
  • Lacks advanced research tools and advisory services.
  • Not available for Non-Resident Indians.

3. Upstox

Upstox is a leading discount broking firm in India, aiming to make investing simple, affordable, and accessible for everyone. Founded in 2009, they've grown from a small operation to serve over 1 crore investors across the country. They offer a user-friendly platform for trading in equities, commodities, currencies, and mutual funds, all with a focus on low brokerage fees. 

Pros: 

  • They offer a flat ₹20 per trade fee across all segments, which is attractive for active traders.
  • Margin trading facility to trade with borrowed funds.
  • It provides you with different kinds of knowledge resources, from technicals to fundamentals of investing.

Cons: 

  • No monthly trading plans.
  • It is an online-only broker, which might not suit investors who prefer face-to-face interaction.
  • Limited customer support hours.

4. 5paisa

5paisa is a rapidly growing discount stock broking company based in India. Founded in 2016, they offer online trading and investment services across various segments like equities, derivatives, commodities, currencies, and mutual funds. Their core principle is "A Paisa Saved is a Paisa Earned," reflected in their flat fee of ₹20 per order, regardless of the segment. This makes them a popular choice for cost-conscious investors.

Pros: 

  • Whether you're a beginning trader, investor, or expert trader, 5paisa offers different brokerage plans for you.
  • All-in-one account for stock, mutual fund, commodity, currency, research, and advisory investments.
  • 5paisa offers traders a cutting-edge trading platform and free technical, derivative, and fundamental research.

Cons:

  • Their free "Optimum" plan doesn't include research and advisory services, which may be crucial for some investors.
  • It doesn't provide services for NRI traders.
  • Some users have reported challenges reaching customer support or receiving timely assistance.
  • Higher exchange transaction charges.

5. HDFC Securities

HDFC Securities, a subsidiary of the renowned HDFC Bank, has established itself as a leading full-service stockbroker in India. Launched in 2000, they cater to investors of all levels, offering a comprehensive suite of features to manage your finances seamlessly.

Pros: 

  • Invest in equities, derivatives, mutual funds, IPOs, bonds, and more, all under one roof.
  • Multiple platforms and trading options, including advanced features like GTT orders and basket trading.
  • 3-in-1 account to simplify your finances with a combined Demat, trading, and bank account.
  • Access research reports, investment recommendations, and relationship manager support.

Cons:

  • You cannot trade on commodity exchanges like MCX or NCDEX through HDFC Securities.
  • Services and features may cater more towards experienced investors with larger portfolios.

6. Axis Direct

Axis Direct, a subsidiary of Axis Bank, is a prominent online brokerage firm in India offering a diverse range of investment and trading solutions. From beginners to seasoned investors, Axis Direct caters to various financial needs with its 3-in-1 account and multiple platforms.

Pros:

  • Simplifies investing and trading by combining Demat, Savings, and Trading accounts.
  • Wide investment options like equities, derivatives, mutual funds, IPOs, ETFs, bonds, and more.
  • Detailed research reports and professional advice on stocks and investing.
  • Supports diverse order types for risk management.
  • Offers comprehensive support channels.

Cons:

  • Plans are priced differently based on trading frequency and volume.
  • Brokerage, account opening cost, and maintenance charges are very high compared to other brokers.
  • Some users have experienced longer wait times and less satisfactory support when seeking assistance from Axis Direct's customer service team.

Here is the comparison table:

Broker

Account Opening Fees

Annual Maintenance Charges

Equity Delivery

Equity Intraday

Free Research Reports

Zerodha

₹300 

₹300 

Zero

0.03% 

No

Groww

Free

Free

0.05%

0.05%

No

Upstox

Free

₹150 

₹20 or 2.5%₹20 or 0.05%

No

5paisa

Free

₹300 

₹10

₹10

Yes

HDFC Securities

Free

Free

0.15%

0.015%

Yes

Axis Direct

₹499

₹790

0.50%

0.05%

Yes