Best Demat Account in India 2024 – List of Top 10 Demat Account in India

Here is our list of Best Demat Account in India. This list of top 10 demat account has been identified after rigorous study of 150 parameters.

Out of these 150 parameters we have finalized 10 major parameters. Lets have a look at these Parameters:

• Low Brokerage
• Account Opening Process
• Beginners
• Intraday Traders
• Small Investors
• IPO Investment
• Long Term Investment
• Portfolio Management Services
• Mutual Fund Investment
• Banking Broker

Based on these 10 parameters we have finalized the list of Best Demat Account of 2024.

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Topic Highlights

• List of Best Demat Account in India
• Top Demat with Low Brokerage
• Best Demat for Beginners
• Top Demat for Traders
• Best Demat for IPO Investment
• Top Demat for Mutual Fund
• FAQs
• Open Free Demat Account Now – Get Lifetime Free Delivery Trading!
• Most Read Articles

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Best Demat Account in India – List of Top 10 Demat Account Online

We have analyzed 10 parameters to choose the Best Demat Account for you. We have evaluated parameters like brokerage charges and how low it is.

Then we have also evaluated the account opening process of these brokers with whom you can open the Demat account.

Then we have checked which Accounts are better for beginners, intraday traders, long-term investors, and so on and so forth.

As per our evaluation, we have chosen the ten Demat Accounts from ten different brokers which are given above in the table.

Angel One is having the highest ratings as per our analysis. Then it is followed by Zerodha, the largest broker by the number of active clients in the country.

Then ICICI Direct is there and seven others as you can check in the table above. There are hundreds of Demat account providers but these 10 are the best due to multiple reasons.

We are now going to discuss each of the parameters and the top 5 Demat accounts as per each parameter.

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Top Demat Account with Low Brokerage

Low Brokerage
Demat Account	Rating
Zerodha	9.27
Angel One	9.09
Upstox	9.07
Groww	9.06
5Paisa	8.94
IIFL	8.91
Kotak Securities	8.77
ICICI Direct	8.73
HDFC Securities	8.66
Motilal Oswal	8.40

The first parameter that we have taken into account is low brokerage charges.

As per this parameter, the Top Demat Accounts are Zerodha which charges one of the lowest fees that is Rs.20 per order for Intraday & F&O Trading & Free brokerage on Delivery Trading.

Then it is followed by Angel One, Upstox, Groww & 5Paisa. All these charges Rs.20 per order in general.

Check out comparison of brokerage charges of these Demat Accounts for all segments here.

Compare Brokerage of Best Demat Accounts

Among these brokers, 5Paisa provides 2 more brokerage plans where you can reduce your brokerage further to Rs.10 per order, but for this you need to pay Rs.999 per month or Rs.499 per month extra.

When you are choosing an account, you would want the brokerage to be lower, isn’t it? So, this is why we have first evaluated the brokerage of these stock brokers.

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Top 10 Demat Account smooth Account Opening Process

Smooth Account Opening Process
Demat	Rating
Angel One	9.33
Groww	9.15
Zerodha	9.13
Kotak Securities	9.12
Upstox	9.00
5Paisa	8.97
ICICI Direct	8.83
IIFL	8.79
Motilal Oswal	8.72
HDFC Securities	8.45

The second parameter is the account opening process. All these Top 10 Demat Account providers have a very easy and online account opening process.

The basic account opening process involves –

• Filling out the application with necessary details
• Uploading the documents like PAN, AADHAAR, Bank account details for KYC purpose
• Then waiting for the brokerage house to approve the application.

Now we have chosen the 5 best Demat providers based on the account opening process. Angel One top the list again followed by Groww, Zerodha, then Kotak Securities, and Upstox.

All these provide a smooth account opening process that is completely online. You can open your account within a few minutes.

They process your application the fastest. It is also crucial how much time is taken for the KYC purpose.

Angel One, Zerodha, Upstox are amongst the few Demat providers whose KYC process finishes within 1 hour.

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Best Demat Account for Beginners

For Beginners
Demat	Rating
Zerodha	9.32
Upstox	9.14
Angel One	9.12
IIFL	9.11
5Paisa	8.99
Groww	8.96
ICICI Direct	8.82
Kotak Securities	8.78
Motilal Oswal	8.72
HDFC Securities	8.45

The 3^rd parameter is about the best Demat Account in India for beginners or newbie traders.

As a beginner in the stock market, everyone wants a Demat provider which has the lowest brokerage charges, a lot of learning resources, a simple trading process, and most importantly advanced but easy-to-use trading platforms.

So, analyzing these factors, we have chosen five brokers. They are Zerodha, Upstox, Angel One, IIFL, Edelweiss.

All these five have very lower pricing options. Then all of them provide share market learning resources. With Zerodha you have Varsity too.

So, as a new trader, you can learn a lot from these Demat brokers.

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Best Demat Account in India for Intraday Traders

For Intraday Traders
Demat	Rating
Zerodha	9.39
Angel One	9.21
Upstox	9.19
Groww	9.18
5Paisa	9.06
ICICI Direct	9.03
Kotak Securities	8.89
Motilal Oswal	8.85
HDFC Securities	8.78
IIFL	8.51

The Best Demat Account in India for intraday traders is Zerodha again, Angel One follows, then comes Upstox, Groww, and Edelweiss.

An intraday trader wants a Demat that comes with a trading platform that can handle bulk orders. Yes, intraday traders mostly trade in bulk.

So, a bulk trading facility is a must. Then they need low brokerage as well or flat-fee so that their bulk trades do not attract higher brokerage costs.

In intraday, research tools are also very necessary. Technical Analysis, Indicators & tools especially are most important when trading in the cash segment.

All these five we have chosen provide the best technical tools in their trading platforms. The trading platforms they provide are highly advanced and meant for bulk trading.

Intraday traders also require trading tips which are given by these stock brokers. Finally, all these five have cheap flat-fee brokerage charges.

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Top 10 Demat Accounts in India for Small Investors

For Small Investors
Demat	Rating
Angel One	9.43
Zerodha	9.25
Upstox	9.23
Groww	9.22
ICICI Direct	9.10
Kotak Securities	9.07
Motilal Oswal	8.93
HDFC Securities	8.89
5Paisa	8.82
IIFL	8.55

The fifth parameter is about small investors. Out of the Top 10 Demat Account in India, we have chosen, five best for retail traders.

Those are Zerodha, Upstox, Angel One, IIFL, and Groww. These five provide the best facilities that a retail or small investor needs.

For instance, retail traders want hassle-free trading which is provided by all these brokers. Then simple brokerage plans, which is also a plus for all these 5 Demat providers.

Small investors want delivery charges to be lower. Zerodha has, Angel One, Groww has no charges for the equity delivery segment.

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Top Online Demat Account for IPO Investment

For IPO Investment
Demat	Rating
Angel One	9.45
Zerodha	9.27
Upstox	9.25
Kotak Securities	9.24
Motilal Oswal	9.12
ICICI Direct	9.09
Groww	8.95
5Paisa	8.91
HDFC Securities	8.84
IIFL	8.56

IPOs are a great way to invest at a very low price and then see the price increases drastically after the launch of the share.

In this Demat Account List, we have five such Demat providers which are specialized in IPO services.

They are Angel One, Zerodha, Upstox, Kotak Securities, and Motilal Oswal. These five provide all the facilities you need to invest in an IPO.

Firstly, they update you about the upcoming IPOs by sending emails, and messages. They also update everything on their website about the upcoming IPOs.

The issue date, application closing date, and others. For investment in IPO, you need to fill the form which is made available by these stock brokers easily.

Investors who invest in IPOs need information about the companies, DRHP, and other documents from genuine sources.

These brokers make these documents and information available for the investors.

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Best Demat Account of 2024 for Long-Term Investment

For Long Term Investment
Demat	Rating
Kotak Securities	9.43
Motilal Oswal	9.25
ICICI Direct	9.23
Angel One	9.22
HDFC Securities	9.10
IIFL	9.07
Upstox	8.93
5Paisa	8.89
Zerodha	8.82
Groww	8.55

While we are doing the Demat Account Comparison we also need to look at the long-term investors or people who want to do long-term investment.

A long-term investor firstly needs fundamental analysis & company reports, both annual and quarterly reports. These reports are required to analyze the financial standing of the company.

Not all Demat providers provide these reports. However, we have chosen five of them which are Kotak Securities, Motilal Oswal, ICICI Direct, Angel One, and HDFC Securities.

These five are full-service brokers with a research and advisory team. They not only provide these reports but also analyze them and share the analysis from time to time.

Long-term investors also look for brokers which are having more experience and all these brokers are in the market for years now.

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Top Online Demat Account for Portfolio Management Services or PMS

For Portfolio Management
Demat	Rating
Motilal Oswal	9.35
Kotak Securities	9.17
IIFL	9.15
ICICI Direct	9.14
HDFC Securities	9.02
ASK	8.95
Birla Sunlife	8.92
Alchemy	8.88
Invesco	8.81
Unifi Capital	8.75

Investors who are having a huge amount to invest generally look for portfolio management services.

Top Online Demat Account providers which also provide portfolio management services are Motilal Oswal, Kotak Securities, ICICI Direct, IIFL & Ask.

These five provide top-notch PMS services. The portfolio management services must include proper analysis of the investor profile and then choose the investment for them.

All these Demat service providers have experience of years of choosing the right investment for the investors.

They also charge very few services charges compared to other wealth management services.

Edelweiss PMS and Motilal Oswal PMS are known for their portfolio management services across the country.

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Top 10 Online Demat Account for Mutual Fund Investment

For Mutual Fund Investment
Demat	Rating
Groww	9.42
Angel One	9.24
Zerodha	9.21
Upstox	9.20
HDFC Securities	9.08
ICICI Direct	9.05
Kotak Securities	8.91
Motilal Oswal	8.87
IIFL	8.80
5Paisa	8.53

For investment in mutual funds you may or may not require a Demat account. The Best Online Demat Account for mutual fund investment is provided by Groww.

This is a new market player which has been changing the mutual fund investment for people.

Many young people have come into the market and started investing in mutual funds using Groww’s Account.

Then there is Angel One, Zerodha, Upstox, and HDFC Securities which also provide mutual funds as a part of their investment products.

For mutual fund investors, the platform they are choosing must help them choose the right mutual funds.

Groww has a great platform for this. It has multiple questionnaires to understand the investor profile. Then it suggests different mutual funds for the investors.

You can choose one from it. It is also important how smooth the process is and simple as well. These five Demat providers have the easiest process of investing in mutual funds.

You can choose the fund and choose the amount you want to invest and then just make the transactions and you are done.

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Top Demat Account from Banking Brokers

From Banking Broker
Demat	Rating
ICICI Direct	9.37
Kotak Securities	9.19
HDFC Securities	9.17
Axis Direct	9.13
SBI Securities	9.08
IDBI Direct	8.98
Canmoney	8.94
Standard Chartered Securities	8.87
BOI Star	8.85
Yes Securities	8.75

Demat accounts are linked with trading accounts and bank accounts for the whole process of trading to be completed.

Our Top 10 Online Demat Account providers provide a smooth process of interlinking these three accounts.

However, the banking brokers which means the brokerage houses which are part of banks like ICICI Direct, Kotak Securities, HDFC Securities, Axis Direct, and SBI Securities provide three-in-one accounts altogether.

With this facility, you are secure, your transactions are highly secure. There is no need to interlink any third-party bank account with your Demat or trading account.

These banking brokers are highly reliable and offer great facilities too.

Since, we have covered all parameters, let dig deep into each of these demat account providers in details & learn why you should choose any one of them.

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Angel One

In the first position of the Best Demat Account list, we have Angel One. Angel One is the new version of Angel Broking.

If you are wondering why you should choose the Angel One Account, then there are ample reasons for the same.

• It provides the most competitive brokerage schemes. Yes, you can trade with this Demat by just paying Rs.20 per trade. Can you believe that? It is that cheap. However, Angel One doesn’t ever compromise with the quality of Demat services they provide for such cheap prices.
• With this account you will get ARQ. It is the rule-based investment engine that helps you choose the right investments.
• You get free access to advanced yet easy-to-use trading platforms which this broker offers. The trading platforms are loaded with rich trading features which are often not found with other brokers.
• Provides access to expert research and advisory services as well.
• You get flat brokerage plan as well.
• There are no charges on the equity delivery trades.
• You can trade and invest in multiple assets using the Demat and trading account of Angel One.

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Zerodha

In our list of Top 10 Demat Accounts, we have Zerodha in second place. Zerodha has made a name for itself by providing one of the cheapest Demat and trading facilities to investors and traders across the country.

Zerodha being a discount brokerage house provides basic Demat & trading services.

However, it provides all facilities with its Demat account. Let us see why you should open an account with Zerodha –

• Firstly, the brokerage plan is very easy and simple. You just need to pay Rs. 20 (maximum) as a brokerage for any trade irrespective of the volume. It charges no fee for delivery trades.
• With Zerodha Demat Account, you can enjoy investing in mutual funds, assets of different exchanges whether it is NSE or BSE or MCX or others.
• You will be a part of thirty lakhs active clients who will trade with you daily.
• You will get excellent customer support whenever you will require it.
• Get access to Zerodha Kite App which is India’s best trading app at present. You can trade any asset anytime using this platform. You will get multiple technical tools, charts, indicators with these platforms.
• With this account, you can also take part in the 60-day challenge of trading successfully and earning a certificate.
• There is a margin utilization facility up to 55% which is quite good.

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ICICI Direct

In the 3rd position on the Demat Account List, we have an ICICI Direct Demat account. This is a part of a three-in-one account.

It is provided along with trading and bank account from ICICI. The advantages of having this account are –

• Ease of access as all three accounts is interlinked. It is easy to make deposits and withdraw from the trading account.
• It is highly secure as well as bank account is inbuilt
• With this account, you get different brokerage plans which are quite cost-effective
• ICICI Securities provide multiple investment options which you can invest in and keep in your Demat.
• With this Demat, you can also avail of loans. Yes, the shares you have in your ICICI Direct Demat account can be used as collateral for availing loan from ICICI.

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Upstox

The fourth Best Demat Account in India is provided by Upstox. It is a discount broker which has a tech-first approach.

It has become popular due to the exceptionally cheap pricing plans and advanced technology that it provides.

The reason for choosing the Upstox Demat can be –

• Low-cost brokerage plans are the primary attraction or benefit of this Demat. You can save a lot of money on the brokerage. Upstox unlike most brokers in the country doesn’t charge a percentage or commission on your trades. However, it has a flat fee irrespective of the volume of the trading order.
• It has 2% or more total turnover in NSE every trading day which is a huge thing for a new discount broker in the market.
• Then it helps the clients especially the intraday traders to trade smoothly and get better liquidity and volume in the market.
• It has a complete online Demat account opening process. You can open the account without any hassle. The KYC is done within a few days too.
• Upstox helps you get the best trading platforms in the market. You can trade in bulk without worrying about the trading platform slowing down. It has exceptionally advanced trading tools, indicators, charts for helping you in trading.
• With this account of Upstox, you get high-quality customer service as well.

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Groww

The fifth best Demat account is of Groww’s. It is a new brokerage house that is providing one of the Top Demat Accounts in India.

Groww started its journey as a mutual fund investment platform. However, now it has spread its wings and catering to other asset segments too.

You can open a Groww Demat account for the reasons below –

• Twenty million investors trust the Groww and its services.
• You get ample investment options to choose from. You can use one account of Groww to invest stocks, mutual funds, currencies, commodities, IPO, international stocks, and many others.
• There are no account opening charges that you have to pay. Furthermore, you do not have to pay the annual maintenance charges as well.
• With this account, you can avail a lot of learning resources.
• Then you can also access your portfolio and trade whenever you want using its mobile trading application. For bulk trading, there is terminal software too.

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Motilal Oswal

The Account provided by Motilal Oswal is one of the Top 10 Demat Accounts in India.

There are multiple reasons for declare this as a top Demat account. You will get different advantages for choosing this account such as –

• You can be a part of 22 lakhs of traders across India who trades using the Motilal Oswal account.
• Then Motilal Oswal is a brand in the share market having more than 100 plus awards in its kitty.
• It provides top-notch trading platforms which are having high ratings in both Google Playstore and App Store.
• With this, you get access to invest in ready-made investment plans. They offer different assets to invest and trade
• You can also invest in mutual funds
• Mo Trader is one of the most popular trading platforms in India
• Demat account AMC is nil. Moreover, you can get multiple offers on account opening.

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Kotak Securities

It is a well-known brokerage house that provides one of the Largest Demat Account in India.

Kotak Securities Demat offers multiple benefits to the clients. Some of them are –

• Opening an Account with Kotak Securities is quite easy. You just need to fill in the application and upload the documents and you are done.
• When it comes to IPO investments, the Kotak Securities can be one of the best choices. IPO information is made available by this broker quite early so that the interested investors can take part in it.
• It is also good for investors looking for long-term investment. It is secure, having wide experience and a range of products to diversify your investment.
• Kotak Securities also provides portfolio management services to clients. It takes care of the complete portfolio from analyzing investors’ profiles to choosing the investment vehicles and then monitoring the same.
• With this Demat account, you get brokerage services at very reasonable charges. You can trade different assets by paying low brokerage charges.
• You can trade in bulk as well as in retail as per your choice.

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HDFC Securities

In the Demat Account Comparison, we have got HDFC Securities in the 8^th position.

This Demat helps in different ways. Some of the most crucial benefits that it brings to the table are –

• There are no account opening charges for HDFC Securities Demat Account
• The annual maintenance fees are also waived off for the first year
• There are low brokerage charges
• You can get access to multiple trading platforms like HDFC Securities Mobile App, Trading Terminal & more. They are highly advanced and loaded with rich technical features and tools.
• HDFC Securities Demat provides a shorter settlement period.
• The liquidity is quite high as well which helps in trading smoothly.
• You can invest in different investment options – mutual funds, IPOs, shares, commodities, currencies, and others.

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5Paisa

5Paisa is a premier brokerage house in the country and provides multiple financial services. It is also offering the Best Demat Account Online.

 

The pros for choosing this account are –

• You can keep your shares in safe hands with 5paisa
• 5Paisa is quite fast with all updates and notifications about the market
• You can avail the best of the trading platforms
• 5paisa charges very low brokerage for trading on its platform
• With this Demat from 5Paisa, you can invest in different investment vehicles and diversify your investment
• You can avail of loans against the shares.
• It provides Algo Trading Platforms & Robo Advisory Platforms to the clients.

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IIFL

The final Demat account in the list of Top Demat Account Online is from IIFL or India Infoline.

You can opt for it because of the following reasons –

• Opening an IIFL Demat is a completely paperless process. It is online and easy.
• You can choose the depository you want – CDSL or NSDL
• You can easily link the trading account for smooth and seamless transactions
• Thid account help you invest in all types of assets and hold them in electronic format for safety
• You can freeze your Demat if required with IIFL

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Honorable Mentions

While we have ranked the Largest Demat Account from one to ten, there are a few others that are also quite beneficial.

There is a Paytm Money Demat Account which is a new account but provides great facilities.

Then there is the 5Paisa Demat account which is having the lowest brokerage charges. You can also open Axis Direct Demat account or Sharekhan Demat Account.

The SBI Securities Demat account is also having multiple facilities.

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Best Demat Account in India – Conclusion

Choosing the Best Demat Account is a daunting job. However, with the details given above for each of the brokers, we hope you can choose the Demat for yourself wisely.

You can compare, check all the parameters. Then once you are fully sure about the Demat account, you can open it.

Make sure you check all the details and then only choose the one that suits you the best.

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Best Demat Account FAQs

Check out various FAQs on Top Demat Account in India.

How to find the Best Demat account offers in India?

Around about 150 parameters have been studied in order to come to a final decision of which is the best demat account offer in India.

10 major parameters have been finalized and worked upon in order to find the most appropriate one.

Which is the Top Free Demat in India?

Angel Broking, with a  9.36/10 rating, is the best free demat account in all of India. This has been drawn after comparing every firm based on 5 very rigid parameters.

Which Demat account is good for beginners?

Zerodha will always be the best demat account for beginners.

While choosing this, one thing needs to be kept in mind and that is a stock market beginner should make sure to go along with a discount brokers who are good at providing support and advises.

Which is the Top Demat for traders?

Zerodha, is hands down, the best demat account for traders all over.

Its brokerage fee is extremely feasible and this assists traders and investors alike to put in less money but draw out immense profit all year round.

How to find Top Account for IPO investment?

Investing in something such as an IPO is pretty simple. The customer can fill in the form online and start investing in it.

Nonetheless, it is really critical for any client and after careful evaluation we have come to the conclusion that Kotak securities and Zerodha have a pretty convenient way of form filling when it comes to IPO.

Which is the Best Demat account for Mutual Fund investment?

Groww has the best system for Mutual Fund investment.

SBI, HDFC or any other bank login when it comes to mutual fund investment is really hassle-free and you can keep your shares under one custody.

Which Demat and trading account is good for intraday trading?

It goes without saying that intraday trading is a mandatory feature of a stockbroking firm. Herein, 5Paisa leads the match with its low brokerage fee and trading platform.

Where can I compare Demat accounts in India?

You can compare the best demat accounts in India on our website itself.

We provide 10 very rigid parameters, based on which, these accounts on every factor, is provided to you. The 10 parameters being:

• Low Brokerage
• Account Opening Process
• Beginners
• Intraday Traders
• Small Investors
• IPO Investment
• Long Term Investment
• Portfolio Management Services
• Mutual Fund Investment
• Banking Broker

Which is the best trading account with lower brokerage?

It goes without saying that low brokerage fee attracts investors and traders in every stockbroking company.

Herein, Zerodha and 5Paisa have been massive firms to provide discount brokerage strategies to their customers.

Which is the best banking broker Demat account?

This factor is apparently pretty amusing because a lot of clients want to invest their money with brands which also have a key role to play in the banking sector.

One of the main reasons for this to happen is because they want their money to be safe.

This doesn’t only include the banking agencies but also the stockbrokers to have the best banking solution. Kotak Securities wins this race followed by ICICI Direct.

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