5 Best Demat Account in India 2022
Eager to know the best demat account in India? Then read this article till the end as we have listed the best demat account in India after thorough research.
Best Demat Account in India 2022
Let us explain the features of each demat account.
1. Zerodha
We have selected Zerodha as the best demat account in India. Zerodha, with its good customer support, is one of the most trusted brokers. You can save up to 90% if you trade in high volumes with Zerodha. They offer free stock delivery trade. Its trading platform is featured with advanced charts and tools for technical analysis.
- Most trusted discount broker
- Fixed charges for intraday trades
- No cost stock delivery
- Satisfactory customer support
- Advanced charts and tools
For demat annual maintenance charges, you need to pay Rs.300+GST.
As a free, tax-free discount brokerage firm, Zerodha offers you low-cost trades. With zero brokerage charges for the equity segment, you can trade with a maximum cost of Rs. 20 per order.
Other charges applicable:
| Brokerage charges for equity, currency, and options trades | Rs. 20 per order or 0.3% (whichever is lower) |
| DP charges | No charges for buying order and Rs. 13.5 for every selling order |
| Transaction fee for equity delivery and intraday trade | Rs. 345 per Rs. 1 crore (0.00345% of trade value for NSE and BSE) |
2. Upstox
Upstox, this demat account in India, helps you save more on brokerage than with full-service brokers. It is the fastest online trading platform in India. They offer free brokerage credit of Rs 1000, free stock delivery, and a brief account opening service.
Demat annual maintenance charges are Rs. 150+GST. This tech-driven low-cost brokerage firm offers trading opportunities with the following brokerages and transaction costs:
| Brokerage charges for equity, currency, and options trades | Rs. 20 per order or 0.05% (whichever is lower) |
| DP charges (sell) | Rs. 18.5 per scrip only on sell for Equity Delivery only |
| Transaction fee for equity delivery and intraday trade (For both buy/sell-side) | Rs. 345 per Rs. 1 crore (0.00345% for NSE)Charges vary as per the scrip group for BSE |
3. Angel One
Angel One is the oldest demat account you can find in India. You need to pay Rs. 20/month as a maintenance fee from the 2nd year onwards. Angel broking is now Angel One. Its customer support is up to the mark. As one of the largest retail brokers or Demat service providers, it offers you a wide range of trading facilities. If your Aadhaar is linked with your mobile number, you can quickly open a demat account with Angel One. You need to pay the following charges:
| Brokerage for Intraday, F&O, Commodities & Currencies | Rs. 20 per order |
| Equity Delivery Brokerage | Zero |
| Demat Transaction / DP Charges | ₹ 20 / Scrip Only On Sell |
| Transaction fee for equity delivery and intraday trade (For each side) | NSE: 0.00335% or 0.00275% depending on scrip BSE: Charges vary as per the scrip group |
4. 5 Paisa
5Paisa is a user-friendly demat account in India. It is a discount broker providing a mobile app. They serve traders with a flat fee structure. It is one of the lowest-brokerage platforms. It takes only one day to open your demat account. No charges are levied if the holding value of securities as on the last day of the month is less than Rs.50,000. Otherwise, it ranges from Rs.8-25 per month. You are required to pay the below-given charges for trading with this discount brokerage service provider:
| Brokerage for equity, currency, and commodities | Rs. 20 per order – Any value, number of trades, type, segment |
| DP Charge/Demat Transaction Debit charges | No charges for buying orders and Rs. 12.5 per trade sell order |
| Transaction fee for equity delivery and intraday trade (For each side) | Rs. 345 per Rs. 1 crore or 0.00345% for NSE and BSE |
Comparison
In this article, you will get an insight into who is the best Demat Account provider, based on the following evaluative measures:
- Active clients and their ratings for services
- Account opening and activation period
- Per transaction cost, opening account charges, and other maintenance fees
1. Based On Active Clients And Their Ratings
In the table given below, you can notice that Zerodha is the most reliable stockbroker providing Demat services. Based on the client review for overall services, Zerodha and Edelweiss are the top service providers with a 4.5 rating on google play store.
| Rank | Demat Account provider | Active clients (Till June 2021) | Client ratings |
| 1. | Zerodha | 36,02,074 | 4.5/5 |
| 2. | Upstox | 21,41,095 | 4.4/5 |
| 3. | ICICI Direct | 15,80,233 | 2.6/5 |
| 4. | Angel One | 15,64,667 | 4/5 |
| 5. | HDFC Securities | 9,57,085 | 4.1/5 |
| 6. | 5 Paisa | 8,70,405 | 4.2/5 |
| 7. | Groww | 7,80,570 | 4.4/5 |
| 8. | Prostocks | 2,65,08,235 | 3.6/5 |
| 9. | Edelweiss | 1,57,254 | 4.5/5 |
| 10. | Flattrade | Approx. 50,000 | 3.7/5 |
2. Based On Activation Period
Filling the application form, uploading documents, and performing KYC or Know Your Customer process usually take 1 to 2 working days. Among all these providers, Edelweiss, 5 Paisa, Flattrade, and Groww activate your account in just a few hours. Contrarily, Zerodha, ICICI Direct, HDFC Securities, and Upstox take more than a day to activate a Demat account.
3. Based On Brokerages And Other Transaction Costs
Demat and trading account opening charges:
| Demat Account provider | Demat Account opening charges (Rs.) | Trading account opening charges |
| Zerodha | Nil | 200 |
| Upstox | Nil | 249 |
| ICICI Direct | Nil | Nil |
| Angel One | Nil | Nil |
| HDFC Securities | Nil | 999 |
| 5 Paisa | Nil | Nil |
| Groww | Nil | Nil |
| Edelweiss | Nil | Nil |
| Flattrade | Nil | 300 |
| Prostocks | Nil | Nil |
- Groww, Edelweiss, Flattrade and Prostocks
If your only concern is the brokerage for trade transactions, you can consider the following comparison of brokers offering low-cost brokerages and demat accounts:
| Charges | Groww | Edelweiss | Flattrade | Prostocks |
| Brokerage charges for equity, currency, and options trades | Rs. 20 per order for equity and no charge for derivatives | Rs. 10 per executed order | No cost for equity and Rs. 10 per derivate order | Rs. 15 per order under the standard plan |
| Demat Transaction/DP charges | Nothing for buy order and Rs 8 + Rs 5.50 as CDSL fees | No charges for buying orders and Rs. 15 per trade sell order | Rs. 20 per selling instruction | No charges for buying orders and Rs. 20 per trade sell order |
| Transaction fee for equity delivery and intraday trade (For each side) | Rs. 345 per Rs. 1 crore (for NSE and BSE) for buying and sell | Rs. 345 per Rs. 1 crore (for NSE)Rs. 275 per Rs. 1 crore (for BSE) | NSE: 0.00345% (FOR NIFTY 50, NIFTY IT); BSE 0.003% | Rs. 345 per Rs. 1 crore (for NSE and BSE) |
The above analysis shows that Edelweiss and Flattrade offer the least brokerages among these providers. Groww charges the least per transaction cost. ICICI Direct and Angel One offer equity trade delivery and intraday trade at minimum cost.
With the introduction of the Dematerialization Act in 1996, the stock market regulators allowed investors to do digital stock trading. As a solution for online stock and share trading, Demat accounts facilitate the account holders to hold financial securities digitally. Unlike physical securities trading, a demat account provides a gateway for investors or traders to buy, keep, and sell their financial assets anytime. Without worrying about any physical destruction, investors hold their traded securities with major depositories such as CDSL (Central Depository Services Limited) or NSDL (National Securities Depository Limited).
Numerous Indian stockbrokers offer low-cost and quickly-activated Demat Accounts. Selecting the best provider among the list requires a comparative analysis.
Final Choice For The Best Demat Account In India
Based on the above analysis, you can decide which is the least cost Demat Account.
- Zerodha, Groww, Edelweiss, and Upstox are the better providers based on popularity and better client rating.
- Edelweiss, Prostcoks, Angel One, and Groww offer you faster account activation, just in a few hours.
- ICICI Direct, Edelweiss, Groww, Angel One, Prostocks, and 5 Paisa offer you a completely free demat and trading account opening facility.
- Groww and Prostocks don’t require annual maintenance fees whereas, Edelweiss. Flattrade and Groww ask for lower brokerages and transaction fees.
Since every investor’s needs and preferences are different, you can choose the Demat Account as per your investing and trading needs.
