10 Best Demat Accounts in India for Beginners in 2024
The creation of Demat accounts revolutionized the way of trading in the stock exchanges. It eliminated the time-consuming and often mismanaged process of buying and selling shares through paper scrips. A demat account is opened and operated by SEBI-authorised stock brokers. It dematerializes shares and securities, allowing them to be held electronically and exchanged digitally from any location. It also significantly reduces the risk of fraud or theft associated with paper-based transactions.
Now it is mandatory to open a Demat account if you want to invest in shares and securities and trade them in the stock market. Check out this list of 10 best Demat Accounts in India in 2023 with their features, advantages, disadvantages and price. read on!
List of 10 Best Demat Accounts in India [Updated 2023]
1. Axis Direct Demat Account
When it comes to best demat accounts in India, over 2 million customers trust Axis Direct Demat Account. Axis offers you a wide variety of investment options as well as effective market research tools to help you make a decision. It is great for those who want to master the fundamentals of trading. Axis Direct's 3-in-1 account includes free market analytics insights from experts as well as learning tools for beginners.
Features
- Banking, trading, and Demat all in one account.
- Get advice from professionals in the field of market research.
- Allows you to trade stocks, mutual funds, bonds, derivatives, ETFs, and other financial instruments.
- Webinars, online courses, and expert articles are all examples of educational resources.
Pros
- For the first year, there is no account maintenance fee
- Experts conducted market research, made available for free
- Beginner’s educational resources
Cons
- Non-Axis Bank customers face higher account management charges
Price
- Account Opening Charge: Nil
- Account Closing Charge: Nil
- Account Maintenance Charge:
- Axis Bank Customer
- First Year: NIL
- Second Year Onwards: ₹750
- Non-Axis Bank Customer
- First Year: ₹350/-
- Second Year Onwards: ₹750
- Axis Bank Customer
2. SAS Online
SAS Online is a trading platform that provides you with a sophisticated program that allows you to buy or sell securities instantly, allowing you to profit from market fluctuations to the maximum extent. This is one of the best options for active traders. For aggressive traders, SAS Online is a viable solution. It offers you low cost trading options as well as some unique features.
Features
- Over 300 stocks to choose from
- Allows you to purchase delivery for up to four times the amount of your order
- Provides you with the most recent market news and updates
- Allows you to buy or sell right away
Pros
- Reduces the cost of trading
- Expert advisors and market scanners
- Trading in real-time
Cons
- There is no commodity trading
- Customer service is solely available via email
Price
- ₹999 per month or ₹9 per trade
- Demat account administration fee is ₹200 per annum (+GST) and ₹200 as account opening fee
3. SBICAP Securities Demat Account
SBICAP Securities Demat Account is an online and mobile-based trading platform that provides educational resources and market analysis tools to help you make informed investment decisions. SBICAP Securities Demat Account is a subsidiary of the renowned SBI Group. Their instructional features, market data and trading recommendations justify naming the app as one of the best Demat Accounts in India.
Features
- Educational resources are available
- Tools for market research
- Exchange equities, currencies, and other assets
- Get stock-trading recommendations
- Dedicated relationship manager
Pros
- Resources for education
- Market research
- Advice on trading
- Relationship manager with a specific focus
Cons
- Slightly steep account opening fees
Price
- The one-time pricing for account opening is ₹850
- Account opening charges: Nil
- Annual maintenance charges: ₹400
4. ICICI Direct Demat Account
ICICI Direct Demat Account is a digital platform that allows you to invest in both domestic and international markets. You can trade stocks, mutual funds, fractional shares and many other assets. The ICICI Direct Demat Account provides you with market knowledge to help you invest, as well as the ability to trade fractional shares of markets around the world.
Features
- Allows you to trade stocks, mutual funds, currencies, initial public offerings (IPOs), commodities, and more
- Get market research and market insights
- Get material for learning
- Invest in global market fractional shares
- Get a three-in-one account that includes banking, trading, and a Demat account
Pros
- Shares that are fractional.
- There is no requirement for a minimum balance.
- Invest in international stocks
Cons
- Small investors face high brokerage fees
Price
- Account opening charges: Nil to ₹975
- Account maintenance charges: Nil for first year; ₹700 from the 2nd year
5. Kotak Securities Demat Account
More than 20 million investors use the Kotak Securities Demat account. It gives you a 3-in-1 account, market analysis tools and trading advice. This is one of the best options to build a low cost portfolio. Owing to the learning resources and the option to invest in smaller cases, Kotak Securities can be a suitable solution for those looking to invest with a smaller amount or for beginners.
Features
- Get market research and suggestions
- Savings, Trading and Demat accounts are all integrated into one account.
- Margin trading is a method of trading with a little amount of money
- Build a low-cost portfolio by investing in tiny cases
Pros
- 3-in-1 market study account
- Small investors will benefit from this.
- Investment on a global scale
Price
- Account opening charges: Nil
- Brokerage charges: Nil
- Dematerialisation: ₹50 per request and ₹3 per certificate
- Account maintenance charges: Nil (for holding value of securities of less than ₹10,000)
- For holding value of securities more than ₹10,000: ₹65 p.m. for up to 10 debit transactions
- ₹50 p.m. for 11 to 30 debit transactions
- ₹35 p.m. for more than 30 debit transactions
6. HDFC Securities Demat Account
HDFC Securities Demat Account is a 20 year old trading service provider that allows you to trade digitally, saving you time and effort in the process. This is one of the best options for offline advice. HDFC Securities Demat Account is a one-stop-shop for all your trading needs. You can trade in Indian and International equities, as well as get customer service 24 hours a day, seven days a week.
Features
- Margin trading is a term that refers to the practice of trading
- Tools for market research
- Exchange currencies, commodities, initial public offerings (IPOs), stocks, mutual funds, and more
- Global investment opportunities are available
- Place orders over the phone
Pros
- Customer service is available 24/7
- Stocks in the United States
- Portfolio management tools
Cons
- In comparison to the alternatives, the Demat account management fee could be high
- There is no option for commodity trading
Price
- Charges vary as per pricing plans
- Futures and Options: ₹20 per order
7. Zerodha Demat Account
With over 5 million customers, Zerodha is one of the best Demat accounts in India. It provides you with a trading and depository account as well as market data and comprehensive charting to help you make informed investment decisions. Zerodha gives you everything you need in a Demat account. Market research tools are commendable.
Features
- To aid you in trading, market research data and advanced charts are available
- You may learn about trading with the Zerodha Varsity smartphone app
- You can create your own trading platform using this tool
- You can trade mutual funds directly through the Coin by Zerodha app
Pros
- High quality tools for market research
- Option of creating your own trading platform
- Reasonable fees
- App for learning
Cons
- Only the Indian market is covered
- No investor protection
Price
- Brokerage: Nil
- Intraday and F&O trades: ₹20 or 0.03%, whichever is less
8. Upstox Demat Account
With Upstox Demat Account, you can trade stocks, mutual funds, digital gold, futures and much more using a digital account. The software also helps you in better decision making by offering market data in the form of charts. This can be one of the best options to avoid exorbitant brokerage charges. Upstox is one of the most secure demat accounts available in India. Upstox offers zero-commission trading, which is a significant advantage.
Features
- A demat account that is paperless and digital
- Get real-time updates on the trading market
- You’ll just need one account to handle and track your stocks and mutual funds
- It’s a simple process to open a bank account
- Allows you to buy and sell digital gold
Pros
- Investing with no commissions.
- You can start investing with as little as ₹1
- You can trade from anywhere in the world
Cons
- Some consumers have expressed their dissatisfaction with market crashes caused by large market swings
Price
- Account maintenance fees: Nil
- Account opening fees: Nil
- Commissions: Nil
- Brokerage: ₹20
9. IIFL Demat Account
IIFL Demat Account has a track record of 25 years in the market. It allows you to open a demat account for free and provides market analysis tools, so you can invest while being well informed about market movements. This is one of the best options for low cost trading. Price alerts and portfolio analysis software can also be extremely useful.
Features
- In-depth market research
- Trade stocks, currencies, initial public offerings (IPOs), mutual funds, commodities, and more
- Get price notifications, trading ideas, market news, and more on your mobile app
Pros
- No charges for opening a Demat account with IIFL
- Alerts on price changes
- Tools for research and analysis
Price
- Account maintenance fees: Nil for the first year; ₹250 + GST from the next year onwards
- Account opening charge: Nil
- Brokerage: Variable as per plans
Sharekhan is an all-in-one trading platform with demat account learning, portfolio management, market research and other features. This strategy will benefit both beginners and professional traders. If you are looking for the best Demat trading account in India, then Sharekhan can be a great option. It allows you to trade stocks, bonds, mutual funds and many other assets. You can also hire professionals to manage and rebalance your portfolio.
Features
- Audio and video clips to help you understand market trends
- Expert market forecasts
- Learning aids
- Portfolio management services available
- You can trade stocks, bonds, mutual funds, ETFs, FX, futures, and options with this platform
Pros
- Notifies you when your preferred stocks’ prices change
- Customer service is available round the clock
- There is no requirement for a minimum deposit
- Expert portfolio rebalancing
Cons
- Account opening process could be time consuming
Price
- Account opening charges: Nil
- Account maintenance charges: Nil for the first year
Final Word
Demat accounts have brought a revolution in the markets, increasing market efficiency tremendously apart from offering enhanced security to traders. Digitization has allowed much faster order placement as well as order execution with accuracy and security. In unpredictable market conditions, the ability to buy and sell quickly can result in significant profits. While choosing a Demat account, a newbie can assess the brokers based on the kind of services they provide, additional features like access to research reports and on-call support, Demat account opening cost, fees and charges levied by them Etcetera. Choose wisely.
Stocks can be a valuable option for your investment portfolio. But, they carry significant risks. Mutual funds being managed by qualified and professional fund managers can be a better option for novice investors who do not understand the intricacies of investing in the stock market. In addition, mutual funds can help you diversify your portfolio in line with the returns of underlying indices, asset classes or individual securities, helping you maximize your profit margin. Investing in mutual funds can also be easier as you will not need a trading or demat account.
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