When you invest in stocks and bonds or any other asset, they are held in a specific type of electronic account which is called the Demat account or Dematerialized account.
These accounts are highly functional for those who invest in different avenues as they make trading more accessible, keep the assets safe and secure and make the entire process convenient.
Currently, in the market, there are multiple demat account providers among which finding the most reliable and best demat account in India can be a struggle.
In this article, we will discuss the Top 10 Demat Account in India that provides excellent services, low fees, user-friendly platforms, and a seamless trading experience.
Regardless, of whether you are an expert investor with years of experience or an amateur who is starting to invest. This detailed guide will help you find the best one.
Best Demat Account in India – List of Top 10 Demat Accounts of 2023
Below is a list of the Top Demat Accounts in India:
| Rank | Broker Name | Offers | AC Opening Charges | Active Accounts |
| 1 | Groww Demat Account | Free equity delivery trading; Rs. 20 per trade for intraday and F&O trading | Rs. 300/year | 1+ million |
| 2 | Zerodha Demat Account | Free equity delivery trading; Rs. 20 per trade for intraday and F&O trading | Rs. 300/year | 6+ million |
| 3 | Upstox Demat Account | Free equity delivery trading; Rs. 20 per trade for intraday and F&O trading | Rs. 300/year | 3+ million |
| 4 | Kotak Securities Demat Account | Free equity delivery trading; Rs. 21 per trade for intraday and F&O trading | Rs. 600/year | 1+ million |
| 5 | ICICI Direct Demat Account | Free equity delivery trading; Rs. 20 per trade for intraday and F&O trading | Rs. 700/year | 1+ million |
| 6 | Edelweiss Demat Account | Free equity delivery trading; Rs. 10 per trade for intraday and F&O trading | Rs. 500/year | 1+ million |
| 7 | Angel One Demat Account | Free equity delivery trading; Rs. 20 per trade for intraday and F&O trading | Rs. 450/year | 2+ million |
| 8 | Motilal Oswal Demat Account | Free equity delivery trading; Rs. 30 per trade for intraday and F&O trading | Rs. 550/year | 1+ million |
| 9 | IIFL Demat Account | Free equity delivery trading; Rs. 20 per trade for intraday and F&O trading. | Rs. 350/year | 1+ million |
| 10 | HDFC Securities Demat Account | Free equity delivery trading; Rs. 25 per trade for intraday and F&O trading | Rs. 750/year | 1+ million |
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Comparison Based on Different Parameters
Following is a comprehensive list of parameters ranking the Best Demat Account in India:
Low Brokerage
This refers to the fees charged by the broker for each trade executed on the exchange. A low brokerage rate can help investors save money on transaction costs.
| Rank | Demat Ac | Expert Rating |
| 1 | Zerodha | 10 |
| 2 | Upstox | 10 |
| 3 | Groww | 9 |
| 4 | Angel One | 9 |
| 5 | Edelweiss | 9 |
| 6 | Motilal Oswal | 8 |
| 7 | HDFC Securities | 8 |
| 8 | IIFL | 8 |
| 9 | Kotak Securities | 7 |
| 10 | ICICI Direct | 7 |
Account Opening Process
This refers to the ease and speed with which an investor can open a Demat account with the broker. Having a hassle-free account opening process can save a lot of time for investors.
| Rank | Demat Ac | Expert Rating |
| 1 | Groww | 10 |
| 2 | Upstox | 9 |
| 3 | Angel One | 9 |
| 4 | ICICI Direct | 9 |
| 5 | IIFL | 9 |
| 6 | Zerodha | 8 |
| 7 | Kotak Securities | 8 |
| 8 | Motilal Oswal | 8 |
| 9 | Edelweiss | 8 |
| 10 | HDFC Securities | 7 |
For Beginners
This parameter assesses the suitability of the broker for first-time investors who may have limited knowledge or experience in trading.
Features like educational resources, research tools, and customer support can make it easier for beginners to understand the market and make informed investment decisions.
| Rank | Demat Ac | Expert Rating |
| 1 | Groww | 10 |
| 2 | Upstox | 9 |
| 3 | Zerodha | 9 |
| 4 | Angel One | 8 |
| 5 | Edelweiss | 8 |
| 6 | HDFC Securities | 8 |
| 7 | IIFL | 8 |
| 8 | Kotak Securities | 7 |
| 9 | Motilal Oswal | 7 |
| 10 | ICICI Direct | 7 |
Intraday Traders
This refers to investors who engage in buying and selling stocks within the same trading day.
Intraday traders typically require access to advanced charting tools, real-time data feeds, and low-latency trading platforms to make quick and profitable trades.
| Rank | Demat Ac | Expert Rating |
| 1 | Zerodha | 10 |
| 2 | Upstox | 10 |
| 3 | IIFL | 9 |
| 4 | Groww | 8 |
| 5 | Angel One | 8 |
| 6 | Kotak Securities | 8 |
| 7 | HDFC Securities | 8 |
| 8 | ICICI Direct | 8 |
| 9 | Motilal Oswal | 7 |
| 10 | Edelweiss | 7 |
Small Investors
This refers to investors who have limited capital to invest and are looking for brokers who offer low minimum investment requirements, fractional investing, and other features that cater to the needs of small investors.
| Rank | Demat Ac | Expert Rating |
| 1 | Zerodha | 9 |
| 2 | Upstox | 9 |
| 3 | IIFL | 9 |
| 4 | Groww | 9 |
| 5 | Edelweiss | 8 |
| 6 | ICICI Direct | 8 |
| 7 | Motilal Oswal | 8 |
| 8 | Angel One | 7 |
| 9 | Kotak Securities | 7 |
| 10 | HDFC Securities | 7 |
IPO Investment
This parameter assesses the broker’s ability to provide access to initial public offerings (IPOs) to investors.
Brokers who offer IPO investment services can provide investors with the opportunity to participate in the early stages of a company’s growth and potentially benefit from price appreciation.
| Rank | Demat Ac | Expert Rating |
| 1 | Zerodha | 9 |
| 2 | Upstox | 9 |
| 3 | IIFL | 9 |
| 4 | Groww | 9 |
| 5 | Kotak Securities | 9 |
| 6 | ICICI Direct | 8 |
| 7 | Motilal Oswal | 8 |
| 8 | Angel One | 8 |
| 9 | Edelweiss | 8 |
| 10 | HDFC Securities | 7 |
Long-Term Investment
This refers to investors who hold their investments for an extended period, typically several years or more.
Brokers who offer portfolio analysis tools, research reports, and other features that cater to long-term investors may be better suited for this type of investor.
| Rank | Demat Ac | Expert Rating |
| 1 | Zerodha | 10 |
| 2 | Upstox | 10 |
| 3 | Edelweiss | 9 |
| 4 | Groww | 9 |
| 5 | Kotak Securities | 9 |
| 6 | ICICI Direct | 9 |
| 7 | Motilal Oswal | 9 |
| 8 | Angel One | 8 |
| 9 | HDFC Securities | 8 |
| 10 | IIFL | 8 |
Portfolio Management Services
This refers to the ability of the broker to manage an investor’s portfolio on their behalf. Brokers offering comprehensive PMS services can help one generate profit by building a diversified and lucrative portfolio.
| Rank | Demat Ac | Expert Rating |
| 1 | Edelweiss | 10 |
| 2 | ICICI Direct | 10 |
| 3 | Motilal Oswal | 10 |
| 4 | Groww | 9 |
| 5 | Kotak Securities | 9 |
| 6 | HDFC Securities | 9 |
| 7 | Upstox | 8 |
| 8 | Angel One | 8 |
| 9 | IIFL | 8 |
| 10 | Zerodha | 7 |
Mutual Fund Investment
This parameter assesses the broker’s ability to offer access to a wide range of mutual funds, including both equity and debt funds.
Brokers who offer a large selection of mutual funds can help investors build a diversified portfolio and potentially generate higher returns.
| Rank | Demat Ac | Expert Rating |
| 1 | Zerodha | 10 |
| 2 | ICICI Direct | 10 |
| 3 | Motilal Oswal | 10 |
| 4 | Groww | 10 |
| 5 | Angel One | 9 |
| 6 | Edelweiss | 9 |
| 7 | Kotak Securities | 9 |
| 8 | HDFC Securities | 8 |
| 9 | Upstox | 8 |
| 10 | IIFL | 8 |
Banking Broker
This refers to brokers who also offer banking services, such as savings accounts, credit cards, and loans. Brokers who offer banking services can provide investors with a one-stop shop for all their financial needs.
| Rank | Demat Ac | Expert Rating |
| 1 | Kotak Securities | 10 |
| 2 | HDFC Securities | 10 |
| 3 | ICICI Direct | 9 |
| 4 | Motilal Oswal | 9 |
| 5 | IIFL | 9 |
| 6 | Angel One | 9 |
| 7 | Edelweiss | 9 |
| 8 | Groww | 7 |
| 9 | Zerodha | 7 |
| 10 | Upstox | 7 |
How to Select the Best Demat Account for Yourself?
Here are the steps that an investor must follow to find the Top demat account in India that will sit right with their investment objectives and requirements.
Compare Brokerage Charges: Always make it a point to check the brokerage commissions for the services offered by various Demat account providers. Look for a provider that offers competitive brokerage charges and discounts.
Check for Account Opening Charges: It is important to keep in mind that you can both types of Demat providers; the one that will provide free account opening services and others that will charge a certain account opening fee. Check for any additional fees, such as annual maintenance charges and transaction charges.
Look for User-Friendly Platforms: User-friendly platforms make trading and investment easier. Look for a Demat account provider that offers a user-friendly trading platform with advanced features such as real-time stock prices, customizable watchlists, and advanced charting tools.
Check Customer Support: Choose a Demat provider that offers good customer support, including phone, email, and chat support. This will help you resolve any issues or queries related to your account and investments.
Research on Additional Services: Look for additional services offered by Demat ac providers, such as IPO investment, mutual fund investment, and portfolio management services. This will help you manage your investments more efficiently.
Read Reviews and Ratings: Before finalizing a Demat provider, read reviews and ratings from other users to get an idea of their experiences with the provider.
Compare Top Demat Accounts in India
When it comes to demat accounts, there are multiple options in India. And they all have certain benefits and features that stand to be necessary to Compare the Top 10 Demat Accounts in India.
This is the reason why one should compare below are listed the best Demat accounts in India.
Groww Demat Account- Best Demat Account
Groww Demat Account is rated as the Best Demat Account in terms of multiple parameters. Some of the best features of the Groww Demat Ac are:
- Zero Account Opening Fees: Groww offers a completely free account opening process without any charges.
- Paperless Account Opening: The account opening process for a Groww Demat is entirely online and paperless.
- User-Friendly Mobile App: One of the best things about the Groww app is the user interface, which is simple and perfect for beginners.
- Low Brokerage Commision: Groww offers one of the lowest brokerage fees among all the leading Demat Ac providers in India.
- Mutual Fund Investments: Groww allows investors to invest in mutual funds at zero commission.
- Auto-Invest Feature: Groww offers an auto-invest feature that enables investors to automate their investments and buy stocks at regular intervals.
- Investment Recommendations: Groww provides personalized investment recommendations based on an investor’s risk appetite and investment goals.
- SIP Investments: Lastly, investors can choose to invest in mutual funds and SIP as well, to make their investment portfolio stronger and more disciplined.
Zerodha Demat Account- Top 10 Demat Account
When it comes to a wide variety of investment options and opportunities, then Zerodha is counted as one of the Top 10 Demat Account in India. Following are some of the best features of the Zerodha Demat Ac include:
- Low Brokerage: For beginners who are looking for cost-effective brokerage charges in a demat ac, Zerodha is their best choice.
- User-friendly Trading Platform: With the help of the app called Kite by Zerodha, one can complete various trading transactions smoothly.
- Technology Driven: Using the Zerodha Kite app, investors and traders can gather a lot of expert knowledge with their daily resources, innovative tools, and constant help.
- Educational Resources: One can also find educational resources like guides, online courses, blogs, etc. All these resources help in taking a more informed decision.
- Customer Support: Zerodha has a highly responsive customer support team that is available to assist users with any issues or queries they may have.
- Paperless Account Opening: Zerodha’s account opening process is completely online and paperless, making it easy and convenient for users to open an account.
Upstox Demat Account- Demat Account in India
Some of the best features of the Upstox Demat Account which you will be able to use if choose among the other Demat Account in India are:
- Low Brokerage: Upstox charges a flat brokerage of Rs. 20 per trade across segments and exchanges, making it one of the most affordable trading platforms in India.
- Advanced Trading Platforms: Upstox has multiple apps and platforms like Upstox Dartstock, Upstox Pro Web, Upstox Pro Mobile, etc. All these platforms are equipped with various indicators, tools, and real-time data for better decision-making.
- Quick Account Opening: The account opening process with Upstox is completely online and takes only a few minutes to complete. One can now easily open an account from a mobile without having to reach the bank. The process is simple, paperless, and hassle-free.
- Wide Range of Investment Options: Upstox offers a wide range of investment options including equities, futures & options, commodities, currencies, and mutual funds.
- In-Depth Market Analysis: Upstox provides in-depth market analysis, research reports, and trading insights to help investors make informed decisions.
- Advanced Order Types: Upstox offers advanced order types like cover orders, bracket orders, and trailing stop-loss orders to help traders minimize their risks and maximize their profits.
- Dedicated Customer Support: One can reach the customer support team of Upstox to get their issues solved.
Kotak Securities Demat Account- Best Demat Account in India
Some of the best features of Kotak Securities Demat Account, one of the Best Demat Account in India, are:
- Multiple Investment Options: You can find multiple types of investment opportunities with Kotak Securities Demat which ranges from IPO to ETFs to mutual funds and much more.
- Advanced Trading Platforms: KEAT Pro X, Kotak Stock Trader, and Fastlane are the three advanced trading platforms offered by Kotak Securities. And in return, these platforms are jam-packed with features, real-time data, and tools to analyze the market.
- Research And Analysis: Another feature that makes Kotak Securities safe and helpful as a Demat ac is the abundance of market insights, real-time data, and recommendations.
- Dedicated Customer Service: Kotak Securities has a dedicated customer service team that provides assistance and support to investors for any queries or issues related to their Demat.
- Easy Account Opening Process: Kotak Securities provides a hassle-free account opening process through which investors can open their Demat Ac online with minimum documentation and in a few simple steps.
ICICI Direct Demat Account- Top Demat Account in India
ICICI Direct Demat Account is one of the Top Demat Account in India. Here are a few of its greatest features:
- Trusted Brand: ICICI is one of the biggest names in the private banking sector. ICICI Direct, therefore, holds the same reputation of being the trusted brand among demat accounts in India.
- Multiple Account Options: One of the best features of ICICI Direct that makes it highly useful is their 3 in 1 account that comprises of demat, a trading account, and a savings account. You can also find the NRI demat ac and solo demat.
- Multiple Investment Options: There are multiple options when it comes to investment t like IPOs, equities, bonds, mutual funds, ETFs, etc.
Edelweiss Demat Account- Top 10 Demat Account in India
Edelweiss Demat Account is 6th in the Top 10 Demat Account in India. The following are some of the top features of the Edelweiss Demat:
- Easy Account Opening: Opening an account with Edelweiss Demat Ac is a quick and simple process. It is possible to accomplish it online in a few simple steps.
- Multiple Trading Platforms: Edelweiss provides a variety of user-friendly and powerful trading platforms, including Edelweiss.in, Edelweiss Xpress, and Edelweiss Mobile Trader.
- Research and Analysis Tools: Edelweiss provides its customers with in-depth market research and analysis tools such as the Edelweiss Stock Screener, Edelweiss Market Tracker, and Edelweiss Advisory Desk to assist them in making educated investment decisions.
- Competitive Brokerage Fees: Edelweiss provides competitive brokerage fees that are cheaper than those charged by certain other traditional brokers in India.
- Advanced Trading Features: Edelweiss provides complex trading options such as Bracket Order, Cover Order, and Trailing Stop Loss, which are beneficial for experienced traders.
- Strong Customer Support: Edelweiss offers a dedicated customer support team that responds quickly to any difficulties or questions about their accounts or trading.
Angel One Demat Account- Top 10 Demat in India
7th best Demat account in the list of Top 10 Demat in India is Angel One. Following are some of the best features of Angel One Demat Account are:
- User-Friendly Trading Platforms: There is multiple Angel One demat platform like Angel Broking App, Angel Speed Pro, and Angel Eye, but each of them makes trading a seamless process with absolute user-friendliness.
- Portfolio Management Services: Users can get complete portfolio management services while using Angel One Demat ac services.
- IPO Investments: Angel One’s online platform allows users to invest in IPOs, making the procedure simple.
- Sophisticated Trading Tools: To assist clients with their trading methods, Angel One offers sophisticated trading tools such as Heat Maps, Options Strategy Builder, and more.
Motilal Oswal Demat Account- Top Demat Account in India
Motilal Oswal is one of the Top Demat Account in India, providing a wide range of financial and trading services. Below are some of the best Motilal Oswal Demat Account features:
- Margin Funding: The broker offers margin funding to traders, allowing them to capitalize on market opportunities with minimal cash.
- Dedicated Relationship Managers: Each customer is assigned a dedicated relationship manager, who provides personalized investment advice and support.
- Robo-Advisory Services: Motilal Oswal also offers robo-advisory services to investors, which employ algorithms to make investment recommendations based on the client’s risk tolerance and financial goals.
- Investment Education: The broker offers multiple types of resources and educational guidelines for investors and traders to enhance their knowledge and abilities, such as webinars, seminars, and online courses.
IIFL Demat Account- Best Demat Account Online
Another one of the popular and trusted Best Demat Account Online options is The IIFL (India Infoline) Demat Account. The following are some of the greatest features of the IIFL Demat ac:
- Online And Offline Trading: Through its nationwide network of branches, IIFL offers the convenience of both online and offline trading.
- Advanced Trading Platforms: Trader Terminal and IIFL Markets are two sophisticated trading software and platforms used by the demat ac, which come with various analytical tools and indicators.
- Personalized Advisory Services: IIFL provides its customers with personalized advisory services in which they may consult with a dedicated relationship manager for financial advice and portfolio management.
- Margin Trading Facility: IIFL provides its customers with a margin trading facility, which allows them to purchase and sell stocks by paying a fraction of the total deal value.
- Mutual Fund Investments: Through its platform, IIFL provides the ease of investing in mutual funds, allowing consumers to select from a wide selection of mutual fund schemes.
HDFC Securities Demat Account-Top Demat Account Online
HDFC Securities Demat Account is the 10th on the list of Top Demat Account Online. Some of the best features are:
- Easy Transfer of Shares: The HDFC Securities Demat offers an easy and hassle-free process for transferring shares from one account to another.
- Seamless Integration with HDFC Bank Account: This Demat is seamlessly integrated with the HDFC Bank account, allowing customers to transfer funds between their bank account and the Demat with ease.
- Multiple Trading Platforms: HDFC Securities provides its customers with multiple trading platforms including a mobile app, a web-based platform, and a desktop trading terminal, enabling them to trade from anywhere at any time.
- Secure and Reliable: HDFC Securities uses advanced security measures to protect its customers’ personal and financial information, making it a safe and reliable platform for trading and investing.
Conclusion
There you go! When it comes to finding the best demat account in India, one should pay attention to different variables.
Like the account opening process, brokerage commission, customer service, type of investment options, analytical tools, and over-user experience. Zerodha, Groww, Upstox, and Kotak Securities are among the top Demat accounts in India.
They are offering reasonable brokerage costs, user-friendly interfaces, and a variety of investment alternatives appropriate for different types of investors.
ICICI Direct, HDFC Securities, Edelweiss, Angel One, Motilal Oswal, and IIFL all provide distinctive features and services that may appeal to individual investors.
Ultimately, the ideal Demat is determined by your requirements and preferences. Before making a final selection, it is essential that you extensively investigate and evaluate several possibilities.
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