10 Best Demat Account For Beginners In India 2024
These are the 10 Best Demat Account For Beginners for 2024.
In fact, I’ve used the demat accounts on this list to grow my money:
So if you want to invest in the stock market, you’ll love these demat accounts brokers.
Let’s dive right in.
Zerodha
If you’re a beginner investor looking for a Demat account, Zerodha is a great choice to consider. It’s a popular Indian brokerage firm offering an easy-to-use trading platform, making it perfect for new investors just starting out.
One of the best things about Zerodha is that it offers brokerage-free equity delivery and direct mutual funds. This means you don’t have to pay brokerage fees when you buy or sell shares for delivery. Plus, you can invest in mutual funds directly without having to go through a broker. This can save you a lot of money in the long run.
To open an account with Zerodha, you will be charged ₹200 and an additional ₹100 if you want to activate the commodity segment. Additionally, Zerodha charges Zerodha charges an annual maintenance fee of ₹300 for Demat accounts.
When it comes to brokerage charges, Zerodha offers minimal fees on transactions. The brokerage structure for Zerodha is as follows:
- ₹0 brokerage charges on Equity Delivery and Direct Mutual Funds
- ₹20 or 0.03% (whichever is lower per executed order) on Equity Intraday and F&O.
Additionally, Zerodha doesn’t charge any inactivity fees or require a minimum deposit, which makes it accessible to investors of all levels.
However, it’s important to note that Zerodha is only available for Indian residents and covers only the Indian market. So if you’re looking to invest in international markets, you’ll need to find another brokerage firm. Additionally, it takes some time and paperwork to Open an Account with Zerodha, so be prepared to go through the process.
Overall, Zerodha is a great choice for beginner investors who want to invest in the Indian market without having to pay high brokerage fees. Its user-friendly platform and low fees make it worth considering if you’re looking for a demat account.
Upstox
If you are a beginner looking for a Demat account, Upstox is a great option to consider. They offer a lifetime free Demat account with no AMC charges, making it an affordable choice for those just starting out.
One of the benefits of Upstox is its user-friendly platform. They have a software and mobile application that enables a smooth user interface and a seamless trading experience. This can be especially helpful for beginners who are still learning the ropes.
Upstox also offers easy accessibility with login options using biometrics or mobile number. This allows you to buy and sell stocks from their web, Android, or iOS platforms in just one click.
You can open a Demat account with Upstox for free, as there are no account opening charges.
Upstox charges a nominal annual maintenance fee of Rs. 300 for a Demat account, which is quite reasonable compared to many other brokerage firms.
Transaction charges for Upstox are also quite low. For delivery trades, Upstox charges a transaction fee of Rs. 20 per transaction, which is one of the lowest in the market. For intraday and F&O trades, Upstox charges a fee of Rs. 20 per trade executed or 0.01% of the turnover (whichever is lower).
In terms of security, Upstox has a secure onboarding process with eKYC and the ability to set up a Demat account with just your PAN and Aadhaar. This can give you peace of mind knowing that your information is protected.
Overall, Upstox is a great option for beginners looking for a free and user-friendly Demat account with easy accessibility and secure onboarding.
Angel One
If you are a beginner looking for the best demat account, Angel One is worth considering. This platform offers a simple account opening process that can be completed online. You can easily fill up your information on the sign-up form, enter the KYC details, and get your demat account details on your registered email ID. With Angel One, you can start trading in no time.
One of the advantages of Angel One is its economical demat account charges. The platform offers competitive brokerage rates, which can help you save money in the long run. Moreover, Angel One provides a seamless interface between banking and broking, making it easier for you to transfer funds and manage your investments.
There are no account opening charges to Open a Demat account with Angel One. However, the platform charges an Annual Maintenance Charge (AMC) of ₹240 from the second year onward.
When it comes to brokerage charges, Angel One offers a competitive fee structure. Here is the Angel One brokerage structure:
- ₹0 brokerage charges for Equity Delivery
- Flat ₹20 or 0.25% (whichever is lower) for Equity Intraday and all segments of F&O.
Another benefit of Angel One is its in-depth data analytics. The platform provides you with detailed reports and insights to help you make informed investment decisions. You can access real-time data on stock prices, market trends, and more. This can be especially helpful for beginners who are still learning about the stock market.
Overall, Angel One is a user-friendly platform that can help beginners navigate the world of stock trading. With its simple account opening process, competitive charges, and in-depth data analytics, Angel One is a great choice for anyone looking for the best demat account for beginners.
5Paisa
If you are looking for a demat account that is affordable and user-friendly, 5Paisa is a great option to consider. Here are some reasons why:
Unlike Zerodha, 5paisa doesn’t charge any Demat account opening fee. However, the platform charges an Annual Maintenance Charge (AMC) of ₹300 per year, which is reasonable and standard in the industry.
5paisa’s basic plan has a flat brokerage charge of ₹20 on equity and other segments. The net banking fee for this plan is ₹10, and the DP transaction charges are ₹12.5. There is no subscription fee for this plan.
- Easy to use: The platform is user-friendly and easy to navigate, which is great for beginners who are just starting out.
- Free research tools: 5Paisa offers a range of research tools that you can use to make informed investment decisions. These tools include stock screeners, market analysis, and more.
- Multiple investment options: With 5Paisa, you can invest in a range of investment options, including stocks, mutual funds, IPOs, and more.
- Fast account opening: Using their mobile app, you can open a demat account with 5Paisa in just a few minutes. All you need is your PAN card, Aadhaar card, and bank details.
Overall, 5Paisa is a great option for beginners who are looking for an affordable and user-friendly demat account. With low brokerage fees, free research tools, and a range of investment options, it’s a platform that can help you get started on your investment journey.
ICICIDirect
If you are a beginner in the world of investing and looking for a reliable Demat account, ICICIDirect is a great option to consider. ICICIDirect is a well-known name in the Indian stock market and offers its customers a wide range of investment options.
One of the biggest advantages of choosing ICICIDirect is its user-friendly platform. The website is easy to navigate, and you can easily open a Demat account online in just a few minutes. You can also access your account anytime through the mobile app.
ICICIDirect also offers a variety of investment options, including stocks, mutual funds, bonds, and more. This makes it a one-stop shop for all your investment needs. Additionally, the platform provides research reports, market analysis, and other tools to help you make informed investment decisions.
ICICIDirect allows you to open an account for free but charges an Annual Maintenance Charge (AMC) of Rs. 300 per year for Demat accounts. Additionally, the ICICIdirect charges a demat debit transaction fee of ₹20 per transaction for sell orders.
In terms of brokerage charges, ICICIDirect’s basic or Neo plan charges 0.55% irrespective of turnover on Equity, ₹20 per executed order on Equity Intraday and Equity Options, and ₹20 per executed order for all segments of F&O. The platform doesn’t charge any brokerage on Futures.
Overall, ICICIDirect is a great option for beginners looking for a reliable and user-friendly Demat account. With its wide range of investment options, low brokerage charges, and research tools, it can help you kickstart your investment journey with ease.
Sharekhan
If you are a beginner looking for a reliable demat account, Sharekhan is worth considering. It is one of India’s oldest and most trusted stockbrokers, with over 2.8 million customers across 670+ cities.
Sharekhan offers a user-friendly online platform that makes it easy for beginners to trade and invest in the stock market. The platform provides a range of investment products, including equities and futures and options (F&O), as well as research reports and market insights to help you make informed investment decisions.
One of the best things about Sharekhan is that it offers a 3-in-1 account, which means you can link your demat, trading, and bank accounts together. This makes it easy to transfer funds and settle trades without having to worry about multiple transactions.
Sharekhan also has a strong customer support team that is available to help you with any queries or issues you may have. You can contact them via phone, email, or live chat, and they will be happy to assist you.
In terms of fees, Sharekhan charges a brokerage fee of 0.1% on delivery trades and 0.01% on intraday trades, with a minimum brokerage of Rs. 16 per trade. It also charges an annual maintenance fee of Rs. 400 for its demat account.
Overall, Sharekhan is a great option for beginners who are looking for a reliable and user-friendly demat account with strong customer support.
Paytm Money
If you are a beginner looking for a Demat account with low commission rates, Paytm Money could be a great option for you. Paytm Money offers a user-friendly online platform where you can open a Demat account and start trading in just a few clicks.
With Paytm Money, you can invest in direct mutual funds with zero commission, saving on transaction costs and getting more returns on your investment. You can also invest in National Pension System (NPS) and save taxes while enjoying regular pension income.
Opening a Demat account with Paytm Money is easy. You just need to follow a few simple steps on their website to complete the registration process. Once your account is verified, you can start trading in stocks, mutual funds, and other securities.
Paytm Money charges an account opening fee of ₹200 and an annual fee of ₹300 for its mobile application. However, customers are not required to pay any Demat account annual maintenance fee for using the platform.
Moving on to brokerage charges, Paytm Money charges a brokerage fee of ₹15 or 2.5% of turnover per order on stocks for Equity Delivery and ₹15 or 0.5% of turnover per executed order on Equity Intraday. For the F&O segment, the brokerage fee is ₹15 or 0.2% of turnover per executed order.
Paytm Money also offers a range of tools and resources to help you make informed investment decisions. You can access real-time market data, research reports, and expert insights to stay up-to-date with the latest trends and developments in the market.
Paytm Money is a great choice for beginners who want to start trading in the stock market without paying high commission rates. With its user-friendly platform, low fees, and wide range of investment options, Paytm Money makes it easy for you to build your portfolio and grow your wealth over time.
Kotak Securities
If you are a beginner looking for a reliable and cost-effective demat account, Kotak Securities is a great option to consider. Here are some of the benefits of opening a demat account with Kotak Securities:
- Zero account opening charges: Kotak Securities offers free account opening for demat accounts.
- Low brokerage charges: Kotak Securities charges a flat brokerage fee of Rs. 20 per trade for intraday and F&O trading.
- Advanced trading platforms: Kotak Securities offers a range of trading platforms, including KEAT Pro X, Kotak Stock Trader, and Kotak Securities Mobile App. These platforms are user-friendly and offer advanced features to help you make informed investment decisions.
- Research and analysis: Kotak Securities provides research reports and analysis to help you stay updated on market trends and make informed investment decisions.
- Customer support: Kotak Securities has a dedicated customer support team that is available to help you with any queries or issues you may face while trading.
In addition to these benefits, Kotak Securities offers various other services, including mutual fund investments, IPO investments, and more. With its user-friendly trading platforms, low brokerage charges, and reliable customer support, Kotak Securities is a great choice for beginners looking to start their investment journey.
Dhan
Dhan is an excellent option if you’re a beginner looking for a demat account. It’s a product-led stockbroking platform that offers a lightning-fast investing and trading experience to its active client base of 1,21,505 till April 2023.
Dhan offers a host of features that make it an attractive option for beginners. Here are some of them:
- Margin Trading Facility: Open a demat account with Dhan to trade with 4x leverage on over 950 stocks!
- TradingView Integration: Dhan is integrated with TradingView, one of the most popular charting platforms. You can trade directly from charts, making trading much more convenient.
- Zero AMC and Platform Fees: Dhan doesn’t charge any AMC or platform fees, which means you can use the platform for free.
Dhan offers lightning-fast stock trading and investing at industry-standard prices. Here’s a breakdown of their pricing:
| Type of Trade | Price |
|---|---|
| Account Opening | Free |
| AMC & Platform Fees | Free |
| Equity Delivery, ETFs & IPO | Free |
| Equity Intraday & All Segment Futures | ₹20 per order |
As you can see, Dhan’s pricing is quite competitive, and they don’t charge any hidden fees.
Dhan is an excellent demat account option for beginners. It offers a host of features, including margin trading, TradingView integration, and zero AMC and platform fees. Their pricing is also quite competitive, and they don’t charge any hidden fees.
IIFL
If you are a beginner looking for a hassle-free demat account, IIFL Securities is a great option. With over 22 lakh happy customers and 1 lac crore+ AUM, you can trust IIFL to provide expert-backed research and recommendations.
One of the standout features of IIFL’s demat account is the ability to bid for IPOs before they are opened for subscription. This can give you an edge in the market and help you get in on the ground floor of promising companies.
IIFL’s demat account also comes with industry-leading trading platforms, including advanced prebuilt screeners and algo trading tools. These can help you make informed decisions and execute trades quickly and easily.
When it comes to fees, IIFL offers competitive rates for demat account opening charges and brokerage fees. Plus, their dedicated support team is available to help you every step of the way.
Overall, if you are a beginner looking for a reliable and user-friendly demat account, IIFL Securities is definitely worth considering.
Frequently Asked Questions
Frequently Asked Questions
What are the top demat account brokers for beginners in India?
When it comes to choosing a Demat account broker for beginners in India, some of the top options include Zerodha demat account, Upstox demat account, and 5Paisa demat account. These brokers offer easy-to-use platforms, low brokerage fees, and a wide range of investment options that are perfect for those who are just starting out.
Which demat account has the lowest brokerage for beginners?
If you’re looking for a demat account with the lowest brokerage fees for beginners, you may want to consider Zerodha. This broker charges a flat fee of Rs. 20 per trade, regardless of the size of the trade. This can be a great option for those who are just starting out and want to keep their costs low.
What are the top 5 demat account brokers in India?
The top 5 demat account brokers in India include Zerodha, Upstox, 5Paisa, Angel Broking, and ICICI Direct. These brokers offer a range of investment options, low brokerage fees, and easy-to-use platforms that are perfect for beginners.
Which demat account is the safest for beginners?
When it comes to safety, all demat account brokers in India are regulated by the Securities and Exchange Board of India (SEBI), which helps to ensure that your investments are safe. However, if you’re looking for a demat account broker that offers additional security features, you may want to consider Angel Broking or ICICI Direct.
Which demat account app is best for beginners?
If you’re looking for a demat account app that is easy to use and offers a range of investment options, you may want to consider Zerodha’s Kite app or Upstox’s Pro app. Both of these apps are user-friendly and offer a range of features that are perfect for beginners.
What makes a demat account the best choice for beginners?
When choosing a demat account for beginners, there are a few key factors to consider. These include low brokerage fees, a user-friendly platform, a wide range of investment options, and good customer support. By choosing a demat account offering these features, you can ensure you have the best possible experience as a beginner investor.
What is the account opening charge for a demat account for beginners in India?
The account opening charge for a demat account may vary based on the service provider. Beginners can check with different demat account providers to compare the charges.
Which stock broker offers the best demat account for beginners in India?
Different stock brokers cater to beginners’ needs. As a beginner, you may consider checking platforms like Zerodha, Upstox, Groww, and others to find one that suits your requirements.
Can I link my savings account with the demat account for easy fund transfers?
Yes, most demat account providers allow you to link your savings account for seamless fund transfers while trading or investing.
Is intraday trading suitable for beginners in the share market?
Intraday trading involves higher risks and requires expertise. Beginners are advised to start with long-term investments and gradually explore intraday trading.
Which is the best discount broker offering a demat account for beginners?
Many discount brokers, such as Zerodha, Upstox, and Groww, are popular choices for beginners due to their user-friendly platforms and cost-effective services.
What are the account maintenance charges for a demat account?
Account maintenance charges, also known as Annual Maintenance Charges (AMC), may apply to demat accounts. Beginners should check with their chosen demat account provider for specific details.
AS A BEGINNER, can I open a demat account with HDFC Securities or ICICI Direct?
Yes, both HDFC Securities and ICICI Direct offer demat account services. Beginners can explore their offerings to see which one suits their needs.
What are the benefits of choosing a discount broker for a demat account as a beginner?
Discount brokers usually offer lower brokerage fees, making them cost-effective for beginners who are just starting their investment journey.
Do demat account providers offer market research and analysis tools for beginners?
Many demat account providers offer market research and analysis tools to help beginners make informed investment decisions.
Can I have more than one demat account with different providers as a beginner?
Yes, beginners can have Multiple demat accounts with different providers. However, it’s essential to manage them effectively and avoid duplication of investments.
