Creation of Demat accounts revolutionised the way trades were conducted at the stock exchanges. It eliminated the time-consuming and often mismanaged procedure of purchasing and selling shares through the 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 danger of fraud or theft associated with paper based transactions.
It is now mandatory to open a Demat account if you want to invest in shares and securities and trade them at the stock market. Check out this list of 10 best Demat accounts in India in 2023 with their features, pros, cons and price. Read on!
|Axis Direct Demat Account||Account opening charges: Nil|
Account closing charges: Nil
Account maintenance charges:
1. Axis Bank Customer
First year: Nil
Second year onwards: ₹750
2. Non-Axis Bank Customer
First year: ₹350
Second year onwards: ₹750
|SAS Online||Brokerage: ₹999 per month or ₹9 per trade |
Demat account administration fee: ₹200 per annum (+GST)
Account opening fee: ₹200
|SBICAP Securities Demat Account||Account opening charges: Nil|
Annual maintenance charges: ₹400
|ICICI Direct Demat Account||Account opening charges: Nil to ₹975|
Account maintenance charges: Nil for first year; ₹700 from the 2nd year
|Kotak Securities Demat Account||Account opening charges: Nil |
Brokerage charges: Nil
|HDFC Securities Demat Account||Charges vary as per pricing plans|
Futures and Options: ₹20 per order
|Zerodha Demat Account||Brokerage: Nil|
Intraday and F&O trades: ₹20 or 0.03%, whichever is less
|Upstox Demat Account||Account maintenance fee: Nil|
Account opening fee: Nil
|IIFL Demat Account||Account maintenance fee: Nil for the first year; ₹250 + GST from the next year onwards|
Account opening charges: Nil
Brokerage: Variable as per plans
|Sharekhan Demat Account||Account opening charges: Nil|
Account maintenance charges: Nil for the first year
When it comes to the best demat accounts in India, over 2 million clients trust Axis Direct Demat account. Axis provides you with a variety of investment choices as well as effective market research tools to aid you in your decision-making. It’s great for those who wish to master the fundamentals of trading. Axis Direct’s 3-in-1 account includes free-market analytics insights from specialists as well as learning tools for beginners.
SAS Online is a trading platform that provides you with a sophisticated programme that allows you to purchase or sell securities instantaneously, allowing you to profit from market swings to the fullest extent possible. This is one of the best options for active traders. For aggressive traders, SAS Online is a viable solution. It provides you with low-cost trading alternatives as well as some unique features.
SBICAP Securities Demat Account is an online and mobile-based trading platform that provides educational resources and market analysis tools to assist you make informed investment decisions. SBICAP Securities Demat Account is a subsidiary of the renowned SBI group. Their instructional features, market statistics, and trading recommendations justify the app’s designation as one of India’s best Demat accounts.
The 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 a variety of other assets. The ICICI Direct Demat Account provides market knowledge to assist you in investing, as well as the ability to trade fractional shares of the worldwide market.
Over 20 million investors use the Kotak Securities Demat Account. It provides you with a three-in-one account, market analysis tools, and trading advice. This is one of the best options for constructing a low-cost portfolio. Because of the learning resources and the option to invest in small cases, Kotak Securities may be an appropriate solution for people who want to invest with a small amount of money or for beginners.
HDFC Securities Demat Account is a 20-year-old trading services 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 of your trading needs. You can trade Indian and international equities, as well as get customer service 24 hours a day, seven days a week.
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 assist you in making informed investment decisions. Zerodha offers all you need in a Demat account. The market research instruments are commendable.
With an Upstox Demat Account, you can trade stocks, mutual funds, digital gold, futures, and more using a digital account. The software also assists you in making smarter judgments by offering market data in the form of charts. This could be one of the best options to avoid excessive brokerage fees. Upstox is one of the most secure Demat accounts available in India. Upstox offers zero-commission trading, which is a significant benefit.
IIFL Demat Account has a 25-year track record in the market. It allows you to open a Demat account for free and provides market analysis tools, allowing you to invest when you are well informed about market movements. This is one of the best options for trading at a low cost. Price alerts and portfolio analysis software can be extremely useful too.
Sharekhan Demat Account is an all-in-one trading platform with learning, portfolio management, market research, and other features. Beginners and professional traders both will benefit from this strategy. If you’re looking for the best Demat trading account in India, Sharekhan could be a great choice. It allows you to trade stocks, bonds, mutual funds, and a variety of other assets. You can also hire professionals to manage and rebalance your portfolio.
Demat accounts have brought a revolution in the markets, tremendously increasing efficiency of the market apart from offering heightened security for the traders. The digitization has allowed for much faster orders as well as execution of the orders with accuracy and safety. In unpredictable market situations, the ability to buy and sell instantly might result in significant profits. When choosing a Demat account, a beginner could assess brokers for the kind of services they offer, additional features such as access to research reports and on-call support, cost of opening demat account, the fees and charges they levy, etc., to make an informed choice.
Stocks could be a valuable option for your investment portfolio. But, they carry significant risks. Mutual funds, being managed by qualified and professional fund managers, could be a better option for novice investors, who do not understand the complexities of stock market investing. Moreover, mutual funds could help you diversify your portfolio, while helping you maximise your profit margins, in line with the returns of the underlying indices, asset classes, or individual securities. Investing in mutual funds can also be simpler because you won’t need a trading or a demat account.
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After logging into your Demat and trading account (that is already linked to your bank account), place a ‘buy’ or ‘sell’ request in your trading account so that the depository participant can forward the request to the stock exchange. For ‘buy’ orders, the stock exchange then looks for a seller(s) who wants to sell the shares at the asked price. If the price matches, the request is then shared with the clearing houses to debit those shares from the seller’s Demat and credit them to the buyer’s Demat account.
You’ll need to submit your PAN Card and Aadhaar or Passport for identity proof, ITR, salary slips, account statement for the last 6 months, audited business annual accounts, passport sized photos among others as per the terms and conditions of the Demat account provider.
There are primarily three types of Demat accounts. Firstly, regular Demat accounts that are meant for Indian residents; secondly, repatriable Demat accounts meant for NRIs and thirdly, non-repatriable Demat accounts also meant for NRIs that must be linked to an NRO account.
BSDA stands for Basic Services Demat Accounts that have been recently introduced by SEBI. This is a type of a regular Demat account but with zero maintenance charges if the holding value is less than ₹50,000, and ₹100 p.a. For holding value between ₹50,000 and ₹2 lakh.
No. A Demat account holds shares and securities in a digital form, while a trading account allows you to buy and sell shares in the stock market.
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Disclaimer: Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.
This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article.
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