Demat Account | Share Market Trading | Stocks discount broker | Icici | Hdfc | Zerodha | Upstox | Motilal Oswal

 I opened my first Demat account in 2016 after getting my first job because I wanted to invest 20% of my salary in the stock market.

I had no knowledge of stock investing at that time so I thought brokers like ICICI or Sharekhan would help me pick the right stocks. 

Opening an account with ICICI was easy because I was having a salary account with ICICI bank. They started sending me tips on stock trading and investing. 

I kept on buying and selling as per their recommendation but later I realised that I am losing a lot of money in the brokerage because ICICI was charging as high as 0.5% on my trades. 

I switched to Sharekhan to save brokerage but they were also charging 0.1% on the buy/sell transactions.

I came to know about discount broker Zerodha in 2015 that was charging ZERO on stock delivery and flat Rs. 20 per transaction for day trading.

In the last 2-3 years, many companies have started offering demat & trading services at flat rates. New companies waive off account opening fees and also offer some additional perks.

If you buy stocks worth Rs. 1,00,000 then you would pay approx 500 Rs.+ taxes to ICICI but the same you can buy at zero charges + govt fees + taxes from discount brokers like Zerodha, Upstox and 5Paisa.  

Our Top Picks For Best Demat & Trading Account in India 2022

Every broker has some advantages and disadvantages. Discount brokers focus on improving their trading platforms while full-service brokers focus on improving customer service.

Your experience with discount broking customer service may not be good but you would save a lot of money in brokerage.  

Here is the list of the top 10 best Demat accounts in India 2022

Zerodha Demat Account – Best discount broker in India

Upstox Demat Account – Great for an alternative to Zerodha

Paytm Money Demat Account – Lowest brokerage of Rs 10 per trade

5paisa Demat Account – Best for no AMC for only traders

IIFL Demat Account – Great for first year free

Angel Broking – Great brokerage plan from full-service broker

Sharekhan Demat Account – offers a wide range of financial products

Religare Demat Account – Great for lifetime free AMC option

Motilal Oswal Demat Account – Great for financial services

ICICI Direct Demat Account – Good for ICICI account holdersnull

Best Demat Account With Lowest Brokerage in India 2022

#1. Zerodha Demat Account Review

Zerodha is the largest and most trusted discount broker with a user base of more than 30 Lakh. The biggest reason for Zerodha’s success is its customer support which is better than all other discount brokers. 

Zerodha charges a lower brokerage fee of 0.03% or Rs. 20 per executed order whichever is lower. You can save up to 90% as compared to other full-service stockbrokers if you trade in high volumes. The stock delivery trade is free at Zerodha. 

You will get the trading platforms with advanced charts and other tools for better technical analysis with Zerodha.

Why Zerodha is at #1

Most trusted broker in India

Fix Rs. 20 per trade on intraday trades

Zero brokerage on the stock delivery  

Good customer support 

Best charts and tools for technical analysis

Account Charges

Demat & trading account opening charges – Rs 200

Commodity account opening charges – Rs 100

Annual maintenance charges – Rs 300 per year

Zerodha Brokerage Charges

Equity Delivery- zero brokerage

Equity Intraday- 0.03% or Rs 20 per executed order whichever is lower

Equity Futures- 0.03% or Rs 20 per executed order whichever is lower

Equity Options-  flat Rs 20 per executed order

Zerodha Trading Platforms

Zerodha Kite 3.0 – A complete trading solution for the investors and traders that provides streaming price data, multi-market access, advanced charts and simple UI.

Kite by Zerodha Mobile App – A mobile app version of Kite 3.0 for a seamless trading experience, especially for the young generation (Android/iOS) smartphone users.

Zerodha Coin – A platform that lets you buy direct mutual funds online without paying any commissions.

Key Benefits of Zerodha

Delivery is totally free. No brokerage on delivery.

No minimum cap of brokerage per transaction.

Maximum brokerage charge capped to Rs 20 irrespective of transaction volume.

Provide a margin from 4 to 15 times.

#2. Upstox Demat & Trading Account Review

Upstox is one of the best discount brokers in India due to cheap brokerage charges, advanced technology platforms, and high margins. 

Upstox charges a fixed brokerage of Rs. 20 per trade for intraday irrespective of the trading volume. You can save a good amount in brokerages when compared to other full brokers.

You will get the fastest & best online trading platform in India with Upstox which is the main requirement for trading. Upstox is offering Free account opening with zero AMC charges for a limited period.

Why Upstox is at number #2

Free account opening & Zero AMC

Get free brokergae credit of Rs 1000 

Rs. 20 per trade for equity delivery

Fast account opening process 

Upstox Limited Time offer 

Free account opening

Zero AMC charges

Prepaid Brokerage worth Rs 1000 valid for 30 days

Upstox Account Regular Fee & Charges

Upstox Demat and Trading Account Opening – Free (limited time offer) 

Upstox Annual Maintenance Charges – Zero (limited time offer) 

Upstox Trading Brokerage Charges 

Type Brokerage

Equity Delivery Rs. 20 or 2.5% whichever is lower

Equity Intraday Lower of Rs. 20 per executed order or 0.05%

Equity Futures Lower of Rs. 20 per executed order or 0.05%

Equity Options Rs. 20 per executed order

Currency Futures & Options Lower of Rs. 20 per executed order or 0.05%

Commodity F&O Lower of Rs. 20 per executed order or 0.05%

Advantages of Upstox Trading Account

Free account opening with zero AMC

Great trading platforms

Fix & low brokerage irrespective of trade volume

What We Didn’t Like

You cannot make the investment to FPO

#3. Paytm Money Demat Account Review

Paytm launched – Paytm Money (broking & investment platform) in 2019, with the lowest flat Rs. 10 charges for intraday trading in equity cash, equity F&O and currency F&O.

60 lacs users trust Paytm money for investments in stocks, mutual fund investment, NPS, IPOs and ETFs. Paytm money fees structure is similar to discount brokers.  

You can open Paytm Money Demat account if you are looking for the lowest brokering changes.

Paytm Brokerage Charges   

Delivery Trades – Rs. 0.01 (1 paisa per order)

Intraday trades – Rs. 10 or 0.05% of turnover whichever is less for both legs

F&O trades – Rs. 10 or 0.02% of turnover whichever is less for both legs

Paytm offers Demat AMC for – Rs. 0. As compared to a minimum of Rs. 200 at other stockbrokers. But you need to pay Rs 300 annually for the trading platform fee.

But you need to pay additional charges like – 

Annual Platform fees – Rs. 300 annually

Digital KYC charges – Rs. 200 one time 

Call and Trade order charges – Rs. 300 per executed order

Payment gateway charges – Netbanking – Rs. 10. UPI – Rs. 0

USP of Paytm Money Demat cum Trading Account 

Rs. 0 delivery charges (1 paisa per order)

One of lowest flat Rs. 10 brokerages on trading

The account opening is hassle-free, paperless, and online. You need to download the Paytm money app from Google Playstore or the Apple store to complete KYC.

Paytm Money Platforms

Mobile trading app

Web Browser trading platform

Both the platforms are secured using 2-FA authentication, fingerprint and PIN protection. You can access real-time market information on top gainers, losers and sector-wise indices. Use advanced charts, indicators and drawing tools.

What I Didn’t like –

Rs. 200 for digital KYC charges

Rs. 300 platform charges

Commodity trading option unavailable

#4. 5Paisa Demat Account Review

5Paisa charges the lowest brokerage charges of flat Rs 10. per trade under the addon Ultra Trader pack. You can place a single trade worth crores and pay brokerage of just Rs 10 per trade.

The Ultra trader pack comes with a monthly price of Rs. 999. Without the pack, 5Paisa charges a flat brokerage fee of Rs. 20 per executed order.

You can use a 5Paisa mobile trading app for trading. 5Paisa mobile app is the best mobile app in India in terms of easy usability, user experience, and fast speed. 

You would get your 5Paisa account opened on the same day on submitting all the documents. If you are looking for the lowest brokerage demat account, then you go with 5Paisa. 

Why 5Paisa is at #3

Lowest brokerage charges of Rs 10 per trade

Zero brokerage on delivery 

Fastest account opening process 

Offers the best trading app with easy to use. 

Click to open FREE 5Paisa Account

5Paisa Annual Charges Details

5paisa offers an All-in-one investment account with 2 different addon packs

Research & Idea Pack – Rs. 499 per month. Brokerage Rs. 20 per trade and AMC Rs. 45 per month.  

Ultra Trader Pack – Rs. 999 per month. Brokerage Rs. 10 per trade and NIL AMC charges.  

You need to pay maintenance charges only for the traded month under the Research & Idea pack. 

5paisa account opening is FREE. 

Margin provided by 5Paisa

Trading Segment Research & Idea Pack Ultra Trader Pack

Equity intraday buy Upto 20x Upto 20x

Equity intraday sell Upto 10x Upto 10x 

Equity Futures 3.5x 3.5x

Equity Options – long 1x 1x

Equity Options – short 3.5x 4x on normal days,

6x on expiry days

Currency Futures 3x 3x

Currency Options Long – 1x

Short – 3x Long – 1x

Short – 3x

Commodity Futures Upto 2x Upto 2x

Commodity Option 1x 1x

5Paisa Brokerage Charges

5Paisa offers two addon plans – the Research & Idea pack and the Ultra Trader Pack. 5Paisa brokerage charges under different both the pack are under; 

Trading Segment Research & Idea Pack Ultra Trader Pack

Equity delivery Rs. 20 per executed order Rs. 10 per executed order

Equity Intraday Rs. 20 per executed order Rs. 10 per executed order

Equity derivatives Rs. 20 per executed order Rs. 10 per executed order

Currency derivatives Rs. 20 per executed order Rs. 10 per executed order

Commodity derivatives Rs. 20 per executed order Rs. 10 per executed order

Note – Under the Ultra Trader pack, the first 100 trades are free every month. From 101st trade, you need to pay a flat fee of Rs. 10 per executed order on all segments. 

5Paisa Trading Platforms

5Paisa Trader Station Web – 5Paisa is for the low volume traders. The web-based platform gives easy access to portfolio, positions and holdings data.

5Paisa .EXE Trader Terminal – The trader terminal is for high volume traders which provide a powerful interface and fast execution. You get a real-time market price, advanced charts with tools and past stock prices. 

5Paisa App – The app is for trading on smartphones with easy access to markets and a great user experience. 

#5. IIFL Demat Account Review

IIFL Securities Ltd (IIFL) is one of the biggest full-service stockbroker with more than 40 Lakh customer. IIFL Demat account is good for investors who need guidance and research support while making investment decisions.

You would need to pay a percentage based brokerage for trading & value investing. IIFL offers 3 different brokerage plan which includes variable brokerage, flat brokerage and value-added brokerage.

IIFL also offers value-added services which includes 

Research advisory

Market & sector reports & Information

Options Trading Using Sensibull

Loan Products (Home, Personal, Gold, Against Property & Business Loan)

Mutual Fund Investment

Mutual Fund Investment

Wealth & Financial Management

NRI ServicesInstitutional Equities & Investment Banking

You can open IIFL Demat account Free along with zero AMC charges for the first year. 

IIFL Account Opening Charges

Account opening charges – FREE 

First-year annual maintenance charges – FREE (limited time)

Annual maintenance charges second year onwards – Rs 250

IIFL Brokerage Charges

Stock delivery – Free 

Intraday, futures & options – Flat Rs 20/trade

Benefits of IIFL Demat Account

Free account opening & zero first year AMC 

Lower brokerage charges as compared to other full-service brokers

Research reports on 500+ stocks, sector summary, daily stock tips and recommendations

Value-added services like IPO & mutual fund investment.

#6. Angel Broking Demat Account

Angel Broking Demat Account Review

Angel broking is one of the oldest brokerage companies in India having 2.15 million broking accounts.

Angel broking‘s customer care service is up to the mark. I recommend Angel Broking only if your Adhaar Card is linked with your mobile number.

You can complete your entire application online and start trading after validating your identity with Adhaar OTP.

Angel Broking Provided Trading Platforms

Angel Broking Trade – A web-based platform useful for portfolio tracking and online web trading. The platform provides up-to-date market information and live news. I use Angel Broking trade platform for transactions.

Angel Broking App –  Loaded with ARQ technology for personalized advisory. The app can be used to trade, view current market prices and track your portfolio.

Angel Speed Pro –  An installable software comes with 30 days intraday and 20 years historical data. The platform integrates news flash and gives access to various reports. 

Additional Services

Margin provided up to 10 times of the amount deposit.

You can start trading within 1 hour through digital KYC.

Account Charges of Angel Broking

Trading Account Opening Charges – Rs 0.

Demat Account Opening Charges – Rs 0.

Annual Maintenance Charges – Rs. 0 for the first year then Rs. 450 per annum.

Check out complete angel broking review.

Best Demat Account for Small Investors

#7. Sharekhan Demat & Trading Account Review

Sharekhan is one of the leading online brokerage company having more than 20 Lakh customer base. Presently the company provides service from 3200 share shops across 541 cities.

Account Charges of Sharekhan account

Trading Account Opening Charges – Nil

Demat Account Opening Charges – Nil

Annual Maintenance Charges – Rs. 400 per annum (1st year free)

Benefits of Sharekhan

NIL account opening charges 

No annual maintenance charge for the first year

Sharekhan provides online & offline training workshops to investors

Free call & trade facility

Drawbacks of Sharekhan

0.02% brokerage charges on the second leg.

The brokerage rate is higher as compared to other stockbrokers. But you can negotiate at the time of account opening.

#8. Motilal Oswal Demat Account Review

Oswal Securies Account Review

Motilal Oswal provides a huge number of services such as private wealth management, retail broking, and distribution, institutional broking, asset management, investment banking, private equity, commodity broking, currency broking, principal strategies & home finance.

Presently the company has more than 2200 business locations with over 10 Lakh registered customers. Motilal Oswal’s solid research-based advice is the reason for such a strong customer base.

They spend Around 10% revenue on research and on hiring & training for research. I do my own research before buying any stocks, so their research calls are not helpful to me.

Account Charges

Demat Account Opening Charges – Rs 0

Trading  Account Opening Charges – Rs 0

Annual Maintenance Charges –  up to Rs 899 depending on the scheme.

Note – You have the option to pay Rs. 2,500 as one time AMC charges under the lifetime AMC scheme.

Motilal Oswal Brokerage Charges

Segment Brokerage

Equity Intraday 0.05%

Equity Delivery 0.50%

Equity Futures 0.05%

Equity Options Rs. 70 per lot

Motilal Oswal Trading Platforms

MO Trader Desktop Trading Platform – A desktop-based platform that needs to installed on your PC or laptop. The system provides access to over 30,000 research reports across all asset classes.

MO Trader Web Platform – Where trading account can be accessed online easily with any browser on the web

MO Trader Mobile App – A mobile platform for smartphone users providing real-time data and trade execution.

Benefits of Motilal Oswal

Award-winning research advisory covering 45 sectors and 80,000+ reports.

Lots of value-added services like portfolio management services, FD, Gold, US equities & Bond investment

#09. ICICI Direct Demat and Trading Account Review

ICICI direct is one the largest stock brokerage company having more than 20 Lakh customers. ICICI Direct provides a wide range of services and investment options which includes

Investment in equities, derivatives, mutual funds, IPO, NCD & bonds, ETF and currency.

Wealth products. ELocker and NPS investment.

Home loans & loans against securities.

Who Should Apply

If your trading volume is low then the ICICI Direct account is best for you.

If you have an existing ICICI saving account and want to invest in IPO and Mutual Funds.

You will get 3-in-1 account, i.e Saving + Trading + Demat account rolled into one

The 3-in-1 account offers easy to transfer in and transfer out money.

ICICI offers 3 types of brokerage plans

1) ICICI direct Prime – with access to premium research reports and instant payout through eATM for the shares sold. 

Prime plan in Rs. Cash Equity Futures Equity Options per lot Currency Futures Currency Options

900 0.25% 0.025% Rs. 35 Rs. 20 per order & Rs. 2 per lot Rs. 20 per order & Rs. 2 per lot

4,500 0.18% 0.018% Rs. 25 Rs. 20 per order & Rs. 2 per lot Rs. 20 per order & Rs. 2 per lot

9,500 0.15% 0.015% Rs. 20 Rs. 20 per order & Rs. 2 per lot Rs. 20 per order & Rs. 2 per lot

2) I- Secure Plan – Where a fixed percentage of brokerage of 0.55% is charged on

3) Prepaid Brokerage Plan – You have to pay prepaid brokerage under this plan. The brokerage rate is lesser as compare to the other two plan. But your money will be locked & not beneficial for seasonal traders or investors to lock their money.

Prepaid plan in Rs. Cash Equity Futures Equity Options per lot Currency Futures Currency Options

5000 0.25% 0.025% Rs. 35 Rs. 20 per order & Rs. 2 per lot Rs. 20 per order & Rs. 2 per lot

12,500 0.22% 0.022% Rs. 30 Rs. 20 per order & Rs. 2 per lot Rs. 20 per order & Rs. 2 per lot

25,000 0.18% 0.018% Rs. 25 Rs. 20 per order & Rs. 2 per lot Rs. 20 per order & Rs. 2 per lot

50,000 0.15% 0.015% Rs. 20 Rs. 20 per order & Rs. 2 per lot Rs. 20 per order & Rs. 2 per lot

1,00,000 0.12% 0.012% Rs. 15 Rs. 20 per order & Rs. 2 per lot Rs. 20 per order & Rs. 2 per lot

1,50,000 0.09% 0.009% Rs. 10 Rs. 20 per order & Rs. 2 per lot Rs. 20 per order & Rs. 2 per lot

ICICI Direct Account Charges

Account Opening Charges – up to Rs. 975 depending on scheme

Annual Maintenance Charges –  Rs 700 (1st year free)

ICICIDirect Trading Platforms

Trade Racer Web – A web-based platform with which you can do all the trading and investing activities. The web platform is accessible from any browser.

Trade Racer Desktop – Installable trading platform with features like live streaming quotes & research calls and an integrated fund transfer system.

You would like to read about my favorite Demat accounts – Zerodha Review and Upstox review 

#10. HDFC Security Review

HDFC security limited is a subsidiary of India’s largest private bank HDFC. HDFC securities provide a 3-in-1 account which integrates your saving account, trading account and the demat account.

Account Charges

Account Opening Charges – NIL

Account Annual Maintenance Charges –  Rs 750 ( free for first year)

HDFC Trading Platform

HDFC Pro Terminal – Pro terminal is a web-based trading platform with real time market data and features like market analysis and sentiment analysis. HDFC charges Rs. 1,999 for 12 months for the Pro terminal use.

HDFC Securities Mobile Trading – HDFC mobile platform allows trading in equities and derivatives in just a few clicks using mobile phones.

Benefits

Due to integrated accounts, funds can easily transfer from one account to another. Only helpful for HDFC saving account customers.

Drawbacks

HDFC security doesn’t offer commodity trading.

If you are a new customer to HDFC,  then firstly you have to open a savings account.

Rs. 1,999 charges for using Pro trading terminal

Top 10 Demat Account Brokerage Charges Comparison in India

Demat Account Trading Charges Delivery Charges

Zerodha Rs 20/trade Rs. 0

Upstox Rs 20/trade Rs. 0

Paytm Money Rs 10/trade 1 paisa per order

5Paisa 20/10 per trade depending on the plan 20/10 per trade depending on the plan

Angel Broking Rs 20/trade Rs. 0

IIFL Securities 0.02% to 0.05% 0.01% to 0.60%

Motilal Oswal 0.010% to 0.050% 0.10% to 0.50%

Sharekhan 0.1% on 1st leg and 0.02% on the 2nd leg 0.50%

ICICI Direct 0.025 to 0.055% 0.09% to 0.55%