Best Demat Accounts in India

Compare brokerage charges, platform features, and account opening fees across discount and full-service brokers.

SEBI-registeredUpdated monthly
All BrokersDiscountFull ServiceZero BrokerageBest for BeginnersBest for Trading
BrokerageAMCOpening Fee

Dhan

Discount

₹20/trade₹0FreeDetails →

HDFC Securities

Full-Service

₹20/trade₹0FreeDetails →

ICICI Direct

Full-Service

₹20/trade₹0FreeDetails →

Kotak Securities

Full-Service

₹20/trade₹0FreeDetails →

Motilal Oswal

Full-Service

₹20/trade₹0FreeDetails →

Paytm Money

Discount

₹20/trade₹0FreeDetails →
This Week in Indian Money

What changed. What it means.

Updated weekly
  • News·22 Apr 2026

    Zerodha launches free MF platform for existing demat users

    Direct MF investing zero-brokerage, integrated with Kite. Coin platform users auto-migrated.

  • Policy·19 Apr 2026

    SEBI sandbox for AI-based investment advice

    Robo-advisors can now recommend MFs under new RIA exemption. Groww, Paytm Money first to apply.

    Source: SEBI circular

  • Rate Change·15 Apr 2026

    AMC hikes DP charges — ₹300/yr standard

    Applies to brokers using CDSL. Zerodha, Groww passing ₹100 to users. Discount brokers still cheaper than full-service.

Every Friday, delivered as one email.

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FAQs

What is a demat account?
A demat (dematerialized) account holds your shares and securities in electronic form. You need one to buy stocks, mutual funds, bonds, and ETFs in India.
What is the difference between discount and full-service brokers?
Discount brokers (Zerodha, Groww) charge flat ₹20/trade or zero brokerage. Full-service brokers (ICICI Direct, HDFC Securities) charge percentage-based fees but offer research and advisory.
How much does a demat account cost?
Account opening is free at most brokers. Annual AMC (maintenance charge) ranges from ₹0 to ₹750. Trading charges vary — ₹0 to ₹20 per trade for delivery.
Can I have multiple demat accounts?
Yes. You can have demat accounts with multiple brokers. There is no legal limit. Some investors use different brokers for trading vs long-term investing.
What documents do I need to open a demat account?
PAN card, Aadhaar (for eKYC), bank account details, and a recent photograph. Most brokers offer instant digital account opening.
How does InvestingPro compare demat accounts?
We evaluate brokerage charges, AMC fees, platform features, mobile app quality, research tools, and customer support. No broker pays for higher placement.
SEBI regulatory notice

Regulated by Securities and Exchange Board of India.

Demat accounts and stockbrokers in India are regulated by SEBI and operate via depositories (NSDL / CDSL). Brokerage charges, AMC, and DP fees are broker-determined and may change with notice. Securities held in demat form are subject to market price risk.

Risk note: Investing in equities, derivatives, and securities involves risk of capital loss. Trade only with money you can afford to lose. We are NOT a SEBI-registered research analyst or investment advisor.

InvestingPro is an independent comparison and education platform. We are NOT a SEBI-registered investment advisor, IRDAI-licensed insurance broker, or RBI-licensed lending intermediary. We may earn affiliate commission when you click through to a partner — see how we make money. For personalised advice consult a registered advisor.

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