Investing · 17 Jun 2026
How to Read Your Broker Contract Note in India 2026
Your contract note is the legal record of every trade you execute. Here is how to read it field by field, decode the charges, and use it for ITR and disputes.
Best Demat Accounts in India · June 2026
Compare brokerage charges, platform features, and account opening fees across discount and full-service brokers.
SEBI-registeredUpdated monthly
Full catalogue
Browse the full broker catalogue
Discount, full-service, bank-led, neobrokers. SEBI-registered only. Filter by AMC, brokerage, asset coverage.
Our top picks
The best demat accounts, ranked
Ranked by our methodology — what each broker is best for, and the real charges. No paid placements.
Compare top-rated
Compare the best demat accounts
Top-rated brokers side by side — score, annual maintenance, delivery brokerage and who each is best for. Ranked by our methodology, not what pays us most.
| Broker | Score | AMC | Delivery brokerage | Best for | Open |
|---|---|---|---|---|---|
| Zerodha | 96 | ₹300 | Zero (Free) | best-overall | Open → |
| Groww | 94 | ₹0 | Zero (Free) | beginners | Open → |
| Dhan | 90 | ₹0 | Zero (Free) | options-trading | Open → |
| Upstox | 90 | ₹0 | Zero (Free) | value-pick | Open → |
| Angel One | 88 | ₹240 | Zero (Free) | research-trading | Open → |
| ICICI Direct | 86 | ₹0 | Rs 20 or 0.55% | bank-integration | Open → |
| Fyers | 86 | ₹0 | Zero (Free) | algo-trading | Open → |
| HDFC Securities | 84 | ₹0 | Rs 20 or 0.50% | hdfc-customers | Open → |
This Week in Indian Money
What changed. What it means.
News·22 Apr 2026Zerodha launches free MF platform for existing demat users
Direct MF investing zero-brokerage, integrated with Kite. Coin platform users auto-migrated.
Policy·19 Apr 2026SEBI 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 2026AMC 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.
Get the weekly →Editorial — read first
In-depth broker reviews
Discount
Discount
Zerodha Review
best-overall
4.8 / 5
Discount
Discount
Groww Review
beginners
4.7 / 5
Discount
Discount
Dhan Review
options-trading
4.5 / 5
Discount
Discount
Upstox Review
value-pick
4.5 / 5
Discount
Discount
Angel One Review
research-trading
4.4 / 5
Full-Service
Full-Service
ICICI Direct Review
bank-integration
4.3 / 5
Discount
Discount
Fyers Review
algo-trading
4.3 / 5
Full-Service
Full-Service
HDFC Securities Review
hdfc-customers
4.2 / 5
Editorial
The latest in investing
Investing · 17 Jun 2026
Securities Transaction Tax (STT) Rates India 2026
STT is a small tax on every taxable trade on an Indian exchange, collected by your broker. Here is the full 2026 rate table by segment, the Budget 2026 F&O hike, and how STT differs from brokerage and other charges.
Investing · 17 Jun 2026
T+1 and T+0 Settlement Cycle in India Explained
India completed its move to T+1 settlement in January 2023, and SEBI launched an optional T+0 same-day beta in March 2024. Here is exactly how each cycle works and what it means for your trades.
Investing · 17 Jun 2026
Convert Physical Shares to Demat: DRF Process 2026
SEBI barred transfer of listed shares in physical form from 1 April 2019. Here is the exact DRF process to convert your old paper certificates into demat in 2026.
Investing · 17 Jun 2026
Trading Account vs Demat Account: Difference (2026)
A trading account places your buy/sell orders on NSE/BSE; a demat account stores the shares electronically with CDSL or NSDL. Here is exactly how they differ and work together.
Investing · 16 Jun 2026
RBI Doubles NRI & OCI Stock Investment Limit to 10% (June 2026): What Changed
On 5 June 2026, RBI doubled the single-investor cap for an NRI or OCI in a listed Indian company from 5% to 10%, raised the combined cap to 24%, and extended the route to individual foreign nationals — without separate SEBI/FPI registration. Here is what it means.
Investing · 16 Jun 2026
SEBI's 50:50 F&O Margin Rule (2026): Why Half Your Margin Must Be Cash
From 1 April 2026, SEBI requires at least 50% of your F&O margin to be backed by cash or cash-equivalents — pledged shares alone can no longer fund a derivatives position. Here is what counts as cash, what it costs if you fall short, and how to stay compliant.
Investing · 4 Jun 2026
Client Master Report (CMR) 2026: What It Is, What's In It & How to Download Yours
Sooner or later someone — a new broker, a registrar, a family member settling an estate — will ask you for your Client Master Report. It is a free, digitally-signed PDF that proves your demat account details. Here is exactly what it contains, when you need it, and how to download it in minutes.
Investing · 4 Jun 2026
Margin Trading Facility (MTF) Explained 2026: Buy Stocks With Less Cash — and the Interest Trap
MTF lets you buy ₹1 lakh of stock with about ₹25,000 of your own money — the broker funds the rest, and you carry the position for as long as you like. The catch is daily interest of 9-18% a year on the borrowed amount and leverage that magnifies losses. Here is exactly how it works, what it costs, and who should avoid it.
Before you open an account
Decision guides — SEBI mechanics nobody else explains
Concept
NSDL vs CDSL — which depository, why it matters
DP-charge differences, broker-to-depository mapping, CMR extraction, off-market transfer mechanics.
Read guide →
Save AMC
BSDA — ₹0 AMC for portfolios under ₹4L
Post-Sept-2024 rules + broker-by-broker BSDA support + family-split strategy to stay in free tier.
Read guide →
Safety
DDPI vs POA — SEBI Sept 2022 mandate
Karvy-scandal-driven reform. Most accounts pre-2022 still on old POA. Migration playbook included.
Read guide →
True cost
Real-cost brokerage — 8-charge breakdown
₹1L Reliance round-trip = ₹241 at Zerodha vs ₹1,539 at ICICI Direct. STT + GST + DP + stamp decoded.
Read guide →
Compare
3-in-1 account vs discount broker
ICICI Direct ₹43K vs Zerodha ₹900 over 3 years. The 4 user profiles where 3-in-1 actually wins.
Read guide →
Tax
STT + LTCG + STCG post-Budget-2024
STCG 20%, LTCG 12.5%, ₹1.25L exemption. Pre/post-July-23-2024 dual regime + harvesting strategy.
Read guide →
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.