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5 Best Demat Accounts for 2024: Which Ones to Go For?

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What are the 5 Best Demat Accounts for 2024?


A Demat account, short for “Dematerialized Account,” is a crucial tool for modern-day investors in the stock market. It provides a secure and electronic way to hold and trade securities such as stocks, mutual funds, bonds, and more. As we approach 2024, choosing the right Demat account becomes even more critical for investors looking to navigate the ever-evolving financial landscape. Know about the 5 best Demat accounts for the year 2024, each offering unique features and advantages to cater to various investor needs.

Know about Top Demat Account Brokers in India, or continue reading…

What are the 5 Best Demat Accounts for 2024?

Here are the 5 best Demat account providers that you can consider opening up accounts with, in the year 2024.

1. Zerodha Demat Account

Zerodha, often hailed as India’s pioneering and most successful discount broker, has earned the reputation of being the best stock broker in the country. Founded by Nithin Kamath in 2010, it has surged to prominence among the top share brokers in India. Zerodha boasts the largest customer base in the industry, a testament to its product quality, solidifying its position as the best stock broker.

One standout feature of Zerodha Demat account is its fee structure, offering free equity delivery trading since December 2015. With a mere Rs. 20 per order for equity intraday and commodity trading, Zerodha maintains an attractive cost structure. Demat AMC charges stand at Rs. 300 per annum while trading AMC charges are free.

Zerodha offers three distinct trading platforms: Kite 3.0, a web-based platform with advanced tools; Kite 3.0 Mini, a mobile app for traders on the move; and Zerodha Pi, a desktop platform for advanced traders with features like backtesting.

The pros of opening a Zerodha demat account include Zerodha’s status as India’s largest stockbroker, a vast customer base exceeding 6 million, and zero brokerage on delivery trades. However, it charges Rs. 50 per trade for calls and trades, lacks a 3-in-1 account offering, and has a relatively slower account opening process. Despite its cons, Zerodha remains a frontrunner in India’s brokerage landscape.

Open an account with Zerodha.

2. Upstox Demat Account

Upstox, formerly known as RKSV, is a prominent discount brokerage firm headquartered in Mumbai, India. Founded in 2011 by Raghu Kumar, Ravi Kumar, and Shrinivas Vishwanath, it has rapidly established itself as one of the top stockbrokers in India, offering a wide range of retail products and services in the stock market.

The strength of Upstox Demat account lies in its cost-effective approach, providing trading services across various categories like equities, currencies, and futures. The platform is renowned for its user-friendly design, ensuring a seamless and hassle-free trading experience for its customers.

Notably, Upstox Demat account offers free equity delivery trading, with a minimal charge of Rs. 20 for equity intraday and commodity options trading. The annual maintenance charge for Demat accounts is Rs. 150, while trading AMC is free. Opening a trading account with Upstox comes at no cost, making it an attractive choice among India’s top stockbrokers.

Upstox offers multiple trading platforms, including Upstox Pro Web (web-based), Upstox NEST Trader (desktop-based), and Upstox Pro Mobile (mobile app), catering to traders of all levels with advanced charting tools and real-time market data.

The advantages of Upstox Demat account include zero brokerage on delivery trades, and the backing of influential investors like Mr. Ratan Tata. It also has the reputation of being one of the pioneers of discount brokerage in India. However, it has charges for call and trade, limitations on Good Till Cancelled (GTC) orders in the delivery segment, and the absence of a 3-in-1 account option, along with a potentially slow account opening process.

Open an account with Upstox.

3. 5Paisa

5Paisa, a prominent discount broker in India, has rapidly risen to become one of the best stock brokers in the country since its establishment in 2016 by Prakash Gagdani. Its popularity can be attributed to its low brokerage charges and commitment to quality service, attracting over 30 lakh customers. Although 5Paisa operates primarily from Mumbai without global branches, it has managed to excel in the Indian market.

The brokerage charges are highly competitive, with equity delivery trading being offered for free, equity intraday trading costing Rs. 20 per order, and commodity options trading also charging Rs. 20 per order. Additionally, they have a minimum brokerage charge of Rs. 10 for smart trade. Demat AMC charges amount to Rs. 400 per annum, while trading AMC charges are free. These competitive rates have played a significant role in 5Paisa’s success as the best stock broker in India.

5Paisa offers a variety of trading platforms, including a web-based platform called Trader Station Web, a desktop-based platform known as Trade Station EXE, and a mobile trading app available on both iOS and Android devices. These platforms provide real-time market data, advanced charting, and analysis tools, enhancing the trading experience for users.

However, 5Paisa Demat account does have some drawbacks, including the absence of fixed monthly brokerage plans, primarily robotic suggestions, average customer service, and the lack of a 3-in-1 account option.

4. HDFC Securities

HDFC Securities, a subsidiary of HDFC Bank, stands out as one of India’s premier stock brokers, offering a wide range of online trading services accessible via mobile phones. Established in 2000, this public sector full-service broker has made a mark in the industry. One of its distinctive features is the 3-in-one account, which combines trading, Demat, and bank accounts into a single platform.

With a strong brand value derived from HDFC Bank, HDFC Securities enjoys the trust and reliance of customers, securing its position as one of the best stock brokers in India. They provide various stock market services such as Day trading, Cash-n-Carry, and online IPO investments.

While HDFC Securities Demat account offers a comprehensive range of investment options, including stocks, mutual funds, and bonds, it is worth noting that their brokerage charges are relatively higher compared to some competitors. Additionally, Demat account opening costs can be on the higher side, limiting trading in penny stocks. Nevertheless, HDFC Securities remains a successful and trusted choice for those seeking a reliable stock brokerage service in India.

5. Kotak Securities

Kotak Securities, a renowned brokerage firm in India, stands out for its unconventional approach to stock broking services and products. Established in 1994, the company has rapidly gained prominence and now boasts an extensive network of 1200 branches and a customer base exceeding six lakhs. Its commitment to innovation and technology is evident in its introduction of a mobile tracking app for trading investments, earning the company the recognition as one of the best stock brokers in India.

The firm’s Mobile Stock Trading App allows customers to effortlessly monitor their investments, and it has implemented SMS alert services for timely reminders. Kotak Securities Demat account offers a wide range of services, contributing to its status as a leading stock broker.

In terms of charges and fees, it has competitive rates for Equity Delivery and Intraday Trading, along with a 3-in-1 Demat account for seamless fund transfers. While it provides robust support for traders with connectivity issues, some drawbacks include higher brokerage fees compared to other full-service brokers and elevated account opening fees.

Check our post on Kotak Securities Charges: Brokerage, AMC, Demat Account and more.


Selecting the best Demat account in 2024 is a crucial step for anyone looking to venture into the world of investments. The best choice for you will depend on your specific needs, preferences, and trading style. Whether you prioritize low brokerage fees, advanced research tools, or seamless integration with banking services, there is a Demat account out there to suit your requirements. Make sure to conduct thorough research, consider your financial goals, and consult with experts if needed before finalizing your decision. With the right Demat account, you can embark on your investment journey with confidence in 2024.

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