A Demat account helps traders overcome the lengthy and inconvenient process of trading shares through the paperwork. The word Demat refers to dematerialization. It converts the shares and securities into a digital form so that users can trade them digitally and store them electronically.
If you are planning to open a trading or Demat account in 2022, here is a list of the best Demat accounts in India:
ICICIdirect is one of the best Demat accounts in India. It let its users open a Demat account for free with free AMC as well. You can open a 3-in-1 account with banking, trading account, and Demat accounts, making share market trading highly convenient. Moreover, there are different types of brokerage plans designed to suit the needs of every customer. These include Prime, I-Secure plan, NRI brokerage plan, Neo - Zero Brokerage plan, and Prepaid brokerage plan
The firm also provides a learning experience through Investonomics. Investonomics is a platform imparting knowledge on investment and encouraging people to invest for the long term for maximizing returns. Their knowledge center lets you learn with podcasts, videos, the learning hub, etc. Furthermore, the company provides extensive research reports and market insights, making the use of your trading account more rewarding
The stock brokerage firm charges a flat Rs. 20 per day on intraday shares. The delivery is free as there is zero brokerage. Zerodha is recognized for its customer support. It provides a trading and Demat account with market research data and advanced charts that help you make wise investment decisions.
Through Zerodha Varsity, you receive market education for free. Coin by Zerodha app allows you to trade in mutual funds directly. The only downside is that the firm charges Rs. 200 for account opening.
Another top Demat account in India is Upstox. It offers affordable brokerage charges, advanced technology platforms, and high margins. Orders for F&O, commodities, currencies, and equity are subject to a delivery charge of Rs. 20. You can invest in mutual funds and IPOs at no brokerage. The company offers multiple indicators to help traders monitor markets while on the go.
2. Paytm Money
Paytm Money was launched in 2019. It offers the lowest flat charges of Rs. 10 for intraday trading in equity F&O, equity cash, and currency F&O. Paytm Money Demat account is a good option if you are looking for the lowest brokering charges.
The Demat AMC is Rs. 0. It is an attractive offering compared to a minimum of Rs. 200 charged by other stockbrokers. However, there is an annual fee of Rs. 300 for trading on the platform. The account opening process is paperless, online, and hassle-free. You simply need to download the Paytm Money app from the Apple Store or Google Playstore and complete the KYC process
1. Angel Broking
Established in 1987, Angel Broking is another name in the list of top Demat accounts in India. It gives you proper research tools for making wise investment decisions with your money. Using the platform, you can trade in mutual funds, equities, currencies, commodities, futures and options, and IPOs. There is no need to provide your details in every transaction.
The account opening process is 100% online. In addition to English, it is available in Hindi as well.
There is no one-size-fits-all solution to any problem in the world. Likewise, no single Demat account meets the requirements of all investors. Some traders are beginners, while others are pros. An important parameter to identify the best Indian trading platform is the cost associated with ademat account opening. The cost affects your overall return from the investment. However, a low-cost brokerage plan will not necessarily match your service requirements.