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Looking for Best Demat and Trading Account in India? Here is a complete information about Best Demat and Trading Accounts in India along with features and review. Select the best trading platform as per your need. Prior to starting an actual topic let’s understand the basic concepts like the difference between full service, discount broker, demat account and trading account.
Types of Stock Brokers
A stock broker is an organization registered as member of stock exchange and authorized by exchange to participate in the securities market in place of its clients. Stock brokers can buy and sell stocks in the stock market on behalf of their client and charge a commission for the services.
There are two types of stock brokers in India –
- Full service brokers (Traditional Stock Broker)
- Discount brokers (Budget brokers)
Full Service Broker
A Full-service broker means a broker that provides investment advice and related services to customers in addition to facilitating transactions. ICICI Bank, Axis Direct, and Kotak are examples of Full-service broker.
Discount broker is a stock broker that carries only buy and sell activity at discounted commission rate. They are not involved in any investment advice. They works on DIY (Do it yourself concept). Few example of discount broker are Zerodha, ProStocks, RKSV etc. Discount broker provide high speed platform for trading.
A Trading account is an account used for doing a transaction on the stock exchange. If you want to buy or sell stocks on exchange you should have a trading account. Once you purchase the stock you need to store it. The place where you store shares in Dematerialized format or electronic format is known as a Demat account.
Important Points for the selection of Best Demat and Trading Accounts
The first point for the selection of Best Demat and Trading Account is fees. One should check brokerage charges, AMC charges, and other charges before opening a demat account. Several brokerage firms impose additional charges such as advisory option, future trading fees etc.
Another important factor you should consider before opening demat trading account is brokerage charges. Brokerage charges are charges applicable on the trade. Select a demat and trading account based on your requirement.
Technology and trading platform is another important point. A brokerage firm should offer the decent platform with simple interface. Ease of doing transaction and quality information and research provided by brokerage house is another important point of consideration.
Another point for consideration is customer service and support. The company should be capable for providing good customer service to the customer.
Now let us have a look at some of the Best Demat and Trading Accounts in India.
Best Demat and Trading Accounts in India 2018
Zerodha is Best Discount Broker in India. Zerodha was first to introduce discount broking in India. Zerodha works on flat fee which is not based on the size of the trade. This means that whether you trade with Rs.5000 or with 10 Lakh you need to pay same brokerage charges. You can trade on BSE, NSE, Forex Trading, MCDEX and mutual fund using Zerodha.
You can open a Trading account at Zerodha Instantly using Aadhaar card. Zerodha uses the latest technology and provides a rich trading platform to the customer. The features offered by Zerodha is given below.
- Zerodha charges a flat fee of Rs.20 per transaction. So, you will be able to save a lot of money by using Zerodha as a trading platform.
- Annual Maintenance charges (AMC) for a demat account is Rs.300 per year.
- Demat account opening charge is Rs.100. You can open an online demat account with Aadhaar card.
- Rich trading platform with the dashboard. Android and IOS app for trading on the move.
Zerodha Brokerage is a flat fee structure with charges of Rs.20 per trade. Stock Delivery is charged free of cost.
Open Zerodha Demat Account here.
Upstox is second in the list of Best Demat and Trading Accounts. Upstox was previously known as RKSV. Upstox provides lowest broking trading and investment services. Upstox provides powerful analysis and investment platform. The features offered by Upstox are given below.
- No brokerage cost for equity delivery trades using Upstox.
- Free trading software including mobile and web trading application.
- You can also invest in mutual funds using Upstox.
- Upstox charges a flat fee of Rs.20 per transaction for Intraday and future brokerage.
- Demat account opening fees and AMC fees of Upstox is Rs.150.
Upstox charges flat fee of Rs.10 per order
Open Upstox Demat Account here.
5 Paisa is premium discount broker. 5 Paisa also works on flat fee concept. 5 Paisa allows you to make investment in stock market with zero brokerage charges. You can also invest in mutual funds and buy insurance using 5 Paisa. The features offered by 5 Paisa are given below.
- Flat fee concept with zero brokerage charges
- Robo Advisory Facility
- Additional facility to purchase Mutual Funds, ETF and Insurance
- Free trading platform including mobile app, website and desktop trading terminal
- Offers free technical, derivative and fundamental research & advice to customers
5 Paisa Charges
5 Paisa charges flat fee of Rs.10 per order
ICICI Direct is full service broker. ICICI direct offers 3-in-1 trading, demat and bank account. ICICI direct is a trusted choice for retail investors. The features offered by ICICI Direct are given below.
- 3-in-1 Online Trading platform
- Offers wide range of products margin based and future option for trading
- Portfolio Tracker and SMS alert facility
- Flat and variable brokerage plans
- Buy and Sell Limit based trading
- Trading is available in both BSE and NSE
- Low-bandwidth website for slow internet connection
ICICI Direct Account Charges
- One Time Account Opening Charges -Rs. 975
- Demat Annual Maintenance Charges – Rs. 500
- Brokerage charges varies based on plan selection.
Have you opened a Demat or Trading account with any of the company listed above? Do share your views in the comment section.