Best Demat Accounts in India – A demat account is a type of an electronic account which is used to hold and manage money in digital or e-format. It is primarily used for trading, buying, holding and selling stocks and funds online.
The sole purpose of a demat account is to facilitate trading and investment in various financial platforms like mutual funds, bonds, stocks, ETFs, IPOs, commodities, government securities, and other financial products. It enables investors to buy, sell and hold securities through the internet from the comfort of their home or office.
There are many financial institutions, banks and stock broker firms where you can open a demat account easily. Here in this post we have listed some of the Best Demat Accounts in India which are known for their fast, secured and reliable services.
Best Demat Accounts in India
Angel One
Angel Broking is one of the trusted demat and trading service which was founded in the year 1987. Its branches are spread in more than 800 cities. Angel Broking gives you wide range of trading options like equities, commodities, mutual funds, IPOs, etc.
The account opening process is done online hassle free. The trading platform is available in both English and Hindi languages. You can get a readymade portfolio which will be managed by experts.
Sharekhan
Sharekhan is also a popular Indian retail brokerage firm which was founded in the year 2000. Sharekhan offers all essential tools in one platform like learning, portfolio management, market analysis, market research, and many more.
It also provides audio video for understanding market forecast and trends. It offers investment and trading options in mutual funds, bonds, stocks, ETFs, IPOs, Forex, option trading, and others.
Sharekhan is spread over in more than 550 cities with more than 1500 offices. In terms of Top 10 Demat Accounts in India ratings, I would like to give 4.1 out of 5 to this platform.
Religare
Religare is an Indian investment and financial services providing company which was founded in the year 1984. It has more than 450 branches in different cities. Religare also offers market news and research/analysis tools.
The company offers trading options in mutual funds, equities, commodities, IPOs, currencies, and many more. In the financial services field, Religare also deals with loans, health insurance, housing finance and retail broking.
Zerodha
Zerodha was founded in the year 2010 and is India’s leading stock broking service provider. It has cheapest brokerage rates in trading and demat account. It offers trading in mutual funds, commodities, option trading, equity trading, derivatives, stocks, bonds, govt securities, IPOs, currency trading, and many more.
Zerodha also has market research data and advanced charts to help you while trading. Zerodha would be one of the Best Demat Accounts in India for beginners.
Motilal Oswal
Motilal Oswal provides wide range of financial services and products. The company was founded in the year 1987 in Mumbai. It’s a popular trading platform for traders and investors with more than 20+ years of experience.
They are popular for accurate market analysis and reports. Motilal Oswal offers wide range of financial investment and trading options like equity, currency, commodities, mutual funds, bonds, corporate fixed deposits, IPO, and others.
HDFC Securities
It’s a financial services intermediary and a subsidiary of HDFC bank. HDFC Securities was founded in the year 2000 with its headquarters in Mumbai. HDFC Securities deals with products like mutual funds, equities, SIPs, IPOs, derivatives, ETFs, bonds, and many more. The investor can invest and trade in Indian as well as global stocks market.
ICICI Direct
ICICI Direct is also a famous name in the trading and investment field. It’s amongst India’s largest retail broker and financial product distributor. ICICI also comes in the list of Top Demat Accounts in India.
It offers trading options for products like mutual funds, equity, derivatives, ETF, insurance, IPOs, corporate fixed deposits, NPS, currency, commodity, and more. You can get a 3-in-1 account option i.e. demat, banking and trading account.
Kotak Securities
It’s one of the India’s oldest stock broking company which deals with services like debt, equity, mutual funds, commodities, currency, and other financial services. Kotak Securities is also in the list of Best Demat Accounts in India.
Kotak Securities is a part of Kotak Mahindra Group which is one of India’s leading financial services conglomerates. It provides facility of one account linking to three options i.e. trading, savings and demat.
IIFL Securities
IIFL is an Indian diversified financial services company with its headquarters in Mumbai, India. IIFL demat account is popular in the market for more than 20 years. You can trade and invest in mutual funds, IPOs, currencies, equities, commodities, NSE and BSE top companies, and many more.
The company also provides in-depth market research and portfolio management services based on your risk appetite. It’s a seamless trading platform which flawlessly integrates with your trading and bank account to give you best trading experience.
5paisa
5paisa is best and suitable for beginners. 5paisa is popular for its features, trading options, research tools, learning and portfolio analysis tools. Anyone can open a demat account at 5paisa easily.
Only few documents are required to open a demat account like PAN card, address proof like aadhaar, bank details proof, income proof and signature. 5paisa offers trading in mutual funds, commodities, gold, US stocks, stock SIP, ETF, IPO, and many more.
How to open a Demat Account Tips?
1. Contact a depository – For opening a demat account; you have to get in touch with a depository participant who can be either a broker or any bank. When you open the account, the shares would be kept with the depository safely. These institutions are government sponsored ones that are safe enough to deal with.
2. Submit documents – Following this, you have to submit KYC documents that would be required in filling up the form of the demat account. After filling in all the details of the form, the depository would ask for photographs and photocopy of some important documents including PAN Card, address proof, bank details, and others.
3. Rules and regulations – The KYC form should be signed by the depository, and the details of the rules and regulations would be stated in the form.
4. Keep a backup of documents – You should get a printed form or photocopy of the same that would be required for any future use.
5. Document verification – After this, the depository would ask for in-person verification of the form. In this case, you have to visit the office, or a concerned representative would visit your place. The verification can also be done by online mode with the help of a webcam.
6. Beneficiary ID – Once the documents are submitted, and it has been verified by higher authorities, beneficiary ID would be given by the depositary. This ID would become the unique code of the shareholder that would be used for any kind of buying or selling in the stock exchange market.
7. Produce documents – You should also be careful about the fact that all the necessary documents are attested, and the original ones need to be produced in case it is requested by the authority for final verification before you can start with the transaction via the demat account.
