Choosing the best Demat account in India is not simply about finding the broker with the lowest brokerage.

The right account depends on how you plan to use it. A beginner investing occasionally may value a simple interface and low maintenance costs, while an active trader may care more about charting tools, order execution, derivatives access, and platform reliability.

This guide compares four widely used brokers—Zerodha, Groww, Angel One, and ICICI Direct—to help you understand their charges, platforms, features, and suitability.

Disclaimer: This article is for educational and informational purposes only. It does not constitute investment, financial, trading, or broker recommendations. Brokerage plans and charges can change. Always verify the latest pricing, terms, and regulatory information directly with the broker before opening or using an account.

Quick Answer: Which Is the Best Demat Account in India?

There is no single Demat account that is best for every investor.

Zerodha may appeal to investors and active traders who want ₹0 brokerage on equity delivery along with established trading tools such as Kite.

Groww may suit beginners who prioritize a simple interface, ₹0 account maintenance charges, and access to stocks and other investment products through one platform.

Angel One may suit users looking for trading tools, research features, SmartAPI access, and a flat/percentage-based brokerage structure capped at ₹20 per executed order.

ICICI Direct may appeal to investors who value an integrated banking, Demat, and trading ecosystem, although its costs depend significantly on the brokerage plan selected.

The better choice depends on your trading frequency, investment style, required features, account-maintenance costs, and the products you intend to use.

Zerodha vs Groww vs Angel One vs ICICI Direct

Feature	Zerodha	Groww	Angel One	ICICI Direct
Account opening	Check current plan	₹0	₹0	Depends on offer/account
Equity delivery brokerage	₹0	Lower of ₹20 or 0.1%; minimum ₹5	Lower of ₹20 or 0.1%; minimum ₹5	Depends on selected plan
Equity intraday	Lower of ₹20 or 0.03%	Lower of ₹20 or 0.1%; minimum ₹5	Lower of ₹20 or 0.1%; minimum ₹5	Depends on selected plan
F&O brokerage	Futures: lower of ₹20 or 0.03%; options: ₹20/order	₹20/order	₹20/order	Depends on plan
AMC	Applicable depending on account	₹0	First year ₹0; subsequent charges depend on BSDA status	Depends on account/plan
Main appeal	Trading platform + low-cost delivery investing	Simplicity	Trading tools + research/API	Banking integration

The comparison above focuses on major headline charges. GST, STT, exchange transaction charges, SEBI charges, stamp duty, DP charges, and other applicable costs may be charged separately.

Zerodha currently lists zero brokerage for equity delivery, while Groww and Angel One currently charge the lower of ₹20 or 0.1% per executed equity order, subject to a ₹5 minimum.

What Is a Demat Account?

A Demat account is an electronic account used to hold securities in dematerialized form.

Instead of receiving physical share certificates, securities such as shares are maintained electronically.

In India, the two main depositories are:

• National Securities Depository Limited (NSDL)
• Central Depository Services (India) Limited (CDSL)

Investors generally access the depository system through a Depository Participant, or DP.

Your broker may also operate as a Depository Participant.

Demat Account vs Trading Account

Beginners often use the terms Demat account and trading account interchangeably, but they perform different functions.

Feature	Demat Account	Trading Account
Primary purpose	Holds eligible securities electronically	Used to place buy and sell orders
Main function	Storage/ownership records	Transaction execution
Used for investing?	Yes	Yes
Used for intraday trading?	Shares do not need to remain in Demat for an intraday round trip	Yes
Connection	Linked with trading/bank setup	Usually linked with Demat and bank account

A simple way to understand the difference is:

Trading account = transaction interface

Demat account = electronic holding account

For delivery-based stock investing, the two generally work together.

1. Zerodha

Zerodha official website

Zerodha is a discount broker used by both investors and active traders.

One of its major attractions for long-term equity investors is zero brokerage on equity delivery.

Zerodha Brokerage and Charges

At the time of this update:

• Equity delivery: ₹0 brokerage
• Equity intraday: ₹20 or 0.03% per executed order, whichever is lower
• Equity futures: ₹20 or 0.03% per executed order, whichever is lower
• Equity options: flat ₹20 per executed order
• Direct mutual funds: zero commission through Coin

These are brokerage charges; taxes and other statutory or transaction charges can still apply.

Zerodha Platforms and Features

Kite: Zerodha’s main web and mobile trading platform.

Coin: Used for direct mutual fund investments.

Console: Provides reports and portfolio-related information.

Zerodha also provides tools and features such as GTT orders and other trading utilities.

Who May Prefer Zerodha?

Zerodha may be worth considering if you:

• Invest in equity delivery and value ₹0 brokerage
• Actively trade stocks or derivatives
• Want a feature-rich trading platform
• Prefer a discount-broker model
• Want access to direct mutual funds through the same ecosystem

The lowest brokerage alone should not determine your choice. Platform suitability, support, DP charges, maintenance costs, and the products you actually use should also be considered.

2. Groww

Groww official website

Groww is particularly popular among investors who prefer a relatively straightforward digital investing experience.

Its platform provides access to products including stocks, mutual funds, ETFs, IPOs, and derivatives.

Groww Brokerage and Charges

Groww currently lists:

• Trading and Demat account opening: ₹0
• Account maintenance charges: ₹0
• Equity brokerage: lower of ₹20 or 0.1% per executed order
• Minimum equity brokerage: ₹5
• F&O: ₹20 per order

Additional statutory, regulatory and transaction-related charges can apply.

Groww DP Charges

DP charges become relevant when delivery shares are sold.

Groww’s current pricing page lists depository and Groww components for applicable delivery sell transactions, with specific rules for small debit values. Because DP pricing can change, investors should check the current schedule rather than comparing brokers only on advertised brokerage.

Who May Prefer Groww?

Groww may appeal to:

• First-time investors
• Users who prioritize a simple interface
• Investors who want ₹0 AMC
• Users who want stocks and mutual funds accessible through one ecosystem
• Investors who don’t need highly complex trading workflows

Groww’s simplicity can be an advantage for beginners, but active traders should compare its tools and workflows with alternatives before deciding.

3. Angel One

Angel One official website

Angel One combines discount-style brokerage with research, investing, trading, and technology features.

Angel One Brokerage and Charges

Angel One currently lists:

• Equity delivery: lower of ₹20 or 0.1% per executed order, subject to ₹5 minimum brokerage
• Equity intraday: lower of ₹20 or 0.1% per executed order, subject to ₹5 minimum brokerage
• Futures and options: ₹20 per executed order

Angel One revised its delivery and intraday pricing effective November 17, 2025, so older comparisons showing different charges may now be outdated.

Angel One AMC

Account maintenance is free for the first year.

From the second year, the current schedule differentiates between BSDA and non-BSDA clients.

For eligible BSDA clients, holdings up to ₹4 lakh currently have nil AMC, while holdings between ₹4 lakh and ₹10 lakh attract ₹100 + GST annually. Non-BSDA clients are currently charged ₹60 + GST per quarter after the first trade in that quarter.

Angel One DP Charges

For equity delivery sells, Angel One currently lists DP charges of ₹20 + GST per ISIN per transaction. DP charges do not apply to equity buys, intraday transactions, or F&O transactions.

Angel One Features

Depending on the product and account, features can include:

• Web and mobile trading
• Charts and technical-analysis tools
• SmartAPI
• Research tools
• GTT and basket-order functionality
• Margin Trading Facility

Who May Prefer Angel One?

Angel One may be worth comparing if you:

• Actively trade
• Want research integrated with your brokerage platform
• Need API capabilities
• Use technical-analysis tools
• Want access to both investing and trading products

4. ICICI Direct

ICICI Direct official website

ICICI Direct differs from many discount brokers because one of its major strengths is integration with the wider ICICI banking ecosystem.

Its 3-in-1 setup can connect banking, trading, and Demat functions, which can be convenient for existing ICICI Bank customers.

ICICI Direct Brokerage

ICICI Direct has multiple brokerage plans, so quoting one brokerage number for every customer can be misleading.

Depending on the selected plan, pricing may differ for:

• Equity delivery
• Intraday
• Futures
• Options
• Margin products
• Demat maintenance

For that reason, compare the plan you would actually use rather than comparing an ICICI Direct promotional rate with another broker’s standard rate.

ICICI Direct Features

Depending on the plan and account, ICICI Direct offers features such as:

• Integrated banking, Demat, and trading
• Equity investing
• Derivatives
• IPO access
• Research
• Portfolio services
• Margin products
• Multiple trading platforms

Who May Prefer ICICI Direct?

ICICI Direct may be attractive for:

• Existing ICICI Bank customers
• Investors who value banking integration
• Investors who prefer a full-service ecosystem
• Users who want research and multiple investment products
• People willing to evaluate different brokerage plans rather than selecting purely on the lowest headline fee

Which Demat Account Is Best for Beginners?

For beginners, simplicity and understanding costs may be more important than having the largest number of advanced trading features.

A beginner should consider:

• Ease of account opening
• Platform usability
• Brokerage
• AMC
• DP charges
• Customer support
• Availability of educational material
• Clear reporting
• Security features
• Products available

Groww may appeal to users prioritizing simplicity and ₹0 AMC.

Zerodha may appeal to beginners who also expect to learn more advanced trading tools over time.

Angel One may appeal to beginners interested in integrated research and trading features.

ICICI Direct may be more attractive to someone who prioritizes banking integration.

There is no need to open an account with a broker simply because it is popular.

Which Demat Account Is Better for Long-Term Investors?

A long-term investor should pay particular attention to costs that apply to holding and eventually selling investments.

Important factors include:

Delivery brokerage: How much does buying or selling delivery-based equity cost?

AMC: What does maintaining the Demat account cost each year?

DP charges: What is charged when shares are debited from the Demat account?

Investment products: Does the platform provide the products you intend to use?

Reporting: Can you easily access holdings, transaction statements, tax reports, and other records?

For example, Zerodha’s ₹0 equity-delivery brokerage can be attractive for delivery investors, while Groww’s ₹0 AMC may appeal to users focused on avoiding account-maintenance charges.

But brokerage should not be evaluated in isolation.

Which Demat Account Is Better for Intraday Traders?

Intraday traders usually have different requirements from long-term investors.

They may care more about:

• Platform reliability
• Order execution
• Charting
• Market depth
• Brokerage per order
• Order types
• Risk-management tools
• API availability
• Derivatives access
• Reporting
• Customer support

For a high-frequency trader, even relatively small differences in per-order costs can accumulate.

However, choosing the cheapest broker is not automatically the best decision if the platform does not provide the functionality required by your trading process.

Brokerage vs AMC vs DP Charges: Understand the Difference

One reason beginners struggle to compare Demat accounts is that several different charges can apply.

Brokerage

Brokerage is the fee the broker charges for executing eligible trades.

It may be:

• Zero
• Percentage based
• Flat per order
• Capped at a maximum amount

Account Maintenance Charge

AMC is a fee associated with maintaining the account.

Some brokers advertise zero AMC, while others charge annually or quarterly depending on the account type.

DP Charges

DP charges can apply when securities are debited from your Demat account, such as when you sell delivery shares.

This is why “zero brokerage” does not necessarily mean every transaction is completely free.

Statutory and Regulatory Charges

Depending on the transaction, other charges can include:

• Securities Transaction Tax (STT)
• GST
• Stamp duty
• Exchange transaction charges
• SEBI turnover charges

These should be considered when calculating the actual cost of trading.

What Is a BSDA?

BSDA stands for Basic Services Demat Account.

It is intended to provide eligible smaller investors with lower Demat maintenance costs subject to applicable conditions and holding-value limits.

BSDA eligibility and charges should be verified with the broker/depository because applicable rules and thresholds can change.

For example, Angel One currently states that eligible BSDA clients with holdings up to ₹4 lakh pay nil AMC, while the ₹4 lakh–₹10 lakh band attracts an annual charge.

How to Choose the Best Demat Account for Your Needs

Instead of asking only, “Which is the best Demat account in India?”, ask which account best matches how you intend to invest or trade.

Use the following framework.

1. Identify Your Main Purpose

Are you primarily interested in:

• Long-term investing?
• Mutual funds?
• Intraday trading?
• Futures and options?
• IPOs?
• ETFs?
• A combination of investing and trading?

Your answer immediately changes which broker features matter most.

2. Estimate Your Trading Frequency

Someone placing two delivery orders per month has very different requirements from someone executing several intraday orders each day.

Calculate costs based on your expected activity instead of relying on the phrase “low brokerage.”

3. Compare Total Costs

Review:

• Account-opening fee
• Brokerage
• AMC
• DP charges
• Call-and-trade charges
• Auto square-off charges
• MTF interest, if applicable
• Pledge charges
• Other platform/account charges

4. Test the Platform

A platform should be understandable and suitable for your workflow.

Active traders may care about charts and execution tools, while long-term investors may prioritize portfolio reporting and simplicity.

5. Check Customer Support

Support becomes particularly important when you face:

• Account-access problems
• Fund-transfer issues
• Order-related questions
• Demat issues
• KYC problems
• Corporate-action questions

6. Review Security Features

Look for appropriate account-security features such as two-factor authentication and secure account recovery.

Never share passwords, PINs, OTPs, or authentication credentials with anyone.

Is It Safe to Open a Demat Account Online?

Opening a Demat account online through a properly regulated intermediary is a standard process in India.

However, investors should independently verify the broker’s regulatory and depository details.

Before opening an account:

• Verify the broker’s SEBI registration information
• Confirm exchange memberships
• Check whether the DP relationship is with CDSL or NSDL
• Use the broker’s official website or app
• Read the official tariff sheet
• Review account-opening documents
• Enable available security protections
• Never share OTPs or passwords

Also remember that regulation does not eliminate investment risk.

A regulated brokerage account does not mean the securities purchased through it are guaranteed to increase in value.

Can You Have More Than One Demat Account?

Yes, an investor can generally maintain more than one Demat account, subject to applicable KYC and account requirements.

For example, someone might use one broker for long-term investing and another for active trading.

However, maintaining multiple accounts can also create additional complexity.

You may have to track:

• Different charges
• Holdings across accounts
• Tax reports
• Login credentials
• Nomination information
• Statements

Beginners often benefit from keeping their setup simple until they have a genuine reason to use multiple brokers.

Common Mistakes When Choosing a Demat Account

Choosing Only on Zero Brokerage

Zero brokerage is attractive, but it doesn’t tell you about AMC, DP charges, platform suitability, or other costs.

Ignoring DP Charges

Delivery investors often focus on buying costs and overlook charges associated with selling securities from the Demat account.

Selecting a Platform Because an Influencer Uses It

A broker that works well for someone else’s trading style may not suit yours.

Opening Too Many Accounts

More accounts can mean more statements, charges, passwords, and administrative work.

Ignoring the Tariff Sheet

Promotional pages highlight attractive pricing. The official tariff and pricing schedule provides the details you actually need to understand.

Choosing Advanced Features You Don’t Need

A beginner making long-term investments may not need sophisticated APIs or advanced derivatives tools.

Choose based on your requirements rather than the longest feature list.

How to Open a Demat Account in India

The exact process differs between brokers, but online account opening generally involves several stages.

Step 1: Choose a broker

Compare pricing, platform features, support, and regulatory information.

Step 2: Complete registration

Provide the required contact and identity information.

Step 3: Complete KYC

The broker will request applicable KYC information and documentation.

Step 4: Link your bank account

A bank account is required for transferring funds and receiving eligible withdrawals.

Step 5: Complete verification

Follow the broker’s identity and verification process.

Step 6: Review agreements

Read the account-opening forms, tariff sheet, rights and obligations, policies, and other disclosures.

Step 7: Activate required segments

Do not activate complex trading segments merely because they are available. Futures, options, leverage, and margin products involve additional risk and may require additional documentation.

Frequently Asked Questions

1. Which is the best Demat account in India?

There is no universally best Demat account. Zerodha, Groww, Angel One, ICICI Direct, and other regulated brokers have different pricing models and features. The appropriate choice depends on whether you prioritize long-term investing, active trading, low AMC, research, banking integration, or other requirements.

2. Which Demat account is best for beginners?

Beginners often benefit from a simple interface, transparent charges, useful support, and easy access to reports. Groww and Zerodha are commonly considered by beginners, but the appropriate broker depends on individual requirements.

3. Which Demat account has zero AMC?

Groww currently advertises ₹0 account maintenance charges. Other brokers may have different AMC structures, exemptions, BSDA rules, or promotional offers. Always verify the latest official pricing before opening an account.

4. Does Zerodha charge brokerage on delivery?

Zerodha currently charges ₹0 brokerage for equity delivery investments. Applicable taxes, DP charges, and other charges can still apply.

5. Is Groww free for equity delivery?

No. Groww currently lists equity brokerage as the lower of ₹20 or 0.1% per executed order, subject to a ₹5 minimum. Therefore, older comparisons describing Groww equity delivery as completely brokerage-free may be outdated.

6. Is Angel One free for delivery?

No. Angel One currently charges the lower of ₹20 or 0.1% per executed equity-delivery order, subject to minimum brokerage of ₹5.

7. What are DP charges?

DP charges are associated with the depository/Depository Participant and can apply when securities are debited from a Demat account, such as on applicable delivery sell transactions. The amount varies between brokers.

8. Can I have two Demat accounts?

Yes, investors can generally maintain multiple Demat accounts, subject to applicable requirements. However, multiple accounts can increase administrative complexity and potentially increase costs.

9. Is a Demat account required for intraday trading?

A trading account is used to execute intraday trades. Because an intraday equity position is generally opened and closed within the same trading session, the shares are not normally held as a delivery position in the Demat account.

10. What should I check before opening a Demat account?

Check the broker’s regulatory details, brokerage, AMC, DP charges, available investment products, platform usability, support, reporting, and any other charges relevant to your intended activity.

Final Verdict

The best Demat account in India depends on what you intend to do with it.

If equity-delivery brokerage is a major consideration, Zerodha’s current ₹0 delivery brokerage is worth comparing.

If simplicity and zero AMC are priorities, Groww may deserve consideration.

If you want research, trading tools, and API functionality alongside brokerage services, Angel One may fit your requirements.

If integrated banking and investing are more important than simply obtaining the lowest brokerage, ICICI Direct may be worth evaluating.

Do not choose a broker solely because an advertisement says “zero,” “free,” or “lowest brokerage.”

Compare the total cost, platform, account structure, security, support, and features that you will actually use.

Most importantly, choosing a Demat account is only the infrastructure for participating in the securities market. It does not determine whether your investments or trades will be profitable.

Understanding investing, market risk, position sizing, trading costs, and risk management is more important than finding a broker with a slightly lower fee.

Trading Smart Edge provides educational resources on stock market basics, technical analysis, trading, options, investing, and risk management for learners who want to build a stronger understanding of financial markets.

Disclaimer: This content is for educational and informational purposes only and should not be interpreted as a recommendation or endorsement of Zerodha, Groww, Angel One, ICICI Direct, or any other intermediary. Brokerage plans, fees, taxes, products, and terms can change. Verify current information from the broker and relevant regulatory sources before making a decision. Investing and trading in securities involve risk of loss.