Top Demat Account Brokers in India: Which Ones Are Worth Going For?

Opening a Demat account is the first step to entering the online trading share market and investing in various securities, such as stocks, bonds and mutual funds. A Demat account allows you to store your securities electronically, making trading more convenient. Among the many brokers offering Demat accounts in India, some stand out due to their competitive fees, efficient service and user-friendly platforms. This article compares top Demat account brokers and highlights why Bajaj Broking is the best choice in 2024.

1. Bajaj Broking

Bajaj Broking has established itself as a low brokerage trading company that offers excellent service, competitive fees and a highly intuitive trading platform. One of its key advantages is the low-cost structure, which includes zero account opening fees and minimal charges for maintaining a Demat account. Bajaj Broking ensures that both beginners and experienced traders can easily manage their investments without worrying about hefty brokerage costs.

• Account Opening Fees: Free
• Demat Account Maintenance: ₹431 per annum (waived for the first year of the Freedom subscription pack)
• Brokerage: Flat ₹20 (Freedom pack) and ₹10 (Professional Pack) per trade, making it cost-effective for both small and large trades.

Bajaj Broking, a low brokerage trading company, has a clear pricing structure, without hidden charges. This makes it a top choice for anyone looking to minimise costs in the online trading share market. Its competitive edge lies in offering low-cost brokerage while maintaining a high level of service, ensuring that your trading experience is smooth and hassle-free.

2. Zerodha

Zerodha has long been a favourite among traders due to its simple and effective platform, Kite and minimal charges. It is especially appealing to active traders because of its competitive pricing model and comprehensive market research tools.

• Account Opening Fees: Free
• Demat Account Maintenance: ₹300 + 18% GST per annum
• Brokerage: Free on equity delivery, ₹20 or 0.03% on intraday and F&O trades

While Zerodha remains a popular choice, Bajaj Broking’s similar cost structure and free Demat account maintenance for the first year make it a more attractive option for budget-conscious traders.

3. Angel One

Angel One is well-regarded for its comprehensive services, which include research, advisory and various investment options. It is an excellent option for those looking for more than just a trading platform, offering extensive resources for market analysis.

• Account Opening Fees: Free
• Demat Account Maintenance: ₹240 plus taxes per annum (waived for the first year)
• Brokerage: ₹20 or 0.1% plus GST per trade

Angel One offers a similar fee structure to Bajaj Broking, but what makes Bajaj stand out is its more streamlined platform, which prioritises ease of use while offering robust trading tools. For traders looking for a hassle-free, low-cost solution, Bajaj Broking has the edge in terms of simplicity and affordability.

4. Upstox

Upstox is known for its clean interface and affordable trading options, making it a good choice for beginners. It has recently become a popular choice among those looking for zero account opening fees and free Demat account maintenance.

• Account Opening Fees: ₹249 for individual customers 
• Demat Account Maintenance: ₹300 per annum
• Brokerage: ₹20 or 0.05% on trades, whichever is lower

While Upstox offers a lower Demat maintenance fee, Bajaj Broking’s offering is more compelling. With no account opening fees and a waived annual maintenance for the first year, Bajaj Broking stands out with its cost-effective pricing and a broader range of financial tools. 

5. 5paisa

5paisa is another popular discount broker offering flat fees for trading and free account opening. It is designed for traders looking for a budget option without compromising on features.

• Account Opening Fees: Free
• Demat Account Maintenance: ₹300 per annum
• Brokerage: ₹20 per trade flat

Despite its low fees, 5paisa does not offer the same level of customer service or platform features as Bajaj Broking. For traders seeking a balance between affordability and user-friendly tools, Bajaj Broking stands out as the better option.

Conclusion

Bajaj Broking stands out as the top choice for both novice and experienced traders in India due to its competitive fee structure, including free demat account opening, minimal maintenance charges and low brokerage costs. With a user-friendly platform and excellent customer service, it is ideal for thriving in the online trading share market, making it the leading low brokerage trading company for 2024.