5 Best Demat Account In India | Top 5 stock broker In India, Registration Process
5 Best Demat Account In India: Now days a trend of business has turned towards the online trading such as investment in shares, Trading in commodity market and investment in mutual funds. For this, we need a broker which executes our deals and trades with the related company of which we want to purchase a share.
For your convinience we are suggesting you the 5 best Demat Account in India along with documents needed for one time registeration process. You can choose them and start dealing in shares and stocks.
First we will discuss how to open a demat account and which broker is best for opening of the demat account.
What is Demat Account ?
A Demat Account is the account which holds Financial Securities and Stocks in Electronic form. In India, Demat account is maintained by Two depository Organisations. These are National Securities Depository Limited and Central Depository Services Limited.
It makes the process of holding investments like shares, bonds, government securities, Mutual Funds, Insurance and ETFs easier, doing away the hassles of physical handling and maintenance of paper shares and related documents.
Here, we listed below top 5 best broker to open a demat account with them.
1) Wisdom Capital Demat Account
2) ICICI Direct Demat Account
3) Kotak Securities Demat Account
4) Zerodha Demat Account
5) Angel Broking Demat Account
Now, we will look at the services and plans of each of these Brokers.
1) Wisdom Capital Demat Account
Incorporated in 2013, Wisdom Capital is an online discount brokerage firm offering brokerage services for stocks, future and options, currency and commodities on NSE, BSE, MCX & NCDEX.
Wisdom Capital Group offers broker assisted trade execution and automated online investing on all the stocks in BSE and NSE. They provide tools like charting, live data etc either free of cost or at a minimal price for making informed decisions and substantial gains.
It offers 3 plans to suite our trading Needs.
A) Freedom Plan
- In this plan, the margin is as follows –
- Delivery Margin In Cash: 1X
- Intraday Exposure In Options: 1X
- Intraday Margin In Futures/MCX: 2X MIS & 10X in Cover Order
- Intraday Margin In Cash: Upto 5X MIS
B) Pro Plan
- In this plan, the offered margin for the clients is as follows –
- Delivery Margin In Cash: Upto 5X
- Intraday Exposure In Options: Upto 40 X MIS
- Intraday Margin In Futures/MCX: 6X MIS & 20X in Cover Order
- Intraday Margin In Cash: 1X Buy & 6X Sell
C) Ultimate Plan
This plan is designed for the high frequency traders who needs highest intraday margins in Intraday and delivery trades. This plan offers the margin as listed below.
- Delivery Margin In Cash: Upto 5X
- Intraday Exposure In Options: Upto 40 X MIS
- Intraday Margin In Futures/MCX: Upto 10X MIS & 20X in Cover Order
- Intraday Margin In Cash: 1X Buy & 10X Sell
- Now we will look the process of opening of Demat account with Wisdom Capital.
You have to visit the official website of Wisdom Capital and then select the tab of Opening of Demat Account.
How to register for Demat Account in Wisdom Capital
1) Now, Register Your self. You can open an online account instantly if you have registered KRA.
2) Fill up the form and You will be emailed by the broker.
3) You will get a soft copy of your Registration Form via email.
4) Request a Courier – Send them an email at [email protected] with your address and contact details and they will courier the form to you.
2) ICICI Direct Demat Account
ICICIdirect offers you a Unique 3-in-1 On-line Trading Account which integrates your demat, savings and trading account to have secure and seamless investment experience. View live share price, do share trading on NSE and BSE, trade in Futures & Options, Currencies, invest in Mutual Funds, IPOs and Life Insurance through our seamless and secure 3-in-1 online trading account.
Charges and Plans of ICICI Direct –
The Account opening fee varies from 0 to 975 rupees. There are multiple schemes available, for more details on the scheme, contact team ICICI.
There is no AMC (Annual Maintenance charge) for Demat Account for the 1st Year. However charge of 700 (excluding taxes) is levied from 2nd year onwards.
Documents Reauired to Open A Demat Account With ICICI Direct –
- Address proof
- Permanent Account Number (PAN) card
- Passport-sized colour photographs
- The Features of the Demat Account of ICICI Direct –
- Time-Saving as electronic format is instant.
- Account can be opened under BSDA Facility (Basic Service Demat Account).
Electronic credit of all corporate action of the respective company directly to your Demat Account (Bonus/splits/mergers) or to the linked bank account (Dividends, etc.).
1) No paperwork since securities held in electronic form.
2) Elimination of costs such as handling expenses, stamp duty, safety etc. which is involved in physical securities.
3) No Storage Risk –It eliminates the threat of theft, forgery, fake certificates, non-delivery, etc.
Process Of Opening A Demat Account With ICICI Direct is quite easy. Just Visit ICICI official website and Register your self.
3) Kotak Securities Demat Account
Kotak Stock Trader is a widely used mobile trading app for trading in the Indian stock market.
Charges and Brokerage plans of Kotak Securities –
- Equity Delivery – 0.59% to 0.30%
- Equity Intraday – 0.06% to 0.05%
- Equity Futures – 0.07% to 0.05%
- Equity Options – 2.5% to 1.8%
Is Kotak Securities safe ?
Customers can visit any nearby office of the broker to get a solution to any investment-related problems. Kotak Securities’ ratio of complaints to active client is lower indicating it as one of the safe brokers in India.
Documents Required to Open a Demat Account with Kotak Securites
1) Identity proof: Any government-registered document that has your photograph will suffice.
2)Address proof: Submit any government-issued card that bears your address. You could also submit a utility bill.
3) Income proof: You can submit your salary slips or income tax returns.
4) Bank account proof: A cancelled bank cheque will be required for this.
5) PAN card
6) Passport-sized photographs
How to open A demat Account With Kotak Securities
1) Select the Depository Participant (DP) First select where you want to open a Demat Account and then select the Depository Participant you want to open demat account with.
2) Fill up demat account opening form. Read Terms and Conditions carefully.
3) In-Person Verification.
Now Access Your Demat Account at Official website of Kotak Securities –
The Advantages of Demat Account with Kotak Securities
The 2-in-1 trading account from Kotak Securities gives you the dual benefit of a share trading account and a demat account rolled into one account.
4) Zerodha Demat Account
Zerodha Broking Limited is an Indian financial services company, that offers retail and institutional broking, currencies and commodities trading, mutual funds, and bonds.
It was founded in 15 August 2010. The head quarter of the company is in Bangalore and the company has the number of over more than 4 million+ (2021) users.
Charges and Brokerage Plans of Zerodha
Zerodha account opening charges are Rs 200 for online account opening. If you choose to open an account offline, you will be charged Rs 400. The AMC of Demat Account is Rs. 300 per year.
Brokerage charges are –
1) Equity Delivery – Rs 0 (Free)
2) Equity Intraday – Flat Rs 20 or 0.03% (whichever is lower) per executed order
3)Equity Future – Flat Rs 20 or 0.03% (whichever is lower) per executed order
4) Equity Options – Flat Rs 20 per executed order (on Turnover)
5) Currency Futures – Flat Rs 20 or 0.03% (whichever is lower) per executed order
6)Currency Options – Flat Rs 20 or 0.03% (whichever is lower) per executed order
7)Commodity – Flat Rs 20 or 0.03% (whichever is lower) per executed order
8) Mutual Fund – Rs 0 (Free Unlimited Direct MF)
Documents required to open a Demat Account with Zerodha
1) Your PAN card
2) Your Aadhaar Card
3) To complete the e-Sign process, you will have to authenticate it with an OTP. So, make sure you have the mobile number linked to your Aadhaar.
4) Cancelled cheque/Bank statement to link your bank account.
5) A photo or scanned copy of your signature proof will be required to be uploaded.
6) Income proof – It is mandatory to submit income proof if you wish to trade in Futures and options – Equity, Commodity, and Currency. You can submit any one of the below documents:
a. Form-16
b. Income Tax Return Acknowledgment
c. 6-month Bank statement
d. Latest salary slip
5) Angel Broking Demat Account
Angel Brocking was established in the year 1987. Its headquarter is in India. Angel brocking is the stock broker firm.
The company is a member of the Bombay Stock Exchange, National Stock Exchange of India, National Commodity & Derivatives Exchange Limited and Multi Commodity Exchange of India.
The Advantages of opening a Demat account with Angel Broking
These are some of the advantages of Angel Broking Demat Account.
1) Lower Risks
2) Easy Holdings
3) Odd Lots
4) Reduced Costs
5) Reduced Time
Charges and Brokerage plans of Angel Broking Demat Account
1) Trading Account Opening Charges (One Time) – Rs 0 (Free)
2) Trading Annual Maintenance Charges AMC (Yearly Fee) – Rs 0 (Free)
3) Demat Account Opening Charges (One Time) – Rs 0 (Free)
4) Demat Account Annual Maintenance Charges AMC (Yearly Fee) – Rs 450
Documents Required to open a Demat Account with Angel Broking
1) Proof of Identity (POI) (Eg.: Driving license)
2) Proof of Address (POA) (Eg.: Passport)
3) Proof of Income (For trading in derivatives such as F&O) (Eg.: Copy of ITR Acknowledgement)
4)Proof of Bank Account (Eg.: Cancelled cheque)
5) PAN Card
6) 1 to 3 passport size photographs
How to Open A demat Account With Angel Broking
Visit the Official website for the same. Register yourself and enjoy your demat account with Angel Broking.
