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Best Demat Account providers in India

A demat account is a pre-requisite if you want to start trading in the stock markets and are planning to hold and buy shares. If you are looking to get a new demat account, you must make a smart choice and choose the right type of account offered by brokerage houses, or you might end up paying a high fee and charge to use these accounts. Remember, that different charges are applicable for using and maintaining a demat account in India.

 

What do you need from your demat account? Well, if you are a beginner and don’t know a whole lot about stock markets, trading and all, but are looking to get in on the good returns that the market has been offering over the past ten years, you will probably be better off taking a demat account from a full service brokerage company over a discount broker.

You will need:

  • Education on the basics of the stock market and trading tips
  • Less charges
  • Help when you need it, and intraday assistance
  • Good trading platforms with ease of use

A full service brokerage firm like ICICI securities offers a good three in one account to get you started with trading, including a savings account, demat account and a trading account. Other firms linked to banks like HDFC and Kotak also offer some variation of an all in one account. The main advantage with these types of demat accounts is that they reduce the fuss of money transfer between your trading account and your bank account. Although the brokerage tends to be on the higher side with such firms, the ease of use and the support/educational assistance is great for a beginner wetting their feet in stock market trading.

Best demat account provider india

 

If you are a pro, and want to do it your way, search for a discount broker instead. Discount brokers offer you a no frills demat account, and that’s it. They don’t bundle a savings account or the personalised support that you get from a full service brokerage company. As the name suggests, you get their service at a much cheaper cost – But you are mostly on your own. The top discount brokers of India offering great no-frill demat accounts are Zerodha (which is ranked the best stock broker in India for 2018) , Tradesmart online, SAS Online and so on.

The main benefit of using a discount broker for your demat account is that you pay a fixed price on your trades, irrespective of the size – which saves a lot of money for you.

Now to open your demat account, you would need the following documents:

PAN (Permanent Account Number) Card (Mandatory)

Identification Proof

Address Proof

Passport Size Photograph

At the end of the day, remember that there is no such concept as “the best demat account or the best stock broker in India” – it is only the “best demat account that suits your needs or the best stock broker that suits your requirement.” Many stock broking houses offer a variety of products and options that might not be what you are looking for. Read the fine print before taking a decision. It will help you in the long run.

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How to find the Best Stock Brokers in India

If you are looking to start investing your hard earned rupees into the stock market, you are going to need to get a broking account. Many people think that all brokers are the same, and that there is no difference between two brokers. That is a misconception.

 

When you are looking to get into the stock market, and start trading, and make profits, not losses on your investments, you need to have a good broker who knows their stuff well. Finding the right broker is not an easy task. You need to make a list of the things that you are expecting from your broker in-order to be able to find the best stock broker in India for you easily.

 

In this article, we will talk about the different types of brokers present in the market, and how to judge them based on certain criteria.

 

There are basically two types of stock market brokers – Full service and discount.

 

stock broker serviceFull service brokers offer services matching their name sake. They offer end to end solutions for your stock broking needs. They help you open a demat account, give you optimised research and information regarding purchase of shares and investments, as well as help you out with tax planning and retirement planning services. Amongst these type of brokers, bank subsidiaries are mostly common with the salaried crowd, as they open up three in one accounts at the start of their employment with a partner company, consisting of a salary savings account, a demat account and a trading account.

 

The big players in this market are ICICI Securities, HDFC Securities, and Kotak Securities.

 

Whereas other full service brokers offer all of the other facilities that the bank subsidiaries provide, they do not offer a savings account. These include brokerage firms like Angel Securities, Sharekhan and so forth.

 

Discount brokers offer no-frills accounts, with just the bare basics required for you to trade. This option is not preferable if you are a newbie to stocks, because you will miss out on the valuable insight and analysis that full service brokerage firms offer with their packages. Your money is as safe with discount brokers as it is with full service brokers, but you will be mostly on your own when it comes to investing and growing your money, which is great if you are an experienced pro and don’t need people watching your back. The discount players are companies like Zerodha, Smart Trade Online and so forth. s

 

In terms of active clients and returns, the best stock broker in India is ICICI securities which has the largest number of active clients as on March 2018, and have a great research team which delivers great insights which help clients get more returns on their investments. They offer the best demat account in India which can be easily managed by users by logging into a dedicated website with a dashboard feature to track investments. With the tight integration between the 3 in 1 accounts, money earned from trading is immediately available in the savings account and can be withdrawn easily.

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