Top 10 Best Demat Account Providers (Full Service) in 2017 in India
If you want to invest in stocks or mutual funds or IPOs you would trade them through your full services demat account. There are several stock brokers offering demat and trading account. Some are offering 3-in-1 trading and demat account. Some of them have unique features. Who are the best demat account providers in 2017 offering full services in India? Which is the Best Demat Account in 2017 in India? In this article I would provide Top 5 Stock Brokers offering 3-in-1 Demat and trading account and also 5 Best Demat Account providers offered trading and demat account.
Who are Full Service Stock Brokers in India?
Discount Stock brokers offer demat account with low charges. However they offer only stocks, futures and currency trading. Many of us do not open demat account only for stocks and futures, but also to invest in mutual funds, fixed deposits IPO’s etc., Here comes full Service Stock brokers who offer all these services. Some of the full service stock brokers offer 3-in-1 trading account too.
Who should consider opening these full service demat accounts in India in 2017?
If you are new to the investment world, you can consider opening one of these demat accounts. If you are already existing investor, but do not want to have too many accounts to float, you can consider opening these demat accounts.
To whom these demat accounts may not be useful?
If you are daily trader or trades high volume, these are not for you. Daily traders trade very high volume and even small brokerage can eat away their profits, hence they can stay away from such demat accounts.
Top 5 Best Demat Account Providers in 2017 in India (3-in-1 Account)
There are stock brokers who are offering 3-in-1 account i.e. Demat, Trading and Savings Bank Account. This gives you easy access to your funds to trade and utilize funds when you need.
Top#1 – ICICI Direct – 3-in-1 – I-Secure Plan
ICICI Direct is the subsidiary of ICICI and the largest stock broker offering 3-in-1 demat and trading account. Its features are very simple to use, hence it has become popular stock broker offering demat account in India. Here are the features of this demat account.
Account opening charges – ₹ 975
Demat Account Annual Charges – ₹ 600
Brokerage charges for Equity Trading – 0.55% of traded amount
Brokerage charges for Equity Intraday – 0.275% of traded amount
Brokerage charges for Equity Futures – 0.05% of traded amount
Brokerage charges for Equity Options– ₹ 95 per contract
Brokerage charges for Currency Futures – 0.05% of traded amount
Brokerage charges for Currency Options – ₹ 25 per contract
Some of the good features:
It uses trading racer platform which is very fast compared to other platforms and even simple to use.
You can place VTC (Valid Till Cancel) order. This would be useful if you want to sell or buy a stock at fixed price till that reaches irrespective it is today or tomorrow or after 3 months.
Free stock recommendations from their advisory board.
Top#2 – HDFC Securities – Online Trading Account
HDFC Securities is the subsidiary of HDFC and which is one of the leading stock broker to offer 3-in-1 trading and demat account.
Here are the features of this demat account.
Account opening charges – ₹ 999
Demat Account Annual Charges – ₹ 750
Brokerage charges for Equity trading – 0.5% of traded amount
Brokerage charges for Equity Intraday – 0.1% of traded amount
Brokerage charges for Equity Futures – 0.05% of traded amount
Brokerage charges for Equity Options– ₹ 100 per contract
Brokerage charges for Currency Futures – ₹ 23 per contract
Brokerage charges for Currency Options – ₹ 23 per contract
Some of the good features:
1) Its charges for currency future and currency options are low compared to others. If you trade heavily on currency, you can opt for this demat and trading account.
2) Free stock recommendations from their stock market experts team.
Also Read: Top 5 Best Small Cap Mutual Funds to invest in 2017
Top#3 – IDBI Direct – Paisa Power Classic Plan
IDBI Paisa Builder is the subsidiary of IDBI. Here are the features of the demat account.
Account opening charges – ₹ 700
Demat Account Annual Charges – ₹ 350
Brokerage charges for Equity Brokerage – 0.5% of traded amount
Brokerage charges for Equity Intraday – 0.08% of traded amount
Brokerage charges for Equity Futures – 0.08% of traded amount
Brokerage charges for Equity Options– ₹ 100 per lot
Top#4 – SBI Securities – eZ-Trade
SBI Securities is subsidiary of State Bank of India which offers full services on demat and account. Here are the features of this demat account.
Account opening charges – ₹ 850
Demat Account Annual Charges – ₹ 350
Brokerage charges for Equity Brokerage – 0.5% of traded amount
Brokerage charges for Equity Intraday – 0.05% of traded amount
Brokerage charges for Equity Futures – 0.05% of traded amount
Brokerage charges for Equity Options– ₹ 100 per lot
Brokerage charges for Currency Futures – 0.03% of traded amount
Brokerage charges for Currency Options – ₹ 30 per lot
Top#5– Axis Bank – Fixed Plan Trading account
Here are the features of this demat account.
Account opening charges – ₹ 999
Demat Account Annual Charges – ₹ 650
Brokerage charges for Equity Brokerage – 0.5% of traded amount
Brokerage charges for Equity Intraday – 0.05% of traded amount
Brokerage charges for Equity Futures – 0.05% of traded amount
Brokerage charges for Equity Options– ₹ 100 per lot
Brokerage charges for Currency Futures – 0.03% of traded amount
Brokerage charges for Currency Options – ₹ 100 per lot
Top 5 Best Demat Account Providers in 2017 (Demat + Trading Account only)
These stock brokers does not offer savings bank account (not 3-in-1 accounts. They just offer trading and demat account but they are full service brokers.
Top#6– Motilal Oswal Demat Account
You can open Motilal Oswal Demat Account in 15 minutes which is paperless. Here are the features of the demat account.
Account opening charges – ₹ 0
Demat Account Annual Charges – ₹ 441
Brokerage charges for Equity Delivery – 0.25% of traded amount
Brokerage charges for Equity Intraday – 0.03% of traded amount
Brokerage charges for Equity Futures – 0.03% of traded amount
Limited information is available on this demat account. The research reports are of great help as their stock recommendations are solid.
You may also like: Best Stocks to buy in 2017 that would benefit from GST
Top#7– Nirmal Bang – Basic Plan
Here are the features of the demat account.
Account opening charges – ₹ 0
Demat Account Annual Charges – ₹ 200
Brokerage charges for Equity Delivery – 0.2% of traded amount
Brokerage charges for Equity Intraday – 0.02% of traded amount
Brokerage charges for Equity Futures – 0.02% of traded amount
Brokerage charges for Equity Options– ₹ 35 per lot
Brokerage charges for Currency Futures – 0.02% of traded amount
Brokerage charges for Currency Options – ₹ 20 per lot
Low charges for equity or futures makes this demat account as unique.
Top#8– SMC Global – Demat and trading account
Here are the features of the demat account.
Account opening charges – ₹ 1,000
Demat Account Annual Charges – ₹ 300
Brokerage charges for Equity Delivery – 0.3% of traded amount
Brokerage charges for Equity Intraday – 0.03% of traded amount
Brokerage charges for Equity Futures – 0.03% of traded amount
Brokerage charges for Equity Options– ₹ 70 per lot
Brokerage charges for Currency Futures – 0.03% of traded amount
Brokerage charges for Currency Options – ₹ 20 per lot
Low charges for equity or futures, makes this demat account as unique.
Top#9– Aditya Birla – iDecide Plan
Here are the features of the demat account.
Account opening charges – ₹ 750
Demat Account Annual Charges – ₹ 450
Brokerage charges for Equity Delivery – 0.3% of traded amount
Brokerage charges for Equity Intraday – 0.03% of traded amount
Brokerage charges for Equity Futures – 0.03% of traded amount
Brokerage charges for Equity Options– ₹ 50 per lot
Brokerage charges for Currency Futures – 0.03% of traded amount
Brokerage charges for Currency Options – ₹ 20 per lot
Even this plan offers Low charges for equity or futures. Good for investors who invest on regular basis.
Also Read: How to Open Demat and Trading Account in India?
Top#10– IndiaBulls – Power – Trading and demat account
Here are the features of the demat account.
Account opening charges – ₹ 750
Demat Account Annual Charges – ₹ 400
Brokerage charges for Equity Delivery – 0.3% of traded amount
Brokerage charges for Equity Intraday – 0.03% of traded amount
Brokerage charges for Equity Futures – 0.03% of traded amount
Brokerage charges for Equity Options– ₹ 100 per lot
Brokerage charges for Currency Futures – 0.03% of traded amount
Brokerage charges for Currency Options – ₹ 100 per lot
Even this plan offers Low charges for equity or futures.
Conclusion: I opened 3-in-1 account with ICICIDirect almost 15 years back as it provides access to all services like stock trading, futures trading, mutual fund investments, fixed deposits and IPOs. You should consider opening demat account based on your investment style and low brokerage for the investment options which you generally trade.
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Suresh
Top 10 Best Demat Account Providers in 2017 in India
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Hey, if you are interested in equity, try motilal oswal once
Kotak Securities in not on the list!
How come u missed out on Zerodha .. zero brokerage ?
It is discount broker. This article is for full service brokers
Sir
Recently I closed my trading account from angel broking ltd. I have a question that what about my demat account number then,Is it also closed with trading account? Also I would like to know about the debenture which I invested in a pvt financial company as I invested in debentures on the basis of demat number which was given me by angel broking before closing trading account.
How about Geojit, Sir.
What documents they require for opening these accounts ?
Suresh, very useful article. A table would have made it much easier to compare. How does smaller players like FundsIndia compare?
Is any of the above brokers offering tranding platform in Debit segment? Like trading in NCDs and Bonds
Yes. All these full service brokers offering these services.
Hi Suresh ,
What's about Sharekhan Trading account ? Please tell me your thought . I'm using sharekhan . So , am i loosing anything ?
Thanks .
Bikash Paul
They are full services brokers, however their charges are high. This list is where demat account provides are offering at low brokerage.
Hi Suresh,
Your information provided is certainly useful.
I use Sharekhan and the charges are certainly lesser than that of ICICI Direct. (Annual Charge: Rs 400, Trading: .5% , intraday (.05%). They will also reduce it if you can bargain. I have trading charges lesser than half of what has been mentioned for ICICI Direct because of bargain 😉 however, they are lesser than that of ICICI without bargain too.
Hi Suresh, do you mean sharekhan brokerage charges are high compared to these? I'm new..can you pls give an example
Waiting for the review of cochin shipyard ipo
Full details not yet available Manu. Pls wait.
Waiting for review of cochin shipyard IPO
Hi,can you please tell me any other brokers who provide VTC or similar services?
Thank you.
Hi ,
why have you not listed discount brokerages like zerodha which charge no brokerage ?
Hi srikumar, I already indicated in the article. This article is only about full service brokers. Zerodha is discount broker, they do not offer all services.
Hi Suresh
Good comparison, needed your opinion on the best and highest interest rate in secured option with quarterly payout for senior citizens who want to invest 25 lakhs ?
Hi Suresh
My observation has been banking companies like ICICI, HDFC etc charge very high brokerage. They are only good if one is looking for investment. Even for that matter one can still consider pure broking firm like motilal oswal, Sharekhan etc. For traders definately trend is definately towards disccount brokers due to low brokerages.
Hemang, 200% agree with you. If you are frequent trader or day trader, you should go for discount brokers. I have indicated the same in this article
If anybody tell Zerodha is good compared to all. Kindly share the brokerage fee details?
Hi Bala, Zeroda is good. It is discount stock broker, not full service demat account provide, hence not appearing in this list.
What about firms like ShareKhan and Karvy? Are they classified as discount stock brokers?
They are full services brokers, however their charges are high. This list is where demat account provides are offering at low brokerage.
Thanks for the clarification. Will be interesting to see a comparison of 2 or 3 full service brokers with some of the firms on this list.
Surprised to see no Sharekhan (now part of BNP).
They are full services brokers, however their charges are high. This list is where demat account provides are offering at low brokerage.
Suresh,
Zerodha is not part of this list. Is it good?
It is good, however it is discount broker, hence not appearing in this list.
Dear Mr Suresh
I am new invester in trading even do not know a little bit of stock trading etc but old in MF, sip like investments. Now want to start trading in stock. How to start? Among above mentioned service providrs, which Demat A/c will be good for me? What are the guidelines for safe investmebt for a beginer like me?
Rgds
Varun Rastogi