Best demat account in India
The demat account is just a depository holding for shares — every SEBI-registered broker offers one with either CDSL or NSDL. What actually differs is the broker that issues it: charges, app, support and ease of use. This list ranks demat-issuing brokers by NSE active clients (clients who traded at least once in the last 12 months) — the simplest objective measure of who Indian investors actually pick.
Ranked by NSE active client count from NSE monthly disclosures. Demat sits with CDSL or NSDL, not the broker — so the broker comparison is the meaningful one.
- #1
First-time and casual investors who want one clean app for stocks, mutual funds and FDs.
NSE active clients1.25 crore - #2
Self-directed traders and investors who prefer flat-fee pricing and rich tooling over advisory hand-holding.
NSE active clients68.6 lakh - #3
Investors who want a discount-priced flat-₹20 plan with full-service product breadth in one place.
NSE active clients67.5 lakh - #4
ICICI Bank customers who value 3-in-1 convenience and bundled research over rock-bottom brokerage.
NSE active clients20.5 lakh - #5
Active traders who want simple flat-₹20 pricing and a fast mobile-first app.
NSE active clients20.4 lakh - #6
HDFC Bank customers who prioritize 3-in-1 banking integration and full-service research over low brokerage.
NSE active clients14.3 lakh - #7
Kotak Securities (broking arm of Kotak Mahindra Bank) operates on the Kotak Neo platform with four plans: Trade Free (0.20% delivery, ₹10 per order intraday and F&O), Trade Free Youth for under-30s (free delivery), Trade Free Pro (₹249/month, 0.10% delivery), and Dealer-Assisted (0.20% delivery, 0.02% intraday/futures, ₹35 per lot options).
NSE active clients13.7 lakh - #8
SBI Securities (SBICAP Securities), the broking arm of State Bank of India, runs a tiered structure: Standard plan at 0.50% delivery, 0.05% intraday and futures, and ₹100 per lot on options.
NSE active clients11.4 lakh - #9NSE active clients9.8 lakh
- #10NSE active clients9.0 lakh
Open a calculator on any broker to see the all-in landed cost of a typical trade before deciding. Open the brokerage calculator.
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Frequently asked
What people ask about best demat account in india.
A demat account holds your shares and ETFs in electronic form with a depository — CDSL or NSDL — exactly the way a bank account holds money. It is opened via a SEBI-registered broker, who acts as your depository participant (DP). Buying or selling shares debits and credits this account.
There is no single best — the best demat account for you depends on what you trade and how often. Active intraday traders should pick a flat-fee discount broker. Long-term investors should prioritise reliable customer support and low AMC. New investors should focus on app simplicity. Compare the brokerage and full charges on each broker page before opening.
Yes. Shares are held by the depository (CDSL or NSDL), not the broker — broker failure does not jeopardise your holdings. SEBI mandates segregation of client funds, two-factor authentication on all logins, and periodic reconciliation. The dominant risk to manage is account-level fraud via phishing and OTP sharing.
Account opening (sometimes ₹0), annual maintenance charge (AMC — typically ₹0–₹300/year), DP charges on every sell trade (typically ₹10–₹20 per scrip per day), and statutory charges (STT, exchange transaction, SEBI fee, stamp duty, GST). All of these are on top of brokerage. See each broker page for the full schedule.