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Best Demat Account in India 2026 — Top 5 Compared

We researched, tested and ranked India's top 5 demat accounts on brokerage charges, annual fees, app quality, features and overall value. Here's our definitive ranking for 2026.

Ranking Table

#BrokerBrokerageAMCDP ChargesApp RatingScore
1Zerodha₹20 or 0.03%₹300/yr₹15.344.2 ★9.2/10
2Groww₹20 or 0.05%₹0₹13.5+GST4.3 ★9.0/10
3Upstox₹20 or 0.05%₹0₹18.54.1 ★8.4/10
4Angel One₹20/order₹240/yr₹204.1 ★8.0/10
55paisa₹20/order₹0₹18.5+GST3.9 ★7.5/10

Individual Reviews

#1 Zerodha

9.2/10

Zerodha is India's largest broker with the most advanced trading platform (Kite). It offers excellent charting, a robust API for algo traders, and Varsity — a free, world-class learning resource. The ₹300 AMC is the only drawback for inactive users.

Best for: Active traders, algo traders, and learners

#2 Groww

9.0/10

Groww is the go-to platform for beginners. Zero AMC, an intuitive interface, and seamless integration of stocks, mutual funds and IPOs in one app make it perfect for first-time investors. The higher delivery brokerage (0.05%) is a minor trade-off.

Best for: Beginners, mutual fund investors, and passive investors

#3 Upstox

8.4/10

Upstox offers zero AMC and a clean Upstox Pro interface. It's a solid budget option but trails Zerodha in charting and reliability. Past server issues during volatile markets have been a concern, though improvements are ongoing.

Best for: Budget-conscious investors and casual traders

#4 Angel One

8.0/10

Angel One (formerly Angel Broking) combines good research & advisory with a modern app. It's a strong choice for investors who want brokerage research reports and stock recommendations alongside trading. The AMC and DP charges are slightly higher.

Best for: Investors who value research and advisory

#5 5paisa

7.5/10

5paisa is an ultra-budget broker with zero AMC and flat ₹20 brokerage. The app UX has improved but still lags behind competitors. It's best for cost-conscious investors who prioritize low fees over app polish.

Best for: Ultra-budget investors and simple stock/MF buying

Our Pick

Best for Beginners

Groww

Zero AMC, simplest interface, and all-in-one investing make Groww the easiest first demat account.

Best for Serious Investors

Zerodha

Advanced tools, Varsity, and proven reliability make Zerodha the gold standard for active market participants.

Frequently Asked Questions

Which is the best demat account for beginners in India?
Groww is widely considered the best demat account for beginners. It offers zero AMC, a clean interface, and extremely simple onboarding — making it easy for first-time investors to start trading and investing.
What is the cheapest demat account in India?
Groww and Upstox both offer zero AMC demat accounts with free account opening. 5paisa also offers competitive pricing at ₹20/order flat brokerage with no AMC.
Is Zerodha still the best broker in India?
Zerodha remains the best choice for active and serious traders due to its advanced charting, API access, and Varsity learning platform. However, for passive investors, brokers like Groww or Upstox may be more cost-effective due to zero AMC.
How do I open a demat account online?
All top brokers offer online account opening via Aadhaar-based e-KYC. You'll need your PAN card, Aadhaar, a bank account, and a signature photo. Most accounts are activated within 24-48 hours.
What is the difference between a demat account and a trading account?
A demat account holds your shares and securities in electronic form, while a trading account is used to buy and sell shares on the stock exchange. You need both to trade in the Indian stock market. Most brokers open both simultaneously.
Can I have multiple demat accounts in India?
Yes, you can open multiple demat accounts with different brokers. There's no legal limit. However, maintaining multiple accounts means managing AMC charges (if any) and tracking portfolios across platforms.