Top 8 Best Demat Accounts for Beginners In India 2024

Demat the trending word in investors’ vocabulary is the doorway to a financially secure future. However, if you are new to investments then before knowing the best Demat account for beginners, know what a Demat account is and why it is mandatory to open.

What is a Demat and it’s important for Trading Platform?

A Demat account is a digital way to hold shares and securities to diminish the risk of investment theft. It is an account dedicated to conducting trading transactions on day to day basis. Other than shares, it also holds Mutual Funds and IPOs. An investor has to open a Demat account with stock brokers validated by SEBI i.e. (Securities and Exchange Board of India).

Via this account, investors engage in the buy/sell of stocks, mutual funds, and IPOs. Being tech-generation, you must know the best Demat accounts for beginners this season. Also, the paperless transaction simplifies the process. Now, you can trade in the market with a click and can do the needful research before taking a decision.

With the general elections of 2024 about to begin, the stock market is witnessing a mixed trend including bull and the bear. However, economic pundits feel that the stock market will rise to the next level once the election results are out. So, if you plan to put money in stock, it is important to understand the fundamentals of trading.

Compare Top 8 Best Demat Accounts for Beginners in India 2024:

Let’s start with the basics and know the best Demat account for beginners in India:

1. Sharekhan Demat Account:

It is the first demat account for online trading purpose in India. Introduced decades ago, the Demat account charge for opening and maintaining it is NIL. The 23-year legacy of trust is built upon the latest technology. The advanced tech mechanism ensures Sharekhan Demat account is the foundation investors wish for on the trading platform.

The professionals with years of experience offer tailored assistance in ascertaining the client’s purpose of investment. With a Sharekhan Demat accounts explore numerous stocks, mutual funds, and IPOs to make a wise choice. The company has a vast online and offline network in 1000+ cities with free Dial-N-Trade opportunities. Thus, you can connect and meet advisors personally to resolve your doubts. It is the top demat and trading account for beginners to foray into the liquid asset market.

2. Zerodha Demat Account:

It is a popular trading platform with low brokerage charges (0.01 paisa) and is the brainchild of Nithin Kamath. The company has outperformed competitors thanks to its features. Its’ two-in-one account syncs well between the trading and demat accounts.

Its kite, the ultra-fast application takes you through the in-depth and live-streaming data via the simple user interface. Its direct buy mutual fund online without commission makes it the top Demat account for beginners.

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3. Angel One Demat Account:

Angel One is also a wise trading platform for new investors. The charts, option chains, and view portfolios are the features to explore the market daily.

The well-researched knowledge about the stock market and its real-time news updates keep the investors alert. This financial instrument offers first-year maintenance free of cost. However, from the second year, the investor has to pay Rs. 20 as AMC (Annual Maintenance Cost). With zero percentage charge (T*C), it becomes the best Demat account for beginners to try hands-on.

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4. Upstox Demat Account:

Its fair brokerage charges in the competitive market make it popular amongst investors. Ravi Kumar with his brother, in 2008 laid the foundation of this company to propel the financial potential of Indians in a streamlined manner.

Over time, the company built its base and officially came into existence in 2010. The trading platform in India offers full-time discount brokerage services with diverse portfolios. Thus, investors have the option to invest his/her hard-earned money wisely.

The professional and technology-based working of Upstox, assist investors to take their stocks upwards. In the journey, the company received backing from Ratan Tata, as he funded them in 2016. It is a testament that buying/selling via this trading platform is simple and safe. The acknowledgment by CDSL for being the first broker with the highest number of users in a month shows it’s user-friendly.

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5. 5paisa Demat Account:

With the lowest brokerage fee, 5Paisa is an advance trading platform with web and mobile-friendly applications. This is the best Demat account for beginners as it offers diverse investment options like mutual funds.

One very important feature of 5paisa is its round-the-clock client assistance system. Thus, a trader or investor never lands in trouble as the company renders the best assistance anytime, anywhere.

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6. Kotak Securities Demat Account:  

It is another best Demat accounts for beginners with limited foreign stocks. To avail of stock, IPOs, and mutual fund trading, you have to pay Rs.299 as opening charges. Also, the annual charge of Rs. 600 is mandatory to pay.

With this, you can enjoy trading opportunities and enhance portfolios diversely to secure your future financially.

7. Groww Demat Account:

Grow is what everyone heard since childhood. However, the opportunity to realize it comes with our financial freedom. Groww is a user-friendly trading platform for investors. It’s an easy-to-understand dashboard allows investors to monitor every portfolio in a detailed manner.

The features that make Groww the best Demat account for beginners are a free account opening charge and free Demat AMC. Hence, managing investment is easy in today’s time when time is money.

8. SBICAP Securities Demat Account:

This trading platform is a sister company of the SBI group. It offers the first three trades at zero cost, however, 20/trade brokerage per trade is payable afterward. AMC (annual maintenance cost) is payable from the second year.

With sole aim of simplifying trading, all brokerage companies distinguish on a few fundamentals. Like Groww offers brokerage charges of Rs. 20 or 0.05%, account opening charges of Rs.0, and AMC Free i.e. account maintenance charges Free Similarly, 5Paisa has brokerage, account opening, and AMC charges of Rs.10/trade, Free and Rs. 250 respectively. The amount differs for SBICAP Securities Demat account with the cost of Rs.850, Rs. Free and Rs.20/trade for AMC and other.  Whereas, some offers zero and NIL value too.

These trading accounts are part of the technology-driven trading system. It is an opportunity for everyone from a homemaker to professional to invest and expand wealth portfolio. From free account opening to low brokerage costs and AMC charges, there are several variants available in the market. Hence, it depends upon you to choose between a free and paid demat account.

Consider a point While choosing the Best Demat Account for Beginners:

• The brokerage, Demat maintenance, and Demat transaction costs are all things to consider.

• Brokers’ reputation is enhanced through customer-centric amenities.

• Trading may be simple when accompanied by competent coaching.

• Another major source of lucrative trading is the most recent technology-driven product. 

• Check to see whether there are any additional expenses, such as advising options, futures trading App costs, and so on.

• Unwanted problems can be avoided with the use of appropriate software.

• Apart from the pricing scheme, expect to learn the broker thoroughly while choosing the best Demat account for you.

5 Easy Step to Open Online Best Demat Account for Beginners:

Submit a completed account opening form as well as a KYC form. Additionally, you will need to attach copies of-

1. PAN Card.
2. Verify Aadhar with Otp.
3. Selfie or Passport-sized photographs.
4. Esign.
5. When you establish an account with the DP, you will be given a unique Client ID. This, along with other information, will assist you in gaining online access to your Demat Account.

Click Here to Open Free Upstox Demat Account.

Benefits of Best Demat Account for Beginners in India:

Trading has become easier because of the availability of the Best Demat account for Beginners. Stock handling is no longer a concern. The majority of traders nowadays depend on online stock trading.

• The easiest method is to keep track of your investments.
• There will be no longer waits because securities can be transferred quickly.
• With a top discount broker, the transaction fee is within a reasonable range.
• Paperless technology solves issues such as theft, counterfeit securities, and so forth.
• The securities are not subject to stamp duty when they are transferred.
• Any small changes, such as address changes, are handled by the DP, which saves time by avoiding updates to linked shares on each firm separately.

Frequently Asked Questions (FAQs):

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