If you are ready to begin trading and investing, the first step is to find the best broker for your Demat account. A demat account helps to hold shares in an electronic form. Storing financial securities digitally in Demat accounts protects them while allowing for quick, simple, and easy online transactions/trades. You must have the best Demat account that is reliable, secure and meets the needs of all customers. Now, in this article, you will find a curated list of the best demat accounts in India 2023 for beginners:
1. Zerodha
Now, people usually ask, is Zerodha good for beginners? The answer is absolutely Yes! Zerodha is India’s leading online trading platform and the best provider of demat account services. They were the first Indian company to provide brokerage-free services. Zerodha has feature-rich user interfaces that are simple and functional. It also offers extensive trading charts with more than 100 useful indicators.
Top features of Zerodha:
· Excellent market research tools
· Best technical charts
· Quick customer service
· Flat brokerage charges
2. Upstox
It provides the latest notifications and alerts that keep you up to date on the latest developments in your trading account portfolio, business, and market, making it the best Demat account in India. You can open an account with them in just one day and also there are no account opening charges. Also, their terminal is simple and user-friendly, so it is considered the best demat account for beginners.
Top features of Upstox:
· Paperless and hassle-free opening of Demat account
· Responsive customer support
· Superior trading platforms like Upstox Pro
· Lower brokerage charges
3. Angel Broking
Angel Broking Company is one of India’s oldest brokerage firms. They have recently entered the Indian stock market as a discount broker, to stay in the competition of best and cheapest demat accounts in India. It provides you with appropriate research tools for investing your hard-earned money. You can trade stocks, mutual funds, futures and options, currencies, commodities, and initial public offerings (IPOs).
Top features of Angel Broking:
· Highly advanced trading platforms
· Large networks and franchises
· In-depth research reports and tips
· For the first year, there are no annual maintenance charges (AMC)
4. India Infoline (IIFL) Securities
They are a full-service broker and fulfil all the criteria for a best demat account. They serve retail customers as well as institutional investors. IIFL also have a huge presence outside India like Dubai, London, Singapore, etc. It gives you free access to a Demat account, as well as market analysis tools, which allow you to make informed investment decisions.
Top features of IIFL:
· In-depth market research reports
· You can trade in stocks, currencies, initial public offerings (IPOs), mutual funds, commodities, and many other financial instruments
· Fund transfer service with over 60 banks
· Price alerts and portfolio analysis software can be very beneficial
5.
ICICI Direct
It is the most trusted brand for ages. Due to their brand name, retail investors have trust in them whether it is about stock investing, mutual funds, bonds, or anything. The account they provide is a 3-in-1 account, consisting of a trading account, a Demat account, and a bank account that can be easily opened online. There are different types of plans that ICICI Direct offers i.e ICICI Direct, I-Secure and ICICI Direct I-Saver Account.
Top features of ICICI Direct:
· Most reputed brand name
· One-stop solution for all the investment products
· Allows you to customise the user interface to your specifications
· Detailed watchlist of upto 50 stocks
Conclusion
There is no single demat account that fulfils all your requirements. Each is specialized and unique in its own way. You just have to select the one that fulfils your choices. The above is the list of the best demat accounts in India. Before finalizing the broker, you should look for brokerage fees, app interface, ease of use and also customer support.
Source- https://medium.com/@deepakcomparebroker/best-demat-accounts-in-india-2023-bcfc63c58365
Related -https://comparebrokeronline.com/open-demat-account/