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5 Best Free Demat Accounts in India

  

Individuals who like to trade and invest should have a demat account. This will help the investors to buy and sell securities safely and conveniently in electronic form. The term ‘demat’ is derived from the word ‘dematerialization’ account. However, to open demat account, an individual has to bear certain charges which come along with the account. This can include account opening charges, annual maintenance charges, transaction charges, etc.

 


Therefore the owner of the account might discontinue using the demat account due to the huge expenses related to it. To help investors cut down on the demat account expenses, few top share brokers in India offer free demat account.

Before moving to the list of brokers let us understand the basic meaning of demat account.

What is a demat account?

A dematerialization account is used to hold bonds, shares, securities, mutual funds, exchange-traded funds etc. in an electronic format. The demat account holds securities in electronic form which makes trading fast and convenient. The securities can be also converted back to physical form. This process is called rematerialization.

In India, Central Depository Services Limited (CDSL) and National Securities Depository Limited (NSDL) offer free demat account services. Apart from this, stock brokers, depository participants and intermediaries provide free demat account services as well. Each of the intermediaries will have their demat account charges that vary based on the number of securities held, type of subscription and terms and conditions.

However, some intermediaries also offer free demat account. Below are 5 best free demat account providers in India.

1.    Angel Broking Free Demat Account

Prevailing in the industry since 1987. Angel Broking is one of the oldest brokerage houses in India. The firm provides a technology-enabled demat account. Investors need not provide their complete details every time as the relevant transaction will be carried out through depository participant identification.

Features of Angel Broking demat account

●     The company does not charge for equity deliveries

●     There are no hidden charges associated with the account

●     Investors can seamlessly open demat account online as the company provides 100% paperless demat account opening

●     Investors can also opt for two in one account for easy trading of IPOs, equities, commodities, mutual funds, currencies and derivatives.

2.    5.Paisa.com free demat account

The firm is one of the well-known discount brokers in India. It provides investing and trading services derivatives, stocks, currencies and much more.

Features of 5Paisa.com free demat account

●     No brokerage fees

●     No depository participant charges associated with demat account

●     Zero account maintenance charges with pricing plans

●     Investors can avail the integrated platform for investment, trading and advisory services

●     Quick paperless trading account

●     Mobile application facilities

3.     Zerodha demat account

Zerodha offers a free demat account to its users. The company is one of the oldest brokerage firms. It offers equity deliveries for free and has a portal, Z-connect and interactive blog to solve customer queries.   

The above mentioned free demat account providers have been chosen after thorough research. You can easily open free demat account with any of the brokerage firms mentioned in the article. All the firms are well-known and have been trusted by millions of customers,

4.    Upstox free demat account

Upstox is backed by some major investors like Ratan Tata, GVK Davix and Kalaari Capital. It is one of the low-cost broking firms which provide investment options in securities like commodities, equities, currency, futures, options, equity.

Features of Upstox account

  1. Free trading and demat account
  2. Zero brokerage charges for the first 30 days from the date of opening the account
  3. Free equity deliveries
  4. Innovative and technology-enabled trading platforms for a website, desktop and mobile for trading as per convenience.
  5. Paperless account opening

5.    Motilal Oswal Free Demat account

Motilal Oswal is one of the best diversified financial firms that offer investment options into a range of financial products to its customers. The company was established in 1987 by Motilal Oswal and Raamdeo Agarwal as a brokerage house.

Features of Motilal Oswal free demat account

●     The company offers demat account with zero annual maintenance charges for a lifetime.

●     Investors can opt for customized investment plans with just a click

●     Investors get wide choices of asset classes for investment

●     The company provides expert analysis with daily, weekly and monthly reports from across the asset classes and provides investment advice to the customers

●     Its dedicated research team works on large-cap and mid-cap stocks

 

 

 

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