Looking for the best demat account in India? Here's the stock broker comparison that actually matters before you open one — account opening, annual maintenance, and per-order brokerage — side by side, plus how to open a demat account online and the documents you'll need.
Charges last checked: September 2026. Brokers revise pricing without much notice — always confirm on the broker's own site before opening an account.
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| Zerodha | Groww | Upstox | Angel One | Dhan | |
|---|---|---|---|---|---|
| ACCOUNT OPENING | Free | ₹0 | ₹0 | ₹0 | ₹0 |
| ANNUAL MAINTENANCE (AMC) | ~₹300/year | ₹0 | ₹0 | ₹240/year (often waived year 1) | ₹0 (lifetime zero AMC) |
| EQUITY DELIVERY | ₹0 | ₹20 or 0.05%/order, whichever lower | ₹20 or 0.05%/order, whichever lower | ₹0 | ₹0 |
| INTRADAY / F&O | ₹20 or 0.03%/order, whichever lower | ₹20 flat/order | ₹20 flat/order | ₹20 or 0.03%/order, whichever lower | ₹20 or 0.03%/order, whichever lower (₹10 for women customers) |
| PLATFORM | Kite + Console | Groww app | Upstox Pro | Angel One SuperApp | Dhan app + Options Trader, TradingView charts built in |
| Open Account → | Open Account → | Open Account → | Open Account → | Open Account → |
These are plain links to each broker's own signup page — not affiliate links. All five also charge statutory costs on top of brokerage (STT, exchange transaction charges, 18% GST on brokerage + exchange charges, and stamp duty) — those are the same across brokers since they're set by the government and exchanges, not the broker. Dhan also charges a flat ₹12.5 DP (depository participant) charge per scrip on the sell side of equity delivery trades — a CDSL/NSDL pass-through, not brokerage, and common across most brokers though not always itemised the same way.
Free equity delivery and India's most-used trading platform (Kite), with the deepest charting and reporting tools (Console, Sensibull integration). The ~₹300 AMC is a non-issue if you trade more than occasionally. Best if you want the most mature platform and trade delivery often.
Zero AMC and a genuinely simple app — popular as a first broker, especially among people who came in through Groww's mutual fund app. Delivery isn't free like Zerodha's, but for small, infrequent trades the difference is marginal. Best for beginners who want one app for stocks and mutual funds.
Zero AMC, backed by Tiger Global/RKSV, with a clean charting-first interface (Upstox Pro) that traders who like TradingView-style charts tend to prefer. Pricing is close to Groww's. Best if you want a chart-forward app without Zerodha's AMC.
Free equity delivery like Zerodha, plus research and advisory features (Angel One is also SEBI-registered as a full-service broker, not just a discount broker) bundled into the app. AMC is usually waived in year one. Best if you want free delivery trades plus in-app research/advisory, not just charting.
Free equity delivery and lifetime-zero AMC like Angel One, but built specifically around F&O traders — option chain analytics, one-tap option buying (Flash Trade), a dedicated Options Trader app, and free TradingView charting built in. Also offers a 50% brokerage discount for women traders. Best if you trade options actively and want a charting/execution-first app without Zerodha's AMC.
The account opening process is near-identical across Zerodha, Groww, Upstox, Angel One and Dhan — it's fully online (paperless, via Aadhaar e-sign) and usually takes 15–30 minutes if your documents are ready.
Enter your mobile number and email on the broker's app or site (see the "Open Account" links above) and verify both with an OTP.
Enter your PAN and complete Aadhaar-based e-KYC — this is what makes the account fully digital, no physical paperwork to courier.
Link your bank account and upload the documents listed below for identity, address and income proof.
e-Sign the account agreement with your Aadhaar OTP and complete a short video-based In-Person Verification (IPV) call.
Documents required for a demat account: PAN card, Aadhaar (linked to your mobile number for e-sign), a cancelled cheque or bank statement for bank proof, a passport-size photo, and — for F&O trading — an income proof (bank statement, salary slip or ITR) or a signed income/net-worth declaration, since exchanges require it before activating derivatives segments.
There's no single "best" — it depends on what you value. Groww is the most beginner-friendly for someone who wants one simple app for stocks and mutual funds; Zerodha suits beginners planning to trade delivery often and want the most mature platform; Angel One and Dhan suit beginners who want free equity delivery from day one. See "Who each one actually suits" above for the full breakdown.
Sign up on the broker's app with your mobile and email, complete Aadhaar-based e-KYC, upload your documents, link your bank account, then e-sign and complete a video IPV call — see the step-by-step above. It's fully paperless with all five brokers.
PAN card, Aadhaar, a cancelled cheque or bank statement, and a passport-size photo, at minimum. Trading in F&O additionally requires income proof or a signed income/net-worth declaration.