One of the most asked question on this blog is “Tell me who is the best broker in India” and that is very difficult question to answer. For example if someone ask you ” Tell me which is the best bank”, can you tell him 1 bank which is the best. The best answer you can give is ” IT DEPENDS, on what you are looking for in a Bank. If someone is looking for best online service, one set of bank will be good for him(maybe ICICI, AXIS). But if someone is looking for many physical locations, another bank will fit him needs(SBI, Bank of Baroda). [Read more…]
Before we tell you which is the Best Demat account in India, I would try to explain what DEMAT account mean.Demat is the shorter version of word Dematerialized account, which just means that the stock are in electronic form rather than in material (paper) form. You can think of Demat account as a safe for keeping electronics share.
Demat services are provided in India by just two Depositories namely
Both are them are approved by SEBI. The important thing to understand is that you broker will become a part of one of the Depository and would be known as Depository participant (DP). Brokers cannot legally hold your stock and they have to maintain them with one of the Depositaries. But as a client, your broker manages your relationship with CDSL/NSDL and you never need to worry about it. So when you open trading account with your broker, they will also open your Demat account with one of the Depository.
You would think that the charges of all the DP would be same but that is not so and each DP could charge as it deems fit. Just so that you understand fully, you cannot trade if you just have a DEMAT account, you need a trading account with one of the brokers to trade. The DEMAT account would come in picture only when you take a delivery of the stock. In case you are day trading or trading in F&O, you don’t even need Demat account.
Demat charges are generally very small and wouldn’t affect you much in the long term. Most of the brokers charges anywhere from Rs 300 – Rs 600 AMC for managing the Demat account. It is much more important to choose a broker which have a lower brokerage than a lower AMC charge as AMC is more of a fixed cost irrespective of the number of stocks you keep, while broking charges is applied on every trading you do.
I have tried to provide rates of some of the main brokers in India and charges for their DEMAT account opening. Do remember that there is a Annual maintenance charge associated with maintaining the account. It is generally in a range of Rs 300 – Rs 600.
Zerodha Demat account charges
AMC charges for first year is FREE. From second year, there is an AMC charge of Rs 300 per year.
Angel Demat Account Charges
Account Opening – Free
Annual maintainence charge for Demat account – Rs 450
Upstox Demat account charges
Annual maintenance charge (AMC) for the first year towards your demat account of Rs.400/ and AMC of Rs 350.
ICICI Demat Account Charges
NSDL – A/C opening NIL, Rs.600 ( Rs.500 for customers receiving email statements)
CDSL – A/C opening NIL, Rs.600 ( Rs.500 for customers receiving email statements)
One more question which lots of reader have is whether an individual can have more than 1 Demat account. The simple answer is Yes, you can have as many Demat account as you want. There is no limit on number of accounts. But remember the more Demat account you have the more yearly maintenance charge would be payable by you.
So we would advise you to try to consolidate all your Demat holding in one Demat account. In case you still have some questions, please ask it below so that other may also benefit from it.
You can find more detailed information about opening of Demat account here
ProStocks is the newest entrant in the discount broker segment in India. The company offers low cost flat fee trading plans to stock market investors and is one of the few broker who are providing unlimited monthly and yearly trading plans to its customer. They also offer a fixed brokerage plan of Rs 15 per traded order.
ProStocks is popular for its flat monthly trading plans. The plan includes Rs 899 per month trading plans which offers unlimited equity and equity derivatives trading at NSE or BSE. ProStocks also offer Rs 499 monthly trading plan for unlimited monthly trading in currency derivatives trading.
ProStocks also provide most advanced trading platform to the investor. This includes a website for trading, mobile app and a trading terminal for high frequency traders. All trading software and tools are available for free of charge and you will get access of them once you open account with them. [Read more…]
SMC was established in 1994 and is a diversified financial company offering brokerage service across segments ( Equity, Commodity, F&O and currency). Apart from that it also provide wealth management services, DP service and research service. Here we will be discussing mainly the brokerage product and service it is providing to retail customer and various product which it uses to provide it. It provide these services under SMC trade online. They have a huge network of 65 branches and 2400 brokers. So most probably you should be able to find then operating in your city.
SMC is a full service broker and provide all the financial service any retail client would ever need. There charge brokerage as a percentage of traded volume compared to discount broker which charge a fixed brokerage per trade.
Account opening charges
The account opening charges and brokerage are as follows
Zerodha is India’s first and largest online discount broker operating from 2009. It was started by Mr Nithin Kamath who was himself a trader before starting Zerodha. Besides low cost which most of the discount Brokers are known for, Zerodha is also credited for its technology initiatives which it brings first to the markets.
Zerodha trading software
Desktop Based Trading: Zerodha has finally in July 2015 released its next generation platform called ‘Pi’ which was long awaited. This is one of the most advanced charting software provided by any broker in India and best thing it is free of cost to all the clients who open account with them. In Pi you can view up to 50,000 candles, various chart types, over 70 indicators, inbuilt strategies and can even create your own strategies; back test them, trading directly from chart, quick order entry screen with many more options. Here are few screenshot of their awesome platform
Traditionally in India share brokers used to charge a certain percentage value of trade(for ex. ICICIdirect charges .5% for delivery based trading) . So if you were a trader or a large investor, you ended up paying a huge brokerage on your transaction. Most of the trader and large investor ended up paying brokerage worth lakhs of rupees. These type of brokers are know as traditional or full service brokers. Most of the retail investor were also using them for trading needs as these brokers where mostly linked with your bank like ICICIdirect with ICICI bank and it was very easy to open and manage account with them.
But in last few years, [Read more…]
Fyers is a discount broker and have in-house trading platforms. They are the newest entrant in discount brokerage area and were incorporated in 2015. They are a Bangalore based firm. FYERS stands for”Focus Your Energy & Reform the Self”. They are a technology oriented stock broking firm and promote themselves as someone having
the best and cutting edge trading platform. They are the member of NSE and provide full fledged Demat service through NSDL & CDSL. Currently Fyers provides online broking services in NSE Cash, NSE FNO, NSE Currency derivatives and commodities.
Having a Mobile trading app has become a requirement for any major stock broker in India. With the advancement of technology, mobile is becoming part of everyone life and helping people to be connected, all the time.
Today, nearly every online broker has launched or planning to launch a mobile app, which is no surprise as it is expected that more than 30% of user are accessing internet from their smartphone and this number is expected to go even higher.
How big is mobile trading in India ?
India has become the world’s fastest growing market for mobile based stock trading since its launch in 2010. As of August 2015, the total trading volume on mobile phone is of the tune of Rs 116,186 crore and is [Read more…]
With the new trading platforms coming to India, Indian traders and investor have a choice to choose the best trading platform which matches there needs. Before deciding on the trading platform, the trader should be very clear about there needs and if the system they are buying will fulfill there needs. Just to give you some example. for some technical traders charting is the most important feature in the platform while for some it may be market calls or bulk order facility. [Read more…]
SAS online discount brokerage firm offers brokerage services for stocks, future and options on NSE, BSE and MCX. They call themselves a venture started “by traders for traders. They provide very competitive brokerage rate of just Rs. 9 per executed order or unlimited monthly plan for just Rs. 999! This is by far the cheapest brokerage rate provided by any brokers in India.
Just to give you an example of how competitive these rates are for example :You place a ‘buy’ order for 1000 Reliance share and it get completed it takes 10 trades until the whole 1000 are bought. However, , irrespective of how many trades it takes to complete the order, you will be charged a flat brokerage rate of Rs 9.
Apart from this they also provide a “999 unlimited monthly plan” which gives you a break from having to pay brokerages every time you trade . Using this you can Trade unlimited across NSE cash, BSE Cash and NSE F&O with zero brokerage costs. MCX and Currency can also be traded using this plan. They are one of the few broker who are still providing unlimited trading platform to there clients.
Account Opening Charges
1. Account Opening (Trading) – Rs 200
Annual Maintenance Charges for Demat – Nil
They have taken NSDL membership and would be providing the services at ZERO AMC.
* It is not mandatory to open a DP Account with us for delivery based trading. In case you already have one, you don’t need to open one.
3. DP Charges – Rs 9 + CDSL Charges
4. STT, Service Tax, NSE Turnover and Transaction Charges, SEBI charges are all as applicable market-wide.
a. Intraday Margins for Cash: upto 20 times for F&O stocks
b. Intraday Margins for Equity Futures: 5 times over and above the exchange margin
For holding Equity Futures overnight, exchange stipulated margins are required.
c. Margins for Currency Futures: 50 % of the total margin (SPAN + ELM) as per exchange.
*100% premium amount required for buying options
SAS NEST trader – State of the art online trading platform so you can make the most of the opportunities in today’s market. NSE NOW is one of the fastest, reliable and user-friendly platforms available in the country today. Servers are co-located inside NSE thus ensuring tick by tick rate updates and quick order routing. Most of the discount brokers use this to provide seamless trading experience to brokers. You have to download this on your PC to use NEST trader.
SAS web platform – HTML 5 trading platform which works on almost all the modern day browser. No need to install anything and trade on the browser.
SAS Mobile trader – SAS provide access to your account through your there mobile app. You can check your portfolio and also trade on the move using this.
Funds can be transferred through payment gateway, net banking, NEFT, RTGS and Cheque. Details of our bank account are available on the website for the purpose. Funds must be transferred through your bank accounts registered with us. A payout can be requested through back office or email. All payout requests will be processed by the end of that trading day.
Payin Option with SAS online
Instant transfer: One you have linked your bank account with the trading account, you can transfer the money instantly from Bank account to your trading account. It is instant fund transfer and there is a small charge of Rs 9 per transaction
NEFT/RTGS: Not interested in instant transfer. Then you can choose transfer through NEFT or RTGS. In case you are using NEFT, you can only trade once the money in received by them which can take couple of hours to happen. RTGS is instant fund transfer but there is a minimum limit of Rs 2 lakh and above only. You have to do the RTGS/NEFT to SAS online HDFC bank account details on which can be found on their website.
Cheque deposit: The least complicated way to transfer money is by cheque deposit. The only issue being check deposit can take upto 48 hrs to show in your account. So if you are not in hurry
Online Back Office
The Back Office system allows you to view your trading activity since you joined SAS. At the end of each day, your trading activity is uploaded from NSE NOW to your account for your perusal. You can Use this data to understand your historical trading activity, file tax returns, and other accounting purposes.
SAS online does have the lowest brokerage but they provide NEST trading platform which is not that great. To find about the lowest brokerage having best service, read our post on Lowest brokerage account in India.
You can know more about the main discount broker in India here.