Who doesn’t like freebies? For a trader, if you get to open a free demat account, wouldn’t that bring a big smile to your face. So here comes a question Is Your Demat Account Free? Well, before we answer that, let’s understand some of the basic aspects of a Demat account.
If you are new to the stock market and looking to open a free demat account, then, it is very important to open your account with the stockbroker such as Motilal Oswal who not only gives good service but also offers you a good deal in terms of costs.
Demat Account for Free
Indian Stock Market is known to be one of the prominent ones in the overall Global financial eco-system. In fact, BSE (Bombay Stock Exchange) ranks at position 10 and NSE (National Stock Exchange) at 11 in the overall world rankings.
Thus, with such promising standings, investing and trading on these indices is a profitable bet.
You need to open a Demat account before you start investing or trading on either of these indices but before we get into that, here is a glimpse on some of the basics:
In general, a demat account is an electronic repository where you can hold stocks, bonds, mutual funds, and your securities as well.
So, your Demat account is a locker where you can store your financial instruments with the Depository Participant that is licensed with the top DPs NSDL and CDSL.
Many brokers in the Indian stock market offer the option of opening a free demat account along with a free trading account.
Although they might offer you an online free demat account it does not mean that there are absolutely no costs related to it. Most of the brokers charge an annual maintenance fee or AMC for the account.
Also, there are different brokerages charged by them on different kinds of trades. It is essential to look at all the costs and services provided by any broker before making any decision.
When we make any transactions, some taxes need to be paid which are common for any brokerage firm (trading platform) we are using.
For example, Securities Transaction tax and commodities transaction tax. Also, GST is 18% off (brokerage + taxes). Therefore, GST is more on those accounts where brokerages are more.
When it comes to opening the Demat Account, a lot of questions arise, for that, you should know about Demat Account Types, which will help you to invest according to your ease that offers to attract almost every other who want to invest in the stock market.
So, if you are one among the crowd looking ahead to plan a long-term investment then it is good to get started by online free demat account opening.
Be a smart investor right from the beginning and avail the best services and trading experience by getting into the trade for FREE.
However, for opening the Demat Account you have to pay certain fees of charges like:
But many top brokers can help you to open Demat accounts for free.
Wondering how to open a free Demat account? Well! we understand your curiosity and here we are with the complete details and list of brokers who can offer you the best services and the benefit of a free Demat account in India.
Although for all the stockbrokers, you need to submit certain documents like Aadhar card, PAN card, Bank details, etc. Make sure you have all the essential documents.
So, if you are a resident of India that you can reach a broker to avail of account opening services to trade in different segments like equity, commodities, currency, etc.
The best part is you can open a free Demat account, thus you do not have to pay any charges for opening the account.
In general, other than the account opening charges, the broker usually charges additional fees like AMC charges, custodian fees, and transaction fees.
Although many brokers offer zero AMC charges for the first year and charge the sum of ₹400 from the second year onwards.
Apart from this if you are willing to get into the trade with Motilal Oswal by opening a Free Demat account with the broker, you would learn about the benefits and the brokerage charged by the firm.
Since there are different segments in which you get a chance to trade with the broker, here is the charges against each type:
Equity Delivery: 0.50%
Equity Intraday: 0.50%
Equity Futures: 0.50%
Equity Options: ₹100 per lot
Currency Futures: ₹20 per lot
Currency Options: ₹20 per lot
Commodity Futures: 0.50%
Along with this basic brokerage plan, the broker offers some value pack that helps you to trade at a minimal price.
Motilal Oswal Value Pack (VP2KLT): Under this plan, you would be able to reap the leverage of 0.10% i.e. has to pay 0.40% to trade in the Equity segment. Along with this, it charges ₹50 per lot to trade in Options and ₹22 per lot for currency trading.
Equity Delivery: 0.40%
Equity Intraday: 0.04%
Equity Futures: 0.04%
Currency Futures: ₹22 per lot
Commodity Futures: 0.04%
To reap the benefit of this plan, the trader has to pay the one-time fee of ₹2000 to the broker.
Motilal Oswal Value Pack (VP1LACLT): Here comes another plan where if you pay the one-time sum of ₹1,00,000 to the broker then you would be able to get a huge discount in the brokerage charges in different segments.
India Infoline, another top full-service stockbroker that offers you the provision to open the Free Demat Account.
The firm is known for offering different services including brokerage services at minimal brokerage charges. Opening an account with the firm opens a gateway to trade in different IIFL Products like Equity, Derivatives, Mutual Funds, IPO, Bond, NCD, etc.
You can reap the leverage to open the Free Demat Account and get into the trade by choosing any one of the brokerage plans offered by the firm.
Along with the zero account opening fees, you can enjoy the Zero AMC Charges for the first year and can use your single Demat Account for the different kind of investment options offered by the firm.
Here are the different brokerage plans offered by the firm:
IIFL Standard Trading Plan: Among many brokerage plans, the first plan involves the basic charges. Here the investor has to pay 0.5% for the Equity Delivery, and 0.05% for the Equity Intraday or Futures.
Equity Delivery: 0.5% or 50 Paisa
Equity Intraday: 0.05% or 5 Paisa
Equity Futures: 0.05% or 5 Paisa
Equity Options: 1% of Premium or ₹ 100 Per Lot whichever is higher
Currency Futures: 0.05% or 5 Paisa
Currency Options: 1% of Premium or ₹100 per lot whichever is high
Commodity: 0.05% or 5 Paisa
IIFL Variable Brokerage Plan: Along with the standard plan, the broker comes with other options like the variable brokerage plan, applicable under certain terms and conditions. Here the charges are not fixed and so you have to plan according to the trade you do.
Equity Delivery: 0.15% to 0.60%
Equity Intraday: 0.02% to 0.05%
Equity Futures: 0.02% to 0.05%
Equity Options: 1% to 2.5% of premium or ₹100 per lot
Commodity Futures: 0.02% to 0.05%
Commodity Options: 1% to 2.5% of premium or ₹100 per lot whichever is higher
IIFL Advanced Brokerage Plan: To reap the advantage of the advanced brokerage level of it is mandatory to pay the monthly fees of ₹5000 to ₹10000. This offers you some sort of relaxation from paying charges every time you trade in a particular segment.
Monthly Fees: ₹5000 to ₹10,000
Equity Delivery: 0.35% to 0.05%
Equity Intraday: 0.04% to 0.01%
Equity Futures: 0.04% to 0.01%
Equity Options: 1% of Premium to Flat ₹20 per lot
Currency Futures: 0.04% to 0.01%
Currency Options: 1% of Premium to the Flat ₹20 per lot
Commodity Futures: 0.04% to 0.01%
Commodity Options: 1% of Premium to flat ₹20 per lot
Analyzing these brokerage charges, IIFL can be considered as a discount broker that offers full-service broker facilities at a discounted price.
ICICI Direct is a retail trading and investment service from ICICI Securities, the largest retail stockbroker firm in India (in terms of the active client base).
They offer investment products such as Online Equity Trading, Derivatives Trading, Mutual Fund & IPO, Fixed Deposit, Bond, NCD, wealth products, etc.
They give you an option of a free demat account with just a ₹100 charge for Agreement Stamp Paper. The annual maintenance charge for the demat account is ₹500. For the first year, they do not charge any annual maintenance charges for the 3-in-1 account.
They offer 3-in-1 accounts that integrate banking, broking, and demat accounts. However, ICICI Direct doesn’t offer commodity trading.
They offer two types of brokerage plans to their customers:
I- Secure Plan (Flat brokerage Plan):Under this plan, a flat brokerage is offered in percentage irrespective of the turnover value. This plan is suitable for traders/investors looking at a secured and fixed brokerage. For equity delivery, their brokerage is 0.55%.
The minimum brokerage for transactions up to ₹6364 on stocks quoting more than ₹10 is ₹35 per trade or 2.5% of the trade value whichever is lower.
Brokerage rates as mentioned above will be charged for trade value exceeding ₹6364.
I-Saver Plan (Variable brokerage plan): Under this plan, the brokerage is offered based on the trading volume i.e. high brokerage for low volume and low brokerage for high volume traders.
This plan is suitable for traders/investors who trade in high volumes so that they can benefit from the low brokerage. Their brokerage charges for equity delivery vary like mentioned in the table below.
Similarly, their brokerage charges for intraday square off also vary with the turnover.
Now open a Free Demat Account with SAMCO, and experience the trade in different segments including Futures, Options, Commodities at ₹20 per order.
Along with this the broker offers you the 4x delivery leverage in the Cash Markets, offer margin that helps you to trade with Zero Cash balance.
So open the Demat Account with SAMCO for FREE and reap the facility of delivery of shares without any hassle. The broker offers the 2-in-1 account thus you can avail the leverage to have a demat and trading account in one fold.
Apart from this, if you are planning to open the SAMCO Demat Account then it is good to have a quick glance at the brokerage plan of the firm.
Equity Delivery: 0.20% or ₹20 per trade whichever is lower
Equity Intraday: 0.02% or ₹20 per trade whichever is lower
Equity Futures: 0.02% or ₹20 per trade whichever is lower
Equity Options: 0.02% or ₹20 per trade whichever is lower
Currency Futures: 0.02% or ₹20 per trade whichever is lower
Currency Options: 0.02% or ₹20 per trade whichever is lower
Commodity: 0.02% or ₹20 per trade whichever is lower
Along with these, there are certain government charges like GST and transaction charges applicable for all the segments
If you wish to start trading with SAMCO, then get a callback from SAMCO.
Geojit Free Demat Account
Geojit is a leading investment services company in India. They also open a free demat account for you. Brokerages charged by them are as follows:
Delivery-based Trading – 0.3 %
Intraday Trading – 0.03 %
Futures & Options
Futures – 0.03 %
Intraday Options – ₹125 per contract
Options carry forwarding positions – ₹150 per contract
These rates are subject to minimum brokerage provision. That is ₹20 per contract or 1 paisa per share whichever is higher subject to a maximum of 2.5% per share.
Free Demat Account Sharekhan
Sharekhan is one of the largest brokerage firms in India. It offers its services to all kinds of customers including individual investors and traders, corporate, institutional, and NRI’s.
They also give free demat account opening options to their customers.
Sharekhan offers trade execution facilities for equity cash and derivatives segments on BSE and NSE, commodities trading facilities on MCX and NCDEX.
Sharekhan Demat Account and the option to invest in mutual funds and IPOs. Services offered by Sharekhan also include trading in commodities and investment in IPO’s, Mutual Funds, Insurance, Bonds, and NCDs.
They have different plans for their customers based on the amounts they want to invest apart from providing trading platforms such as Sharekhan Mini, Sharekhan Trade Tiger, etc.
For Intraday Trading – 0.1% on the buy-side and 0.1% on the sell-side or 5 paise per share (whichever is higher)
For Delivery Based Trades – 0.5% or 10 paise per share or ₹16 per scrip whichever is higher.
F&O Trades: 0.1% on the first leg and 0.02% on the second leg if squared off on the same day and 0.1% if squared off on any other day
Options Trades: ₹100 per contract or 2.5% on the premium (whichever is higher)
Currency Future: 0.1%
Currency Options: ₹30 per lot or 2.5% on the premium (whichever is higher)
Free Demat Account 5 Paisa
This is one of the most reputed brokerage firms in India. This brokerage firm not only offers a free demat account opening option but also a flat fee of ₹10 on any transaction in equity, futures & options and currency segments irrespective of the amount invested.
More details about different services and charges of all the brokerage firms can be found out either on their websites or simply by giving a call to their offices. They may offer discounts to their customers.
Therefore, it is recommended to talk to them about their services and charges before making a decision to open a demat and trading account with them.
The broker has come up with Angel iTrade plan where you need to ₹15 per trade if your trade size is less than or equal to ₹50,000. At the same time, if your trade value exceeds ₹50,000, then the brokerage charged is ₹30 per trade.
There are four different types of accounts that can be opened with Angel Broking. The annual maintenance charges are different for every account. The different costs involved with every account is as follows:
Angel Classic account– This account is good for beginners. Initially, an investor has to deposit a sum of ₹10000 which will be used by him/her for trading. Brokerage costs for different kinds of trading:
online equity trading – 0.32%
offline equity trading – 0.40%
online equity intraday trade/futures – 0.032%
offline equity intraday trade/futures – 0.04%
Angel Preferred account – Initial minimum amount to be invested – ₹25000. Its Brokerage costs are
online equity trading – 0.224%
offline equity trading – 0.28%
Angel Premier account – Initial amount to be invested – ₹50000 to ₹99999. Its Brokerage costs are:
Online equity delivery – 0.176%
Intraday trading – 0.0176%
Angel Elite account – The customers of this account pay the least brokerage as their initial amount to be invested is highest i.e. ₹1 lakh and above.
Other than the above-mentioned stock brokers free demat account, you can also know about the SMC Free Demat Account Details. Choose the stockbroker according to your preferences and requirements.
Many investors usually remain concerned about paying the annual charges to keep their accounts active. These charges usually vary from broker to broker and range from ₹400 to ₹700 or more.
However, the broker offers relaxation to pay these charges at the time of account opening i.e. for the first year. But it is essential to pay from the second year onwards. Thus, you can have a free demat account with AMC.
But there is another way round, where you can just learn about the schemes offers by the broker in which you can prevent yourself from paying the Annual charges as well.
By paying the one-time fees, you can get the relaxation from paying the AMC charges for the upcoming years and thus can have a lifetime free demat account without AMC.
Lifetime Free Demat Account
As the name suggests, here not only you can open the free trading and demat account with a low brokerage but can get the benefit and relaxation from paying the Annual Maintenance Charges.
To open the Demat account free of cost without AMC you just have to go through various schemes offered by the broker. Different brokers come up with different plans. You can choose the one that gives you maximum benefits at a minimal cost.
Some of the brokers that offer you the free demat account for a lifetime are:
Motilal Oswal, IIFL Securities, etc.
Free Demat Account App
Not only the free demat and trading account, but these brokers also tend to offer you the hassle-free experience of trading by offering you the Free Demat Account App.
Almost all these apps include heat maps and charts pattern that helps you to plan the stocks for long term investment and short term trade as well. Along with this, you can directly trade in particular stocks.
Along with this, the full-service stockbroker provides you with the research tips and ideas that further help you to know the right time to enter and exit.
In all, choosing the right broker offers you the app and other trading platforms for free that helps you to gain a good trading experience over time.
You can access various Demat Account features of the app by login as a guest user, if available. After analyzing the app, you can then take the decision and pick the best broker with whom you can open the share market free demat account.
Some of the Free Demat Account app offered by top brokers of India are: