Indian stock market has always been a great wealth creator. In fact, if the investment is done correctly it has given manifold returns to the investor. Therefore, if someone is entering the market, he must take small steps initially. In addition, he must learn gradually and understand how the market functions before taking a big position in the market. The primary requirement of investing or trading in the Indian stock market is having a demat account.
Why Demat Account?
DA is just like a bank account that holds shares and securities of an individual just like the bank holds the money. Therefore, opening the best demat account for the beginners is the top priority in the initial stages. Hence, one must list down the preferences and services from the broker. Some of the basic requirements to open demat account for small investor are as follows:
- Education on learning the basics of stock market and trading.
- Lower brokerage rates.
- Investment tips through market research reports.
- Intraday trading tips.
- Easy to use platform with good experience.
There are many brokers in India who provide full service or discount on brokerage rates, etc. In this article, we shall list down the best DA for the beginners who want to start investing in the market. The list contains the names of the few of the popular stock brokers who are known for their good service, client education programs, technological innovation and providing service at economical cost.
Best Demat Account for Beginners and Small Investors
#1 ICICI Direct
ICICI Direct is India’s leading financial service provider. In fact, ICICI Direct provides a wide range of services in the country. The beginners can easily open a demat account with ICICI Direct and start trading. In addition, it provides the clients with 3 in 1 service which enables the beginners to trade and manage funds at a single place.
Thus, it would not be wrong to say that ICICI Direct is the best DA in India. Few of the advantages for the beginners with ICICI Direct are:
- The beginners do not face the problem of transferring funds from the DA to the bank account.
- ICICI Direct is a big brand in itself. It is present across most the cities of the country and has many franchises/sub-broker
- It provides one of the best services with the DA.
- It has a trusted brand name so trust is never an issue.
The ICICI Direct has a client 8,04,429. The complaints percentage 0.01%. The only disadvantage is that it has a high brokerage.
Also LEARN How to Trade in ICICI direct
Zerodha is another leader in providing financial services in India. It was the first brokerage firm that brought the concept of discount broking. In fact, they charge zero charges for equity delivery and fixed brokerage charges of Rs.20 for any transaction of another financial segment. Zerodha is one of the top Demat Account due to the following advantages;
- The beginners in the stock market have to pay lower brokerage charges with Zerodha. They can use the Zerodha calculator to know the charges applicable to the users.
- The starters in the stock market can learn from fellow traders and investors by knowing their views and build a portfolio accordingly.
- The users of Zerodha can learn and understand the stock market basics through comprehensive education repository Zerodha Varsity.
Zerodha has an active client base of 5,76,319. The complaint percentage is as low as 0.01%. The trading platform is good but customer service can be a problem.
Sharekhan is one of the top stockbroking service providers. It allows the beginners to trade in a wide variety of financial segments. In addition, Sharekhan assists the starters in the stock market with numerous research reports, stock tips and market recommendations. Therefore, it can be said that it is the best demat account in India for beginners as it helps them to take a position in the market on the broker’s advice. Few of the advantages of Sharekhan are;
- It provides good research by experts on different segments of the market.
- With high tech trading platform, the trading for beginners is easy and comfortable.
- It has 170+ branches and 2200+ franchise partners across 575 cities of India.
The active client base of Sharekhan is 5,40,487 customers. The complaint percentage is very low at 0.01%. It has a big brand name but brokerage charges are little higher.
Also know about Sharekhan Mini
#4 Angel Broking
Angel Broking is one of the popular broking firms in India. It provides valuable services to the clients in every aspect. In fact, it provides regular market research and tips to the client. Thus, the beginners can make investment according to the advice of the broker. The small investor may open a demat account with Angel Broking due to the following benefits;
- High tech trading platform like Angel Broking mobile app and Angel Speed Pro.
- Automated tips for stocks with ARQ investment engine. This involves no human intervention.
- It is the second best brokerage firm in terms of coverage of the geographical
The active client base of Sharekhan is 3,71,244 customers. The complaint percent is just 0.01%. The biggest advantage with Angel Broking is incredible trading platform while customer service can be a problem.
5Paisa is one the fastest growing brokerage firm in India. It is one of the reliable stockbrokers in the country. The brokerage house has a backing of its parent company, India Infoline (IIFL). Few advantages of 5Paisa are:
- Lower brokerage of Rs.10 per order.
- It gives free research tips and recommendations
- It has a reliable browser application and smooth mobile trading application.
- Annual maintenance charges are nominal.
The active client base of 5Paisa is 40,736. The complaint procedure is 0.02%. Low brokerage is the benefit that beginners can avail. However, customer service can be a problem.
Nifty Trading Academy is one of the leaders in providing stock market education. We have in-house experts that help the beginners in understanding the technical charts of the stocks. We ensure that our client learns the art of chart reading. In fact, the client can make higher intraday profits by taking correct position on the basis of charts. In addition, they can become successful long-term investors. You can reach us via call or email if you have any query. We will be glad to serve you.
I am Hitendra Dixit. I am a civil engineer, at the age of 47 I have changed my profession and came in to stock market. I got excellence award for best share market training institute in India. I provide training in live market, during training sessions I do trade with real money in front of members. Many of my members left their job and became a professional trader with my support and guidance.