Best Demat Account with Zero Brokerage in India: Complete Guide

The Indian stock market has become incredibly accessible over the past few years, and a big reason for that is the emergence of zero brokerage demat accounts. Gone are the days when you had to pay hefty commissions every time you bought or sold shares. Today, several brokers offer trading without charging brokerage fees, making investing affordable for everyone from college students to seasoned traders.

Understanding Zero Brokerage Demat Accounts

Before we dive into specific brokers, let's clarify what zero brokerage actually means. These accounts typically charge no commission on equity delivery trades—meaning when you buy stocks and hold them for investment purposes. This is a game-changer for long-term investors who build portfolios gradually over time.

However, most zero brokerage brokers still charge for intraday trading (buying and selling on the same day) and futures and options trading. They also levy various statutory charges like Securities Transaction Tax, GST, stamp duty, and exchange charges that apply to all brokers regardless of their brokerage model.

The zero brokerage model works because these brokers make money from other sources—transaction charges, margin funding interest, premium subscription plans, and revenue sharing from mutual funds and IPO applications.

Top Zero Brokerage Demat Accounts in India

Let me walk you through the best platforms offering zero brokerage in India right now, along with their unique features and what makes each one stand out.

Zerodha

Zerodha revolutionized Indian stock broking by introducing the discount broker model. While they're not strictly zero brokerage, they charge a flat twenty rupees per executed order for intraday and F&O trades, which is significantly lower than traditional brokers. More importantly, equity delivery trades are completely free of brokerage charges.

What makes Zerodha special is their robust trading platform called Kite, which is arguably the best in India. The interface is clean, fast, and packed with features that both beginners and experienced traders appreciate. Their Coin platform for mutual fund investments is also completely free with no commissions.

Account opening is free, and the annual maintenance charge is three hundred rupees, which is waived if your account balance stays above twenty-five thousand rupees. Zerodha has earned trust through transparency, excellent technology, and reliable customer support.

Upstox

Upstox offers completely free equity delivery trading with zero brokerage charges. For intraday and F&O trades, they charge twenty rupees per executed order, matching Zerodha's model. What sets Upstox apart is their aggressive approach to user acquisition and their focus on mobile-first trading.

Their trading platform is intuitive and beginner-friendly, making it easy for new investors to start their journey. The account opening process is fully digital and usually takes less than 24 hours. Annual maintenance charges are around three hundred rupees, though they frequently run promotions waiving these fees.

Groww

Groww started as a mutual fund platform and expanded into stocks and ETFs, bringing their zero-commission philosophy along. They charge absolutely no brokerage on equity delivery trades, making them ideal for long-term investors building portfolios.

What I love about Groww is their incredibly simple interface. If you're new to investing and find other platforms overwhelming, Groww's clean design will feel refreshing. Everything is explained in simple language without confusing jargon.

Account opening is completely free, and there are no annual maintenance charges, which is rare and highly attractive. For intraday and F&O trading, they charge twenty rupees per order. Groww also offers direct mutual funds with zero commission, US stocks investing, and digital gold—all from a single app.

Angel One (formerly Angel Broking)

Angel One offers zero brokerage on equity delivery trades as part of their commitment to democratizing investing. They've been in the business for decades, bringing traditional brokerage house credibility to the zero brokerage model.

Their trading platforms include both web-based and mobile apps with advanced charting tools, research reports, and market analytics. Angel One provides extensive research and recommendations, which can be valuable if you're still learning how to pick stocks.

Account opening is free, though they charge around two hundred forty rupees annually for demat account maintenance. For intraday and F&O trades, they charge a flat twenty rupees per order. What stands out about Angel One is their comprehensive customer support with physical branches in many cities—helpful if you prefer face-to-face assistance occasionally.

5paisa

5paisa lives up to its name by offering one of the most affordable brokerage structures in India. Equity delivery trades are completely free of brokerage. For intraday trades, they charge just ten rupees per order, which is lower than most competitors.

They offer trading across multiple segments including equity, commodities, currency, and mutual funds. Their trading platform is feature-rich with advanced tools for technical analysis. Account opening is free, and annual maintenance charges are around three hundred rupees.

Dhan

Dhan is a relatively newer player but has quickly gained popularity among serious traders. They offer zero brokerage on equity delivery trades and competitive rates for other segments. What makes Dhan different is their focus on advanced traders with features like options strategy builders and comprehensive analytics.

Their platform is modern, fast, and packed with professional-grade tools. Despite the advanced features, the interface remains intuitive enough for beginners. There are no account opening charges or annual maintenance fees, which is a significant advantage.

Paytm Money

Paytm Money offers zero brokerage on equity delivery trades, leveraging the Paytm ecosystem's massive user base. If you're already using Paytm for payments and other services, having your demat account integrated with it provides convenience.

Their interface is designed for simplicity, making it approachable for first-time investors. Account opening is digital and fast, with no charges. Annual maintenance fees are minimal. Beyond stocks, they offer mutual funds, NPS, digital gold, and US stocks—all from a single app.

What to Look Beyond Zero Brokerage

While zero brokerage is attractive, it shouldn't be your only consideration when choosing a demat account. Let me share what else really matters.

Trading Platform Quality

You'll be using this platform regularly, so it needs to be reliable, fast, and user-friendly. Test the mobile app and web interface before committing. Does it load quickly? Can you place orders easily? Are charts and market data clearly displayed? These everyday usability factors matter more than you might think.

Hidden Charges and Fees

Read the fine print carefully. Some brokers compensate for zero brokerage by charging higher account opening fees, steep annual maintenance charges, or excessive penalties for things like not maintaining minimum balance or failed payment instructions.

Customer Support responsiveness

When you have money locked up in trades or face issues accessing your account, responsive customer support becomes critical. Check if the broker offers multiple support channels—phone, email, chat—and read reviews about how quickly they resolve issues.

Statutory Charges You'll Pay Regardless

Even with zero brokerage, you'll incur certain charges mandated by regulatory authorities and exchanges. Understanding these helps you calculate your actual trading costs.

Securities Transaction Tax (STT) applies to all stock transactions, varying between 0.025% to 0.1% depending on whether you're buying or selling in delivery or intraday. Stamp duty varies by state but is typically around 0.015% on buying trades.

Making the Right Choice

Choosing the best zero brokerage demat account depends on your investing style and needs. For beginners who want simplicity and zero complications, Groww or Paytm Money work wonderfully with their clean interfaces and no annual charges.

If you want advanced features and plan to eventually trade actively, Zerodha or Upstox offer the best balance of technology, reliability, and cost-effectiveness. For those who value traditional broker credibility with modern zero brokerage benefits, Angel One brings decades of experience.

The most important thing is to start investing regularly, even with small amounts. The money you save on brokerage charges through these zero brokerage accounts can significantly compound over time, making a real difference to your wealth creation journey.