Now that you are aware of the advantages of zero-brokerage demat accounts, let’s take a look at a few of India’s leading providers of zero brokerage charges demat accounts:
- Zerodha Zerodha is known for its zero brokerage model and is India’s largest online brokerage firm. All trades made on Zerodha’s platform come with no brokerage fees, but there are other costs like transaction fees and stamp duty fees. Even for those who trade a lot, it’s still a reasonable choice.
- Another well-known zero-brokerage demat account provider in India is Upstox. You won’t have to pay any brokerage fees to trade in the equity and commodity segments with Upstox. The low trading costs more than makeup for the small transaction and AMC fees they charge.
- 5Paisa 5Paisa is a well-known discount brokerage firm whose zero brokerage model is well-known. 5Paisa charges a one-time payment of Rs. 20 per trade, making it an excellent choice for traders with low frequency. As a one-stop shop for all of your requirements, they also provide additional services like mutual fund investments, investment advice, and research reports.
Top Indian Providers of Zero Brokerage Demat Accounts Now that you have made the decision to open a zero brokerage demat account, let’s talk about how to do so:
- Select a Provider Choosing a zero brokerage demat account provider that meets your requirements is the first step. Even though there are a number of choices, you should make sure to do your homework to find the one that best meets your requirements.
- The KYC (Know Your Customer) procedure is the next step. A passport-sized photograph and proof of identity, such as a PAN card, Aadhaar card, or driving license, are required. This procedure can be completed online or in person at the provider’s office.
- E-signature The final step is to use your e-signature to sign the documents online. Your zero brokerage demat account can be used as soon as your documents are verified by the service provider.