Top 5 Apps to Open a Demat Account for Beginners

Have you opened a demat account yet? You are missing out on a lifetime of money-minting opportunities if you haven’t. Real wealth is created only when you tap into the potential of the stock market. Having a demat and trading account is the first step in your financial market gains journey. It allows you to see your money grow in front of your eyes and grow exponentially.

But, it’s not always so easy. You’ll make money only when you time and execute your trades well. This timing is achieved only on a good share market app and trading platforms. An app or trading platform where you can easily check out securities and gather all the relevant info you need from clear and visible dashboards.

So let’s check out which brokerage apps are best for creating a demat account.

Best apps to open a Demat account

With the advent of new players in brokerage account services, participation in the stock market has skyrocketed. These platforms have played a major role in spreading financial literacy among the masses. They have leveraged the rising internet usage in the country to simplify stock market jargon for common people. More importantly, they have simplified the process to start investing directly.

Here are some of the best apps to open a demat account:

1. Angel One

Angel One is a prominent and trusted name in brokerage services. You can invest and trade on the Angel One platform in stocks, F&O, and commodities, and get loans against shares.

• There are over 1 crore users of Angel One in the country.
• The user interface of the Angel One share market app is clear and effective. The UI/UX feature is top-notch and the software is glitch-free.
• Its investment advisory services are highly reputed and the rising number of users is proof of this statement.
• With the Angel iTrade PRIME plan of the brokerage service, you can trade in all segments with a fixed Rs 20 brokerage charge per order.

2. Zerodha

Zerodha’s Kite trading platform regularly features at the top of the brokerage table. The platform is highly user-friendly and most investors have had good experience on the platform. The company is very active on social media and is quick to respond to trading grievances.

• Opening a demat and trading account on Zerodha is quite easy.
• The investment and trading options are diverse.
• The chart features of Zerodha are full of useful tools and indicators and the app layout is beautiful.
• You can invest in equities, mutual funds, and also invest in foreign stocks
• It also has the option of opening minor accounts.

3. Upstox

Upstox is a Tata group-backed brokerage platform known for its wide investment features and user-friendly experience.

• There are over 10 million users on Upstox
• Upstox offers free account opening and maintenance services
• The app layout is super and the intraday trading experience is smooth.
• There are over 100+ charting tools on Upstox.
• Upstox’s newsletters and video explainers are of great help to users.
• Like Zerodha, it can be costly at times. For example, you get charged an extra Rs 20 for your executed order if you don’t square it off. The demat transaction charges are also quite high for the Basic Plan.

4. 5Paisa

5Paisa is a fast-growing brokerage firm in India. It has carved a niche for itself in what is a tough and saturated market with its highly competitive pricing.

• You get intraday trading tips, quality bite-sized equity research information, and portfolio advisory services on 5Paisa.
• It has a 20-rupee flat brokerage charge for all segments. The lowest brokerage charge is just Rs. 10 and there’s zero charge on equity delivery.
• Investment and trading products on the platform is diverse. You can apply for IPOs, start an equity SIP plan, and even buy US stocks on the platform.

5. Groww

Groww is now a leading firm in the brokerage segment.

• The platform is highly easy to operate and the account opening is hassle-free.
• Groww’s user interface is lucid and makes it smooth to navigate.
• You can invest in a wide range of products including stocks, IPOs, ETFs, mutual funds, and even gold.
• The research reports of Groww are immensely useful to investors and their advice has proven actionable in hindsight. Although the quality is inconsistent.
• It is good for beginners and more suited for those who have a lesser risk appetite. Its mutual funds segment is one of the most popular out there.

Key Takeaway

When you are opening a demat account, you should look for more than user-friendliness. There are apps that have great UI/UX features but lack depth in research and have high brokerage charges. Take the brokerage charges into consideration but don’t get too attached to the cost. The best brokerage app is a combination of good software features and decent pricing.