Demat & Brokerage Comparison
Compare pricing, delivery fees, intraday charges, and annual maintenance charges (AMC) of India's leading discount brokers.
Zerodha
Discount BrokerGroww
Discount BrokerAngel One
Discount BrokerFrequently Asked Questions
What is a Demat account and why is it required?
A Demat (Dematerialized) account operates like an electronic wallet, holding financial securities such as shares, ETFs, bonds, and mutual funds digitally. It is a regulatory mandate under SEBI to possess a Demat account to buy and hold equities in the Indian capital markets.
What is the difference between delivery and intraday brokerage?
Delivery trading involves buying shares and holding them in your Demat account overnight, weeks, or years. Intraday trading involves buying and selling shares within the same trading session before market close. Discount brokers typically charge ₹0 (Free) for equity delivery and a flat ₹20 or 0.03% to 0.05% for intraday trades.
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Why Your Broker Choice Can Cost You Lakhs Over a Lifetime
A 1% difference in annual charges on a 20-year, ₹50 lakh portfolio costs you over ₹28 lakhs in lost compounding. This is why the broker you choose — and the charges they levy — matters far more than most investors realise.
India's discount broker revolution (Zerodha, Groww, Angel One, Upstox) has democratised investing with zero or flat-fee brokerage structures. But the fee structures differ significantly: some charge ₹20/trade flat for F&O, others charge per contract, some charge AMC on demat accounts, and others don't.
For long-term equity and mutual fund investors, the most important consideration is zero delivery brokerage (most major brokers now offer this for delivery equity trades), fund platform fees (direct mutual funds through platforms like Kuvera are free; regular plans through bank portals cost you 1–2% in commissions), and demat AMC charges (₹0–750/year depending on the broker).
If you're actively trading — intraday, F&O — the per-trade brokerage model matters significantly. A high-frequency trader on a flat-fee broker saves enormously over a commission-percentage broker. Run the comparison before opening your account, not after.
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