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India now has over 19 crore demat accounts — but choosing the wrong broker can cost you money in unnecessary charges and poor platform experience. This guide compares the three most popular discount brokers in India — Zerodha, Upstox and Angel One — on the metrics that actually matter: charges, platform quality and who each broker is best for.
Quick Answer
Quick AnswerWhich is the best demat account in India in 2026? Zerodha is best for simplicity and reliability (Kite platform, Rs 300 AMC). Upstox is best for a modern, feature-rich experience (3-in-1 account, Rs 300 AMC). Angel One is best for investors who want research and advisory tools plus NRI trading support (Rs 240 AMC). All three charge zero brokerage on delivery trades and Rs 20 per order for intraday/F&O.
Zerodha does not have a formal affiliate programme. Angel One and Upstox run partner programmes — affiliate links above go to their respective partner portals.
Answer Engine Summary
Zerodha, Upstox and Angel One are India's three largest discount brokers. All charge zero delivery brokerage and Rs 20/order for intraday. Zerodha (Kite) leads in simplicity; Upstox offers a 3-in-1 account and modern UI; Angel One adds research and advisory tools. AMC varies: Rs 240 (Angel One) vs Rs 300 (Zerodha, Upstox). Best choice depends on your trading style and need for guidance.
Last updated: 12 July 2026
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Brokerage and Charges Comparison
All three brokers follow the discount brokerage model — zero commission on delivery trades and a flat Rs 20 per order (or 0.03% whichever is lower) for intraday and futures and options trading. The differences show up in annual maintenance charges and other fees.
Zerodha charges Rs 300 per annum as AMC for the demat account (free for the first year). Upstox also charges Rs 300 per annum AMC (free for the first year). Angel One charges Rs 240 per annum for the demat account — slightly lower, and it does not waive the first year.
Key additional charges to watch: all three charge Securities Transaction Tax (STT) and SEBI turnover charges as pass-through. Zerodha charges Rs 50 per pledge/unpledge for margin against securities; Upstox charges a flat Rs 20; Angel One charges Rs 25. For active traders, these small differences add up over time.
- Delivery brokerage: Rs 0 — all three brokers.
- Intraday / F&O brokerage: Rs 20 per order (or 0.03%, whichever is lower) — all three.
- Demat AMC: Zerodha Rs 300/year (free yr 1) | Upstox Rs 300/year (free yr 1) | Angel One Rs 240/year.
- Account type: Zerodha 2-in-1 (trading + demat) | Upstox 3-in-1 (trading + demat + savings) | Angel One 2-in-1.
Platform and App Experience
Zerodha's Kite platform — available as a web app and mobile app — is widely regarded as the benchmark for clean UI in Indian broking. Charts are powered by TradingView, order execution is fast, and the interface is uncluttered. Zerodha also offers Coin for direct mutual fund investing (zero commission) and Varsity, a free financial education platform.
Upstox's Pro Web and Pro Mobile apps have undergone significant redesign over the last two years and now rival Kite in speed and feature set. Upstox offers a genuine 3-in-1 account linking a bank savings account with the trading and demat account — useful for investors who want all-in-one cash management. The platform has built-in options analytics tools that appeal to F&O traders.
Angel One's Angel One app (previously AngelBroking) includes built-in research reports, stock screeners and advisory features powered by ARQ Prime, their AI-based system. This makes Angel One more suitable for investors who want recommendations alongside trading — a differentiator vs Zerodha and Upstox which are self-directed platforms.
- Zerodha Kite: cleanest UI, TradingView charts, reliable execution, Coin for MFs.
- Upstox Pro: 3-in-1 account, strong F&O tools, modern redesigned interface.
- Angel One: built-in research, advisory (ARQ Prime), NRI trading support.
Who Should Choose Which Broker
Choosing the right broker depends on what you actually do with your demat account. For buy-and-hold investors who just want to buy mutual funds and stocks and forget it, Zerodha is the safest and most reliable choice with the largest user base (over 7 million clients) and proven uptime.
For active traders who want a modern interface with options analytics, margin pledging and a 3-in-1 bank linkage, Upstox is the better pick in 2026. It has closed the UX gap with Zerodha significantly.
For investors who are new to the market and want some hand-holding through research and advisory features — or for NRIs who need NRI trading support (which Zerodha and Upstox do not offer) — Angel One is the recommended option. Angel One supports NRI trading accounts, a significant differentiator.
- Best for beginners (self-directed): Zerodha — simplest UI, best educational content (Varsity).
- Best for active traders: Upstox — 3-in-1, options tools, competitive AMC.
- Best for advisory and NRI: Angel One — research, ARQ Prime, NRI accounts.
- Best for mutual funds via broker: Zerodha Coin — direct plans, zero commission.
How to Open a Demat Account in 2026
Opening a demat account with any of these three brokers is fully digital and typically takes 10 to 30 minutes. You need your Aadhaar number (for eKYC), PAN card, a bank account in your name and a smartphone for the video verification step.
Steps: Visit the broker's website or app, start the account opening form, enter your PAN and Aadhaar, complete Aadhaar-based e-sign or upload documents, complete the 30-second IPV (In-Person Verification) video clip, and wait for account activation (typically same day or within 24 hours).
Note: You do not need a savings account with the same bank. Any bank account in your name works for all three brokers. For Upstox's 3-in-1 feature, you will need to open or link their partner bank account.
- Documents needed: PAN card, Aadhaar (for eKYC), bank account IFSC and account number.
- Time to open: 15–30 minutes online.
- Activation: same day for most accounts; up to 24 hours in some cases.
- Minimum balance: no minimum balance required for any of the three.
Affiliate Disclosure and Final Recommendation
RupeeKit may earn a commission if you open a demat account through the affiliate links on this page. This does not affect our editorial judgement — the recommendations above are based solely on charges, features and user experience.
Our honest recommendation for 2026: start with Zerodha if you are a first-time investor — its simplicity and educational content make the learning curve gentle. If you are an active F&O trader or want a 3-in-1 bank account, choose Upstox. If you want research guidance or are an NRI, choose Angel One.
Important: Before signing up, replace the placeholder links above with your broker's current offer page and partner tracking URL to earn your referral commissions.
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Frequently Asked Questions
Is Zerodha safe for long-term investing?
Yes. Zerodha is SEBI-registered, a member of NSE, BSE and MCX, and is one of the largest brokers in India by client count. Your securities are held in your demat account with CDSL or NSDL — not with Zerodha. Even if a broker ceases operations, your securities remain yours in the depository.
Can I open accounts with multiple brokers?
Yes. You can open demat accounts with multiple brokers, and many investors do — for example, using Zerodha for equity and Upstox for F&O. Each account will have its own demat account number with CDSL/NSDL. There is no restriction on the number of trading accounts, but each demat account has its own AMC.
What is the difference between a trading account and a demat account?
A trading account is used to place buy/sell orders on exchanges (NSE, BSE). A demat account holds the securities you buy in electronic form. Both are needed to invest in stocks. Brokers typically provide both — hence the term "2-in-1 account" (trading + demat). A 3-in-1 account adds a bank savings account linked to the same platform.
Does Zerodha have an affiliate programme?
Zerodha has a referral programme where you and a friend each get Rs 300 to Rs 500 in brokerage credits when the friend opens an account. It is not a formal CPA affiliate programme like Angel One Partner or Upstox Partner. For meaningful affiliate income, Angel One and Upstox are the better options.
What are the affiliate earnings for Angel One and Upstox?
Angel One Partner pays Rs 300 to Rs 700 per activated demat account depending on whether the client funds and trades. Upstox Partner pays Rs 200 to Rs 400 per account. Both programmes are free to join at their respective partner portals. You need to replace the placeholder links in this article with your own tracking links after joining.
Which broker is best for mutual fund investing?
For direct mutual fund investing (lowest expense ratio), use Zerodha Coin, Groww, Kuvera or MF Central — all offer direct plans with zero transaction charges. If you want to invest in both stocks and mutual funds from one app, Groww or Angel One work well. Avoid regular plan mutual funds through traditional brokers — the 1% trail commission reduces long-term returns significantly.
Educational Disclaimer
The content on this page is provided for general informational and educational purposes only. It does not constitute financial, tax, legal, or investment advice. Individual situations vary; always consult with a certified tax expert or financial advisor before making major financial decisions.