Entering the Indian stock market begins with one crucial step: opening a Demat account, which holds your securities in electronic form. Thankfully, many brokers now offer free Demat account opening or zero maintenance charges, helping investors start without upfront costs.
Here’s a detailed list of the best brokers in India offering free Demat accounts in 2025, perfect for beginners and experienced investors alike:
Top Brokers Offering Free Demat Accounts
Groww
Groww is India’s #1 stockbroker, offering a completely free Demat account and trading account opening with zero annual maintenance charges (AMC).
The app is used by millions of investors to invest in stocks, direct-only mutual funds, IPOs, ETFs, NFOs, bonds, gold ETFs, and gold mutual funds and to trade in F&O, commodities, and intraday.
Over and above, Groww also offers Margin Trading Facility (MTF), APIs for algorithmic trading, credit solutions, and a pro-trading web-based terminal for high-frequency trading, i.e., 915 by Groww, all under one app.
Groww’s pricing model is also transparent. Equity brokerage is capped at ₹20 or 0.1% per executed order (whichever is lower), while direct mutual funds remain completely commission-free.
Upstox
Upstox offers a free Demat account with zero account opening charges and focuses heavily on speed and performance. The platform is designed for investors who want quick access to markets with minimal friction, making it a favourite among traders and participants.
Upstox combines competitive brokerage pricing with real-time market data and a responsive mobile app.
Angel One
Angel One offers a free Demat account option and bridges the gap between discount and full-service broking. Along with basic trading facilities, Angel One provides research reports, investment ideas, and advisory tools, which can be helpful for investors who prefer guided decision-making.
The platform suits investors who want more than just execution, particularly those who value market insights and recommendations alongside a free account opening experience. While some services may carry additional costs, the Demat account itself helps reduce entry barriers.
Zerodha
Zerodha is another discount broker that also offers free Demat account opening. It’s known for its trading platform, tools, and strong community support. While Zerodha’s Demat account opening is free, investors should note that it may charge an annual maintenance fee depending on the account type.
It is good for traders who prioritise system reliability over hand-holding or guided investing.
5Paisa
5Paisa is another broker offering free Demat account opening, aimed at investors who are highly cost-sensitive. It provides access to equities, mutual funds, derivatives, and other instruments at competitive rates. The platform follows a value-driven approach, though its interface may feel less intuitive compared to newer platforms like Groww.
5Paisa is suitable for investors who already understand market basics and want to keep brokerage costs low while managing their investments independently.
Conclusion
While many brokers advertise “free Demat accounts”, investors should always look beyond account opening charges. Brokerage fees, DP charges on sell transactions, statutory taxes, platform usability, and customer support all play an important role in long-term investing. A truly good broker balances low costs with reliability, ease of use, and product depth.
