By Radhika If you’re planning to start investing in the stock market, choosing a Demat account with zero Annual Maintenance Charges (AMC) can save you thousands over time. Traditionally, AMC ranges from ₹100 to ₹1000 annually, but many modern brokers now offer lifetime free Demat accounts, making investing more cost-efficient.
In this blog, we explore the top 7 brokers in India offering zero AMC Demat accounts, along with their key features, pricing, and who they’re best suited for.
Top 7 Brokers Offering Demat Accounts with Zero AMC
Groww
Groww, India’s No. 1 stockbroker, offers Demat accounts with zero annual maintenance charges. The entire account opening process is completely online and paperless. Once your account is set up, Groww works as a single platform where you can invest and manage different types of assets in one place, including
- Stocks listed on NSE and BSE,
- ETFs,
- IPOs,
- Bonds,
- Direct mutual funds
- For traders, Groww provides access to more advanced segments like Futures & Options (F&O), intraday trading, and commodities such as gold, silver, crude oil, natural gas, copper, zinc, aluminum, and electricity. It also includes features like option chain analysis, stock screeners, technical indicators, and a trading terminal where users can track charts, positions, and orders in one place.
- Active traders can further benefit from tools like margin trading (MTF), pledge and API-based trading, and 915 by Groww, a web-based advanced trading terminal by Groww that supports advanced strategies.
Pocketful
Pocketful is a relatively newer entrant in the brokerage space offering zero AMC Demat accounts. The platform emphasizes technology-driven investing by integrating data, analytics, and curated insights. It provides users with tools that help in evaluating stocks and understanding market trends.
The onboarding process is digital, allowing users to start investing without extensive paperwork. In addition to equities, the platform may offer access to multiple asset classes, depending on its product expansion.
m.Stock (Mirae Asset)
m.Stock is a brokerage platform backed by Mirae Asset that offers Demat accounts with zero AMC as part of its pricing model. It is positioned as a low-cost alternative for investors who engage in frequent trading activities.
Since it is backed by an established financial institution, it benefits from existing infrastructure and credibility. However, users may need some familiarity with trading platforms to fully utilize its features. It is generally considered a cost-efficient option for those prioritizing low transaction costs.
Angel One
Angel One is a full-service brokerage that also provides zero AMC but only for the first year; then it is ₹450 per annum. It combines traditional brokerage services with digital trading capabilities. The platform offers access to research reports, investment recommendations, and advisory tools. It supports multiple asset classes, including equities, derivatives, commodities, and mutual funds.
Users may find value in its integrated approach, which combines execution with guidance. The onboarding process has been digitized, although it retains elements of its legacy systems. Brokerage charges vary depending on the type of trade and segment. It may be suitable for individuals who prefer having access to both tools and advisory support.
Upstox
Upstox is a discount brokerage platform that offers zero AMC Demat accounts for the first year; after that, ₹300 + GST is charged every year. It provides access to equities, derivatives, commodities, and IPO investments through its trading ecosystem.
Account opening is conducted online, with a relatively streamlined verification process. Brokerage charges are typically applied on a per-trade basis depending on the segment. While it supports both beginners and experienced users, its feature set may be more beneficial for those familiar with trading strategies. The platform continues to expand its tools and services to remain competitive.
5paisa
5paisa is a discount broker that provides Demat accounts with zero AMC under specific plans or conditions. It focuses on offering low-cost trading solutions through a combination of flat brokerage and subscription-based pricing.
The platform allows trading across equities, derivatives, and mutual funds within a single account. It includes features such as research tools, screeners, and basic analytics for users. The account opening process is digital and designed for quick activation. Users can choose plans that align with their trading frequency to optimize costs. While the platform aims to keep costs low, users may need to evaluate plan structures carefully. It is generally positioned as a budget-friendly option for active market participants.
Samco Securities
Samco Securities is a brokerage firm that offers zero AMC Demat accounts in certain cases, along with a focus on analytics-driven investing. The platform provides access to equities, derivatives, and other financial instruments.
Users can benefit from features that support systematic trading approaches. The brokerage follows a flat-fee structure for trades, which simplifies cost calculation. Account opening is conducted online, with standard verification requirements. The platform may be more suitable for users who rely on data and structured strategies. It continues to expand its offerings to cater to different types of investors.
Conclusion
Demat accounts with zero AMC can help reduce long-term investment costs, particularly for individuals who plan to stay invested over extended periods. While eliminating annual maintenance charges is beneficial, it is also important to evaluate other factors such as brokerage fees, platform usability, and available features. Different brokers cater to different types of users, ranging from beginners to active traders. A careful comparison based on individual needs can help in selecting a suitable platform.