Whenever we listen this world demat account it appears like a jigsaw Puzzle for a beginner .
A Demat account is a short form of " Dematerialised account" that holds financial security digitally and to trade shares in the share market.
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Difference between a Demat account and Trading account : -
A demat account is used for holding your shares and mutual fund units where as trading account is used for trading those shares and mutual fund units on the exchange. We use trading account while trading in intraday and future options.
Here, we had brought a data analysis is of various Demat accounts from which one can choose the best one .
( 1 ) - UPSTOX : -
a - Account opening charges : Zero .
b - Account maintenance
charges : ₹150 per year .
c - Brokerage :
equity delivery - ₹0
d - Depository participant charges :
Buy order - no charges.
Sell order - ₹18.50 + GST
( CDSL charges ) per
company per day.
e - Payment gateway charges :
Zero
f - Transaction charges :
NSE - 0.00345 % on both buy
and sell.
BSE - charges vary as per
company.
g - Securities transaction tax ( STT) :
Delivery - 0.10% on both buy
and sell.
h - Stamp duty -
Delivery - 0.015% or ₹1500
per crore.
i - SEBI turnover charges :
0.00005% per crore.
( 2 ) - ZERODHA : -
a - Account opening charges : Zero.
b - Account maintenance
charges : ₹300 per year.
c - Brokerage :
Equity delivery - ₹0
d - Depository participant charges :
Buy order - no charges.
Sell order - ₹13.50 + GST
( CDSL charges) per
company per day.
e - Payment gateway charges :
₹9 + GST (zero using UPI)
f - Transaction charges:
NSE - 0.00345% on both buy
and sell.
BSE - 0.00345% on both buy
and sell.
g - Securities transaction tax ( STT) :
Delivery - 0.10% on both buy
and sell.
h - Stamp duty -
Delivery - 0.015% or ₹1500
per crore.
i - SEBI turnover charges -
0.00010% per crore.
( 3 ) - GROW : -
a - Account opening charges : Zero.
b - Account maintenance
charges : Zero.
c - Brokerage :
Equity delivery - ₹20
d - Depository participant
charges :
Buy order - no charges.
Sell order - ₹13.50 + GST
( CDSL charges ) per
company per day.
e - Payment gateway charges : zero.
f - Transaction charges :
NSE - 0.00325% on both buy
and sell.
BSE - 0.0030% on both buy
and sell.
g - Securities transaction tax (STT) :
Delivery - 0.10% on both buy
and sell.
h - Stamp duty : 0.015% or
₹1500 per crore
i - SEBI turnover charges :
0.00010% per crore.
Do all these platforms provide app or websites to their users but they are also connected to NSE and BSE through back and technology. This connection is either by using their own platform and then connecting it to the BSE or by using the BSE's platform at back end.
This is important because BSE's platform had crashed few times in the past. So automatically, back end linked app will also crash in the same manner .
While using on platform provides some additional benefit more control and security.
Hence, let's compare the back and technology of these apps.
From the above only UPSTOX uses their own platform while ZERODHA and GROWW use BSE's platform.
Apart from that , when it comes to the customer services, UPSTOX ZERODHA and GROWW offer telephonic support to their clients..!
