FYERS(3.4) Open Account
Zerodha(3.8) Open Account
Upstox(3.4) Open Account
|Broker Type||Discount Broker||Discount Broker||Discount Broker|
|Account Opening||Free||₹ 300||Free|
|Account Maintenance||Free||₹ 300||₹ 249|
Yes, account opening is free with Fyers. For a limited time, Fyers is also giving free AMC for life to new account openings.
Upon submission and verification of necessary documents, your account will be opened within 24 working hours.
The following documents are required for opening a Demat account with Fyers:
1. Proof of Identity (PAN card)
2. Proof of Address (Passport, Electricity bill, etc.)
3. Any one of these documents, if the customer wants to trade in derivatives; Copy of ITR acknowledgement / Salary Slip, Copy of Form 16 / Bank account statement for the last 6 months / Copy of Demat account holding statement / Networth certificate / Relevant documents substantiating ownership of assets/self-declaration with relevant supporting documents.
4. Photo or scanned copy of cancelled cheque/passbook/bank statement with IFSC/MICR code.
Upstox account is a 2-in-1 account. It is a combination of a trading and a demat account. The trading account gives you access to stock exchanges like NSE, BSE and MCX etc. And the demat account is used to hold securities like stocks, mutual funds etc.
The upstox account allows investors to trade in stocks, equity derivatives, currency and commodities. It also offers online mutual fund investment in a lump sum or SIP way.
You can open the Upstox account in 2 easy ways:
1. Upstox Online Account Opening
Click on to open an account
Enter your Email Address and Mobile Number.
Fill in your personal details and bank details.
Review, confirm and submit the application.
2. Upstox Offline Account Opening
Visit Upstox website, Go to 'Support'
Click 'Download Forms'
Click 'Demat & Trading Account'
Print the form
Fill and sign the form.
Attach all the required documents.
Courier the filled form to Upstox registered office.
Upstox offers brokerage free equity delivery trading. For all other segments, it charges flat Rs. 20 or 0.01% per executed order. Also, customers have to pay government taxes, exchange turnover charges, demat debit transaction fees etc. Click the link to know more about Upstox brokerage charges.
Zerodha Kite is Zerodha’s online trading platform, which was built in 2015. It is a web-based, lightweight platform which can be used for trading on mobile, tablets as well as desktop browsers. The KITE platform facilitates trading in 11 languages. Kite mobile is currently available in the Android version & iOS on Google Play store. It has advanced technical analysis charting with more than 100 charting indicators and unlimited data for different stocks.
Zerodha provides a range of mobile apps for its customers based on different services. These include:
Zerodha Kite: Online trading platform for stock and commodity trading
Zerodha Coin: For mutual funds investments
Zerodha Varsity: Stock marketing lessons
Zerodha Sentinel: Market alerts and monitoring for stocks, futures and options on the cloud
Pulse by Zerodha: For latest market news and updates.
Zerodha is one of the leading and most popular stock brokers in India, with a massive client base created over years. Beginners often prefer trading with the cheapest brokers, and Zerodha, with a flat fee model at Rs 20, fits perfectly in this parameter. Additionally, Zerodha also provides online education apps, support portal, and discussion forums which prove to be of great assistance to beginner level investors. However, Zerodha being a discount broker does not assist with research, advisory or recommendations. This makes it a challenge for new investors who often find it difficult to make these decisions.
Overall, considering the many helpful services it offers, Zerodha can be considered as a good option for beginner level investors.