Pradeep Bhakhar
Bank Nifty is a one of the most popular index that represents the performance of the banking sector in India. Option trading is a popular form of investment for individuals want to profit from short-term market movements or hedge their portfolio.
If you want to trade Bank Nifty Options in India, you will need a Demat account to hold and manage your trades or positions. In this article, we will explore the-
Top 5 Best Demat Accounts for Bank Nifty option trading in India 2023 –
| Name | Brokerage Charge (F/O – Intraday) | Rating | Link |
|---|---|---|---|
| 1. Zerodha | Rs.20 per order | 4.5/5 | Open Account |
| 2. Upstox | Rs.20 per order | 4.2/5 | Open Account |
| 3. Paytm Money | Rs.15 per order | 3.7/5 | Open Account |
| 4. Kotak Securities | Rs.0 per order | 3.9/5 | Open Account |
| 5. Dhan | Rs.20 per order | 4/5 | Open Account |
How we have prepared the list of Demat accounts for Bank Nifty options trading depends on a few factors –
- Fees and charges
- Trading platform
- Option chain
- Customer support
1. Fees and charges – One of the first things to consider when choosing a demat account for Bank Nifty options trading is the fees and charges.
2. Trading platform – Another important factor to consider is the trading platform. The platform should be user friendly and provide robust trading tools, advanced charting. It should also be reliable and fast, to ensure that you can execute trades quickly and efficiently.
3. Option chain – The option chain is very important for the Bank Nifty option trader, where the trader gets instant access to buy or sell options for quick entry and exit.
4. Customer support – Customer support is very important when you choose a broker for Bank Nifty options trading because in case the trading platform crashes or you are not able to close your positions, the customer support team is responsive, knowledgeable, and quick to answer any questions you may have and should be available to assist you.
Zerodha (Best Discount Broker in India)
Zerodha is one of the best and fastest growing discount broker in India. Zerodha fast, reliable and easy-to-use trading platform with paperless account opening.
Charges and Brokerage –
- Online Account Opening Charges: Rs.200
- Account Maintenance Charges: Rs.300
| Segment | Brokerage charges |
|---|---|
| Equity (Delivery) | Rs.0 |
| Future & Options | Rs. 20 per order |
Pros & Cons of Zerodha –
Zerodha is our Best Handpicked Stock Broker
Upstox (Free Demat Account opening)
Upstox is another leading discount broker in India. Upstox offers free account opening and Rs.0 Account Maintenance Fee. They have a separate platform called Upstox Pro for traders.
Charges and Brokerage –
- Online Account Opening Charges: Free
- Account Maintenance Charges: Free
| Segment | Brokerage charges |
|---|---|
| Equity (Delivery) | Rs.0 |
| Future & Options | Rs. 20 per order |
Pros & Cons of Upstox –
Paytm Money (Flat Rs.15 per order Brokerage)
Paytm Money is a subsidiary of Paytm, one of the largest digital payments companies in India. It is one of the fastest growing broker in India. Paytm Money offers Rs.15 brokerage on intraday & Delivery trades.
Charges and Brokerage –
- Online Account Opening Charges: Free
- Account Maintenance Charges: Rs.0
- Monthly Platform Fees – Rs.30+GST per Month
| Segment | Brokerage charges |
|---|---|
| Equity (Delivery) | Rs. 15 per order |
| Future & Options | Rs. 15 per order |
Pros & Cons of Paytm Money –
Kotak Securities (Zero Intraday Brokerage)
Kotak Securities is a full service broker and a subsidiary of Kotak Bank. This broker is useful for regular traders as they can save a lot of money on brokerage. Kotak Securities offers Rs.0 brokerage on intraday trades.
Kotak Securities also provides Nest trading software free of cost.
Charges and Brokerage –
- Online Account Opening Charges: Free
- Account Maintenance Charges: This fee is usually below Rs 500 annually.
| Segment | Brokerage charges |
|---|---|
| All Intraday Trades (Like: Equity, F&O) | Free |
Pros & Cons of Kotak Securities –
Dhan (#MadeForTrade)
Dhan brokerage company is a recently started and they have become the fastest growing new technology based stock broker in India. They also have dedicated option trading app which helps Bank Nifty option trader in option trading.
Charges and Brokerage –
- Online Account Opening Charges: Free
- Account Maintenance Charges: Free
| Segment | Brokerage charges |
|---|---|
| Equity (Delivery) | Rs.0 |
| Future & Options | Rs. 20 per order |
Pros & Cons of Dhan –
In conclusion, when choosing a demat account for Bank Nifty option trading in India, it’s important to consider factors such as Fees & charges, Trading platform, Option chain and Customer support.
The above-mentioned demat accounts are some of the best options available for Bank Nifty option trading in India, each offering its own unique set of features and benefits.
It’s important to research and compare the different options before making a final decision to ensure that you choose a demat account that meets your trading goals and needs.
