Upstox

• Overview: Upstox, backed by Ratan Tata and Tiger Global, offers a genuine lifetime free Demat account with zero AMC and no hidden conditions Pocketful.in+13The Share Brokers+13Reddit+13Lucknow LionsBest stock broker in india+15Reddit+15DigitalFinanceClub+15.
  
  
• Key Advantages:
  
  
  • Zero AMC and account opening fees.
    
    
  • No minimum trading activity required to maintain free status.
    
    
  • Integrated 3-in-1 account (bank, trading, demat).
    
    
  • High-speed platform with a 99.7% uptime record.
    
    
  • Advanced charting, digital contract notes, and investor education resources Reddit+3The Share Brokers+3Reddit+3.
    
    
• Why It Stands Out: Free Demat on all clients without trade conditions makes it the most cost-effective and transparent option in 2025.
  
  

Zerodha

• Overview: A pioneer in discount broking, Zerodha offers zero AMC for users who execute at least one trade annually. No account opening charges either The Share Brokers.
  
  
• Key Features:
  
  
  • Free AMC if there is at least one annual trade.
    
    
  • Flat ₹20 brokerage on intraday/F&O and zero on delivery.
    
    
  • Kit platform, Coin for mutual funds, and API support for algo trading.
    
    
  • Varsity educational content and portfolio analytics via Console.
    
    
• Why Choose It: Seamless, robust tools combined with easy cost structure, ideal for active and passive investors looking for transparency and scalability.
  
  

Groww

• Overview: Groww allows zero account opening and zero AMC for lifetime with absolutely no trading requirement Reddit+14The Share Brokers+14InstockBroker+14Reddit+1Reddit+1.
  
  
• Features:
  
  
  • Zero AMC and free account setup.
    
    
  • Equity delivery free, ₹20 per intraday/F&O order.
    
    
  • Clean interface with integrated IPO, SIP, mutual funds, and investment tracking tools.
    
    
• Why It Works: Its goal-based investing UI, simplicity, and no-cost structure make it ideal for beginners and long-term DIY investors.
  
  

Angel One

• Overview: Formerly known as Angel Broking, Angel One offers conditional AMC waiver—free AMC if quarterly trades are done or minimum portfolio held.
  
  
• Key Benefits:
  
  
  • Zero AMC if conditions are met; otherwise ₹240/year.
    
    
  • SmartAPI access, branch support, and hybrid advisory + discount pricing.
    
    
  • AI-driven stock suggestions via ARQ Prime.
    
    
• Why It Appeals: Ideal for semi-active investors who benefit from research tools and occasional advisory while avoiding AMC.
  
  

5Paisa

• Overview: Known for ultra-low-cost trading, 5Paisa offers zero AMC for demat accounts unconditionally
• Highlights:
  
  
  • Zero AMC and no account opening fee.
    
    
  • Flat ₹10 or ₹20 per executed trade.
    
    
  • Robo-advisory, free research, margin trading, and multi-asset support.
    
    
• Why It Stands Out: Robust price advantage with advanced tools, making it ideal for frequent traders and cost-conscious investors.
  
  

Dhan

• Overview: Dhan, built for active traders, gives zero AMC for accounts with minimal quarterly activity
  
  
• Platform Perks:
  
  
  • Sub‑5 millisecond trade execution.
    
    
  • Custom scan tools, options analytics, basket trades.
    
    
  • Professional-grade interface with TradingView integration.
    
    
• Ideal For: Day traders, options strategists, and technologically inclined users who demand speed and performance.
  
  

ICICI Direct

• Overview: While a full-service broker, ICICI Direct offers conditional AMC waiver—provided you maintain certain portfolio value or trade volume
• Why Choose It:
  
  
  • Research-rich environment with 3‑in‑1 banking integration.
    
    
  • Advanced portfolio management, goal-based tools, and seamless fund transfers.
    
    
• Best For: Investors who value integrated banking, advisory support, and consistent portfolio management with conditional AMC benefits.