First Demat vs HDFC Securities
A full side-by-side comparison of brokerage charges, demat AMC, margin, platforms, features and user ratings — updated for 2026.
First Demat
VS
HDFC Securities
First Demat vs HDFC Securities — quick verdict
Choose First Demat if
You want low-cost, self-directed trading
First Demat review — multiple brokerage packs, brokerage starting at ₹20 per order, digital trading platforms and a wide range of investment options. make this short
Choose HDFC Securities if
You want research and offline support
Invest Right. Invest Now.
Company overview
First Demat is a discount broker incorporated in 2026; HDFC Securities is a full-service broker incorporated in 2000.
| Parameter | First Demat | HDFC Securities |
|---|---|---|
| Type of broker | Discount Broker | Full-Service Broker |
| Exchange membership | NSE · BSE · MCX | NSE · BSE · MCX |
| Year of incorporation | 2026 | 2000 older |
| Number of branches | 1 | 200+ wider |
| Active clients | 500 | ~14.6 Lakh larger |
Charges & AMC
Account-opening and maintenance charges for First Demat and HDFC Securities compared side by side.
| Parameter | First Demat | HDFC Securities |
|---|---|---|
| Trading a/c opening | ₹0 online; ₹500 offline | ₹999 + GST |
| Trading a/c AMC | ₹0 | ₹0 (Free) |
| Demat a/c opening | ₹0 | ₹0 (Free) |
| Demat a/c AMC | ₹0 for the first year lower | ₹750 per year* |
| DP charges (per ISIN, sell) | ₹20 + GST per ISIN | ₹18.50 + GST per debit transaction lower |
Brokerage charges
How First Demat and HDFC Securities price each trading segment, per executed order.
| Parameter | First Demat | HDFC Securities |
|---|---|---|
| Equity Delivery | 0.1% or ₹20 per executed order, whichever is lower | 0.10% |
| Equity Intraday | 0.1% or ₹20 per executed order, whichever is lower | 0.03% |
| Equity Futures | ₹20 per executed order | ₹20 per executed order or 0.03% (whichever is lower) |
| Equity Options | ₹20 per executed order | ₹20 per executed order |
| Currency F&O | — | ₹20 per executed order |
| Commodity F&O | — | ₹20 per executed order |
| Call & Trade | ₹50 per trade | ₹20 per executed order |
Transaction charges (exchange turnover)
Exchange turnover and clearing charges passed through by First Demat and HDFC Securities, per segment.
| Parameter | First Demat | HDFC Securities |
|---|---|---|
| Equity Delivery | NSE: 0.00307% · BSE: 0.00375% | NSE ₹297 per Cr (0.00297%) | BSE ₹297 per Cr (0.00297%) |
| Equity Intraday | NSE: 0.00307% · BSE: 0.00375% | NSE ₹297 per Cr (0.00297%) | BSE ₹297 per Cr (0.00297%) |
| Equity Futures | NSE: 0.00183% · BSE: 0% | NSE ₹173 per Cr (0.00173%) | BSE ₹173 per Cr (0.00173%) |
| Equity Options | NSE: 0.03553% on premium · BSE: 0.0325% on premium | NSE ₹3,503 per Cr (0.03503%) | BSE ₹3,250 per Cr (0.0325%) |
| Currency Futures | Not specified | NSE ₹35 per Cr (0.00035%) | BSE ₹35 per Cr (0.00035%) |
| Currency Options | Not specified | NSE ₹3,100 per Cr (0.0311%) | BSE ₹1,000 per Cr (0.01%) |
| Commodity | Current segment-wise rates not verified | — |
| Commodity Futures | — | MCX ₹260 per Cr (0.00260%) |
| Commodity Options | — | MCX ₹5,000 per Cr (0.05%) |
Demat & DP charges
Depository (demat) charges for First Demat and HDFC Securities — AMC, debit transactions, pledging and remat.
| Parameter | First Demat | HDFC Securities |
|---|---|---|
| Demat Account Opening | ₹0 online | ₹0 (Free) |
| Demat Account AMC | ₹0 for the first year; thereafter | — |
| DP Source | NSDL, through the intermediary identified in the official regulatory disclosure | — |
| DP ID | IN303921, as listed on the official website | — |
| DP Charges for Debit | ₹20 + GST per ISIN | — |
| Dematerialisation Charges | ₹20 per DRF + ₹3 per certificate | — |
| Rematerialisation Charges | ₹20 per 100 securities or part thereof, subject to a maximum of ₹5,000, or ₹20 per certificate, whichever is higher | — |
| Margin Pledge / Unpledged for Collateral | ₹25 + GST per transaction | — |
| Margin Pledged | ₹3 + GST per transaction, | — |
| Pledge Creation Confirmation | Not specified | — |
| Failed Instruction Charges | ₹20 per intimation per instruction | — |
| Advance Deposit | ✕ No | — |
| Other Charges | Refer to the latest official demat tariff | — |
| Transaction Charges (Sell) | — | ₹18.50 + GST per debit transaction |
| Annual Maintenance Charges (AMC) | — | ₹750 per year* |
| Pledge Creation / Invocation | — | ₹25 + GST per request |
| Remat | — | ₹25 per certificate + applicable charges |
| Failed Transactions | — | Nil |
Margin & leverage (MTF)
Intraday and delivery margin / leverage offered by First Demat and HDFC Securities.
| Parameter | First Demat | HDFC Securities |
|---|---|---|
| Equity Delivery | Not verified (Not verified) | 100% of trade value (1x) |
| Equity Intraday | Not verified (Not verified) | As per SEBI peak margin norms (Up to 5x) |
| Equity Futures | As per applicable exchange and broker requirements (Not verified) | SPAN + Exposure Margin (1x) |
| Equity Options | As per applicable exchange and broker requirements (Not verified) | — |
| Currency Futures | Not verified (Not verified) | — |
| Currency Options | Not verified (Not verified) | — |
| Commodity Futures | Not verified (Not verified) | — |
| Commodity Options | Not verified (Not verified) | — |
Features & account
Account type and feature availability across First Demat and HDFC Securities.
| Parameter | First Demat | HDFC Securities |
|---|---|---|
| 3-in-1 account | ✕ No | ✓ Yes better |
| Automated / API trading | ✓ Yes better | ✕ No |
| Margin Trading (MTF) | ✓ Yes | ✓ Yes |
| Trading in SME shares | ✓ Yes | ✓ Yes |
| Trading platforms | First Trade Web, First Mobile | HDFC SKY, HDFC Securities Mobile App, ProTerminal, InvestRight |
| Intraday square-off | 3:20 PM | 3:15 PM |
| Other | Free equity delivery, digital onboarding, MTF facility available. | 3-in-1 account, MTF, research reports, IPO investment, basket orders, option chain, mutual funds, ETFs and bonds. |
Trading platforms & apps
Trading terminals, web platforms and mobile apps offered by First Demat and HDFC Securities.
| Parameter | First Demat | HDFC Securities |
|---|---|---|
| Trading platforms offered | First Demat Web Trading Platform, First Demat Mobile Trading, First Demat Android App, First Demat iOS App | HDFC SKY, HDFC Securities Mobile App, ProTerminal, InvestRight |
| Number of platforms | 4 | 4 |
| Platforms (summary) | First Trade Web, First Mobile | HDFC SKY, HDFC Securities Mobile App, ProTerminal, InvestRight |
| Mobile / desktop apps | Web, Mobile, Android, iPhone / iOS | Web + Mobile, Mobile, Desktop, Web |
User ratings
User ratings for First Demat and HDFC Securities across the key parameters.
| Rated on | First Demat | HDFC Securities |
|---|---|---|
| Fees | — | 4.3 |
| Brokerage | — | 4.4 |
| Trading platform | — | 4.7 |
| Customer service | — | 4.3 |
| Research | — | 4.5 |
| Overall | 5 better | 4.4 |
Investment options
Which investment products First Demat and HDFC Securities let you access.
| Parameter | First Demat | HDFC Securities |
|---|---|---|
| Stocks / Equity | ✓ Yes | ✓ Yes |
| Commodity | ✓ Yes | ✓ Yes |
| IPO | ✓ Yes | ✓ Yes |
| Mutual Funds | ✓ Yes | ✓ Yes |
| Bonds / NCD | ✓ Yes | ✓ Yes |
Order types offered
Advanced order types supported by First Demat and HDFC Securities.
| Parameter | First Demat | HDFC Securities |
|---|---|---|
| Bracket Order | ✕ No | ✕ No |
| Cover Order | ✕ No | ✕ No |
| BTST | ✓ Yes | ✓ Yes |
| After Market (AMO) | ✓ Yes | ✓ Yes |
| GTC / GTT | ✓ Yes | ✓ Yes |
Safety & credibility
SEBI registration, financial strength and complaint record for First Demat and HDFC Securities.
| Parameter | First Demat | HDFC Securities |
|---|---|---|
| SEBI registration | INZ000328330 | INZ000186937 |
| NSE member code | 90479 (NSE membership number) | 06586 |
| Year of incorporation | 2026 | 2000 longer track record |
| Net worth | 6952 | ₹3,300+ Crore stronger |
| Exchange memberships | NSE · BSE · MCX | NSE · BSE · MCX |
| Latest complaint ratio | 0.016% fewer complaints | 0.175% |
Complaints record
Exchange complaint data for First Demat and HDFC Securities — the ratio matters more than the raw count.
| Parameter | First Demat | HDFC Securities |
|---|---|---|
| Latest financial year | 2025-26 | 2025-26 |
| Exchange | NSE | NSE |
| Active clients | 5,00,000 | 15,39,103 larger base |
| Complaints filed | 80 | 2,690 |
| Complaint ratio | 0.016% fewer complaints | 0.175% |
Pros & cons
The main advantages and drawbacks of each broker.
First Demat
▲ Pros
- ✓ Zero online account opening charges.
- ✓ Brokerage of ₹20 per executed order or 0.1%, whichever is lower, on applicable segments.
- ✓ ₹20 per executed order for equity futures and options, according to the official pricing page.
- ✓ Web and mobile trading platforms.
- ✓ AI-assisted market insights and research tools.
- ✓ Option strategy builder and multi-leg strategy tools.
- ✓ Charting and technical indicators.
- ✓ Trailing stop-loss and smart alerts.
- ✓ IPO application facilities.
- ✓ Mutual funds and ETFs, according to the supplied review and platform information.
▼ Cons
- ✕ Brokerage and other fees should be checked against the applicable tariff and account conditions.
- ✕ Call & Trade and auto square-off services attract additional charges.
- ✕ Statutory taxes and exchange transaction charges apply separately.
- ✕ Zero Demat AMC is stated for the first year; charges after the first year should be confirmed.
- ✕ Current active-client figures and net worth have not been independently verified.
- ✕ Individual category ratings and review counts are unavailable.
- ✕ MTF is marked unavailable in the supplied review.
- ✕ A 3-in-1 account is marked unavailable in the supplied review.
- ✕ Some platform features and product availability require confirmation.
HDFC Securities
▲ Pros
- ✓ Integrated 3-in-1 account with HDFC Bank.
- ✓ Comprehensive research reports and expert recommendations.
- ✓ Advanced web, mobile and desktop trading platforms.
- ✓ Investment in Stocks, F&O, IPOs, Mutual Funds, ETFs and Bonds.
- ✓ Margin Trading Facility (MTF) available.
- ✓ Strong brand reputation with nationwide presence.
- ✓ Dedicated relationship manager for eligible customers.
▼ Cons
- ✕ Brokerage charges are higher than discount brokers.
- ✕ Annual Maintenance Charges apply for demat accounts.
- ✕ Call & Trade service is chargeable.
- ✕ Some advanced trading tools are available only to eligible customers.
- ✕ Margin benefits depend on the applicable product and segment.
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