First Demat vs Mirae Asset Sharekhan
A full side-by-side comparison of brokerage charges, demat AMC, margin, platforms, features and user ratings — updated for 2026.
First Demat
VS
Mirae Asset Sharekhan
First Demat vs Mirae Asset Sharekhan — 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 Mirae Asset Sharekhan if
You want research and offline support
Get the power of experience on your side.
Company overview
First Demat is a discount broker incorporated in 2026; Mirae Asset Sharekhan is a full-service broker incorporated in 2000.
| Parameter | First Demat | Mirae Asset Sharekhan |
|---|---|---|
| Type of broker | Discount Broker | Full-Service Broker |
| Exchange membership | NSE · BSE · MCX | NSE · BSE · MCX · NCDEX |
| Year of incorporation | 2026 | 2000 older |
| Number of branches | 1 | 900+ wider |
| Active clients | 500 | 32 Lakh+ larger |
Charges & AMC
Account-opening and maintenance charges for First Demat and Mirae Asset Sharekhan compared side by side.
| Parameter | First Demat | Mirae Asset Sharekhan |
|---|---|---|
| Trading a/c opening | ₹0 online; ₹500 offline | ₹0 (Online) |
| Trading a/c AMC | ₹0 | ₹0 |
| Demat a/c opening | ₹0 | ₹0 |
| Demat a/c AMC | ₹0 for the first year lower | ₹0 (1st Year), then ₹400 + GST per year |
| DP charges (per ISIN, sell) | ₹20 + GST per ISIN lower | ₹25 per debit transaction + GST |
Brokerage charges
How First Demat and Mirae Asset Sharekhan price each trading segment, per executed order.
| Parameter | First Demat | Mirae Asset Sharekhan |
|---|---|---|
| Equity Delivery | 0.1% or ₹20 per executed order, whichever is lower | 0.30% |
| Equity Intraday | 0.1% or ₹20 per executed order, whichever is lower | 0.02% |
| Equity Futures | ₹20 per executed order | 0.02% |
| Equity Options | ₹20 per executed order | ₹20 per executed order |
| Currency F&O | — | 0.02% |
| Commodity F&O | — | 0.02% |
| Call & Trade | ₹50 per trade | ₹0 |
Transaction charges (exchange turnover)
Exchange turnover and clearing charges passed through by First Demat and Mirae Asset Sharekhan, per segment.
| Parameter | First Demat | Mirae Asset Sharekhan |
|---|---|---|
| Equity Delivery | NSE: 0.00307% · BSE: 0.00375% | NSE: 0.00297% • BSE: 0.00375% |
| Equity Intraday | NSE: 0.00307% · BSE: 0.00375% | NSE: 0.00297% • BSE: 0.00375% |
| Equity Futures | NSE: 0.00183% · BSE: 0% | NSE: 0.00173% |
| Equity Options | NSE: 0.03553% on premium · BSE: 0.0325% on premium | NSE: 0.03503% (on premium) |
| Currency Futures | Not specified | NSE: 0.00035% |
| Currency Options | Not specified | NSE: 0.03110% (on premium) |
| Commodity | Current segment-wise rates not verified | — |
| Commodity Futures | — | MCX: 0.00210% |
| Commodity Options | — | MCX: 0.04180% (on premium) |
Demat & DP charges
Depository (demat) charges for First Demat and Mirae Asset Sharekhan — AMC, debit transactions, pledging and remat.
| Parameter | First Demat | Mirae Asset Sharekhan |
|---|---|---|
| Demat Account Opening | ₹0 online | ₹0 |
| 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 | — |
| Annual Maintenance Charges (AMC) | — | ₹0 (1st Year), then ₹400 + GST per year |
| Debit Transaction Charges | — | ₹25 per debit transaction + GST |
| Pledge / Unpledge Charges | — | ₹30 + GST per request |
| Dematerialisation (Demat) | — | ₹50 per certificate + GST |
| Rematerialisation (Remat) | — | ₹50 per certificate + GST |
| Failed Transactions | — | Nil |
Margin & leverage (MTF)
Intraday and delivery margin / leverage offered by First Demat and Mirae Asset Sharekhan.
| Parameter | First Demat | Mirae Asset Sharekhan |
|---|---|---|
| Equity Delivery | Not verified (Not verified) | Up to 100% of trade value (1x) |
| Equity Intraday | Not verified (Not verified) | As per SEBI peak margin rules (Up to 5x (eligible stocks)) |
| 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) | Premium + SPAN (for option writing) (As per exchange norms) |
| Currency Futures | Not verified (Not verified) | SPAN + Exposure Margin (As per exchange norms) |
| Currency Options | Not verified (Not verified) | SPAN + Exposure Margin (As per exchange norms) |
| Commodity Futures | Not verified (Not verified) | — |
| Commodity Options | Not verified (Not verified) | — |
Features & account
Account type and feature availability across First Demat and Mirae Asset Sharekhan.
| Parameter | First Demat | Mirae Asset Sharekhan |
|---|---|---|
| 3-in-1 account | ✕ No | ✕ No |
| Automated / API trading | ✓ Yes | ✓ Yes |
| Margin Trading (MTF) | ✓ Yes | ✓ Yes |
| Trading in SME shares | ✓ Yes | ✓ Yes |
| Trading platforms | First Trade Web, First Mobile | Sharekhan App, Sharekhan Web Trading Platform, TradeTiger |
| Intraday square-off | 3:20 PM | 3:15 PM |
| Other | Free equity delivery, digital onboarding, MTF facility available. | Advanced research reports, Margin Trading Facility (MTF), Portfolio Health Check, Investment Ideas, IPO investment, Mutual Funds, Algo/API Trading, Smart Investor tools, Relationship Manager support, Educational webinars, TradeTiger desktop terminal, Comprehensive wealth management solutions. |
Trading platforms & apps
Trading terminals, web platforms and mobile apps offered by First Demat and Mirae Asset Sharekhan.
| Parameter | First Demat | Mirae Asset Sharekhan |
|---|---|---|
| Trading platforms offered | First Demat Web Trading Platform, First Demat Mobile Trading, First Demat Android App, First Demat iOS App | Sharekhan App, Sharekhan Web Trading Platform, TradeTiger |
| Number of platforms | 4 more choice | 3 |
| Platforms (summary) | First Trade Web, First Mobile | Sharekhan App, Sharekhan Web Trading Platform, TradeTiger |
| Mobile / desktop apps | Web, Mobile, Android, iPhone / iOS | Mobile, Web, Desktop |
User ratings
User ratings for First Demat and Mirae Asset Sharekhan across the key parameters.
| Rated on | First Demat | Mirae Asset Sharekhan |
|---|---|---|
| Fees | — | 4.2 |
| Brokerage | — | 4.1 |
| Trading platform | — | 4.7 |
| Customer service | — | 4.5 |
| Research | — | 4.9 |
| Overall | 5 better | 4.5 |
Investment options
Which investment products First Demat and Mirae Asset Sharekhan let you access.
| Parameter | First Demat | Mirae Asset Sharekhan |
|---|---|---|
| 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 Mirae Asset Sharekhan.
| Parameter | First Demat | Mirae Asset Sharekhan |
|---|---|---|
| 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 Mirae Asset Sharekhan.
| Parameter | First Demat | Mirae Asset Sharekhan |
|---|---|---|
| SEBI registration | INZ000328330 | INZ000174330 |
| NSE member code | 90479 (NSE membership number) | 10313 |
| Year of incorporation | 2026 | 2000 longer track record |
| Net worth | 6952 | ₹8,615+ Cr* stronger |
| Exchange memberships | NSE · BSE · MCX | NSE · BSE · MCX · NCDEX |
| Latest complaint ratio | 0.016% fewer complaints | 0.033% |
Complaints record
Exchange complaint data for First Demat and Mirae Asset Sharekhan — the ratio matters more than the raw count.
| Parameter | First Demat | Mirae Asset Sharekhan |
|---|---|---|
| Latest financial year | 2025-26 | 2025–26 |
| Exchange | NSE | NSE |
| Active clients | 5,00,000 | 31,20,000+ larger base |
| Complaints filed | 80 | 1,020 |
| Complaint ratio | 0.016% fewer complaints | 0.033% |
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.
Mirae Asset Sharekhan
▲ Pros
- ✓ Backed by the globally recognized Mirae Asset Financial Group.
- ✓ Comprehensive research reports and investment recommendations.
- ✓ Supports investment in stocks, derivatives, commodities, currencies, mutual funds, IPOs, bonds, and ETFs.
- ✓ Advanced trading platforms for web, desktop, and mobile users.
- ✓ Large nationwide network of branches and relationship managers.
- ✓ Margin Trading Facility (MTF) available for eligible stocks.
- ✓ Strong educational resources, webinars, and investor learning programs.
- ✓ Reliable customer support through branches, phone, email, and chat.
- ✓ Suitable for both beginners and long-term investors.
- ✓ Offers integrated wealth management and portfolio advisory services.
▼ Cons
- ✕ Brokerage charges are higher than most discount brokers.
- ✕ Annual Maintenance Charges (AMC) apply for Demat accounts.
- ✕ Account opening process may take longer than fully digital discount brokers.
- ✕ Premium research and advisory services may involve additional charges.
- ✕ Advanced trading tools are more beneficial for experienced traders than casual investors.
- ✕ Intraday brokerage can be comparatively expensive for high-frequency traders.
- ✕ Fewer free investment tools compared to some newer fintech brokers.
- ✕ Some premium features are available only under higher-value plans or subscriptions.
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