First Demat vs SMC Global

A full side-by-side comparison of brokerage charges, demat AMC, margin, platforms, features and user ratings — updated for 2026.

First Demat
First Demat
Discount Broker · since 2026
VS
SMC Global
Full-Service Broker · since 1994
SMC Global

First Demat vs SMC Global — 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 SMC Global if

You want research and offline support

Your Financial Partner.

Company overview

First Demat is a discount broker incorporated in 2026; SMC Global is a full-service broker incorporated in 1994.

ParameterFirst DematSMC Global
Type of broker Discount Broker Full-Service Broker
Exchange membership NSE · BSE · MCX NSE · BSE · MCX · NCDEX · MSEI
Year of incorporation 2026 1994 older
Number of branches 1 2,500+ wider
Active clients 500 4 Lakh+ larger

Charges & AMC

Account-opening and maintenance charges for First Demat and SMC Global compared side by side.

ParameterFirst DematSMC Global
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 ₹399 + GST per year
DP charges (per ISIN, sell) ₹20 + GST per ISIN ₹15.93 per debit transaction (including GST) lower

Brokerage charges

How First Demat and SMC Global price each trading segment, per executed order.

ParameterFirst DematSMC Global
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 0.30%
Equity Futures ₹20 per executed order 0.30%
Equity Options ₹20 per executed order ₹20 per executed order
Currency F&O — 0.03%
Commodity F&O — 0.03%
Call & Trade ₹50 per trade ₹20 per executed order

Transaction charges (exchange turnover)

Exchange turnover and clearing charges passed through by First Demat and SMC Global, per segment.

ParameterFirst DematSMC Global
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 SMC Global — AMC, debit transactions, pledging and remat.

ParameterFirst DematSMC Global
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) — ₹399 + GST per year
Debit Transaction Charges — ₹15.93 per debit transaction (including GST)
Pledge / Unpledge Charges — ₹25 + GST per request
Dematerialisation (Demat) — ₹150 per certificate + GST
Rematerialisation (Remat) — ₹150 per certificate + GST
Failed Transactions — Nil

Margin & leverage (MTF)

Intraday and delivery margin / leverage offered by First Demat and SMC Global.

ParameterFirst DematSMC Global
Equity Delivery Not verified (Not verified) 100% of trade value (1x)
Equity Intraday Not verified (Not verified) VAR + ELM Margin (Up to 5x*)
Equity Futures As per applicable exchange and broker requirements (Not verified) SPAN + Exposure Margin (As per available margin)
Equity Options As per applicable exchange and broker requirements (Not verified) Premium Value (Not Applicable)
Currency Futures Not verified (Not verified) SPAN + Exposure Margin (As per available margin)
Currency Options Not verified (Not verified) SPAN + Exposure Margin (As per available margin)
Commodity Futures Not verified (Not verified) SPAN + Exposure Margin (As per available margin)
Commodity Options Not verified (Not verified) —

Features & account

Account type and feature availability across First Demat and SMC Global.

ParameterFirst DematSMC Global
3-in-1 account ✕ No ✕ No
Automated / API trading ✓ Yes better ✕ No
Margin Trading (MTF) ✓ Yes ✓ Yes
Trading in SME shares ✓ Yes ✓ Yes
Trading platforms First Trade Web, First Mobile SMC ACE Web, SMC ACE Mobile App, SMC Trade Pro
Intraday square-off 3:20 PM 3:15 PM
Other Free equity delivery, digital onboarding, MTF facility available. Research Reports, Trading Calls, Option Chain, Advanced Charting, Basket Orders, Price Alerts, Portfolio Tracker, Margin Trading Facility (MTF), IPO Investment, Wealth Management

Trading platforms & apps

Trading terminals, web platforms and mobile apps offered by First Demat and SMC Global.

ParameterFirst DematSMC Global
Trading platforms offered First Demat Web Trading Platform, First Demat Mobile Trading, First Demat Android App, First Demat iOS App SMC ACE Web, SMC ACE Mobile App, SMC Trade Pro
Number of platforms 4 more choice 3
Platforms (summary) First Trade Web, First Mobile SMC ACE Web, SMC ACE Mobile App, SMC Trade Pro
Mobile / desktop apps Web, Mobile, Android, iPhone / iOS Web, Mobile, Desktop

User ratings

User ratings for First Demat and SMC Global across the key parameters.

Rated onFirst DematSMC Global
Fees — 4.1
Brokerage — 4.2
Trading platform — 4.3
Customer service — 4.5
Research — 4.8
Overall 5 better 4.3

Investment options

Which investment products First Demat and SMC Global let you access.

ParameterFirst DematSMC Global
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 SMC Global.

ParameterFirst DematSMC Global
Bracket Order ✕ No ✓ Yes better
Cover Order ✕ No ✓ Yes better
BTST ✓ Yes ✓ Yes
After Market (AMO) ✓ Yes ✓ Yes
GTC / GTT ✓ Yes better ✕ No

Safety & credibility

SEBI registration, financial strength and complaint record for First Demat and SMC Global.

ParameterFirst DematSMC Global
SEBI registration INZ000328330 INZ000199438
NSE member code 90479 (NSE membership number) 06611
Year of incorporation 2026 1994 longer track record
Net worth 6952 ₹3,215+ Cr stronger
Exchange memberships NSE · BSE · MCX NSE · BSE · MCX · NCDEX · MSEI
Latest complaint ratio 0.016% 0.004% fewer complaints

Complaints record

Exchange complaint data for First Demat and SMC Global — the ratio matters more than the raw count.

ParameterFirst DematSMC Global
Latest financial year 2025-26 2025–26
Exchange NSE NSE
Active clients 5,00,000 larger base 4,21,538
Complaints filed 80 17
Complaint ratio 0.016% 0.004% fewer complaints

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.
SMC Global

▲ Pros

  • ✓ Strong equity, commodity, and currency research.
  • ✓ Wide range of investment and wealth management products.
  • ✓ Large nationwide branch and franchise network.
  • ✓ Supports stocks, F&O, commodities, currencies, IPOs, mutual funds, bonds, PMS, and insurance.
  • ✓ Advanced web, mobile, and desktop trading platforms.
  • ✓ Dedicated relationship managers and advisory services.

▼ Cons

  • ✕ Brokerage charges are higher than discount brokers.
  • ✕ Annual Demat AMC is applicable.
  • ✕ Some advanced advisory services are available only to premium clients.
  • ✕ Trading platforms may have a steeper learning curve for beginners.
  • ✕ Call & Trade charges apply.
Open First Demat Account Open SMC Global Account

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Compare SMC Global with

SMC Global vs Zerodha SMC Global vs Groww SMC Global vs Bajaj Broking SMC Global vs Upstox SMC Global vs ICICI Direct SMC Global vs Kotak Neo SMC Global vs HDFC Securities SMC Global vs SBI Securities SMC Global vs Motilal Oswal SMC Global vs Paytm Money SMC Global vs Mirae Asset Sharekhan SMC Global vs Axis Direct SMC Global vs 5paisa SMC Global vs Choice Broking SMC Global vs m.Stock SMC Global vs Sahi SMC Global vs FYERS Securities SMC Global vs Anand Rathi SMC Global vs Jainam Broking Limited SMC Global vs Angel One
Disclaimer: Investments in the securities market are subject to market risks; read all related documents carefully before investing. This page is for information only and is not investment advice. Brokerage, AMC and other charges change frequently — always verify against the broker's official website before opening an account. Affiliate disclosure: "Open account" links are affiliate links and we may earn a commission at no extra cost to you; this does not influence our ratings.