HDFC Securities and First Demat are two stockbrokers that investors often compare for brokerage charges, products, trading platforms, and account costs. HDFC Securities is listed as a Private Discount Broker , established in 2000 and headquartered in Mumbai, while First Demat is listed as a Private Discount Broker , established in 2026 and headquartered in Ranchi, Jharkhand.
This comparison reviews brokerage, Demat charges, product availability, platforms, features, support, ratings, and complaints. Use the side-by-side tables below to see whether HDFC Securities or First Demat is a better fit for your investment style, platform preference, and budget.
HDFC Securities is listed as a Private Discount Broker established in 2000 with headquarters in Mumbai and founded by Dhiraj Relli. The broker highlights access to equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures through mobile app access, web trading and desktop terminal access and promotes features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and global indices tracking. It follows a Starter Pack – Lite 199 brokerage structure.
First Demat is listed as a Private Discount Broker established in 2026 with headquarters in Ranchi, Jharkhand and founded by Sandhya Kumari. It offers equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and mutual funds using mobile app access, web trading and algo trading support and supports traders with features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and customised recommendations. Its brokerage model is structured as Single flat plan on site; file says 'multiple brokerage packs'.
Both brokers use technology-driven platforms to attract active traders and investors, but the better option depends on the combination of pricing, products, services, and support that matters most to you.
HDFC Securities vs First Demat — A Comprehensive Company Overview
| Company Overview | HDFC Securities | First Demat |
|---|---|---|
| Company Type | Private | Private |
| Broker Type | Discount Broker | Discount Broker |
| Headquarters | Mumbai | Ranchi, Jharkhand |
| Founder | Dhiraj Relli | Sandhya Kumari |
| Establishment Year | 2000 | 2026 |
| Brokerage Plan | Starter Pack – Lite 199 | Single flat plan on site; file says 'multiple brokerage packs' |
Brokerage is the primary cost to compare when choosing a broker. Below is a segment-by-segment breakdown for HDFC Securities and First Demat.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. HDFC Securities charges 0.32% of Transaction Value while First Demat charges 0.1% or ₹20 per executed order, whichever is lower.
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. HDFC Securities charges 0.032% of Transaction Value while First Demat charges 0.1% or ₹20 per executed order, whichever is lower.
Equity futures: This charge applies to futures contracts on stocks and indices. HDFC Securities charges Rs.20 per Trade while First Demat charges Flat ₹20 per executed order.
Equity options: This charge applies to equity option contracts. HDFC Securities charges Rs.20 per Trade while First Demat charges Flat ₹20 per executed order.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. HDFC Securities charges 0.025% of Transaction Value while First Demat charges Starting ₹20 per order (not on pricing page).
Commodity options: This charge applies to option contracts on commodity instruments. HDFC Securities charges Rs.20 per Lot while First Demat charges Starting ₹20 per order (not on pricing page).
Currency futures: This charge allows participation in forex price movements on the exchange. HDFC Securities charges 0.025% of Transaction Value while First Demat charges Not offered.
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. HDFC Securities charges Rs.25 per Lot while First Demat charges Not offered.
HDFC Securities vs First Demat — Detailed Brokerage Comparison
| Brokerage | HDFC Securities | First Demat |
|---|---|---|
| Brokerage Plan | Starter Pack – Lite 199 | Single flat plan on site; file says 'multiple brokerage packs' |
| Subscription Charges | Zero | None listed; file says no monthly or yearly plans |
| Equity Delivery | 0.32% of Transaction Value | 0.1% or ₹20 per executed order, whichever is lower |
| Equity Intraday | 0.032% of Transaction Value | 0.1% or ₹20 per executed order, whichever is lower |
| Equity Future | Rs.20 per Trade | Flat ₹20 per executed order |
| Equity Option | Rs.20 per Trade | Flat ₹20 per executed order |
| Commodity Future | 0.025% of Transaction Value | Starting ₹20 per order (not on pricing page) |
| Commodity Option | Rs.20 per Lot | Starting ₹20 per order (not on pricing page) |
| Currency Future | 0.025% of Transaction Value | Not offered |
| Currency Option | Rs.25 per Lot | Not offered |
HDFC Securities provides mobile app access, web trading and desktop terminal access for order placement, portfolio tracking, and market monitoring. First Demat provides mobile app access, web trading and algo trading support for its users.
Android app: HDFC Securities and First Demat both list an Android trading app.
iOS app: HDFC Securities and First Demat both list an iOS trading app.
Web trading platform: HDFC Securities and First Demat both list a web trading platform.
Desktop trading terminal: HDFC Securities lists a desktop trading terminal, while First Demat does not currently mention it.
Algo trading: First Demat lists algo trading support, while HDFC Securities does not currently mention it.
Basket trading: HDFC Securities and First Demat both list basket trading.
Foreign stocks platform: HDFC Securities lists foreign stocks access, while First Demat does not currently mention it.
Mutual fund platform: HDFC Securities and First Demat both list a mutual fund investment platform.
Digital gold platform: First Demat lists digital gold investing, while HDFC Securities does not currently mention it.
Bonds platform: HDFC Securities lists a bonds investment platform, while First Demat does not currently mention it.
HDFC Securities vs First Demat — Complete Comparison of Trading Platforms
| Trading Platform | HDFC Securities | First Demat |
|---|---|---|
| Android App | HDFC Securities Android App Link | Yes |
| iOS App | HDFC Securities iOS App Link | Yes |
| Web Trading Platform | HDFC Securities Web Trading Link | Yes |
| Trading Terminal | Available | N/A |
| Algo Trading Platform | NA | Yes |
| Foreign Stocks Platform | Available | No |
| Basket Trading Platform | Available | Yes (Baskets and basket orders) |
| Mutual Fund Platform | Available | Yes |
| Digital Gold Platform | NA | Not offered |
| Bonds Platform | Available | No |
HDFC Securities highlights trading features including watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and global indices tracking, while First Demat promotes watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and customised recommendations. The table below shows the full feature set for both brokers side by side.
Wishlist: Monitor specific stocks or assets by adding them to a watchlist for close tracking. Both HDFC Securities and First Demat offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both HDFC Securities and First Demat offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both HDFC Securities and First Demat offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Both HDFC Securities and First Demat offer this feature.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. Both HDFC Securities and First Demat offer this feature.
Global indices: Real-time data on leading global stock market indices. HDFC Securities offers this; First Demat does not currently highlight it.
Customised recommendations: Personalised investment suggestions based on your objectives and behaviour patterns. First Demat offers this; HDFC Securities does not currently highlight it.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Both HDFC Securities and First Demat offer this feature.
Live market: Live updates on market movements and trends. Both HDFC Securities and First Demat offer this feature.
Secure platform: A secure trading environment with next-generation security controls. Both HDFC Securities and First Demat offer this feature.
HDFC Securities vs First Demat — Comprehensive Comparison of Trading Features
| Trading Feature | HDFC Securities | First Demat |
|---|---|---|
| Wishlist | Yes | Yes (multiple watchlists) |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes (holdings and P&L reports) |
| Online MF Buy | Yes | Yes |
| Research Reports | Yes | Yes (AI research summaries) |
| Global Indices | Yes | N/A |
| Customised Recommendations | No | 'Personalised advisory' claimed on site |
| Stock Tips | No | N/A |
| Interactive Charts | Yes | Yes (TradingView integration, indicators) |
| Live Market | Yes | Yes |
| Multi Profile Management | No | N/A |
| Robust & Secure Platform | Yes | Yes ('Bank-grade security' claim) |
Stockbrokers use promotional offers to attract and retain clients. Below is a side-by-side comparison of the offers currently listed by HDFC Securities and First Demat.
Free account opening: First Demat lists free account opening, while HDFC Securities does not currently mention it.
Free AMC: First Demat lists free Demat AMC, while HDFC Securities does not currently mention it.
Free brokerage: Neither broker currently highlights free brokerage.
Flat brokerage: HDFC Securities and First Demat both list flat brokerage pricing.
Flexible brokerage plans: HDFC Securities lists flexible brokerage plans, while First Demat does not currently mention it.
Happy trading hours: Neither broker currently highlights happy trading hours.
Free delivery trading: Neither broker currently highlights free delivery trading.
Free intraday trading: Neither broker currently highlights free intraday trading.
Free F&O trading: Neither broker currently highlights free F&O trading.
Free research reports: HDFC Securities and First Demat both list free research reports.
Free trading calls: HDFC Securities lists free trading calls, while First Demat does not currently mention it.
Zero brokerage for loss trades: Neither broker currently highlights zero brokerage for loss-making trades.
Referral offers: HDFC Securities offers Rs.200 per Client for referrals; First Demat does not currently list a referral offer.
HDFC Securities vs First Demat — Comparison of Latest Offers
| Offer | HDFC Securities | First Demat |
|---|---|---|
| Free Account Opening | No | Yes (online); offline costs ₹500 |
| Free AMC | No | First year only |
| Free Brokerage | No | No |
| Flat Brokerage | Yes, Limited | Yes, ₹20 per order |
| Flexible Brokerage Plans | Yes | N/A |
| Happy Trading Hours | No | N/A |
| Free Delivery Trading | No | No |
| Free Intraday Trading | No | No |
| Free F&O Trading | No | No |
| Free Research Reports | Yes | Yes |
| Free Trading Calls | Yes | N/A |
| Referral Offers | Rs.200 per Client | N/A |
| Margin Funding / Pledging | Yes | MTF: No. Pledging available. |
| Brokerage Cashback | No | N/A |
| Zero Brokerage for Loss-Making Trades | No | No |
Product availability determines whether a broker can support your preferred markets. HDFC Securities highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures, while First Demat highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and mutual funds.
The table below compares the full product lineup side by side across equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options, currency futures, currency options, foreign stocks, mutual funds, banking services, insurance, corporate bonds, government bonds, bonds and digital gold.
HDFC Securities vs First Demat — Complete Comparison of Products
| Product | HDFC Securities | First Demat |
|---|---|---|
| Equity Delivery | Yes | Yes |
| Equity Intraday | Yes | Yes |
| Equity Option | Yes | Yes |
| Equity Future | Yes | Yes |
| Commodity Option | Yes | Yes (file; MCX member). Not in site FAQ. |
| Commodity Future | Yes | Yes (file; MCX member). Not in site FAQ. |
| Currency Option | Yes | No |
| Currency Future | Yes | No |
| Foreign Stocks | Yes | No |
| Mutual Funds | Yes | Yes (SIP too) |
| Banking | Yes | No |
| Insurance | Yes | No |
| Corporate Bonds | Yes | No |
| Government Bonds | Yes | No |
| Digital Gold | No | No |
Demat services: HDFC Securities and First Demat both list Demat services.
Trading services: HDFC Securities and First Demat both list trading services.
Intraday services: HDFC Securities and First Demat both list intraday trading services.
F&O services: HDFC Securities and First Demat both list F&O services.
IPO services: HDFC Securities and First Demat both list IPO services.
3-in-1 account: HDFC Securities lists 3-in-1 account support, while First Demat does not currently mention it.
Stock research: HDFC Securities and First Demat both list stock research.
Stock recommendations: HDFC Securities and First Demat both list stock recommendations.
Trading education: Neither broker currently highlights trading education.
Share pledging: HDFC Securities and First Demat both list share pledging.
PMS or PCG: HDFC Securities lists PMS or PCG support, while First Demat does not currently mention it.
NRI services: HDFC Securities lists NRI services, while First Demat does not currently mention it.
HDFC Securities provides Demat services, trading services, intraday trading, F&O trading, IPO access and 3-in-1 account support, while First Demat offers Demat services, trading services, intraday trading, F&O trading, IPO access and stock research.
HDFC Securities vs First Demat — In-Depth Comparison of Services
| Service | HDFC Securities | First Demat |
|---|---|---|
| Demat Services | Yes | Yes (NSDL, DP ID IN303921 via Ashlar Securities Pvt Ltd) |
| Trading Services | Yes | Yes |
| Intraday Services | Yes | Yes |
| F&O Services | Yes | Yes |
| IPO Services | Yes | Yes (UPI application) |
| 3-in-1 Account | Yes | No |
| Stock Research | Yes | Yes (AI summaries) |
| Stock Recommendations | Yes | Not provided (T&C disclaimer) |
| Trading Education | No | N/A |
| Share Pledging | Yes | Yes |
| PMS or PCG | Yes | No |
| NRI Services | Yes | No |
Stock advisory helps investors choose appropriate stocks through research reports, tips, and market reviews. The table below shows which advisory products are available from HDFC Securities and First Demat.
HDFC Securities and First Demat — Detailed Comparison of Advisory Services
| Advisory | HDFC Securities | First Demat |
|---|---|---|
| Fundamental Reports | Yes | AI fundamental insights |
| Research Reports | Yes | Yes |
| Company Reports | Yes | N/A |
| Annual Reports | Yes | N/A |
| IPO Reports | Yes | IPO insights on site |
| Technical Reports | Yes | N/A |
| Stock Tips | Yes | N/A |
| Daily Top Stock Picks | Yes | N/A |
| Daily Market Review | Yes | Yes |
| Monthly Review | Yes | N/A |
| Weekly Review | Yes | N/A |
| Relationship Manager | No | N/A |
| Robo Advisory | No | N/A |
Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from HDFC Securities and First Demat across different segments.
HDFC Securities and First Demat — Comprehensive Comparison of Trading Exposure
| Exposure | HDFC Securities | First Demat |
|---|---|---|
| Equity Delivery | 1x | N/A |
| Equity Intraday | Upto 5x (Depends on Stocks) | N/A |
| Equity F&O Carry Forward | 1x | N/A |
| Equity F&O Intraday | 1.3x | N/A |
| Commodity F&O Carry Forward | 1x | N/A |
| Commodity F&O Intraday | 1.3x | N/A |
| Currency F&O | 1x | N/A |
HDFC Securities lists a sub-broker program, while First Demat does not currently mention it. HDFC Securities lists a partner program, while First Demat does not currently mention it. HDFC Securities lists a referral program, while First Demat does not currently mention it.
HDFC Securities vs First Demat — Comparative Analysis of Programs
| Program | HDFC Securities | First Demat |
|---|---|---|
| Sub-Broker Program | Yes, Limited | N/A |
| Partner Program | Yes | N/A |
| Referral Program | Yes | N/A |
HDFC Securities provides support through trading desk support, dedicated dealer assistance, call support, website support and Facebook support. First Demat provides support through trading desk support, call support, email support and website support. HDFC Securities operates Available branches. First Demat operates Only Ranchi head office listed branches.
HDFC Securities and First Demat — Comprehensive Comparison of Customer Support
| Support Channel | HDFC Securities | First Demat |
|---|---|---|
| Trading Support | Available, Free | Yes |
| Dedicated Dealer | Available, Free | N/A |
| Call Support | 022-39019400 | +91 9240256357 |
| Email Support | NA | [email protected] |
| WhatsApp Support | NA | N/A |
| Website Support | Website Link | Yes |
| Facebook Support | Facebook Support Link | — |
| Twitter / X Support | Twitter Support Link | — |
| Telegram Support | Telegram Support Link | — |
| Branches / Offices | Available | Only Ranchi head office listed |
Both brokers have been evaluated across key parameters to help investors make an informed comparison. HDFC Securities carries an overall rating of 9.50 / 10, while First Demat carries an overall rating of 5/5.
HDFC Securities vs First Demat — Ratings Comparison
| Rating Parameter | HDFC Securities | First Demat |
|---|---|---|
| Overall Rating | 9.50 / 10 | 5/5 |
| Customer Support | 9.46 / 10 | 5 / 5 |
| Technology | 9.61 / 10 | 4.5 / 5 |
| Charges | 9.53 / 10 | 4.5 / 5 |
| Products & Services | 9.44 / 10 | 4.0 / 5 |
| Experience | 9.42 / 10 | 5 / 5 |
SEBI, BSE, and NSE regularly publish broker complaint data as part of investor protection oversight. The table below shows the complaint records for both brokers.
HDFC Securities & First Demat — Comparison of Customer Complaints
| Complaint Metric | HDFC Securities | First Demat |
|---|---|---|
| Total Complaints Lodged | 129 | N/A |
| Total Complaints Resolved | 104 | N/A |
| % of Resolved Complaints | 80.62% | N/A |
| Non-Actionable Complaints | 8 | N/A |
| % of Non-Actionable Complaints | 6.20% | N/A |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for HDFC Securities and First Demat.
HDFC Securities vs First Demat — Detailed Comparison of Transaction Charges
| Transaction Charges | HDFC Securities | First Demat |
|---|---|---|
| Equity Delivery | NSE Rs 297 per Cr (0.00297%) | BSE Rs 375 per Cr (0.00375%) (each side) | NSE: 0.00307%; BSE: 0.00375% |
| Equity Intraday | NSE Rs 297 per Cr (0.00297%) | BSE Rs 375 per Cr (0.00375%) (sell side) | NSE: 0.00307%; BSE: 0.00375% |
| Equity Future | NSE Rs 173 per Cr (0.00173%) | BSE Rs 0 | NSE: 0.00183%; BSE: 0 |
| Equity Option | NSE Rs 3503 per Cr (0.03503%) | BSE Rs 325 per Cr (0.00325%) (on premium) | NSE: 0.03553% (on premium); BSE: 0.0325% (on premium) |
| Commodity Future | N/A | |
| Commodity Option | N/A | |
| Currency Future | NSE Rs 35 per Cr (0.00035%) | BSE Rs 45 per Cr (0.00045%) | N/A |
| Currency Option | NSE Rs 3110 per Cr (0.0311%) | BSE Rs 100 per Cr (0.001%) (on premium) | N/A |
Pledge creation charges apply when traders borrow against their held securities. Pledge invocation charges apply if the pledged shares are sold due to a shortfall. Margin trading interest is the rate charged on borrowed funds.
HDFC Securities & First Demat — Comprehensive Comparison of Pledge Charges
| Pledge Charge | HDFC Securities | First Demat |
|---|---|---|
| Pledge Creation Charges | ₹3 + GST (margin pledge); site demat tariff table is empty | |
| Pledge Invocation Charges | ₹25 + GST per transaction (pledge/unpledge) | |
| Margin Trading Interest | N/A (no MTF) |
Beyond brokerage, several statutory and operational charges apply. These include SEBI turnover fees, DP charges, GST, account closure, reactivation, dematerialisation, and call & trade charges.
HDFC Securities and First Demat — Detailed Comparison of Hidden / Other Charges
| Charge | HDFC Securities | First Demat |
|---|---|---|
| SEBI Turnover Charges | 0.0001% (₹10/Crore) of the turnover | ₹10 per crore |
| DP Charges | ₹20 + GST per ISIN debit | |
| GST | 18% on (Brokerage + Transaction Charge + SEBI Fee) | 18% on brokerage + SEBI charges + transaction charges |
| Account Closure Charges | N/A | |
| Reactivation Charges | N/A | |
| Dematerialisation Charges | ₹20 per DRF + ₹3 per certificate | |
| Call & Trade Charges | ₹50 per trade (site); file says ₹50 + GST |
HDFC Securities lists account opening charges of Rs.199 and Demat AMC of Rs.750 per Year. First Demat lists account opening charges of Online ₹0; offline ₹500 and Demat AMC of ₹0 for first year; later years not disclosed.
HDFC Securities vs First Demat — Detailed Comparison of Demat Charges
| Demat Charges | HDFC Securities | First Demat |
|---|---|---|
| Account Opening Charges | Rs.199 | Online ₹0; offline ₹500 |
| Annual Maintenance Charges (AMC) | Rs.750 per Year | ₹0 for first year; later years not disclosed |
Securities Transaction Tax (STT) and Commodity Transaction Tax (CTT) are government levies — the same for all brokers in India. These are shown below for reference.
HDFC Securities vs First Demat — Comparative Analysis of STT and CTT Charges
| STT & CTT | HDFC Securities | First Demat |
|---|---|---|
| Equity Delivery | 0.1% of total transaction value | 0.1% on buy and sell |
| Equity Intraday | 0.025% of turnover | 0.025% on sell |
| Equity Future | 0.01% of turnover | 0.05% on sell |
| Equity Option | 0.05% | 0.15% on sell (premium); 0.15% of intrinsic value on exercise |
| Commodity Future | 0.01% | N/A |
| Commodity Option | 0.05% | N/A |
| Currency Future | - | N/A |
| Currency Option | - | N/A |
Stamp duty is a government tax charged when the broker issues, sells, or transfers a security. It is collected at the end of each trading day.
HDFC Securities and First Demat — Comparison of Stamp Duty Charges
| Stamp Duty | HDFC Securities | First Demat |
|---|---|---|
| Equity Delivery | 0.015% | 0.015% or ₹1500/crore |
| Equity Intraday | 0.003% | 0.003% or ₹300/crore |
| Equity Future | 0.002% | 0.002% or ₹200/crore |
| Equity Option | 0.003% | 0.003% or ₹300/crore |
| Commodity Future | 0.002% | N/A |
| Commodity Option | 0.003% (MCX) | N/A |
| Currency Future | 0.0001% | N/A |
| Currency Option | 0.0001% | N/A |