Open an account
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹200/yr + GST
Apply for IPOs
- Mainboard IPOs
- Yes
- SME IPOs
- Not stated
Sell your IPO shares
- Delivery brokerage
- 0.20% or ₹20, lower
- DP charge on a sale
- ₹10 plus GST per instruction
- Cost to sell ₹15,000 of IPO shares
- ₹35.40Brokerage and DP with GST, ours
Choice: strengths and things worth checking
Worth checking
- Page has conflicting figures
Options brokerage and pledge charges differ between the table and the text. Confirm with Choice.
- MTF at 18%
Margin trading interest is 18% a year.
Strengths
- Low DP charge
₹10 plus GST per sale.
- Low AMC
₹200 plus GST a year after the first year.
- Free auto square-off
No extra charge.
Company and registration
| Company | Choice Equity Broking Private Limited |
|---|---|
| SEBI stockbroker registration | INZ000160131 |
| Depository participant | IN-DP-84-2015 |
| Website | choiceindia.com |
Choice account opening and AMC charges
| Charge | As published by Choice |
|---|---|
| Account opening | Free |
| Demat maintenance (AMC) | Free in the first year, then ₹200 plus GST a year |
Choice brokerage charges
| Segment | Brokerage |
|---|---|
| Equity deliveryWhen you sell IPO shares | 0.20% (the FAQ says 0.20% or ₹20, whichever is lower) |
| Equity intraday | 0.02% (FAQ: or ₹20, whichever is lower) |
| Futures | 0.02% (FAQ: or ₹20, whichever is lower) |
| Options | ₹25 per lot in the table; ₹20 per lot in the text |
| Commodity | Futures 0.02%; options ₹50 per lot |
| Mutual funds and IPOs | Free |
Other Choice charges
| Charge | As published by Choice |
|---|---|
| DP charge on selling delivery sharesWhen you sell IPO shares | ₹10 plus GST per instruction |
| Auto square-off | Zero |
| Pledge | ₹10 plus GST per ISIN for margin; ₹15 plus GST for MTF |
| Margin trading (MTF) interest | 18% a year |
Sources: Choice brokerage charges, read on 23 Oct 2026. GST at 18% applies on brokerage and most charges unless stated. Charges change; check Choice's page before you open an account.
Government and exchange charges
These are set by the government, SEBI and the exchanges, and are the same at every broker.
| Charge | Equity delivery | Equity intraday |
|---|---|---|
| Securities transaction tax (STT) | 0.1% on buy and sell | 0.025% on sell |
| Exchange transaction charge | NSE 0.00307%, BSE 0.00375% | NSE 0.00307%, BSE 0.00375% |
| SEBI fee | ₹10 per crore | ₹10 per crore |
| Stamp duty (buy side) | 0.015% | 0.003% |
| GST | 18% on brokerage, exchange and SEBI charges | 18% on brokerage, exchange and SEBI charges |
Government and exchange rates as listed on the Zerodha and Indiabulls Securities charges pages, read on 23 Oct 2026.
What it costs to sell your IPO shares on Choice
Applying for an IPO carries no brokerage. Costs come when you sell. For IPO shares worth ₹15,000 sold from your demat account (our calculation):
| Choice brokerage | ₹20.00 |
| GST on brokerage | ₹3.60 |
| DP charge with GST | ₹11.80 |
| Charged by Choice | ₹35.40 |
|---|---|
| STT (0.1%) | ₹15.00 |
| Exchange and SEBI charges | ₹0.48 |
| All charges on the sale | ₹50.97 |
Choice brokerage calculator
Enter a trade to see every charge. The example is one SME lot of 800 shares bought at ₹179 and sold at ₹190.
| Charge | Choice |
|---|
Our calculation from each broker's published charges and the government and exchange rates above (NSE). For delivery, the DP charge is added once on the sale. Where a broker does not publish a charge, it shows as not published.
Applying for IPOs on Choice
| Mainboard IPOs | Yes, free |
|---|---|
| SME IPOs | Not stated on the pages we checked |
How to apply for an IPO on Choice
- Find the IPO. Open the IPO section of the Choice app or website while bidding is open, and pick the IPO.
- Enter your bid. Enter the number of lots and either tick cut-off price or enter a price within the band. SME IPOs need a price; cut-off is not allowed.
- Approve the UPI mandate. Approve the mandate in your UPI app before 5 pm on the closing day. The money is blocked, not debited, until allotment.
- Check allotment and sell if you choose. Allotted shares reach your Choice demat account the next working day. You can sell from the listing day.
Any demat account also lets you apply through ASBA in your bank's net banking. See the IPOs open this week.
How to open a Choice account
- Keep your documents ready. PAN, Aadhaar linked to your mobile number, a bank account with a cancelled cheque or statement, and your signature on white paper.
- Start on choiceindia.com. Sign up on the Choice website or app with your mobile number and email, and verify the OTPs.
- Complete KYC online. Enter your PAN and Aadhaar details, link your bank account, and upload a photo and signature. Most brokers also do in-person verification by video or selfie.
- E-sign the form. Sign the account opening form with an Aadhaar OTP. The account is usually active within one or two working days.
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Frequently asked questions
What are the Choice account opening charges?
Free. Demat AMC: Free in the first year, then ₹200 plus GST a year.
What is the Choice brokerage on delivery?
0.20% (the FAQ says 0.20% or ₹20, whichever is lower). Intraday: 0.02% (FAQ: or ₹20, whichever is lower).
What is the Choice DP charge?
₹10 plus GST per instruction. The DP charge is collected each time you sell shares from your demat account, including IPO shares.
Can I apply for SME IPOs on Choice?
Choice's own pages we checked do not say whether SME IPOs can be applied for. Ask Choice before the IPO opens.
How do I apply for an IPO on Choice?
Open the IPO section of the Choice app, pick the IPO, enter the lots and price (or cut-off for mainboard IPOs), and approve the UPI mandate before 5 pm on the closing day.
What does it cost to sell IPO shares on Choice?
Selling ₹15,000 of IPO shares costs ₹35.40 in Choice brokerage and DP charge with GST, and ₹50.97 in all after STT, exchange and SEBI charges (our calculation).
Is Choice registered with SEBI?
Yes. Choice Equity Broking Private Limited is registered with SEBI as a stockbroker, INZ000160131, and as a depository participant, IN-DP-84-2015. You can confirm it on the SEBI website.
What is the Choice margin trading (MTF) interest rate?
18% a year.
Is Choice good for IPO investors?
It depends on how you invest. Compare the yearly AMC, the cost to sell IPO shares and SME IPO access below with other brokers. We list facts from Choice's own website and do not rate or rank brokers.