5paisaSEBI INZ000010231
- Account opening
- ₹0
- Demat AMC
- ₹25/month + GST
- SME IPOs
- Yes
- Delivery brokerage
- ₹20/order
- Cost to sell ₹15,000 of IPO shares
- ₹38.94Brokerage and DP with GST, ours
ChoiceSEBI INZ000160131
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹200/yr + GST
- SME IPOs
- Not stated
- Delivery brokerage
- 0.20% or ₹20, lower
- Cost to sell ₹15,000 of IPO shares
- ₹35.40Brokerage and DP with GST, ours
Where 5paisa and Choice differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | 5paisa | Choice |
|---|---|---|
| One mainboard lot, ₹15,000₹3.54 less at Choice | ₹38.94 | ₹35.40 |
| Two SME lots, ₹2,50,000₹3.54 less at Choice | ₹38.94 | ₹35.40 |
| A year: 12 mainboard lots sold₹42.48 less at Choice | ₹467.28 | ₹424.80 |
Ours: brokerage and DP charge with 18% GST. STT and exchange charges are equal everywhere, so they are left out. SME bids are two lots.
- Demat maintenance (AMC): ₹25 a month plus GST, as listed on the pricing page at 5paisa, Free in the first year, then ₹200 plus GST a year at Choice.
- Equity delivery brokerage: ₹20 per executed order at 5paisa, 0.20% at Choice.
- DP charge on selling shares: ₹15.34 per scrip per day at 5paisa, ₹10 plus GST per instruction at Choice.
- SME IPOs: Yes, SME IPOs are listed with an apply option at 5paisa, not stated at Choice.
The same at both: account opening and Mainboard IPOs.
5paisa vs Choice: charges side by side
Differs 5 of 7 charges differ between 5paisa and Choice. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | 5paisa | Choice |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | Free |
| Demat maintenance (AMC) | ₹25 a month plus GST, as listed on the pricing page | Free in the first year, then ₹200 plus GST a year |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, in the current IPO section | Yes, free |
| SME IPOs | Yes, SME IPOs are listed with an apply option | Not stated on the pages we checked |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹20 per executed order | 0.20% (the FAQ says 0.20% or ₹20, whichever is lower) |
| DP charge on selling shares | ₹15.34 per scrip per day | ₹10 plus GST per instruction |
| Registration | ||
| SEBI registration | INZ000010231 | INZ000160131 |
For other trading, equity intraday, Futures, Call and trade and Margin trading (MTF) interest differ too. Intraday, futures, call and trade and margin charges are on the 5paisa and Choice pages.
5paisa and Choice strengths and things worth checking
5paisa
Strengths
- Cheaper dealer orders
- ₹0 pledge
- SME IPOs
Worth checking
- Two pages, two headline prices
The brokerage charges page shows ₹0 "for all trades" while the pricing page lists ₹20 per order. Confirm which applies before you open an account.
- AMC
₹25 a month plus GST as listed.
- Flat ₹20 on delivery
Even small IPO share sales pay ₹20 brokerage.
Choice
Strengths
- Low DP charge
- Low AMC
- Free auto square-off
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.
Brokerage calculator: 5paisa vs Choice
| Charge | 5paisa | Choice |
|---|
Ours, with NSE rates. Change the trade to see what 5paisa and Choice would each charge.
Other comparisons
Every comparison with 5paisa or Choice, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, 5paisa or Choice?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹35.40 in broker charges at Choice and ₹38.94 at 5paisa (our calculation). For two SME lots worth ₹2,50,000: 5paisa ₹38.94, Choice ₹35.40 (our calculation, brokerage and DP charge with GST).
How much would the difference between 5paisa and Choice be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Choice costs ₹42.48 less in broker charges (our calculation). Add the yearly AMC: 5paisa: ₹25 a month plus GST, as listed on the pricing page; Choice: Free in the first year, then ₹200 plus GST a year.
Can I apply for SME IPOs on 5paisa and Choice?
5paisa lets you apply for SME IPOs; Choice does not say so on the pages we checked.
What is the demat AMC at 5paisa and Choice?
5paisa: ₹25 a month plus GST, as listed on the pricing page. Choice: Free in the first year, then ₹200 plus GST a year.
What brokerage do 5paisa and Choice charge when I sell IPO shares?
Selling allotted shares is a delivery trade. On a ₹15,000 sale the brokerage with GST is ₹23.60 at 5paisa and ₹23.60 at Choice (our calculation from their published rates).