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
Indiabulls SecuritiesSEBI INZ000036136
- Account opening
- ₹0
- Demat AMC
- ₹25/month + GST
- SME IPOs
- Yes
- Delivery brokerage
- ₹11 or 2.5%, lower
- Cost to sell ₹15,000 of IPO shares
- ₹36.58Brokerage and DP with GST, ours
Where 5paisa and Indiabulls Securities differ
4 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | 5paisa | Indiabulls Securities |
|---|---|---|
| One mainboard lot, ₹15,000₹2.36 less at Indiabulls Securities | ₹38.94 | ₹36.58 |
| Two SME lots, ₹2,50,000₹33.04 less at 5paisa | ₹38.94 | ₹71.98 |
| A year: 12 mainboard lots sold₹28.32 less at Indiabulls Securities | ₹467.28 | ₹438.96 |
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, ₹25 plus GST a month on the pricing page at Indiabulls Securities.
- Equity delivery brokerage: ₹20 per executed order at 5paisa, 2.5% or ₹11 per executed order, whichever is lower at Indiabulls Securities.
- DP charge on selling shares: ₹15.34 per scrip per day at 5paisa, ₹20 or 0.02% of the value, whichever is higher, plus GST, when sold… at Indiabulls Securities.
The same at both: account opening, Mainboard IPOs and SME IPOs.
5paisa vs Indiabulls Securities: charges side by side
Differs 4 of 7 charges differ between 5paisa and Indiabulls Securities. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | 5paisa | Indiabulls Securities |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | ₹0 |
| Demat maintenance (AMC) | ₹25 a month plus GST, as listed on the pricing page | ₹25 plus GST a month on the pricing page; ₹300 a year plus GST on the DP schedule |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, in the current IPO section | Yes. The home page describes ASBA, where the money stays in your bank account until allotment |
| SME IPOs | Yes, SME IPOs are listed with an apply option | Yes, confirmed by Indiabulls Securities on 23 Oct 2026 (not yet stated on its pricing page) |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹20 per executed order | 2.5% or ₹11 per executed order, whichever is lower |
| DP charge on selling shares | ₹15.34 per scrip per day | ₹20 or 0.02% of the value, whichever is higher, plus GST, when sold through Indiabulls Securities (₹30 or 0.03% otherwise) |
| Registration | ||
| SEBI registration | INZ000010231 | INZ000036136 |
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 Indiabulls Securities pages.
5paisa and Indiabulls Securities 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.
Indiabulls Securities
Strengths
- Flat ₹11 per order
- ₹0 account opening
- Fixed MTF rate
- SME IPOs
Worth checking
- Brokerage on delivery
₹11 per order on delivery, where some brokers charge ₹0.
- AMC from the start
₹25 plus GST a month (₹300 plus GST a year); the pricing page does not mention a free first year.
Brokerage calculator: 5paisa vs Indiabulls Securities
| Charge | 5paisa | Indiabulls Securities |
|---|
Ours, with NSE rates. Change the trade to see what 5paisa and Indiabulls Securities would each charge.
Other comparisons
Every comparison with 5paisa or Indiabulls Securities, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, 5paisa or Indiabulls Securities?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹36.58 in broker charges at Indiabulls Securities and ₹38.94 at 5paisa (our calculation). For two SME lots worth ₹2,50,000: 5paisa ₹38.94, Indiabulls Securities ₹71.98 (our calculation, brokerage and DP charge with GST).
How much would the difference between 5paisa and Indiabulls Securities be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Indiabulls Securities costs ₹28.32 less in broker charges (our calculation). Add the yearly AMC: 5paisa: ₹25 a month plus GST, as listed on the pricing page; Indiabulls Securities: ₹25 plus GST a month on the pricing page.
Can I apply for SME IPOs on 5paisa and Indiabulls Securities?
Both let you apply for SME IPOs.
What is the demat AMC at 5paisa and Indiabulls Securities?
5paisa: ₹25 a month plus GST, as listed on the pricing page. Indiabulls Securities: ₹25 plus GST a month on the pricing page.
What brokerage do 5paisa and Indiabulls Securities 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 ₹12.98 at Indiabulls Securities (our calculation from their published rates).