Alice BlueSEBI INZ000156038
- Account opening
- ₹0
- Demat AMC
- ₹0
- SME IPOs
- Not stated
- Delivery brokerage
- ₹20 or 2.5%, lower
- Cost to sell ₹15,000 of IPO shares
- ₹41.30Brokerage 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 Alice Blue and Choice differ
4 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Alice Blue | Choice |
|---|---|---|
| One mainboard lot, ₹15,000₹5.90 less at Choice | ₹41.30 | ₹35.40 |
| Two SME lots, ₹2,50,000₹5.90 less at Choice | ₹41.30 | ₹35.40 |
| A year: 12 mainboard lots sold₹70.80 less at Choice | ₹495.60 | ₹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): ₹0 for life on the current plan at Alice Blue, Free in the first year, then ₹200 plus GST a year at Choice.
- Equity delivery brokerage: ₹20 or 2.5 per executed order, whichever is lower, as shown on the… at Alice Blue, 0.20% at Choice.
- DP charge on selling shares: ₹15 plus GST per scrip, on sales only at Alice Blue, ₹10 plus GST per instruction at Choice.
The same at both: account opening, Mainboard IPOs and SME IPOs.
Alice Blue vs Choice: charges side by side
Differs 4 of 7 charges differ between Alice Blue and Choice. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Alice Blue | Choice |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | Free |
| Demat maintenance (AMC) | ₹0 for life on the current plan | Free in the first year, then ₹200 plus GST a year |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, with ₹0 brokerage | Yes, free |
| SME IPOs | Not stated on the pages we checked | Not stated on the pages we checked |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹20 or 2.5 per executed order, whichever is lower, as shown on the pricing page | 0.20% (the FAQ says 0.20% or ₹20, whichever is lower) |
| DP charge on selling shares | ₹15 plus GST per scrip, on sales only | ₹10 plus GST per instruction |
| Registration | ||
| SEBI registration | INZ000156038 | INZ000160131 |
For other trading, equity intraday, Futures and Margin trading (MTF) interest differ too. Intraday, futures, call and trade and margin charges are on the Alice Blue and Choice pages.
Alice Blue and Choice strengths and things worth checking
Alice Blue
Strengths
- ₹0 AMC for life
- IPO applications free
Worth checking
- Brokerage on delivery
Up to ₹20 per order.
- DP charge
₹15 plus GST per sale.
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: Alice Blue vs Choice
| Charge | Alice Blue | Choice |
|---|
Ours, with NSE rates. Change the trade to see what Alice Blue and Choice would each charge.
Other comparisons
Every comparison with Alice Blue or Choice, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Alice Blue or Choice?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹35.40 in broker charges at Choice and ₹41.30 at Alice Blue (our calculation). For two SME lots worth ₹2,50,000: Alice Blue ₹41.30, Choice ₹35.40 (our calculation, brokerage and DP charge with GST).
How much would the difference between Alice Blue and Choice be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Choice costs ₹70.80 less in broker charges (our calculation). Add the yearly AMC: Alice Blue: ₹0 for life on the current plan; Choice: Free in the first year, then ₹200 plus GST a year.
Can I apply for SME IPOs on Alice Blue and Choice?
Neither says clearly on its pages that SME IPOs can be applied for.
What is the demat AMC at Alice Blue and Choice?
Alice Blue: ₹0 for life on the current plan. Choice: Free in the first year, then ₹200 plus GST a year.
What brokerage do Alice Blue 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 Alice Blue and ₹23.60 at Choice (our calculation from their published rates).