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
INDmoneySEBI INZ000305337
- Account opening
- ₹0
- Demat AMC
- ₹0
- SME IPOs
- No
- Delivery brokerage
- ₹20 or 0.1%, lower
- Cost to sell ₹15,000 of IPO shares
- ₹39.53Brokerage and DP with GST, ours
Where Alice Blue and INDmoney differ
4 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Alice Blue | INDmoney |
|---|---|---|
| One mainboard lot, ₹15,000₹1.77 less at INDmoney | ₹41.30 | ₹39.53 |
| Two SME lots, ₹2,50,000₹4.13 less at Alice Blue | ₹41.30 | ₹45.43 |
| A year: 12 mainboard lots sold₹21.24 less at INDmoney | ₹495.60 | ₹474.36 |
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.
- Equity delivery brokerage: ₹20 or 2.5 per executed order, whichever is lower, as shown on the… at Alice Blue, 0.1% or ₹20 per executed order, whichever is lower, minimum ₹2 at INDmoney.
- DP charge on selling shares: ₹15 plus GST per scrip, on sales only at Alice Blue, ₹18.50 plus GST per ISIN at INDmoney.
- SME IPOs: not stated at Alice Blue, Not yet. INDmoney says it does not currently support SME IPOs at INDmoney.
The same at both: account opening, Demat maintenance (AMC) and Mainboard IPOs.
Alice Blue vs INDmoney: charges side by side
Differs 4 of 7 charges differ between Alice Blue and INDmoney. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Alice Blue | INDmoney |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | ₹0 |
| Demat maintenance (AMC) | ₹0 for life on the current plan | ₹0 |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, with ₹0 brokerage | Yes |
| SME IPOs | Not stated on the pages we checked | Not yet. INDmoney says it does not currently support SME IPOs |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹20 or 2.5 per executed order, whichever is lower, as shown on the pricing page | 0.1% or ₹20 per executed order, whichever is lower, minimum ₹2 |
| DP charge on selling shares | ₹15 plus GST per scrip, on sales only | ₹18.50 plus GST per ISIN (₹3.50 CDSL and ₹15 INDstocks; ₹3.25 and ₹15.25 for women) |
| Registration | ||
| SEBI registration | INZ000156038 | INZ000305337 |
For other trading, equity intraday, Futures and Call and trade differ too. Intraday, futures, call and trade and margin charges are on the Alice Blue and INDmoney pages.
Alice Blue and INDmoney 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.
INDmoney
Strengths
- ₹0 AMC and account opening
- Low minimum brokerage
Worth checking
- Desk orders are expensive
₹500 per order through the trading desk.
- DP charge
₹18.50 plus GST per sale.
- No SME IPOs yet
INDmoney says SME IPO applications are not supported at the moment.
Brokerage calculator: Alice Blue vs INDmoney
| Charge | Alice Blue | INDmoney |
|---|
Ours, with NSE rates. Change the trade to see what Alice Blue and INDmoney would each charge.
Other comparisons
Every comparison with Alice Blue or INDmoney, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Alice Blue or INDmoney?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹39.53 in broker charges at INDmoney and ₹41.30 at Alice Blue (our calculation). For two SME lots worth ₹2,50,000: Alice Blue ₹41.30, INDmoney ₹45.43 (our calculation, brokerage and DP charge with GST).
How much would the difference between Alice Blue and INDmoney be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, INDmoney costs ₹21.24 less in broker charges (our calculation). Add the yearly AMC: Alice Blue: ₹0 for life on the current plan; INDmoney: ₹0.
Can I apply for SME IPOs on Alice Blue and INDmoney?
Neither says clearly on its pages that SME IPOs can be applied for.
What brokerage do Alice Blue and INDmoney 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 ₹17.70 at INDmoney (our calculation from their published rates).
What DP charge do Alice Blue and INDmoney take when I sell IPO shares?
For one sale of ₹15,000, with GST: ₹17.70 at Alice Blue; ₹21.83 at INDmoney (our calculation). It is charged on each sale from your demat account.