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
PhonePe Invest (Share.Market)SEBI INZ000302639
- Account opening
- Not stated
- Demat AMC
- Not stated
- SME IPOs
- Not stated
- Delivery brokerage
- ₹20 or 0.05%, lower
- Cost to sell ₹15,000 of IPO shares
- Not publishedBrokerage and DP with GST, ours
Where Alice Blue and PhonePe Invest (Share.Market) differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Alice Blue | PhonePe Invest (Share.Market) |
|---|---|---|
| One mainboard lot, ₹15,000Brokerage ₹14.75 less at PhonePe Invest (Share.Market); a DP charge is not published | ₹41.30 | ₹8.85 brokerage; DP charge not published |
| Two SME lots, ₹2,50,000Same brokerage at both; a DP charge is not published | ₹41.30 | ₹23.60 brokerage; DP charge not published |
| A year: 12 mainboard lots soldBrokerage ₹177.00 less at PhonePe Invest (Share.Market); a DP charge is not published | ₹495.60 | ₹106.20 brokerage; DP charge not published |
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.
- Account opening: ₹0 at Alice Blue, not stated at PhonePe Invest (Share.Market).
- Demat maintenance (AMC): ₹0 for life on the current plan at Alice Blue, not stated at PhonePe Invest (Share.Market).
- Equity delivery brokerage: ₹20 or 2.5 per executed order, whichever is lower, as shown on the… at Alice Blue, ₹20 or 0.05% per executed order, whichever is lower at PhonePe Invest (Share.Market).
- DP charge on selling shares: ₹15 plus GST per scrip, on sales only at Alice Blue, not stated at PhonePe Invest (Share.Market).
The same at both: mainboard IPOs and SME IPOs.
Alice Blue vs PhonePe Invest (Share.Market): charges side by side
Differs 5 of 7 charges differ between Alice Blue and PhonePe Invest (Share.Market). Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Alice Blue | PhonePe Invest (Share.Market) |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | Not stated on the pages we checked |
| Demat maintenance (AMC) | ₹0 for life on the current plan | Not stated on the pages we checked |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, with ₹0 brokerage | Yes |
| 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 | ₹20 or 0.05% per executed order, whichever is lower |
| DP charge on selling shares | ₹15 plus GST per scrip, on sales only | Not stated on the pages we checked |
| Registration | ||
| SEBI registration | INZ000156038 | INZ000302639 |
For other trading, futures and Call and trade differ too. Intraday, futures, call and trade and margin charges are on the Alice Blue and PhonePe Invest (Share.Market) pages.
Alice Blue and PhonePe Invest (Share.Market) 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.
PhonePe Invest (Share.Market)
Strengths
- Low cap on small orders
Worth checking
- Account and DP charges not on the tariff page
The tariff page we read lists no account opening, AMC or DP charge.
- Dealer orders
₹30 extra per order for call and trade or auto square-off.
Brokerage calculator: Alice Blue vs PhonePe Invest (Share.Market)
| Charge | Alice Blue | PhonePe Invest (Share.Market) |
|---|
Ours, with NSE rates. Change the trade to see what Alice Blue and PhonePe Invest (Share.Market) would each charge.
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Every comparison with Alice Blue or PhonePe Invest (Share.Market), or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Alice Blue or PhonePe Invest (Share.Market)?
PhonePe Invest (Share.Market) does not publish its DP charge, so the full cost of selling IPO shares cannot be compared. On brokerage alone, one mainboard lot (₹15,000) costs ₹14.75 less at PhonePe Invest (Share.Market) (our calculation). For two SME lots worth ₹2,50,000: Alice Blue ₹41.30, PhonePe Invest (Share.Market) ₹23.60 brokerage; DP charge not published (our calculation, brokerage and DP charge with GST).
How much would the difference between Alice Blue and PhonePe Invest (Share.Market) be over a year?
Not in full, because PhonePe Invest (Share.Market) does not publish its DP charge. On brokerage alone, 12 mainboard lots of ₹15,000 cost ₹177.00 less at PhonePe Invest (Share.Market) (our calculation).
Can I apply for SME IPOs on Alice Blue and PhonePe Invest (Share.Market)?
Neither says clearly on its pages that SME IPOs can be applied for.
Is account opening free at Alice Blue and PhonePe Invest (Share.Market)?
Alice Blue: ₹0. PhonePe Invest (Share.Market): not stated.
What is the demat AMC at Alice Blue and PhonePe Invest (Share.Market)?
Alice Blue: ₹0 for life on the current plan. PhonePe Invest (Share.Market): not stated.