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
UpstoxSEBI INZ000315837
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹300/yr + GST
- SME IPOs
- Yes
- Delivery brokerage
- ₹20/order
- Cost to sell ₹15,000 of IPO shares
- ₹47.20Brokerage and DP with GST, ours
Where Alice Blue and Upstox differ
4 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Alice Blue | Upstox |
|---|---|---|
| One mainboard lot, ₹15,000₹5.90 less at Alice Blue | ₹41.30 | ₹47.20 |
| Two SME lots, ₹2,50,000₹5.90 less at Alice Blue | ₹41.30 | ₹47.20 |
| A year: 12 mainboard lots sold₹70.80 less at Alice Blue | ₹495.60 | ₹566.40 |
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, ₹0 in the first year for new customers, then ₹300 plus GST a year at Upstox.
- DP charge on selling shares: ₹15 plus GST per scrip, on sales only at Alice Blue, ₹20 plus GST per scrip per day at Upstox.
- SME IPOs: not stated at Alice Blue, Yes, using the SME IPO filter in the IPO section. SME bids need a… at Upstox.
The same at both: account opening, Equity delivery brokerage and Mainboard IPOs.
Alice Blue vs Upstox: charges side by side
Differs 4 of 7 charges differ between Alice Blue and Upstox. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Alice Blue | Upstox |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | ₹0 |
| Demat maintenance (AMC) | ₹0 for life on the current plan | ₹0 in the first year for new customers, then ₹300 plus GST a year (BSDA accounts have separate terms) |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, with ₹0 brokerage | Yes, in the IPO section of the app with a UPI mandate |
| SME IPOs | Not stated on the pages we checked | Yes, using the SME IPO filter in the IPO section. SME bids need a price; cut-off is not allowed |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹20 or 2.5 per executed order, whichever is lower, as shown on the pricing page | ₹20 per executed order |
| DP charge on selling shares | ₹15 plus GST per scrip, on sales only | ₹20 plus GST per scrip per day (₹3.50 CDSL and ₹16.50 Upstox; ₹3.25 and ₹16.75 for women) |
| Registration | ||
| SEBI registration | INZ000156038 | INZ000315837 |
For other trading, equity intraday, Call and trade and Margin trading (MTF) interest differ too. Intraday, futures, call and trade and margin charges are on the Alice Blue and Upstox pages.
Alice Blue and Upstox 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.
Upstox
Strengths
- Zero commission on IPOs
- ₹0 account opening
- SME IPOs in the app
Worth checking
- Flat ₹20 on delivery
Even a small sale of IPO shares costs ₹20 brokerage plus a ₹20 plus GST DP charge.
- Dealer orders cost more
Call and trade and auto square-off cost ₹75 plus GST each.
- AMC after the first year
₹300 plus GST a year.
Brokerage calculator: Alice Blue vs Upstox
| Charge | Alice Blue | Upstox |
|---|
Ours, with NSE rates. Change the trade to see what Alice Blue and Upstox would each charge.
Other comparisons
Every comparison with Alice Blue or Upstox, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Alice Blue or Upstox?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹41.30 in broker charges at Alice Blue and ₹47.20 at Upstox (our calculation). For two SME lots worth ₹2,50,000: Alice Blue ₹41.30, Upstox ₹47.20 (our calculation, brokerage and DP charge with GST).
How much would the difference between Alice Blue and Upstox be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Alice Blue costs ₹70.80 less in broker charges (our calculation). Add the yearly AMC: Alice Blue: ₹0 for life on the current plan; Upstox: ₹0 in the first year for new customers, then ₹300 plus GST a year.
Can I apply for SME IPOs on Alice Blue and Upstox?
Upstox lets you apply for SME IPOs; Alice Blue does not say so on the pages we checked.
What is the demat AMC at Alice Blue and Upstox?
Alice Blue: ₹0 for life on the current plan. Upstox: ₹0 in the first year for new customers, then ₹300 plus GST a year.
What DP charge do Alice Blue and Upstox take when I sell IPO shares?
For one sale of ₹15,000, with GST: ₹17.70 at Alice Blue; ₹23.60 at Upstox (our calculation). It is charged on each sale from your demat account.