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
ZerodhaSEBI INZ000031633
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹300/yr + GST
- SME IPOs
- Yes
- Delivery brokerage
- ₹0
- Cost to sell ₹15,000 of IPO shares
- ₹15.34Brokerage and DP with GST, ours
Where Alice Blue and Zerodha differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Alice Blue | Zerodha |
|---|---|---|
| One mainboard lot, ₹15,000₹25.96 less at Zerodha | ₹41.30 | ₹15.34 |
| Two SME lots, ₹2,50,000₹25.96 less at Zerodha | ₹41.30 | ₹15.34 |
| A year: 12 mainboard lots sold₹311.52 less at Zerodha | ₹495.60 | ₹184.08 |
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 for resident individuals, then ₹300 a year plus… at Zerodha.
- Equity delivery brokerage: ₹20 or 2.5 per executed order, whichever is lower, as shown on the… at Alice Blue, ₹0 at Zerodha.
- DP charge on selling shares: ₹15 plus GST per scrip, on sales only at Alice Blue, ₹13 plus GST per scrip at Zerodha.
- SME IPOs: not stated at Alice Blue, Yes, NSE and BSE SME IPOs through UPI. Only one bid per SME IPO, and… at Zerodha.
The same at both: account opening and Mainboard IPOs.
Alice Blue vs Zerodha: charges side by side
Differs 5 of 7 charges differ between Alice Blue and Zerodha. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Alice Blue | Zerodha |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | ₹0 for individual accounts (₹500 for NRI, partnership, LLP and corporate accounts) |
| Demat maintenance (AMC) | ₹0 for life on the current plan | Free in the first year for resident individuals, then ₹300 a year plus GST, charged quarterly |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, with ₹0 brokerage | Yes, through Kite or Console with a UPI mandate |
| SME IPOs | Not stated on the pages we checked | Yes, NSE and BSE SME IPOs through UPI. Only one bid per SME IPO, and no net banking fallback if the UPI payment fails |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹20 or 2.5 per executed order, whichever is lower, as shown on the pricing page | ₹0 |
| DP charge on selling shares | ₹15 plus GST per scrip, on sales only | ₹13 plus GST per scrip (₹3.50 CDSL, ₹9.50 Zerodha); ₹15.34 with GST |
| Registration | ||
| SEBI registration | INZ000156038 | INZ000031633 |
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 Alice Blue and Zerodha pages.
Alice Blue and Zerodha 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.
Zerodha
Strengths
- ₹0 brokerage on delivery
- Lower DP charge
- SME IPOs on both exchanges
Worth checking
- AMC after the first year
₹300 a year plus GST for a regular demat account.
- SME IPO limits
One bid per SME IPO, and if the UPI payment fails you cannot apply by net banking.
- Dealer orders cost extra
₹50 per order through call and trade or auto square-off.
Brokerage calculator: Alice Blue vs Zerodha
| Charge | Alice Blue | Zerodha |
|---|
Ours, with NSE rates. Change the trade to see what Alice Blue and Zerodha would each charge.
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Frequently asked questions
Which is cheaper for selling IPO shares, Alice Blue or Zerodha?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹15.34 in broker charges at Zerodha and ₹41.30 at Alice Blue (our calculation). For two SME lots worth ₹2,50,000: Alice Blue ₹41.30, Zerodha ₹15.34 (our calculation, brokerage and DP charge with GST).
How much would the difference between Alice Blue and Zerodha be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Zerodha costs ₹311.52 less in broker charges (our calculation). Add the yearly AMC: Alice Blue: ₹0 for life on the current plan; Zerodha: Free in the first year for resident individuals, then ₹300 a year plus….
Can I apply for SME IPOs on Alice Blue and Zerodha?
Zerodha 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 Zerodha?
Alice Blue: ₹0 for life on the current plan. Zerodha: Free in the first year for resident individuals, then ₹300 a year plus….
What brokerage do Alice Blue and Zerodha 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 ₹0.00 at Zerodha (our calculation from their published rates).