Angel OneSEBI INZ000161534
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹240/yr + GST
- SME IPOs
- Yes
- Delivery brokerage
- ₹20 or 0.1%, 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 Angel One and Choice differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Angel One | Choice |
|---|---|---|
| One mainboard lot, ₹15,000₹5.90 less at Choice | ₹41.30 | ₹35.40 |
| Two SME lots, ₹2,50,000₹11.80 less at Choice | ₹47.20 | ₹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): Free in the first year, then ₹60 a quarter plus GST, charged after the… at Angel One, Free in the first year, then ₹200 plus GST a year at Choice.
- Equity delivery brokerage: ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 at Angel One, 0.20% at Choice.
- DP charge on selling shares: ₹20 plus GST per scrip at Angel One, ₹10 plus GST per instruction at Choice.
- SME IPOs: Yes, NSE Emerge and BSE SME IPOs, marked with an SME tag. Allotted SME… at Angel One, not stated at Choice.
The same at both: account opening and Mainboard IPOs.
Angel One vs Choice: charges side by side
Differs 5 of 7 charges differ between Angel One and Choice. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Angel One | Choice |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 for residents | Free |
| Demat maintenance (AMC) | Free in the first year, then ₹60 a quarter plus GST, charged after the first trade in a quarter | Free in the first year, then ₹200 plus GST a year |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, in the IPO section of the app with a UPI mandate | Yes, free |
| SME IPOs | Yes, NSE Emerge and BSE SME IPOs, marked with an SME tag. Allotted SME shares can be sold from the app | Not stated on the pages we checked |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 | 0.20% (the FAQ says 0.20% or ₹20, whichever is lower) |
| DP charge on selling shares | ₹20 plus GST per scrip (₹3.50 CDSL and ₹16.50 Angel One; ₹3.25 and ₹16.75 for women) | ₹10 plus GST per instruction |
| Registration | ||
| SEBI registration | INZ000161534 | INZ000160131 |
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 Angel One and Choice pages.
Angel One and Choice strengths and things worth checking
Angel One
Strengths
- Free first month
- Cheaper dealer orders
- SME IPOs on both exchanges
Worth checking
- AMC after the first year
₹60 a quarter plus GST (₹240 a year plus GST) for a regular demat account.
- Brokerage and DP charge on delivery
Up to ₹20 per order plus a ₹20 plus GST DP charge when you sell.
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: Angel One vs Choice
| Charge | Angel One | Choice |
|---|
Ours, with NSE rates. Change the trade to see what Angel One and Choice would each charge.
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Every comparison with Angel One or Choice, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Angel One or Choice?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹35.40 in broker charges at Choice and ₹41.30 at Angel One (our calculation). For two SME lots worth ₹2,50,000: Angel One ₹47.20, Choice ₹35.40 (our calculation, brokerage and DP charge with GST).
How much would the difference between Angel One 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: Angel One: Free in the first year, then ₹60 a quarter plus GST, charged after the…; Choice: Free in the first year, then ₹200 plus GST a year.
Can I apply for SME IPOs on Angel One and Choice?
Angel One lets you apply for SME IPOs; Choice does not say so on the pages we checked.
What is the demat AMC at Angel One and Choice?
Angel One: Free in the first year, then ₹60 a quarter plus GST, charged after the…. Choice: Free in the first year, then ₹200 plus GST a year.
What brokerage do Angel One 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 ₹17.70 at Angel One and ₹23.60 at Choice (our calculation from their published rates).