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
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 Angel One and INDmoney differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Angel One | INDmoney |
|---|---|---|
| One mainboard lot, ₹15,000₹1.77 less at INDmoney | ₹41.30 | ₹39.53 |
| Two SME lots, ₹2,50,000₹1.77 less at INDmoney | ₹47.20 | ₹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.
- Demat maintenance (AMC): Free in the first year, then ₹60 a quarter plus GST, charged after the… at Angel One, ₹0 at INDmoney.
- Equity delivery brokerage: ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 at Angel One, 0.1% or ₹20 per executed order, whichever is lower, minimum ₹2 at INDmoney.
- DP charge on selling shares: ₹20 plus GST per scrip at Angel One, ₹18.50 plus GST per ISIN at INDmoney.
- SME IPOs: Yes, NSE Emerge and BSE SME IPOs, marked with an SME tag. Allotted SME… at Angel One, Not yet. INDmoney says it does not currently support SME IPOs at INDmoney.
The same at both: account opening and Mainboard IPOs.
Angel One vs INDmoney: charges side by side
Differs 5 of 7 charges differ between Angel One and INDmoney. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Angel One | INDmoney |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 for residents | ₹0 |
| Demat maintenance (AMC) | Free in the first year, then ₹60 a quarter plus GST, charged after the first trade in a quarter | ₹0 |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, in the IPO section of the app with a UPI mandate | Yes |
| SME IPOs | Yes, NSE Emerge and BSE SME IPOs, marked with an SME tag. Allotted SME shares can be sold from the app | Not yet. INDmoney says it does not currently support SME IPOs |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 | 0.1% or ₹20 per executed order, whichever is lower, minimum ₹2 |
| 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) | ₹18.50 plus GST per ISIN (₹3.50 CDSL and ₹15 INDstocks; ₹3.25 and ₹15.25 for women) |
| Registration | ||
| SEBI registration | INZ000161534 | INZ000305337 |
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 Angel One and INDmoney pages.
Angel One and INDmoney 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.
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: Angel One vs INDmoney
| Charge | Angel One | INDmoney |
|---|
Ours, with NSE rates. Change the trade to see what Angel One and INDmoney would each charge.
Other comparisons
- Angel One vs Groww
- Angel One vs ICICI Direct
- Angel One vs Upstox
- Angel One vs Zerodha
- Angel One vs m.Stock
- Dhan vs INDmoney
- HDFC Securities (HDFC Sky) vs INDmoney
- INDmoney vs Upstox
Every comparison with Angel One or INDmoney, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Angel One or INDmoney?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹39.53 in broker charges at INDmoney and ₹41.30 at Angel One (our calculation). For two SME lots worth ₹2,50,000: Angel One ₹47.20, INDmoney ₹45.43 (our calculation, brokerage and DP charge with GST).
How much would the difference between Angel One 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: Angel One: Free in the first year, then ₹60 a quarter plus GST, charged after the…; INDmoney: ₹0.
Can I apply for SME IPOs on Angel One and INDmoney?
Angel One lets you apply for SME IPOs; INDmoney does not support them yet.
What is the demat AMC at Angel One and INDmoney?
Angel One: Free in the first year, then ₹60 a quarter plus GST, charged after the…. INDmoney: ₹0.
What brokerage do Angel One 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 ₹17.70 at Angel One and ₹17.70 at INDmoney (our calculation from their published rates).