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
m.StockSEBI INZ000163138
- Account opening
- ₹0
- Demat AMC
- ₹0
- SME IPOs
- Not stated
- Delivery brokerage
- ₹10/order
- Cost to sell ₹15,000 of IPO shares
- ₹33.04Brokerage and DP with GST, ours
Where Angel One and m.Stock differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Angel One | m.Stock |
|---|---|---|
| One mainboard lot, ₹15,000₹8.26 less at m.Stock | ₹41.30 | ₹33.04 |
| Two SME lots, ₹2,50,000₹14.16 less at m.Stock | ₹47.20 | ₹33.04 |
| A year: 12 mainboard lots sold₹99.12 less at m.Stock | ₹495.60 | ₹396.48 |
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 m.Stock.
- Equity delivery brokerage: ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 at Angel One, ₹10 per order at m.Stock.
- DP charge on selling shares: ₹20 plus GST per scrip at Angel One, ₹18 plus GST per debit transaction at m.Stock.
- SME IPOs: Yes, NSE Emerge and BSE SME IPOs, marked with an SME tag. Allotted SME… at Angel One, not stated at m.Stock.
The same at both: account opening and Mainboard IPOs.
Angel One vs m.Stock: charges side by side
Differs 5 of 7 charges differ between Angel One and m.Stock. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Angel One | m.Stock |
|---|---|---|
| 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, with a two-click application |
| 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 | ₹10 per order |
| 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 plus GST per debit transaction |
| Registration | ||
| SEBI registration | INZ000161534 | INZ000163138 |
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 m.Stock pages.
Angel One and m.Stock 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.
m.Stock
Strengths
- ₹10 per order
- ₹0 AMC
- Free call and trade
Worth checking
- System square-off is costly
₹100 plus GST per order if m.Stock squares off your intraday position.
- DP charge
₹18 plus GST per sale.
Brokerage calculator: Angel One vs m.Stock
| Charge | Angel One | m.Stock |
|---|
Ours, with NSE rates. Change the trade to see what Angel One and m.Stock would each charge.
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Every comparison with Angel One or m.Stock, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Angel One or m.Stock?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹33.04 in broker charges at m.Stock and ₹41.30 at Angel One (our calculation). For two SME lots worth ₹2,50,000: Angel One ₹47.20, m.Stock ₹33.04 (our calculation, brokerage and DP charge with GST).
How much would the difference between Angel One and m.Stock be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, m.Stock costs ₹99.12 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…; m.Stock: ₹0.
Can I apply for SME IPOs on Angel One and m.Stock?
Angel One lets you apply for SME IPOs; m.Stock does not say so on the pages we checked.
What is the demat AMC at Angel One and m.Stock?
Angel One: Free in the first year, then ₹60 a quarter plus GST, charged after the…. m.Stock: ₹0.
What brokerage do Angel One and m.Stock 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 ₹11.80 at m.Stock (our calculation from their published rates).