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
PhonePe Invest (Share.Market)SEBI INZ000302639
- Account opening
- Not stated
- Demat AMC
- Not stated
- SME IPOs
- Not stated
- Delivery brokerage
- ₹20 or 0.05%, lower
- Cost to sell ₹15,000 of IPO shares
- Not publishedBrokerage and DP with GST, ours
Where Angel One and PhonePe Invest (Share.Market) differ
6 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Angel One | PhonePe Invest (Share.Market) |
|---|---|---|
| One mainboard lot, ₹15,000Brokerage ₹8.85 less at PhonePe Invest (Share.Market); a DP charge is not published | ₹41.30 | ₹8.85 brokerage; DP charge not published |
| Two SME lots, ₹2,50,000Same brokerage at both; a DP charge is not published | ₹47.20 | ₹23.60 brokerage; DP charge not published |
| A year: 12 mainboard lots soldBrokerage ₹106.20 less at PhonePe Invest (Share.Market); a DP charge is not published | ₹495.60 | ₹106.20 brokerage; DP charge not published |
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.
- Account opening: ₹0 for residents at Angel One, not stated at PhonePe Invest (Share.Market).
- Demat maintenance (AMC): Free in the first year, then ₹60 a quarter plus GST, charged after the… at Angel One, not stated at PhonePe Invest (Share.Market).
- Equity delivery brokerage: ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 at Angel One, ₹20 or 0.05% per executed order, whichever is lower at PhonePe Invest (Share.Market).
- DP charge on selling shares: ₹20 plus GST per scrip at Angel One, not stated at PhonePe Invest (Share.Market).
- SME IPOs: Yes, NSE Emerge and BSE SME IPOs, marked with an SME tag. Allotted SME… at Angel One, not stated at PhonePe Invest (Share.Market).
The same at both: mainboard IPOs.
Angel One vs PhonePe Invest (Share.Market): charges side by side
Differs 6 of 7 charges differ between Angel One and PhonePe Invest (Share.Market). Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Angel One | PhonePe Invest (Share.Market) |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 for residents | Not stated on the pages we checked |
| Demat maintenance (AMC) | Free in the first year, then ₹60 a quarter plus GST, charged after the first trade in a quarter | Not stated on the pages we checked |
| 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 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 | ₹20 or 0.05% per executed order, 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) | Not stated on the pages we checked |
| Registration | ||
| SEBI registration | INZ000161534 | INZ000302639 |
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 PhonePe Invest (Share.Market) pages.
Angel One and PhonePe Invest (Share.Market) 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.
PhonePe Invest (Share.Market)
Strengths
- Low cap on small orders
Worth checking
- Account and DP charges not on the tariff page
The tariff page we read lists no account opening, AMC or DP charge.
- Dealer orders
₹30 extra per order for call and trade or auto square-off.
Brokerage calculator: Angel One vs PhonePe Invest (Share.Market)
| Charge | Angel One | PhonePe Invest (Share.Market) |
|---|
Ours, with NSE rates. Change the trade to see what Angel One and PhonePe Invest (Share.Market) would each charge.
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Every comparison with Angel One or PhonePe Invest (Share.Market), or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Angel One or PhonePe Invest (Share.Market)?
PhonePe Invest (Share.Market) does not publish its DP charge, so the full cost of selling IPO shares cannot be compared. On brokerage alone, one mainboard lot (₹15,000) costs ₹8.85 less at PhonePe Invest (Share.Market) (our calculation). For two SME lots worth ₹2,50,000: Angel One ₹47.20, PhonePe Invest (Share.Market) ₹23.60 brokerage; DP charge not published (our calculation, brokerage and DP charge with GST).
How much would the difference between Angel One and PhonePe Invest (Share.Market) be over a year?
Not in full, because PhonePe Invest (Share.Market) does not publish its DP charge. On brokerage alone, 12 mainboard lots of ₹15,000 cost ₹106.20 less at PhonePe Invest (Share.Market) (our calculation).
Can I apply for SME IPOs on Angel One and PhonePe Invest (Share.Market)?
Angel One lets you apply for SME IPOs; PhonePe Invest (Share.Market) does not say so on the pages we checked.
Is account opening free at Angel One and PhonePe Invest (Share.Market)?
Angel One: ₹0 for residents. PhonePe Invest (Share.Market): not stated.
What is the demat AMC at Angel One and PhonePe Invest (Share.Market)?
Angel One: Free in the first year, then ₹60 a quarter plus GST, charged after the…. PhonePe Invest (Share.Market): not stated.