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
UpstoxSEBI INZ000315837
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹300/yr + GST
- SME IPOs
- Yes
- Delivery brokerage
- ₹20/order
- Cost to sell ₹15,000 of IPO shares
- ₹47.20Brokerage and DP with GST, ours
Where Angel One and Upstox differ
3 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Angel One | Upstox |
|---|---|---|
| One mainboard lot, ₹15,000₹5.90 less at Angel One | ₹41.30 | ₹47.20 |
| Two SME lots, ₹2,50,000Same at both | ₹47.20 | ₹47.20 |
| A year: 12 mainboard lots sold₹70.80 less at Angel One | ₹495.60 | ₹566.40 |
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 in the first year for new customers, then ₹300 plus GST a year at Upstox.
- Equity delivery brokerage: ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 at Angel One, ₹20 per executed order at Upstox.
The same at both: account opening, DP charge on selling shares, Mainboard IPOs and SME IPOs.
Angel One vs Upstox: charges side by side
Differs 3 of 7 charges differ between Angel One and Upstox. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Angel One | Upstox |
|---|---|---|
| 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 in the first year for new customers, then ₹300 plus GST a year (BSDA accounts have separate terms) |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, in the IPO section of the app with a UPI mandate | Yes, in the IPO section of the app with a UPI mandate |
| SME IPOs | Yes, NSE Emerge and BSE SME IPOs, marked with an SME tag. Allotted SME shares can be sold from the app | Yes, using the SME IPO filter in the IPO section. SME bids need a price; cut-off is not allowed |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 | ₹20 per executed 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) | ₹20 plus GST per scrip per day (₹3.50 CDSL and ₹16.50 Upstox; ₹3.25 and ₹16.75 for women) |
| Registration | ||
| SEBI registration | INZ000161534 | INZ000315837 |
For other trading, 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 Upstox pages.
Angel One and Upstox 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.
Upstox
Strengths
- Zero commission on IPOs
- ₹0 account opening
- SME IPOs in the app
Worth checking
- Flat ₹20 on delivery
Even a small sale of IPO shares costs ₹20 brokerage plus a ₹20 plus GST DP charge.
- Dealer orders cost more
Call and trade and auto square-off cost ₹75 plus GST each.
- AMC after the first year
₹300 plus GST a year.
Brokerage calculator: Angel One vs Upstox
| Charge | Angel One | Upstox |
|---|
Ours, with NSE rates. Change the trade to see what Angel One and Upstox would each charge.
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Every comparison with Angel One or Upstox, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Angel One or Upstox?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹41.30 in broker charges at Angel One and ₹47.20 at Upstox (our calculation). For two SME lots worth ₹2,50,000: Angel One ₹47.20, Upstox ₹47.20 (our calculation, brokerage and DP charge with GST).
How much would the difference between Angel One and Upstox be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Angel One 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…; Upstox: ₹0 in the first year for new customers, then ₹300 plus GST a year.
Can I apply for SME IPOs on Angel One and Upstox?
Both let you apply for SME IPOs.
What is the demat AMC at Angel One and Upstox?
Angel One: Free in the first year, then ₹60 a quarter plus GST, charged after the…. Upstox: ₹0 in the first year for new customers, then ₹300 plus GST a year.
What brokerage do Angel One and Upstox 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 Upstox (our calculation from their published rates).