Bajaj BrokingSEBI INZ000218931
- Account opening
- ₹0
- Demat AMC
- ₹0 (pack ₹431/yr from year 2)
- SME IPOs
- Yes
- Delivery brokerage
- ₹20/order
- Cost to sell ₹15,000 of IPO shares
- ₹64.90Brokerage 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 Bajaj Broking and Choice differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Bajaj Broking | Choice |
|---|---|---|
| One mainboard lot, ₹15,000₹29.50 less at Choice | ₹64.90 | ₹35.40 |
| Two SME lots, ₹2,50,000₹29.50 less at Choice | ₹64.90 | ₹35.40 |
| A year: 12 mainboard lots sold₹354.00 less at Choice | ₹778.80 | ₹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): Nil, but the Freedom Pack subscription is ₹431 a year from the second… at Bajaj Broking, Free in the first year, then ₹200 plus GST a year at Choice.
- Equity delivery brokerage: ₹20 per order at Bajaj Broking, 0.20% at Choice.
- DP charge on selling shares: ₹35 or 0.0002% of the value, whichever is higher, plus taxes at Bajaj Broking, ₹10 plus GST per instruction at Choice.
- SME IPOs: Yes. SME IPOs are listed with an Apply Now option at Bajaj Broking, not stated at Choice.
The same at both: account opening and Mainboard IPOs.
Bajaj Broking vs Choice: charges side by side
Differs 5 of 7 charges differ between Bajaj Broking and Choice. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Bajaj Broking | Choice |
|---|---|---|
| Open an account | ||
| Account opening | Nil | Free |
| Demat maintenance (AMC) | Nil, but the Freedom Pack subscription is ₹431 a year from the second year (free in the first) | Free in the first year, then ₹200 plus GST a year |
| Apply for IPOs | ||
| Mainboard IPOs | Yes | Yes, free |
| SME IPOs | Yes. SME IPOs are listed with an Apply Now option | Not stated on the pages we checked |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹20 per order (Professional Pack: ₹10, for ₹2,500 a year) | 0.20% (the FAQ says 0.20% or ₹20, whichever is lower) |
| DP charge on selling shares | ₹35 or 0.0002% of the value, whichever is higher, plus taxes | ₹10 plus GST per instruction |
| Registration | ||
| SEBI registration | INZ000218931 | 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 Bajaj Broking and Choice pages.
Bajaj Broking and Choice strengths and things worth checking
Bajaj Broking
Strengths
- Cheaper dealer orders
- No demat AMC
- SME IPOs
Worth checking
- Pack fee from year two
₹431 a year for the Freedom Pack.
- Higher DP charge
₹35 plus taxes per sale.
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: Bajaj Broking vs Choice
| Charge | Bajaj Broking | Choice |
|---|
Ours, with NSE rates. Change the trade to see what Bajaj Broking and Choice would each charge.
Other comparisons
Every comparison with Bajaj Broking or Choice, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Bajaj Broking or Choice?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹35.40 in broker charges at Choice and ₹64.90 at Bajaj Broking (our calculation). For two SME lots worth ₹2,50,000: Bajaj Broking ₹64.90, Choice ₹35.40 (our calculation, brokerage and DP charge with GST).
How much would the difference between Bajaj Broking and Choice be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Choice costs ₹354.00 less in broker charges (our calculation). Add the yearly AMC: Bajaj Broking: Nil, but the Freedom Pack subscription is ₹431 a year from the second…; Choice: Free in the first year, then ₹200 plus GST a year.
Can I apply for SME IPOs on Bajaj Broking and Choice?
Bajaj Broking lets you apply for SME IPOs; Choice does not say so on the pages we checked.
What is the demat AMC at Bajaj Broking and Choice?
Bajaj Broking: Nil, but the Freedom Pack subscription is ₹431 a year from the second…. Choice: Free in the first year, then ₹200 plus GST a year.
What brokerage do Bajaj Broking 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 ₹23.60 at Bajaj Broking and ₹23.60 at Choice (our calculation from their published rates).