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
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 Bajaj Broking and PhonePe Invest (Share.Market) differ
6 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Bajaj Broking | PhonePe Invest (Share.Market) |
|---|---|---|
| One mainboard lot, ₹15,000Brokerage ₹14.75 less at PhonePe Invest (Share.Market); a DP charge is not published | ₹64.90 | ₹8.85 brokerage; DP charge not published |
| Two SME lots, ₹2,50,000Same brokerage at both; a DP charge is not published | ₹64.90 | ₹23.60 brokerage; DP charge not published |
| A year: 12 mainboard lots soldBrokerage ₹177.00 less at PhonePe Invest (Share.Market); a DP charge is not published | ₹778.80 | ₹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: Nil at Bajaj Broking, not stated at PhonePe Invest (Share.Market).
- Demat maintenance (AMC): Nil, but the Freedom Pack subscription is ₹431 a year from the second… at Bajaj Broking, not stated at PhonePe Invest (Share.Market).
- Equity delivery brokerage: ₹20 per order at Bajaj Broking, ₹20 or 0.05% per executed order, whichever is lower at PhonePe Invest (Share.Market).
- DP charge on selling shares: ₹35 or 0.0002% of the value, whichever is higher, plus taxes at Bajaj Broking, not stated at PhonePe Invest (Share.Market).
- SME IPOs: Yes. SME IPOs are listed with an Apply Now option at Bajaj Broking, not stated at PhonePe Invest (Share.Market).
The same at both: mainboard IPOs.
Bajaj Broking vs PhonePe Invest (Share.Market): charges side by side
Differs 6 of 7 charges differ between Bajaj Broking and PhonePe Invest (Share.Market). Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Bajaj Broking | PhonePe Invest (Share.Market) |
|---|---|---|
| Open an account | ||
| Account opening | Nil | Not stated on the pages we checked |
| Demat maintenance (AMC) | Nil, but the Freedom Pack subscription is ₹431 a year from the second year (free in the first) | Not stated on the pages we checked |
| Apply for IPOs | ||
| Mainboard IPOs | Yes | Yes |
| 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) | ₹20 or 0.05% per executed order, whichever is lower |
| DP charge on selling shares | ₹35 or 0.0002% of the value, whichever is higher, plus taxes | Not stated on the pages we checked |
| Registration | ||
| SEBI registration | INZ000218931 | 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 Bajaj Broking and PhonePe Invest (Share.Market) pages.
Bajaj Broking and PhonePe Invest (Share.Market) 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.
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: Bajaj Broking vs PhonePe Invest (Share.Market)
| Charge | Bajaj Broking | PhonePe Invest (Share.Market) |
|---|
Ours, with NSE rates. Change the trade to see what Bajaj Broking and PhonePe Invest (Share.Market) would each charge.
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Every comparison with Bajaj Broking or PhonePe Invest (Share.Market), or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Bajaj Broking 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 ₹14.75 less at PhonePe Invest (Share.Market) (our calculation). For two SME lots worth ₹2,50,000: Bajaj Broking ₹64.90, 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 Bajaj Broking 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 ₹177.00 less at PhonePe Invest (Share.Market) (our calculation).
Can I apply for SME IPOs on Bajaj Broking and PhonePe Invest (Share.Market)?
Bajaj Broking lets you apply for SME IPOs; PhonePe Invest (Share.Market) does not say so on the pages we checked.
Is account opening free at Bajaj Broking and PhonePe Invest (Share.Market)?
Bajaj Broking: Nil. PhonePe Invest (Share.Market): not stated.
What is the demat AMC at Bajaj Broking and PhonePe Invest (Share.Market)?
Bajaj Broking: Nil, but the Freedom Pack subscription is ₹431 a year from the second…. PhonePe Invest (Share.Market): not stated.