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
FYERSSEBI INZ000008524
- Account opening
- ₹0
- Demat AMC
- ₹0
- SME IPOs
- Not stated
- Delivery brokerage
- ₹20 or 0.3%, lower
- Cost to sell ₹15,000 of IPO shares
- ₹38.35Brokerage and DP with GST, ours
Where Choice and FYERS differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Choice | FYERS |
|---|---|---|
| One mainboard lot, ₹15,000₹2.95 less at Choice | ₹35.40 | ₹38.35 |
| Two SME lots, ₹2,50,000₹2.95 less at Choice | ₹35.40 | ₹38.35 |
| A year: 12 mainboard lots sold₹35.40 less at Choice | ₹424.80 | ₹460.20 |
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 ₹200 plus GST a year at Choice, ₹0 for trading and demat accounts at FYERS.
- Equity delivery brokerage: 0.20% at Choice, ₹20 or 0.3% per executed order, whichever is lower at FYERS.
- DP charge on selling shares: ₹10 plus GST per instruction at Choice, ₹12.50 plus GST per scrip at FYERS.
- SME IPOs: not stated at Choice, The help page lists applications by type at FYERS.
The same at both: account opening and Mainboard IPOs.
Choice vs FYERS: charges side by side
Differs 5 of 7 charges differ between Choice and FYERS. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Choice | FYERS |
|---|---|---|
| Open an account | ||
| Account opening | Free | ₹0 |
| Demat maintenance (AMC) | Free in the first year, then ₹200 plus GST a year | ₹0 for trading and demat accounts |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, free | Yes, on the FYERS web and mobile platforms, with ₹0 brokerage |
| SME IPOs | Not stated on the pages we checked | The help page lists applications by type (mainboard or SME) in the IPO section |
| Sell your IPO shares | ||
| Equity delivery brokerage | 0.20% (the FAQ says 0.20% or ₹20, whichever is lower) | ₹20 or 0.3% per executed order, whichever is lower (Prime: ₹15 or 0.3%) |
| DP charge on selling shares | ₹10 plus GST per instruction | ₹12.50 plus GST per scrip (ISIN) |
| Registration | ||
| SEBI registration | INZ000160131 | INZ000008524 |
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 Choice and FYERS pages.
Choice and FYERS strengths and things worth checking
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.
FYERS
Strengths
- ₹0 AMC and account opening
- IPO applications free
- Low DP charge
Worth checking
- Brokerage on delivery
Up to ₹20 per order (₹15 on Prime).
- MTF on small amounts
16.49% a year on funding up to ₹1 lakh.
Brokerage calculator: Choice vs FYERS
| Charge | Choice | FYERS |
|---|
Ours, with NSE rates. Change the trade to see what Choice and FYERS would each charge.
Other comparisons
Every comparison with Choice or FYERS, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Choice or FYERS?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹35.40 in broker charges at Choice and ₹38.35 at FYERS (our calculation). For two SME lots worth ₹2,50,000: Choice ₹35.40, FYERS ₹38.35 (our calculation, brokerage and DP charge with GST).
How much would the difference between Choice and FYERS be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Choice costs ₹35.40 less in broker charges (our calculation). Add the yearly AMC: Choice: Free in the first year, then ₹200 plus GST a year; FYERS: ₹0 for trading and demat accounts.
Can I apply for SME IPOs on Choice and FYERS?
Neither says clearly on its pages that SME IPOs can be applied for.
What is the demat AMC at Choice and FYERS?
Choice: Free in the first year, then ₹200 plus GST a year. FYERS: ₹0 for trading and demat accounts.
What brokerage do Choice and FYERS 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 Choice and ₹23.60 at FYERS (our calculation from their published rates).