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
GrowwSEBI INZ000301838
- Account opening
- ₹0
- Demat AMC
- ₹0
- 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
Where Choice and Groww differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Choice | Groww |
|---|---|---|
| One mainboard lot, ₹15,000₹5.90 less at Choice | ₹35.40 | ₹41.30 |
| Two SME lots, ₹2,50,000₹11.80 less at Choice | ₹35.40 | ₹47.20 |
| A year: 12 mainboard lots sold₹70.80 less at Choice | ₹424.80 | ₹495.60 |
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 at Groww.
- Equity delivery brokerage: 0.20% at Choice, ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 at Groww.
- DP charge on selling shares: ₹10 plus GST per instruction at Choice, ₹3.50 depository at Groww.
- SME IPOs: not stated at Choice, Yes, SME IPOs can be applied for on Groww at Groww.
The same at both: account opening and Mainboard IPOs.
Choice vs Groww: charges side by side
Differs 5 of 7 charges differ between Choice and Groww. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Choice | Groww |
|---|---|---|
| Open an account | ||
| Account opening | Free | ₹0 |
| Demat maintenance (AMC) | Free in the first year, then ₹200 plus GST a year | ₹0 |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, free | Yes, in the Stocks tab of the app with a UPI mandate. The mandate request arrives within an hour or two |
| SME IPOs | Not stated on the pages we checked | Yes, SME IPOs can be applied for on Groww |
| Sell your IPO shares | ||
| Equity delivery brokerage | 0.20% (the FAQ says 0.20% or ₹20, whichever is lower) | ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 |
| DP charge on selling shares | ₹10 plus GST per instruction | ₹3.50 depository (₹3.25 for women) plus ₹16.50 Groww per sell, plus GST; ₹0 when the debit value is under ₹100 |
| Registration | ||
| SEBI registration | INZ000160131 | INZ000301838 |
For other trading, equity intraday, Futures and Margin trading (MTF) interest differ too. Intraday, futures, call and trade and margin charges are on the Choice and Groww pages.
Choice and Groww 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.
Groww
Strengths
- ₹0 AMC
- ₹0 account opening
- SME IPOs in the app
Worth checking
- Brokerage on delivery
Up to ₹20 per order (0.1%, minimum ₹5) when you sell IPO shares.
- DP charge on sale
₹20 plus GST each time you sell a stock from your demat account.
Brokerage calculator: Choice vs Groww
| Charge | Choice | Groww |
|---|
Ours, with NSE rates. Change the trade to see what Choice and Groww would each charge.
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Every comparison with Choice or Groww, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Choice or Groww?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹35.40 in broker charges at Choice and ₹41.30 at Groww (our calculation). For two SME lots worth ₹2,50,000: Choice ₹35.40, Groww ₹47.20 (our calculation, brokerage and DP charge with GST).
How much would the difference between Choice and Groww be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Choice costs ₹70.80 less in broker charges (our calculation). Add the yearly AMC: Choice: Free in the first year, then ₹200 plus GST a year; Groww: ₹0.
Can I apply for SME IPOs on Choice and Groww?
Groww lets you apply for SME IPOs; Choice does not say so on the pages we checked.
What is the demat AMC at Choice and Groww?
Choice: Free in the first year, then ₹200 plus GST a year. Groww: ₹0.
What brokerage do Choice and Groww 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 ₹17.70 at Groww (our calculation from their published rates).