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
ICICI DirectSEBI INZ000183631
- Account opening
- ₹0 to ₹975
- Demat AMC
- ₹0 year 1, then ₹700/yr
- SME IPOs
- Yes
- Delivery brokerage
- Depends on plan
- Cost to sell ₹15,000 of IPO shares
- Not publishedBrokerage and DP with GST, ours
Where Choice and ICICI Direct differ
6 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Choice | ICICI Direct |
|---|---|---|
| One mainboard lot, ₹15,000Difference not worked out: a charge is not published | ₹35.40 | Not published |
| Two SME lots, ₹2,50,000Difference not worked out: a charge is not published | ₹35.40 | Not published |
| A year: 12 mainboard lots soldDifference not worked out: a charge is not published | ₹424.80 | 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: Free at Choice, ₹0 to ₹975, depending on the account type at ICICI Direct.
- Demat maintenance (AMC): Free in the first year, then ₹200 plus GST a year at Choice, ₹0 in the first year, ₹700 plus taxes from the second year at ICICI Direct.
- Equity delivery brokerage: 0.20% at Choice, Depends on the plan at ICICI Direct.
- DP charge on selling shares: ₹10 plus GST per instruction at Choice, not stated at ICICI Direct.
- SME IPOs: not stated at Choice, Yes, the SME IPO page links to applying through UPI at ICICI Direct.
The same at both: mainboard IPOs.
Choice vs ICICI Direct: charges side by side
Differs 6 of 7 charges differ between Choice and ICICI Direct. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Choice | ICICI Direct |
|---|---|---|
| Open an account | ||
| Account opening | Free | ₹0 to ₹975, depending on the account type |
| Demat maintenance (AMC) | Free in the first year, then ₹200 plus GST a year | ₹0 in the first year, ₹700 plus taxes from the second year |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, free | Yes, on ICICI Direct with UPI, or through ICICI Bank net banking (ASBA) |
| SME IPOs | Not stated on the pages we checked | Yes, the SME IPO page links to applying through UPI |
| Sell your IPO shares | ||
| Equity delivery brokerage | 0.20% (the FAQ says 0.20% or ₹20, whichever is lower) | Depends on the plan; not stated on the page we checked. Prime plans say "as low as 0.07%" |
| DP charge on selling shares | ₹10 plus GST per instruction | Not stated on the pages we checked |
| Registration | ||
| SEBI registration | INZ000160131 | INZ000183631 |
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 ICICI Direct pages.
Choice and ICICI Direct 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.
ICICI Direct
Strengths
- Bank-linked
- ₹0 futures brokerage on Neo
Worth checking
- Higher AMC
₹700 plus taxes a year from the second year.
- Account opening fee
Up to ₹975, depending on the account type.
- Delivery and DP charges not on the page
Ask ICICI Direct for the delivery brokerage and DP charge on your plan before you sell IPO shares.
Brokerage calculator: Choice vs ICICI Direct
| Charge | Choice | ICICI Direct |
|---|
Ours, with NSE rates. Change the trade to see what Choice and ICICI Direct would each charge.
Other comparisons
Every comparison with Choice or ICICI Direct, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Choice or ICICI Direct?
ICICI Direct does not publish its DP charge, so the full cost of selling IPO shares cannot be compared. For two SME lots worth ₹2,50,000: Choice ₹35.40, ICICI Direct Not published (our calculation, brokerage and DP charge with GST).
How much would the difference between Choice and ICICI Direct be over a year?
Not in full, because ICICI Direct does not publish its DP charge.
Can I apply for SME IPOs on Choice and ICICI Direct?
ICICI Direct lets you apply for SME IPOs; Choice does not say so on the pages we checked.
Is account opening free at Choice and ICICI Direct?
Choice: Free. ICICI Direct: ₹0 to ₹975, depending on the account type.
What is the demat AMC at Choice and ICICI Direct?
Choice: Free in the first year, then ₹200 plus GST a year. ICICI Direct: ₹0 in the first year, ₹700 plus taxes from the second year.