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
IIFL CapitalSEBI INZ000164132
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹250/yr + GST
- SME IPOs
- Not stated
- Delivery brokerage
- 0.25%
- Cost to sell ₹15,000 of IPO shares
- ₹73.75Brokerage and DP with GST, ours
Where Choice and IIFL Capital differ
4 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Choice | IIFL Capital |
|---|---|---|
| One mainboard lot, ₹15,000₹38.35 less at Choice | ₹35.40 | ₹73.75 |
| Two SME lots, ₹2,50,000₹731.60 less at Choice | ₹35.40 | ₹767.00 |
| A year: 12 mainboard lots sold₹460.20 less at Choice | ₹424.80 | ₹885.00 |
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 in the first year, then ₹250 plus GST a year at IIFL Capital.
- Equity delivery brokerage: 0.20% at Choice, 0.25% at IIFL Capital.
- DP charge on selling shares: ₹10 plus GST per instruction at Choice, ₹25 plus GST per scrip at IIFL Capital.
The same at both: account opening, Mainboard IPOs and SME IPOs.
Choice vs IIFL Capital: charges side by side
Differs 4 of 7 charges differ between Choice and IIFL Capital. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Choice | IIFL Capital |
|---|---|---|
| Open an account | ||
| Account opening | Free | ₹0 |
| Demat maintenance (AMC) | Free in the first year, then ₹200 plus GST a year | ₹0 in the first year, then ₹250 plus GST a year |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, free | Yes |
| SME IPOs | Not stated on the pages we checked | Not stated on the pages we checked |
| Sell your IPO shares | ||
| Equity delivery brokerage | 0.20% (the FAQ says 0.20% or ₹20, whichever is lower) | 0.25% |
| DP charge on selling shares | ₹10 plus GST per instruction | ₹25 plus GST per scrip |
| Registration | ||
| SEBI registration | INZ000160131 | INZ000164132 |
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 IIFL Capital pages.
Choice and IIFL Capital 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.
IIFL Capital
Strengths
- Full-service support
- Lower AMC
Worth checking
- Percentage brokerage on delivery
0.25% with no cap: ₹37.50 on a ₹15,000 sale.
- DP charge
₹25 plus GST per sale.
- System square-off
₹100 per order.
Brokerage calculator: Choice vs IIFL Capital
| Charge | Choice | IIFL Capital |
|---|
Ours, with NSE rates. Change the trade to see what Choice and IIFL Capital would each charge.
Other comparisons
Every comparison with Choice or IIFL Capital, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Choice or IIFL Capital?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹35.40 in broker charges at Choice and ₹73.75 at IIFL Capital (our calculation). For two SME lots worth ₹2,50,000: Choice ₹35.40, IIFL Capital ₹767.00 (our calculation, brokerage and DP charge with GST).
How much would the difference between Choice and IIFL Capital be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Choice costs ₹460.20 less in broker charges (our calculation). Add the yearly AMC: Choice: Free in the first year, then ₹200 plus GST a year; IIFL Capital: ₹0 in the first year, then ₹250 plus GST a year.
Can I apply for SME IPOs on Choice and IIFL Capital?
Neither says clearly on its pages that SME IPOs can be applied for.
What is the demat AMC at Choice and IIFL Capital?
Choice: Free in the first year, then ₹200 plus GST a year. IIFL Capital: ₹0 in the first year, then ₹250 plus GST a year.
What brokerage do Choice and IIFL Capital 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 ₹44.25 at IIFL Capital (our calculation from their published rates).