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
JainamSEBI INZ000198735
- Account opening
- ₹0
- Demat AMC
- Not stated
- SME IPOs
- Not stated
- Delivery brokerage
- ₹20 (DIY) or 0.4%
- Cost to sell ₹15,000 of IPO shares
- ₹44.84Brokerage and DP with GST, ours
Where Choice and Jainam differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Choice | Jainam |
|---|---|---|
| One mainboard lot, ₹15,000₹9.44 less at Choice | ₹35.40 | ₹44.84 |
| Two SME lots, ₹2,50,000₹9.44 less at Choice | ₹35.40 | ₹44.84 |
| A year: 12 mainboard lots sold₹113.28 less at Choice | ₹424.80 | ₹538.08 |
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, not stated at Jainam.
- Equity delivery brokerage: 0.20% at Choice, DIY: ₹20 per order at Jainam.
- DP charge on selling shares: ₹10 plus GST per instruction at Choice, DIY: ₹18 per scrip at Jainam.
- Mainboard IPOs: Yes, free at Choice, not stated at Jainam.
The same at both: account opening and SME IPOs.
Choice vs Jainam: charges side by side
Differs 5 of 7 charges differ between Choice and Jainam. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Choice | Jainam |
|---|---|---|
| Open an account | ||
| Account opening | Free | ₹0 online |
| Demat maintenance (AMC) | Free in the first year, then ₹200 plus GST a year | Not stated on the pages we checked |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, free | Not stated on the pages we checked |
| 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) | DIY: ₹20 per order; Premium: 0.4% |
| DP charge on selling shares | ₹10 plus GST per instruction | DIY: ₹18 per scrip; Premium: ₹25 per request plus GST |
| Registration | ||
| SEBI registration | INZ000160131 | INZ000198735 |
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 Jainam pages.
Choice and Jainam 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.
Jainam
Strengths
- Two plans
Worth checking
- Premium delivery is 0.4%
₹60 on a ₹15,000 sale on the Premium plan. Our calculator uses the DIY plan.
- DIY dealer orders cost ₹70
Plus ₹20 brokerage and GST.
Brokerage calculator: Choice vs Jainam
| Charge | Choice | Jainam |
|---|
Ours, with NSE rates. Change the trade to see what Choice and Jainam would each charge.
Other comparisons
Every comparison with Choice or Jainam, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Choice or Jainam?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹35.40 in broker charges at Choice and ₹44.84 at Jainam (our calculation). For two SME lots worth ₹2,50,000: Choice ₹35.40, Jainam ₹44.84 (our calculation, brokerage and DP charge with GST).
How much would the difference between Choice and Jainam be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Choice costs ₹113.28 less in broker charges (our calculation). Add the yearly AMC: Choice: Free in the first year, then ₹200 plus GST a year; Jainam: not stated.
Can I apply for SME IPOs on Choice and Jainam?
Neither says clearly on its pages that SME IPOs can be applied for.
What is the demat AMC at Choice and Jainam?
Choice: Free in the first year, then ₹200 plus GST a year. Jainam: not stated.
What brokerage do Choice and Jainam 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 Jainam (our calculation from their published rates).