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
ProStocksSEBI INZ000048660
- Account opening
- ₹0
- Demat AMC
- ₹0 (₹1,000 deposit)
- SME IPOs
- Not stated
- Delivery brokerage
- ₹0
- Cost to sell ₹15,000 of IPO shares
- ₹23.60Brokerage and DP with GST, ours
Where Choice and ProStocks differ
6 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Choice | ProStocks |
|---|---|---|
| One mainboard lot, ₹15,000₹11.80 less at ProStocks | ₹35.40 | ₹23.60 |
| Two SME lots, ₹2,50,000₹11.80 less at ProStocks | ₹35.40 | ₹23.60 |
| A year: 12 mainboard lots sold₹141.60 less at ProStocks | ₹424.80 | ₹283.20 |
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.
- Account opening: Free at Choice, No fee listed at ProStocks.
- Demat maintenance (AMC): Free in the first year, then ₹200 plus GST a year at Choice, None at ProStocks.
- Equity delivery brokerage: 0.20% at Choice, ₹0 at ProStocks.
- DP charge on selling shares: ₹10 plus GST per instruction at Choice, ₹20 per scrip plus 18% GST at ProStocks.
- Mainboard IPOs: Yes, free at Choice, not stated at ProStocks.
The same at both: sME IPOs.
Choice vs ProStocks: charges side by side
Differs 6 of 7 charges differ between Choice and ProStocks. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Choice | ProStocks |
|---|---|---|
| Open an account | ||
| Account opening | Free | No fee listed (online application) |
| Demat maintenance (AMC) | Free in the first year, then ₹200 plus GST a year | None; ₹1,000 refundable demat deposit |
| 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) | ₹0 (flat fee plan) |
| DP charge on selling shares | ₹10 plus GST per instruction | ₹20 per scrip plus 18% GST |
| Registration | ||
| SEBI registration | INZ000160131 | INZ000048660 |
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 ProStocks pages.
Choice and ProStocks 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.
ProStocks
Strengths
- ₹0 delivery brokerage
- No AMC
- Cheap dealer orders
Worth checking
- Refundable deposit
₹1,000 demat deposit.
- IPO access not stated
The pricing page does not mention IPO applications.
Brokerage calculator: Choice vs ProStocks
| Charge | Choice | ProStocks |
|---|
Ours, with NSE rates. Change the trade to see what Choice and ProStocks would each charge.
Other comparisons
Every comparison with Choice or ProStocks, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Choice or ProStocks?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹23.60 in broker charges at ProStocks and ₹35.40 at Choice (our calculation). For two SME lots worth ₹2,50,000: Choice ₹35.40, ProStocks ₹23.60 (our calculation, brokerage and DP charge with GST).
How much would the difference between Choice and ProStocks be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, ProStocks costs ₹141.60 less in broker charges (our calculation). Add the yearly AMC: Choice: Free in the first year, then ₹200 plus GST a year; ProStocks: None.
Can I apply for SME IPOs on Choice and ProStocks?
Neither says clearly on its pages that SME IPOs can be applied for.
Is account opening free at Choice and ProStocks?
Choice: Free. ProStocks: No fee listed.
What is the demat AMC at Choice and ProStocks?
Choice: Free in the first year, then ₹200 plus GST a year. ProStocks: None.