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
SahiSEBI INZ000317632
- Account opening
- ₹0
- Demat AMC
- ₹0
- SME IPOs
- Not stated
- Delivery brokerage
- ₹10 or 0.05%, lower
- Cost to sell ₹15,000 of IPO shares
- ₹24.78Brokerage and DP with GST, ours
Where Choice and Sahi differ
4 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Choice | Sahi |
|---|---|---|
| One mainboard lot, ₹15,000₹10.62 less at Sahi | ₹35.40 | ₹24.78 |
| Two SME lots, ₹2,50,000₹7.67 less at Sahi | ₹35.40 | ₹27.73 |
| A year: 12 mainboard lots sold₹127.44 less at Sahi | ₹424.80 | ₹297.36 |
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, Free at Sahi.
- Equity delivery brokerage: 0.20% at Choice, ₹10 or 0.05% per order, whichever is lower at Sahi.
- DP charge on selling shares: ₹10 plus GST per instruction at Choice, ₹13.50 per company at Sahi.
The same at both: account opening, Mainboard IPOs and SME IPOs.
Choice vs Sahi: charges side by side
Differs 4 of 7 charges differ between Choice and Sahi. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Choice | Sahi |
|---|---|---|
| Open an account | ||
| Account opening | Free | Free |
| Demat maintenance (AMC) | Free in the first year, then ₹200 plus GST a year | Free |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, free | Yes, free |
| 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) | ₹10 or 0.05% per order, whichever is lower |
| DP charge on selling shares | ₹10 plus GST per instruction | ₹13.50 per company (GST not stated; we add 18% in our calculation) |
| Registration | ||
| SEBI registration | INZ000160131 | INZ000317632 |
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 Sahi pages.
Choice and Sahi 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.
Sahi
Strengths
- ₹10 cap
- ₹0 AMC and account opening
- IPOs free
Worth checking
- Newer broker
Registered with SEBI in 2024.
- DP charge
₹13.50 per sale.
Brokerage calculator: Choice vs Sahi
| Charge | Choice | Sahi |
|---|
Ours, with NSE rates. Change the trade to see what Choice and Sahi would each charge.
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Every comparison with Choice or Sahi, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Choice or Sahi?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹24.78 in broker charges at Sahi and ₹35.40 at Choice (our calculation). For two SME lots worth ₹2,50,000: Choice ₹35.40, Sahi ₹27.73 (our calculation, brokerage and DP charge with GST).
How much would the difference between Choice and Sahi be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Sahi costs ₹127.44 less in broker charges (our calculation). Add the yearly AMC: Choice: Free in the first year, then ₹200 plus GST a year; Sahi: Free.
Can I apply for SME IPOs on Choice and Sahi?
Neither says clearly on its pages that SME IPOs can be applied for.
What is the demat AMC at Choice and Sahi?
Choice: Free in the first year, then ₹200 plus GST a year. Sahi: Free.
What brokerage do Choice and Sahi 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 ₹8.85 at Sahi (our calculation from their published rates).