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
SAMCOSEBI INZ000002535
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹400/yr + taxes
- SME IPOs
- Not stated
- Delivery brokerage
- ₹20 cap
- Cost to sell ₹15,000 of IPO shares
- ₹47.20Brokerage and DP with GST, ours
Where Choice and SAMCO differ
4 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Choice | SAMCO |
|---|---|---|
| One mainboard lot, ₹15,000₹11.80 less at Choice | ₹35.40 | ₹47.20 |
| Two SME lots, ₹2,50,000₹11.80 less at Choice | ₹35.40 | ₹47.20 |
| A year: 12 mainboard lots sold₹141.60 less at Choice | ₹424.80 | ₹566.40 |
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 ₹400 plus taxes a year for individuals at SAMCO.
- Equity delivery brokerage: 0.20% at Choice, ₹20 per executed order or 2.5%, whichever is lower at SAMCO.
- DP charge on selling shares: ₹10 plus GST per instruction at Choice, ₹20 plus taxes within SAMCO at SAMCO.
The same at both: account opening, Mainboard IPOs and SME IPOs.
Choice vs SAMCO: charges side by side
Differs 4 of 7 charges differ between Choice and SAMCO. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Choice | SAMCO |
|---|---|---|
| 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 ₹400 plus taxes a year for individuals |
| 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) | ₹20 per executed order or 2.5%, whichever is lower (the headline says 0.25% or ₹20) |
| DP charge on selling shares | ₹10 plus GST per instruction | ₹20 plus taxes within SAMCO; ₹25 or 0.02%, whichever is higher, plus taxes outside |
| Registration | ||
| SEBI registration | INZ000160131 | INZ000002535 |
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 SAMCO pages.
Choice and SAMCO 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.
SAMCO
Strengths
- ₹20 cap
Worth checking
- Two delivery rates on one page
The headline says 0.25% or ₹20 and the table says 2.5% or ₹20. Both cap at ₹20.
- AMC after year one
₹400 plus taxes a year.
- Dealer orders
₹50 plus taxes per order.
Brokerage calculator: Choice vs SAMCO
| Charge | Choice | SAMCO |
|---|
Ours, with NSE rates. Change the trade to see what Choice and SAMCO would each charge.
Other comparisons
Every comparison with Choice or SAMCO, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Choice or SAMCO?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹35.40 in broker charges at Choice and ₹47.20 at SAMCO (our calculation). For two SME lots worth ₹2,50,000: Choice ₹35.40, SAMCO ₹47.20 (our calculation, brokerage and DP charge with GST).
How much would the difference between Choice and SAMCO be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Choice 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; SAMCO: ₹0 in the first year, then ₹400 plus taxes a year for individuals.
Can I apply for SME IPOs on Choice and SAMCO?
Neither says clearly on its pages that SME IPOs can be applied for.
What is the demat AMC at Choice and SAMCO?
Choice: Free in the first year, then ₹200 plus GST a year. SAMCO: ₹0 in the first year, then ₹400 plus taxes a year for individuals.
What brokerage do Choice and SAMCO 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 SAMCO (our calculation from their published rates).