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
Mirae Asset SharekhanSEBI INZ000171337
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹400/yr
- SME IPOs
- Not stated
- Delivery brokerage
- 0.30%
- Cost to sell ₹15,000 of IPO shares
- ₹53.10Brokerage and DP with GST, ours
Where Choice and Mirae Asset Sharekhan differ
4 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Choice | Mirae Asset Sharekhan |
|---|---|---|
| One mainboard lot, ₹15,000₹17.70 less at Choice | ₹35.40 | ₹53.10 |
| Two SME lots, ₹2,50,000₹849.60 less at Choice | ₹35.40 | ₹885.00 |
| A year: 12 mainboard lots sold₹212.40 less at Choice | ₹424.80 | ₹637.20 |
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.
- Demat maintenance (AMC): Free in the first year, then ₹200 plus GST a year at Choice, ₹400 a year, free for the first year at Mirae Asset Sharekhan.
- Equity delivery brokerage: 0.20% at Choice, 0.30% of trade value at Mirae Asset Sharekhan.
- DP charge on selling shares: ₹10 plus GST per instruction at Choice, Nil when sold through Mirae Asset Sharekhan at Mirae Asset Sharekhan.
The same at both: account opening, Mainboard IPOs and SME IPOs.
Choice vs Mirae Asset Sharekhan: charges side by side
Differs 4 of 7 charges differ between Choice and Mirae Asset Sharekhan. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Choice | Mirae Asset Sharekhan |
|---|---|---|
| Open an account | ||
| Account opening | Free | ₹0 |
| Demat maintenance (AMC) | Free in the first year, then ₹200 plus GST a year | ₹400 a year, free for the first 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) | 0.30% of trade value (minimum 1 paisa a share) |
| DP charge on selling shares | ₹10 plus GST per instruction | Nil when sold through Mirae Asset Sharekhan |
| Registration | ||
| SEBI registration | INZ000160131 | INZ000171337 |
For other trading, equity intraday, Futures and Call and trade differ too. Intraday, futures, call and trade and margin charges are on the Choice and Mirae Asset Sharekhan pages.
Choice and Mirae Asset Sharekhan 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.
Mirae Asset Sharekhan
Strengths
- No DP charge on sales
- Free call and trade
- Research and branches
Worth checking
- Percentage brokerage on delivery
0.30% with no cap: ₹45 on a ₹15,000 sale.
- Options per lot
₹39 per lot each side.
- MTF at 18%
Margin trading interest is 18% a year.
Brokerage calculator: Choice vs Mirae Asset Sharekhan
Other comparisons
Every comparison with Choice or Mirae Asset Sharekhan, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Choice or Mirae Asset Sharekhan?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹35.40 in broker charges at Choice and ₹53.10 at Mirae Asset Sharekhan (our calculation). For two SME lots worth ₹2,50,000: Choice ₹35.40, Mirae Asset Sharekhan ₹885.00 (our calculation, brokerage and DP charge with GST).
How much would the difference between Choice and Mirae Asset Sharekhan be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Choice costs ₹212.40 less in broker charges (our calculation). Add the yearly AMC: Choice: Free in the first year, then ₹200 plus GST a year; Mirae Asset Sharekhan: ₹400 a year, free for the first year.
Can I apply for SME IPOs on Choice and Mirae Asset Sharekhan?
Neither says clearly on its pages that SME IPOs can be applied for.
What is the demat AMC at Choice and Mirae Asset Sharekhan?
Choice: Free in the first year, then ₹200 plus GST a year. Mirae Asset Sharekhan: ₹400 a year, free for the first year.
What brokerage do Choice and Mirae Asset Sharekhan 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 ₹53.10 at Mirae Asset Sharekhan (our calculation from their published rates).