FYERSSEBI INZ000008524
- Account opening
- ₹0
- Demat AMC
- ₹0
- SME IPOs
- Not stated
- Delivery brokerage
- ₹20 or 0.3%, lower
- Cost to sell ₹15,000 of IPO shares
- ₹38.35Brokerage and DP with GST, ours
INDmoneySEBI INZ000305337
- Account opening
- ₹0
- Demat AMC
- ₹0
- SME IPOs
- No
- Delivery brokerage
- ₹20 or 0.1%, lower
- Cost to sell ₹15,000 of IPO shares
- ₹39.53Brokerage and DP with GST, ours
Where FYERS and INDmoney differ
4 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | FYERS | INDmoney |
|---|---|---|
| One mainboard lot, ₹15,000₹1.18 less at FYERS | ₹38.35 | ₹39.53 |
| Two SME lots, ₹2,50,000₹7.08 less at FYERS | ₹38.35 | ₹45.43 |
| A year: 12 mainboard lots sold₹14.16 less at FYERS | ₹460.20 | ₹474.36 |
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.
- Equity delivery brokerage: ₹20 or 0.3% per executed order, whichever is lower at FYERS, 0.1% or ₹20 per executed order, whichever is lower, minimum ₹2 at INDmoney.
- DP charge on selling shares: ₹12.50 plus GST per scrip at FYERS, ₹18.50 plus GST per ISIN at INDmoney.
- SME IPOs: The help page lists applications by type at FYERS, Not yet. INDmoney says it does not currently support SME IPOs at INDmoney.
The same at both: account opening, Demat maintenance (AMC) and Mainboard IPOs.
FYERS vs INDmoney: charges side by side
Differs 4 of 7 charges differ between FYERS and INDmoney. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | FYERS | INDmoney |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | ₹0 |
| Demat maintenance (AMC) | ₹0 for trading and demat accounts | ₹0 |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, on the FYERS web and mobile platforms, with ₹0 brokerage | Yes |
| SME IPOs | The help page lists applications by type (mainboard or SME) in the IPO section | Not yet. INDmoney says it does not currently support SME IPOs |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹20 or 0.3% per executed order, whichever is lower (Prime: ₹15 or 0.3%) | 0.1% or ₹20 per executed order, whichever is lower, minimum ₹2 |
| DP charge on selling shares | ₹12.50 plus GST per scrip (ISIN) | ₹18.50 plus GST per ISIN (₹3.50 CDSL and ₹15 INDstocks; ₹3.25 and ₹15.25 for women) |
| Registration | ||
| SEBI registration | INZ000008524 | INZ000305337 |
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 FYERS and INDmoney pages.
FYERS and INDmoney strengths and things worth checking
FYERS
Strengths
- ₹0 AMC and account opening
- IPO applications free
- Low DP charge
Worth checking
- Brokerage on delivery
Up to ₹20 per order (₹15 on Prime).
- MTF on small amounts
16.49% a year on funding up to ₹1 lakh.
INDmoney
Strengths
- ₹0 AMC and account opening
- Low minimum brokerage
Worth checking
- Desk orders are expensive
₹500 per order through the trading desk.
- DP charge
₹18.50 plus GST per sale.
- No SME IPOs yet
INDmoney says SME IPO applications are not supported at the moment.
Brokerage calculator: FYERS vs INDmoney
| Charge | FYERS | INDmoney |
|---|
Ours, with NSE rates. Change the trade to see what FYERS and INDmoney would each charge.
Other comparisons
Every comparison with FYERS or INDmoney, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, FYERS or INDmoney?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹38.35 in broker charges at FYERS and ₹39.53 at INDmoney (our calculation). For two SME lots worth ₹2,50,000: FYERS ₹38.35, INDmoney ₹45.43 (our calculation, brokerage and DP charge with GST).
How much would the difference between FYERS and INDmoney be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, FYERS costs ₹14.16 less in broker charges (our calculation). Add the yearly AMC: FYERS: ₹0 for trading and demat accounts; INDmoney: ₹0.
Can I apply for SME IPOs on FYERS and INDmoney?
Neither says clearly on its pages that SME IPOs can be applied for.
What brokerage do FYERS and INDmoney 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 FYERS and ₹17.70 at INDmoney (our calculation from their published rates).
What DP charge do FYERS and INDmoney take when I sell IPO shares?
For one sale of ₹15,000, with GST: ₹14.75 at FYERS; ₹21.83 at INDmoney (our calculation). It is charged on each sale from your demat account.