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
PhonePe Invest (Share.Market)SEBI INZ000302639
- Account opening
- Not stated
- Demat AMC
- Not stated
- SME IPOs
- Not stated
- Delivery brokerage
- ₹20 or 0.05%, lower
- Cost to sell ₹15,000 of IPO shares
- Not publishedBrokerage and DP with GST, ours
Where FYERS and PhonePe Invest (Share.Market) differ
6 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | FYERS | PhonePe Invest (Share.Market) |
|---|---|---|
| One mainboard lot, ₹15,000Brokerage ₹14.75 less at PhonePe Invest (Share.Market); a DP charge is not published | ₹38.35 | ₹8.85 brokerage; DP charge not published |
| Two SME lots, ₹2,50,000Same brokerage at both; a DP charge is not published | ₹38.35 | ₹23.60 brokerage; DP charge not published |
| A year: 12 mainboard lots soldBrokerage ₹177.00 less at PhonePe Invest (Share.Market); a DP charge is not published | ₹460.20 | ₹106.20 brokerage; DP charge not published |
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: ₹0 at FYERS, not stated at PhonePe Invest (Share.Market).
- Demat maintenance (AMC): ₹0 for trading and demat accounts at FYERS, not stated at PhonePe Invest (Share.Market).
- Equity delivery brokerage: ₹20 or 0.3% per executed order, whichever is lower at FYERS, ₹20 or 0.05% per executed order, whichever is lower at PhonePe Invest (Share.Market).
- DP charge on selling shares: ₹12.50 plus GST per scrip at FYERS, not stated at PhonePe Invest (Share.Market).
- SME IPOs: The help page lists applications by type at FYERS, not stated at PhonePe Invest (Share.Market).
The same at both: mainboard IPOs.
FYERS vs PhonePe Invest (Share.Market): charges side by side
Differs 6 of 7 charges differ between FYERS and PhonePe Invest (Share.Market). Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | FYERS | PhonePe Invest (Share.Market) |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | Not stated on the pages we checked |
| Demat maintenance (AMC) | ₹0 for trading and demat accounts | Not stated on the pages we checked |
| 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 stated on the pages we checked |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹20 or 0.3% per executed order, whichever is lower (Prime: ₹15 or 0.3%) | ₹20 or 0.05% per executed order, whichever is lower |
| DP charge on selling shares | ₹12.50 plus GST per scrip (ISIN) | Not stated on the pages we checked |
| Registration | ||
| SEBI registration | INZ000008524 | INZ000302639 |
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 PhonePe Invest (Share.Market) pages.
FYERS and PhonePe Invest (Share.Market) 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.
PhonePe Invest (Share.Market)
Strengths
- Low cap on small orders
Worth checking
- Account and DP charges not on the tariff page
The tariff page we read lists no account opening, AMC or DP charge.
- Dealer orders
₹30 extra per order for call and trade or auto square-off.
Brokerage calculator: FYERS vs PhonePe Invest (Share.Market)
| Charge | FYERS | PhonePe Invest (Share.Market) |
|---|
Ours, with NSE rates. Change the trade to see what FYERS and PhonePe Invest (Share.Market) would each charge.
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Every comparison with FYERS or PhonePe Invest (Share.Market), or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, FYERS or PhonePe Invest (Share.Market)?
PhonePe Invest (Share.Market) does not publish its DP charge, so the full cost of selling IPO shares cannot be compared. On brokerage alone, one mainboard lot (₹15,000) costs ₹14.75 less at PhonePe Invest (Share.Market) (our calculation). For two SME lots worth ₹2,50,000: FYERS ₹38.35, PhonePe Invest (Share.Market) ₹23.60 brokerage; DP charge not published (our calculation, brokerage and DP charge with GST).
How much would the difference between FYERS and PhonePe Invest (Share.Market) be over a year?
Not in full, because PhonePe Invest (Share.Market) does not publish its DP charge. On brokerage alone, 12 mainboard lots of ₹15,000 cost ₹177.00 less at PhonePe Invest (Share.Market) (our calculation).
Can I apply for SME IPOs on FYERS and PhonePe Invest (Share.Market)?
Neither says clearly on its pages that SME IPOs can be applied for.
Is account opening free at FYERS and PhonePe Invest (Share.Market)?
FYERS: ₹0. PhonePe Invest (Share.Market): not stated.
What is the demat AMC at FYERS and PhonePe Invest (Share.Market)?
FYERS: ₹0 for trading and demat accounts. PhonePe Invest (Share.Market): not stated.