HDFC Securities (HDFC Sky)SEBI INZ000186937
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹240/yr + GST
- SME IPOs
- Yes
- Delivery brokerage
- ₹20 or 2.5%, lower
- Cost to sell ₹15,000 of IPO shares
- ₹47.20Brokerage 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 HDFC Securities (HDFC Sky) and INDmoney differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | HDFC Securities (HDFC Sky) | INDmoney |
|---|---|---|
| One mainboard lot, ₹15,000₹7.67 less at INDmoney | ₹47.20 | ₹39.53 |
| Two SME lots, ₹2,50,000₹1.77 less at INDmoney | ₹47.20 | ₹45.43 |
| A year: 12 mainboard lots sold₹92.04 less at INDmoney | ₹566.40 | ₹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.
- Demat maintenance (AMC): ₹0 for the first year, then ₹20 a month plus GST at HDFC Securities (HDFC Sky), ₹0 at INDmoney.
- Equity delivery brokerage: ₹20 or 2.5% per order, whichever is lower at HDFC Securities (HDFC Sky), 0.1% or ₹20 per executed order, whichever is lower, minimum ₹2 at INDmoney.
- DP charge on selling shares: ₹20 per scrip at HDFC Securities (HDFC Sky), ₹18.50 plus GST per ISIN at INDmoney.
- SME IPOs: Yes. HDFC Sky says you can apply for SME IPOs in one click at HDFC Securities (HDFC Sky), Not yet. INDmoney says it does not currently support SME IPOs at INDmoney.
The same at both: account opening and Mainboard IPOs.
HDFC Securities (HDFC Sky) vs INDmoney: charges side by side
Differs 5 of 7 charges differ between HDFC Securities (HDFC Sky) and INDmoney. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | HDFC Securities (HDFC Sky) | INDmoney |
|---|---|---|
| Open an account | ||
| Account opening | Free | ₹0 |
| Demat maintenance (AMC) | ₹0 for the first year, then ₹20 a month plus GST (basic services demat accounts under ₹50,000: ₹0) | ₹0 |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, on HDFC Sky | Yes |
| SME IPOs | Yes. HDFC Sky says you can apply for SME IPOs in one click | Not yet. INDmoney says it does not currently support SME IPOs |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹20 or 2.5% per order, whichever is lower | 0.1% or ₹20 per executed order, whichever is lower, minimum ₹2 |
| DP charge on selling shares | ₹20 per scrip (the support page does not say whether GST is extra; we add 18% in our calculation) | ₹18.50 plus GST per ISIN (₹3.50 CDSL and ₹15 INDstocks; ₹3.25 and ₹15.25 for women) |
| Registration | ||
| SEBI registration | INZ000186937 | 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 HDFC Securities (HDFC Sky) and INDmoney pages.
HDFC Securities (HDFC Sky) and INDmoney strengths and things worth checking
HDFC Securities (HDFC Sky)
Strengths
- Flat ₹20 cap
- SME IPOs
- ₹0 account opening
Worth checking
- AMC after year one
₹20 a month plus GST from the second year.
- Two MTF rates published
The pricing page says 1% a month and the support page says 15% a year. Confirm before you use margin funding.
- DP charge
₹20 per sale.
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: HDFC Securities (HDFC Sky) vs INDmoney
| Charge | HDFC Securities (HDFC Sky) | INDmoney |
|---|
Ours, with NSE rates. Change the trade to see what HDFC Securities (HDFC Sky) and INDmoney would each charge.
Other comparisons
Every comparison with HDFC Securities (HDFC Sky) or INDmoney, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, HDFC Securities (HDFC Sky) or INDmoney?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹39.53 in broker charges at INDmoney and ₹47.20 at HDFC Securities (HDFC Sky) (our calculation). For two SME lots worth ₹2,50,000: HDFC Securities (HDFC Sky) ₹47.20, INDmoney ₹45.43 (our calculation, brokerage and DP charge with GST).
How much would the difference between HDFC Securities (HDFC Sky) and INDmoney be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, INDmoney costs ₹92.04 less in broker charges (our calculation). Add the yearly AMC: HDFC Securities (HDFC Sky): ₹0 for the first year, then ₹20 a month plus GST; INDmoney: ₹0.
Can I apply for SME IPOs on HDFC Securities (HDFC Sky) and INDmoney?
HDFC Securities (HDFC Sky) lets you apply for SME IPOs; INDmoney does not support them yet.
What is the demat AMC at HDFC Securities (HDFC Sky) and INDmoney?
HDFC Securities (HDFC Sky): ₹0 for the first year, then ₹20 a month plus GST. INDmoney: ₹0.
What brokerage do HDFC Securities (HDFC Sky) 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 HDFC Securities (HDFC Sky) and ₹17.70 at INDmoney (our calculation from their published rates).