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
Kotak Securities (Kotak Neo)SEBI INZ000200137
- Account opening
- ₹0
- Demat AMC
- Not stated
- SME IPOs
- Yes
- Delivery brokerage
- 0.20%
- Cost to sell ₹15,000 of IPO shares
- Not publishedBrokerage and DP with GST, ours
Where HDFC Securities (HDFC Sky) and Kotak Securities (Kotak Neo) differ
4 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | HDFC Securities (HDFC Sky) | Kotak Securities (Kotak Neo) |
|---|---|---|
| One mainboard lot, ₹15,000Brokerage ₹11.80 less at HDFC Securities (HDFC Sky); a DP charge is not published | ₹47.20 | ₹35.40 brokerage; DP charge not published |
| Two SME lots, ₹2,50,000Brokerage ₹566.40 less at HDFC Securities (HDFC Sky); a DP charge is not published | ₹47.20 | ₹590.00 brokerage; DP charge not published |
| A year: 12 mainboard lots soldBrokerage ₹141.60 less at HDFC Securities (HDFC Sky); a DP charge is not published | ₹566.40 | ₹424.80 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.
- Demat maintenance (AMC): ₹0 for the first year, then ₹20 a month plus GST at HDFC Securities (HDFC Sky), ₹0 for a basic services demat account at Kotak Securities (Kotak Neo).
- Equity delivery brokerage: ₹20 or 2.5% per order, whichever is lower at HDFC Securities (HDFC Sky), 0.20% at Kotak Securities (Kotak Neo).
- DP charge on selling shares: ₹20 per scrip at HDFC Securities (HDFC Sky), not stated at Kotak Securities (Kotak Neo).
The same at both: account opening, Mainboard IPOs and SME IPOs.
HDFC Securities (HDFC Sky) vs Kotak Securities (Kotak Neo): charges side by side
Differs 4 of 7 charges differ between HDFC Securities (HDFC Sky) and Kotak Securities (Kotak Neo). Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | HDFC Securities (HDFC Sky) | Kotak Securities (Kotak Neo) |
|---|---|---|
| Open an account | ||
| Account opening | Free | ₹0 on the Trade Free plan (₹99 one time on Trade Free Youth, for under 30s) |
| Demat maintenance (AMC) | ₹0 for the first year, then ₹20 a month plus GST (basic services demat accounts under ₹50,000: ₹0) | ₹0 for a basic services demat account (BSDA) with holdings up to ₹4 lakh; other AMC not stated on the pricing page |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, on HDFC Sky | Yes, on Kotak Neo with UPI |
| SME IPOs | Yes. HDFC Sky says you can apply for SME IPOs in one click | Yes. Kotak Neo says SME IPOs can be applied for in its current IPO section with UPI |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹20 or 2.5% per order, whichever is lower | 0.20% (Trade Free Pro: 0.10%; Trade Free Youth: ₹0) |
| DP charge on selling shares | ₹20 per scrip (the support page does not say whether GST is extra; we add 18% in our calculation) | Not stated on the pages we checked |
| Registration | ||
| SEBI registration | INZ000186937 | INZ000200137 |
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 Kotak Securities (Kotak Neo) pages.
HDFC Securities (HDFC Sky) and Kotak Securities (Kotak Neo) 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.
Kotak Securities (Kotak Neo)
Strengths
- ₹10 intraday and F&O
- SME IPOs
- Lower MTF on Pro
Worth checking
- Delivery is a percentage
0.20% on the default plan with no cap stated: ₹30 on a ₹15,000 sale.
- DP charge and AMC not on the pricing page
Check them before you sell IPO shares.
Brokerage calculator: HDFC Securities (HDFC Sky) vs Kotak Securities (Kotak Neo)
| Charge | HDFC Securities (HDFC Sky) | Kotak Securities (Kotak Neo) |
|---|
Ours, with NSE rates. Change the trade to see what HDFC Securities (HDFC Sky) and Kotak Securities (Kotak Neo) would each charge.
Other comparisons
- HDFC Securities (HDFC Sky) vs INDmoney
- Kotak Securities (Kotak Neo) vs m.Stock
- Kotak Securities (Kotak Neo) vs Sahi
Every comparison with HDFC Securities (HDFC Sky) or Kotak Securities (Kotak Neo), or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, HDFC Securities (HDFC Sky) or Kotak Securities (Kotak Neo)?
Kotak Securities (Kotak Neo) 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 ₹11.80 less at HDFC Securities (HDFC Sky) (our calculation). For two SME lots worth ₹2,50,000: HDFC Securities (HDFC Sky) ₹47.20, Kotak Securities (Kotak Neo) ₹590.00 brokerage; DP charge not published (our calculation, brokerage and DP charge with GST).
How much would the difference between HDFC Securities (HDFC Sky) and Kotak Securities (Kotak Neo) be over a year?
Not in full, because Kotak Securities (Kotak Neo) does not publish its DP charge. On brokerage alone, 12 mainboard lots of ₹15,000 cost ₹141.60 less at HDFC Securities (HDFC Sky) (our calculation).
Can I apply for SME IPOs on HDFC Securities (HDFC Sky) and Kotak Securities (Kotak Neo)?
Both let you apply for SME IPOs.
What is the demat AMC at HDFC Securities (HDFC Sky) and Kotak Securities (Kotak Neo)?
HDFC Securities (HDFC Sky): ₹0 for the first year, then ₹20 a month plus GST. Kotak Securities (Kotak Neo): ₹0 for a basic services demat account.
What brokerage do HDFC Securities (HDFC Sky) and Kotak Securities (Kotak Neo) 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 ₹35.40 at Kotak Securities (Kotak Neo) (our calculation from their published rates).