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
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 HDFC Securities (HDFC Sky) and PhonePe Invest (Share.Market) differ
6 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | HDFC Securities (HDFC Sky) | PhonePe Invest (Share.Market) |
|---|---|---|
| One mainboard lot, ₹15,000Brokerage ₹14.75 less at PhonePe Invest (Share.Market); a DP charge is not published | ₹47.20 | ₹8.85 brokerage; DP charge not published |
| Two SME lots, ₹2,50,000Same brokerage at both; a DP charge is not published | ₹47.20 | ₹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 | ₹566.40 | ₹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: Free at HDFC Securities (HDFC Sky), not stated at PhonePe Invest (Share.Market).
- Demat maintenance (AMC): ₹0 for the first year, then ₹20 a month plus GST at HDFC Securities (HDFC Sky), not stated at PhonePe Invest (Share.Market).
- Equity delivery brokerage: ₹20 or 2.5% per order, whichever is lower at HDFC Securities (HDFC Sky), ₹20 or 0.05% per executed order, whichever is lower at PhonePe Invest (Share.Market).
- DP charge on selling shares: ₹20 per scrip at HDFC Securities (HDFC Sky), not stated at PhonePe Invest (Share.Market).
- SME IPOs: Yes. HDFC Sky says you can apply for SME IPOs in one click at HDFC Securities (HDFC Sky), not stated at PhonePe Invest (Share.Market).
The same at both: mainboard IPOs.
HDFC Securities (HDFC Sky) vs PhonePe Invest (Share.Market): charges side by side
Differs 6 of 7 charges differ between HDFC Securities (HDFC Sky) and PhonePe Invest (Share.Market). Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | HDFC Securities (HDFC Sky) | PhonePe Invest (Share.Market) |
|---|---|---|
| Open an account | ||
| Account opening | Free | Not stated on the pages we checked |
| Demat maintenance (AMC) | ₹0 for the first year, then ₹20 a month plus GST (basic services demat accounts under ₹50,000: ₹0) | Not stated on the pages we checked |
| 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 stated on the pages we checked |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹20 or 2.5% per order, whichever is lower | ₹20 or 0.05% per executed order, whichever is lower |
| 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 | 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 HDFC Securities (HDFC Sky) and PhonePe Invest (Share.Market) pages.
HDFC Securities (HDFC Sky) and PhonePe Invest (Share.Market) 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.
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: HDFC Securities (HDFC Sky) vs PhonePe Invest (Share.Market)
| Charge | HDFC Securities (HDFC Sky) | PhonePe Invest (Share.Market) |
|---|
Ours, with NSE rates. Change the trade to see what HDFC Securities (HDFC Sky) and PhonePe Invest (Share.Market) would each charge.
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Every comparison with HDFC Securities (HDFC Sky) or PhonePe Invest (Share.Market), or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, HDFC Securities (HDFC Sky) 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: HDFC Securities (HDFC Sky) ₹47.20, 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 HDFC Securities (HDFC Sky) 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 HDFC Securities (HDFC Sky) and PhonePe Invest (Share.Market)?
HDFC Securities (HDFC Sky) lets you apply for SME IPOs; PhonePe Invest (Share.Market) does not say so on the pages we checked.
Is account opening free at HDFC Securities (HDFC Sky) and PhonePe Invest (Share.Market)?
HDFC Securities (HDFC Sky): Free. PhonePe Invest (Share.Market): not stated.
What is the demat AMC at HDFC Securities (HDFC Sky) and PhonePe Invest (Share.Market)?
HDFC Securities (HDFC Sky): ₹0 for the first year, then ₹20 a month plus GST. PhonePe Invest (Share.Market): not stated.