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
UpstoxSEBI INZ000315837
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹300/yr + GST
- SME IPOs
- Yes
- Delivery brokerage
- ₹20/order
- Cost to sell ₹15,000 of IPO shares
- ₹47.20Brokerage and DP with GST, ours
Where HDFC Securities (HDFC Sky) and Upstox differ
3 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | HDFC Securities (HDFC Sky) | Upstox |
|---|---|---|
| One mainboard lot, ₹15,000Same at both | ₹47.20 | ₹47.20 |
| Two SME lots, ₹2,50,000Same at both | ₹47.20 | ₹47.20 |
| A year: 12 mainboard lots soldSame at both | ₹566.40 | ₹566.40 |
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 in the first year for new customers, then ₹300 plus GST a year at Upstox.
- Equity delivery brokerage: ₹20 or 2.5% per order, whichever is lower at HDFC Securities (HDFC Sky), ₹20 per executed order at Upstox.
- DP charge on selling shares: ₹20 per scrip at HDFC Securities (HDFC Sky), ₹20 plus GST per scrip per day at Upstox.
The same at both: account opening, Mainboard IPOs and SME IPOs.
HDFC Securities (HDFC Sky) vs Upstox: charges side by side
Differs 3 of 7 charges differ between HDFC Securities (HDFC Sky) and Upstox. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | HDFC Securities (HDFC Sky) | Upstox |
|---|---|---|
| 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 in the first year for new customers, then ₹300 plus GST a year (BSDA accounts have separate terms) |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, on HDFC Sky | Yes, in the IPO section of the app with a UPI mandate |
| SME IPOs | Yes. HDFC Sky says you can apply for SME IPOs in one click | Yes, using the SME IPO filter in the IPO section. SME bids need a price; cut-off is not allowed |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹20 or 2.5% per order, whichever is lower | ₹20 per executed order |
| DP charge on selling shares | ₹20 per scrip (the support page does not say whether GST is extra; we add 18% in our calculation) | ₹20 plus GST per scrip per day (₹3.50 CDSL and ₹16.50 Upstox; ₹3.25 and ₹16.75 for women) |
| Registration | ||
| SEBI registration | INZ000186937 | INZ000315837 |
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 Upstox pages.
HDFC Securities (HDFC Sky) and Upstox 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.
Upstox
Strengths
- Zero commission on IPOs
- ₹0 account opening
- SME IPOs in the app
Worth checking
- Flat ₹20 on delivery
Even a small sale of IPO shares costs ₹20 brokerage plus a ₹20 plus GST DP charge.
- Dealer orders cost more
Call and trade and auto square-off cost ₹75 plus GST each.
- AMC after the first year
₹300 plus GST a year.
Brokerage calculator: HDFC Securities (HDFC Sky) vs Upstox
| Charge | HDFC Securities (HDFC Sky) | Upstox |
|---|
Ours, with NSE rates. Change the trade to see what HDFC Securities (HDFC Sky) and Upstox would each charge.
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Frequently asked questions
Which is cheaper for selling IPO shares, HDFC Securities (HDFC Sky) or Upstox?
Selling one mainboard lot of IPO shares (₹15,000) costs the same ₹47.20 in broker charges at both. For two SME lots worth ₹2,50,000: HDFC Securities (HDFC Sky) ₹47.20, Upstox ₹47.20 (our calculation, brokerage and DP charge with GST).
How much would the difference between HDFC Securities (HDFC Sky) and Upstox be over a year?
Nothing on selling: 12 mainboard lots of ₹15,000 cost ₹566.40 at both (our calculation). Compare the yearly AMC as well.
Can I apply for SME IPOs on HDFC Securities (HDFC Sky) and Upstox?
Both let you apply for SME IPOs.
What is the demat AMC at HDFC Securities (HDFC Sky) and Upstox?
HDFC Securities (HDFC Sky): ₹0 for the first year, then ₹20 a month plus GST. Upstox: ₹0 in the first year for new customers, then ₹300 plus GST a year.
What brokerage do HDFC Securities (HDFC Sky) and Upstox 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 ₹23.60 at Upstox (our calculation from their published rates).