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
ZerodhaSEBI INZ000031633
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹300/yr + GST
- SME IPOs
- Yes
- Delivery brokerage
- ₹0
- Cost to sell ₹15,000 of IPO shares
- ₹15.34Brokerage and DP with GST, ours
Where HDFC Securities (HDFC Sky) and Zerodha differ
4 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | HDFC Securities (HDFC Sky) | Zerodha |
|---|---|---|
| One mainboard lot, ₹15,000₹31.86 less at Zerodha | ₹47.20 | ₹15.34 |
| Two SME lots, ₹2,50,000₹31.86 less at Zerodha | ₹47.20 | ₹15.34 |
| A year: 12 mainboard lots sold₹382.32 less at Zerodha | ₹566.40 | ₹184.08 |
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), Free in the first year for resident individuals, then ₹300 a year plus… at Zerodha.
- Equity delivery brokerage: ₹20 or 2.5% per order, whichever is lower at HDFC Securities (HDFC Sky), ₹0 at Zerodha.
- DP charge on selling shares: ₹20 per scrip at HDFC Securities (HDFC Sky), ₹13 plus GST per scrip at Zerodha.
The same at both: account opening, Mainboard IPOs and SME IPOs.
HDFC Securities (HDFC Sky) vs Zerodha: charges side by side
Differs 4 of 7 charges differ between HDFC Securities (HDFC Sky) and Zerodha. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | HDFC Securities (HDFC Sky) | Zerodha |
|---|---|---|
| Open an account | ||
| Account opening | Free | ₹0 for individual accounts (₹500 for NRI, partnership, LLP and corporate accounts) |
| Demat maintenance (AMC) | ₹0 for the first year, then ₹20 a month plus GST (basic services demat accounts under ₹50,000: ₹0) | Free in the first year for resident individuals, then ₹300 a year plus GST, charged quarterly |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, on HDFC Sky | Yes, through Kite or Console with a UPI mandate |
| SME IPOs | Yes. HDFC Sky says you can apply for SME IPOs in one click | Yes, NSE and BSE SME IPOs through UPI. Only one bid per SME IPO, and no net banking fallback if the UPI payment fails |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹20 or 2.5% per order, whichever is lower | ₹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) | ₹13 plus GST per scrip (₹3.50 CDSL, ₹9.50 Zerodha); ₹15.34 with GST |
| Registration | ||
| SEBI registration | INZ000186937 | INZ000031633 |
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 Zerodha pages.
HDFC Securities (HDFC Sky) and Zerodha 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.
Zerodha
Strengths
- ₹0 brokerage on delivery
- Lower DP charge
- SME IPOs on both exchanges
Worth checking
- AMC after the first year
₹300 a year plus GST for a regular demat account.
- SME IPO limits
One bid per SME IPO, and if the UPI payment fails you cannot apply by net banking.
- Dealer orders cost extra
₹50 per order through call and trade or auto square-off.
Brokerage calculator: HDFC Securities (HDFC Sky) vs Zerodha
| Charge | HDFC Securities (HDFC Sky) | Zerodha |
|---|
Ours, with NSE rates. Change the trade to see what HDFC Securities (HDFC Sky) and Zerodha would each charge.
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Frequently asked questions
Which is cheaper for selling IPO shares, HDFC Securities (HDFC Sky) or Zerodha?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹15.34 in broker charges at Zerodha and ₹47.20 at HDFC Securities (HDFC Sky) (our calculation). For two SME lots worth ₹2,50,000: HDFC Securities (HDFC Sky) ₹47.20, Zerodha ₹15.34 (our calculation, brokerage and DP charge with GST).
How much would the difference between HDFC Securities (HDFC Sky) and Zerodha be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Zerodha costs ₹382.32 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; Zerodha: Free in the first year for resident individuals, then ₹300 a year plus….
Can I apply for SME IPOs on HDFC Securities (HDFC Sky) and Zerodha?
Both let you apply for SME IPOs.
What is the demat AMC at HDFC Securities (HDFC Sky) and Zerodha?
HDFC Securities (HDFC Sky): ₹0 for the first year, then ₹20 a month plus GST. Zerodha: Free in the first year for resident individuals, then ₹300 a year plus….
What brokerage do HDFC Securities (HDFC Sky) and Zerodha 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 ₹0.00 at Zerodha (our calculation from their published rates).