ICICI DirectSEBI INZ000183631
- Account opening
- ₹0 to ₹975
- Demat AMC
- ₹0 year 1, then ₹700/yr
- SME IPOs
- Yes
- Delivery brokerage
- Depends on plan
- Cost to sell ₹15,000 of IPO shares
- Not publishedBrokerage 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 ICICI Direct and INDmoney differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | ICICI Direct | INDmoney |
|---|---|---|
| One mainboard lot, ₹15,000Difference not worked out: a charge is not published | Not published | ₹39.53 |
| Two SME lots, ₹2,50,000Difference not worked out: a charge is not published | Not published | ₹45.43 |
| A year: 12 mainboard lots soldDifference not worked out: a charge is not published | Not published | ₹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.
- Account opening: ₹0 to ₹975, depending on the account type at ICICI Direct, ₹0 at INDmoney.
- Equity delivery brokerage: Depends on the plan at ICICI Direct, 0.1% or ₹20 per executed order, whichever is lower, minimum ₹2 at INDmoney.
- DP charge on selling shares: not stated at ICICI Direct, ₹18.50 plus GST per ISIN at INDmoney.
- SME IPOs: Yes, the SME IPO page links to applying through UPI at ICICI Direct, Not yet. INDmoney says it does not currently support SME IPOs at INDmoney.
The same at both: demat maintenance (AMC) and Mainboard IPOs.
ICICI Direct vs INDmoney: charges side by side
Differs 5 of 7 charges differ between ICICI Direct and INDmoney. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | ICICI Direct | INDmoney |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 to ₹975, depending on the account type | ₹0 |
| Demat maintenance (AMC) | ₹0 in the first year, ₹700 plus taxes from the second year | ₹0 |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, on ICICI Direct with UPI, or through ICICI Bank net banking (ASBA) | Yes |
| SME IPOs | Yes, the SME IPO page links to applying through UPI | Not yet. INDmoney says it does not currently support SME IPOs |
| Sell your IPO shares | ||
| Equity delivery brokerage | Depends on the plan; not stated on the page we checked. Prime plans say "as low as 0.07%" | 0.1% or ₹20 per executed order, whichever is lower, minimum ₹2 |
| DP charge on selling shares | Not stated on the pages we checked | ₹18.50 plus GST per ISIN (₹3.50 CDSL and ₹15 INDstocks; ₹3.25 and ₹15.25 for women) |
| Registration | ||
| SEBI registration | INZ000183631 | INZ000305337 |
For other trading, equity intraday, Futures and Call and trade differ too. Intraday, futures, call and trade and margin charges are on the ICICI Direct and INDmoney pages.
ICICI Direct and INDmoney strengths and things worth checking
ICICI Direct
Strengths
- Bank-linked
- ₹0 futures brokerage on Neo
Worth checking
- Higher AMC
₹700 plus taxes a year from the second year.
- Account opening fee
Up to ₹975, depending on the account type.
- Delivery and DP charges not on the page
Ask ICICI Direct for the delivery brokerage and DP charge on your plan before you sell IPO shares.
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: ICICI Direct vs INDmoney
| Charge | ICICI Direct | INDmoney |
|---|
Ours, with NSE rates. Change the trade to see what ICICI Direct and INDmoney would each charge.
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Every comparison with ICICI Direct or INDmoney, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, ICICI Direct or INDmoney?
ICICI Direct does not publish its DP charge, so the full cost of selling IPO shares cannot be compared. For two SME lots worth ₹2,50,000: ICICI Direct Not published, INDmoney ₹45.43 (our calculation, brokerage and DP charge with GST).
How much would the difference between ICICI Direct and INDmoney be over a year?
Not in full, because ICICI Direct does not publish its DP charge.
Can I apply for SME IPOs on ICICI Direct and INDmoney?
ICICI Direct lets you apply for SME IPOs; INDmoney does not support them yet.
Is account opening free at ICICI Direct and INDmoney?
ICICI Direct: ₹0 to ₹975, depending on the account type. INDmoney: ₹0.
What brokerage do ICICI Direct 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 not published at ICICI Direct and ₹17.70 at INDmoney (our calculation from their published rates).