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
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 ICICI Direct and Kotak Securities (Kotak Neo) differ
4 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | ICICI Direct | Kotak Securities (Kotak Neo) |
|---|---|---|
| One mainboard lot, ₹15,000Difference not worked out: a charge is not published | Not published | ₹35.40 brokerage; DP charge not published |
| Two SME lots, ₹2,50,000Difference not worked out: a charge is not published | Not published | ₹590.00 brokerage; DP charge not published |
| A year: 12 mainboard lots soldDifference not worked out: a charge is not published | Not published | ₹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.
- Account opening: ₹0 to ₹975, depending on the account type at ICICI Direct, ₹0 on the Trade Free plan at Kotak Securities (Kotak Neo).
- Demat maintenance (AMC): ₹0 in the first year, ₹700 plus taxes from the second year at ICICI Direct, ₹0 for a basic services demat account at Kotak Securities (Kotak Neo).
- Equity delivery brokerage: Depends on the plan at ICICI Direct, 0.20% at Kotak Securities (Kotak Neo).
The same at both: dP charge on selling shares, Mainboard IPOs and SME IPOs.
ICICI Direct vs Kotak Securities (Kotak Neo): charges side by side
Differs 4 of 7 charges differ between ICICI Direct and Kotak Securities (Kotak Neo). Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | ICICI Direct | Kotak Securities (Kotak Neo) |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 to ₹975, depending on the account type | ₹0 on the Trade Free plan (₹99 one time on Trade Free Youth, for under 30s) |
| Demat maintenance (AMC) | ₹0 in the first year, ₹700 plus taxes from the second year | ₹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 ICICI Direct with UPI, or through ICICI Bank net banking (ASBA) | Yes, on Kotak Neo with UPI |
| SME IPOs | Yes, the SME IPO page links to applying through UPI | Yes. Kotak Neo says SME IPOs can be applied for in its current IPO section with UPI |
| 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%" | 0.20% (Trade Free Pro: 0.10%; Trade Free Youth: ₹0) |
| DP charge on selling shares | Not stated on the pages we checked | Not stated on the pages we checked |
| Registration | ||
| SEBI registration | INZ000183631 | INZ000200137 |
For other trading, equity intraday, Futures and Margin trading (MTF) interest differ too. Intraday, futures, call and trade and margin charges are on the ICICI Direct and Kotak Securities (Kotak Neo) pages.
ICICI Direct and Kotak Securities (Kotak Neo) 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.
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: ICICI Direct vs Kotak Securities (Kotak Neo)
| Charge | ICICI Direct | Kotak Securities (Kotak Neo) |
|---|
Ours, with NSE rates. Change the trade to see what ICICI Direct and Kotak Securities (Kotak Neo) would each charge.
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Every comparison with ICICI Direct or Kotak Securities (Kotak Neo), or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, ICICI Direct or Kotak Securities (Kotak Neo)?
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, 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 ICICI Direct and Kotak Securities (Kotak Neo) 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 Kotak Securities (Kotak Neo)?
Both let you apply for SME IPOs.
Is account opening free at ICICI Direct and Kotak Securities (Kotak Neo)?
ICICI Direct: ₹0 to ₹975, depending on the account type. Kotak Securities (Kotak Neo): ₹0 on the Trade Free plan.
What is the demat AMC at ICICI Direct and Kotak Securities (Kotak Neo)?
ICICI Direct: ₹0 in the first year, ₹700 plus taxes from the second year. Kotak Securities (Kotak Neo): ₹0 for a basic services demat account.