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
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 ICICI Direct and PhonePe Invest (Share.Market) differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | ICICI Direct | PhonePe Invest (Share.Market) |
|---|---|---|
| One mainboard lot, ₹15,000Difference not worked out: a charge is not published | Not published | ₹8.85 brokerage; DP charge not published |
| Two SME lots, ₹2,50,000Difference not worked out: a charge is not published | Not published | ₹23.60 brokerage; DP charge not published |
| A year: 12 mainboard lots soldDifference not worked out: a charge is not published | Not published | ₹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: ₹0 to ₹975, depending on the account type at ICICI Direct, not stated at PhonePe Invest (Share.Market).
- Demat maintenance (AMC): ₹0 in the first year, ₹700 plus taxes from the second year at ICICI Direct, not stated at PhonePe Invest (Share.Market).
- Equity delivery brokerage: Depends on the plan at ICICI Direct, ₹20 or 0.05% per executed order, whichever is lower at PhonePe Invest (Share.Market).
- SME IPOs: Yes, the SME IPO page links to applying through UPI at ICICI Direct, not stated at PhonePe Invest (Share.Market).
The same at both: dP charge on selling shares and Mainboard IPOs.
ICICI Direct vs PhonePe Invest (Share.Market): charges side by side
Differs 5 of 7 charges differ between ICICI Direct and PhonePe Invest (Share.Market). Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | ICICI Direct | PhonePe Invest (Share.Market) |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 to ₹975, depending on the account type | Not stated on the pages we checked |
| Demat maintenance (AMC) | ₹0 in the first year, ₹700 plus taxes from the second year | Not stated on the pages we checked |
| 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 stated on the pages we checked |
| 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%" | ₹20 or 0.05% per executed order, whichever is lower |
| DP charge on selling shares | Not stated on the pages we checked | Not stated on the pages we checked |
| Registration | ||
| SEBI registration | INZ000183631 | INZ000302639 |
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 PhonePe Invest (Share.Market) pages.
ICICI Direct and PhonePe Invest (Share.Market) 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.
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: ICICI Direct vs PhonePe Invest (Share.Market)
| Charge | ICICI Direct | PhonePe Invest (Share.Market) |
|---|
Ours, with NSE rates. Change the trade to see what ICICI Direct and PhonePe Invest (Share.Market) would each charge.
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Every comparison with ICICI Direct or PhonePe Invest (Share.Market), or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, ICICI Direct or PhonePe Invest (Share.Market)?
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, 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 ICICI Direct and PhonePe Invest (Share.Market) 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 PhonePe Invest (Share.Market)?
ICICI Direct lets you apply for SME IPOs; PhonePe Invest (Share.Market) does not say so on the pages we checked.
Is account opening free at ICICI Direct and PhonePe Invest (Share.Market)?
ICICI Direct: ₹0 to ₹975, depending on the account type. PhonePe Invest (Share.Market): not stated.
What is the demat AMC at ICICI Direct and PhonePe Invest (Share.Market)?
ICICI Direct: ₹0 in the first year, ₹700 plus taxes from the second year. PhonePe Invest (Share.Market): not stated.