IIFL CapitalSEBI INZ000164132
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹250/yr + GST
- SME IPOs
- Not stated
- Delivery brokerage
- 0.25%
- Cost to sell ₹15,000 of IPO shares
- ₹73.75Brokerage 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 IIFL Capital and PhonePe Invest (Share.Market) differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | IIFL Capital | PhonePe Invest (Share.Market) |
|---|---|---|
| One mainboard lot, ₹15,000Brokerage ₹35.40 less at PhonePe Invest (Share.Market); a DP charge is not published | ₹73.75 | ₹8.85 brokerage; DP charge not published |
| Two SME lots, ₹2,50,000Brokerage ₹713.90 less at PhonePe Invest (Share.Market); a DP charge is not published | ₹767.00 | ₹23.60 brokerage; DP charge not published |
| A year: 12 mainboard lots soldBrokerage ₹424.80 less at PhonePe Invest (Share.Market); a DP charge is not published | ₹885.00 | ₹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 at IIFL Capital, not stated at PhonePe Invest (Share.Market).
- Demat maintenance (AMC): ₹0 in the first year, then ₹250 plus GST a year at IIFL Capital, not stated at PhonePe Invest (Share.Market).
- Equity delivery brokerage: 0.25% at IIFL Capital, ₹20 or 0.05% per executed order, whichever is lower at PhonePe Invest (Share.Market).
- DP charge on selling shares: ₹25 plus GST per scrip at IIFL Capital, not stated at PhonePe Invest (Share.Market).
The same at both: mainboard IPOs and SME IPOs.
IIFL Capital vs PhonePe Invest (Share.Market): charges side by side
Differs 5 of 7 charges differ between IIFL Capital and PhonePe Invest (Share.Market). Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | IIFL Capital | PhonePe Invest (Share.Market) |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | Not stated on the pages we checked |
| Demat maintenance (AMC) | ₹0 in the first year, then ₹250 plus GST a year | Not stated on the pages we checked |
| Apply for IPOs | ||
| Mainboard IPOs | Yes | Yes |
| SME IPOs | Not stated on the pages we checked | Not stated on the pages we checked |
| Sell your IPO shares | ||
| Equity delivery brokerage | 0.25% | ₹20 or 0.05% per executed order, whichever is lower |
| DP charge on selling shares | ₹25 plus GST per scrip | Not stated on the pages we checked |
| Registration | ||
| SEBI registration | INZ000164132 | INZ000302639 |
For other trading, equity intraday, Futures and Call and trade differ too. Intraday, futures, call and trade and margin charges are on the IIFL Capital and PhonePe Invest (Share.Market) pages.
IIFL Capital and PhonePe Invest (Share.Market) strengths and things worth checking
IIFL Capital
Strengths
- Full-service support
- Lower AMC
Worth checking
- Percentage brokerage on delivery
0.25% with no cap: ₹37.50 on a ₹15,000 sale.
- DP charge
₹25 plus GST per sale.
- System square-off
₹100 per order.
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: IIFL Capital vs PhonePe Invest (Share.Market)
| Charge | IIFL Capital | PhonePe Invest (Share.Market) |
|---|
Ours, with NSE rates. Change the trade to see what IIFL Capital and PhonePe Invest (Share.Market) would each charge.
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Every comparison with IIFL Capital or PhonePe Invest (Share.Market), or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, IIFL Capital or PhonePe Invest (Share.Market)?
PhonePe Invest (Share.Market) does not publish its DP charge, so the full cost of selling IPO shares cannot be compared. On brokerage alone, one mainboard lot (₹15,000) costs ₹35.40 less at PhonePe Invest (Share.Market) (our calculation). For two SME lots worth ₹2,50,000: IIFL Capital ₹767.00, 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 IIFL Capital and PhonePe Invest (Share.Market) be over a year?
Not in full, because PhonePe Invest (Share.Market) does not publish its DP charge. On brokerage alone, 12 mainboard lots of ₹15,000 cost ₹424.80 less at PhonePe Invest (Share.Market) (our calculation).
Can I apply for SME IPOs on IIFL Capital and PhonePe Invest (Share.Market)?
Neither says clearly on its pages that SME IPOs can be applied for.
Is account opening free at IIFL Capital and PhonePe Invest (Share.Market)?
IIFL Capital: ₹0. PhonePe Invest (Share.Market): not stated.
What is the demat AMC at IIFL Capital and PhonePe Invest (Share.Market)?
IIFL Capital: ₹0 in the first year, then ₹250 plus GST a year. PhonePe Invest (Share.Market): not stated.