Indiabulls SecuritiesSEBI INZ000036136
- Account opening
- ₹0
- Demat AMC
- ₹25/month + GST
- SME IPOs
- Yes
- Delivery brokerage
- ₹11 or 2.5%, lower
- Cost to sell ₹15,000 of IPO shares
- ₹36.58Brokerage and DP with GST, ours
ProStocksSEBI INZ000048660
- Account opening
- ₹0
- Demat AMC
- ₹0 (₹1,000 deposit)
- SME IPOs
- Not stated
- Delivery brokerage
- ₹0
- Cost to sell ₹15,000 of IPO shares
- ₹23.60Brokerage and DP with GST, ours
Where Indiabulls Securities and ProStocks differ
7 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Indiabulls Securities | ProStocks |
|---|---|---|
| One mainboard lot, ₹15,000₹12.98 less at ProStocks | ₹36.58 | ₹23.60 |
| Two SME lots, ₹2,50,000₹48.38 less at ProStocks | ₹71.98 | ₹23.60 |
| A year: 12 mainboard lots sold₹155.76 less at ProStocks | ₹438.96 | ₹283.20 |
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 Indiabulls Securities, No fee listed at ProStocks.
- Demat maintenance (AMC): ₹25 plus GST a month on the pricing page at Indiabulls Securities, None at ProStocks.
- Equity delivery brokerage: 2.5% or ₹11 per executed order, whichever is lower at Indiabulls Securities, ₹0 at ProStocks.
- DP charge on selling shares: ₹20 or 0.02% of the value, whichever is higher, plus GST, when sold… at Indiabulls Securities, ₹20 per scrip plus 18% GST at ProStocks.
- Mainboard IPOs: Yes. The home page describes ASBA, where the money stays in your bank… at Indiabulls Securities, not stated at ProStocks.
- SME IPOs: Yes, confirmed by Indiabulls Securities on 23 Oct 2026 at Indiabulls Securities, not stated at ProStocks.
Indiabulls Securities vs ProStocks: charges side by side
Differs 7 of 7 charges differ between Indiabulls Securities and ProStocks. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Indiabulls Securities | ProStocks |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | No fee listed (online application) |
| Demat maintenance (AMC) | ₹25 plus GST a month on the pricing page; ₹300 a year plus GST on the DP schedule | None; ₹1,000 refundable demat deposit |
| Apply for IPOs | ||
| Mainboard IPOs | Yes. The home page describes ASBA, where the money stays in your bank account until allotment | Not stated on the pages we checked |
| SME IPOs | Yes, confirmed by Indiabulls Securities on 23 Oct 2026 (not yet stated on its pricing page) | Not stated on the pages we checked |
| Sell your IPO shares | ||
| Equity delivery brokerage | 2.5% or ₹11 per executed order, whichever is lower | ₹0 (flat fee plan) |
| DP charge on selling shares | ₹20 or 0.02% of the value, whichever is higher, plus GST, when sold through Indiabulls Securities (₹30 or 0.03% otherwise) | ₹20 per scrip plus 18% GST |
| Registration | ||
| SEBI registration | INZ000036136 | INZ000048660 |
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 Indiabulls Securities and ProStocks pages.
Indiabulls Securities and ProStocks strengths and things worth checking
Indiabulls Securities
Strengths
- Flat ₹11 per order
- ₹0 account opening
- Fixed MTF rate
- SME IPOs
Worth checking
- Brokerage on delivery
₹11 per order on delivery, where some brokers charge ₹0.
- AMC from the start
₹25 plus GST a month (₹300 plus GST a year); the pricing page does not mention a free first year.
ProStocks
Strengths
- ₹0 delivery brokerage
- No AMC
- Cheap dealer orders
Worth checking
- Refundable deposit
₹1,000 demat deposit.
- IPO access not stated
The pricing page does not mention IPO applications.
Brokerage calculator: Indiabulls Securities vs ProStocks
| Charge | Indiabulls Securities | ProStocks |
|---|
Ours, with NSE rates. Change the trade to see what Indiabulls Securities and ProStocks would each charge.
Other comparisons
Every comparison with Indiabulls Securities or ProStocks, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Indiabulls Securities or ProStocks?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹23.60 in broker charges at ProStocks and ₹36.58 at Indiabulls Securities (our calculation). For two SME lots worth ₹2,50,000: Indiabulls Securities ₹71.98, ProStocks ₹23.60 (our calculation, brokerage and DP charge with GST).
How much would the difference between Indiabulls Securities and ProStocks be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, ProStocks costs ₹155.76 less in broker charges (our calculation). Add the yearly AMC: Indiabulls Securities: ₹25 plus GST a month on the pricing page; ProStocks: None.
Can I apply for SME IPOs on Indiabulls Securities and ProStocks?
Indiabulls Securities lets you apply for SME IPOs; ProStocks does not say so on the pages we checked.
Is account opening free at Indiabulls Securities and ProStocks?
Indiabulls Securities: ₹0. ProStocks: No fee listed.
What is the demat AMC at Indiabulls Securities and ProStocks?
Indiabulls Securities: ₹25 plus GST a month on the pricing page. ProStocks: None.