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
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 INDmoney and Kotak Securities (Kotak Neo) differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | INDmoney | Kotak Securities (Kotak Neo) |
|---|---|---|
| One mainboard lot, ₹15,000Brokerage ₹17.70 less at INDmoney; a DP charge is not published | ₹39.53 | ₹35.40 brokerage; DP charge not published |
| Two SME lots, ₹2,50,000Brokerage ₹566.40 less at INDmoney; a DP charge is not published | ₹45.43 | ₹590.00 brokerage; DP charge not published |
| A year: 12 mainboard lots soldBrokerage ₹212.40 less at INDmoney; a DP charge is not published | ₹474.36 | ₹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.
- Demat maintenance (AMC): ₹0 at INDmoney, ₹0 for a basic services demat account at Kotak Securities (Kotak Neo).
- Equity delivery brokerage: 0.1% or ₹20 per executed order, whichever is lower, minimum ₹2 at INDmoney, 0.20% at Kotak Securities (Kotak Neo).
- DP charge on selling shares: ₹18.50 plus GST per ISIN at INDmoney, not stated at Kotak Securities (Kotak Neo).
- SME IPOs: Not yet. INDmoney says it does not currently support SME IPOs at INDmoney, Yes. Kotak Neo says SME IPOs can be applied for in its current IPO… at Kotak Securities (Kotak Neo).
The same at both: account opening and Mainboard IPOs.
INDmoney vs Kotak Securities (Kotak Neo): charges side by side
Differs 5 of 7 charges differ between INDmoney and Kotak Securities (Kotak Neo). Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | INDmoney | Kotak Securities (Kotak Neo) |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | ₹0 on the Trade Free plan (₹99 one time on Trade Free Youth, for under 30s) |
| Demat maintenance (AMC) | ₹0 | ₹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 | Yes, on Kotak Neo with UPI |
| SME IPOs | Not yet. INDmoney says it does not currently support SME IPOs | Yes. Kotak Neo says SME IPOs can be applied for in its current IPO section with UPI |
| Sell your IPO shares | ||
| Equity delivery brokerage | 0.1% or ₹20 per executed order, whichever is lower, minimum ₹2 | 0.20% (Trade Free Pro: 0.10%; Trade Free Youth: ₹0) |
| DP charge on selling shares | ₹18.50 plus GST per ISIN (₹3.50 CDSL and ₹15 INDstocks; ₹3.25 and ₹15.25 for women) | Not stated on the pages we checked |
| Registration | ||
| SEBI registration | INZ000305337 | INZ000200137 |
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 INDmoney and Kotak Securities (Kotak Neo) pages.
INDmoney and Kotak Securities (Kotak Neo) strengths and things worth checking
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.
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: INDmoney vs Kotak Securities (Kotak Neo)
| Charge | INDmoney | Kotak Securities (Kotak Neo) |
|---|
Ours, with NSE rates. Change the trade to see what INDmoney and Kotak Securities (Kotak Neo) would each charge.
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Every comparison with INDmoney or Kotak Securities (Kotak Neo), or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, INDmoney or Kotak Securities (Kotak Neo)?
Kotak Securities (Kotak Neo) 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 ₹17.70 less at INDmoney (our calculation). For two SME lots worth ₹2,50,000: INDmoney ₹45.43, 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 INDmoney and Kotak Securities (Kotak Neo) be over a year?
Not in full, because Kotak Securities (Kotak Neo) does not publish its DP charge. On brokerage alone, 12 mainboard lots of ₹15,000 cost ₹212.40 less at INDmoney (our calculation).
Can I apply for SME IPOs on INDmoney and Kotak Securities (Kotak Neo)?
Kotak Securities (Kotak Neo) lets you apply for SME IPOs; INDmoney does not support them yet.
What is the demat AMC at INDmoney and Kotak Securities (Kotak Neo)?
INDmoney: ₹0. Kotak Securities (Kotak Neo): ₹0 for a basic services demat account.
What brokerage do INDmoney and Kotak Securities (Kotak Neo) charge when I sell IPO shares?
Selling allotted shares is a delivery trade. On a ₹15,000 sale the brokerage with GST is ₹17.70 at INDmoney and ₹35.40 at Kotak Securities (Kotak Neo) (our calculation from their published rates).