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
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 INDmoney and ProStocks differ
7 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | INDmoney | ProStocks |
|---|---|---|
| One mainboard lot, ₹15,000₹15.93 less at ProStocks | ₹39.53 | ₹23.60 |
| Two SME lots, ₹2,50,000₹21.83 less at ProStocks | ₹45.43 | ₹23.60 |
| A year: 12 mainboard lots sold₹191.16 less at ProStocks | ₹474.36 | ₹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 INDmoney, No fee listed at ProStocks.
- Demat maintenance (AMC): ₹0 at INDmoney, None at ProStocks.
- Equity delivery brokerage: 0.1% or ₹20 per executed order, whichever is lower, minimum ₹2 at INDmoney, ₹0 at ProStocks.
- DP charge on selling shares: ₹18.50 plus GST per ISIN at INDmoney, ₹20 per scrip plus 18% GST at ProStocks.
- Mainboard IPOs: Yes at INDmoney, not stated at ProStocks.
- SME IPOs: Not yet. INDmoney says it does not currently support SME IPOs at INDmoney, not stated at ProStocks.
INDmoney vs ProStocks: charges side by side
Differs 7 of 7 charges differ between INDmoney and ProStocks. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | INDmoney | ProStocks |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | No fee listed (online application) |
| Demat maintenance (AMC) | ₹0 | None; ₹1,000 refundable demat deposit |
| Apply for IPOs | ||
| Mainboard IPOs | Yes | Not stated on the pages we checked |
| SME IPOs | Not yet. INDmoney says it does not currently support SME IPOs | Not stated on the pages we checked |
| Sell your IPO shares | ||
| Equity delivery brokerage | 0.1% or ₹20 per executed order, whichever is lower, minimum ₹2 | ₹0 (flat fee plan) |
| DP charge on selling shares | ₹18.50 plus GST per ISIN (₹3.50 CDSL and ₹15 INDstocks; ₹3.25 and ₹15.25 for women) | ₹20 per scrip plus 18% GST |
| Registration | ||
| SEBI registration | INZ000305337 | INZ000048660 |
For other trading, equity intraday, Futures and Call and trade differ too. Intraday, futures, call and trade and margin charges are on the INDmoney and ProStocks pages.
INDmoney and ProStocks 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.
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: INDmoney vs ProStocks
| Charge | INDmoney | ProStocks |
|---|
Ours, with NSE rates. Change the trade to see what INDmoney and ProStocks would each charge.
Other comparisons
Every comparison with INDmoney or ProStocks, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, INDmoney or ProStocks?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹23.60 in broker charges at ProStocks and ₹39.53 at INDmoney (our calculation). For two SME lots worth ₹2,50,000: INDmoney ₹45.43, ProStocks ₹23.60 (our calculation, brokerage and DP charge with GST).
How much would the difference between INDmoney and ProStocks be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, ProStocks costs ₹191.16 less in broker charges (our calculation). Add the yearly AMC: INDmoney: ₹0; ProStocks: None.
Can I apply for SME IPOs on INDmoney and ProStocks?
Neither says clearly on its pages that SME IPOs can be applied for.
Is account opening free at INDmoney and ProStocks?
INDmoney: ₹0. ProStocks: No fee listed.
What is the demat AMC at INDmoney and ProStocks?
INDmoney: ₹0. ProStocks: None.