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
Mirae Asset SharekhanSEBI INZ000171337
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹400/yr
- SME IPOs
- Not stated
- Delivery brokerage
- 0.30%
- Cost to sell ₹15,000 of IPO shares
- ₹53.10Brokerage and DP with GST, ours
Where INDmoney and Mirae Asset Sharekhan differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | INDmoney | Mirae Asset Sharekhan |
|---|---|---|
| One mainboard lot, ₹15,000₹13.57 less at INDmoney | ₹39.53 | ₹53.10 |
| Two SME lots, ₹2,50,000₹839.57 less at INDmoney | ₹45.43 | ₹885.00 |
| A year: 12 mainboard lots sold₹162.84 less at INDmoney | ₹474.36 | ₹637.20 |
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.
- Demat maintenance (AMC): ₹0 at INDmoney, ₹400 a year, free for the first year at Mirae Asset Sharekhan.
- Equity delivery brokerage: 0.1% or ₹20 per executed order, whichever is lower, minimum ₹2 at INDmoney, 0.30% of trade value at Mirae Asset Sharekhan.
- DP charge on selling shares: ₹18.50 plus GST per ISIN at INDmoney, Nil when sold through Mirae Asset Sharekhan at Mirae Asset Sharekhan.
- SME IPOs: Not yet. INDmoney says it does not currently support SME IPOs at INDmoney, not stated at Mirae Asset Sharekhan.
The same at both: account opening and Mainboard IPOs.
INDmoney vs Mirae Asset Sharekhan: charges side by side
Differs 5 of 7 charges differ between INDmoney and Mirae Asset Sharekhan. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | INDmoney | Mirae Asset Sharekhan |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | ₹0 |
| Demat maintenance (AMC) | ₹0 | ₹400 a year, free for the first year |
| Apply for IPOs | ||
| Mainboard IPOs | Yes | Yes |
| 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 | 0.30% of trade value (minimum 1 paisa a share) |
| DP charge on selling shares | ₹18.50 plus GST per ISIN (₹3.50 CDSL and ₹15 INDstocks; ₹3.25 and ₹15.25 for women) | Nil when sold through Mirae Asset Sharekhan |
| Registration | ||
| SEBI registration | INZ000305337 | INZ000171337 |
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 Mirae Asset Sharekhan pages.
INDmoney and Mirae Asset Sharekhan 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.
Mirae Asset Sharekhan
Strengths
- No DP charge on sales
- Free call and trade
- Research and branches
Worth checking
- Percentage brokerage on delivery
0.30% with no cap: ₹45 on a ₹15,000 sale.
- Options per lot
₹39 per lot each side.
- MTF at 18%
Margin trading interest is 18% a year.
Brokerage calculator: INDmoney vs Mirae Asset Sharekhan
Other comparisons
Every comparison with INDmoney or Mirae Asset Sharekhan, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, INDmoney or Mirae Asset Sharekhan?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹39.53 in broker charges at INDmoney and ₹53.10 at Mirae Asset Sharekhan (our calculation). For two SME lots worth ₹2,50,000: INDmoney ₹45.43, Mirae Asset Sharekhan ₹885.00 (our calculation, brokerage and DP charge with GST).
How much would the difference between INDmoney and Mirae Asset Sharekhan be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, INDmoney costs ₹162.84 less in broker charges (our calculation). Add the yearly AMC: INDmoney: ₹0; Mirae Asset Sharekhan: ₹400 a year, free for the first year.
Can I apply for SME IPOs on INDmoney and Mirae Asset Sharekhan?
Neither says clearly on its pages that SME IPOs can be applied for.
What is the demat AMC at INDmoney and Mirae Asset Sharekhan?
INDmoney: ₹0. Mirae Asset Sharekhan: ₹400 a year, free for the first year.
What brokerage do INDmoney and Mirae Asset Sharekhan 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 ₹53.10 at Mirae Asset Sharekhan (our calculation from their published rates).