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
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 Kotak Securities (Kotak Neo) and PhonePe Invest (Share.Market) differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Kotak Securities (Kotak Neo) | PhonePe Invest (Share.Market) |
|---|---|---|
| One mainboard lot, ₹15,000Brokerage ₹26.55 less at PhonePe Invest (Share.Market); a DP charge is not published | ₹35.40 brokerage; DP charge not published | ₹8.85 brokerage; DP charge not published |
| Two SME lots, ₹2,50,000Brokerage ₹566.40 less at PhonePe Invest (Share.Market); a DP charge is not published | ₹590.00 brokerage; DP charge not published | ₹23.60 brokerage; DP charge not published |
| A year: 12 mainboard lots soldBrokerage ₹318.60 less at PhonePe Invest (Share.Market); a DP charge is not published | ₹424.80 brokerage; DP charge not published | ₹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 on the Trade Free plan at Kotak Securities (Kotak Neo), not stated at PhonePe Invest (Share.Market).
- Demat maintenance (AMC): ₹0 for a basic services demat account at Kotak Securities (Kotak Neo), not stated at PhonePe Invest (Share.Market).
- Equity delivery brokerage: 0.20% at Kotak Securities (Kotak Neo), ₹20 or 0.05% per executed order, whichever is lower at PhonePe Invest (Share.Market).
- SME IPOs: Yes. Kotak Neo says SME IPOs can be applied for in its current IPO… at Kotak Securities (Kotak Neo), not stated at PhonePe Invest (Share.Market).
The same at both: dP charge on selling shares and Mainboard IPOs.
Kotak Securities (Kotak Neo) vs PhonePe Invest (Share.Market): charges side by side
Differs 5 of 7 charges differ between Kotak Securities (Kotak Neo) and PhonePe Invest (Share.Market). Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Kotak Securities (Kotak Neo) | PhonePe Invest (Share.Market) |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 on the Trade Free plan (₹99 one time on Trade Free Youth, for under 30s) | Not stated on the pages we checked |
| Demat maintenance (AMC) | ₹0 for a basic services demat account (BSDA) with holdings up to ₹4 lakh; other AMC not stated on the pricing page | Not stated on the pages we checked |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, on Kotak Neo with UPI | Yes |
| SME IPOs | Yes. Kotak Neo says SME IPOs can be applied for in its current IPO section with UPI | Not stated on the pages we checked |
| Sell your IPO shares | ||
| Equity delivery brokerage | 0.20% (Trade Free Pro: 0.10%; Trade Free Youth: ₹0) | ₹20 or 0.05% per executed order, whichever is lower |
| DP charge on selling shares | Not stated on the pages we checked | Not stated on the pages we checked |
| Registration | ||
| SEBI registration | INZ000200137 | INZ000302639 |
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 Kotak Securities (Kotak Neo) and PhonePe Invest (Share.Market) pages.
Kotak Securities (Kotak Neo) and PhonePe Invest (Share.Market) strengths and things worth checking
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.
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: Kotak Securities (Kotak Neo) vs PhonePe Invest (Share.Market)
| Charge | Kotak Securities (Kotak Neo) | PhonePe Invest (Share.Market) |
|---|
Ours, with NSE rates. Change the trade to see what Kotak Securities (Kotak Neo) and PhonePe Invest (Share.Market) would each charge.
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Every comparison with Kotak Securities (Kotak Neo) or PhonePe Invest (Share.Market), or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Kotak Securities (Kotak Neo) or PhonePe Invest (Share.Market)?
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 ₹26.55 less at PhonePe Invest (Share.Market) (our calculation). For two SME lots worth ₹2,50,000: Kotak Securities (Kotak Neo) ₹590.00 brokerage; DP charge not published, 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 Kotak Securities (Kotak Neo) and PhonePe Invest (Share.Market) 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 ₹318.60 less at PhonePe Invest (Share.Market) (our calculation).
Can I apply for SME IPOs on Kotak Securities (Kotak Neo) and PhonePe Invest (Share.Market)?
Kotak Securities (Kotak Neo) lets you apply for SME IPOs; PhonePe Invest (Share.Market) does not say so on the pages we checked.
Is account opening free at Kotak Securities (Kotak Neo) and PhonePe Invest (Share.Market)?
Kotak Securities (Kotak Neo): ₹0 on the Trade Free plan. PhonePe Invest (Share.Market): not stated.
What is the demat AMC at Kotak Securities (Kotak Neo) and PhonePe Invest (Share.Market)?
Kotak Securities (Kotak Neo): ₹0 for a basic services demat account. PhonePe Invest (Share.Market): not stated.