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
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 Kotak Securities (Kotak Neo) and Mirae Asset Sharekhan differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Kotak Securities (Kotak Neo) | Mirae Asset Sharekhan |
|---|---|---|
| One mainboard lot, ₹15,000Brokerage ₹17.70 less at Kotak Securities (Kotak Neo); a DP charge is not published | ₹35.40 brokerage; DP charge not published | ₹53.10 |
| Two SME lots, ₹2,50,000Brokerage ₹295.00 less at Kotak Securities (Kotak Neo); a DP charge is not published | ₹590.00 brokerage; DP charge not published | ₹885.00 |
| A year: 12 mainboard lots soldBrokerage ₹212.40 less at Kotak Securities (Kotak Neo); a DP charge is not published | ₹424.80 brokerage; DP charge not published | ₹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 for a basic services demat account at Kotak Securities (Kotak Neo), ₹400 a year, free for the first year at Mirae Asset Sharekhan.
- Equity delivery brokerage: 0.20% at Kotak Securities (Kotak Neo), 0.30% of trade value at Mirae Asset Sharekhan.
- DP charge on selling shares: not stated at Kotak Securities (Kotak Neo), Nil when sold through Mirae Asset Sharekhan at Mirae Asset Sharekhan.
- SME IPOs: Yes. Kotak Neo says SME IPOs can be applied for in its current IPO… at Kotak Securities (Kotak Neo), not stated at Mirae Asset Sharekhan.
The same at both: account opening and Mainboard IPOs.
Kotak Securities (Kotak Neo) vs Mirae Asset Sharekhan: charges side by side
Differs 5 of 7 charges differ between Kotak Securities (Kotak Neo) and Mirae Asset Sharekhan. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Kotak Securities (Kotak Neo) | Mirae Asset Sharekhan |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 on the Trade Free plan (₹99 one time on Trade Free Youth, for under 30s) | ₹0 |
| 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 | ₹400 a year, free for the first year |
| 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) | 0.30% of trade value (minimum 1 paisa a share) |
| DP charge on selling shares | Not stated on the pages we checked | Nil when sold through Mirae Asset Sharekhan |
| Registration | ||
| SEBI registration | INZ000200137 | 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 Kotak Securities (Kotak Neo) and Mirae Asset Sharekhan pages.
Kotak Securities (Kotak Neo) and Mirae Asset Sharekhan 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.
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: Kotak Securities (Kotak Neo) vs Mirae Asset Sharekhan
Other comparisons
Every comparison with Kotak Securities (Kotak Neo) or Mirae Asset Sharekhan, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Kotak Securities (Kotak Neo) or Mirae Asset Sharekhan?
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 Kotak Securities (Kotak Neo) (our calculation). For two SME lots worth ₹2,50,000: Kotak Securities (Kotak Neo) ₹590.00 brokerage; DP charge not published, Mirae Asset Sharekhan ₹885.00 (our calculation, brokerage and DP charge with GST).
How much would the difference between Kotak Securities (Kotak Neo) and Mirae Asset Sharekhan 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 Kotak Securities (Kotak Neo) (our calculation).
Can I apply for SME IPOs on Kotak Securities (Kotak Neo) and Mirae Asset Sharekhan?
Kotak Securities (Kotak Neo) lets you apply for SME IPOs; Mirae Asset Sharekhan does not say so on the pages we checked.
What is the demat AMC at Kotak Securities (Kotak Neo) and Mirae Asset Sharekhan?
Kotak Securities (Kotak Neo): ₹0 for a basic services demat account. Mirae Asset Sharekhan: ₹400 a year, free for the first year.
What brokerage do Kotak Securities (Kotak Neo) 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 ₹35.40 at Kotak Securities (Kotak Neo) and ₹53.10 at Mirae Asset Sharekhan (our calculation from their published rates).