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
UpstoxSEBI INZ000315837
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹300/yr + GST
- SME IPOs
- Yes
- Delivery brokerage
- ₹20/order
- Cost to sell ₹15,000 of IPO shares
- ₹47.20Brokerage and DP with GST, ours
Where Kotak Securities (Kotak Neo) and Upstox differ
4 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Kotak Securities (Kotak Neo) | Upstox |
|---|---|---|
| One mainboard lot, ₹15,000Brokerage ₹11.80 less at Upstox; a DP charge is not published | ₹35.40 brokerage; DP charge not published | ₹47.20 |
| Two SME lots, ₹2,50,000Brokerage ₹566.40 less at Upstox; a DP charge is not published | ₹590.00 brokerage; DP charge not published | ₹47.20 |
| A year: 12 mainboard lots soldBrokerage ₹141.60 less at Upstox; a DP charge is not published | ₹424.80 brokerage; DP charge not published | ₹566.40 |
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), ₹0 in the first year for new customers, then ₹300 plus GST a year at Upstox.
- Equity delivery brokerage: 0.20% at Kotak Securities (Kotak Neo), ₹20 per executed order at Upstox.
- DP charge on selling shares: not stated at Kotak Securities (Kotak Neo), ₹20 plus GST per scrip per day at Upstox.
The same at both: account opening, Mainboard IPOs and SME IPOs.
Kotak Securities (Kotak Neo) vs Upstox: charges side by side
Differs 4 of 7 charges differ between Kotak Securities (Kotak Neo) and Upstox. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Kotak Securities (Kotak Neo) | Upstox |
|---|---|---|
| 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 | ₹0 in the first year for new customers, then ₹300 plus GST a year (BSDA accounts have separate terms) |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, on Kotak Neo with UPI | Yes, in the IPO section of the app with a UPI mandate |
| SME IPOs | Yes. Kotak Neo says SME IPOs can be applied for in its current IPO section with UPI | Yes, using the SME IPO filter in the IPO section. SME bids need a price; cut-off is not allowed |
| Sell your IPO shares | ||
| Equity delivery brokerage | 0.20% (Trade Free Pro: 0.10%; Trade Free Youth: ₹0) | ₹20 per executed order |
| DP charge on selling shares | Not stated on the pages we checked | ₹20 plus GST per scrip per day (₹3.50 CDSL and ₹16.50 Upstox; ₹3.25 and ₹16.75 for women) |
| Registration | ||
| SEBI registration | INZ000200137 | INZ000315837 |
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 Upstox pages.
Kotak Securities (Kotak Neo) and Upstox 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.
Upstox
Strengths
- Zero commission on IPOs
- ₹0 account opening
- SME IPOs in the app
Worth checking
- Flat ₹20 on delivery
Even a small sale of IPO shares costs ₹20 brokerage plus a ₹20 plus GST DP charge.
- Dealer orders cost more
Call and trade and auto square-off cost ₹75 plus GST each.
- AMC after the first year
₹300 plus GST a year.
Brokerage calculator: Kotak Securities (Kotak Neo) vs Upstox
| Charge | Kotak Securities (Kotak Neo) | Upstox |
|---|
Ours, with NSE rates. Change the trade to see what Kotak Securities (Kotak Neo) and Upstox would each charge.
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Every comparison with Kotak Securities (Kotak Neo) or Upstox, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Kotak Securities (Kotak Neo) or Upstox?
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 ₹11.80 less at Upstox (our calculation). For two SME lots worth ₹2,50,000: Kotak Securities (Kotak Neo) ₹590.00 brokerage; DP charge not published, Upstox ₹47.20 (our calculation, brokerage and DP charge with GST).
How much would the difference between Kotak Securities (Kotak Neo) and Upstox 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 ₹141.60 less at Upstox (our calculation).
Can I apply for SME IPOs on Kotak Securities (Kotak Neo) and Upstox?
Both let you apply for SME IPOs.
What is the demat AMC at Kotak Securities (Kotak Neo) and Upstox?
Kotak Securities (Kotak Neo): ₹0 for a basic services demat account. Upstox: ₹0 in the first year for new customers, then ₹300 plus GST a year.
What brokerage do Kotak Securities (Kotak Neo) and Upstox 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 ₹23.60 at Upstox (our calculation from their published rates).