m.StockSEBI INZ000163138
- Account opening
- ₹0
- Demat AMC
- ₹0
- SME IPOs
- Not stated
- Delivery brokerage
- ₹10/order
- Cost to sell ₹15,000 of IPO shares
- ₹33.04Brokerage and DP with GST, ours
ZerodhaSEBI INZ000031633
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹300/yr + GST
- SME IPOs
- Yes
- Delivery brokerage
- ₹0
- Cost to sell ₹15,000 of IPO shares
- ₹15.34Brokerage and DP with GST, ours
Where m.Stock and Zerodha differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | m.Stock | Zerodha |
|---|---|---|
| One mainboard lot, ₹15,000₹17.70 less at Zerodha | ₹33.04 | ₹15.34 |
| Two SME lots, ₹2,50,000₹17.70 less at Zerodha | ₹33.04 | ₹15.34 |
| A year: 12 mainboard lots sold₹212.40 less at Zerodha | ₹396.48 | ₹184.08 |
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 m.Stock, Free in the first year for resident individuals, then ₹300 a year plus… at Zerodha.
- Equity delivery brokerage: ₹10 per order at m.Stock, ₹0 at Zerodha.
- DP charge on selling shares: ₹18 plus GST per debit transaction at m.Stock, ₹13 plus GST per scrip at Zerodha.
- SME IPOs: not stated at m.Stock, Yes, NSE and BSE SME IPOs through UPI. Only one bid per SME IPO, and… at Zerodha.
The same at both: account opening and Mainboard IPOs.
m.Stock vs Zerodha: charges side by side
Differs 5 of 7 charges differ between m.Stock and Zerodha. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | m.Stock | Zerodha |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | ₹0 for individual accounts (₹500 for NRI, partnership, LLP and corporate accounts) |
| Demat maintenance (AMC) | ₹0 | Free in the first year for resident individuals, then ₹300 a year plus GST, charged quarterly |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, with a two-click application | Yes, through Kite or Console with a UPI mandate |
| SME IPOs | Not stated on the pages we checked | Yes, NSE and BSE SME IPOs through UPI. Only one bid per SME IPO, and no net banking fallback if the UPI payment fails |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹10 per order | ₹0 |
| DP charge on selling shares | ₹18 plus GST per debit transaction | ₹13 plus GST per scrip (₹3.50 CDSL, ₹9.50 Zerodha); ₹15.34 with GST |
| Registration | ||
| SEBI registration | INZ000163138 | INZ000031633 |
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 m.Stock and Zerodha pages.
m.Stock and Zerodha strengths and things worth checking
m.Stock
Strengths
- ₹10 per order
- ₹0 AMC
- Free call and trade
Worth checking
- System square-off is costly
₹100 plus GST per order if m.Stock squares off your intraday position.
- DP charge
₹18 plus GST per sale.
Zerodha
Strengths
- ₹0 brokerage on delivery
- Lower DP charge
- SME IPOs on both exchanges
Worth checking
- AMC after the first year
₹300 a year plus GST for a regular demat account.
- SME IPO limits
One bid per SME IPO, and if the UPI payment fails you cannot apply by net banking.
- Dealer orders cost extra
₹50 per order through call and trade or auto square-off.
Brokerage calculator: m.Stock vs Zerodha
| Charge | m.Stock | Zerodha |
|---|
Ours, with NSE rates. Change the trade to see what m.Stock and Zerodha would each charge.
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Every comparison with m.Stock or Zerodha, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, m.Stock or Zerodha?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹15.34 in broker charges at Zerodha and ₹33.04 at m.Stock (our calculation). For two SME lots worth ₹2,50,000: m.Stock ₹33.04, Zerodha ₹15.34 (our calculation, brokerage and DP charge with GST).
How much would the difference between m.Stock and Zerodha be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Zerodha costs ₹212.40 less in broker charges (our calculation). Add the yearly AMC: m.Stock: ₹0; Zerodha: Free in the first year for resident individuals, then ₹300 a year plus….
Can I apply for SME IPOs on m.Stock and Zerodha?
Zerodha lets you apply for SME IPOs; m.Stock does not say so on the pages we checked.
What is the demat AMC at m.Stock and Zerodha?
m.Stock: ₹0. Zerodha: Free in the first year for resident individuals, then ₹300 a year plus….
What brokerage do m.Stock and Zerodha charge when I sell IPO shares?
Selling allotted shares is a delivery trade. On a ₹15,000 sale the brokerage with GST is ₹11.80 at m.Stock and ₹0.00 at Zerodha (our calculation from their published rates).