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
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 PhonePe Invest (Share.Market) and Upstox differ
6 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | PhonePe Invest (Share.Market) | Upstox |
|---|---|---|
| One mainboard lot, ₹15,000Brokerage ₹14.75 less at PhonePe Invest (Share.Market); a DP charge is not published | ₹8.85 brokerage; DP charge not published | ₹47.20 |
| Two SME lots, ₹2,50,000Same brokerage at both; a DP charge is not published | ₹23.60 brokerage; DP charge not published | ₹47.20 |
| A year: 12 mainboard lots soldBrokerage ₹177.00 less at PhonePe Invest (Share.Market); a DP charge is not published | ₹106.20 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.
- Account opening: not stated at PhonePe Invest (Share.Market), ₹0 at Upstox.
- Demat maintenance (AMC): not stated at PhonePe Invest (Share.Market), ₹0 in the first year for new customers, then ₹300 plus GST a year at Upstox.
- Equity delivery brokerage: ₹20 or 0.05% per executed order, whichever is lower at PhonePe Invest (Share.Market), ₹20 per executed order at Upstox.
- DP charge on selling shares: not stated at PhonePe Invest (Share.Market), ₹20 plus GST per scrip per day at Upstox.
- SME IPOs: not stated at PhonePe Invest (Share.Market), Yes, using the SME IPO filter in the IPO section. SME bids need a… at Upstox.
The same at both: mainboard IPOs.
PhonePe Invest (Share.Market) vs Upstox: charges side by side
Differs 6 of 7 charges differ between PhonePe Invest (Share.Market) and Upstox. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | PhonePe Invest (Share.Market) | Upstox |
|---|---|---|
| Open an account | ||
| Account opening | Not stated on the pages we checked | ₹0 |
| Demat maintenance (AMC) | Not stated on the pages we checked | ₹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 | Yes, in the IPO section of the app with a UPI mandate |
| SME IPOs | Not stated on the pages we checked | 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 | ₹20 or 0.05% per executed order, whichever is lower | ₹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 | INZ000302639 | 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 PhonePe Invest (Share.Market) and Upstox pages.
PhonePe Invest (Share.Market) and Upstox strengths and things worth checking
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.
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: PhonePe Invest (Share.Market) vs Upstox
| Charge | PhonePe Invest (Share.Market) | Upstox |
|---|
Ours, with NSE rates. Change the trade to see what PhonePe Invest (Share.Market) and Upstox would each charge.
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Every comparison with PhonePe Invest (Share.Market) or Upstox, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, PhonePe Invest (Share.Market) or Upstox?
PhonePe Invest (Share.Market) 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 ₹14.75 less at PhonePe Invest (Share.Market) (our calculation). For two SME lots worth ₹2,50,000: PhonePe Invest (Share.Market) ₹23.60 brokerage; DP charge not published, Upstox ₹47.20 (our calculation, brokerage and DP charge with GST).
How much would the difference between PhonePe Invest (Share.Market) and Upstox be over a year?
Not in full, because PhonePe Invest (Share.Market) does not publish its DP charge. On brokerage alone, 12 mainboard lots of ₹15,000 cost ₹177.00 less at PhonePe Invest (Share.Market) (our calculation).
Can I apply for SME IPOs on PhonePe Invest (Share.Market) and Upstox?
Upstox lets you apply for SME IPOs; PhonePe Invest (Share.Market) does not say so on the pages we checked.
Is account opening free at PhonePe Invest (Share.Market) and Upstox?
PhonePe Invest (Share.Market): not stated. Upstox: ₹0.
What is the demat AMC at PhonePe Invest (Share.Market) and Upstox?
PhonePe Invest (Share.Market): not stated. Upstox: ₹0 in the first year for new customers, then ₹300 plus GST a year.