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
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 PhonePe Invest (Share.Market) and Zerodha differ
6 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | PhonePe Invest (Share.Market) | Zerodha |
|---|---|---|
| One mainboard lot, ₹15,000Brokerage ₹8.85 less at Zerodha; a DP charge is not published | ₹8.85 brokerage; DP charge not published | ₹15.34 |
| Two SME lots, ₹2,50,000Brokerage ₹23.60 less at Zerodha; a DP charge is not published | ₹23.60 brokerage; DP charge not published | ₹15.34 |
| A year: 12 mainboard lots soldBrokerage ₹106.20 less at Zerodha; a DP charge is not published | ₹106.20 brokerage; DP charge not published | ₹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.
- Account opening: not stated at PhonePe Invest (Share.Market), ₹0 for individual accounts at Zerodha.
- Demat maintenance (AMC): not stated at PhonePe Invest (Share.Market), Free in the first year for resident individuals, then ₹300 a year plus… at Zerodha.
- Equity delivery brokerage: ₹20 or 0.05% per executed order, whichever is lower at PhonePe Invest (Share.Market), ₹0 at Zerodha.
- DP charge on selling shares: not stated at PhonePe Invest (Share.Market), ₹13 plus GST per scrip at Zerodha.
- SME IPOs: not stated at PhonePe Invest (Share.Market), Yes, NSE and BSE SME IPOs through UPI. Only one bid per SME IPO, and… at Zerodha.
The same at both: mainboard IPOs.
PhonePe Invest (Share.Market) vs Zerodha: charges side by side
Differs 6 of 7 charges differ between PhonePe Invest (Share.Market) and Zerodha. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | PhonePe Invest (Share.Market) | Zerodha |
|---|---|---|
| Open an account | ||
| Account opening | Not stated on the pages we checked | ₹0 for individual accounts (₹500 for NRI, partnership, LLP and corporate accounts) |
| Demat maintenance (AMC) | Not stated on the pages we checked | Free in the first year for resident individuals, then ₹300 a year plus GST, charged quarterly |
| Apply for IPOs | ||
| Mainboard IPOs | Yes | 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 | ₹20 or 0.05% per executed order, whichever is lower | ₹0 |
| DP charge on selling shares | Not stated on the pages we checked | ₹13 plus GST per scrip (₹3.50 CDSL, ₹9.50 Zerodha); ₹15.34 with GST |
| Registration | ||
| SEBI registration | INZ000302639 | 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 PhonePe Invest (Share.Market) and Zerodha pages.
PhonePe Invest (Share.Market) and Zerodha 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.
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: PhonePe Invest (Share.Market) vs Zerodha
| Charge | PhonePe Invest (Share.Market) | Zerodha |
|---|
Ours, with NSE rates. Change the trade to see what PhonePe Invest (Share.Market) and Zerodha would each charge.
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Every comparison with PhonePe Invest (Share.Market) or Zerodha, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, PhonePe Invest (Share.Market) or Zerodha?
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 ₹8.85 less at Zerodha (our calculation). For two SME lots worth ₹2,50,000: PhonePe Invest (Share.Market) ₹23.60 brokerage; DP charge not published, Zerodha ₹15.34 (our calculation, brokerage and DP charge with GST).
How much would the difference between PhonePe Invest (Share.Market) and Zerodha 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 ₹106.20 less at Zerodha (our calculation).
Can I apply for SME IPOs on PhonePe Invest (Share.Market) and Zerodha?
Zerodha 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 Zerodha?
PhonePe Invest (Share.Market): not stated. Zerodha: ₹0 for individual accounts.
What is the demat AMC at PhonePe Invest (Share.Market) and Zerodha?
PhonePe Invest (Share.Market): not stated. Zerodha: Free in the first year for resident individuals, then ₹300 a year plus….