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
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
Where Mirae Asset Sharekhan and PhonePe Invest (Share.Market) differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Mirae Asset Sharekhan | PhonePe Invest (Share.Market) |
|---|---|---|
| One mainboard lot, ₹15,000Brokerage ₹44.25 less at PhonePe Invest (Share.Market); a DP charge is not published | ₹53.10 | ₹8.85 brokerage; DP charge not published |
| Two SME lots, ₹2,50,000Brokerage ₹861.40 less at PhonePe Invest (Share.Market); a DP charge is not published | ₹885.00 | ₹23.60 brokerage; DP charge not published |
| A year: 12 mainboard lots soldBrokerage ₹531.00 less at PhonePe Invest (Share.Market); a DP charge is not published | ₹637.20 | ₹106.20 brokerage; DP charge not published |
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: ₹0 at Mirae Asset Sharekhan, not stated at PhonePe Invest (Share.Market).
- Demat maintenance (AMC): ₹400 a year, free for the first year at Mirae Asset Sharekhan, not stated at PhonePe Invest (Share.Market).
- Equity delivery brokerage: 0.30% of trade value at Mirae Asset Sharekhan, ₹20 or 0.05% per executed order, whichever is lower at PhonePe Invest (Share.Market).
- DP charge on selling shares: Nil when sold through Mirae Asset Sharekhan at Mirae Asset Sharekhan, not stated at PhonePe Invest (Share.Market).
The same at both: mainboard IPOs and SME IPOs.
Mirae Asset Sharekhan vs PhonePe Invest (Share.Market): charges side by side
Differs 5 of 7 charges differ between Mirae Asset Sharekhan and PhonePe Invest (Share.Market). Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Mirae Asset Sharekhan | PhonePe Invest (Share.Market) |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | Not stated on the pages we checked |
| Demat maintenance (AMC) | ₹400 a year, free for the first year | Not stated on the pages we checked |
| Apply for IPOs | ||
| Mainboard IPOs | Yes | Yes |
| SME IPOs | Not stated on the pages we checked | Not stated on the pages we checked |
| Sell your IPO shares | ||
| Equity delivery brokerage | 0.30% of trade value (minimum 1 paisa a share) | ₹20 or 0.05% per executed order, whichever is lower |
| DP charge on selling shares | Nil when sold through Mirae Asset Sharekhan | Not stated on the pages we checked |
| Registration | ||
| SEBI registration | INZ000171337 | INZ000302639 |
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 Mirae Asset Sharekhan and PhonePe Invest (Share.Market) pages.
Mirae Asset Sharekhan and PhonePe Invest (Share.Market) strengths and things worth checking
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.
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.
Brokerage calculator: Mirae Asset Sharekhan vs PhonePe Invest (Share.Market)
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Frequently asked questions
Which is cheaper for selling IPO shares, Mirae Asset Sharekhan or PhonePe Invest (Share.Market)?
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 ₹44.25 less at PhonePe Invest (Share.Market) (our calculation). For two SME lots worth ₹2,50,000: Mirae Asset Sharekhan ₹885.00, PhonePe Invest (Share.Market) ₹23.60 brokerage; DP charge not published (our calculation, brokerage and DP charge with GST).
How much would the difference between Mirae Asset Sharekhan and PhonePe Invest (Share.Market) 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 ₹531.00 less at PhonePe Invest (Share.Market) (our calculation).
Can I apply for SME IPOs on Mirae Asset Sharekhan and PhonePe Invest (Share.Market)?
Neither says clearly on its pages that SME IPOs can be applied for.
Is account opening free at Mirae Asset Sharekhan and PhonePe Invest (Share.Market)?
Mirae Asset Sharekhan: ₹0. PhonePe Invest (Share.Market): not stated.
What is the demat AMC at Mirae Asset Sharekhan and PhonePe Invest (Share.Market)?
Mirae Asset Sharekhan: ₹400 a year, free for the first year. PhonePe Invest (Share.Market): not stated.