To apply for any IPO you need a demat and trading account. The table below compares India's widely used brokers on the four charges that matter most for an IPO investor — account opening, annual maintenance (AMC), delivery brokerage, and intraday brokerage. Charges are indicative and change often; confirm the latest on each broker's official site before opening an account.
Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.
| Broker | Account Opening | AMC | Delivery Brokerage | Intraday Brokerage | |
|---|---|---|---|---|---|
| Angel One Full-service + discount hybrid | ₹0 | ₹0 first year (₹240/yr after, waived on conditions) | ₹0 (first 30 days), then ₹20 or 0.1% | ₹20 or 0.03% per order | Open account → |
| Upstox Backed by Ratan Tata, Tiger Global | ₹0 | ₹0 (plan-dependent) | ₹20 or 2.5% per order (whichever lower) | ₹20 or 0.05% per order | Open account → |
| m.Stock (Mirae Asset) Zero-brokerage lifetime plan | ₹0 (one-time plan option for zero brokerage) | ₹0 lifetime | ₹0 on the zero-brokerage plan | ₹5–₹20 per order (plan-dependent) | Open account → |
| Dhan Options-trader focused | ₹0 | ₹0 | ₹0 on delivery | ₹20 or 0.03% per order | Open account → |
| 5paisa Listed company (IIFL group) | ₹0 | ₹0 (plan-dependent) | ₹20 per order (plan-dependent) | ₹20 per order | Open account → |
| Paytm Money Paytm ecosystem integration | ₹0 | ₹0 | ₹20 or 2.5% per order (whichever lower) | ₹15 or 0.05% per order | Open account → |
| Zerodha India's largest broker by active clients | ₹200 (online) | ₹300/yr | ₹0 on equity delivery | ₹20 or 0.03% per order | Open account → |
| Groww Beginner-friendly app | ₹0 | ₹0 | ₹20 or 0.1% per order (whichever lower) | ₹20 or 0.1% per order | Open account → |
Disclosure: stoicHQ may earn a commission when you open a demat account through links on this page, at no extra cost to you. stoicHQ is not SEBI registered and does not provide investment advice; broker information is factual and for comparison only. Verify current charges on the broker's official site before opening an account.
Investors who want a large, established broker with research and support alongside low charges.
Active traders and investors who want quick digital onboarding and a streamlined app.
Buy-and-hold investors who want a lifetime zero-AMC account and zero delivery brokerage.
Active traders who want an options-first platform with zero delivery brokerage.
Cost-conscious investors who want flat per-order pricing from a listed broker.
First-time investors already inside the Paytm ecosystem who want a simple UPI-first flow.
Investors who prioritise India's most-used platform and zero delivery brokerage.
Beginners who want the simplest mobile-first app for stocks and mutual funds.
Related: Upcoming IPOs · IPO GMP today · Check IPO allotment status