Share.Market
PhonePe's brokerage. Strong mobile experience, zero AMC, competitive pricing.
True cost on ₹50,000 delivery trade
₹177.21
₹111.51 unavoidable govt/exchange charges
+ ₹65.70 broker charges
vs ₹126.26 at Dhan (cheapest)
— ₹50.95 more
About Share.Market
Share.Market is PhonePe's stock brokerage, launched in 2023. It benefits from PhonePe's massive user base and strong UX design language. Zero AMC and DP charge at ₹18.50 are competitive. Brokerage is 0.1% or ₹20 (lower, min ₹2) on delivery — not zero, but fair.
Who is Share.Market right for?
Long-term / Delivery investing Good
Min ₹2 brokerage on delivery + zero AMC. Decent for regular investors.
Intraday trading Good
0.1% capped at ₹20 (min ₹2). Not the cheapest but reliable.
F&O / Options trading Good
Flat ₹20 for F&O.
Beginner investors Excellent
PhonePe UX is excellent. Great for existing PhonePe users.
Every Share.Market charge, listed
All charges Share.Market can collect — grouped by type. Regulatory charges (STT, exchange fees, SEBI fee, stamp duty) are fixed by law and identical at every broker; they're listed separately below.
| Charge | Rate / Amount | What it means |
|---|---|---|
| Trading charges | ||
| Delivery Brokerage | 0.1% or ₹20, lower (min ₹2) | Per order, charged on both buy and sell legs. The most-advertised number. |
| Intraday Brokerage | 0.1% or ₹20, lower (min ₹2) | MIS orders — buy and sell same day. Per order. |
| F&O Futures Brokerage | Flat ₹20/order | Per futures order/lot. |
| F&O Options Brokerage | Flat ₹20/order | Per options order/lot. |
| MTF Brokerage | MTF not offered | Brokerage on Margin Trading Facility orders. MTF lets you buy more than your balance and hold overnight. |
| Demat charges | ||
| DP Charge (per sell) | ₹18.50/ISIN (incl. CDSL ₹3.25) | Once per company (ISIN), per sell day. Not charged on intraday or F&O. |
| AMC (annual) | Free | Charged yearly to maintain your demat account, regardless of activity. |
| Other fees | ||
| MTF Interest Rate | MTF not offered | Daily interest on borrowed margin. Rate shown is p.a. — confirm before using. |
| Call & Trade | ₹30 extra + brokerage/order | Extra fee per order placed by phone instead of app. |
| Auto Square-off | ₹30 extra + brokerage/position | Charged if broker closes your open intraday position at market end. |
| Payment Gateway | ₹9 + 18% GST = ₹10.62 | Per fund transfer. UPI is usually free — use it. |
| DDPI (one-time) | Free | Demat Debit & Pledge Instruction — avoids TPIN entry on every sell. |
| Account Opening | Free | One-time cost to open demat + trading account. |
| Settlement & custody | ||
| Physical Settlement | ₹20/executed order | Brokerage when an F&O contract results in physical delivery of shares instead of cash settlement. |
| Pledge / Unpledge | ₹20 + GST = ₹23.60/request (pledge & unpledge) | Fee to pledge shares as margin collateral. Charged per ISIN per request. |
| Delayed Payment | 18% p.a. (~0.049%/day) | Daily interest on your debit balance when you owe money to the broker (e.g., after a loss or pending funds transfer). |
| Off-Market Transfer | 0.04% of value or ₹50, whichever is higher (incl. CDSL) | Fee to transfer shares to another demat account outside of exchange settlement. |
| Currency & Commodity | ||
| CDS Futures | Flat ₹20/order | Brokerage on currency derivative futures (USDINR, EURINR, etc.). |
| CDS Options | Flat ₹20/order | Brokerage on currency derivative options. |
| Commodity Futures | Not offered | Brokerage on MCX commodity futures (Gold, Silver, Crude Oil, etc.). |
| Commodity Options | Not offered | Brokerage on MCX commodity options. |
| Demat services | ||
| MF DP Charges | ₹18.50 per instruction per ISIN (₹3.50 for value < ₹100) | DP charges on mutual fund redemptions from demat. |
| Corporate Action | Free | Processing fee for bonus, split, dividend, rights issue, etc. |
| Dematerialisation | ₹200 + GST/certificate | Fee to convert physical share certificates to electronic demat form. |
| Rematerialisation | ₹200 + GST/certificate | Fee to convert demat shares back to physical certificates. |
| Failed Demat | ₹50 + GST per failed instruction | Penalty when a demat transfer instruction fails. |
| Account & documents | ||
| API Access | Not offered | Monthly or annual fee for trading API access. |
| API Brokerage | Not offered | Brokerage rate when trading via API. |
| Account Reactivation | ₹100 + GST = ₹118 | Fee to reactivate a dormant or frozen account. |
| Instant Withdrawal | Free via UPI | Fee for instant fund withdrawal to bank account. |
| DIS Slip | ₹100 + GST/booklet | Physical Delivery Instruction Slip booklet. |
| Physical CMR | ₹50 + GST | Physical copy of Client Master Report. |
| Physical Contract Note | Not available | Physical copy of daily contract note. |
| Account modifications | ||
| Name Change | ₹100 3–7 working days | Fee and processing time to change your name on demat records. |
| Mobile & Email | Free | Fee to update your registered mobile number or email address. |
| Address Change | ₹100 | Fee to update your registered address. |
| Nominee Change | Free | Fee to add, remove, or modify nominee details. |
| DOB Correction | ₹100 | Fee to correct date of birth on demat records. |
| Bank Account Change | Free | Fee to change your primary linked bank account. |
| KYC Update | Re-KYC: Free; Modification: ₹100 | Fee for re-KYC or KYC detail modification. |
| Cheque Bounce Penalty | ₹350 + 18% GST = ₹413 | Penalty when a cheque deposited with the broker bounces. |
What you'd actually pay
All-in cost per trade — brokerage + GST + DP charge + every regulatory charge.
₹10K
₹64.40
0.644% of trade
₹42.10 broker ₹22.30 govt/exchange incl. ₹18.50 DP
₹25K
₹121.46
0.486% of trade
₹65.70 broker ₹55.76 govt/exchange incl. ₹18.50 DP
₹50K
₹177.21
0.354% of trade
₹65.70 broker ₹111.51 govt/exchange incl. ₹18.50 DP
₹1L
₹288.73
0.289% of trade
₹65.70 broker ₹223.03 govt/exchange incl. ₹18.50 DP
₹5L
₹1,180.85
0.236% of trade
₹65.70 broker ₹1,115.15 govt/exchange incl. ₹18.50 DP
Govt/exchange charges (₹111.51 on ₹50K) are identical at every broker — only the broker portion differs.
Regulatory charges — the ones no broker can change
These charges are fixed by law and collected by exchanges / the government. Every broker charges them identically. They add up to ₹111.51 on a ₹50,000 delivery trade.
| Charge | Rate | Amount on ₹50K trade | Who collects | Learn more |
|---|---|---|---|---|
| STT (Securities Transaction Tax) | 0.1% on turnover (delivery) | ₹100.00 | Government of India | STT explained → |
| Exchange Transaction Charge | 0.00297% of turnover (NSE) | ₹2.97 | NSE / BSE | Exchange fee → |
| GST on Exchange Charge | 18% on exchange charge | ₹0.53 | Government of India | GST explained → |
| SEBI Regulatory Fee | ₹10 per crore turnover | ₹0.51 | SEBI | SEBI fee → |
| Stamp Duty | 0.015% on buy value | ₹7.50 | State governments | Stamp duty → |
| Total regulatory charges | ₹111.51 | Cannot be reduced by choosing any broker | ||
How does Share.Market compare?
See how Share.Market stacks up against all 16 brokers on any trade value and type.