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Best Brokers for IPO Investment in 2024
How to Choose the Best Broker for IPO Investment in 2024?
Investing in Initial Public Offerings (IPOs) offers a unique opportunity to grow your wealth in the stock market. Whether you are looking for IPO listing gains or long-term investment benefits, it is crucial to choose the right brokerage platform to apply for IPOs efficiently. In India, there are many options to choose from. Read and know about some of the best brokers for IPO investment in 2024.
Read on – Top 20 IPOs to Watch Out for in 2024.
Best Brokers for IPO Investment in 2024
IPOs provide an exclusive opportunity for investors to become shareholders in a company when it goes public for the first time. This is when a company issues its shares to the public, and investors can buy these shares during the IPO process. Whether you are a seasoned investor or just starting your journey in the stock market, IPOs offer exciting prospects. Know about some of the best brokers for IPO investment in India in 2024:
Zerodha
Zerodha, a prominent brokerage platform, offers free delivery trading, and it provides a free IPO application service, making it an attractive choice for IPO investors. The account opening charges are reasonable, with an online fee of Rs 200 for Equity and Currency accounts and Rs 300 for Equity, Currency, and Commodity accounts. Zerodha’s annual Demat Account Maintenance Charge (AMC) is set at Rs 300, making it an affordable option for investors looking to participate in IPOs.
Open an account with Zerodha, the best of brokers for IPO investment in 2024.
Upstox
Upstox offers a delivery charge of 2.5% or a flat fee of Rs 20, whichever is lower, making it a cost-effective choice for stockholders. It provides free IPO application services and currently has a promotion offering free account opening. Additionally, the annual Demat account maintenance charge is Rs 150 per annum, plus applicable GST. It is another of the best brokers for IPO investment in 2024.
5paisa
5paisa is an attractive option for IPO investments, offering a flat fee of Rs 20 for delivery trading. The platform allows free IPO applications and also provides a hassle-free account opening process without any charges. However, users should note that there is an annual maintenance fee of Rs 300 for their Demat account.
Groww
Groww offers competitive pricing with a delivery charge of 0.05% or a maximum of Rs 20, whichever is lower. It provides a cost-effective IPO application service, allowing you to apply for IPOs for free. Account opening is also free, and there are no annual maintenance charges for the Demat account, making it an appealing choice for investors looking to minimize costs.
ProStocks
ProStocks is another of the biggest brokers for IPO investment in 2024. It offers free delivery, free IPO application, and free account opening with a refundable deposit of Rs 1000. Additionally, its Demat account maintenance charges (AMC) are Rs 0, also with a refundable deposit, making it an enticing choice for investors looking for cost-effective options.
Paytm Money
Paytm Money offers a competitive fee structure for investors. It charges 2.5% or a maximum of Rs 20 (whichever is lower) for delivery trades, making it affordable for long-term investors. Additionally, it provides free IPO application services, making it convenient for those looking to participate in initial public offerings.
The account opening cost is Rs 200, and the good news is that Paytm Money does not charge any annual maintenance fees (Demat AMC), making it one of the most attractive brokers for IPO investment in 2024 for those seeking cost-effective investment solutions.
Fyers
Fyers is a brokerage platform that offers attractive terms for investors. It provides free services across the board, including free delivery trading, free IPO application services, free account opening, and no charges for Demat account maintenance (AMC). This makes Fyers an appealing option for those looking to invest in IPOs and trade in the Indian stock market without incurring additional fees. When it comes to the top brokers for IPO investment in 2024, this one is worth considering too.
Nuvama Wealth
Nuvama Wealth offers a flat rate of Rs. 10 per executed order for delivery trades, making it an attractive option for cost-conscious investors. It provides free IPO application services and also waives account opening charges. In addition, it offers two Demat AMC plans, Lite at Rs. 300 per annum, and Elite at Rs. 500 per annum, with the first year being free, giving investors flexibility and cost-saving options.
Alice Blue
The brokerage firm Alice Blue offers free delivery services, free IPO application, and free account opening. However, it charges an annual fee of Rs 400 for Demat account maintenance.
Angel One
Angel One offers free delivery services, free IPO application facilities, and free account opening. It has an annual Demat account maintenance charge of Rs 240, which is waived for the first year, making it a cost-effective option for IPO investors.
Open an account with Angel One, another of the major brokers for IPO investment in 2024.
How to Choose the Best Broker for IPO Investment in 2024?
Here are some tips to help you make the best choice among the brokers for IPO investment in 2024:
- The direct IPO application process through UPI is the preferred method for purchasing IPOs online. It is crucial to ensure your chosen broker offers this facility. Discount brokers like Zerodha and Upstox enable IPO investments through the UPI payment gateway, while some top brokers even offer Pre-IPO application options, allowing you to apply 3 to 4 days before the IPO opening.
- Many leading brokerage firms offer free or zero brokerage charges for IPO investments, making it essential to look for these cost-effective options.
- Look for a mobile app with an IPO application feature. This is also a must for convenient and quick IPO applications.
- Also, check the brokerage plan of your broker for equity, F&O, commodity, and currency segments to ensure you can trade at the lowest fees.
For IPO investments, discount brokers offer an attractive choice since they usually provide free IPO application facilities with zero brokerage charges. Among these options, Zerodha stands out as the best of the brokers for IPO investment in India. Zerodha enables customers to apply for IPOs online using the Unified Payments Interface (UPI) on their console reporting dashboard, available on the Kite web and mobile app platforms.
However as aforementioned, there are other top brokers for IPO investment worth considering, such as Upstox, 5paisa, Groww, Paytm Money, Fyers, Nuvama Wealth, Alice Blue, and Angel One, each offering online IPO investment facilities to users.
Read on – IPO Investment in India – 10 Best Brokers to Consider.
Conclusion
So these are the best brokers for IPO investment in 2024. While choosing a broker for IPO investments, remember to consider factors like your trading preferences, investment goals, and the fee structure. Carefully assess your options and select the broker that best aligns with your needs and objectives to make the most of the exciting world of IPO investments in 2024. Happy investing!
