Choice Broking and Lemonn are two stockbrokers that investors often compare for brokerage charges, products, trading platforms, and account costs. Choice Broking is listed as a Private Discount Broker , established in 2010 and headquartered in Mumbai, while Lemonn is listed as a Private Discount Broker , established in 2020 and headquartered in Mumbai.
This comparison reviews brokerage, Demat charges, product availability, platforms, features, support, ratings, and complaints. Use the side-by-side tables below to see whether Choice Broking or Lemonn is a better fit for your investment style, platform preference, and budget.
Choice Broking is listed as a Private Discount Broker established in 2010 with headquarters in Mumbai and founded by Kamal Poddar. The broker highlights access to equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures through mobile app access and web trading and promotes features such as watchlists, real-time updates, portfolio tracking, research reports, customised recommendations and stock tips. It follows a Standard Plan brokerage structure.
Lemonn is listed as a Private Discount Broker established in 2020 with headquarters in Mumbai and founded by Ashish Singhal, Govind Soni, & Vimal Sagar Tiwari. It offers equity delivery, equity intraday, equity futures, equity options and mutual funds using mobile app access, web trading and desktop terminal access and supports traders with features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and customised recommendations. Its brokerage model is structured as Standard.
Both brokers use technology-driven platforms to attract active traders and investors, but the better option depends on the combination of pricing, products, services, and support that matters most to you.
Choice Broking vs Lemonn — A Comprehensive Company Overview
| Company Overview | Choice Broking | Lemonn |
|---|---|---|
| Company Type | Private | Private |
| Broker Type | Discount Broker | Discount Broker |
| Headquarters | Mumbai | Mumbai |
| Founder | Kamal Poddar | Ashish Singhal, Govind Soni, & Vimal Sagar Tiwari |
| Establishment Year | 2010 | 2020 |
| Brokerage Plan | Standard Plan | Standard |
Brokerage is the primary cost to compare when choosing a broker. Below is a segment-by-segment breakdown for Choice Broking and Lemonn.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. Choice Broking charges 0.2% of Transaction Value while Lemonn charges Rs 20 per executed order.
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. Choice Broking charges 0.2% of Transaction Value while Lemonn charges Rs 20 per executed order.
Equity futures: This charge applies to futures contracts on stocks and indices. Choice Broking charges 0.2% of Transaction Value while Lemonn charges Rs 20 per executed order.
Equity options: This charge applies to equity option contracts. Choice Broking charges Rs.25 per lot while Lemonn charges Rs 20 per executed order.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. Choice Broking charges 0.02% of Transaction Value . Lemonn does not currently list a charge for this segment.
Commodity options: This charge applies to option contracts on commodity instruments. Choice Broking charges Rs.50 per lot . Lemonn does not currently list a charge for this segment.
Currency futures: This charge allows participation in forex price movements on the exchange. Choice Broking charges 0.02% of Transaction Value . Lemonn does not currently list a charge for this segment.
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. Choice Broking charges Rs.20 per lot . Lemonn does not currently list a charge for this segment.
Choice Broking vs Lemonn — Detailed Brokerage Comparison
| Brokerage | Choice Broking | Lemonn |
|---|---|---|
| Brokerage Plan | Standard Plan | Standard |
| Subscription Charges | Zero | Zero |
| Equity Delivery | 0.2% of Transaction Value | Rs 20 per executed order |
| Equity Intraday | 0.2% of Transaction Value | Rs 20 per executed order |
| Equity Future | 0.2% of Transaction Value | Rs 20 per executed order |
| Equity Option | Rs.25 per lot | Rs 20 per executed order |
| Commodity Future | 0.02% of Transaction Value | Not Available |
| Commodity Option | Rs.50 per lot | Not Available |
| Currency Future | 0.02% of Transaction Value | Not Available |
| Currency Option | Rs.20 per lot | Not Available |
Choice Broking provides mobile app access and web trading for order placement, portfolio tracking, and market monitoring. Lemonn provides mobile app access, web trading and desktop terminal access for its users.
Android app: Choice Broking and Lemonn both list an Android trading app.
iOS app: Choice Broking and Lemonn both list an iOS trading app.
Web trading platform: Choice Broking and Lemonn both list a web trading platform.
Desktop trading terminal: Lemonn lists a desktop trading terminal, while Choice Broking does not currently mention it.
Algo trading: Neither broker currently highlights algo trading support.
Basket trading: Neither broker currently highlights basket trading.
Foreign stocks platform: Neither broker currently highlights foreign stocks access.
Mutual fund platform: Lemonn lists a mutual fund investment platform, while Choice Broking does not currently mention it.
Digital gold platform: Neither broker currently highlights digital gold investing.
Bonds platform: Neither broker currently highlights a bonds investment platform.
Choice Broking vs Lemonn — Complete Comparison of Trading Platforms
| Trading Platform | Choice Broking | Lemonn |
|---|---|---|
| Android App | Choice Broking Android App Link | Download |
| iOS App | Choice Broking iOS App Link | Download |
| Web Trading Platform | Choice Broking Web Trading Link | Lemonn Trade |
| Trading Terminal | NA | Available |
| Algo Trading Platform | NA | Not Available |
| Foreign Stocks Platform | NA | Not Available |
| Basket Trading Platform | NA | Not Available |
| Mutual Fund Platform | NA | Available |
| Digital Gold Platform | NA | Not Available |
| Bonds Platform | NA | Not Available |
Choice Broking highlights trading features including watchlists, real-time updates, portfolio tracking, research reports, customised recommendations and stock tips, while Lemonn promotes watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and customised recommendations. The table below shows the full feature set for both brokers side by side.
Wishlist: Monitor specific stocks or assets by adding them to a watchlist for close tracking. Both Choice Broking and Lemonn offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both Choice Broking and Lemonn offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both Choice Broking and Lemonn offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Lemonn offers this; Choice Broking does not currently highlight it.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. Both Choice Broking and Lemonn offer this feature.
Customised recommendations: Personalised investment suggestions based on your objectives and behaviour patterns. Both Choice Broking and Lemonn offer this feature.
Stock tips: Valuable tips on stocks to buy, hold, or sell based on market trends. Both Choice Broking and Lemonn offer this feature.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Both Choice Broking and Lemonn offer this feature.
Live market: Live updates on market movements and trends. Both Choice Broking and Lemonn offer this feature.
Multi profile management: Manage multiple trading profiles from a single account. Lemonn offers this; Choice Broking does not currently highlight it.
Secure platform: A secure trading environment with next-generation security controls. Both Choice Broking and Lemonn offer this feature.
Choice Broking vs Lemonn — Comprehensive Comparison of Trading Features
| Trading Feature | Choice Broking | Lemonn |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes |
| Online MF Buy | No | Yes |
| Research Reports | Yes | Yes |
| Global Indices | No | No |
| Customised Recommendations | Yes | Yes |
| Stock Tips | Yes | Yes |
| Interactive Charts | Yes | Yes |
| Live Market | Yes | Yes |
| Multi Profile Management | No | Yes |
| Robust & Secure Platform | Yes | Yes |
Stockbrokers use promotional offers to attract and retain clients. Below is a side-by-side comparison of the offers currently listed by Choice Broking and Lemonn.
Free account opening: Choice Broking and Lemonn both list free account opening.
Free AMC: Lemonn lists free Demat AMC, while Choice Broking does not currently mention it.
Free brokerage: Neither broker currently highlights free brokerage.
Flat brokerage: Lemonn lists flat brokerage pricing, while Choice Broking does not currently mention it.
Flexible brokerage plans: Neither broker currently highlights flexible brokerage plans.
Happy trading hours: Neither broker currently highlights happy trading hours.
Free delivery trading: Lemonn lists free delivery trading, while Choice Broking does not currently mention it.
Free intraday trading: Neither broker currently highlights free intraday trading.
Free F&O trading: Neither broker currently highlights free F&O trading.
Free research reports: Neither broker currently highlights free research reports.
Free trading calls: Neither broker currently highlights free trading calls.
Zero brokerage for loss trades: Neither broker currently highlights zero brokerage for loss-making trades.
Referral offers: Choice Broking offers Upto Rs. 100 per Client for referrals; Lemonn does not currently list a referral offer.
Choice Broking vs Lemonn — Comparison of Latest Offers
| Offer | Choice Broking | Lemonn |
|---|---|---|
| Free Account Opening | Yes | Yes |
| Free AMC | No | Free for 1st Year, Rs 250+ Gst afterwards |
| Free Brokerage | No | No |
| Flat Brokerage | No | Yes |
| Flexible Brokerage Plans | No | No |
| Happy Trading Hours | No | No |
| Free Delivery Trading | No | Yes |
| Free Intraday Trading | No | No |
| Free F&O Trading | No | No |
| Free Research Reports | No | No |
| Free Trading Calls | No | No |
| Referral Offers | Upto Rs. 100 per Client | No |
| Margin Funding / Pledging | Yes | No |
| Brokerage Cashback | No | No |
| Zero Brokerage for Loss-Making Trades | No | No |
Product availability determines whether a broker can support your preferred markets. Choice Broking highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures, while Lemonn highlights equity delivery, equity intraday, equity futures, equity options and mutual funds.
The table below compares the full product lineup side by side across equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options, currency futures, currency options, insurance and mutual funds.
Choice Broking vs Lemonn — Complete Comparison of Products
| Product | Choice Broking | Lemonn |
|---|---|---|
| Equity Delivery | Yes | Yes |
| Equity Intraday | Yes | Yes |
| Equity Option | Yes | Yes |
| Equity Future | Yes | Yes |
| Commodity Option | Yes | No |
| Commodity Future | Yes | No |
| Currency Option | Yes | No |
| Currency Future | Yes | No |
| Foreign Stocks | No | No |
| Mutual Funds | No | Yes |
| Banking | No | |
| Insurance | Yes | No |
| Corporate Bonds | No | No |
| Government Bonds | No | No |
| Digital Gold | No | No |
Demat services: Choice Broking and Lemonn both list Demat services.
Trading services: Choice Broking and Lemonn both list trading services.
Intraday services: Choice Broking and Lemonn both list intraday trading services.
F&O services: Choice Broking and Lemonn both list F&O services.
IPO services: Lemonn lists IPO services, while Choice Broking does not currently mention it.
3-in-1 account: Lemonn lists 3-in-1 account support, while Choice Broking does not currently mention it.
Stock research: Choice Broking and Lemonn both list stock research.
Stock recommendations: Choice Broking and Lemonn both list stock recommendations.
Trading education: Neither broker currently highlights trading education.
Share pledging: Choice Broking and Lemonn both list share pledging.
PMS or PCG: Lemonn lists PMS or PCG support, while Choice Broking does not currently mention it.
NRI services: Neither broker currently highlights NRI services.
Choice Broking provides Demat services, trading services, intraday trading, F&O trading, stock research and stock recommendations, while Lemonn offers Demat services, trading services, intraday trading, F&O trading, IPO access and 3-in-1 account support.
Choice Broking vs Lemonn — In-Depth Comparison of Services
| Service | Choice Broking | Lemonn |
|---|---|---|
| Demat Services | Yes | Yes |
| Trading Services | Yes | Yes |
| Intraday Services | Yes | Yes |
| F&O Services | Yes | Yes |
| IPO Services | No | Yes |
| 3-in-1 Account | No | Yes |
| Stock Research | Yes | Yes |
| Stock Recommendations | Yes | Yes |
| Trading Education | No | No |
| Share Pledging | Yes | Yes |
| PMS or PCG | No | Yes |
| NRI Services | No | No |
Stock advisory helps investors choose appropriate stocks through research reports, tips, and market reviews. The table below shows which advisory products are available from Choice Broking and Lemonn.
Choice Broking and Lemonn — Detailed Comparison of Advisory Services
| Advisory | Choice Broking | Lemonn |
|---|---|---|
| Fundamental Reports | Yes | Yes |
| Research Reports | Yes | Yes |
| Company Reports | Yes | Yes |
| Annual Reports | Yes | Yes |
| IPO Reports | No | Yes |
| Technical Reports | No | Yes |
| Stock Tips | Yes | Yes |
| Daily Top Stock Picks | Yes | Yes |
| Daily Market Review | No | Yes |
| Monthly Review | Yes | Yes |
| Weekly Review | No | Yes |
| Relationship Manager | Yes | Yes |
| Robo Advisory | No | Yes |
Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from Choice Broking and Lemonn across different segments.
Choice Broking and Lemonn — Comprehensive Comparison of Trading Exposure
| Exposure | Choice Broking | Lemonn |
|---|---|---|
| Equity Delivery | 1x | 1x |
| Equity Intraday | Upto 5x (Depends on Stocks) | 2x |
| Equity F&O Carry Forward | 1X | 1x |
| Equity F&O Intraday | 1.3x | 2x |
| Commodity F&O Carry Forward | 1x | N/A |
| Commodity F&O Intraday | 1.3x | N/A |
| Currency F&O | 1x | N/A |
Choice Broking and Lemonn both list a sub-broker program. Choice Broking and Lemonn both list a partner program. Choice Broking and Lemonn both list a referral program.
Choice Broking vs Lemonn — Comparative Analysis of Programs
| Program | Choice Broking | Lemonn |
|---|---|---|
| Sub-Broker Program | Yes | Yes |
| Partner Program | Yes | Yes |
| Referral Program | Yes | Yes |
Choice Broking provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. Lemonn provides support through trading desk support, call support, email support, website support and Facebook support. Choice Broking operates Available branches.
Choice Broking and Lemonn — Comprehensive Comparison of Customer Support
| Support Channel | Choice Broking | Lemonn |
|---|---|---|
| Trading Support | Available, Free | +918035769929 |
| Dedicated Dealer | Available, Free | |
| Call Support | 022-67079999 | +918040011310 |
| Email Support | [email protected] | [email protected] |
| WhatsApp Support | NA | |
| Website Support | Website Link | https://lemonn.co.in/ |
| Facebook Support | Facebook Support Link | https://www.facebook.com/lemonnhq |
| Twitter / X Support | Twitter Support Link | https://twitter.com/LemonnHQ |
| Telegram Support | Telegram Support Link | — |
| Branches / Offices | Available |
Both brokers have been evaluated across key parameters to help investors make an informed comparison. Choice Broking carries an overall rating of 8.63 / 10, while Lemonn carries an overall rating of 4/5.
Choice Broking vs Lemonn — Ratings Comparison
| Rating Parameter | Choice Broking | Lemonn |
|---|---|---|
| Overall Rating | 8.63 / 10 | 4/5 |
| Customer Support | 8.59 / 10 | 4/5 |
| Technology | 8.73 / 10 | 4/5 |
| Charges | 8.66 / 10 | 4/5 |
| Products & Services | 8.58 / 10 | 4/5 |
| Experience | 8.56 / 10 | 4/5 |
SEBI, BSE, and NSE regularly publish broker complaint data as part of investor protection oversight. The table below shows the complaint records for both brokers.
Choice Broking & Lemonn — Comparison of Customer Complaints
| Complaint Metric | Choice Broking | Lemonn |
|---|---|---|
| Total Complaints Lodged | 78 | |
| Total Complaints Resolved | 69 | |
| % of Resolved Complaints | 88.46% | |
| Non-Actionable Complaints | 6 | |
| % of Non-Actionable Complaints | 7.69% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for Choice Broking and Lemonn.
Choice Broking vs Lemonn — Detailed Comparison of Transaction Charges
| Transaction Charges | Choice Broking | Lemonn |
|---|---|---|
| Equity Delivery | ₹1500 per crore on buy orders | |
| Equity Intraday | ₹300 per crore on buy orders | |
| Equity Future | ₹200 per crore on buy orders | |
| Equity Option | ₹200 per crore on buy orders | |
| Commodity Future | - | |
| Commodity Option | - | |
| Currency Future | - | |
| Currency Option | - |
Pledge creation charges apply when traders borrow against their held securities. Pledge invocation charges apply if the pledged shares are sold due to a shortfall. Margin trading interest is the rate charged on borrowed funds.
Choice Broking & Lemonn — Comprehensive Comparison of Pledge Charges
| Pledge Charge | Choice Broking | Lemonn |
|---|---|---|
| Pledge Creation Charges | Rs 20 + GST per ISIN | |
| Pledge Invocation Charges | ₹50 per ISIN | |
| Margin Trading Interest | ₹20 |
Beyond brokerage, several statutory and operational charges apply. These include SEBI turnover fees, DP charges, GST, account closure, reactivation, dematerialisation, and call & trade charges.
Choice Broking and Lemonn — Detailed Comparison of Hidden / Other Charges
| Charge | Choice Broking | Lemonn |
|---|---|---|
| SEBI Turnover Charges | 0.0001% | |
| DP Charges | Rs 20 | |
| GST | 18% on (transaction charges) | |
| Account Closure Charges | ||
| Reactivation Charges | ||
| Dematerialisation Charges | ||
| Call & Trade Charges | ₹50 per ISIN |
Choice Broking lists account opening charges of Free and Demat AMC of Rs.200 – Rs.3000 (First year free). Lemonn lists account opening charges of Free and Demat AMC of Rs 250+ GST.
Choice Broking vs Lemonn — Detailed Comparison of Demat Charges
| Demat Charges | Choice Broking | Lemonn |
|---|---|---|
| Account Opening Charges | Free | Free |
| Annual Maintenance Charges (AMC) | Rs.200 – Rs.3000 (First year free) | Rs 250+ GST |
Securities Transaction Tax (STT) and Commodity Transaction Tax (CTT) are government levies — the same for all brokers in India. These are shown below for reference.
Choice Broking vs Lemonn — Comparative Analysis of STT and CTT Charges
| STT & CTT | Choice Broking | Lemonn |
|---|---|---|
| Equity Delivery | 0.1% on buy & sell | |
| Equity Intraday | 0.025% on the sell side | |
| Equity Future | 0.01% on the sell side | |
| Equity Option | 0.5% on sell side | |
| Commodity Future | - | |
| Commodity Option | - | |
| Currency Future | - | |
| Currency Option | - |
Stamp duty is a government tax charged when the broker issues, sells, or transfers a security. It is collected at the end of each trading day.
Choice Broking and Lemonn — Comparison of Stamp Duty Charges
| Stamp Duty | Choice Broking | Lemonn |
|---|---|---|
| Equity Delivery | ||
| Equity Intraday | ||
| Equity Future | ||
| Equity Option | ||
| Commodity Future | ||
| Commodity Option | ||
| Currency Future | ||
| Currency Option |