DH
Dhan
Discount BrokerAccount opening₹0
AMC₹0
Intraday₹20 or 0.03% per executed order, whichever is lower
Broker Comparison
Dhan vs Motilal Oswal
Compare brokerage charges, account fees, trading platforms, products, MTF, advantages and limitations before choosing a broker.
Data verified: 2026-08-03
MO
Motilal Oswal
Full-Service BrokerAccount opening₹0 (Free to open)
AMC₹199 per year (Free for 1st year)
Intraday0.02% of trade volume
Dhan vs Motilal Oswal: Quick comparison
Key charges and account features side by side.
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| Feature | Dhan | Motilal Oswal |
|---|---|---|
| Broker type | Discount Broker | Full-Service Broker |
| Account opening Charges | ₹0 | ₹0 (Free to open) |
| Annual maintenance Charges | ₹0 | ₹199 per year (Free for 1st year) |
| Equity delivery | ₹0 brokerage | 0.20% of trade volume |
| Equity intraday | ₹20 or 0.03% per executed order, whichever is lower | 0.02% of trade volume |
| Futures | ₹20 per executed order | 0.02% of trade volume |
| Options | ₹20 per executed order | ₹20 per lot |
| Commodity | ₹20 per executed order | 0.02% or ₹20 per lot |
| Currency | ₹20 or 0.03% per executed order, whichever is lower | 0.02% for Futures / ₹20 per lot for Options |
| DP charges | ₹12.50 per ISIN + GST | ₹20 or 0.025% of the transaction value per scrip (whichever is higher) |
| Auto Square Off | ₹20 per order plus GST | ₹50 per executed order. |
| Call & trade | ₹50 per executed order plus 18% GST | ₹50 per executed order. |
| Customer support | Official app/web help centre, ticket, email and/or phone support. | Official app/web help centre, ticket, email and/or phone support. |
| Active Users | Check official tariff | NSE Active Clients: ~8.99 Lakh |
About Dhan
Founded in 2021, Dhan is a Mumbai-based, technology-driven stockbroking platform serving investors and traders across India. It is registered with SEBI as a stockbroker and is also associated with CDSL, NSE, BSE and MCX.
Dhan allows users to invest and trade in stocks, ETFs, futures, options and commodities. Its platform suite includes the Dhan App, Dhan Web, Options Trader App, TradingView integration and tv.dhan.co for advanced chart-based trading.
Dhan offers competitive brokerage, including zero brokerage on equity delivery and ₹20 or 0.03%, whichever is lower, on intraday trades. With zero account-opening and maintenance charges, user-friendly platforms and a 50% brokerage discount for women, Dhan is suitable for both beginners and active traders.
About Motilal Oswal
Motilal Oswal Financial Services Limited (MOFSL) is a Mumbai-based financial services company founded in 1987 by Motilal Oswal and Raamdeo Agrawal. It has grown from a stockbroking firm into a diversified financial institution listed on the BSE and NSE.
The company offers stockbroking, wealth management, institutional broking, mutual funds, portfolio management services, investment banking, and home finance. It serves retail investors, high-net-worth individuals, and institutional clients across India.
Motilal Oswal is known for its research-driven investment services and its “Buy Right, Sit Tight” philosophy, which focuses on long-term value investing. It provides services through an extensive branch network and digital trading platforms.
Trading Platforms & Tools
- Dhan offers multiple trading platforms for different types of investors and traders. Its key platforms include the Dhan App, Dhan Web, Options Trader App, tv.dhan.co and direct trading through TradingView. These platforms provide advanced charts, option-chain analysis, trading indicators, watchlists and fast order execution.
Products Offered
- Dhan offers a wide range of investment and trading products, including equity stocks, ETFs, IPOs, mutual funds, futures, options, commodities and currency derivatives. These products are available through its mobile and web-based trading platforms for both investors and active traders.
Trading Platforms & Tools
- Motilal Oswal offers the RIISE mobile app and web platform for online trading and investing. These platforms provide access to equities, derivatives, commodities, mutual funds, IPOs and other investment products, along with advanced charts, market data, research reports, stock recommendations and portfolio-tracking tools
Products Offered
- Motilal Oswal offers equities, futures and options, commodities, currency derivatives, mutual funds, IPOs, ETFs, US stocks, bonds, NCDs, fixed deposits, insurance, Portfolio Management Services (PMS) and Alternative Investment Funds (AIFs). It also provides margin trading, depository, wealth management and research-based advisory services.
Dhan pros and cons
Pros
- Zero brokerage on equity delivery trades.
- Advanced platforms for options and active traders.
- Zero account-opening and annual maintenance charges.
Cons
- No offline branch network for in-person support.
- Advanced tools may feel complex for beginners.
Motilal Oswal pros and cons
Pros
- Strong research reports and investment recommendations.
- Wide range of trading and investment products.
- Multiple digital platforms and an extensive branch network.
Cons
- Brokerage charges may be higher than discount brokers.
- Pricing plans and additional charges can be complex for beginners.
Which broker should you choose?
Choose based on the segment you trade, total account cost, platform requirements, research needs and support preference. Verify the latest tariff and product availability on the brokers’ official websites before opening an account.
Read complete broker reviews
Frequently asked questions
Is Dhan a SEBI-registered stockbroker?
Yes. Dhan operates under Raise Securities Private Limited, which is registered with SEBI as a stockbroker. It is also a member of NSE, BSE and MCX and a depository participant with CDSL.
Is opening a Dhan Demat account free?
Yes. Dhan currently charges ₹0 for account opening and does not charge an annual maintenance or platform fee.
What are Dhan’s brokerage charges?
Dhan charges zero brokerage on equity delivery, ETFs, IPOs and mutual funds. Equity intraday and ETF intraday trades are charged at ₹20 or 0.03% per executed order, whichever is lower.
How much does Dhan charge for futures and options?
Dhan charges ₹20 per executed order for equity and commodity futures and options. Statutory taxes, exchange charges and other applicable fees are charged separately.
Which investment products are available on Dhan?
Dhan offers stocks, ETFs, futures, options, commodities, IPOs, mutual funds and the Securities Lending and Borrowing Mechanism, or SLBM.
Does Dhan provide a separate platform for options trading?
Yes. Options Trader by Dhan is a dedicated platform for F&O traders, offering real-time options data, strategy-building features and analytical tools.
Can I trade directly from TradingView with Dhan?
Yes. Dhan allows users to connect their account with TradingView and trade eligible stocks, futures and commodities directly through TradingView charts.
Is the Dhan Options Trader platform free?
Yes. Dhan states that all features available on its Options Trader platform are free for Dhan users.
What documents are required to open a Dhan account?
Users generally need PAN, Aadhaar-linked mobile details and bank information. Income proof may also be required to activate futures, options or commodity trading.
Is Dhan suitable for beginners?
Dhan can be used by beginners for stocks, ETFs, IPOs and mutual funds. However, some of its advanced charting, API and options-trading tools may require additional learning before use.
Is Motilal Oswal a trusted stockbroker?
Yes, Motilal Oswal is an established full-service financial services company known for stockbroking, investment products and research-based recommendations.
Is Motilal Oswal registered with SEBI?
Yes, Motilal Oswal Financial Services Limited is a SEBI-registered intermediary and provides regulated broking and investment services in India.
Is Motilal Oswal Demat account opening free?
Yes, Motilal Oswal currently offers Demat and trading account opening at ₹0, with no minimum amount required to open an account.
Does Motilal Oswal charge annual maintenance charges?
Motilal Oswal currently advertises ₹0 AMC and administrative charges for the first year. Charges after the introductory period may depend on the selected account or pricing plan.
What is the Motilal Oswal trading app called?
Motilal Oswal’s main trading and investment platform is called RIISE. It is available as a mobile app and web-based trading platform.
What can I invest in through Motilal Oswal?
Investors can access equities, futures and options, commodities, mutual funds, IPOs, bonds, US stocks, insurance and ready-made investment portfolios through its platforms.
Does the RIISE app provide advanced charts?
Yes, the RIISE app provides free TradingView charts, market data and trading tools for technical analysis and order placement.
Can I do intraday and options trading with Motilal Oswal?
Yes, Motilal Oswal supports intraday, futures and options trading through the RIISE app and web platform.
Can I invest in US stocks through Motilal Oswal?
Yes, eligible investors can access US stocks through the international investing section available in the RIISE app.
Is Motilal Oswal suitable for beginners?
Motilal Oswal can be suitable for beginners who need research reports, investment recommendations, educational resources and access to professional advisory services. However, users should compare its brokerage and account-related charges before opening an account.