Dhan
Discount BrokerAccount opening₹0
AMC₹0
Intraday₹20 or 0.03% per executed order, whichever is lower
Broker Comparison
Dhan vs SBI Securities
Compare brokerage charges, account fees, trading platforms, products, MTF, advantages and limitations before choosing a broker.
Data verified: 2026-08-03
SBI Securities
Bank BrokerAccount opening₹0
AMC₹750
Intraday0.05% per trade.
Dhan vs SBI Securities: Quick comparison
Key charges and account features side by side.
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| Feature | Dhan | SBI Securities |
|---|---|---|
| Broker type | Discount Broker | Bank Broker |
| Account opening Charges | ₹0 | ₹0 |
| Annual maintenance Charges | ₹0 | ₹750 |
| Equity delivery | ₹0 brokerage | 0.50% per trade. |
| Equity intraday | ₹20 or 0.03% per executed order, whichever is lower | 0.05% per trade. |
| Futures | ₹20 per executed order | 0.05% per trade. |
| Options | ₹20 per executed order | ₹100 per lot. |
| Commodity | ₹20 per executed order | 0.05% of turnover |
| Currency | ₹20 or 0.03% per executed order, whichever is lower | 0.03% of total turnover value |
| DP charges | ₹12.50 per ISIN + GST | 0.01% of the trade value (Minimum ₹21, Maximum ₹300) per debit transaction |
| Auto Square Off | ₹20 per order plus GST | ₹49 per executed order |
| Call & trade | ₹50 per executed order plus 18% GST | ₹49 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: ~11.17 Lakh (1.11 million) active users |
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 SBI Securities
SBI Securities Limited is the stockbroking arm of the State Bank Group and a wholly owned subsidiary of SBI Capital Markets Limited. Founded in 2006, it operates as a full-service stock broker offering retail and institutional equity broking, derivatives trading, depository services, and third-party financial products.
Its online trading platform allows resident Indians and NRIs to invest in equities, derivatives, mutual funds, ETFs, IPOs, and NCDs. The company also offers access to selected lending products, including home loans, car loans, and loans against securities.
SBI Securities is registered with SEBI and acts as a Depository Participant with both NSDL and CDSL. It also provides online trading services for NRIs, although availability and account features may vary depending on the investor’s country of residence and applicable regulations.
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
- SBI Securities offers web and mobile trading platforms for investing in equities, derivatives, mutual funds, ETFs, IPOs, NCDs, and other products. Its platforms include features such as watchlists, live market data, portfolio tracking, research reports, online order placement, and account management, along with call-and-trade and offline support services.
Products Offered
- SBI Securities offers a wide range of products, including equities, derivatives, mutual funds, ETFs, IPOs, NCDs, bonds, corporate fixed deposits, 3-in-1 account and depository services. It also provides selected lending products such as home loans, car loans, and loans against securities.
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.
SBI Securities pros and cons
Pros
- Maximum Safety: Backed fully by State Bank of India, offering high reliability for large long-term portfolios.
- 3-in-1 Integration: Links SBI bank, demat, and trading accounts for instant, seamless fund transfers.
- Physical Branch Network: Provides extensive offline customer support through pan-India bank branches and investment desks.
Cons
- High Standard Fees: Charges up to 0.50% for equity delivery, making it expensive compared to discount brokers.
- Costly Operational Charges: Imposes a high minimum DP fee of ₹21 per scrip alongside steep auto square-off penalties.
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.
Broker Rating
Dhan
4.1/5
SBI Securities
4.3/5
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.
What are the charges to open a Demat and Trading Account?
Online digital account opening is ₹0 (Free), though physical application routes may attract minor documentation or stamp fees
Does SBI Securities offer a 3-in-1 integrated account?
Yes, it links your SBI Savings Bank Account, Demat Account, and Trading Account for instant, paperless fund transfers.
What are the document requirements to open an account?
Resident Indians require a PAN Card, Aadhaar Card (linked to a mobile number for OTP), a canceled cheque/bank proof, and a live photo via e-KYC.
What is the standard brokerage under the basic eZ-Trade plan?
The standard plan charges a percentage fee of 0.50% for Equity Delivery and 0.05% for Equity Intraday trading
What is the SBI Securities ProZero plan?
The SBI Securities ProZero Plan is a discount tier providing lifetime ₹0 brokerage on Intraday trading across Equity and F&O segments.
How much does carrying forward a Futures or Options position cost?
Under flat-fee models like ProZero, overnight positional F&O trades are priced at a flat ₹20 per executed order.
How does the E-Margin / Margin Trading Facility (MTF) work here?
The SBI Securities E-Margin Facility provides up to 4x buying leverage on over 700 selected stocks. You pay a 25% upfront margin, and SBI funds the remaining 75%
What is the interest rate charged on E-Margin (MTF) allocations?
SBI Securities charges 0% interest for the first 23 trading days. From the 24th trading day onward, interest applies at 0.04% per day (~14.6% annually)
Is SBI Securities a full-service stock broker?
Yes, SBI Securities is a full-service stock broker offering equity trading, derivatives, mutual funds, IPOs, ETFs, NCDs, depository services, research support, and other investment products.
Can NRIs open an account with SBI Securities?
Yes, SBI Securities provides trading and investment services to NRIs. However, available products and account features may vary according to the investor’s country of residence and regulatory requirements.