Upstox Vs Dhan – Compare Upstox and Dhan are two leading discount brokers in India, offering a range of trading and investment options. While Upstox is known for its advanced trading platforms and investor-friendly features, Dhan focuses on providing a seamless trading experience with zero brokerage on equity delivery. This comparison will help you decide which broker suits your needs best.
About Upstox
Upstox is a tech-first, low-cost brokerage firm in India, offering trading opportunities across various segments, including equities, commodities, currencies, futures, and options. Trading is available through its advanced platforms – Upstox Pro Web and Upstox Pro Mobile. The company is backed by prominent investors such as Kalaari Capital, Ratan Tata, and GVK Davix. Upstox provides a feature-rich trading experience with tools for analysis, charting, and more.
About Dhan
Founded in 2021, Dhan is a Mumbai-based financial services firm registered with SEBI. It provides various investment opportunities, including Stocks, ETFs, Options, Futures, and Commodities. Dhan is also registered with CDSL and the major stock exchanges like NSE, BSE, and MCX. The platform is designed for modern investors looking for efficient and effective wealth-building solutions.
Upstox Vs Dhan – Basic Comparison
| Feature | Upstox | Dhan |
|---|---|---|
| Type of Broker | Discount Broker | Discount Broker |
| Exchange Membership | BSE, NSE, MCX | BSE, NSE, MCX |
| Year of Incorporation | 2012 | 2021 |
| Number of Branches | 4 | 1 |
Upstox Vs Dhan – Charges & AMC
| Feature | Upstox | Dhan |
|---|---|---|
| Trading Account Opening Charges | Rs 0 (Free) | Rs 0 (Free) |
| Trading Account AMC Charges | Rs 0 (Free) | Rs 0 (Free) |
| Demat Account Opening Charges | Rs 0 (Free) | Rs 0 (Free) |
| Demat Account AMC Charges | Rs 150 | Rs 0 (Lifetime Zero AMC) |
Upstox Vs Dhan – Brokerage Charges
| Account Type | Upstox | Dhan |
|---|---|---|
| Equity Delivery | Rs 20 per order or 2.5% (whichever is lower) | Rs 0 |
| Equity Intraday | Rs 20 per order or 0.05% (whichever is lower) | Rs 20 or 0.03% of trade value (whichever is lower) |
| Equity Futures | Rs 20 per order or 0.05% (whichever is lower) | Rs 20 or 0.03% of trade value (whichever is lower) |
| Equity Options | Rs 20 per executed order | Rs 20 per executed order |
| Currency Futures | Rs 20 per executed order | Rs 20 per executed order or 0.03% of trade value |
| Currency Options | Rs 20 per executed order | Rs 20 per executed order |
| Commodity Futures | Rs 20 per executed order | Rs 20 or 0.03% of trade value (whichever is lower) |
| Commodity Options | Rs 20 per executed order | Rs 20 per executed order |
Upstox Vs Dhan – Leverage (Margin)
| Feature | Upstox | Dhan |
|---|---|---|
| Equity Delivery | 100% of trade value (1x leverage) | 100% of trade value (1x leverage) |
| Equity Intraday | Up to 20% of trade value (5x leverage) | Up to 20% of trade value (5x leverage) |
| F&O (Eq, Curr, Comm) | 100% of NRML margin (1x leverage) | 100% of NRML margin (1x leverage) |
Upstox Vs Dhan – Features
| Feature | Upstox | Dhan |
|---|---|---|
| 3 in 1 Account | No | Yes |
| Charting | Yes | Yes |
| Automated Trading | Yes | Yes |
| Trading Platform | Upstox Pro Web, Dartstock, NEST Trader, Fox Trader, Mobile Apps | Dhan App, Dhan Web, Options Trader, TradingView Console, DhanHQ API |
| Intraday Square-off Time | 3:00 PM | 3:20 PM |
Upstox Vs Dhan – Investment Options
| Feature | Upstox | Dhan |
|---|---|---|
| Stock / Equity | Yes | Yes |
| Commodity | Yes | Yes |
| Currency | Yes | No |
| IPO | Yes | Yes |
| Mutual Funds | No | Yes |
| Bond / NCD | No | Yes |
Upstox Vs Dhan – Pros and Cons
Upstox Pros:
- Zero account opening fee.
- Zero brokerage for mutual funds.
- Flat Rs 20 per trade for all segments.
- Offers direct mutual funds.
- Good-Till-Triggered (GTT) orders available.
- Offers Margin Trading Facility (MTF).
Upstox Cons:
- Rs 20 brokerage on equity delivery trades.
- No 3-in-1 account option.
- No stock tips or recommendations.
- Higher Demat Debit Transaction charges (Rs 18.5 per ISIN).
- Call & Trade is charged at Rs 20 per order.
Dhan Pros:
- Free account opening & AMC-free demat account.
- Zero brokerage on equity delivery trades.
- Advanced trading platforms like TradingView Console, DhanHQ API.
- Offers 3-in-1 account (for ICICI Bank users).
Dhan Cons:
- No brokerage-free unlimited trading plans.
- Call & Trade charges Rs 50 per order.
- No research reports or stock recommendations.
Conclusion
Both Upstox and Dhan offer competitive pricing and features tailored for different investor types. Upstox is ideal for active traders looking for robust platforms, while Dhan stands out for zero brokerage on equity delivery and its 3-in-1 account facility. Choose based on your trading style and preferences.