Dhan Vs Zerodha Vs ICICIDirect – Which Broker To Choose ?

  • Post category:Stock Market
  • Reading time:32 mins read
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  • Post last modified:March 21, 2024

‘All that glitters is not gold’ and the reason to say this you will find it in this comparison between Dhan Vs Zerodha Vs ICICIDirect. Here I am talking about Zerodha which many of new and experienced traders and investors think as a gold however it is no more a gold and we will find out why I am saying this below.

You will find out who is best stock broker among them by comparing different services such as brokerage, trading platform (downloadable, web version plus mobile app), account opening charges, customer service, margin and lot more products these stock broker offers to its clients.

Having said that if we talk about above brokers, Dhan and zerodha is a discount broker whereas ICICIDirect is a full-time broker, so to be honest comparing them on one scale can’t be the right thing to do.

However, they all are in same business and industry and functioning among same group of people, therefore a comparison can be made on the different services offered by them in every segment.

By the way if you want you can read the separate review of Dhan, zerodha and Icici direct by clicking on this links.(Dhan Review, Zerodha Review, ICICI Direct Review).

As per NSE data (The no. keep on changing) Zerodha is at no.1 position in terms of active clients, they have about 79,04,101 (7.9 millions),ICICIDirect have more than 52,44,625 ( 5.2 million) active clients whereas Dhan made their entry in one of the highly competitive broking industry in September 2021 and they have more than 1 million+ users who have installed their app from playstore.

I know the difference is very high but one need to know, Dhan established just 2.5 years ago, Zerodha almost 12 years and ICICIDirect 22 years but looking at this number does shows the trust dhan have created for users in their products and services.

Not only that you will be surprised to know that Dhan trading platform is one of the best web based trading platform I have personally seen, it may sound little exaggerated but dhan even beats the Zerodha trading platform due to the various features available under the same page such as technical, advanced option chain data, customised option strategy builder, fundamentals of company, financials etc.

Now without wasting further time lets us jump direct to comparison part of different features and services you can get from above three stockbrokers.

 

Dhan Vs Zerodha Vs ICICIDirect Charges Comparison:

Stock Broker
Account Opening Charges
Annual maintenance Charges (AMC)
Brokerage Charges
Free Delivery Trades
Zerodha
Rs.200
Rs.200 yearly
Rs.20 or 0.03% 
Yes
Dhan
Free
Free 
Rs.20 or 0.03% 
Yes
ICICIDirect 
Free
Rs. 300 (2nd year onwards, first year is free) 
Rs.20 unlimited per order (Neo Plan)
0.5%

 

As you can clearly see in the table above as far as account opening and AMC charges are concerned ICICIdirect and Dhan is almost free and hence can be counted as best money saving in comparison to zerodha.

Having said that, in day to day trades what really matters are brokerage, this is what you pay most of time when you place any trade. Zerodha, ICICIDirect and Dhan is undoubtedly tops the table with lowest brokerage in comparison to any other stockbrokers.

Moreover for equity delivery based trades zerodha an dhan does not charge any brokerage whereas ICICIDirect have a nominal 0.05% brokerage on total turnover for delivery based trades.

 

Stock Broker
Auto Square-Off Charges
Call N Trade Charges
MTF
Open A/C Now
Zerodha
Rs.50
Rs.50
No
Dhan
Rs.20
Rs.20
4x
ICICIDirect 
Rs.50
Rs.50
5X

 

Dhan gives Margin Trading Facility (MTF) for up to 4X leverage (75% funds) from Dhan for Equity Delivery trading. You can buy 950+ stocks and hold them for unlimited period of time.

ICICIDirect also gives 5x leverage in delivery based trades. However, Zerodha do not have this feature as of now.

So, overall Dhan stockbroker wins the race in terms of saving more money for you in comparison to Zerodha and ICICIDirect.

Let us now move on to compare the most important part for every trader and investor i.e. segments available and trading platform rating and features.

 

Dhan Vs Zerodha Vs ICICIDirect Trading Platform Comparison:

There are many forms of investing and trading in stock market in India, mainly there are three prominent stock exchanges:

  1. National Stock Exchange of India (NSE) Ltd.
  2. BSE Ltd. formerly known as the Bombay Stock Exchange Ltd.
  3. Multi Commodity Exchange of India Ltd.(MCX)

National Stock Exchange of India(NSE) and BSE Ltd. both deals in segment of market mentioned below.

  1. Equity
  2. Equity Derivatives
  3. Currency Derivatives (including Interest Rate Derivatives)
  4. Commodity Derivatives
  5. Debt

There are multiple segments or you can say financial products available just like a supermarket, apart from above you can invest and trade in ETF, Digital Gold, SGB, Bonds, Government securities(G-sec), IPO, OFS, Mutual funds, etc.

The reason I told you above is to be familiar with the financial products and then check various options available with stockbroker you are choosing, rather than just going by the hype.

In Zerodha vs Dhan Vs ICICIDirect there are many financial products are available take a look in below table:

Stock Broker
Trading/Investing Segments Available
Trading Platform Rating
Zerodha
NSE/BSE/MCX/Currency/FnO/IPO/Mutual Funds/ETF/SGB/Bonds/Gsec/OFS
4.4/5
ICICIdirect 
NSE/BSE/MCX/Currency/FnO/IPO/Mutual Funds/ETF/SGB/OFS/Gsec/ Bonds/NCD/FPO
4.6/5
Dhan
NSE/BSE/MCX/Currency/FnO/IPO/Mutual Funds/ETF/SGB/Bonds/Gsec/OFS
4.8/5

 

Below are the overall rating of dhan, Zerodha and ICICIDirect, which means if you consider all different features, charges, cost effectiveness, better user experience among them.

Stock Broker
Third party Integration
Overall Rating
Zerodha
Tickertape, Streak, Sentinel, Smallcase, Sensibull
9.1/10
ICICIDirect
Smallcase, Sensibull, Inbuilt screeners for technical and fundamental analysis
9.3/10
Dhan
Stratzy, customised Option Strategy builder  Smallcase, WealthBaskets, Tactic, 1Cliq
9.6/10

 

what makes any stockbroker trading platform better is the integration of various financials third party apps or inbuilt software’s.

Zerodha trading platform have partnered with third party service integration as well such as Tickertape, Streak, Refinitiv, Smallcase for portfolio based investments and, Sensibull for option based strategies.

On the other hand Dhan have also made tie up with smallcase for making portfolio based investment moreover they do have a stock recommendation tool as well which gives long term investment ideas known as Stratzy and this feature is not available with zerodha and fyers.

Dhan also offers another feature known as WelathBasket, it is a basket of stocks/ETFs, based on a strategy, theme or idea. WealthBaskets are professionally managed and help you invest in Stock Markets in a systematic way.

Dhan also have a dedicated option trading platform (Web + App) which is not available at Zerodha and ICICIdirect.

Very often traders who do not trade with option strategies may incur huge losses. Mostly because option strategies are complicated and require complex math’s. But with dhan latest tool has solved this problem and made options trading with pre-build strategies a lot simpler.

Last but not the least Dhan has also partnered with Tactic who provides Trade Ideas & Strategies of top SEBI registered traders in currently 3 modes – Intraday, Positional & BTST. This feature will greatly help the new as well as experience traders and is not available with Zerodha where as ICICIDirect has it’s own research team to give free recommendations to trade and invest both in equity and derivatives.

1Cliq by oipulse is integrated with Dhan which helps fast traders to identify trends especially scalpers. You can have trade execution with predefined SL, auto Trailing SL, MTM target and stop loss are some of it’s amazing features which is not available with Zerodha or Fyers.

You will be amazed to know that dhan trading platform is one of the best trading platform I have come across recently, which even beats zerodha trading platform in many aspect.

Talking about ICICIDirect they have dedicated platform for all three devices downloadable, web and mobile app with great technical and fundamental tools and resources.

ICICIDirect have also tied up with third party service such as Sensibull for ready made options trading strategies and Smallcase. smallcases are the easiest way to buy & manage multiple portfolios of stocks/ETFs.

You can invest in US Stocks such as Apple, Google, Amazon, etc. using ICICI Direct trading platform which is very unique feature offered to clients and is currently not available with dhan or zerodha.

In terms of research no one can beat ICICIDirect for sure. So if you do not know which strikes to choose and does not have any idea about different option strategies than simply place the free recommendation trades provided by them.

you can check and do research based on different filters available to find the best stocks to trade and invest in market such as below:

 

Similarly if you are someone who does not have time to research and invest than ICICIDirect gives free stock recommendation to it’s users everyday.
Now all these above features mentioned is also available under ICICIDirect markets mobile app. With 4.4 start rating on playstore the ICICIDirect mobile app is one of the best app currently.

ICICI Direct is much better for people who not only do intraday trade but make other investments, such as investment in ELSS, PPF, SIP’s, FD, RD, ETF’s etc., or looking for Loans or credit cards, Insurance etc. and these extra features are not available with either zerodha or dhan.

 

Stock Broker
Open Account Now
Zerodha
Dhan
ICICIDirect 

 

Having said that Zerodha in comparison to both dhan and ICICIDirect lacks behind in terms of more extraordinary features such as mentioned above.

To prove my point let us in brief review the web based trading platform for ICICIDirect Vs Dhan Vs Zerodha one by one.

 

Zerodha Trading Platform Review:

Zerodha is known for its best trading platform since inception, they have 3 dedicated platforms for its users:

  1. Zerodha Pi for desktop, which is a downloadable version
  2. Zerodha Kite for Web, which a browser based trading platform
  3. Zerodha Kite Mobile App, which a mobile App

Let us discuss Zerodha Kite which is a web or say browser based trading platform, which can be opened on any web browser you use. Just like a website but with all the tools and resources needed.

All zerodha trading platform are very secured, because of its 2 factor authentication, you need to enter the password and than a 6 digit pin to login. Once logged in you will see this page:

 

Espresso Vs Zerodha

 

On left hand you will see the market watch, from here you can add or delete the scrips. When you move and hover over any stock it will give you different option like charts, market depth, buy sell order and many more.

Below image shows when you click on to know the market depth, (just to let you only zerodha as of now have the facility for level 3 data), what it means, the market depth that you will see have more depth , usually most other brokers will show only 5 best bids but zerodha shows 20 data for buy and sell orders.

 

Zerodha Kite Web Based Trading Platform

 

Doing technical analysis at zerodha is a blessing, with all the necessary tool and free resources available at one place, one can create, back-test & deploy whatever strategy they want. Zerodha gives Trading View charts along with ChartIQ on both web and mobile application.

 

zerodha vs espresso

 

With zerodha kite platform you get the maximum no. of indicators you want in life. They are just one click away.

 

Charting tools and resources on Kite

 

You can display and use any type of chart with different candlestick patterns

 

Zerodha Review On Margin Brokerage Trading Platform- Best Ultimate Guide 2020

 

You can also draw trend-lines, Fibonacci arc, cross-line on the chart itself.

 

Zerodha Kite Web Based Trading Platform

 

To open an account with Zerodha right away click on this link.

 

Dhan Trading Platform Review:

Dhan have 3 trading platform for all devices known as Dhan App for Mobile, Dhan for desktop web version and dedicated option trading platform (Web + App) by dhan.

It is not possible to review all of them under one post however, will review the dhan web version trading platform and as the functionalities and features remains same across different version hence it does not matter.

Dhan web or say browser based trading platform, which can be opened on any web browser you use. Just like a website but with all the tools and resources needed.

Honestly, this is one of the best web based trading platform I have personally seen due to the various features available under the same page such as technical, advanced option chain data, customised option strategy builder, fundamentals of company, financials etc.

 

Dhan Review On Trading Platform

 

On left hand you will see the market watch, from here you can add or delete the scrips. When you move and hover over any stock it will give you different options.

 

Dhan Review On Trading Platform

 

If you know how to trade options then all the important details such as option chain, option delta, option moneyness etc. is easily available for you.

 

Dhan Review On Trading Platform

 

With Dhan platform you get the maximum no. of indicators you want in life. They are just one click away.

You can display and use any type of chart with different candlestick patterns

Whether you want to use:

MACD indicator

Bollinger Bands indicator

RSI indicator

Volume Indicator

Support and Resistance indicator and many others

 

dhan broker charts

 

Dhan gives Trading View charts along with ChartIQ on both web and mobile application. Different Candlestick patterns etc. you name the indicator and it will be there.

 

dhan order type

 

As, you can see in the above image of order window, you can place different types of orders in intraday trading, if you select the option delivery, it will give you the option to place different order for delivery.

You can add- withdraw funds directly, create or back-test trading strategies use DHAN API to trade and lot more.

The user interface is so clean and up to the mark, you can easily know which icon will do what, as the moment you will hover to any it will tell you the functionality of it.

So all in all Dhan trading platform has everything what is needed for a hassle-free trading platform.

Open Free dhan trading and demat account with Zero AMC (Annual Mainenetance Charges) 

 

ICICI Direct Trading Platform Review:

ICICI direct have three trading platforms

  • Web based trading platform : Trade Racer web
  • Desktop based trading platform : Trade Racer
  • Mobile trading platform: ICICI Direct Markets mobile app

It is not possible for me to discuss all three of them individually in a single post, moreover the features remains same across all trading platform versions hence we would be knowing in brief about the Trade racer Web version and ICICIDirect Markets mobile app.

Let us know more about them:

With Trade Racer, you get the following benefits:
ICICI Direct Review On Trading Platforms
As you can see in the image above when you login to the web version of ICICIDirect trading terminal you will get ample options to trade, invest, take loan, insurance, submit tax, do research etc.
I won’t be able to explain each and every features however, will discuss in brief about the important ones and one of the most important feature is one click equity by ICICIDirect.
If you are someone who does not which stocks to invest in then one click equity is the tool you will need. One Click Equity gives you the convenience of investing, monitoring and exiting research-recommended stock baskets at a single click.
You can diversify your investments in theme based basket of stocks and ETFs handpicked by ICICIdirect Research Team.
Now coming back to trading ICICIDirect have a very user friendly interface. It allows you to check your stock’s status in real-time. See live Profits and Loss monitoring, predefined and personalized watch lists.
Choose between light, dark & black themes as per preference
There are more than 100 indicators with every type of candlestick patterns available to do technical analysis. You can access charts by Trading View and Chart IQ on-demand.
Incase if you want to check the fundamentals of any stock you just need to click on it and it will give you all important parameters you need it before making your decision.
If you are looking for screeners than ICICIDirect have multiple filters to find out the list of different stocks under different categories. Check out the images below to find out more:
Now apart from trading and investing in equity if you are someone who do trades in FnO or other derivatives then ICICIDirect should be your first choice as a broker.
You can view the Option Chain (OI) with integrated OI graphs for an in-depth analysis of your F&O and commodity trades. Moreover they have also tied up with Sensibull for ready made options trading strategies.
Flash trades order window is another option available if you to bulk trading in options.

 

You can also place the trades directly from the chart while doing technical analysis under flash trades.

 

 

In terms of research no one can beat ICICIDirect for sure. So if you do not know which strikes to choose and does not have any idea about different option strategies than simply place the free recommendation trades provided by them.

 

Apart from above features you can check and do research based on different filters available to find the best stocks to trade and invest in market.
For people who majorly invest in IPO’s but does not know whether to invest in upcoming ones then ICICIDirect gives free IPO research report. One can make quick decision after checking such reports whether to invest or leave it.
Similarly if you are someone who does not have time to research and invest than ICICIDirect gives free stock recommendation to it’s users everyday.
Now all these above features mentioned is also available under ICICIDirect markets mobile app. With 4.4 start rating on playstore the ICICIDirect mobile app is one of the best app currently.

Open your ICICI direct bank, Trading & Demat A/C Free With NEO Brokerage plan here

Now if we compare Zerodha vs ICICIDirect Vs Dhan in overall terms then ICICIDirect and Dhan in comparison to Zerodha trading platform offers much better user interface as well as they have many other services integrated under one page which makes it very easy to find all resources at one place rather than opting for a paid subscription with a third party platform.

Stock Broker
Open Account Now
Zerodha
Dhan
ICICIDirect 

 

Dhan Vs Zerodha Vs ICICIDirect which is better?

ICICIDirect and Dhan both are better than Zerodha If we do a overall comparison of various charges, features hence I would advise anyone to go with either ICICIDirect or dhan and avoid Zerodha as of now.

Expressing my opinion in terms of all technological tools, advanced platforms, robust management I would rate Zerodha 9.1 out of 10. 

To open an account with Zerodha right away click on this link.

According to the latest NSE reports  there are about 300+ stock brokers in India, however what makes Dhan a leading and strong contender in the stock broking industry is the tools and resources they have in their trading platform.

Moreover there are no hidden charges and the brokerages are very minimal if we do the industry comparison. They are also backed by cash enriched investors so nothing to fear.

If I have to rate Dhan broker after looking at there breakthrough pricing model for brokerages as well as other charges and experiencing there simple yet great user interface for trading platform I would give it 9.6 out of 10.

I am still being harsh as it is a new company, but you may see the ratings may go higher with time in my opinion.

So if you are thinking of opening a trading/demat/mutual fund combined account, than do not put any second thought, go ahead and Open Free dhan trading and demat account with Zero AMC (Annual Mainenetance Charges) there is nothing to lose its a win-win deal.

Expressing my opinion in terms of all technological tools, advanced platforms, robust management, margin and brokerage, I would rate ICICIDirect 9.4 out of 10.

What makes ICICI direct different from other is the strong hold and backup from ICICI Bank, India’s top private bank. Other than this there are no charges to open an account so nothing to lose.

Secondly, the kind of technological advancement in there trading platforms, apart from this they also offer PMS (portfolio management services), insurance, loans, gold investment, research advisory, mutual funds and lot more.

There is no better broker you can get apart from ICICIDirect as an full-time broker.

So, go ahead and open an free ICICIDirect account now here.

I hope you above comparison between these stockbrokers have certainly helped you to choose the right broker for you. I wish you all the best for your financial journey ahead.

If, you have liked the content please do share it with your friends or on social media, as sharing do bring the good karma. If you have any questions or feedback you can leave them in comment box below.

If you are a beginner in trading and investing, please read this amazing guide on How stock market works in India?

Learn the basics of option trading step by step here.

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Note: Please do your own research and make investment. Moneycontain will not be responsible for any of your losses at all. The point made is for educational purpose only and intended to give information. All investments are subject to risks, which should be considered prior to making any investments.

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