Fyers Vs Dhan – Comparison To Find Who Is Better Stockbroker

  • Post category:Stock Market
  • Reading time:29 mins read
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  • Post last modified:May 16, 2023

If you looking for trading and investing in stock market than this fyers vs dhan review and comparison will certainly going to help you in choosing the right stockbroker for you trading and investing journey. But why one would even choose this 2 stock brokers dhan and fyers as they seem to be somehow new in the industry at first place.

It is because believe me or not but Fyers and dhan both have evolve as some of the best stockbrokers in the current league.

Both are giving the tough competition to Zerodha and Upstox in terms of best trading platform, lowest brokerage structure, better investing features etc. 

Yes, we will going to discuss and compare the Fyers vs Dhan on all parameters such as brokerage, web/desktop based trading platform (Dhan App vs Fyers Mobile App), account opening charges, customer service, margin and lot more products and services both stock broker offers to its clients, but another thing to learn about is entrepreneur skills.

The reason I am saying that is because both the companies Dhan and Fyers is very new to stock broking industry but they have made a significant place where we have more than 250+ sock brokers as per the latest NSE data.

But before we begin let me brief you about a quick fact about both stock brokers i.e. the number of active clients and total clients as of according to the latest NSE Data.

Fyers with more than 2,54,254 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. Looking at this number it does shows the trust they have created for users in their products and services.

Trust me after experiencing the dhan and fyers broker service I am very much certain that they will make a place to be in the top 5 stock broking company in India very soon.

Just to let you know, you can read the detailed review of Fyers Broker here, similarly checkout the complete Review of Dhan here.

So without further delay, let us start first with Fyers vs Dhan overall review in 17 brief points and later below you can check them in detailed guide if you want.

Just to let you know the post may be little long as it covers all aspects of the Dhan and Fyers stock broker in detail, you can move through table of contents for the info you are looking.


Fyers Vs Dhan Overall Comparison:

I have already used both stock broker services as well as wrote the reviews about them in detailed way separately, based on my experience and facts below are things you can consider before opening an account with them.

  1. Fyers and Dhan both have fantastic trading platform for Web/mobile app, you can do fundamental as well as technical analysis quite easily.
  2. Fyers also offers a downloadable trading platform version by name Fyers One but Dhan do not have this as of now. On the other hand dhan have a dedicated option trading platform (Web + App) which is not available at Fyers.
  3. Recently 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 Fyers.
  4. Whereas Fyers runs their own Thematic Investment platform for users to invest in portfolio based investment.
  5. Dhan also 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 and this feature is not available with fyers.
  6. 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 and this is not available with Fyers.
  7. 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 Fyers.
  8. 1Cliq by oipulse is integrated with Dhan which helps fast traders to identify trends especially scalpers. You can have trade execution with pre defined SL, auto Trailing SL, MTM target and stop loss are some of it’s amazing features which is not available with Fyers.
  9. Fyers and Dhan both are charging equal brokerages as they charging Rs.20 or 0.03% (whichever is lower) per order.
  10. Fyers and Dhan both also gives free delivery based trades moreover with dhan you also get another 50% brokerage off for women’s.
  11. Fyers and Dhan both offers mutual fund investment i.e. SIP in stocks and ETF.
  12. You can Invest and trade in all segments at Dhan as well as Fyers broker i.e. Equity (Stocks), FNO, Commodity, Currency on NSE, BSE & MCX.
  13. Account opening charges as well as AMC (Annual Maintenance Charges) is Zero for Dhan for a limited time period.
  14. For a limited time period you can open a Free trading/demat account with Zero AMC charges at Fyers here, although they do charges one time account opening fee of Rs.300 and Rs.400 p.a. for AMC (Annual Maintenance Charge) at the year end.
  15. Other than this you can make investment in Initial Public Offerings (IPO), Sovereign gold bonds (SGB), NFO’s, Bonds and many different financials service with both stockbrokers.
  16. If we talk about Margin at Dhan vs Fyers, after SEBI Rules on Intraday margin every stockbroker is giving same margin 5X throughout India, hence this does not matter anymore.
  17. Hence, both stockbrokers are offering great features and service at a very low cost. Moreover, there are nothing you are loosing both in terms of features as well as money. Having said that Overall, I find Dhan better than Fyers looking at all the features, robust trading platform and cost effectiveness.


You can Open a free Dhan trading/demat account with Zero AMC when you open through this link.

Open Free Trading/Demat/Mutual Fund Account With Fyers Online Within minutes with no AMC for a limited time period here.

Now, let us go dive deep to cover all different services and features of Dhan and Fyers step by step and see who is best between both discount brokers by doing in depth analysis.


About Fyers Vs Dhan:

Before we dig deeper to understand the various services offered it becomes utmost import to know in brief about Fyers and Dhan history.


dhan broker logo


Dhan Stock broker made their entry in one of the highly competitive broking industry last year in September 2021. Pravin Jadhav who was also the former Paytm Money CEO is the CEO of Dhan. Dhan is backed by leading investor such as MIRAE ASSET, BEENEXT, BLUME, 3ONE4 CAPITAL, Social Leverage etc.

Dhan is SEBI Registered (INZ000006031) online stock broker offering trading on all exchanges (BSE, NSE, MCX) and across all segments (equity, exchange-traded funds, futures, options, currency, commodities). Dhan have partnered with CDSL for depository services.

The company is registered by the name Moneylicious Securities Private Limited and have corporate office in, Borivali East, Mumbai, Maharashtra.

About Fyers Vs Upstox:

Established in Aug, 2015 fyers is a discount broker co-founded by Tejas Khoday, who is also the CEO of the company. Tejas khoday, does have an interesting background before founding the fyers. He has worked with Zerodha, a leading discount broker in India in 2011.

Of-course he has worked with several other companies after that and also as an investment advisor, managing portfolios and advising clients on various investment.

Fyers is registered at SEBI by Fyers Securities Pvt. Ltd, headquartered in Bangalore and member of all three major exchanges, NSE, BSE, MCX in India.

As of today fyers have more than 100,000+ clients and more than Rs.8000 Cr. Daily turnover across NSE, BSE & MCX within a span of just 5.5 years of launch.

Many say they will be going to give tough competition to zerodha in future looking at their growth and technological advancement in tools and resources.

After experiencing their services I have no doubt about the bright future of this company at all.


Fyers Vs Dhan Margin Comparison:

Margin in stock market refers to buying/selling of securities (shares) by borrowing money from your broker. This is very much similar to taking loan for short period of time. This helps traders in buying or selling more with less money in intraday trading.

If you are an active trader or a beginner who knows what exactly going on with recent changes brought by SEBI, Higher Margin won’t be a factor anymore, now the competition among the broking industry is in terms of better trading platforms and lower brokerages plans.

The upfront margin collection in cash segment has been kept at flat 20%, which means now the leverage for all stocks would be 5x also the penalty provision for short-collection/ non-collection of upfront margin in cash segment.

This means regardless of any broker you won’t get more than 5X times margin in equity cash segment and in FNO you need to have the full margin span+exposure to take any position.

You can read more about it here.

Therefore, the margin or leverages offered will be equal irrespective of the stock brokers in India going forward. Keep in mind this also applies to Currency and commodity derivatives as well.

For example: if there is a 20% margin requirement on a particular stock, then you will have to pay only Rs.20 to buy a stock of Rs.100. Another way to look at it is that if you have Rs.100, you will be able to buy five stocks instead of one.

Hence, the margin requirement will be same for all brokers including Dhan and Fyers for intraday trading in equites and derivatives.

One need to understand taking more margin means more risk and chances of your money getting wiped out is even more, so it is always advisable to use it in limited way.

So going forward please choose stock broker not in terms of margin or leverage as it is same for all brokers through out India.

You can Open a free Dhan trading/demat account with Zero AMC when you open through this link.

Open Free Trading/Demat/Mutual Fund Account With Fyers Online Within minutes with no AMC for a limited time period here.


Fyers Vs Dhan Brokerages Comparison:

Brokerage is the most important factor when you trade and invest, both Fyers and Dhan have quite low brokerages. Let us know brokerage for both discount brokers one by one.

Fyers Brokerage Structure:

Fyers charge no brokerage for equity delivery based trades as well as zero charges for any investment in pre-build portfolios which is called as thematic investing at fyers. We will later discuss about the thematic investing.


Fyers Review On Brokerage


Whereas for intraday trades across equity, currency futures, commodity futures, it is Rs.20 or 0.03%(whichever is lower).

What they mean is, suppose you bought stock xyz priced at Rs.100, quantity 100 on intraday basis,

so the total turnover would be bought 100, sold 100(100*200)=  20,000 on this amount they will charge either whichever amount is lower as 0.03% of 20000, is Rs.6 so they will charge that instead of flat Rs.20.

Dhan Brokerage Structure:

Brokerage charge at Dhan is very low, there is no charge for taking delivery of the trades to your demat account. Whereas for intraday trades across equity, currency, commodity, it is flat Rs.20 or 0.03%(whichever is lower) and for options segment it is Rs. 20 per order.


Dhan Review On Brokerages:


So, overall the brokerage charges for both stock brokers are kept at quite decent priced considering the broking industry norms.


Fyers Vs Dhan Account Opening Charges:

There are no account opening charges as of now with dhan for a limited time period. You can open dhan trading and demat account with zero AMC (Annual Mainenetance Charges).

  1. ₹0 Demat Account Fees
  2. ₹0 AMC
  3. ₹0 Platform Fees
  4. ₹0 Brokerage for Delivery Trades
  5. ₹20 per order for Intraday Trades
  6. ₹10 per order for Intraday and F&O Trades for all women investors on Dhan


If we talk about Fyers there are no Account opening charges at Fyers for a limited time period 

However AMC (annual maintenance charges) of ₹ 300 + GST will be levied per annum.

This amount will be debited from your Trading Account Ledger on a quarterly basis. Each quarter, an amount of ₹75 + GST (₹88.5) will be debited from your FYERS account.

Recently, Fyers is not charging even for AMC for a limited time period.


Fyers Vs Dhan Online Account Opening Process:

The account opening process is online and it’s very seamless and smooth. Here is what you need to do:

To open an account with Dhan online, you can sign up using your mobile number through this link.

Similarly, To open an A/c online with Fyers , Click on this link and first enter your mobile number.

You will receive an OTP to your number and you can get started with the process.

You will be required to enter your PAN, Bank account details and personal details to continue with the sign-up.

Once you sign up you need to upload certain documents listed below:

1. Your PAN card

2. Your Aadhaar

3. To complete the e Sign process, you will have to authenticate it with an OTP. So, make sure you have the number linked to your Aadhaar handy. If not, you will not be able to complete the process. If the number linked to your Aadhaar is inactive, or if you don’t have any number linked, then you can visit your nearest Aadhaar Seva Kendra to get it updated.

4. A photo or scanned copy of your signature proof will be required to be uploaded.

6. Income proof – It is mandatory to submit income proof if you wish to trade in Futures and options – Equity, Commodity, and Currency.

You can submit one of the below documents.

  • Form-16
  • Income tax returns acknowledgment
  • 6-month Bank statement
  • Latest salary slip
  • Demat holding statement, or
  • A CA certifying your net worth

Note: The documents mentioned are for a Resident Individual Account.


Fyers Vs Dhan Trading Platform Comparison:

The most important part of any trading platform is the tools and resources it has for technical and fundamental analysis. If we talk about Dhan first below is what you can expect as an trader and investor:

Dhan have 3 trading platform for all devices known as:

  1. Dhan App for Mobile
  2. Dhan for desktop web version
  3. 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 it may sound little exaggerated but it 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.


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 a Free Dhan trading/demat account with Zero Annual Maintenance Charges online here


dhan free account opening


Let us now check Fyers trading platform in comparison to Dhan in a detailed way:

Fyers Trading Platform: 

Fyers have one of the best trading platforms for traders and investors in India, in this section we will discuss all the trading platforms by looking inside them and seeing how they function. Fyers have three major trading platform

FYERS ONE – It is a desktop based trading platform, which means you can download the software and can install it on you PC or laptop. You can use it by logging in through client id and password given after account opening.

FYERS WEB – It is a 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.

FYERS MARKETS – It is a mobile based app,  you can use and place your trades in mobile itself instead on logging to your desktop or laptop.

Let us see Fyers web based trading platform and it’s functionalities.

Fyers web 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.

Let us know more about it.


FYERS Web Based Trading Platform


As, you can see in the image above fyers web design is clean and compact, they have tried to keep everything simple and on a click.

On right you see watch-list, which you can create or use predefined list as given below:


FYERS Web Based Trading Platform


There are lot of thing you can do just by a click look at the image below if you right click on chart of any stock or index it gives you lot of options.


Fyers Review On Margin Brokerages Trading Platform - Complete Guide 2020


I have checked the fundamentals of a HDFC Bank, so if you are doing investing for a long term no need to go to any other website all the major information will be available within the trading platform.


FYERS Web Based Trading Platform


This is for technical analysis, for intraday and short term traders, you can see probability of a stock to move in which direction and than can make a concrete decision for placing your trades.


Fyers Review On Margin Brokerages Trading Platform - Complete Guide 2020


As the different charting tools and indicators in fyers one similarly all the major, minor indicators are present, Moreover you can popup the chart and do your analysis on a different tab.


Fyers Review On Trading Platform


Want to draw trend-lines or mark any important area, draw with the resources given on the left of the chart and apply them.


Fyers Review On Trading Platform


Open Free Trading/Demat/Mutual Fund Account With Fyers Online Within minutes with no AMC for a limited time period here.

Overall Dhan in comparison to Fyers 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.


Fyers Vs Dhan Other Charges Comparison:

Call and Trade Charges At Dhan?

Dhan do not have any charges for you when you call Dhan Customer Care, however for call and trade at dhan you will be charged Rs 50 + GST per order placed through Dhan trade desk.

Call and Trade Charges At Fyers?

Fyers offers you to place order by call and trade which will be charged Rs.50 per order through phone and you can modify an order as many times you want to during a day.

Auto squared off charges by Fyers Vs Dhan?

The charges are INR 20/order + GST for auto square off at dhan and Rs.50 per position open (intraday) excluding GST will be charged as auto square-off at Fyers, in case you do not do it by yourself from the trading platform.

What are Payment Gateway Charges at Dhan Vs Fyers?

There are no charges for payment gateway if making the payment through UPI and Net Banking at Dhan as well as Fyers.

Apart from above, the following types of charges are levied on your trades at every broker:

  1. STT– The Securities Transaction Tax is a direct tax levied on every purchase and sale of securities.
  2. Transaction charges– This is a charge levied by the exchange on every transaction placed.
  3. Clearing charges– This is a charge levied by the exchange for clearing the trade.
  4. GST– A Goods & Services rate of 18% is levied on every purchase and sale transaction of securities.
  5. State stamp duty– This duty is levied on the value of shares transferred and varies as per the individual state.
  6. SEBI turnover fees– This fee is charged by SEBI on the purchase and sale of all securities.



My Opinion On Dhan Vs Fyers:

I hope you have now thoroughly understood most of the services offered by Dhan and  Fyers, if you ask me in Dhan vs Fyers who is better?

Expressing my opinion in terms of all technological tools, advanced platforms, robust management, margin and brokerage:

I would rate Fyers 9.2 out of 10.

A company which is just 5.9 years old, have made itself a brand within this period. There are more than 250+ stockbrokers in India which are working from so long, but Fyers has created its own place.

This a significant example of how a startup should work, As I have already experienced the various services offered by fyers, I must say there are ahead in the race and will be in Best 5 stock broker position very soon.

Fyers has all services at one place and they offer free account opening so nothing to lose, You will not regret opening account with them at all.

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

On the other hand, if we talk about dhan stockbroker

According to the latest NSE reports  there are about 250+ 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 9.5 out of 10 and hence is better than fyers.

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.

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.

Also, do checkout moneycontain inflation calculator to know how much inflation make an impact on your savings and investment here.

Looking for fixed monthly income than Post office monthly scheme calculator can definitely solve your problem.

Want to know how much you need to save and invest in order to achieve your retirement goal, than do check moneycontain retirement goal calculator with inflation.

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.

This Post Has One Comment

  1. duke

    nice one brother

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