In this Groww vs Dhan Review and comparison, at the end we will find out who is best stock broker among both by comparing different services such as brokerage, web/desktop based trading platform (Groww App vs Dhan App), account opening charges, customer service, margin and lot more products both stock broker offers to its clients.
But before we begin let me brief you about a quick fact about both stock brokers i.e. the latest number of active clients and total clients according to the latest NSE Data.
Groww have about 2.8 million+, to be precise 28,51,472 active client list 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 1.5 years ago but looking at this number does shows the trust they have created for users in their products and services.
Trust me after experiencing the dhan 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.
So without further delay, let us start first with Dhan Vs Groww overall review in 18 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 Groww stock broker in detail, you can move through table of contents for the info you are looking.
Groww 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.
- Dhan have fantastic trading platform for Web/mobile app, you can do fundamental as well as technical analysis quite easily and in comparison to groww it is much better. Moreover, Dhan also have a dedicated option trading platform (Web + App) which is not available at groww.
- 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 Groww.
- 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 groww.
- 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 Groww.
- Dhan brokerages are lower than Groww, Dhan are charging lower as they charging Rs.20 or 0.03% whereas Groww is charging Rs.20 or 0.05% (whichever is lower).
- Dhan also gives free delivery based trades, Groww charges for these types of trades with Rs.20 or 0.05% (whichever is lower) with dhan you also get another 50% brokerage off for women’s.
- Groww and Dhan both offers mutual fund investment i.e. SIP in stocks and ETF.
- You can Invest and trade in all segments at Dhan i.e. Equity (Stocks), FNO, Commodity, Currency on NSE, BSE & MCX whereas with groww you can only trade and invest in stocks (equity) FnO at NSE & BSE, currency and commodity is in Beta (testing version) are yet to be launched
- With Groww you can make investment in Digital Gold, Fixed deposits, US stocks such as Apple, Amazon, Google etc. online using Groww platform whereas no such facility with Dhan as of now.
- Other than this you can make investment in Initial Public Offerings (IPO), Sovereign gold bonds (SGB), NFO’s, and many different financials service with both stockbrokers.
- If we talk about Margin at Dhan vs Groww, after SEBI Rules on Intraday margin every stockbroker is giving same margin 5X throughout India, hence this does not matter anymore.
- Call N trade facility is not available with groww as of now where as with dhan you can place orders over call.
- Account opening charges as well as AMC (Annual Maintenance Charges) is Zero for Dhan for a limited time period.
- Similarly, account opening charges as well as AMC (Annual Maintenance Charges) is Zero for Groww as well.
- There are no charges for payment gateway if making the payment through UPI and Net Banking at Dhan as well as Groww.
- 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 groww.
- 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 Groww.
- Overall, Dhan is better in comparison to groww for intraday traders as well as investors as the brokerage is very less, moreover the trading platform is best and available with all tools and resources in all versions.
Now, let us go dive deep to cover all different services and features of Dhan and Groww step by step and see who is best between both discount brokers by doing in depth analysis.
About Groww Vs Dhan:
Before we dig deeper to understand the various services offered it becomes utmost import to know in brief about Dhan and Groww history.
Harsh Jain is the Co-Founder & COO of Groww, he was also the product manager earlier with flipkart. Groww is based in Bangalore, Karnataka, Here is interesting fact about groww very few people know, the company use Groww as a brand name although it is registered by name Nextbillion Technology Private Limited.
Groww operates as an online investment platform and offers mutual funds, tax planning, investment management, and financial information services. As of now you can trade and invest in only stocks (equity), derivatives i.e. FNO, whereas Commodity, Currency segment is about to get launched.
Groww has partnered with CDSL to provide the depository services to clients. Groww offers trade execution facilities for equity cash segments on BSE and NSE.
Groww founded in 2016, and had initially started as a direct mutual fund investment platform for users. By the time they have crated immense popularity among users in the mid-2020s, Groww expanded its product offering to include Equity trading.
Groww is also backed by some of the well know investor companies such as Ribbit Capital, SEQUOIA, Combinator etc.
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.
Groww 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.
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 Groww and Dhan 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.
Groww Vs Dhan Brokerages Comparison:
Brokerage is the most important factor when you trade and invest, both Groww and Dhan have quite low brokerages. Let us know brokerage for both discount brokers one by one.
Groww Brokerage Structure:
At groww the brokerage charges are Rs.20 or o.o5% (whichever is lower) on every order executed.
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 0.05% of 20000, is Rs.10 so they will charge that instead of flat Rs.20. Below is the screenshot taken from Groww brokerage calculator for intraday trading.
Whereas brokerage charges if you do investment i.e. taking delivery of the stocks to your demat account or doing Buy today sell tomorrow (BTST) trades the brokerage charges are same as of above.
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.
So, overall the brokerage charges at dhan is quite low in comparison to groww in every segment.
Groww Vs Dhan Account Opening Charges:
To open a trading/demat account at Groww there are no charges Rs.0 if you open an account through this link, Whereas the Annual Maintenance charge (AMC) is also kept at Zero.
Moreover there is 0% commission charges for investing mutual funds through Groww Platform. As compare to other stock brokers, they may charge some AMC charges for maintaining the account yearly, whereas Groww is not charging anything, this makes them apart for sure.
Likewise, 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).
- ₹0 Demat Account Fees
- ₹0 AMC
- ₹0 Platform Fees
- ₹0 Brokerage for Delivery Trades
- ₹20 per order for Intraday Trades
- ₹10 per order for Intraday and F&O Trades for all women investors on Dhan
Groww 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 account with Groww online, you can sign up using your mobile number through this link.
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.
- 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.
Groww 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 Groww first below is what you can expect as an trader and investor:
The trading platform seems to provide great in-depth financial as well as technical analysis. There are 2 platform available at groww.
- Groww Web based Trading Platform
- Groww Mobile App for Android and OS
There are no desktop downloadable version available for trading as of now with groww.
The web based version at groww is quite clean and well designed, as the UI (user interface) looks dynamic and smooth. Talking in terms of what is unique about the platform specially in respect to trading and investing,
Groww platform offers great financial analysis for every stocks including the one listed in US (Nasdaq).
Checkout the image below to know more:
As, you can see in above image on left they have given the space for seeing charts sowing current trading price of stock in market, which includes candlestick charts with volumes patterns overtime, you can see the historical data. On the right side of the screen you can easily place the intraday or delivery trades in a click.
If you go downwards you can see other great financial insights such as performance of stock, other different brands of that company, About the company and lot more.
Company statistics such as, Profit & loss, balance sheet of company, cash flows, P/E ratio (price to earning), P/B ratio (price to book) Book value etc. are one click away on groww web based trading platform.
Now, I understand that Groww first being a investment platform for users have great financial information for users moreover if you are someone who loves doing intraday based trading it does requires technical indicators, tools and other resources, which at groww web based version is also available.
So, If you are someone who do trading and investing for short, medium or long term, Groww has everything in place for you.
Let us now check Dhan trading platform in comparison to Groww in a detailed way:
Dhan have 3 trading platform for all devices known as:
- Dhan App for Mobile
- Dhan for desktop web version
- 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, dhan trading platform 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 and is much better than groww 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.
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.
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:
Support and Resistance indicator and many others
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.
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 ad instantly, 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.
Overall Dhan in comparison to groww 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.
Groww 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 Groww?
There is no facility to place trades using calls as of now groww. You need to do that using the trading platform or APP provided by groww by your own as of now.
Auto squared off charges by Groww 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 groww, in case you do not do it by yourself from the trading platform.
What are Payment Gateway Charges at Dhan Vs Groww?
There are no charges for payment gateway if making the payment through UPI and Net Banking at Dhan as well as Groww.
Apart from above, the following types of charges are levied on your trades at every broker:
- STT– The Securities Transaction Tax is a direct tax levied on every purchase and sale of securities.
- Transaction charges– This is a charge levied by the exchange on every transaction placed.
- Clearing charges– This is a charge levied by the exchange for clearing the trade.
- GST– A Goods & Services rate of 18% is levied on every purchase and sale transaction of securities.
- State stamp duty– This duty is levied on the value of shares transferred and varies as per the individual state.
- SEBI turnover fees– This fee is charged by SEBI on the purchase and sale of all securities.
My Opinion On Groww Vs Dhan:
I hope you have now thoroughly understood most of the services offered by Groww and Dhan, if you ask me in Groww vs Dhan who is better?
Groww might be new in discount broking industry, but they do have more than 5 years of experience in providing a rich platform for users to invest in mutual funds scheme.
As we already saw they have more than 28 lakh+ active clients in stock broking and 10 million + overall clients on the platform, this itself shows the trust it has developed among the users.
In my opinion they still need to do a lot to fulfill all the stock broking requirements such as allowing, currency and commodity trading.
Having said that, I like their USP of allowing clients to invest in US, their strength in financial data for fundamental analysis, Free mutual funds investments.
If I have to rate Groww 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 8.7 out of 10.
There are no charges to open an account with groww plus no AMC plus No commission on mutual funds, so without any doubt one can open a demat and trading account.
On the other hand
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.
Expressing my opinion in terms of all technological tools, brokerage structure, advanced platforms, robust management I would rate Dhan 9.5 out of 10 and hence is much better than Groww in overall comparison.
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.
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