Upstox Vs Dhan – Comparison Of Charges, Brokerages, Margin, App

  • Post category:Stock Market
  • Reading time:26 mins read
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  • Post last modified:November 10, 2022

In this Upstox Vs Dhan broker comparison, we will find out who is best stock broker among both by comparing different services such as brokerage, web/desktop based trading platform (Dhan App vs Upstox Pro App), account opening charges, customer service, margin and lot more products and services 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 number of active clients and total clients according to the latest NSE Data.

Upstox is at no.2 position in terms of active clients in India recently they outpaced major banking full time brokerage ICICIDirect far behind the only competition as of now is Zerodha, they have about 68,27,803 (6.8 millions) whereas Dhan made their entry in one of the highly competitive broking industry last year 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 1.1 years ago but looking at this number does shows the trust they have created for users in their products and services.

Whereas Upstox established in year 2012 and rest is history. Upstox have made significant changes indeed required in the stock broking industry with their tech innovation.

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

So without further delay, let us start first with Upstox Vs Dhan overall review in 14 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 Upstox stock broker in detail, you can move through table of contents for the info you are looking.

 

Upstox 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. Upstox and Dhan both have fantastic trading platform for Web/mobile app, you can do fundamental as well as technical analysis quite easily.
  2. Dhan have a dedicated option trading app which is not available at Upstox.
  3. Upstox have tied up with other third party financial services platform such as Sensibull, Smallcase, Tickertape, Streak, Refinitiv which is not available at Dhan although they did recently have also made tie up with smallcase as of now.
  4. Dhan brokerages are lower than Upstox, Dhan are charging little lower as they charging Rs.20 or 0.03% whereas Groww is charging Rs.20 or 0.05% (whichever is lower).
  5. Upstox and Dhan both also gives free delivery based trades moreover with dhan you also get another 50% brokerage off for women’s.
  6. Upstox and Dhan both offers mutual fund investment i.e. SIP in stocks and ETF.
  7. You can Invest and trade in all segments at Dhan as well as Upstox broker i.e. Equity (Stocks), FNO, Commodity, Currency on NSE, BSE & MCX.
  8. Upstox do send free market reports everyday at the market end for analysis there is no such service with Dhan as of now.
  9. Upstox also gives Margin Trading Facility for up to 2X leverage (50% funds) from Upstox for Equity Delivery trading or buying certain stocks and holding them and these is not available at dhan.
  10. Upstox do charges one time account opening fee of Rs.199 and Rs.25 p.m. for AMC (Annual Maintenance Charge) at the year end. However you can open a Free Upstox account with Zero AMC charges for a limited time period through this link.
  11. Account opening charges as well as AMC (Annual Maintenance Charges) is Zero for Dhan for a limited time period
  12. 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.
  13. If we talk about Margin at Dhan vs Upstox, after SEBI Rules on Intraday margin every stockbroker is giving same margin 5X throughout India, hence this does not matter anymore.
  14. Overall, Upstox may seems to have an edge over dhan but with Dhan there are nothing you are loosing both in terms of features as well as money. Moreover as there are less number of clients the customer service will be much better than Upstox for the users.

 

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

To open a Free Upstox trading/demat/mutual fund account with Zero AMC Charges click on this link.

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

 

About Upstox Vs Dhan:

Before we dig deeper to understand the various services offered it becomes utmost import to know in brief about Upstox 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 Upstox Vs 5Paisa:

 

RKSV Securities later changed to Upstox was founded in 2011, it was founded by Ravi Kumar, Raghu Kumar and Shrinivas Viswanath. RKSV stands for the initials of their names (RK for Ravi and Raghu Kumar and SV for Shrinivas Viswanath) later in 2016 the name has been changed to Upstox.

Upstox is backed by none other than Ratan Tata, Kalaari Capital, GVK Davixa and Tiger Global, recently they have announced building technology and platform to trade in US markets as well by next year. Upstox is a SEBI registered discount broker and member of NSE, BSE, MCX.

You can trade and invest in different segments such as Equity, Derivatives, Commodity, Currency Futures, Mutual Funds, IPOs. They are depository participant (DP) for both NSDL and CDSL.

As I have already told you they have more than 6.8 million active client base and total client is near about 10 million which makes them one of the reliable and best brokers for both trades and investors.

There office is registered at New Delhi and also has a correspondence office in Mumbai.

Upstox have also officially partnered with IPL 2021-22 and ICC T20 World cup, which certainly going to increase its brand value as well as will attract more clients to its user base.

Recently Upstox have announced building technology and platform to trade in US markets as well by end of 2022 this year.

Let us now move on to know the margin at Dhan Vs Upstox

To open a Free Upstox trading/demat/mutual fund account with Zero AMC Charges and get free Rs. 1000 brokerage credit click on this link.

 

Upstox 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 Upstox 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.

 

Upstox Vs Dhan Brokerages Comparison:

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

Upstox Brokerage Structure:

Let us know about the brokerage of upstox,

You pay ₹20 /trade* or 0.05% (whichever is lower) for Intraday trading in Stocks, Future & Option, Currencies & Commodities. Whereas no brokerage at all for delivery based trades.

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.

Moreover for investing in mutual funds there are no brokerage or commission is charged at upstox at all.

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.

 

Upstox 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 Upstox, as a limited period offer you can open an trading and demat account for free in upstox and also Get additional benefits with Upstox when you open an account through this link

  • Up to ₹20/order on Equity, F&O, Currency and Commodity
  • ₹0 demat account maintenance charge
  • ₹0 commissions on IPOs and Mutual Funds
  • ₹0 fund transfer charges via UPI

So, overall Dhan and Upstox both is best in terms of account opening prices as they are not charging for account opening of trading/demat/mutual funds.

 

Upstox 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 Upstox 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.

  • 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.

 

Upstox 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 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 if not beat it atleast equals the Upstox trading platform due to the various features available under the same page such as technical, option chain, 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

 

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

Upstox offers it clients upstox mobile app and upstox pro web version:

Upstox Pro Review:

As mentioned above upstox pro 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.

Instead of downloading the software you can simply open this in any browser and start your trading and investing.

Let us know more about it.

Upstox pro is a powerful drag and drop tool that can be easily customize and have more than 100+ technical tools studies, resources to do advanced technical analysis.

 

Upstox Pro Web Based Trading Platform

 

All the major indices are already mentioned in the left, so you no need to create a separate watch-list for them. Create a new watch-list or use pre- made watch-list easily.

You can Choose and use the best candlestick patterns or other different types of chart such as Renko chart, Bar chart etc.

 

upstox pro review

 

What is most important for a trader or investor is the technical analysis tools and resources in any trading platform.

Upstox Pro Web version has all the required charting and more than 70+ indicators indicators like major ones MACD, BOLLINGER BANDS, RSI, S&R, Volume etc.

 

upstox pro trading platform review

 

You can also directly withdraw or add funds to your trading account from platform.

 

upstox trading platform review

 

Overall the web based version at upstox have all the prerequisite required to best among its key competitor brokers, having said that I personally find Dhan trading platform better than upstox due to various features available under the same window.

 

Upstox 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 Upstox?

Upstox offers you to place order by call and trade which will be charged Rs.20+GST per order through phone and you can modify an order as many times you want to during a day.

Auto squared off charges by Upstox 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 Upstox, in case you do not do it by yourself from the trading platform.

What are Payment Gateway Charges at Dhan Vs Upstox?

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

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 Upstox Vs Dhan:

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

Upstox as an stockbroker has made its place in the Indian stock broker industry with their fast and efficient trading platforms, sophisticated charting software’s combined with speed and reliability as well ease of opening the account online paperless.

They are now at the top 2nd position in India for having the most active clients and can be trusted without any doubt.

The charges and brokerages are very much reasonable in comparison to other brokers, if you are thinking of opening a trading/demat/mutual fund, than do not put any second thought.

If I have to rate upstox overall as an leading discount broker I will give it 9.4 out of 10, So, go ahead and open an account now .

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

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.

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 9.3 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.

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

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.

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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