Zerodha Vs Dhan Vs Upstox – Find Out Who Is Winning The Race?

  • Post category:Stock Market
  • Reading time:25 mins read
  • Post author:
  • Post last modified:January 26, 2023

This Zerodha Vs Dhan Vs Upstox comparison will certainly going to help you in choosing the right stockbroker for you trading and investing journey. You will find out who is best stock broker among them by comparing different services such as brokerage, trading platform (Dhan App vs Kite App Vs Upstox App), account opening charges, customer service, margin and lot more products these stock broker offers to its clients.

Zerodha is at no.1 position in terms of active clients, they have about 66,04,501 (6.6 millions), Upstox with 58,22,161 clients is at second position 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 google 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.

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 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.

 

Zerodha Vs Dhan Vs Upstox 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
Upstox
Free
Free
Rs.20 or 0.05%
Yes

 

As you can clearly see in the table above as far as account opening and AMC charges are concerned Upstox 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 and Dhan is undoubtedly tops the table with lowest brokerage in comparison to Upstox.

Moreover for equity delivery based trades all three of them does not charge any brokerage.

 

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
Upstox
Rs.50
Rs.50
2x

 

Margin Trading Facility feature is available with upstox they give up to 2X leverage (50% funds) from Upstox for Equity Delivery trading or buying certain stocks and holding them.

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.

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 Upstox.

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.

 

Zerodha Vs Dhan Vs Upstox 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 Upstox 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
4.6/5
Upstox
NSE/BSE/MCX/Currency/FnO/IPO/Mutual Funds/ETF/SGB/Digital Gold
4.5/5
Dhan
NSE/BSE/MCX/Currency/FnO/IPO/Mutual Funds/ETF/SGB/Bonds/Gsec
4.7/5

 

Below are the overall rating of dhan, Upstox and zerodha, 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
9.6/10
Upstox
Tickertape, Sentinel, Smallcase, Sensibull
9.4/10
Dhan
Stratzy, Smallcase, WealthBaskets
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.

Upstox have tied up with other third party financial services platform such as Sensibull, Smallcase, Tickertape, Streak, Refinitiv but apart from that they have a tool which gives you read made option strategies to execute.

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 upstox latest tool has solved this problem and made options trading with strategies a lot simpler.

Key Features:

  • Pre-curated strategies in NIFTY and BANK NIFTY
  • Helpful insights – profit probability, maximum P&L, and funds required
  • Interactive pay-off graph to know ‘take-home’ amounts at different levels
  • Strategy orders grouped as one to easily track P&L of the entire strategy

Ready-made Option Strategies is available only on the new Upstox app. Upstox is the first broker to have an in-app options trading tool that provides ready-made option 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.

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 Upstox and this feature is not available with zerodha and upstox.

Dhan also have a dedicated option trading app which is not available at Zerodha and Upstox.

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.

Whereas upstox in comparison to both dhan and zerodha lacks behind in terms of doing more of fundamental analysis.

Stock Broker
Open Account Now
Zerodha
Dhan
Upstox

 

To prove my point let us in brief review the web based trading platform for Zerodha Vs Dhan Vs Upstox 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 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) 

 

Upstox Trading Platform Review:

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

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.

However if we compare Zerodha vs Upstox Vs Dhan in overall terms then Zerodha and Dhan in comparison to Upstox 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.

 

Zerodha Vs Dhan Vs Upstox which is better?

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

Moreover I have not done margin comparison between zerodha, dhan and upstox because after SEBI Rules on Intraday margin every stockbroker is giving same margin 5X throughout India, hence this does not matter anymore.

Zerodha in itself is the universe, whether you are a beginner or experience trader and investor, zerodha has all resources set at one place for you.

Expressing my opinion in terms of all technological tools, advanced platforms, robust management I would rate Zerodha 9.5 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 9.5 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.

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.

I hope you above comparison between these stockbrokers have certainly helped you to choose the right fir 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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