Zerodha vs Upstox vs Dhan 2024 - Brokerage Charges, Demat Account Opening Fee

Zerodha vs Upstox vs Dhan Comparison

Account Opening Fees

Zerodha Upstox Dhan
₹200 (Equity) + ₹100 (Commodity) ₹249 ₹0

Annual Maintenance Charges (AMC)

Zerodha Upstox Dhan
₹300/year ₹300/year ₹0

Brokerage for Equity Delivery

Zerodha Upstox Dhan
₹0 (free) ₹0 (free) ₹0 (free)

Brokerage for Equity Intraday

Zerodha Upstox Dhan
₹20 per executed order or 0.03% ₹20 per executed order ₹20 per executed order

Brokerage for Option Trading

Zerodha Upstox Dhan
₹20 per order ₹20 per order ₹20 per order

Brokerage for Futures Trading

Zerodha Upstox Dhan
₹20 per order ₹20 per order ₹20 per order

Trading Platforms

Zerodha Upstox Dhan
Kite (web, mobile) Upstox Pro (web, mobile) Dhan App (web, mobile)

Customer Support

Zerodha Upstox Dhan
Email, phone (business hours) Email, phone (business hours) Email, phone (business hours)

Investment Options

Zerodha Upstox Dhan
Equity, derivatives, commodities, mutual funds, bonds Equity, derivatives, mutual funds, digital gold Equity, derivatives, mutual funds, commodities

Research & Advisory Services

Zerodha Upstox Dhan
Basic charts, data Basic research, news Basic charts, analysis

User Interface & Experience

Zerodha Upstox Dhan
Simple, fast interface Clean, user-friendly interface Fast, modern interface

Additional Features

Zerodha Upstox Dhan
Coin (direct mutual funds), Console (reporting) Free tools, trading API Advanced order types, API support

Zerodha vs Upstox vs Dhan - Overall Summary

Category Zerodha Upstox Dhan
Account Opening Fees ★★★★☆ ★★★★☆ ★★★★★
Annual Maintenance Charges (AMC) ★★★☆☆ ★★★☆☆ ★★★★★
Brokerage for Equity Delivery ★★★★★ ★★★★★ ★★★★★
Brokerage for Equity Intraday ★★★★☆ ★★★★☆ ★★★★☆
Brokerage for Option Trading ★★★★☆ ★★★★☆ ★★★★☆
Brokerage for Futures Trading ★★★★☆ ★★★★☆ ★★★★☆
Trading Platforms ★★★★☆ ★★★★☆ ★★★★☆
Customer Support ★★★☆☆ ★★★☆☆ ★★★☆☆
Investment Options ★★★★☆ ★★★★☆ ★★★★☆
Research & Advisory Services ★★★☆☆ ★★★☆☆ ★★★☆☆
User Interface & Experience ★★★★☆ ★★★★☆ ★★★★☆
Additional Features ★★★★☆ ★★★★☆ ★★★★☆


*Above star rating is just for reference while comparing above brokers with each other. Above rating can be wrong as well and we do not take any liability for same. 


Zerodha vs Upstox vs Dhan: Comprehensive Comparison

When choosing a brokerage platform for trading in India, Zerodha, Upstox, and Dhan stand out as the top contenders. Each platform offers unique advantages across a variety of features, from account opening fees to trading platforms and brokerage charges. Below, we provide a comprehensive comparison to help you make an informed decision.

Account Opening Fees

Zerodha, known for its competitive fee structure, charges ₹200 for an equity account and an additional ₹100 for commodities. Upstox, on the other hand, has a flat fee of ₹249, which is higher than Zerodha’s, while Dhan has completely waived off the account opening fee, offering a zero-cost entry into the trading world. This makes Dhan particularly attractive for beginners who want to avoid upfront fees.

Annual Maintenance Charges (AMC)

Zerodha and Upstox both charge ₹300 annually as maintenance fees. This cost is typical among established brokers. Dhan, however, continues its zero-fee trend, offering no AMC. This feature can significantly reduce long-term costs for traders, particularly for those looking for a low-cost, long-term investment platform.

Brokerage for Equity Delivery

All three platforms — Zerodha, Upstox, and Dhan — offer zero brokerage fees for equity delivery trades. This is a great feature for long-term investors, as they can buy and hold stocks without incurring any charges. With no fees attached to equity delivery, all three platforms are on par with each other in this respect.

Brokerage for Equity Intraday

When it comes to intraday trading, Zerodha charges ₹20 per executed order or 0.03%, whichever is lower. Upstox and Dhan also charge ₹20 per executed order. Intraday traders who conduct frequent trades will find the flat-rate structure appealing, as it simplifies cost estimation, ensuring they don't overpay for high-volume trading.

Brokerage for Option and Futures Trading

In options and futures trading, all three platforms charge ₹20 per executed order. This flat-rate fee structure across Zerodha, Upstox, and Dhan ensures that derivatives traders can choose any of these platforms without worrying about varying brokerage costs. For those deeply involved in options and futures trading, this consistency in fees makes switching between platforms unnecessary based on cost alone.

Trading Platforms

Each broker has developed its own robust trading platform. Zerodha’s Kite platform is widely regarded for its speed and simplicity, offering both web and mobile versions. Upstox has Upstox Pro, which is user-friendly and has similar offerings in web and mobile formats. Dhan's trading platform is fast, modern, and designed with an intuitive interface, catering to new-age traders. All three platforms provide excellent tools for trading, so users can choose based on personal preference and ease of use.

Customer Support

Customer service is another key consideration for traders. Zerodha, Upstox, and Dhan offer email and phone support during business hours. While none of the platforms provide round-the-clock service, their support systems are generally efficient. However, those seeking extensive, personalized customer service may need to explore more premium offerings from other brokers.

Investment Options

Zerodha offers a broad range of investment options, including equities, derivatives, commodities, mutual funds, and bonds. Upstox similarly provides equities, derivatives, mutual funds, and digital gold, which sets it apart slightly. Dhan includes equities, derivatives, mutual funds, and commodities in its offerings. For users looking for flexibility across various asset classes, all three brokers provide sufficient variety, though digital gold might be a niche feature for Upstox users.

Research & Advisory Services

Zerodha, Upstox, and Dhan all offer basic research and charting tools, but none of them focus heavily on in-depth advisory services. Zerodha’s strength lies in its basic charts and data offerings, while Upstox also provides basic research and market news. Dhan, like its counterparts, provides essential charting tools for technical analysis. For more advanced traders who rely on in-depth research, third-party tools or advisors may still be necessary.

User Interface & Experience

Zerodha is known for its simple yet fast interface, which suits traders who prioritize speed over design complexity. Upstox’s clean, user-friendly interface appeals to a wide range of traders, especially beginners. Dhan also delivers a fast, modern interface that offers a seamless trading experience. All three platforms emphasize ease of use, though personal preferences may lead users to favor one platform's interface over another.

Additional Features

Zerodha provides several additional tools such as Coin, which facilitates investment in direct mutual funds, and Console, a reporting dashboard that helps track portfolio performance. Upstox offers free tools along with a trading API for more advanced traders. Dhan stands out with its advanced order types and API support, which may be appealing for algorithmic traders or those who rely on automated strategies.

Conclusion

Zerodha, Upstox, and Dhan are all competitive platforms with their own strengths and features. Zerodha shines in providing a fast, reliable trading platform with additional tools like Coin and Console, but it charges account opening and AMC fees. Upstox balances user-friendliness with a rich feature set but has slightly higher upfront costs. Dhan, with its zero fees for account opening and maintenance, stands out as a cost-effective choice, especially for new traders. Ultimately, the best platform depends on individual trading needs, preferred features, and cost considerations.

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