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Dhan vs Upstox (Compare Dhan and Upstox)

So many brokers are offering stock trading & Demat services in India, which one is best, which one provides the services at the lowest price, provides best mobile trading application, the best research team, etc. All answers to your questions would be available here.

Here we provide side by side comparison between Dhan vs Upstox, Below comparison of Dhan vs Upstox highlights the variations of Brokerage charges & services offered, Compare their ratings, brokerage & AMC charges, Investment choices, Customer Service, Demat Account, features, Platforms, and running offers.

One on One comparison of Dhan vs Upstox is given below:

Dhan Upstox
About The Brokers
Dhan :

A genuinely unique pricing feature: Dhan offers a 50% brokerage discount for women customers — ₹10/order instead of ₹20 for intraday and F&O trades. This is the only major discount broker in    >>> more

Upstox :

"Founded in 2009, Upstox is one of the reliable stock trading brokers with low brokerage and excellent facilities. Two young successful entrepreneurs who opened the co   >>> more

Find More Information about the Broker :
Dhan :
OVERVIEW
Upstox :
OVERVIEW BROKERAGE PRODUCTS & SERVICES TRADING PLATFORM & TOOLS RATING
Type of Broker
Dhan :
 Discount Broker
Upstox :
 Discount Broker
Promo/offers
Dhan :
N/A
Upstox :
Special Offer: Pay flat Rs 20 per trade for delivery, Intra-day and F&O. Open Instant Account and start trading today.
Advantage
Dhan :
✔ What Dhan Does Well
✓ First Indian broker on TradingView.com — trade options directly from TradingView
✓ Dedicated Options Trader app (web + mobile) with strategy builder
✓ Super Order — entry + target + stop-loss placed simultaneously in one click
✓ 50% women discount — ₹10/order (only broker in India with gender pricing)
✓ ₹0 AMC + ₹0 account opening
✓ DhanHQ free API — algo trading at ₹0 cost
✓ 915 Terminal — power trader desktop with speed and flexibility
✓ Iceberg Plus — large order slicing for institutional-scale retail
✓ ~1 million active clients — proven at scale
✓ Backed by Mirae Asset, Blume, 3one4 Capital
✓ MF, IPO, ETF, SGB, Bonds, Smallcase all available
Upstox :
✔ What Upstox Does Well
✓ Flat ₹20 per order — simple, transparent pricing
✓ First year demat AMC completely free
✓ Pro Web — fast TradingView charting with Chart360
✓ Backed by Ratan Tata & Kalaari Capital — credible
✓ Account opens in 15 minutes — among fastest in India
✓ Well-documented API for algorithmic traders
✓ 150+ technical indicators on Pro platform
✓ IPO applications free via UPI/ASBA
✓ SEBI-registered, CDSL custody — securities safe
✓ Call & Trade at ₹20/order — cheaper than Zerodha's ₹50
Disadvantage
Dhan :

✘ Where Dhan Falls Short

✗ No NRI accounts
✗ Commodity (MCX) trading not clearly supported despite MCX membership
✗ ₹20 brokerage same as Zerodha, Angel One — no pricing differentiation
✗ Customer support reported as variable during peak hours
✗ Pledge charge: ₹15+GST per instruction (Firstock and mStock offer ₹0)
✗ No physical branches — 100% online only
✗ Relatively new (2021) vs Zerodha/HDFC SKY institutional depth
Upstox :

✘ Where Upstox Falls Short

✗ ₹20 charged on delivery trades — unlike Zerodha's ₹0
✗ NRI trading accounts NOT available
✗ Mutual funds: regular plans only (not direct plans)
✗ No education resource like Zerodha Varsity
✗ No public platform outage disclosure page
✗ DP charge ₹20/scrip — applies on every delivery sell
✗ No phone support — chat and email only
✗ No research or stock recommendations
✗ No 3-in-1 integrated banking account
✗ Platform slows on high-volatility expiry days
Why This
Dhan :

NA
Upstox :
  • Upstox offers zero brokerage on equity mutual fund Investment and a mere ₹20 per transaction on Equity Delivery,intraday and F&O trades.
  • After Market Order (AMO), Cover Order and BO are available on both web and mobile
  • Trailing-Stop/Stop-Loss (SL) is available in both web and mobile.
  • Zero Demat AMC, Free demat account for life.
  • Offers NRI trading.
  • Offers Mutual Fund Investment, SIP Investement.
  • Upstox is backed by top investors with the likes of Ratan Tata, Kalaari Capital & GVK Davix
  • Upstox offers the best of technology to traders. The Upstox Platform on mobile and web is one of the best platforms for the Indian stock market.
Open Account

Dhan vs Upstox Account Opening & AMC Charges

- and Upstox Trading Account Opening Fee is Rs 0 (Free) . - and Upstox Demat Account AMC is Rs 150 .

Dhan Upstox
Trading Account Opening Fee Trading Account Opening Fee : - Trading Account Opening Fee :

Rs 0 (Free)
Demat Account Opening Fee Demat Account Opening Fee : - Demat Account Opening Fee :

Rs 0 (Free)
Demat Account AMC Demat Account AMC : - Demat Account AMC :

Rs 150
Trading Account AMC Trading Account AMC : - Trading Account AMC :

Rs 0 (Free)
Open Account Open Account

Dhan vs Upstox Brokerage Charges

Dhan Brokerage Charges Upstox Brokerage Charges Equity Delivery is Rs 20 per executed order or 2.5% whichever is low and Equity Intraday is Rs 20 per executed order or 0.05% whichever is lower and Equity Options is Rs 20 per executed order .

Dhan Upstox
Plan Name - Plan Name :

Basic Plan
Equity Delivery - Equity Delivery :

Rs 20 per executed order or 2.5% whichever is low

Equity Intraday - Equity Intraday :

Rs 20 per executed order or 0.05% whichever is lower

Equity Future - Equity Future :

Rs 20 per executed order or 0.05% whichever is lower

Equity Options - Equity Options :

Rs 20 per executed order

Currency Futures - Currency Futures :

Rs 20 per executed order or 0.05% whichever is lower

Currency Options - Currency Options :

Rs 20 per executed order

Monthly Fee - Monthly Fee :

NA

Margin Trading - Margin Trading : -
Commodity Futures - Commodity Futures :

Rs 20 per executed order or 0.05% whichever is lower

Commodity Options - Commodity Options :

Rs 20 per executed order

Open Account Open Account

Dhan vs Upstox Exchange Transaction Charges

Dhan Exchange Transaction Charges - and - . Upstox Exchange Transaction Charges Equity Future is NSE Rs 190 per Cr (0.0019%) | BSE Rs 0 and Equity Options is NSE Rs 5000 per Cr (0.05%) | BSE Rs 3750 per Cr (0.0375%) (on premium) .

Dhan Upstox
Equity Delivery Equity Delivery : - Equity Delivery :

NSE Rs 325 per Cr (0.00325%) | BSE Rs 375 per Cr (0.00375%) (each side)
Equity Intraday Equity Intraday : - Equity Intraday :

NSE Rs 325 per Cr (0.00325%) | BSE Rs 375 per Cr (0.00375%) (sell side)
Equity Future * Equity Future : - Equity Future :

NSE Rs 190 per Cr (0.0019%) | BSE Rs 0
Equity Options * Equity Options : - Equity Options :

NSE Rs 5000 per Cr (0.05%) | BSE Rs 3750 per Cr (0.0375%) (on premium)
Currency Futures * Currency Futures : - Currency Futures :

NSE Rs 90 per Cr (0.0009%) | BSE Rs 22 per Cr (0.00022%)
Currency Options Currency Options : - Currency Options :

NSE Rs 3500 per Cr (0.035%) | BSE Rs 100 per Cr (0.001%) (on premium)
Commodity Commodity : - Commodity :

Group A - Rs 290 per Cr (0.0029%)
Open Account Open Account

Dhan vs Upstox Other Charges

Dhan and . Upstox Minimum Brokerage is 0.05% and Call & Trade is Rs 20 per trade .

Dhan Upstox
Minimum Brokerage Minimum Brokerage : - Minimum Brokerage :

0.05%
Call & Trade Call & Trade : - Call & Trade :

Rs 20 per trade
Stamp Duty * Stamp Duty : - Stamp Duty : -
DP Charges (on sell side) DP Charges (on sell side) : - DP Charges (on sell side) :

₹13 plus ₹5.50 (CDSL charges) per scrip.
Other Miscellaneous Charges Other Miscellaneous Charges : - Other Miscellaneous Charges :

Auto Square-off Charges: Rs 50
Open Account Open Account

Dhan vs Upstox Features

Dhan and Upstox both offer a host of features, trading tools & platforms to their clients. Their comparative analysis is in the below table:

Dhan Upstox
Trading Platform Trading Platform : - Trading Platform :

Upstox Pro Web, Dartstock, NEST Trader, Fox Trader, iOS and Android Algola
Placing orders through charts Placing orders through charts : - Placing orders through charts : -
Trading Alerts Trading Alerts : - Trading Alerts :

Yes
Research and Advice / Trading Tips Research and Advice / Trading Tips : - Research and Advice / Trading Tips :

No
Detailed Education Initiatives Detailed Education Initiatives : - Detailed Education Initiatives :

No
Unique features & Offers Unique features & Offers : - Unique features & Offers : -
Referral Program Referral Program : - Referral Program :

1
Margin Against Shares (Equity Cash) * Margin Against Shares (Equity Cash) :

Yes

 Margin Against Shares (Equity Cash) :

No
Margin Against Shares (Equity F&O) * Margin Against Shares (Equity F&O) :

Yes

 Margin Against Shares (Equity F&O) :

Yes
Open Account Open Account

Dhan vs Upstox Demat Account Charges

A comparative table of various demat account charges between Dhan and Upstox is below:

Dhan Upstox
Depository Service Provider Depository Service Provider : - Depository Service Provider :

CDSL
Account Opening Fee Account Opening Fee : - Account Opening Fee :

Rs 249
Advance Deposit Advance Deposit : - Advance Deposit :

Nil
AMC AMC : - AMC :

Rs 150
Dematerialisation Charges Dematerialisation Charges : - Dematerialisation Charges :

Rs 2.00 per certificate plus courier charges of Rs 35 per demat request
Rematerialisation Charges Rematerialisation Charges : - Rematerialisation Charges :

Rs 25 per certificate or 0.05% of the value whichever is higher.
Transaction Charges (Credit) Transaction Charges (Credit) : - Transaction Charges (Credit) : -
Transaction Charges (debit) Transaction Charges (debit) : - Transaction Charges (debit) :

Rs 13 + Rs 5.50 (CDSL charges) per scrip.
Pledge Creation Charges Pledge Creation Charges : - Pledge Creation Charges :

0.02% of the transaction charges subject to a minimum of Rs 50 plus NSDL / CDSL charges at actual.
Pledge Creation Confirmation Charges Pledge Creation Confirmation Charges : - Pledge Creation Confirmation Charges :

0.02% of the transaction charges subject to a minimum of Rs 50 plus NSDL / CDSL charges at actual.
Pledge Invocation Charges Pledge Invocation Charges : - Pledge Invocation Charges :

0.05% of the transaction charges subject to a minimum of Rs 50
Failed Instruction Charges Failed Instruction Charges : - Failed Instruction Charges :

Rs 50 per transaction
Other Charges Other Charges : - Other Charges :

  1. Demat Rejection Charges: Rs 35 per rejection for every 500 gms.
  2. Adhoc / Non periodic statement requests: Rs 25 (Rs 500 for foreign address) per request upto 10 pages. Every additional 5 pages or a portion thereof will be charged at Rs 10 plus courier / postage charges.
  3. Cheque Bounce charges: Charges will be applied based on charges as determined by our bankers.
Open Account Open Account

Dhan vs Upstox Basic Details

Dhan and Total Number of Clients is 979483 and . Upstox Year of Incorporation is 2012 and Total Number of Clients is 2036413 and Total Number of Branches is 4 .

Dhan Upstox
Year of Incorporation Year of Incorporation : - Year of Incorporation :

2012
Active Exchange Memberships Active Exchange Memberships : - Active Exchange Memberships :

BSE, NSE, MCX
Demat Services Demat Services : - Demat Services :

No
Website Website : - Website : www.upstox.com
Contact Details Contact Details : - Contact Details :

+91-22-6130-9999
Total Number of Clients Total Number of Clients :

979,483

 Total Number of Clients :

2,036,413
Total Number of Branches Total Number of Branches : - Total Number of Branches :

4
Products * Products : - Products :

Upstox Pro Web,Upstox Pro Mobile, Nest Desktop.
Open Account Open Account

Dhan vs Upstox Orders

Orders

Dhan Upstox
Cover Orders (CO) Cover Orders (CO) : - Cover Orders (CO) :

Yes
Bracket orders / One Cancels Other (BO / OCO) Bracket orders / One Cancels Other (BO / OCO) : - Bracket orders / One Cancels Other (BO / OCO) :

No
After Market Orders (AMO) After Market Orders (AMO) : - After Market Orders (AMO) :

Yes
Buy Today Sell Tomorrow (BTST) * Buy Today Sell Tomorrow (BTST) :

Yes

 Buy Today Sell Tomorrow (BTST) :

No
Sell Today Buy Tomorrow (STBT) * Sell Today Buy Tomorrow (STBT) :

Yes

 Sell Today Buy Tomorrow (STBT) :

No
Good Till Cancelled (GTC) * Good Till Cancelled (GTC) :

Yes

 Good Till Cancelled (GTC) :

Yes
Open Account Open Account

Dhan vs Upstox Research and Advice / Trading Tips

Research and Advice / Trading Tips

Dhan Upstox
Equity Trading Recommendation * Equity Trading Recommendation : - Equity Trading Recommendation :

No
Equity Investment Recommendation * Equity Investment Recommendation : - Equity Investment Recommendation :

No
Recommendation basis risk Profile * Recommendation basis risk Profile : - Recommendation basis risk Profile :

No
Comparison * Comparison : - Comparison :

No
Free Tips * Free Tips : - Free Tips :

No
Daily Market report * Daily Market report : - Daily Market report :

No
ETF research * ETF research : - ETF research :

No
Quarterly Results * Quarterly Results : - Quarterly Results :

No
Open Account Open Account

Dhan vs Upstox Franchisee / Authorized Person related information

Franchisee / Authorized Person related information

Dhan Upstox
Availability for franchisee / AP Availability for franchisee / AP : - Availability for franchisee / AP : -
Investment required for Franchisee / AP Investment required for Franchisee / AP : - Investment required for Franchisee / AP : -
Open Account Open Account

Dhan vs Upstox Product & Services

Dhan and Upstox both offer a host of Products & Services for a better trading experience for their clients. Their comparative analysis is in the below table:

Dhan Upstox
Delivery Based Trading * Delivery Based Trading : - Delivery Based Trading :

Yes
Margin Trading * Margin Trading : - Margin Trading :

Yes
Call N Trade * Call N Trade : - Call N Trade :

Yes
Trading in Both the exchanges * Trading in Both the exchanges : - Trading in Both the exchanges :

Yes
Limit Order * Limit Order : - Limit Order :

Yes
3-in-1 On-line Trading Account * 3-in-1 On-line Trading Account : - 3-in-1 On-line Trading Account :

No
NRI Services * NRI Services : - NRI Services :

No
SMS Alerts * SMS Alerts : - SMS Alerts :

No
Offers Multiple Plan * Offers Multiple Plan : - Offers Multiple Plan :

No
IPO Investment * IPO Investment : - IPO Investment :

No
Portfolio Analysis * Portfolio Analysis : - Portfolio Analysis :

Yes
Advanced Charting Features * Advanced Charting Features : - Advanced Charting Features :

Yes
Brokerage Calculator * Brokerage Calculator : - Brokerage Calculator :

Yes
Margin Calculator * Margin Calculator : - Margin Calculator :

Yes
Stop Loss Order * Stop Loss Order : - Stop Loss Order :

Yes
Bracket Orders & Trailing Stop Loss * Bracket Orders & Trailing Stop Loss : - Bracket Orders & Trailing Stop Loss :

Yes
Equity Future & Option Trading * Equity Future & Option Trading : - Equity Future & Option Trading :

Yes
Currency Future & Option Trading * Currency Future & Option Trading : - Currency Future & Option Trading :

Yes
Market Trading * Market Trading : - Market Trading :

Yes
Monthly & Yearly Plan * Monthly & Yearly Plan : - Monthly & Yearly Plan :

No
Aumtomated Trading * Aumtomated Trading : - Aumtomated Trading :

No
Open Account Open Account

Dhan vs Upstox Customer Services

Dhan and Upstox both offer a host of Customer service options to their clients to quickly solve their queries or grievances if any. Their comparative analysis is in the below table:

Dhan Upstox
Toll Free Number * Toll Free Number : - Toll Free Number :

No
Live Chat Facility * Live Chat Facility : - Live Chat Facility :

Yes
Email Facility * Email Facility : - Email Facility :

Yes
Branch Offices * Branch Offices : - Branch Offices :

Yes
Customer Care * Customer Care : - Customer Care :

Yes
Community Service * Community Service : - Community Service :

Yes
Relationship Manager * Relationship Manager : - Relationship Manager :

No
24/7 Support * 24/7 Support : - 24/7 Support :

No
Open Account Open Account

Dhan vs Upstox Other Investement

Dhan and Upstox both offer a lot of investment avenues apart from Stock trading on their platforms to their clients to make a better trading experience. Their comparative analysis is in the below table:

Dhan Upstox
Commodity Trading * Commodity Trading : - Commodity Trading :

Yes
Investment in ETFs * Investment in ETFs : - Investment in ETFs :

Yes
Investment in Mutual Funds * Investment in Mutual Funds : - Investment in Mutual Funds :

Yes
Investment in Bonds * Investment in Bonds : - Investment in Bonds :

No
Investment in Corporate Debt instruments * Investment in Corporate Debt instruments : - Investment in Corporate Debt instruments :

No
Insurance Services * Insurance Services : - Insurance Services :

No
Banking Services * Banking Services : - Banking Services :

No
Open Account Open Account

Dhan vs Upstox Trading Platform

Dhan and Upstox both offer a host of Trading Platform for a better trading experience for their clients. Their comparative analysis is in the below table:

Dhan Upstox
Web Platform * Web Platform : - Web Platform :

Yes
Android Mobile App * Android Mobile App : - Android Mobile App :

Yes
Desktop Windows * Desktop Windows : - Desktop Windows :

Yes
Desktop Mac * Desktop Mac : - Desktop Mac :

No
I-Pad App * I-Pad App : - I-Pad App :

Yes
Virtual Trading * Virtual Trading : - Virtual Trading :

No
iPhone Mobile App * iPhone Mobile App : - iPhone Mobile App :

Yes
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Open Account Open Account

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