In this Dhan vs Upstox 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.
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 Dhan Vs Upstox overall review in 20 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.
Dhan Vs Upstox 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.
- Upstox and Dhan both have fantastic trading platform for Web/mobile app, you can do fundamental as well as technical analysis quite easily.
- Dhan have a dedicated option trading platform (Web + App) which is not available at Upstox.
- Dhan has Pre-Built Option Trading Strategies for FREE plus customized Option strategy builder which you won’t be getting at Upstox.
- Upstox have tied up with other third party financial services platform such as Sensibull, Smallcase, Tickertape, Streak, Refinitiv.
- 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 Upstox.
- 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 Upstox.
- 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 Upstox.
- Dhan also has Auto-Detection of Candlestick Patterns on Charts on their trading platform which means charts will now automatically recognize & display the names of 37 widely known Candlestick Patterns. Combine this with dhan other features like 20 Depth Data, Price Alerts, Import Watchlists, etc. you have enough data to help you with your trades and these features are not available at Upstox.
- Dhan brokerages are lower than Upstox, Dhan is charging Rs.20 or 0.03% whereas Upstox is charging Rs.20 or 0.05% (whichever is lower).
- Upstox and Dhan both also gives free delivery based trades.
- Upstox and Dhan both offers mutual fund investment i.e. SIP in stocks and ETF.
- 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.
- Upstox gives Margin Trading Facility for 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.
- 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.
- Account opening charges as well as AMC (Annual Maintenance Charges) is Zero for Dhan for a limited time period
- 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 Upstox, after SEBI Rules on Intraday margin every stockbroker is giving same margin 5X throughout India, hence this does not matter anymore.
- 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.
- Overall, I find Dhan much better than Upstox looking at all the features, robust trading platform and cost effectiveness.
You can Open a free Dhan trading/demat account with Zero AMC when you open through 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 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.
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.
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 increased its brand value as well as will attract more clients to its user base.
Dhan Vs Upstox 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:
- Dhan App for Mobile
- Dhan for desktop web version
- Option trading platform (Web + App) by dhan
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 it even beats the Upstox trading platform due to the various features available under the same page such as technical, option chain, 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.
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.
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.
Dhan also has Auto-Detection of Candlestick Patterns on Charts on their trading platform which means charts will now automatically recognize & display the names of 37 widely known Candlestick Patterns.
Combine this with dhan other features like 20 Depth Data, Price Alerts, Import Watchlists, etc. you have enough data to help you with your trades.
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 and 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.
Open a Free Dhan trading/demat account with Zero Annual Maintenance Charges online here
Below are some of the brilliant features of Dhan stock broker:
- Access 4,000+ Scrips and major Indices like Nifty 50, Bank Nifty, FinNifty
- Stock Trading App offers 1,600+ Stocks for Intraday Trading
- MTF with 4x Leverage on 1,000+ Stocks & Unlimited Holding Period
- Create a Basket of Stocks & Place Order in 1-Click
- Daily, Weekly, Monthly SIP in Stocks
- Busy Between 09:15 AM to 3:30 PM? Place After Market Orders
- ₹0 Brokerage on Stock Investing & ₹20 for Intraday Trading
- Buy/Sell Directly from Option Chain
- Get Real-time Payoff Graph, Greeks & Live Trade Volumes
- Advanced Order Types like Trailing Stop Loss, Iceberg, Forever (GTT)
- Get Instant Pledge Margin for Option
- Buying/Selling on 1,500 Stocks
- Buy Options Quickly with Flash Trade
- ₹20 on Options for All Segments
- ₹20 or 0.03% (whichever is lower) on Futures for All Segments
- Choose from 1,000+ Direct Mutual Funds
- Start SIP in Equity, Debt, Hybrid, and Index Funds
- Save Taxes with ELSS Funds
- Find Top Rated Funds Easily on Mutual Funds SIP App
- Add Multiple Funds in Cart and Invest in 1-Click
- Manage Mutual Fund SIP with AutoPay or 1-Tap Top-up
- Pay ZERO Charges for investing mutual funds – Absolutely Free!
- Access to All Stock Market ETFs – Nifty BEES, Gold, Debt, Global
- Daily, Weekly, & Monthly SIP in ETFs
- Pledge ETFs in your Portfolio to get Money for Trading
- MTF with 4X Leverage for Swing Trading ETFs
- Separate ETF Dashboard for Tracking Returns
- ₹0 Brokerage on ETF Investing
- Trade All Currency Pairs: 4 INR & 3 Cross Currency
- Trade All Commodities: Gold, Silver, Crude Oil, Natural Gas etc.
- Trade Currencies & Commodities from Charts
- Pre-Apply for Upcoming IPOs
- Bid for Mainboard & SME IPOs
- Invest in IPO at ₹0 Charges
Special Features Built by Dhan Broker to Solve Problems:
- Trade Options on TradingView.com only via Dhan
- Access & Trade NIFTY, NIFTY BANK, FINNIFTY from Charts
- Set Alerts on Losses and Over Trading with Trader’s Controls
- Evaluate what went right and wrong in your strategy with Traders Diary
- Save your Order and Execute later whenever you want with Draft Order
Incredible Dhan Features for Option Trading:
- Readymade Option Strategies – Fast create and execute popular option strategies like Straddle, Strangle, Iron Condor, and many more with our options app.
- Custom Strategy Builder – Create your own derivative trading strategies and execute them from the same platform. Simple. Convenient. Powerful option strategy builder!
- Options Screener & Scanner – Identify and monitor scrips based on Volume, OI, Trends, Buildup, IV, and more with our option trading analysis app.
- Outlook Based Ideas – Search scrips available for option trading ideas based on Bullish, Bearish, or Netural market outlook.
- Realtime Pay-off Graph – Dhan app for option analysis helps you understand the potential P&L for your strategies before you execute them.
- Dedicated Commodity & Currency Dashboard – If you are Trading Across Segments than you can Manage your positions in separate, dedicated dashboards.
- Forever Order with OCO – Set a target price that stays active on Dhan FnO app until the specified price hits, including OCO for F&O trading.
- Instant Pledge Margin – Pledge shares from your demat account to get more margin for f&o trading within minutes.
- Option Chain – Trade calls and puts directly from the option chain with Greeks and other awesome insights on Dhan option trading app.
- Synced Across All Dhan Platforms – All Dhan platforms are synced in real-time all across Positions, Orders, Basket, Margin & Funds, Portfolio, Charts, Watchlist and Tradebook.
Dhan mobile App have been downloaded on playstore for more than 1.5 million with a user rating of 4.5 which also shows the trust they have created among users within small time period.
Hence If you want a Safe & Trusted stock market app with Advanced Features, Fast Order Execution, Seamless Charts, Simple UI, and Helpful Customer Support? Dhan share market app has it all!
Open Free dhan trading and demat account with Zero AMC (Annual Mainenetance Charges)
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.
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.
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.
You can also directly withdraw or add funds to your trading account from platform.
Overall 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.
You can Open a free Dhan trading/demat account with Zero AMC when you open through this link.
Dhan Vs Upstox 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,
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.
So, overall the brokerage charges for both stock brokers are kept at quite decent priced considering the broking industry norms. Having said that Dhan brokerage is still lower then upstox hence it would save more money if you are a frequent intraday trader.
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).
- ₹0 Demat Account Fees
- ₹0 AMC
- ₹0 Platform Fees
- ₹0 Brokerage for Delivery Trades
- ₹20 per order for Intraday Trades
If we talk about 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.
So, overall Dhan 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 on their website.
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 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:
- 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.
You can Open a free Dhan trading/demat account with Zero AMC when you open through this link.
Dhan Vs Upstox 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.
You can Open a free Dhan trading/demat account with Zero AMC when you open through this link.
My Opinion On Dhan Vs Upstox:
Dhan broker is a rising star and it is indeed much better than Upstox If we do a overall comparison of various charges, features hence I would advise anyone to go with Dhan and avoid Upstox as of now.
If I have to rate upstox overall as an leading discount broker I will give it 8.5 out of 10
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 9.6 out of 10.
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?
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