All Brokers › Dhan vs Upstox

Dhan vs Upstox

Complete charge comparison — every fee, calculated. ₹50,000 delivery trade baseline.

Discount
Dhan CHEAPER
₹126.26
Total cost on ₹50K delivery trade
VS
Discount
Upstox
₹178.71
Total cost on ₹50K delivery trade
VERDICT — ₹50,000 DELIVERY TRADE
Dhan costs ₹52.45 less on a ₹50,000 delivery trade. Dhan charges lower brokerage on delivery. On an annual basis, Dhan saves ₹3321 for a long-term investor making 5 delivery trades per month.

Side-by-Side Charge Comparison

ChargeDhanUpstoxDifference
Delivery Brokerage Zero ₹20 flat Differs
Intraday Brokerage0.03% or ₹200.1% or ₹20Differs
F&O Options₹20/order₹20/orderSame
DP Charge ₹14.75/scrip ₹20/scrip ₹52.45 gap
AMC / year Free ₹300/yr (yr 1 free) Differs
MTF Interest12.49% p.a. (up to ₹5L)18.25% p.a.Differs
API AccessFree (Dhan HQ)Free—
Call & Trade₹59₹88.50—
NetworthNot filed publiclyNot filedFinancial strength
Total (₹50K delivery) ₹126.26 ₹178.71 ₹52.45 gap

Annual Cost — Long-Term Investor

DhanUpstox
Annual cost₹7222/yr₹10543/yr
Cheaper byDhan saves ₹3321/year
Choose Dhan if you...
  • Long-term investors
  • Beginners
  • MTF users
  • Cost-conscious traders
Choose Upstox if you...
  • Algo traders
  • API developers
  • Equity investors

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Charges sourced from official broker websites and NSE filings. Regulatory charges (STT, exchange fee, SEBI fee, stamp duty = ₹111.24 on ₹50K delivery) are identical at every broker. Budget 2026: futures STT raised to 0.05%, options STT to 0.15%, effective April 1 2026. Always verify current charges before trading. Not investment advice.