Zerodha vs Dhan Comparison (2026)
Side-by-side comparison of Zerodha and Dhan: brokerage fees, account maintenance charges (AMC), IPO application speed, and trading app features.
Charges & Feature Comparison Table
| Parameter | Zerodha | Dhan |
|---|---|---|
| Account Opening Fee | ₹200 | ₹0 (Free) |
| Annual Maintenance (AMC) | ₹300/yr | ₹0 (Zero AMC for life) |
| Equity Delivery Brokerage | ₹0 (Free) | ₹0 (Free) |
| Equity Intraday Brokerage | Flat ₹20 or 0.03% | Flat ₹20 or 0.03% |
| Futures & Options (F&O) | Flat ₹20 per order | Flat ₹20 per order |
| IPO Application Flow | Seamless UPI 2.0 block mandate via Kite & Console | Fast UPI mandate submission with live allotment status notifications |
| Pre-Apply IPO Feature | Yes (during pre-market window) | Yes |
| HNI / Shareholder Bidding | Yes (High Net-Worth / Shareholder category supported) | Yes |
| Active NSE Clients | 7.5M+ active clients | 1M+ active clients |
Zerodha — Pros & Cons
India's pioneer discount broker with Rs 0 delivery brokerage and unmatched platform stability.
Pros:
- Zero brokerage on equity delivery (holding shares long-term)
- Kite platform has the highest uptime and cleanest interface
- Console offers the best capital gains and tax P&L reporting
Cons:
- ₹200 account opening charge
- ₹300 annual maintenance charge (AMC)
Dhan — Pros & Cons
The ultimate platform for active F&O traders with free TradingView Premium tools.
Pros:
- Free access to TradingView charts directly at tv.dhan.co
- ₹0 delivery brokerage and ₹0 lifetime AMC
- Lightning-fast order execution built for modern active traders
Cons:
- Feature-rich interface can be overwhelming for total beginners
- Relatively newer brand compared to legacy brokers
Final Verdict: Which Broker Should You Choose?
For Long-Term Investors & Listing Gain Sellers: If your priority is selling allotted IPO shares at zero brokerage, or building a long-term portfolio without trade commissions, Zerodha is advantageous because equity delivery is 100% free.
For Casual IPO Applicants & Beginners: If you only open a demat account to apply for IPOs occasionally and do not want fixed annual charges eating into your account, Dhan offers lifetime zero AMC and a frictionless mobile bidding experience.
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