Dhan Vs Upstox: A Comprehensive Comparison
In this post, I’m going to compare Dhan and Upstox.
So if you’re looking for a deep comparison of these two popular brokerages, you’ve come to the right place.
In today’s post, I’m going to compare Dhan Vs Upstox in terms of:
- Brokerage Charges, Account Opening and Maintenance Charges
- Trading Platform
- Pros and Cons
- My Experience
Let’s get started.
Dhan vs Upstox: Summary
| Dhan | Upstox | |
|---|---|---|
| Type | Discount Broker | Discount Broker |
| Year Founded | 2021 | 2011 |
| Headquarters | Mumbai, India | Mumbai, India |
| Overall Rating | 3.5 out of 5 | 4.5 out of 5 |
| Brokerage Charges for Equity Intraday, F&O, Commodity and Currency | 0.03% or Rs. 20 per executed order, whichever is lower | Rs 20 or .03%, whichever is lower |
| Maximum Brokerage per Executable Order | Rs 20 | Rs 20 |
| Zero Brokerage on Equity Delivery Trading | Yes | No |
| Presence in Branches | No branches | More than 120 branches |
| Mobile Trading App | Available | Available |
| Number of Features | N/A | 24+ |
| Ranking | 10th | 2nd |
Dhan Vs Upstox: Company Overview
Dhan is an online trading and investing platform founded by Pravin Jadhav in 2021. The SEBI-registered platform allows you to invest in financial products comprising Stocks, ETFs, Futures & Options, Commodities, and Currency. The platform has different trading applications for various device platforms. It’s also worth mentioning that Dhan has many advanced features, such as Tradingview integration, webhooks, free APIs, and Trader’s Diary.
Launched in 2009, Upstox is one of India’s most reliable SEBI-registered online brokers, and the platform is ideal for investing and trading. Upstox allows users to invest in Stocks, IPOs, Mutual Funds, and F&O. Besides; the trading platform has investors like Ratan Tata, which makes it more reliable. You can trade on Upstox from your desired device since Upstox has mobile and web applications. Further, Upstox has one of the most dedicated customer support teams.
Dhan Vs Upstox: Charges
Dhan Account Opening Charges & AMC
Dhan gives you the advantage of opening an account for ₹0 charges. Besides, the platform doesn’t charge any AMC, while some online brokers like HDFC Securities charge high AMC. You can easily open a Demat and trading account online with Documents like PAN card, Aadhaar, and eKYC.
Dhan Brokerage Charges
Dhan is a discount broker and keeps its brokerage charges minimal. Here is the brokerage structure of Dhan:
- Equity Delivery: ₹0 brokerage charges
- Equity Intraday, and all segments Futures: ₹20 or 0.03% of trade value, whichever is lower
- Equity Options and Currency Options: ₹20 per executed order
Upstox Charges
Upstox Account Opening Charges & AMC
At times, when I opened my Upstox account, account opening wasn’t free, and I opened my account by paying ₹250. However, recently, Upstox has entirely waived the account opening fee. Besides, Upstox doesn’t charge any fee for Demat Account Annual Maintenance.
Upstox Brokerage Charges
Upstox charges minimal brokerage charges on your trades. However, it may differ from segment to segment. Here are the Upstox brokerage charges:
- Equity Delivery: 20 or 2.5% (whichever is lower) per order
- Mutual Funds: ₹0 brokerage Charges on
- Equity Intraday, F&O, Currency, and Commodity: ₹20 or 0.05% (whichever is lower)
Dhan Vs Upstox: Trading platforms
Dhan Trading Platforms
Dhan Web
Dhan Web allows you to use the Dhan trading platform without installing any software on any device. The web app comes with a clean interface, and everything is self-explanatory. Even if you are a beginner, you should get the hang of the app in just 10 minutes. As far as the features go, the Dhan app comes with excellent features that comprise market overview, advanced charting tools like Tradingview, and ChartIQ charts, over 100 indicators, multiple watchlists, and multiple order types. Advanced features include Trader’s Diary, webhooks, and free APIs.
Dhan Options Trader Web
If you are an advanced Options trader and need a comprehensive analysis for your trades, there’s nothing better than the Dhan Options Trader Web app. The app comes with various advanced features for advanced Options traders. Some of these features are Pre-Built Strategies, Staddle Chain, Strategy Builder, and OI Gainers and Losers. It can be exceptionally effective for those who are really in need of these features. However, if you are a trader like me who solely makes trading decisions based on technical charts, you may avoid using this app and instead stick to the Dhan app.
Dhan Tradingview
Dhan Tradingview is a wonderful concept of making trading more effortless. You can integrate your Dhan account with an external Tradingview chart from the Trading Panel. Once you integrate, you can enter a position right from your external tradingview chart. Besides, you can drag and drop your open orders to different price levels. It makes trading a lot easier and quicker.
Dhan App
Next, looking at the Dhan App, designed for smartphones, is essential. The application has features the same as in Dhan Web App. The application is equally suitable for investing, and trading, backed by a good market overview, technical charts, multiple watchlists, and multiple order types. Besides, the application comes with good security features like Biometric authentication. However, the app is buggy, so you need to be careful while using the app.
Dhan Options Trader App
Dhan Options Trader App is Dhan’s mobile application with dedicated features for advanced Options traders. Some features are Pre-Built Strategies, Staddle Chain, and Strategy Builder. However, if you aren’t an advanced Options trader, chances are you will find the interface a little intimidating, seeing so many features.
Upstox Trading Platforms
Upstox Pro Web
Upstox Pro Web is Upstox’s web application, which has a feature-rich yet clean interface and is ideal for both traders and investors. The web app is suitable for anyone who wants to trade on the Upstox platform using one’s laptop or PC. The application offers an excellent market overview, multiple order types, technical charts, indicators, watchlists, and timeframes. Besides, Upstox comes with Read-made Options Strategies, OI data, Sensibull integration, and APIs. As far as usability goes, Upstox certainly offers high usability, and further, order execution is pretty fast.
Upstox Pro Mobile app
Upstox Pro Mobile app is ideal for anyone who prefers trading from a smartphone. The application has all the essential features for trading. You can use the app for both trading and investing. Interestingly, you can have your dashboard more trading-friendly or investing-friendly since the platform allows you to choose between trading and investing. The app has Biometric authentication, multiple watchlists, advanced order types like GTT, Tradingview, and ChartIQ charting tools, and a good notification system.
Dhan Vs Upstox: Pros and Cons
Dhan Pros
- No account opening charges, and AMC
- No brokerage charges on Equity Delivery
- Brokerage charges are minimal for other segments
- Trading applications across web and mobile devices
- Dedicated application with advanced features for Options traders
- Excellent customer support
Dhan Cons
- The mobile app is not reliable and logs out anytime
Upstox Pros
- No charges on account opening and no AMC
- Leverage trading on Equity trading
- GTT order available
- Ready-mage Options strategies
- Sensibull integration for back-testing Options strategies
- Advanced charting tools – Tradingview and ChartIQ
- Responsive and friendly customer support
Upstox Cons
- Charges brokerage on Equity Delivery
My Personal Experience with Dhan & Upstox
It’s time to share the experience I had while using these platforms. I have recently used Dhan and didn’t find it up to my expectations. First, I feel the forum is cluttered with too many features and is not as straightforward to use as Zerodha or Upstox. Most importantly, the mobile app is buggy, and the last time I used it, I ran into a situation where I was logged out in the middle of a trade. Hence, I would advise not to use the Dhan mobile application until the bug is fixed.
Regarding my experience with Upstox, I have never encountered any technical issues yet, and Upstox offers the right balance of all essential features. The interface is smooth, and most importantly, Upstox has an excellent customer support team to assist users. It’s easy to navigate and manage positions on Upstox. Besides, GTT is one of the powerful Upstox features, and using this, you can place Stop Loss and Target simultaneously while placing your order.
Conclusion
I have familiarized you with the crucial aspects of the two trading platforms. While Upstox is one of the most reliable names in the industry, Dhan is still a newcomer. Dhan has caught the attention quickly because of its comprehensive features. However, there are some issues with its mobile app. On the contrary, Upstox has been exceptionally reliable with no significant problems. Upstox is more reliable than Dhan but recommended for most users.
Frequently Asked Questions
Can I invest in mutual funds through Dhan and Upstox platforms?
Yes, both Dhan and Upstox offer the option to invest in mutual funds through their platforms. They provide a wide range of mutual fund schemes to cater to investors’ diverse preferences and goals.
Are option trading facilities available on Dhan and Upstox platforms?
Yes, both Dhan and Upstox provide option trading facilities. Traders can execute various option strategies, including buying call or put options, selling covered calls, and employing advanced options strategies to manage their risk and enhance their returns.
Can I trade in currency futures on Dhan and Upstox platforms?
Yes, both Dhan and Upstox offer currency futures trading facilities. Traders can engage in currency futures contracts to speculate on currency exchange rate movements and hedge against currency risk.
What is Algo Trading, and is it available on Dhan and Upstox platforms?
Algo Trading, also known as algorithmic trading, refers to the use of computer algorithms to automate trading strategies. While Upstox offers Algo Trading through its Upstox API, Dhan may have its own Algo Trading features or integration with third-party platforms.
How is the customer service on Dhan and Upstox platforms?
Both Dhan and Upstox strive to provide excellent customer service to their users. They offer support through multiple channels, including phone, email, and chat. Trained representatives assist users with their inquiries, technical issues, and trading-related matters promptly.
What are the risks associated with investing in the stock market through Dhan and Upstox?
Investing in the stock market involves inherent risks, such as market volatility and the potential for capital loss. Both Dhan and Upstox encourage investors to conduct proper research, consider their risk tolerance, and diversify their investments to manage these risks effectively.
What are the account opening charges for Dhan and Upstox?
You can be confident that there are no charges for opening an account with either Dhan or Upstox.
How do brokerage fees differ on Dhan and Upstox platforms?
Brokerage fees may vary between Dhan and Upstox depending on the type of trade and the trading segment. Investors can refer to the brokerage structure provided on their websites or utilize brokerage calculators to estimate the applicable fees.
Can I invest in equity futures through Dhan and Upstox?
Yes, both Dhan and Upstox offer the facility to invest in equity futures. Equity futures enable traders to speculate on the future price movements of individual stocks and take advantage of leveraged positions.
What is the role of a depository participant in the securities market on Dhan and Upstox platforms?
A depository participant (DP) is an intermediary that acts as a link between investors and depositories for holding and transferring securities in electronic form. Dhan and Upstox serve as depository participants – stock brokers, facilitating investors’ access to the securities market by providing demat and trading account services.
