Dhan vs Zerodha: Which is Better?

As per our research report on top 20 stock broker companies in India, Zerodha is one of the largest discount brokers in India with more than 64 lakh client base which is approximately 20% of the total Demat account holders.

While Dhan is also a discount broker with 10 lakh + active client base. 

Both stockbrokers Zerodha and Dhan registered with SEBI and are members of BSE, NSE, MCX, and CDSL. 

Dhan vs Zerodha Comparison Table

Particulars	Zerodha	Dhan
Broker Type	Discount Broker	Discount Broker
Year of Incorporation	2010	2021
Exchange Membership	NSE, BSE, MCX and NCDEX	BSE, NSE
Trade-in	Stocks/Equity, F&O, Commodities, Currency, Mutual Funds, IPOs, Bonds & Govt-Securities	Stocks/Equity, Currency F&O, Commodity, IPOs, ETFs, & Bonds
Account opening charges (one-time)	Rs 200+ Rs 100 for Commodity (optional)	Rs. 0 (Free)
Demat AMC Fees	Rs. 300	Rs. 0 (Zero)
Intraday Margin	Upto 5X on intraday	Upto 5X on intraday
Brokerage Charges	Zerodha Plan	Dhan
Equity Delivery	0 (Free)	0 (Free)
Equity Intraday	0.03% or Rs. 20 per executed order whichever is lower	0.03% or Rs. 20 per executed order whichever is lower
Equity Futures	0.03% or Rs. 20 per executed order whichever is lower	0.03% or Rs. 20 per executed order whichever is lower
Equity Options	Rs. 20 per executed order	Rs. 20 per executed order
Currency Futures	0.03% or Rs. 20 per executed order whichever is lower	0.03% or Rs. 20 per executed order whichever is lower
Currency Options	Rs. 20 per executed order	Rs. 20 per executed order
Commodity Futures	0.03% or Rs. 20 per executed order whichever is lower	0.03% or Rs. 20 per executed order whichever is lower
Commodity Options	Rs. 20 per executed order	Rs. 20 per executed order
Call & Trade Charges	Rs. 50 per order	Rs. 50 per order

Dhan vs Zerodha Tradable Assets

Both stockbrokers Dhan and Zerodha allow you to trade in all segments. 

• Equity delivery 
• Equity intraday
• Equity F&O
• Currency F&O
• Commodity F&O

You can also invest in ETFs, IPOs, and bonds through both the stockbrokers. 

Apart from that, Zerodha offers a unique advantage over Dhan that you can invest in mutual funds through Zerodha Coin. 

Dhan Vs Zerodha Account Charges & AMC Comparison

#1. Account Opening Charges

You can open a free demat and trading account with Dhan. On the other hand, Zerodha charges you Rs. 200 for a demat trading account opening. 

You need to pay Rs. 100 more to open a commodity trading account with Zerodha. Commodity trading is optional in Zerodha.

	Zerodha	Dhan
Demat Account Opening Charges	Rs. 0 (Free)	Rs. 0 (Free)
Trading Account Opening Charges (One Time)	Rs 200 (equity only) Rs 300 (with commodity account)	Rs. 0 (Free)

#2. Account Annual Maintenance Charges (AMC)

Dhan offers zero AMC charges, while Zerodha charges Rs 300 for demat account AMC fees.

AMC Fee	Dhan	Zerodha
Trading AMC Fee	Zero	Zero
Demat AMC Fee	Zero	Rs. 300 yearly (Rs. 75 quarterly)

Zerodha vs Dhan – Broker Comparison

Both Zerodha (read full review) and Dhan offer the same brokerage charges. They charge you zero brokerage charges on equity delivery and for intraday is 0.03% or Rs. 20 per executed order whichever is lower.

But there is a minor difference is that Dhan offers 50% off brokerage benefits to women as compared to men. This means Dhan charges Rs. 10 per order for intraday trading and F&O for womens.

Segment	Zerodha Brokerage Charges	Dhan Brokerage Charges
Equity Delivery	0 (Free)	Rs 0 (free)
Equity Intraday	0.03% or Rs. 20 per executed order whichever is lower	0.03% or Rs. 20 per executed order whichever is lower
Equity Futures	0.03% or Rs. 20 per executed order whichever is lower	0.03% or Rs. 20 per executed order whichever is lower
Equity Options	Rs. 20 per executed order	Rs. 20 per executed order
Currency Futures	0.03% or Rs. 20 per executed order whichever is lower	0.03% or Rs. 20 per executed order whichever is lower
Currency Options	Rs. 20 per executed order	Rs. 20 per executed order
Commodity Futures	0.03% or Rs. 20 per executed order whichever is lower	0.03% or Rs. 20 per executed order whichever is lower
Commodity Options	Rs. 20 per executed order	Rs. 20 per executed order

You can go through our comparison of the Zerodha vs Upstox to know the brokerage charges of both stock brokers. 

Dhan Vs Zerodha Leverage (Margin)

As per SEBI circular issued on peak margin on July 20, 2020, SEBI fixed the leverage margin for all stockbrokers in India. According to this circular, stockbrokers are not permitted to offer margins higher than the defined cap to their customers.

Therefore, both the stock brokers Dhan and Zerodha offer margin for intraday trading of up to 20% of the trade value (5x leverage) based on the stock. 

Segment	Dhan	Zerodha
Equity Delivery	100% of trade value (1x leverage)	100% of trade value (1x leverage)
Equity Intraday	Up to 20% of trade value (5x leverage)	Up to 20% of trade value (5X leverage)
F&O (Equity, Currency & Commodities)	100% of NRML margin (Span + Exposure) (1x leverage)	100% of NRML margin (Span + Exposure) (1x leverage)

Zerodha Vs Dhan Trading Platforms

I used Zerodha kite for both web and mobile app trading platforms. Zerodha kite is a simple, clutter-free, and user-friendly trading experience. 

Zerodha offers various trading platforms to its customers. 

• Kite – Web-based trading platform for investing in stocks, IPOs
• Kite Mobile – Mobile based trading app for Android/iOS
• Coin or Coin app – invest in mutual funds or bonds, You can check the best broker for mutual fund investments.
• Console – Back-office platform
• Sentinel – Live market price alerts tool

Dhan provides various trading platforms to its customers.

• Dhan App –  Mobile based trading app to invest & trade in stocks, commodities, ETFs, currencies, F&O, and IPOs. 
• Dhan web – Web based trading platform to invest in stocks
• Dhan Options Trader Web – Desktop based options trading platform
• Dhan Options Trader App – Mobile based options trading platform

Dhan Vs Zerodha Customer Support

As per my personal experience, Zerodha provides a better customer support system as compared to all other discount brokers in India including Dhan. 

Zerodha offers a 48 hours ticket window size to resolve the customer issue. Zerodha ensures that every complaint should be addressed within 48 hours.

	Dhan Customer Care	Zerodha Customer Care
Account opening number	022-43116666	080 4719 2020 080 7117 5337
Trading issues	022-48906273 Email – [email protected]	080 4718 1888080 4718 1999
Ticket raise		Zerodha ticket to raise

You can also check the detailed comparison of Angel One vs Zerodha to understand their brokerage fees and customer support offerings.

Dhan Vs Zerodha: Which One is Better?

In my opinion, I would recommend you to open account with Zerodha for a better trading experience. Zerodha is trustworthy and reliable customer support. Additionally, if you don’t mind paying the account opening fee, Zerodha provides an easy-to-use kite trading platform with flat brokerage charges. 

Dhan provides an exclusive 50% discount on brokerage charges for women, along with zero account opening fee for both men and women. However, I don’t have any personal experience with Dhan and do not feel confident in entrusting my funds with them.

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