Angel OneSEBI INZ000161534
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹240/yr + GST
- SME IPOs
- Yes
- Delivery brokerage
- ₹20 or 0.1%, lower
- Cost to sell ₹15,000 of IPO shares
- ₹41.30Brokerage and DP with GST, ours
DhanSEBI INZ000006031
- Account opening
- ₹0
- Demat AMC
- ₹0
- SME IPOs
- Yes
- Delivery brokerage
- ₹0
- Cost to sell ₹15,000 of IPO shares
- ₹14.75Brokerage and DP with GST, ours
Where Angel One and Dhan differ
4 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Angel One | Dhan |
|---|---|---|
| One mainboard lot, ₹15,000₹26.55 less at Dhan | ₹41.30 | ₹14.75 |
| Two SME lots, ₹2,50,000₹32.45 less at Dhan | ₹47.20 | ₹14.75 |
| A year: 12 mainboard lots sold₹318.60 less at Dhan | ₹495.60 | ₹177.00 |
Ours: brokerage and DP charge with 18% GST. STT and exchange charges are equal everywhere, so they are left out. SME bids are two lots.
- Demat maintenance (AMC): Free in the first year, then ₹60 a quarter plus GST, charged after the… at Angel One, ₹0 for individuals and HUFs at Dhan.
- Equity delivery brokerage: ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 at Angel One, ₹0 at Dhan.
- DP charge on selling shares: ₹20 plus GST per scrip at Angel One, ₹12.50 plus GST per instruction per ISIN at Dhan.
The same at both: account opening, Mainboard IPOs and SME IPOs.
Angel One vs Dhan: charges side by side
Differs 4 of 7 charges differ between Angel One and Dhan. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Angel One | Dhan |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 for residents | ₹0 for individuals and HUFs |
| Demat maintenance (AMC) | Free in the first year, then ₹60 a quarter plus GST, charged after the first trade in a quarter | ₹0 for individuals and HUFs (₹800 plus GST for NRIs, companies, LLPs, firms and trusts) |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, in the IPO section of the app with a UPI mandate | Yes, free, with UPI |
| SME IPOs | Yes, NSE Emerge and BSE SME IPOs, marked with an SME tag. Allotted SME shares can be sold from the app | Yes, SME IPOs can be applied for with mobile UPI |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 | ₹0 |
| DP charge on selling shares | ₹20 plus GST per scrip (₹3.50 CDSL and ₹16.50 Angel One; ₹3.25 and ₹16.75 for women) | ₹12.50 plus GST per instruction per ISIN |
| Registration | ||
| SEBI registration | INZ000161534 | INZ000006031 |
For other trading, equity intraday, Call and trade and Margin trading (MTF) interest differ too. Intraday, futures, call and trade and margin charges are on the Angel One and Dhan pages.
Angel One and Dhan strengths and things worth checking
Angel One
Strengths
- Free first month
- Cheaper dealer orders
- SME IPOs on both exchanges
Worth checking
- AMC after the first year
₹60 a quarter plus GST (₹240 a year plus GST) for a regular demat account.
- Brokerage and DP charge on delivery
Up to ₹20 per order plus a ₹20 plus GST DP charge when you sell.
Dhan
Strengths
- ₹0 brokerage on delivery
- Low DP charge
- ₹0 AMC and account opening
Worth checking
- Dealer orders cost extra
Call and trade is ₹50 plus GST per order.
- MTF rate rises with size
From 12.49% a year, up to 15.49% on larger amounts.
Brokerage calculator: Angel One vs Dhan
| Charge | Angel One | Dhan |
|---|
Ours, with NSE rates. Change the trade to see what Angel One and Dhan would each charge.
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Every comparison with Angel One or Dhan, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Angel One or Dhan?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹14.75 in broker charges at Dhan and ₹41.30 at Angel One (our calculation). For two SME lots worth ₹2,50,000: Angel One ₹47.20, Dhan ₹14.75 (our calculation, brokerage and DP charge with GST).
How much would the difference between Angel One and Dhan be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Dhan costs ₹318.60 less in broker charges (our calculation). Add the yearly AMC: Angel One: Free in the first year, then ₹60 a quarter plus GST, charged after the…; Dhan: ₹0 for individuals and HUFs.
Can I apply for SME IPOs on Angel One and Dhan?
Both let you apply for SME IPOs.
What is the demat AMC at Angel One and Dhan?
Angel One: Free in the first year, then ₹60 a quarter plus GST, charged after the…. Dhan: ₹0 for individuals and HUFs.
What brokerage do Angel One and Dhan charge when I sell IPO shares?
Selling allotted shares is a delivery trade. On a ₹15,000 sale the brokerage with GST is ₹17.70 at Angel One and ₹0.00 at Dhan (our calculation from their published rates).