ChoiceSEBI INZ000160131
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹200/yr + GST
- SME IPOs
- Not stated
- Delivery brokerage
- 0.20% or ₹20, lower
- Cost to sell ₹15,000 of IPO shares
- ₹35.40Brokerage 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 Choice and Dhan differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Choice | Dhan |
|---|---|---|
| One mainboard lot, ₹15,000₹20.65 less at Dhan | ₹35.40 | ₹14.75 |
| Two SME lots, ₹2,50,000₹20.65 less at Dhan | ₹35.40 | ₹14.75 |
| A year: 12 mainboard lots sold₹247.80 less at Dhan | ₹424.80 | ₹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 ₹200 plus GST a year at Choice, ₹0 for individuals and HUFs at Dhan.
- Equity delivery brokerage: 0.20% at Choice, ₹0 at Dhan.
- DP charge on selling shares: ₹10 plus GST per instruction at Choice, ₹12.50 plus GST per instruction per ISIN at Dhan.
- SME IPOs: not stated at Choice, Yes, SME IPOs can be applied for with mobile UPI at Dhan.
The same at both: account opening and Mainboard IPOs.
Choice vs Dhan: charges side by side
Differs 5 of 7 charges differ between Choice and Dhan. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Choice | Dhan |
|---|---|---|
| Open an account | ||
| Account opening | Free | ₹0 for individuals and HUFs |
| Demat maintenance (AMC) | Free in the first year, then ₹200 plus GST a year | ₹0 for individuals and HUFs (₹800 plus GST for NRIs, companies, LLPs, firms and trusts) |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, free | Yes, free, with UPI |
| SME IPOs | Not stated on the pages we checked | Yes, SME IPOs can be applied for with mobile UPI |
| Sell your IPO shares | ||
| Equity delivery brokerage | 0.20% (the FAQ says 0.20% or ₹20, whichever is lower) | ₹0 |
| DP charge on selling shares | ₹10 plus GST per instruction | ₹12.50 plus GST per instruction per ISIN |
| Registration | ||
| SEBI registration | INZ000160131 | INZ000006031 |
For other trading, equity intraday, Futures, Call and trade and Margin trading (MTF) interest differ too. Intraday, futures, call and trade and margin charges are on the Choice and Dhan pages.
Choice and Dhan strengths and things worth checking
Choice
Strengths
- Low DP charge
- Low AMC
- Free auto square-off
Worth checking
- Page has conflicting figures
Options brokerage and pledge charges differ between the table and the text. Confirm with Choice.
- MTF at 18%
Margin trading interest is 18% a year.
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: Choice vs Dhan
| Charge | Choice | Dhan |
|---|
Ours, with NSE rates. Change the trade to see what Choice and Dhan would each charge.
Other comparisons
Every comparison with Choice or Dhan, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Choice or Dhan?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹14.75 in broker charges at Dhan and ₹35.40 at Choice (our calculation). For two SME lots worth ₹2,50,000: Choice ₹35.40, Dhan ₹14.75 (our calculation, brokerage and DP charge with GST).
How much would the difference between Choice and Dhan be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Dhan costs ₹247.80 less in broker charges (our calculation). Add the yearly AMC: Choice: Free in the first year, then ₹200 plus GST a year; Dhan: ₹0 for individuals and HUFs.
Can I apply for SME IPOs on Choice and Dhan?
Dhan lets you apply for SME IPOs; Choice does not say so on the pages we checked.
What is the demat AMC at Choice and Dhan?
Choice: Free in the first year, then ₹200 plus GST a year. Dhan: ₹0 for individuals and HUFs.
What brokerage do Choice 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 ₹23.60 at Choice and ₹0.00 at Dhan (our calculation from their published rates).