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
HDFC Securities (HDFC Sky)SEBI INZ000186937
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹240/yr + GST
- SME IPOs
- Yes
- Delivery brokerage
- ₹20 or 2.5%, lower
- Cost to sell ₹15,000 of IPO shares
- ₹47.20Brokerage and DP with GST, ours
Where Dhan and HDFC Securities (HDFC Sky) differ
4 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Dhan | HDFC Securities (HDFC Sky) |
|---|---|---|
| One mainboard lot, ₹15,000₹32.45 less at Dhan | ₹14.75 | ₹47.20 |
| Two SME lots, ₹2,50,000₹32.45 less at Dhan | ₹14.75 | ₹47.20 |
| A year: 12 mainboard lots sold₹389.40 less at Dhan | ₹177.00 | ₹566.40 |
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): ₹0 for individuals and HUFs at Dhan, ₹0 for the first year, then ₹20 a month plus GST at HDFC Securities (HDFC Sky).
- Equity delivery brokerage: ₹0 at Dhan, ₹20 or 2.5% per order, whichever is lower at HDFC Securities (HDFC Sky).
- DP charge on selling shares: ₹12.50 plus GST per instruction per ISIN at Dhan, ₹20 per scrip at HDFC Securities (HDFC Sky).
The same at both: account opening, Mainboard IPOs and SME IPOs.
Dhan vs HDFC Securities (HDFC Sky): charges side by side
Differs 4 of 7 charges differ between Dhan and HDFC Securities (HDFC Sky). Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Dhan | HDFC Securities (HDFC Sky) |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 for individuals and HUFs | Free |
| Demat maintenance (AMC) | ₹0 for individuals and HUFs (₹800 plus GST for NRIs, companies, LLPs, firms and trusts) | ₹0 for the first year, then ₹20 a month plus GST (basic services demat accounts under ₹50,000: ₹0) |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, free, with UPI | Yes, on HDFC Sky |
| SME IPOs | Yes, SME IPOs can be applied for with mobile UPI | Yes. HDFC Sky says you can apply for SME IPOs in one click |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹0 | ₹20 or 2.5% per order, whichever is lower |
| DP charge on selling shares | ₹12.50 plus GST per instruction per ISIN | ₹20 per scrip (the support page does not say whether GST is extra; we add 18% in our calculation) |
| Registration | ||
| SEBI registration | INZ000006031 | INZ000186937 |
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 Dhan and HDFC Securities (HDFC Sky) pages.
Dhan and HDFC Securities (HDFC Sky) strengths and things worth checking
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.
HDFC Securities (HDFC Sky)
Strengths
- Flat ₹20 cap
- SME IPOs
- ₹0 account opening
Worth checking
- AMC after year one
₹20 a month plus GST from the second year.
- Two MTF rates published
The pricing page says 1% a month and the support page says 15% a year. Confirm before you use margin funding.
- DP charge
₹20 per sale.
Brokerage calculator: Dhan vs HDFC Securities (HDFC Sky)
| Charge | Dhan | HDFC Securities (HDFC Sky) |
|---|
Ours, with NSE rates. Change the trade to see what Dhan and HDFC Securities (HDFC Sky) would each charge.
Other comparisons
Every comparison with Dhan or HDFC Securities (HDFC Sky), or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Dhan or HDFC Securities (HDFC Sky)?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹14.75 in broker charges at Dhan and ₹47.20 at HDFC Securities (HDFC Sky) (our calculation). For two SME lots worth ₹2,50,000: Dhan ₹14.75, HDFC Securities (HDFC Sky) ₹47.20 (our calculation, brokerage and DP charge with GST).
How much would the difference between Dhan and HDFC Securities (HDFC Sky) be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Dhan costs ₹389.40 less in broker charges (our calculation). Add the yearly AMC: Dhan: ₹0 for individuals and HUFs; HDFC Securities (HDFC Sky): ₹0 for the first year, then ₹20 a month plus GST.
Can I apply for SME IPOs on Dhan and HDFC Securities (HDFC Sky)?
Both let you apply for SME IPOs.
What is the demat AMC at Dhan and HDFC Securities (HDFC Sky)?
Dhan: ₹0 for individuals and HUFs. HDFC Securities (HDFC Sky): ₹0 for the first year, then ₹20 a month plus GST.
What brokerage do Dhan and HDFC Securities (HDFC Sky) charge when I sell IPO shares?
Selling allotted shares is a delivery trade. On a ₹15,000 sale the brokerage with GST is ₹0.00 at Dhan and ₹23.60 at HDFC Securities (HDFC Sky) (our calculation from their published rates).