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
ICICI DirectSEBI INZ000183631
- Account opening
- ₹0 to ₹975
- Demat AMC
- ₹0 year 1, then ₹700/yr
- SME IPOs
- Yes
- Delivery brokerage
- Depends on plan
- Cost to sell ₹15,000 of IPO shares
- Not publishedBrokerage and DP with GST, ours
Where Dhan and ICICI Direct differ
4 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Dhan | ICICI Direct |
|---|---|---|
| One mainboard lot, ₹15,000Difference not worked out: a charge is not published | ₹14.75 | Not published |
| Two SME lots, ₹2,50,000Difference not worked out: a charge is not published | ₹14.75 | Not published |
| A year: 12 mainboard lots soldDifference not worked out: a charge is not published | ₹177.00 | Not published |
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.
- Account opening: ₹0 for individuals and HUFs at Dhan, ₹0 to ₹975, depending on the account type at ICICI Direct.
- Equity delivery brokerage: ₹0 at Dhan, Depends on the plan at ICICI Direct.
- DP charge on selling shares: ₹12.50 plus GST per instruction per ISIN at Dhan, not stated at ICICI Direct.
The same at both: demat maintenance (AMC), Mainboard IPOs and SME IPOs.
Dhan vs ICICI Direct: charges side by side
Differs 4 of 7 charges differ between Dhan and ICICI Direct. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Dhan | ICICI Direct |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 for individuals and HUFs | ₹0 to ₹975, depending on the account type |
| Demat maintenance (AMC) | ₹0 for individuals and HUFs (₹800 plus GST for NRIs, companies, LLPs, firms and trusts) | ₹0 in the first year, ₹700 plus taxes from the second year |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, free, with UPI | Yes, on ICICI Direct with UPI, or through ICICI Bank net banking (ASBA) |
| SME IPOs | Yes, SME IPOs can be applied for with mobile UPI | Yes, the SME IPO page links to applying through UPI |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹0 | Depends on the plan; not stated on the page we checked. Prime plans say "as low as 0.07%" |
| DP charge on selling shares | ₹12.50 plus GST per instruction per ISIN | Not stated on the pages we checked |
| Registration | ||
| SEBI registration | INZ000006031 | INZ000183631 |
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 ICICI Direct pages.
Dhan and ICICI Direct 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.
ICICI Direct
Strengths
- Bank-linked
- ₹0 futures brokerage on Neo
Worth checking
- Higher AMC
₹700 plus taxes a year from the second year.
- Account opening fee
Up to ₹975, depending on the account type.
- Delivery and DP charges not on the page
Ask ICICI Direct for the delivery brokerage and DP charge on your plan before you sell IPO shares.
Brokerage calculator: Dhan vs ICICI Direct
| Charge | Dhan | ICICI Direct |
|---|
Ours, with NSE rates. Change the trade to see what Dhan and ICICI Direct would each charge.
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Every comparison with Dhan or ICICI Direct, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Dhan or ICICI Direct?
ICICI Direct does not publish its DP charge, so the full cost of selling IPO shares cannot be compared. For two SME lots worth ₹2,50,000: Dhan ₹14.75, ICICI Direct Not published (our calculation, brokerage and DP charge with GST).
How much would the difference between Dhan and ICICI Direct be over a year?
Not in full, because ICICI Direct does not publish its DP charge.
Can I apply for SME IPOs on Dhan and ICICI Direct?
Both let you apply for SME IPOs.
Is account opening free at Dhan and ICICI Direct?
Dhan: ₹0 for individuals and HUFs. ICICI Direct: ₹0 to ₹975, depending on the account type.
What brokerage do Dhan and ICICI Direct 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 not published at ICICI Direct (our calculation from their published rates).