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
IIFL CapitalSEBI INZ000164132
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹250/yr + GST
- SME IPOs
- Not stated
- Delivery brokerage
- 0.25%
- Cost to sell ₹15,000 of IPO shares
- ₹73.75Brokerage and DP with GST, ours
Where Dhan and IIFL Capital differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Dhan | IIFL Capital |
|---|---|---|
| One mainboard lot, ₹15,000₹59.00 less at Dhan | ₹14.75 | ₹73.75 |
| Two SME lots, ₹2,50,000₹752.25 less at Dhan | ₹14.75 | ₹767.00 |
| A year: 12 mainboard lots sold₹708.00 less at Dhan | ₹177.00 | ₹885.00 |
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): ₹0 for individuals and HUFs at Dhan, ₹0 in the first year, then ₹250 plus GST a year at IIFL Capital.
- Equity delivery brokerage: ₹0 at Dhan, 0.25% at IIFL Capital.
- DP charge on selling shares: ₹12.50 plus GST per instruction per ISIN at Dhan, ₹25 plus GST per scrip at IIFL Capital.
- SME IPOs: Yes, SME IPOs can be applied for with mobile UPI at Dhan, not stated at IIFL Capital.
The same at both: account opening and Mainboard IPOs.
Dhan vs IIFL Capital: charges side by side
Differs 5 of 7 charges differ between Dhan and IIFL Capital. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Dhan | IIFL Capital |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 for individuals and HUFs | ₹0 |
| Demat maintenance (AMC) | ₹0 for individuals and HUFs (₹800 plus GST for NRIs, companies, LLPs, firms and trusts) | ₹0 in the first year, then ₹250 plus GST a year |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, free, with UPI | Yes |
| SME IPOs | Yes, SME IPOs can be applied for with mobile UPI | Not stated on the pages we checked |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹0 | 0.25% |
| DP charge on selling shares | ₹12.50 plus GST per instruction per ISIN | ₹25 plus GST per scrip |
| Registration | ||
| SEBI registration | INZ000006031 | INZ000164132 |
For other trading, equity intraday, Futures and Margin trading (MTF) interest differ too. Intraday, futures, call and trade and margin charges are on the Dhan and IIFL Capital pages.
Dhan and IIFL Capital 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.
IIFL Capital
Strengths
- Full-service support
- Lower AMC
Worth checking
- Percentage brokerage on delivery
0.25% with no cap: ₹37.50 on a ₹15,000 sale.
- DP charge
₹25 plus GST per sale.
- System square-off
₹100 per order.
Brokerage calculator: Dhan vs IIFL Capital
| Charge | Dhan | IIFL Capital |
|---|
Ours, with NSE rates. Change the trade to see what Dhan and IIFL Capital would each charge.
Other comparisons
Every comparison with Dhan or IIFL Capital, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Dhan or IIFL Capital?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹14.75 in broker charges at Dhan and ₹73.75 at IIFL Capital (our calculation). For two SME lots worth ₹2,50,000: Dhan ₹14.75, IIFL Capital ₹767.00 (our calculation, brokerage and DP charge with GST).
How much would the difference between Dhan and IIFL Capital be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Dhan costs ₹708.00 less in broker charges (our calculation). Add the yearly AMC: Dhan: ₹0 for individuals and HUFs; IIFL Capital: ₹0 in the first year, then ₹250 plus GST a year.
Can I apply for SME IPOs on Dhan and IIFL Capital?
Dhan lets you apply for SME IPOs; IIFL Capital does not say so on the pages we checked.
What is the demat AMC at Dhan and IIFL Capital?
Dhan: ₹0 for individuals and HUFs. IIFL Capital: ₹0 in the first year, then ₹250 plus GST a year.
What brokerage do Dhan and IIFL Capital 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 ₹44.25 at IIFL Capital (our calculation from their published rates).