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
INDmoneySEBI INZ000305337
- Account opening
- ₹0
- Demat AMC
- ₹0
- SME IPOs
- No
- Delivery brokerage
- ₹20 or 0.1%, lower
- Cost to sell ₹15,000 of IPO shares
- ₹39.53Brokerage and DP with GST, ours
Where Dhan and INDmoney differ
4 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Dhan | INDmoney |
|---|---|---|
| One mainboard lot, ₹15,000₹24.78 less at Dhan | ₹14.75 | ₹39.53 |
| Two SME lots, ₹2,50,000₹30.68 less at Dhan | ₹14.75 | ₹45.43 |
| A year: 12 mainboard lots sold₹297.36 less at Dhan | ₹177.00 | ₹474.36 |
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.
- Equity delivery brokerage: ₹0 at Dhan, 0.1% or ₹20 per executed order, whichever is lower, minimum ₹2 at INDmoney.
- DP charge on selling shares: ₹12.50 plus GST per instruction per ISIN at Dhan, ₹18.50 plus GST per ISIN at INDmoney.
- SME IPOs: Yes, SME IPOs can be applied for with mobile UPI at Dhan, Not yet. INDmoney says it does not currently support SME IPOs at INDmoney.
The same at both: account opening, Demat maintenance (AMC) and Mainboard IPOs.
Dhan vs INDmoney: charges side by side
Differs 4 of 7 charges differ between Dhan and INDmoney. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Dhan | INDmoney |
|---|---|---|
| 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 |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, free, with UPI | Yes |
| SME IPOs | Yes, SME IPOs can be applied for with mobile UPI | Not yet. INDmoney says it does not currently support SME IPOs |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹0 | 0.1% or ₹20 per executed order, whichever is lower, minimum ₹2 |
| DP charge on selling shares | ₹12.50 plus GST per instruction per ISIN | ₹18.50 plus GST per ISIN (₹3.50 CDSL and ₹15 INDstocks; ₹3.25 and ₹15.25 for women) |
| Registration | ||
| SEBI registration | INZ000006031 | INZ000305337 |
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 Dhan and INDmoney pages.
Dhan and INDmoney 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.
INDmoney
Strengths
- ₹0 AMC and account opening
- Low minimum brokerage
Worth checking
- Desk orders are expensive
₹500 per order through the trading desk.
- DP charge
₹18.50 plus GST per sale.
- No SME IPOs yet
INDmoney says SME IPO applications are not supported at the moment.
Brokerage calculator: Dhan vs INDmoney
| Charge | Dhan | INDmoney |
|---|
Ours, with NSE rates. Change the trade to see what Dhan and INDmoney would each charge.
Other comparisons
Every comparison with Dhan or INDmoney, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Dhan or INDmoney?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹14.75 in broker charges at Dhan and ₹39.53 at INDmoney (our calculation). For two SME lots worth ₹2,50,000: Dhan ₹14.75, INDmoney ₹45.43 (our calculation, brokerage and DP charge with GST).
How much would the difference between Dhan and INDmoney be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Dhan costs ₹297.36 less in broker charges (our calculation). Add the yearly AMC: Dhan: ₹0 for individuals and HUFs; INDmoney: ₹0.
Can I apply for SME IPOs on Dhan and INDmoney?
Dhan lets you apply for SME IPOs; INDmoney does not support them yet.
What brokerage do Dhan and INDmoney 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 ₹17.70 at INDmoney (our calculation from their published rates).
What DP charge do Dhan and INDmoney take when I sell IPO shares?
For one sale of ₹15,000, with GST: ₹14.75 at Dhan; ₹21.83 at INDmoney (our calculation). It is charged on each sale from your demat account.