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
PhonePe Invest (Share.Market)SEBI INZ000302639
- Account opening
- Not stated
- Demat AMC
- Not stated
- SME IPOs
- Not stated
- Delivery brokerage
- ₹20 or 0.05%, lower
- Cost to sell ₹15,000 of IPO shares
- Not publishedBrokerage and DP with GST, ours
Where Dhan and PhonePe Invest (Share.Market) differ
6 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Dhan | PhonePe Invest (Share.Market) |
|---|---|---|
| One mainboard lot, ₹15,000Brokerage ₹8.85 less at Dhan; a DP charge is not published | ₹14.75 | ₹8.85 brokerage; DP charge not published |
| Two SME lots, ₹2,50,000Brokerage ₹23.60 less at Dhan; a DP charge is not published | ₹14.75 | ₹23.60 brokerage; DP charge not published |
| A year: 12 mainboard lots soldBrokerage ₹106.20 less at Dhan; a DP charge is not published | ₹177.00 | ₹106.20 brokerage; DP charge 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, not stated at PhonePe Invest (Share.Market).
- Demat maintenance (AMC): ₹0 for individuals and HUFs at Dhan, not stated at PhonePe Invest (Share.Market).
- Equity delivery brokerage: ₹0 at Dhan, ₹20 or 0.05% per executed order, whichever is lower at PhonePe Invest (Share.Market).
- DP charge on selling shares: ₹12.50 plus GST per instruction per ISIN at Dhan, not stated at PhonePe Invest (Share.Market).
- SME IPOs: Yes, SME IPOs can be applied for with mobile UPI at Dhan, not stated at PhonePe Invest (Share.Market).
The same at both: mainboard IPOs.
Dhan vs PhonePe Invest (Share.Market): charges side by side
Differs 6 of 7 charges differ between Dhan and PhonePe Invest (Share.Market). Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Dhan | PhonePe Invest (Share.Market) |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 for individuals and HUFs | Not stated on the pages we checked |
| Demat maintenance (AMC) | ₹0 for individuals and HUFs (₹800 plus GST for NRIs, companies, LLPs, firms and trusts) | Not stated on the pages we checked |
| 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 | ₹20 or 0.05% per executed order, whichever is lower |
| DP charge on selling shares | ₹12.50 plus GST per instruction per ISIN | Not stated on the pages we checked |
| Registration | ||
| SEBI registration | INZ000006031 | INZ000302639 |
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 PhonePe Invest (Share.Market) pages.
Dhan and PhonePe Invest (Share.Market) 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.
PhonePe Invest (Share.Market)
Strengths
- Low cap on small orders
Worth checking
- Account and DP charges not on the tariff page
The tariff page we read lists no account opening, AMC or DP charge.
- Dealer orders
₹30 extra per order for call and trade or auto square-off.
Brokerage calculator: Dhan vs PhonePe Invest (Share.Market)
| Charge | Dhan | PhonePe Invest (Share.Market) |
|---|
Ours, with NSE rates. Change the trade to see what Dhan and PhonePe Invest (Share.Market) would each charge.
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Every comparison with Dhan or PhonePe Invest (Share.Market), or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Dhan or PhonePe Invest (Share.Market)?
PhonePe Invest (Share.Market) does not publish its DP charge, so the full cost of selling IPO shares cannot be compared. On brokerage alone, one mainboard lot (₹15,000) costs ₹8.85 less at Dhan (our calculation). For two SME lots worth ₹2,50,000: Dhan ₹14.75, PhonePe Invest (Share.Market) ₹23.60 brokerage; DP charge not published (our calculation, brokerage and DP charge with GST).
How much would the difference between Dhan and PhonePe Invest (Share.Market) be over a year?
Not in full, because PhonePe Invest (Share.Market) does not publish its DP charge. On brokerage alone, 12 mainboard lots of ₹15,000 cost ₹106.20 less at Dhan (our calculation).
Can I apply for SME IPOs on Dhan and PhonePe Invest (Share.Market)?
Dhan lets you apply for SME IPOs; PhonePe Invest (Share.Market) does not say so on the pages we checked.
Is account opening free at Dhan and PhonePe Invest (Share.Market)?
Dhan: ₹0 for individuals and HUFs. PhonePe Invest (Share.Market): not stated.
What is the demat AMC at Dhan and PhonePe Invest (Share.Market)?
Dhan: ₹0 for individuals and HUFs. PhonePe Invest (Share.Market): not stated.