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
ZerodhaSEBI INZ000031633
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹300/yr + GST
- SME IPOs
- Yes
- Delivery brokerage
- ₹0
- Cost to sell ₹15,000 of IPO shares
- ₹15.34Brokerage and DP with GST, ours
Where Dhan and Zerodha differ
3 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Dhan | Zerodha |
|---|---|---|
| One mainboard lot, ₹15,000₹0.59 less at Dhan | ₹14.75 | ₹15.34 |
| Two SME lots, ₹2,50,000₹0.59 less at Dhan | ₹14.75 | ₹15.34 |
| A year: 12 mainboard lots sold₹7.08 less at Dhan | ₹177.00 | ₹184.08 |
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, Free in the first year for resident individuals, then ₹300 a year plus… at Zerodha.
- DP charge on selling shares: ₹12.50 plus GST per instruction per ISIN at Dhan, ₹13 plus GST per scrip at Zerodha.
The same at both: account opening, Equity delivery brokerage, Mainboard IPOs and SME IPOs.
Dhan vs Zerodha: charges side by side
Differs 3 of 7 charges differ between Dhan and Zerodha. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Dhan | Zerodha |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 for individuals and HUFs | ₹0 for individual accounts (₹500 for NRI, partnership, LLP and corporate accounts) |
| Demat maintenance (AMC) | ₹0 for individuals and HUFs (₹800 plus GST for NRIs, companies, LLPs, firms and trusts) | Free in the first year for resident individuals, then ₹300 a year plus GST, charged quarterly |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, free, with UPI | Yes, through Kite or Console with a UPI mandate |
| SME IPOs | Yes, SME IPOs can be applied for with mobile UPI | Yes, NSE and BSE SME IPOs through UPI. Only one bid per SME IPO, and no net banking fallback if the UPI payment fails |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹0 | ₹0 |
| DP charge on selling shares | ₹12.50 plus GST per instruction per ISIN | ₹13 plus GST per scrip (₹3.50 CDSL, ₹9.50 Zerodha); ₹15.34 with GST |
| Registration | ||
| SEBI registration | INZ000006031 | INZ000031633 |
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 Zerodha pages.
Dhan and Zerodha 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.
Zerodha
Strengths
- ₹0 brokerage on delivery
- Lower DP charge
- SME IPOs on both exchanges
Worth checking
- AMC after the first year
₹300 a year plus GST for a regular demat account.
- SME IPO limits
One bid per SME IPO, and if the UPI payment fails you cannot apply by net banking.
- Dealer orders cost extra
₹50 per order through call and trade or auto square-off.
Brokerage calculator: Dhan vs Zerodha
| Charge | Dhan | Zerodha |
|---|
Ours, with NSE rates. Change the trade to see what Dhan and Zerodha would each charge.
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Every comparison with Dhan or Zerodha, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Dhan or Zerodha?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹14.75 in broker charges at Dhan and ₹15.34 at Zerodha (our calculation). For two SME lots worth ₹2,50,000: Dhan ₹14.75, Zerodha ₹15.34 (our calculation, brokerage and DP charge with GST).
How much would the difference between Dhan and Zerodha be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Dhan costs ₹7.08 less in broker charges (our calculation). Add the yearly AMC: Dhan: ₹0 for individuals and HUFs; Zerodha: Free in the first year for resident individuals, then ₹300 a year plus….
Can I apply for SME IPOs on Dhan and Zerodha?
Both let you apply for SME IPOs.
What is the demat AMC at Dhan and Zerodha?
Dhan: ₹0 for individuals and HUFs. Zerodha: Free in the first year for resident individuals, then ₹300 a year plus….
What DP charge do Dhan and Zerodha take when I sell IPO shares?
For one sale of ₹15,000, with GST: ₹14.75 at Dhan; ₹15.34 at Zerodha (our calculation). It is charged on each sale from your demat account.