Dhan Charges & Brokerage Review 2026
Dhan Charges & Brokerage Review 2025
Complete breakdown of all joining fees, brokerage fees, hidden charges, and transaction costs
Dhan, launched in 2021, is a relatively new discount broker focused on transparency and low costs for Indian investors. With a primarily digital presence and no physical branches, Dhan emphasizes online account opening and flat fee structures, making it attractive for active traders and long-term investors alike. Their approach ensures traders pay minimal charges, especially for delivery trades, and provides free research, APIs, and advanced order types, setting them apart in the competitive brokerage landscape.
Charges Overview
The overall charge structure of Dhan revolves around transparency and low fees. They follow a discount broker model, which means their primary focus is on offering low-cost trading options with minimal or zero account opening charges and flat brokerage fees. Their philosophy emphasizes simplicity and fairness, making it easy for traders to understand their costs upfront. Unlike traditional brokers that may have hidden fees or high commissions, Dhan’s transparent fee structure allows investors to plan their trades more effectively. This approach particularly appeals to small investors, beginners, and high-frequency traders who benefit from flat charges and no hidden costs.
Key selling points include free research reports, no account opening fees, and no charges for Demat account maintenance. Their brokerage charges are competitive, with zero for equity delivery and flat Rs.20 or 0.03% for intraday and F&O trades, with caps in place. Such a straightforward fee model ensures traders are not surprised by unexpected costs, making Dhan a popular choice among cost-conscious investors.
Account Opening
One-time account opening fee for individual investors
Annual Maintenance
Annual maintenance charges for trading account
Equity Delivery
Brokerage charges for equity delivery trades
Brokerage Plans & Subscriptions
Dhan offers a simple, flat-fee brokerage plan aimed at active traders. Their main plan involves a flat Rs.20 or 0.03% (whichever is lower) fee for intraday and F&O trades, with a maximum cap of Rs.20 per trade. Equity delivery trades are completely free of brokerage charges, making it highly suitable for long-term investors. They also provide subscription-based services like APIs, research reports, and advanced order types which are generally free or low-cost. For high-volume traders, their flat fee structure helps minimize costs regardless of trade size, encouraging frequent trading without fear of escalating commissions.
The platform also supports features like GTT orders, bracket, cover, trailing stop loss, and iceberg orders, making it attractive for both retail and professional traders. Their transparent fee model, combined with free research and advanced tools, positions Dhan as a compelling discount broker for cost-effective trading.
| Plan | Details |
|---|---|
| Per Trade | Flat Rs.20 or 0.03% (whichever is lower), capped at Rs.20 |
Overall, Dhan’s brokerage plans are designed for traders who seek low, predictable costs, especially beneficial for frequent traders and high-volume investors.
Account Opening Charges
The account opening process at Dhan is fully digital with instant e-KYC verification, making it quick and hassle-free. For individual investors, there is no account opening fee, which encourages new traders to start without upfront costs. The required documents include PAN, Aadhaar, bank proof, signature, and income proof for F&O trading. For NRI clients, offline application options are available, with a one-time account setup fee of ₹0, and the process is similarly straightforward. For corporate accounts, the charges are also ₹0, but AMC applies.
Compared to traditional brokers that may charge ₹300-₹500 for account opening, Dhan’s zero-fee policy makes it highly attractive, especially for beginners and cost-sensitive investors. The process is instant with online eKYC, and documents are verified via Digilocker, further simplifying onboarding.
| Charge Type | Amount | Description |
|---|---|---|
| Individual Account | ₹0 | One-time fee for individual investors |
| Corporate Account | ₹0 | Account opening for corporate entities |
| NRI Account | ₹0 | Specialized NRI trading account |
| Demat Account | ₹0 | Demat account opening charges |
Brokerage Structure
Dhan operates on a discount brokerage model, focusing on flat, transparent charges across various segments. Their equity delivery trades are free, while intraday and derivatives are charged at Rs.20 or 0.03%, with a maximum cap of Rs.20 per order. For options, they charge Rs.20 per executed order, which is straightforward and predictable. Commodities and currency segments follow similar flat-rate structures, capped at Rs.20, making it easy for traders to calculate their costs upfront.
Their approach emphasizes affordability and simplicity, catering to traders who prefer fixed, transparent fees over percentage-based commissions. This model benefits active traders, who can execute numerous trades without incurring escalating costs, and long-term investors who benefit from zero brokerage on delivery trades.
Equity Trading Charges
| Segment | Brokerage | Max Cap |
|---|---|---|
| Equity Delivery | Rs.0 | N/A |
| Equity Intraday | Rs.20 or 0.03% | Rs.20 |
Dhan’s equity charges are among the lowest, especially for delivery. Active traders benefit from predictable costs, making it easier to plan their trading strategies.
Derivatives Trading Charges
| Segment | Brokerage | Max Cap |
|---|---|---|
| Equity Futures | Rs.20 or 0.03% | Rs.20 |
| Equity Options | Rs.20 per order | Rs.20 |
Trading derivatives with Dhan involves flat fees, with caps ensuring costs don’t escalate. This benefits traders who want predictability in their expenses.
Commodities Trading Charges
| Segment | Brokerage | Max Cap |
|---|---|---|
| Commodity Futures | Rs.20 or 0.03% | Rs.20 |
| Commodity Options | Rs.20 per order | Rs.20 |
Commodity trading charges are flat and capped at Rs.20, making it cost-effective for traders in this segment as well.
Currency Trading Charges
| Segment | Brokerage | Max Cap |
|---|---|---|
| Currency Futures | Rs.20 or 0.03% | Rs.20 |
| Currency Options | Rs.20 per order | Rs.20 |
Currency trading charges follow the same flat, capped model, ensuring traders know their maximum costs in advance.
Complete Breakdown: Government & Regulatory Charges
Dhan maintains transparency regarding regulatory and government charges. Transaction charges such as exchange transaction fees, SEBI charges, and stamp duty are clearly outlined. Exchange transaction charges are applied as per standard NSE/BSE rates, and SEBI levies are based on current SEBI rates. GST on brokerage and transaction charges is applicable at 18%, which is standard across brokers. DP charges of Rs.12.50+GST per scrip are also transparent, and all these charges are included in the final cost calculation, ensuring traders are aware of total costs upfront.
Investors should note that these regulatory charges are standard and unavoidable, but Dhan’s clear disclosure helps traders factor them into their cost planning. They do not impose hidden or unexpected fees, reinforcing their commitment to transparency.
For example, a typical trade involving Rs.50,000 worth of stocks might incur exchange transaction charges, SEBI fees, stamp duty, GST, and DP charges, which together contribute to the total cost. This level of clarity helps investors understand the real expense of each trade and plan accordingly.
Additional Services & Charges
Dhan offers a range of value-added services designed to enhance trading experience at minimal or no additional cost. Margin funding facilities are available with interest rates starting at 12.49% per annum, helping traders leverage their capital efficiently. Research services are provided free of charge, including fundamental and technical reports, which support traders in making informed decisions. Moreover, API access through DhanHQ is free, enabling algorithmic and advanced trading strategies.
The platform also supports Smart SIPs, basket SIPs, and goal-based investing, providing flexibility for long-term investors. Their advanced order types such as GTT, bracket, cover, trailing stop loss, and iceberg orders are available to active traders, broadening trading options without extra charges.
💰 Margin Funding
Interest Rate: 12.49% p.a.
Dhan’s margin funding allows traders to leverage their positions, offering competitive interest rates and quick approval processes to facilitate efficient trading.
📊 Research Services
Charges: Free (Fundamental and Technical reports)
Access to comprehensive research reports is included without additional fees, supporting informed decision-making for traders of all levels.
🔌 API Access
Charges: Free (DhanHQ API)
APIs enable traders to integrate their trading strategies seamlessly with third-party tools or develop custom algorithms.
NRI Services & Charges
Dhan offers specialized services for NRI clients, including offline account opening options and dedicated support. The one-time account setup fee for NRI accounts is ₹0, and annual maintenance charges are ₹800+GST. Repatriation charges are typically bank charges, which are not specified but are generally in line with standard bank fees. The platform supports PIS and Non-PIS accounts, with trading segments including equity delivery, mutual funds, and F&O (on non-PIS). The process for NRI account opening is straightforward, with documentation including PAN, Aadhaar, bank proof, and income proof for F&O trading, and can be completed within 24-48 hours.
This makes Dhan a viable option for NRIs seeking cost-effective and easy-to-manage trading accounts, especially since they support mutual fund investments and fund repatriation facilities.
| Service | Charges | Details |
|---|---|---|
| Account Opening | ₹0 | One-time NRI account setup |
| Annual Maintenance | ₹800+GST | Annual NRI account maintenance |
| Repatriation Charges | Bank charges | Fund transfer and repatriation fees |
Funds Transfer & Withdrawal
Dhan makes fund transfers easy with free NEFT, RTGS, and IMPS services. Withdrawals are processed within 24 hours through standard banking channels, with no charges for these transactions, ensuring quick and cost-free fund movements. Instant withdrawals are also available with no additional fee, providing traders quick access to their funds. The platform supports UPI, net banking, and other digital payment options, with daily deposit limits generally dictated by bank policies, but Dhan itself imposes no additional limits. This ease of transfer and withdrawal process encourages active trading without liquidity concerns.
Overall, Dhan prioritizes a seamless experience for funds movement, with transparent charges and fast processing times, making it suitable for traders who value quick access to their funds.
🏦 Bank Transfers
- NEFT Charges: Rs.0
- RTGS Charges: Rs.0
- IMPS Charges: Rs.0
⚡ Instant Withdrawal
Charges: Rs.0
Processing Time: Within 24 hours
💳 Payment Gateway
Charges: Rs.0 (UPI / Netbanking)
Daily Limit: No limit from Dhan
Trading Platforms & Technology
Dhan provides a robust trading platform with Dhan App for mobile users, offering a seamless trading experience with over 100+ chart indicators powered by TradingView. The mobile app has an average rating of 4.5 stars on iOS, providing smooth navigation, real-time data, and advanced charting tools. Their desktop platform, Dhan Desktop, offers comprehensive features suitable for professional traders, including advanced order types and market depth analysis. The web platform integrates with TradingView, allowing browser-based trading with real-time quotes and customizable dashboards. Overall, Dhan’s technology infrastructure is modern, user-friendly, and designed to meet the needs of both retail and active traders, leveraging the latest in trading technology to deliver a superior experience.
Their platforms are accessible in English and Hindi, supporting a wide user base across India, and are optimized for both beginner and expert traders.
Customer Support & Service
Dhan’s customer support is available via multiple channels, including phone, live chat, and email. Support is operational from 9 AM to 6 PM, Monday to Saturday, and is known for quick response times, especially through live chat where responses are often instant. Their support team is knowledgeable and responsive, addressing queries related to account management, trading issues, and technical assistance efficiently. They also offer support through a ticket system and email, ensuring comprehensive coverage for all clients. Although they do not have physical branches, their digital support channels are well-established, making it convenient for traders to get assistance whenever needed. This focus on responsive service enhances the overall trading experience at Dhan.
Investors can expect reliable support, especially during trading hours, which is crucial in fast-moving markets.
✅ Advantages
- Low, transparent charges suitable for active traders and long-term investors.
- Zero account opening and Demat AMC charges.
- Free research, APIs, and advanced order types enhance trading experience.
- Fully digital platform with no physical branches for easy access.
- Competitive brokerage rates for derivatives and commodities.
❌ Disadvantages
- Limited offline support and physical branch presence.
- Repatriation charges not explicitly disclosed.
- No advisory services included, suitable for self-directed traders.
- Some charges like GST on brokerage apply, which are standard but add to costs.
- May require some traders to familiarize with digital onboarding if new to online trading.
Editor’s Take
In my experience, Dhan’s fee structure is refreshingly straightforward and investor-friendly. Their zero account opening fee and flat brokerage rates make costs predictable, which is a major advantage for both beginners and active traders. The platform’s transparency and simplicity stand out in a crowded market dominated by brokers with hidden or complex fee structures. The inclusion of free research, APIs, and advanced order types adds significant value, especially for traders who prefer self-directed investing and algorithmic strategies.
Compared to traditional full-service brokers, Dhan’s focus on low costs and technology integration is a clear differentiator. Their fee model aligns well with industry standards for discount brokers, but their comprehensive platform features and free research reports provide added benefits that many competitors charge extra for. Overall, Dhan offers excellent value for money, particularly for those who trade frequently or seek a cost-effective, fully digital trading experience. For more insights on choosing the right broker, check our detailed comparison articles.
The Verdict
Based on my assessment, Dhan is an excellent choice for cost-conscious traders, active investors, and those comfortable with digital platforms. Their zero account opening charges and flat brokerage fees make it ideal for frequent trading, especially in intraday and derivatives segments where costs can quickly add up. Long-term investors benefit from free equity delivery trades and transparent charges, making it easier to hold and manage investments without worrying about hidden fees. While they lack physical branches, their robust online support and quick onboarding process compensate well for this limitation.
In terms of value, Dhan stands out among discount brokers, offering competitive rates with advanced tools and research. Investors seeking a transparent, low-cost platform should consider opening an account with Dhan. However, those requiring personalized advisory or offline support might explore full-service brokers. Overall, for traders who prioritize low costs and technological excellence, Dhan provides a compelling proposition. For more tips on selecting brokers based on charges, explore our comprehensive guides.
How Dhan Compares
Dhan’s charges are highly competitive within the Indian brokerage industry. Their account opening fee is zero, which is below the industry average of ₹400-₹500. Brokerage for equity delivery trades is completely free, significantly cheaper than traditional brokers charging 0.5% or more. For intraday and derivatives, their flat Rs.20 or 0.03% fee with a maximum cap of Rs.20 makes trading predictable and affordable. Industry averages for F&O might range from Rs.25-50 per trade, so Dhan’s flat fee is advantageous for high-volume traders.
Compared to other discount brokers like Zerodha and Groww, Dhan’s charges are similar, but their platform features, API access, and research services add extra value. While some competitors may offer slightly lower or similar fees, Dhan’s comprehensive digital approach and transparent structure make it a strong contender for cost-effective trading.
