Upstox vs Dhan
Side by side comparison of active clients, charges, and regulatory track records.
Detailed head to head comparison
| Metric | Upstox | Dhan |
|---|---|---|
| Broker Type | Discount | Discount |
| Active Clients | - | - |
| Market Share | - | - |
| Complaints per 10k clients | - | - |
| Complaint Resolution | - | - |
| Reliability Score | 93.6/100 | 83.3/100 |
| Delivery Brokerage | - | - |
| Intraday Brokerage | - | - |
| F&O Brokerage | - | - |
| Demat AMC / Year | - | - |
| Account Opening | Free | Free |
| Head Office | Mumbai | Mumbai |
| Founded | 2009 | 2021 |
| SEBI Registration | - | INZ000006031 |
| Segments | Equity delivery, Equity F&O, Currency, Commodity | Equity delivery, Equity F&O, Currency, Commodity |
| Defaulter List Status | No | No |
Frequently asked questions
How do brokerage charges compare between Upstox and Dhan?
For equity delivery, Upstox offers - while Dhan offers -. For intraday equity trades, Upstox charges - compared to Dhan at -.
Which broker has more active clients, Upstox or Dhan?
Upstox has - active clients (- market share) while Dhan has - active clients (- market share) based on primary NSE disclosures.
What are the account opening and Demat AMC fees for Upstox vs Dhan?
For Upstox, account opening is Free and annual Demat AMC is -. For Dhan, account opening is Free and annual Demat AMC is -.
Is Upstox or Dhan better for beginners?
Both Upstox and Dhan are SEBI-registered intermediaries. Beginners often look for low delivery brokerage, intuitive mobile apps, and prompt customer support. Compare delivery charges (- vs -) and complaint rates (- vs -) to decide which matches your investment style.
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Source: SEBI recognised-intermediary register, NSE monthly active client disclosures, and official broker rate cards. Methodology · Sources & lineage · All comparisons