DalalScope Brokerage calculator

Upstox vs Dhan: which is cheaper?

Dhan is cheaper for delivery. They cost about the same (within ₹1) for intraday, futures, options, currency futures, currency options, commodity futures and commodity options. On a ₹1 lakh delivery buy and sell, Upstox costs ₹293.28 and Dhan ₹237.23 including taxes and the DP charge.

Checked 31 Oct 2026. Totals include 18% GST, STT, exchange and SEBI fees, stamp duty and the DP charge on delivery sells.

Who is cheaper, segment by segment

Each trade is one buy order and one sell order at the size shown.

Segment and tradeUpstoxDhanCheaper
Equity delivery₹1 lakh buy + sell₹293.28₹237.23Dhan by ₹56.05
Equity intraday₹1 lakh buy + sell₹82.68₹82.68About the same
Equity futures₹10 lakh contract₹612.75₹612.75About the same
Equity options₹10,000 premium, buy + sell₹70.91₹70.91About the same
Currency futures₹85,000 contract, buy + sell₹48.19₹48.19About the same
Currency options₹1,000 premium₹47.94₹47.94About the same
Commodity futures₹6 lakh contract, buy + sell₹150.35₹150.35About the same
Commodity options₹10,000 premium₹62.39₹62.39About the same

Upstox vs Dhan on your own trade

Enter your own trade size. Totals include brokerage, 18% GST, STT, exchange and SEBI fees, stamp duty and, on delivery sells, the DP charge.

On this tradeUpstoxDhan
Brokerage₹40.00₹0.00
GST on brokerage₹7.20₹0.00
STT₹200.00₹200.00
Exchange and SEBI fees, with GST₹7.48₹7.48
Stamp duty₹15.00₹15.00
DP charge on the sell₹23.60₹14.75
Total₹293.28₹237.23

Dhan is ₹56.05 cheaper on this trade.

Small and large trades

Flat-fee plans cost the same at any size; percentage and per-lot plans grow with the trade.

TradeUpstoxDhanCheaper
Equity delivery₹10,000, buy + sell₹93.05₹37.00Dhan by ₹56.05
Equity delivery₹5 lakh, buy + sell₹1,183.21₹1,127.16Dhan by ₹56.05
Equity delivery₹25 lakh, buy + sell₹5,632.83₹5,576.78Dhan by ₹56.05
Equity intraday₹5 lakh, buy + sell₹224.61₹224.61About the same
Equity intraday₹25 lakh, buy + sell₹934.23₹934.23About the same
Equity futures₹25 lakh contract, buy + sell₹1,461.07₹1,461.07About the same
Equity options₹25,000 premium, 5 lots, buy + sell₹106.47₹106.47About the same
Equity options₹1 lakh premium, 20 lots, buy + sell₹284.29₹284.29About the same

Rate cards side by side

ChargeUpstoxDhan
Equity delivery₹20 per order₹0
Equity intraday₹20 or 0.1% (whichever is lower)₹20 or 0.03% (whichever is lower)
Equity futures₹20 or 0.05% (whichever is lower)₹20 per order
Equity options₹20 per order₹20 per order
Currency futures₹20 or 0.05% (whichever is lower)₹20 or 0.03% (whichever is lower)
Currency options₹20 per order₹20 per order
Commodity futures₹20 or 0.05% (whichever is lower)₹20 per order
Commodity options₹20 per order₹20 per order
DP charge per sell₹23.60₹14.75
Demat AMC₹300/yr₹0

Check before you choose

Upstox

  • Delivery costs a flat ₹20 per order, even on a small buy.
  • Stock F&O that ends in physical settlement: 0.25% brokerage on the settled value (0.1% if netted off).
  • Auto square-off and call & trade: ₹75 + GST per order.

Dhan

  • F&O that goes to physical delivery costs 0.10% of contract value.
  • Free delivery, ETFs and IPOs; zero AMC for individuals.
  • Auto square-off ₹20 + GST; call & trade ₹50 + GST.

Common questions

Which is cheaper, Upstox or Dhan?

Dhan is cheaper for delivery. They cost about the same (within ₹1) for intraday, futures, options, currency futures, currency options, commodity futures and commodity options. On a ₹1 lakh delivery buy and sell, Upstox costs ₹293.28 and Dhan ₹237.23 including taxes and the DP charge. Rates checked 31 Oct 2026.

More comparisons

Cheapest broker by segment