dhan-vs-upstox

Do you need help to choose between Dhan and Upstox? In this Dhan vs Upstox review, I will share all the essential Dhan vs Upstox points to give you the clarity you need to choose between the two.

Dhan vs Upstox: Company Overview

dhan-vs-upstox

Pravin Jadhav founded Dhan in 2021 as a platform for investment and trading in Stocks, ETFs, Futures & Options, Commodities, and Currency. Dhan is a SEBI-registered discount broker. The platform is undoubtedly a top-rated trading platform in India, and it's interesting how it emerged as a popular stock broker in such a short span of time through its powerful marketing.

dhan-vs-upstox

Upstox entered the industry in 2009 and is a SEBI-registered online broker. Upstox follows a discount broking model and is considered one of India's most reliable trading platforms. The platform allows you to trade and invest in Stocks, IPOs, Mutual Funds, F&O, Commodity, and Currency. 

Dhan vs Upstox: Charges

Dhan doesn't charge any fee on account opening; besides, the platform doesn't charge any AMC. It may seem too good to be true, but the platform has been really generous about these charges. 

dhan-vs-upstox

Regarding the brokerage charges, Dhan charges minimal brokerage fees on different segments. The brokerage model of Dhan looks like this:

  • Equity Delivery: ₹0 brokerage charges
  • Equity Intraday, and all segments Futures: ₹20 or 0.03% of trade value, whichever is lower 
  • All segment Options: ₹20 per executed order

Upstox charges ₹0 on account opening and charges ₹0 Annual Demat Maintenance Charges. Upstox's brokerage charges are:

  • Equity Delivery: ₹20 or 2.5% (whichever is lower) per order
  • Mutual Funds: ₹0 brokerage Charges on
  • Equity Intraday, F&O, Currency, and Commodity: ₹20 or 0.05% (whichever is lower)
dhan-vs-upstox

Dhan vs Upstox: Trading Applications

Dhan Trading Platforms

Dhan Web

dhan-vs-upstox

Dhan Web is a Web app you can access through your browser, and it's ideal for laptop and pc users. The app offers an intuitive interface for trading, a lovely market overview, and many handy tools for trading and investment. The app comes with advanced charting tools, including Tradingview and ChartIQ. Besides, Dhan Web comes with over 100 technical indicators, multiple order types, and a watchlist. Further, Dhan offers many other advanced features like Trader's Diary, webhooks, and free APIs

Dhan Options Trader Web

dhan-vs-upstox

Dhan Options Trader Web is another Dhan app with dedicated features for advanced Options traders. When I say Options traders, I mean those who are into two-legged strategies. The app has a lot for such traders with features like Pre-Built Strategies, Staddle Chain, Strategy Builder, and OI Gainers and Losers. However, if you aren't into two-legged strategies, it may not be wise to use this app since it comes with comprehensive features, many of which will not be helpful to directional one-legged Options traders.

Dhan Tradingview

dhan-vs-upstox

Dhan Tradingview is another commendable initiative by the platform to make trading more flexible. Dhan's Tradingview feature lets you integrate your Dhan account into an external Tradingview chart. Many experts believe the Tradingview charting tool online brokers provide gets updated a little later than the Tradingview app. Hence, you can use your external Tradingview app with Dhan and place and manage orders from the Tradingview app itself. 

Dhan App

dhan-vs-upstox

Dhan App is the mobile version of Dhan Web and has all the comprehensive features of Dhan Web. Besides, the app comes with 2-factor authentication. The interface is just as clean as the Dhan Web app. However, I found it a little buggy, as I got logged out once after placing my order. Hence, you must use it only after this bug is fixed.

Dhan Options Trader App

dhan-vs-upstox

Dhan Options Trader App is Dhan's Mobile app with advanced Options trading features. I found the interface intimidating since the app has too many features. It can be a good app for advanced Options traders since it comes with Pre-Built Strategies, Staddle Chain, Strategy Builder, and OI Gainers and Losers. While advanced Options traders benefit significantly from this application, beginners and intermediates can stick to the Dhan app.

Upstox Trading Applications

Upstox Pro Web

dhan-vs-upstox

Upstox Pro Web is the ideal app for trading from laptops. The interface is exceptionally balanced, with valuable features, including an excellent market overview. Interestingly, the platform is equally suitable for trading and investing with advanced trading tools like Tradingview and ChartIQ. Besides, the platform has multiple watchlists and order types like GTT. Further, Upstox Pro comes with Ready-made Options Strategies and advanced Options traders can benefit largely from it. 

Upstox Pro Mobile

dhan-vs-upstox

Upstox Pro Mobile is one of the most reliable mobile trading applications, with all the comprehensive features available in the Upstox Pro Web. The app is highly usable, and order execution is fast. Besides, users can seamlessly use Tradingview or ChartIQ charting tools on the Upstox Pro Mobile app. Again, you can make the most of Upstox's news and market overview. Besides, Upstox Pro has advanced order types like GTT, allowing users to place StopLoss and Target while placing a buy order. However, I strongly feel Upstox can work on making order placement quicker.

Dhan vs Upstox: Pros & Cons

Dhan Pros & Cons

ProsCons
₹0 charges on account opening, and ₹0 AMC
The mobile app logs out anytime
₹0 brokerage fee on Equity Delivery
Different applications to trade, including web, and mobile apps
Minimal brokerage charges 
Application with dedicated features for Options trading
Excellent Customer Support through live chat, tickets, and phone

Upstox Pros & Cons

ProsCons
Zero account opening charge and AMC Equity Delivery is not brokerage-free
Advanced order types like GTT
Ready-mage Options strategies
Sensibull integration 
Tradingview and ChartIQ charting tools
The best-in-class customer support through live chat, phone, and tickets

You may also like to read: Dhan vs Zerodha

Conclusion

I have walked you through some of the crucial Dhan vs Upstox points. After reading the post, you should gain good clarity in choosing between the two. However, you must know your trading requirements well before that and choose one that offers the best features to meet your needs. 

Dhan vs Upstox Frequently Asked Questions

Does Upstox offer tools for technical analysis?

Yes, Upstox provides technical analysis tools that allow users to analyze historical price and volume data to make informed trading decisions.

How can I manage market risk while trading on Upstox?

Market risk management involves using strategies such as diversification, setting stop-loss orders, and staying informed about market trends to minimize potential losses.

How can I contact Upstox customer service?

You can reach Upstox customer service through their official website, email, phone, or chat support options for assistance with your account, trading-related queries, or technical issues.

What is the Dhan trading platform?

The Dhan trading platform is an online platform that enables users to trade various financial instruments, such as stocks, commodities, and derivatives, providing tools and resources for investing and trading.

How do I open a demat account on the Dhan platform?

To open a demat and trading account on the Dhan platform, you typically need to visit their official website, follow the account opening process, provide necessary documents, and complete verification steps as required.

Can I engage in option trading on the Dhan platform?

Yes, the Dhan platform may support option trading, enabling users to buy and sell option contracts based on various underlying assets, such as stocks.

How to invest in a mutual fund in Upstox?

To invest in mutual funds through Upstox:

  1. Open a Upstox Demat Account.
  2. Log in to your account.
  3. Complete your KYC details.
  4. Explore and choose mutual funds.
  5. Place an investment order.
  6. Make the payment from your linked bank account.
  7. Allotment of mutual fund units to your account.
  8. Monitor your investment's performance.

What is a depository participant? 

A depository participant is an entity that acts as an intermediary between the depository (where securities are held in electronic form) and the investors.

How does a brokerage calculator work? 

A brokerage calculator helps traders and investors calculate the costs associated with their trades, including brokerage fees and other charges.

What is algo trading? 

Algorithmic trading, or algo trading, involves using computer algorithms to automate trading decisions, aiming for efficiency and speed.

Leave a Reply

Your email address will not be published. Required fields are marked *