Dhan is ₹241.25 cheaper on a ₹50K delivery trade
| Trade type | Dhan | Kotak Securities | Gap |
|---|---|---|---|
| Delivery ₹50K round-trip | ₹126.26 | ₹367.51 | ₹241.25 |
| Intraday ₹1L round-trip | ₹83.23 | ₹59.63 | ₹23.60 |
| Futures ₹1L round-trip | ₹70.69 | ₹47.09 | ₹23.60 |
| Options ₹1L round-trip | ₹276.30 | ₹252.70 | ₹23.60 |
Dhan saves ₹6,327.00/yr
Dhan saves ₹28,231.20/yr
Kotak Securities saves ₹24,888.00/yr
| Charge | Dhan | Kotak Securities |
|---|---|---|
| Delivery Brokerage | ₹0 | 0.2% of trade value |
| Intraday Brokerage | 0.03% or ₹20, lower | 0.05% or ₹10, lower |
| F&O Futures Brokerage | 0.03% or ₹20, lower | ₹10/order |
| F&O Options Brokerage | Flat ₹20/order | ₹10/order |
| CDS Futures | 0.03% or ₹20, lower | ₹10/order |
| CDS Options | Flat ₹20/order | ₹10/order |
| Commodity Futures | 0.03% or ₹20, lower | ₹10/order |
| Commodity Options | Flat ₹20/order | ₹10/order |
| Charge | Dhan | Kotak Securities |
|---|---|---|
| DP Charge | ₹12.50 + 18% GST = ₹14.75 | 0.04% of value (min ₹20) |
| AMC | Free | ₹600/year |
| MF DP Charges | ₹12.50 + 18% GST = ₹14.75/ISIN | Free |
| Dematerialisation | ₹150 + GST/certificate | ₹250 + GST/certificate |
| Rematerialisation | ₹150 + GST/certificate | ₹300 + GST/certificate |
| Failed Demat Transaction | ₹50 + GST per failed instruction | ₹50 + GST per failed instruction |
| Charge | Dhan | Kotak Securities |
|---|---|---|
| MTF Interest Rate | 12.49% p.a. (~0.034%/day, tiered) | Plan-based: ~14.97% p.a. standard (~0.041%/day), ~9.69% p.a. pro |
| MTF Brokerage | 0.03% or ₹20, lower | Plan-based (0% to 0.30%) |
| MTF Conversion | Free | ₹25 + GST = ₹29.50 |
| MTF Pledging | ₹15 + GST = ₹17.70/ISIN | ₹20/request per ISIN |
| Charge | Dhan | Kotak Securities |
|---|---|---|
| Physical Settlement | 0.1% on contract value | ₹10/order (as per plan) |
| Physical Settlement (Netted) | 0.1% on netted settlement value | ₹10/order |
| Clearing Charges | Included in brokerage | Included in brokerage |
| Interest on Margin Shortfall | 0.05%/day on margin shortfall | 0.049%/day on margin shortfall |
| Pledge / Unpledge | Pledge: ₹15 + GST/ISIN (₹17.70); Unpledge: ₹15 + GST/ISIN (₹17.70) | ₹20/request per ISIN (pledge & unpledge) |
| Delayed Payment Interest | 0.0438%/day or 16.99% p.a. | 0.049%/day on outstanding debit |
| Off-Market Transfer | ₹12.50 + 18% GST = ₹14.75/scrip | 0.04% of securities value (min ₹20) |
| Charge | Dhan | Kotak Securities |
|---|---|---|
| Call & Trade | ₹50 + GST/order | ₹49 + GST/order = ₹57.82 |
| Auto Square-off | ₹20 + GST/order | ₹50 + GST/position = ₹59 |
| Payment Gateway | Free | ₹7 + GST/transaction = ₹8.26 |
| Instant Withdrawal | Free via UPI | N/A (bank transfer) |
| Corporate Action | Free | Free |
| API Access | Free (Dhan HQ API) | Free (Kotak Neo API) |
| API Brokerage | Same as regular trades | Same as regular trades |
| Charge | Dhan | Kotak Securities |
|---|---|---|
| Account Opening | Free | ₹99 |
| DDPI | ₹100 + 18% GST = ₹118 | ₹100 + GST = ₹118 |
| Account Reactivation | ₹50 + GST = ₹59 | ₹200 + GST = ₹236 |
| NPS | Not offered | Available |
| Charge | Dhan | Kotak Securities |
|---|---|---|
| DIS Slip | ₹100 + GST/booklet | ₹100 + GST/booklet |
| Physical CMR | ₹50 + GST | ₹75 + GST |
| P&L / Ledger (Digital) | Free (downloadable) | Free (downloadable) |
| P&L / Ledger (Physical) | Not available | ₹100 + GST per copy |
| Contract Note (Physical) | Not available | ₹30 + GST per contract note |
| Charge | Dhan | Kotak Securities |
|---|---|---|
| G-Sec / T-Bills | Not offered | Available on Neo platform |
| SLB | Not offered | Available |
| LAS | Not offered | Available via Kotak Bank |
| Charge | Dhan | Kotak Securities |
|---|---|---|
| Name Change | Free 5–7 working days | Free 24–48 working hours |
| Mobile & Email Change | Free Up to 48 working hours | Free |
| Address Change | Free | Free |
| Nominee Change | Adding: Free; Modification: ₹25 + GST (₹29.50) Up to 2 working days | Free |
| DOB Change | Free | Free |
| Bank Account Change | ₹25 + GST (₹29.50) Up to 48 working hours | Free |
| KYC Modification | Re-KYC: Free | Free |
| Cheque Bounce | ₹500 + 18% GST = ₹590 | Online: ₹350 + bank charges; Offline: ₹500 + bank charges |
Dhan launched in 2021 and is backed by Mirae Asset. It competes directly with Zerodha on pricing but differentiates with a slick mobile-first app and strong options analytics. Zero AMC gives it a slight cost edge over Zerodha for buy-and-hold investors who don't make frequent trades.
Full profile →Kotak Securities is the brokerage arm of Kotak Mahindra Bank, India's fourth-largest bank. It offers full-service brokerage with a strong research desk and dedicated relationship managers. For self-directed investors, the 0.2% delivery brokerage and ₹600 AMC make it significantly more expensive than discount brokers. Best suited to investors who rely heavily on research and advisory.
Full profile →Set your trade frequency, value, and segment to see who stays cheapest for your style.