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Upstox vs Dhan vs M.stock
In this article, we will review ‘Upstox vs Dhan vs M.stock‘ on the basis of Brokerage charges, Account maintenance charges, Investment options, Customer service, User reviews, Research and analysis, broker’s track record & reputation.
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Company Overview
| |
|
Company name
|
Upstox- RKSV Securities India Private Limited (RSIPL)
Dhan
Mirae Asset Capital Markets (India) Pvt Ltd |
|
Headquarters
|
Delhi
Mumbai
Mumbai |
|
Founder
|
Ravi Kumar
Mr Pravin Jadhav
Hyeon Joo Park |
|
Establishment Year
|
April 6, 2009
2021
June 1997 |
Account opening & AMC
| |
|
Account Opening Fee
The account opening fee, also known as account setup charges, refers to the one-time charge levied by a brokerage firm when you open a new Demat and trading account to invest in securities like stocks, bonds, or ETFs. These fees can vary depending on the type of account, the brokerage firm, and any current promotions or offers. |
₹0
₹0
₹999 (Zero brokerage for life) + ₹999 (Free AMC) |
|
Annual Maintenance Charges (AMC)
This is a yearly fee levied by the depository participant (DP) to maintain your Demat account, where your shares are held electronically. |
₹0
₹0
₹120 every quarter (Zero AMC by paying an additional ₹999, else ₹120 every quarter as AMC) |
Pledge Charges
| |
|
Pledge Creation Charges
|
₹20 + GST per scrip for Equity & ₹50 + GST per scrip for pledging Futures buy and sell and Options Sell orders only
₹ 12.5 / transaction / ISIN + GST
₹25 per PSN (Pledge Sequence Number) per day (+GST) for 'Lifetime free AMC' plan |
|
Pledge Invocation Charges
|
₹50 + GST per scrip for unpledging
₹ 12.5 / transaction / ISIN + GST
₹25 per PSN (Pledge Sequence Number) per day (+GST) for 'Lifetime free AMC' plan |
|
Interest on Margin Trading
|
₹20/day for every slab of ₹40,000 taken as MTF
0.0438% per day on outstanding MTF and non MTF debit and non maintenance of 50:50 margin
Up to ₹25 Lakhs: 9.99%, Above ₹25 Lakhs to ₹5 Crore: 8.99%, Above ₹5 Crore: 6.99% |
|
Margin Re-Pledge
|
₹20 + GST per scrip for Equity
₹ 12.5 / transaction / ISIN + GST
₹25 per PSN |
Brokerage charges & Fees
| |
|
Brokerage Plan
|
Standard
Standard
Lifetime free AMC' plan |
|
Equity Delivery Charges
|
₹20 or 2.5% whichever is lower
₹0
Zero |
|
Equity Intraday Charges
|
₹20 per executed order or 0.05% (whichever is lower)
₹20 or 0.03% per executed order whichever is lower
Zero |
|
Equity Futures charges
|
₹20 per executed order or 0.05% (whichever is lower)
₹20 or 0.03% per executed order whichever is lower
Zero |
|
Equity Options charges
|
Flat ₹20 per executed order
₹20 per executed order
Zero |
|
Currency Futures charges
|
₹20 per executed order or 0.05% (whichever is lower)
₹20 or 0.03% per executed order whichever is lower
Zero |
|
Currency Options charges
|
Flat ₹20 per executed order
₹20 per executed order
Zero |
|
Commodity Futures charges
|
₹20 per executed order or 0.05% (whichever is lower)
₹20 or 0.03% per executed order whichever is lower
Do not offer Commodity trading |
|
Commodity Options charges
|
Flat ₹20 per executed order
₹20 per executed order
Do not offer Commodity trading |
Customer services offered
| |
|
Demat Services
|
✅Yes
✅Yes
✅Yes |
|
Trading Services
|
✅Yes
✅Yes
✅Yes |
|
Intraday Services
|
✅Yes
✅Yes
✅Yes |
|
F&O Services
|
✅Yes
✅Yes
✅Yes |
|
IPO Services
|
✅Yes
✅Yes
✅Yes |
|
Share Pledging
|
✅Yes
✅Yes
✅Yes |
|
NRI Services
|
✅Yes
✅Yes
⛔ |
|
Referral Program
|
✅Yes
✅Yes
✅Yes |
Customer Support
| |
|
Call Support
|
022-41792999: All Trading Days – 8 am to 5 pm
+91 9987761000 (9:00 am to 6:00 pm on Market Trading days)
1800 210 0818 |
|
Email Support
|
support@upstox.com: All Trading Days – 8 am to 5 pm
help@dhan.co (24x7)
help@mstock.com |
|
Whatsapp Support
|
No
⛔No
⛔ |
|
Website Support
|
Yes, 8AM - 7PM IST, Monday - Saturday
✅Yes, 8 AM to 12 AM (Monday to Friday), 8 AM to 10 PM (Saturday & Sunday)
⛔ |
Leverage (Margin) Offered
| |
|
Equity Delivery Margin Leverage
|
No leverage available; you need the full purchase value in your account.
Upto 1.39x depending on the stock (lower leverage for volatile stocks)
No leverage available; you need the full purchase value in your account. |
|
Equity Intraday Margin Leverage
|
Leverage ranges from 1x to 5x depending on the stock (lower leverage for volatile stocks)
Upto 4x depending on the stock (lower leverage for volatile stocks)
Leverage ranges from 3x to 4x depending on the stock (lower leverage for volatile stocks) |
|
Equity F&O Intraday Margin Leverage
|
Leverage is 1.3x across all Equity F&O contracts
No leverage available; requires full margin upfront
No leverage available; you need the full purchase value in your account. |
|
Equity F&O Carry Forward Margin Leverage
|
No leverage available; requires full margin upfront
No leverage available; requires full margin upfront
No leverage available; you need the full purchase value in your account. |
|
Currency F&O Margin Leverage
|
Leverage is 1.3x across all Currency F&O contracts
No leverage available; requires full margin upfront
4x to 10x depending on the currency pair and contract type. |
|
Commodity F&O Intraday Margin Leverage
|
Leverage is 1.3x across all Commodity F&O contracts
No leverage available; requires full margin upfront
Does not offer trading in Commodity |
|
Commodity F&O Carry Forward Margin Leverage
|
No leverage available; requires full margin upfront
No leverage available; requires full margin upfront
Does not offer trading in Commodity |
Unique Offerings
| |
|
Free Account Opening
|
✅Yes
✅Yes
⛔No |
|
Free Brokerage
|
On Mutual Funds and IPOs only
✅Yes, On Equity Delivery, ETFs, IPO & Mutual Funds only
✅Yes |
|
Free AMC
|
✅Yes
✅Yes
✅Yes, on 'Lifetime free AMC' plan only |
|
Free Equity Delivery
|
⛔No
✅Yes
✅Yes |
|
Free F&O Trading
|
⛔No
⛔No
✅Yes |
|
Free Intraday Trading
|
⛔No
⛔No
✅Yes |
|
Free Trading calls
|
⛔No
⛔No
✅Yes |
|
Happy Trading Hours
|
⛔No
⛔No
⛔No |
|
Flexible Brokerage Plans
|
⛔No
✅Yes
✅Yes |
|
Referral Offers
|
✅Yes
✅Yes
✅Yes |
|
Margin Funding (MTF)/ Pledging
|
✅Yes
✅Yes
✅Yes |
|
Brokerage Cashback
|
⛔No
⛔No
⛔No |
|
Zero Brokerage for Loss Making Trades
|
⛔No
⛔No
⛔No |
|
Relationship Manager
|
⛔No
⛔No
⛔No |
Services Provided
| |
|
Equity Delivery
|
✅Yes
✅Yes
✅Yes |
|
Equity Intraday
|
✅Yes
✅Yes
✅Yes |
|
Equity Futures
|
✅Yes
✅Yes
✅Yes |
|
Equity Options
|
✅Yes
✅Yes
✅Yes |
|
Currency Futures
|
✅Yes
✅Yes
✅Yes |
|
Currency Options
|
✅Yes
✅Yes
✅Yes |
|
Commodity Futures
|
✅Yes
✅Yes
⛔No |
|
Commodity Options
|
✅Yes
✅Yes
⛔No |
|
Foreign Stocks
|
⛔No
⛔No
⛔No |
|
Mutual Funds
|
✅Yes
✅Yes
✅Yes |
|
Banking
|
⛔No
⛔No
⛔No |
|
Insurance
|
⛔No
⛔No
⛔No |
|
Corporate Bonds
|
⛔No
⛔No
⛔No |
|
Govt. Bonds
|
⛔No
⛔No
⛔No |
|
Digital Gold
|
⛔No
⛔No
⛔No |
Order Types
| |
|
Market Order
|
✅Yes
✅Yes
✅Yes |
|
Limit Order
|
✅Yes
✅Yes
✅Yes |
|
Bracket Order
|
✅Yes
✅Yes
✅Yes |
|
Cover Order
|
✅Yes
✅Yes
✅Yes |
|
After Market Order (AMO)
|
✅Yes
✅Yes
✅Yes |
|
Good Till Cancelled (GTC)
|
✅Yes
✅Yes
✅Yes |
|
Buy Today Sell Tomorrow (BTST)
|
⛔No
✅Yes
⛔No |
|
Sell Today Buy Tomorrow (STBT)
|
⛔No
⛔No
⛔No |
Research & Reports
| |
|
Annual Reports
|
⛔No
✅Yes
⛔No |
|
Company Reports
|
✅Yes, Basic only
✅Yes
⛔No |
|
Research Reports
|
⛔No
⛔No
⛔No |
|
Fundamental Reports
|
✅Yes, Basic only
⛔No
✅Yes, Basic only |
|
IPO Reports
|
✅Yes
✅Yes
✅Yes |
|
Technical Reports
|
✅Yes, Basic only
✅Yes
✅Yes, Basic only |
|
Stock tips
|
⛔No
⛔No
⛔No |
|
Daily Market Review
|
✅Yes
⛔No
⛔No |
|
Monthly Review
|
✅Yes
✅Yes
⛔No |
|
Weekly Review
|
✅Yes
⛔No
⛔No |
|
Robo Advisory
|
⛔No
⛔No
⛔No |
STT & CTT Charges
| |
|
Equity Delivery STT & CTT
|
0.1% on buy & sell
0.1% on buy & sell
0.1% on buy & sell |
|
Equity Intraday STT & CTT
|
0.025% on the sell side
0.025% on sell transactions
0.025% on the sell side |
|
Equity Futures STT & CTT
|
0.0125% on sell side
0.0125% on sell side
0.0125% on sell side |
|
Equity Options STT & CTT
|
0.0625% on sell side (on premium)
0.0625% on sell side (on premium), 0.125% on exercised options (on intrinsic value)
0.0625% on sell side (on premium) and/or 0.125% of the intrinsic value on options that are bought and exercised |
|
Currency Futures STT & CTT
|
No STT
No STT
No STT |
|
Currency Options STT & CTT
|
No STT
No STT
No STT |
|
Commodity Futures STT & CTT
|
0.01% on sell trade (Non-Agri)
0.01% on sell side
Does not offer Commodity trading |
|
Commodity Options STT & CTT
|
0.05% on sell trade
0.05% on sell side
Does not offer Commodity trading |
Trading Features
| |
|
Watchlist
|
✅Yes
✅Yes
✅Yes |
|
Real Time Updates
|
✅Yes
✅Yes
✅Yes |
|
Portfolio Details
|
✅Yes
✅Yes
✅Yes |
|
Price Alert
|
✅Yes
✅Yes
✅Yes |
|
Online Mutual Fund Buy
|
✅Yes
✅Yes
✅Yes |
|
Global indices
|
⛔No
⛔No
⛔No |
|
Customized Recommendations
|
⛔No
⛔No
⛔No |
|
Advanced charting
|
✅Yes
✅Yes
✅Yes |
|
Live market
|
✅Yes
✅Yes
✅Yes |
|
Multiple Profile Management
|
⛔No
⛔No
⛔No |
|
Secure Platform
|
✅Yes
✅Yes
✅Yes |
Trading Platforms
| |
|
Android App
|
✅Yes
✅Yes
✅Yes |
|
iOS App
|
✅Yes
✅Yes
✅Yes |
|
Web Trading Platform
|
✅Yes
✅Yes
✅Yes |
|
Trading Terminal
|
✅Yes
✅Yes
⛔No |
|
Algo Trading Platform
|
✅Yes
✅Yes
⛔No |
|
Foreign Stocks Trading Platform
|
⛔No
⛔No
⛔No |
|
Basket Trading Platform
|
✅Yes
✅Yes
✅Yes |
|
Mutual Fund Investment Platform
|
✅Yes
✅Yes
✅Yes |
|
Digital Gold Investment Platform
|
⛔No
⛔No
⛔No |
|
Bonds Investment Platform
|
⛔No
⛔No
⛔No |
Transaction Charges
| |
|
Equity Delivery Transaction Charges
|
NSE 0.00325% per trade on buy & sell. BSE charges vary as per the scrip group
BSE: 0.00375%, NSE: 0.00325%
NSE: 0.00325%, BSE: 0.00375% |
|
Equity Intraday Transaction Charges
|
NSE: 0.00325% per trade on buy & sell. BSE charges vary as per the scrip group
BSE: 0.00375%, NSE: 0.00325%
NSE: 0.00325%, BSE: 0.00375% |
|
Equity Futures Transaction Charges
|
NSE Exchange turnover charge: 0.0019%. BSE: Nil
NSE: 0.0019%, BSE: 0 (Zero)
NSE: 0.0019% |
|
Equity Options Transaction Charges
|
NSE Exchange turnover charge: 0.050% (on premium). BSE: 0.0375% (on premium)
NSE: 0.05% (on premium), BSE: 0.005% (on premium)
NSE: 0.050% (on premium) |
|
Currency Futures Transaction Charges
|
NSE: Exchange txn charge: 0.0009% & BSE: Exchange txn charge: 0.00022%
NSE: 0.0009%, BSE: 0.0009%, Interest Rate Derivatives: 0.00015%
NSE: Exchange txn charge: 0.0009% |
|
Currency Options Transaction Charges
|
NSE: Exchange txn charge: 0.035% & BSE: Exchange txn charge: 0.001%
NSE: 0.035%, BSE: 0.001%
NSE: Exchange txn charge: 0.035% |
|
Commodity Futures Transaction Charges
|
Non-Agri: Exchange turnover charge: 0.0026%
Group A, B : 0.0026%
Does not offer |
|
Commodity Options Transaction Charges
|
Exchange turnover charge: 0.05%
0.05%
Does not offer |
Stamp Duty charges
| |
|
Equity Delivery Stamp Duty
|
0.015% or ₹1500 / crore on buy side
0.015% on turnover of buy orders
0.015% or ₹1500 / crore on buy side |
|
Equity Intraday Stamp Duty
|
0.003% or ₹300 / crore on buy side
0.003% on turnover of buy orders
0.003% or ₹300 / crore on buy side |
|
Equity Futures Stamp Duty
|
0.002% or ₹200 / crore on buy side
0.0125% on sell side
0.002% or ₹200 / crore on buy side |
|
Equity Options Stamp Duty
|
0.003% or ₹300 / crore on buy side
0.0625% on sell side (on premium), 0.125% on exercised options (on intrinsic value)
0.003% or ₹300 / crore on buy side |
|
Currency Futures Stamp Duty
|
0.0001% or Rs 10 per crore on buy-side
0.0001% on turnover of buy orders
0.0001% or ₹10 / crore on buy side |
|
Currency Options Stamp Duty
|
0.0001% or Rs 10 per crore on buy-side
0.0001% on turnover of buy orders
0.0001% or ₹10 / crore on buy side |
|
Commodity Futures Stamp Duty
|
0.002% or ₹200 per crore on buy-side
0.002% on turnover of buy orders
Does not offer |
|
Commodity Options Stamp Duty
|
0.003% or ₹300 per crore on buy-side
0.003% on turnover of buy orders
Does not offer |
Other Charges
| |
|
SEBI Turnover Charges
|
₹10/crore (For all segments)
₹10/Crore (For all segments)
₹10/crore (For all segments) |
|
DP Charges
|
₹18.5 + GST per scrip (irrespective of quantity)
₹ 12.50 / instruction / ISIN + GST.
₹12 + GST per ISIN per transaction per day |
|
GST charges
|
18% of (brokerage + transaction charges + Demat)
18% of (brokerage + transaction charges + Demat)
18% of (brokerage + transaction charges + Demat) |
|
Account Closure Charges
|
Free
Free
Free |
|
Reactivation Charges
|
Free
Free
Free |
|
Dematerialization Charges
|
₹20 per Certificate
₹150 per certificate + ₹100 courier charges
₹150 per certificate + ₹100 courier charges |
|
Call and Trade charges
|
₹50 + 18% GST
₹ 50 / order + GST
₹0 |
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