Dhan vs mStock: Charges, AMC & Costs (2026)
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Dhan: delivery brokerage ₹0, AMC ₹0. mStock: delivery ₹10 per order, AMC ₹0. A ₹1,00,000 delivery round trip costs ₹237.23 on Dhan and ₹267.32 on mStock.
Last updated: October 2026
This page compares Dhan and mStock on what you actually pay: brokerage, AMC, DP charges and the total cost of three sample trades. Charges were checked against each broker’s published pricing in October 2026 and can change, so confirm before you open an account. This is information, not investment advice.
Dhan vs mStock: charges side by side
| Charge | Dhan | mStock |
|---|---|---|
| Account opening | ₹0 | ₹0 |
| Equity delivery brokerage | ₹0 | ₹10 per order |
| Equity intraday brokerage | Lower of ₹20 or 0.03% | ₹10 per order |
| Futures and options | ₹20 per order | ₹10 per order |
| Demat AMC | ₹0 for individuals and HUFs | ₹0 |
| DP charge on sells | ₹12.50 + GST per ISIN sold | ₹18 + GST per debit on sells |
| Pledge | ₹15 + GST per ISIN | MTF ₹32 per pledge sequence number per day + GST |
| Call and trade | ₹50 + GST per order | ₹0 |
| Auto square-off | ₹20 + GST per order | RMS square-off ₹100 + GST per executed order |
What the same trades cost on each broker
These examples add up brokerage, STT, exchange charges, SEBI fees, stamp duty, GST and the DP charge on a round trip (buy and sell). Delivery and intraday trades buy and sell ₹1,00,000 of shares once each. The options trade buys premium worth ₹50,000 and sells it for ₹60,000, with one lot per order. Amounts are rounded to the nearest paisa.
| Trade | Dhan | mStock |
|---|---|---|
| Delivery (₹1,00,000 buy and sell) | ₹237.23 | ₹267.32 |
| Intraday (₹1,00,000 buy and sell) | ₹82.68 | ₹59.08 |
| Options (₹50,000 buy, ₹60,000 sell) | ₹184.95 | ₹161.35 |
Delivery: Dhan costs ₹30.09 less (₹237.23 against ₹267.32). Intraday: mStock costs ₹23.60 less (₹59.08 against ₹82.68). Options: mStock costs ₹23.60 less (₹161.35 against ₹184.95). Your own order sizes and how often you trade decide which costs less, so test them in the calculator.
Dhan or mStock: what to weigh
Dhan may suit you if:
- you buy and sell delivery often (the ₹1,00,000 round trip costs ₹30.09 less here)
- you sell shares often: the DP charge per sell is lower (₹14.75 against ₹21.24)
mStock may suit you if:
- you trade intraday (₹23.60 less on the ₹1,00,000 example)
- you trade options (₹23.60 less on the options example)
- you place phone orders: call and trade is cheaper (₹0 against ₹50 + GST per order)
Both statements describe published charges, not a recommendation. Your own order sizes, how often you trade and how long you hold shares decide which costs more. Use the brokerage calculator to test your own numbers.
Full charge breakdowns
See every charge, worked examples and FAQs on the Dhan charges page and the mStock charges page. More pairs are on the broker comparisons hub.
Dhan vs mStock: FAQs
Which is cheaper for delivery, Dhan or mStock?
Dhan on the ₹1,00,000 delivery example: ₹237.23 on Dhan and ₹267.32 on mStock. Delivery brokerage is ₹0 at Dhan and ₹10 per order at mStock.
Which has the lower AMC?
Dhan: ₹0. mStock: ₹0.
How do F&O charges compare?
Dhan: ₹20 per order. mStock: ₹10 per order. On the options example the round trip costs ₹184.95 on Dhan and ₹161.35 on mStock.
How do DP charges compare?
Dhan: ₹12.50 + GST per ISIN sold. mStock: ₹18 + GST per debit on sells.
Is STT different between brokers?
No. STT is set by the government: 0.1% on buy and sell for delivery, 0.025% on the sell side for intraday, 0.05% on the sell side for futures and 0.15% on the sell premium for options. It is the same at every broker.
Sources
Dhan: Dhan pricing page. mStock: mStock pricing page. STT, stamp duty, SEBI turnover fee and exchange transaction charges follow the rates set by the government, SEBI and the exchanges.
Brokerage, AMC and statutory charges change. This page is for information and education only, not investment advice.
