Mstock vs Dhan vs Indmoney Demat Charges Compared (2026) Disclosure: We may earn a commission if you open a demat account via links on this page. This does not affect our editorial independence. Read our Affiliate Disclosure .
Last updated: May 2026 · Charges and offers verified against official broker pages where noted.
Mstock demat account review: opening fee ₹0, AMC ₹0 after one-time ₹1,299 + GST lifetime operating-charge activation; otherwise ₹219 + GST/quarter, and brokerage charges updated May 2026. Informational only—not investment advice.
In stock
- ₹0
₹0 after one-time ₹1,299 + GST lifetime operating-charge activation; otherwise ₹219 + GST/quarter
₹0/year
m.Stock ₹5/order + lifetime operating-charge option
No commodity segment
No commodity segment
₹5 per executed order
₹5 per executed order
₹0
₹5 per executed order
₹5 per executed order
₹5 per executed order
MTF from 6.99% p.a.; pledge shares interest 0.0274%/day
Yes
MTF pledge/closure ₹32 per PSN per day + GST; pledge shares creation ₹0, closure ₹32 per PSN/day + GST
MTF closure ₹32 per PSN per day + GST; pledge shares closure ₹32 per PSN/day + GST
1x; 100% upfront delivery margin
Up to 5x
No
Yes
No
Yes
No
No
Nil
Nil
STT 0.10% on buy and sell
STT 0.05% on sell side
STT 0.025% on sell side
STT 0.15% on sell side premium; 0.15% on exercise intrinsic value
No commodity segment
No commodity segment
NSE 0.00035% on turnover
NSE 0.0311% on premium
NSE 0.00307%; BSE 0.00375%
NSE 0.00183% on contract value
NSE 0.00307%; BSE 0.00375%
NSE 0.03553% on premium; BSE 0.0325% on premium
No commodity segment
No commodity segment
0.0001% on buy side
0.0001% on buy side
0.015% or ₹1,500/crore on buy side
0.002% or ₹200/crore on buy side
0.003% or ₹300/crore on buy side
0.003% or ₹300/crore on buy side
₹0
₹0
₹0
₹18 + GST per debit transaction
18% on brokerage, DP, exchange transaction charges, SEBI charges and other taxable service charges
₹0
₹10/crore or 0.0001% of turnover
₹100 per executed order + GST
₹0
Dhan demat review (May 2026): account opening ₹0, AMC ₹0 (lifetime, as published), equity delivery brokerage ₹0. This page is informational onlynot investment advice.
In stock
- Features & Services Provided
9
Brokerage Charges & Fees
9.6
₹0
₹0 (Free for lifetime)
₹0/year
Regular flat-fee online plan
₹20 per executed order
₹20 per executed order
₹20 per executed order
₹20 per executed order
₹0
₹20 per executed order
Lower of ₹20 or 0.03%
₹20 per executed order
12.49% to 16.49% p.a. (Tiered)
Yes
₹15 + GST per ISIN
₹15 + GST per ISIN
1x; 100% upfront delivery margin
Up to 5x
No
No
No
Yes
No
No
Nil
Nil
STT 0.10% on buy and sell
STT 0.05% on sell side
STT 0.025% on sell side
STT 0.15% on sell side premium; 0.15% on exercise intrinsic value
MCX 0.00210%; NCDEX 0.0058%
MCX 0.0418%; NCDEX 0.03%
NSE 0.00035% on turnover
NSE 0.0311% on premium
NSE 0.00307%; BSE 0.00375%
NSE 0.00183% on contract value
NSE 0.00307%; BSE 0.00375%
NSE 0.03553% on premium; BSE 0.0325% on premium
0.002% on buy side
0.003% on buy side premium
0.0001% on buy side
0.0001% on buy side
0.015% or ₹1,500/crore on buy side
0.002% or ₹200/crore on buy side
0.003% or ₹300/crore on buy side
0.003% or ₹300/crore on buy side
₹0
₹50 per order + GST
₹250 per certificate + courier
₹12.50 + GST per ISIN
18% on brokerage, DP, exchange transaction charges, SEBI charges and other taxable service charges
₹0
₹10/crore or 0.0001% of turnover
₹20 per order + GST
₹0
Indmoney demat account review: opening fee ₹0, AMC ₹0 (Free for lifetime), and brokerage charges updated May 2026. Informational only—not investment advice.
In stock
- ₹0
₹0 (Free for lifetime)
₹0/year
INDstocks Indian Stocks pricing
₹20 per executed order
₹20 per executed order
₹20 per executed order
₹20 per executed order
Lower of ₹20 or 0.1% per executed order; minimum ₹2
₹20 per executed order
Lower of ₹20 or 0.1% per executed order; minimum ₹2
₹20 per executed order
MTF offered up to 4x; interest charged on funded amount
Yes
₹0 margin pledge/unpledge; ₹20 + GST per ISIN for MTF pledge/unpledge
₹0 margin unpledge; ₹20 + GST per ISIN for MTF unpledge
1x; 100% upfront delivery margin
Up to 5x
No
No
No
No
No
No
Nil
Nil
STT 0.10% on buy and sell
STT 0.05% on sell side
STT 0.025% on sell side
STT 0.15% on sell side premium; 0.15% on exercise intrinsic value
MCX 0.00210%; NCDEX 0.0058%
MCX 0.0418%; NCDEX 0.03%
NSE 0.00035% on turnover
NSE 0.0311% on premium
NSE 0.00307%; BSE 0.00375%
NSE 0.00183% on contract value
NSE 0.00307%; BSE 0.00375%
NSE 0.03553% on premium; BSE 0.0325% on premium
0.002% on buy side
0.003% on buy side premium
0.0001% on buy side
0.0001% on buy side
0.015% or ₹1,500/crore on buy side
0.002% or ₹200/crore on buy side
0.003% or ₹300/crore on buy side
0.003% or ₹300/crore on buy side
₹0
₹500 per order
₹250 per certificate
₹18.50 + GST per ISIN on delivery sell
18% on brokerage, DP, exchange transaction charges, SEBI charges and other taxable service charges
₹0
₹10/crore or 0.0001% of turnover
₹50 per order
₹0
By Ajay Bohra · About the author
For Annual Maintenance Charges (AMC): Mstock: ₹0 after one-time ₹1,299 + GST lifetime operating-charge activation; otherwise ₹219 + GST/quarter; Dhan: ₹0 (Free for lifetime); Indmoney: ₹0 (Free for lifetime). Informational only; confirm tariffs on each broker's official site before opening an account.
This Mstock vs Dhan vs Indmoney guide compares charges and account terms for Mstock, Dhan, and Indmoney. Figures in the table below match the live comparison widget above. Confirm current tariffs on each broker’s official website before opening an account. More comparisons: broker comparisons hub .
Charges at a glance Parameter Mstock Dhan Indmoney Annual Maintenance Charges (AMC) ₹0 after one-time ₹1,299 + GST lifetime operating-charge activation; otherwise ₹219 + GST/quarter ₹0 (Free for lifetime) ₹0 (Free for lifetime) Brokerage Plan m.Stock ₹5/order + lifetime operating-charge option Regular flat-fee online plan INDstocks Indian Stocks pricing Equity Delivery Charges ₹0 ₹0 Lower of ₹20 or 0.1% per executed order; minimum ₹2 Equity Intraday Charges ₹5 per executed order Lower of ₹20 or 0.03% Lower of ₹20 or 0.1% per executed order; minimum ₹2 Equity Futures charges ₹5 per executed order ₹20 per executed order ₹20 per executed order Equity Options charges ₹5 per executed order ₹20 per executed order ₹20 per executed order
Key differences Annual Maintenance Charges (AMC): Mstock — ₹0 after one-time ₹1,299 + GST lifetime operating-charge activation; otherwise ₹219 + GST/quarter; Dhan — ₹0 (Free for lifetime); Indmoney — ₹0 (Free for lifetime). Brokerage Plan: Mstock — m.Stock ₹5/order + lifetime operating-charge option; Dhan — Regular flat-fee online plan; Indmoney — INDstocks Indian Stocks pricing. Equity Delivery Charges: Mstock — ₹0; Dhan — ₹0; Indmoney — Lower of ₹20 or 0.1% per executed order; minimum ₹2. Equity Intraday Charges: Mstock — ₹5 per executed order; Dhan — Lower of ₹20 or 0.03%; Indmoney — Lower of ₹20 or 0.1% per executed order; minimum ₹2. Equity Futures charges: Mstock — ₹5 per executed order; Dhan — ₹20 per executed order; Indmoney — ₹20 per executed order. Equity Options charges: Mstock — ₹5 per executed order; Dhan — ₹20 per executed order; Indmoney — ₹20 per executed order. Individual broker reviews Read our detailed reviews: Mstock demat review , Dhan demat review , Indmoney demat review .
FAQs What is the Mstock demat account opening fee? ₹0. Confirm on Mstock's official site.
What is the Dhan demat account opening fee? ₹0. Confirm on Dhan's official site.
What is the Indmoney demat account opening fee? ₹0. Confirm on Indmoney's official site.
What is the Mstock demat AMC? ₹0 after one-time ₹1,299 + GST lifetime operating-charge activation; otherwise ₹219 + GST/quarter. Confirm on Mstock's official site.
What is the Dhan demat AMC? ₹0 (Free for lifetime). Confirm on Dhan's official site.
What is the Indmoney demat AMC? ₹0 (Free for lifetime). Confirm on Indmoney's official site.
What are Mstock equity delivery brokerage charges? ₹0. Confirm on Mstock's official site.
What are Dhan equity delivery brokerage charges? ₹0. Confirm on Dhan's official site.
Brokerage plans, AMC slabs, and F&O tariffs can change. Use the comparison table at the top of this page for side-by-side product fields, and verify final numbers on official broker sites before you trade. This page is for information and education only—not personalized investment advice.
