Upstox vs Dhan vs Shoonya: Charges & Costs (2026)
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Upstox: delivery ₹20 per order, AMC ₹0 in year one, then ₹300 + GST a year; Dhan: delivery ₹0, AMC ₹0; Shoonya: delivery ₹0, AMC ₹0. On a ₹1,00,000 delivery round trip the total charges are ₹293.28 on Upstox, ₹237.23 on Dhan, ₹233.10 on Shoonya.
Last updated: October 2026
This page compares Upstox, Dhan and Shoonya 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.
Upstox vs Dhan vs Shoonya: charges side by side
| Charge | Upstox | Dhan | Shoonya |
|---|---|---|---|
| Account opening | ₹0 | ₹0 | ₹0 |
| Equity delivery brokerage | ₹20 per order | ₹0 | ₹0 |
| Equity intraday brokerage | Lower of ₹20 or 0.1% | Lower of ₹20 or 0.03% | Lower of ₹5 or 0.03% |
| Futures and options | Options ₹20 per order; futures lower of ₹20 or 0.05% | ₹20 per order | Flat ₹5 + GST per order |
| Demat AMC | Free for the first year, then ₹300 + GST a year (non-BSDA) | ₹0 for individuals and HUFs | ₹0 for individuals; ₹900 for corporate, trust and LLP |
| DP charge on sells | ₹20 per scrip sold (the examples add 18% GST) | ₹12.50 + GST per ISIN sold | ₹9 + GST per scrip |
| Call and trade | ₹75 + GST per order | ₹50 + GST per order | ₹0 |
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 | Upstox | Dhan | Shoonya |
|---|---|---|---|
| Delivery (₹1,00,000 buy and sell) | ₹293.28 | ₹237.23 | ₹233.10 |
| Intraday (₹1,00,000 buy and sell) | ₹82.68 | ₹82.68 | ₹47.28 |
| Options (₹50,000 buy, ₹60,000 sell) | ₹184.95 | ₹184.95 | ₹149.55 |
Delivery: Shoonya is lowest at ₹233.10; the next lowest is ₹237.23 (₹4.13 more). Intraday: Shoonya is lowest at ₹47.28; the next lowest is ₹82.68 (₹35.40 more). Options: Shoonya is lowest at ₹149.55; the next lowest is ₹184.95 (₹35.40 more). Your own order sizes and how often you trade decide which costs least, so test them in the calculator.
Upstox vs Dhan vs Shoonya: what to weigh
Upstox may suit you if:
- you value features and service that this charges-only page does not cover
Dhan may suit you if:
- you keep the account for years: AMC after year one is ₹0
Shoonya may suit you if:
- you trade intraday: it is the lowest on that example by ₹35.40
- you trade options: it is the lowest on that example by ₹35.40
- you keep the account for years: AMC after year one is ₹0
- you sell shares often: its DP charge is the lowest of the three (₹10.62)
These statements describe published charges, not a recommendation. Use the brokerage calculator to test your own numbers.
Full charge breakdowns
Upstox charges page. Dhan charges page. Shoonya charges page. More pairs are on the broker comparisons hub.
Upstox vs Dhan vs Shoonya: FAQs
Which of Upstox, Dhan and Shoonya is cheapest for delivery?
Shoonya on the ₹1,00,000 delivery example: ₹293.28 on Upstox, ₹237.23 on Dhan, ₹233.10 on Shoonya.
Which has the lowest AMC?
Upstox: ₹0 in year one, then ₹300 + GST a year; Dhan: ₹0; Shoonya: ₹0.
How do F&O charges compare?
Upstox: Options ₹20 per order; futures lower of ₹20 or 0.05%; Dhan: ₹20 per order; Shoonya: Flat ₹5 + GST per order. Options example totals: ₹184.95 on Upstox, ₹184.95 on Dhan, ₹149.55 on Shoonya.
How do DP charges compare?
Upstox: ₹20 per scrip sold (the examples add 18% GST); Dhan: ₹12.50 + GST per ISIN sold; Shoonya: ₹9 + GST per scrip.
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
Upstox: Upstox brokerage charges page. Dhan: Dhan pricing page. Shoonya: Shoonya 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.
