Ajay Bohra
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Last updated: July 2026 · Charges and offers verified against official broker pages where noted.
Dhan and Fyers are both discount brokers built for active traders — and both partner with TradingView. The differences show up in three places: equity delivery brokerage (Dhan ₹0, Fyers lower of ₹20 or 0.3%), DP charges (₹12.50 vs ₹12.50 — identical), and platform philosophy. Dhan leans into broker-linked TradingView at tv.dhan.co plus an option-chain-first workflow; Fyers pitches its own Fyers One terminal plus TradingView access on the Fyers platform. This page compares tariffs, platform depth, and best-fit use cases — not a universal winner.
Last verified: July 2026 · Charges sourced from broker official pages — re-confirm on Fyers and Dhan before opening an account.
Quick verdict
For equity delivery investors, Dhan is cheaper: zero delivery brokerage vs Fyers’ lower-of-₹20-or-0.3% structure. For high-volume F&O traders, both charge ₹20 per order flat and the per-trade cost is identical — the choice then comes down to chart workflow preference (Dhan’s tv.dhan.co vs Fyers One) and whether you want broker diversification. AMC is ₹0 lifetime on both, so there is no annual cost penalty either way.
| Use case | Recommended | Why |
|---|---|---|
| Equity delivery investing | Dhan | ₹0 delivery vs Fyers’ 0.3% / ₹20 lower — material over many trades |
| Active F&O / options | Either | Both ₹20/order flat; pick by chart workflow preference |
| TradingView-native workflow | Dhan | tv.dhan.co is TradingView-powered; Dhan also on TradingView.com panel |
| Traders who want Fyers One desktop terminal | Fyers | Fyers’ native terminal is mature; Dhan is web/tv.dhan.co-first |
| Long-term investor (AMC-sensitive) | Either | Both ₹0 lifetime AMC |
| Multi-segment trader (eq + currency + commodity) | Either | Both offer all segments at ₹20/order flat |
Charges at a glance (July 2026)
Sourced from the LTW broker master sheet (NSE-verified tariffs). Verify live rates on Fyers pricing and Dhan pricing before opening an account.
| Parameter | Fyers | Dhan |
|---|---|---|
| Account Opening Fee | ₹0 | ₹0 |
| Annual Maintenance Charges (AMC) | ₹0 (free for lifetime) | ₹0 (free for lifetime) |
| Equity Delivery Brokerage | Lower of ₹20 or 0.3% | ₹0 |
| Equity Intraday Brokerage | Lower of ₹20 or 0.03% | Lower of ₹20 or 0.03% |
| Equity Futures Brokerage | Lower of ₹20 or 0.03% | ₹20 per executed order |
| Equity Options Brokerage | ₹20 per executed order | ₹20 per executed order |
| Currency Futures Brokerage | Lower of ₹20 or 0.03% | ₹20 per executed order |
| Currency Options Brokerage | ₹20 per executed order | ₹20 per executed order |
| Commodity Futures Brokerage | Lower of ₹20 or 0.03% | ₹20 per executed order |
| Commodity Options Brokerage | ₹20 per executed order | ₹20 per executed order |
| DP Charges (per ISIN on sell) | ₹12.50 + GST | ₹12.50 + GST |
| Call & Trade Charges | ₹50 per order | ₹50 + GST |
| Pledge Charges | ₹5 + GST creation; ₹0 unpledge | ₹15 + GST per ISIN |
Where Dhan wins
- Equity delivery is free. Fyers charges lower-of-₹20-or-0.3% per order. On a ₹1 lakh delivery buy-and-sell cycle, that’s potentially ₹300 on Fyers vs ₹0 on Dhan (subject to Fyers’ lower-of rule).
- tv.dhan.co TradingView integration. Dhan’s chart terminal runs TradingView natively; Fyers supports TradingView on its own platform but tv.dhan.co is the cleaner TradingView-native experience.
- Lower pledge fees for high-F&O traders. Wait — Fyers is actually cheaper here (₹5 vs ₹15). Cross-check this row before deciding if margin pledging is a major cost for you.
- TradingView.com Trading Panel support. Dhan is listed as a connectable broker on tradingview.com; Fyers integration is via Fyers’ own platform.
Where Fyers wins
- Fyers One desktop terminal. A purpose-built installable terminal for active traders who prefer native software over browser.
- Lower pledge creation fee. ₹5 + GST vs Dhan’s ₹15 + GST per ISIN — material if you pledge frequently for F&O margin.
- Longer operating track record. Founded 2015 (vs Dhan’s 2021); more years of platform maturity.
- Lower-of-₹20-or-0.03% on futures. For very small lot-size futures trades, the percentage cap can produce sub-₹20 brokerage. Dhan is flat ₹20 regardless of trade value.
- Bengaluru-based. Fyers is headquartered in Bengaluru; Dhan in Mumbai — neutral for most users, occasionally relevant for offline support.
Platform and segments
| Item | Fyers | Dhan |
|---|---|---|
| Equity, F&O, Currency, Commodity | All segments | All segments |
| Mobile app | Fyers App (iOS + Android) | Dhan (iOS + Android) |
| Web terminal | Fyers Web | web.dhan.co + tv.dhan.co |
| Desktop terminal | Fyers One (Windows installable) | Browser-only (tv.dhan.co) |
| Charting engine | TradingView (via Fyers platform) | TradingView (tv.dhan.co native) |
| TradingView.com Trading Panel | Not listed | Yes — Dhan QR auth |
| API access | Yes (Fyers API) | Yes (Dhan HQ + trading APIs) |
Worked example: ₹1 lakh equity delivery buy + sell
For a single delivery buy-and-sell of ₹1 lakh notional:
| Cost component | Fyers | Dhan |
|---|---|---|
| Buy-side brokerage | Lower of ₹20 or ₹300 = ₹20 | ₹0 |
| Sell-side brokerage | Lower of ₹20 or ₹300 = ₹20 | ₹0 |
| DP charge on sell (per ISIN) | ₹12.50 + GST | ₹12.50 + GST |
| Net brokerage + DP | ~₹52.50 + GST | ~₹12.50 + GST |
STT, GST, stamp duty, exchange transaction charges, and SEBI turnover fee apply identically on both brokers — they are statutory, not broker-controlled. The only broker-attributable gap is delivery brokerage + DP, where Dhan is ~₹40 cheaper per ₹1 lakh delivery cycle.
Choose Dhan if
- You invest in equity delivery regularly and want ₹0 brokerage on those trades.
- You want TradingView charts natively at tv.dhan.co plus Dhan on the TradingView.com panel.
- You don’t need an installable desktop terminal — browser-based trading is fine.
- You’re an options / F&O trader who prefers a chart-first workflow.
Choose Fyers if
- You want an installable desktop terminal (Fyers One) for active trading.
- You pledge margin frequently and want lower pledge creation fees (₹5 vs ₹15 per ISIN).
- You trade small lot-size futures where the lower-of-₹20-or-0.03% rule produces sub-₹20 brokerage.
- You prefer a broker with a longer operating track record (founded 2015).
Open a Fyers account on the official Fyers page. For the full Dhan breakdown, see our Dhan demat review.
FAQs
Is Dhan or Fyers better for F&O?
For F&O both charge ₹20 per executed order flat, so per-trade cost is identical. The differences are platform: Dhan’s tv.dhan.co is the cleaner TradingView experience; Fyers One is a mature installable terminal. Choose by chart workflow, not by F&O pricing — they are the same.
Which broker has lower equity delivery brokerage — Dhan or Fyers?
Dhan. Equity delivery is ₹0 on Dhan. Fyers charges lower of ₹20 or 0.3% per order. On a ₹1 lakh buy-and-sell cycle, Dhan saves ~₹40 in brokerage vs Fyers (DP charges are equal at ₹12.50 + GST per ISIN).
Do Dhan and Fyers both support TradingView?
Yes, but via different routes. Dhan runs TradingView natively at tv.dhan.co and is also listed on the TradingView.com Trading Panel. Fyers integrates TradingView within the Fyers platform and Fyers Web. If TradingView-native workflow matters, Dhan’s tv.dhan.co is the more direct path.
Is Dhan safer than Fyers?
Both are SEBI-regulated discount brokers and your holdings sit with CDSL/NSDL, not with the broker. Fyers has a longer operating history (2015 vs Dhan’s 2021). Safety is comparable in a regulatory sense; verify each broker’s current SEBI registration status independently before opening an account.
What is the AMC difference between Dhan and Fyers?
There is none — both charge ₹0 lifetime AMC. Annual cost is identical on this dimension. The broker-attributable cost difference shows up only in delivery brokerage and (for heavy margin users) pledge fees.
Can I use both Dhan and Fyers together?
Yes — many active traders hold demat accounts at multiple brokers. Common pattern: Dhan for chart-led F&O at tv.dhan.co, Fyers for desktop-terminal trading or as a backup execution venue. There is no regulatory restriction on holding multiple demat accounts.
Sources checked
- Fyers official charges page
- Dhan official pricing page
- LTW 18-broker master sheet (NSE-verified tariffs, July 2026 snapshot)
- SEBI investor education — DP charges and pledging rules
Risk warning: Investing and trading involve market risk. Brokerage charges, AMC, and platform features change over time. This article is informational and based on published tariffs as of July 2026 — verify details on each broker’s official website before opening an account.
See our review methodology · affiliate disclosure. Full broker breakdowns: Dhan demat review · Fyers review.
