Broker comparison

Dhan vs ICICI Direct (2026): Brokerage, API, AMC & Execution Compared

Q: Dhan vs ICICI Direct: which has lower delivery brokerage?

At our last review, Dhan published delivery brokerage as "₹0 (free)" and ICICI Direct as "0.29% per order on the default MoneySaver plan (lower on prepaid Prime plans)". Plan-based or percentage pricing cannot always be reduced to a single winner — use the official pricing pages linked below.

Q: Does Dhan or ICICI Direct have a trading API?

Both have documented APIs at review time: Dhan (DhanHQ API), ICICI Direct (Breeze API). Compare pricing and rate limits on each broker's developer page.

Q: Which is faster — Dhan or ICICI Direct?

Dhan publishes 95% < 25 ms (DEXT, self-reported). ICICI Direct has no verifiable execution-speed figure we could cite.

Q: Is Dhan cheaper than ICICI Direct?

On our four example trades (intraday, delivery, options and futures), Dhan is cheaper on 3, ICICI Direct on 0, and 0 are tied, with the rest not modelled from published pricing. Statutory charges are identical, so any difference comes from brokerage.

Q: Are these comparisons independent?

Yes. Indian Broker Test is not affiliated with, sponsored by, or endorsed by any broker. Rankings and comparisons use only published official data; gaps are shown as Not Disclosed.

Side-by-side comparison of Dhan and ICICI Direct from published official pricing and features — no affiliation with either broker.

By the Indian Broker Test editorial desk · Published 8 July 2026 · Data last reviewed 14 November 2026 · Independent

3 – 0Cheaper on example trades (Dhan – ICICI Direct)
7 – 4Published features (of 9)

Dhan vs ICICI Direct — published pricing and features (official sources at last review)
Metric	Dhan	ICICI Direct
Delivery brokerage	₹0 (free)	0.29% per order on the default MoneySaver plan (lower on prepaid Prime plans)
Intraday brokerage	₹20 or 0.03% per order (whichever is lower)	0.029% per order on MoneySaver; ₹20 per order with an iValue subscription
F&O brokerage	₹20 per order (flat)	MoneySaver: futures 0.029%, options ₹49 per lot; ₹20 per order with iValue
AMC	₹0 (individuals & HUFs)	₹700 per year (₹300 for iVALUE subscribers)
Account opening	Free (online)	₹0 (free); 3-in-1 account with ICICI Bank
Trading API	DhanHQ API — Free trading API; Data API ₹499 + taxes per month	Breeze API — Free (per official Breeze page)
Reported execution speed	95% < 25 ms (DEXT, self-reported)self-reported	Not Disclosed
Algo support	Yes - free DhanHQ API; native TradingView charts and order placement	Yes - via Breeze API
Platforms	Dhan app, Dhan web, TradingView integration, Options Trader app	ICICI Direct web, ICICI Direct Markets app, Trade Racer
Best for (published)	Options traders and TradingView users who want modern tooling at flat-fee pricing.	ICICI Bank customers who want research, advisory and one integrated account.

Statutory charges (STT, exchange fees, GST, etc.) are not included. Figures are from official pricing pages at our last review — verify before opening an account.

Cost face-off: what real trades cost

Total charges per round trip, brokerage + all statutory charges (NSE)
Trade	Dhan	ICICI Direct	Cheaper
Intraday: ₹1 lakh buy & sell	₹82.97	₹104.55	Dhan (saves ₹21.58)
Delivery: ₹50,000 buy & sell	₹131.78	₹491.09	Dhan (saves ₹359.31)
Options: premium ₹100 × 75	₹66.43	Not modelled	-
Futures: ₹24,000 × 75	₹1,067.15	₹2,253.16	Dhan (saves ₹1,186.01)

Illustrative quantities. Try your own trade in the compare-all brokerage calculator.

Feature check

Feature	Dhan	ICICI Direct
Free delivery	✓	–
Zero AMC	✓	–
Free API	✓	✓
TradingView	✓	–
MCX commodity	✓	✓
Mutual funds	–	✓
IPO	✓	–
Research desk	–	✓
Published speed	✓	–

What the published data shows

Dhan publishes free equity delivery; ICICI Direct does not (per official pricing at review). Dhan publishes an execution-speed figure; ICICI Direct does not on verifiable sources.

Tools & profiles

Related comparisons

Frequently asked questions

Dhan vs ICICI Direct: which has lower delivery brokerage?

At our last review, Dhan published delivery brokerage as "₹0 (free)" and ICICI Direct as "0.29% per order on the default MoneySaver plan (lower on prepaid Prime plans)". Plan-based or percentage pricing cannot always be reduced to a single winner — use the official pricing pages linked below.

Does Dhan or ICICI Direct have a trading API?

Both have documented APIs at review time: Dhan (DhanHQ API), ICICI Direct (Breeze API). Compare pricing and rate limits on each broker's developer page.

Which is faster — Dhan or ICICI Direct?

Dhan publishes 95% < 25 ms (DEXT, self-reported). ICICI Direct has no verifiable execution-speed figure we could cite.

Is Dhan cheaper than ICICI Direct?

On our four example trades (intraday, delivery, options and futures), Dhan is cheaper on 3, ICICI Direct on 0, and 0 are tied, with the rest not modelled from published pricing. Statutory charges are identical, so any difference comes from brokerage.

Are these comparisons independent?

Yes. Indian Broker Test is not affiliated with, sponsored by, or endorsed by any broker. Rankings and comparisons use only published official data; gaps are shown as Not Disclosed.

Sources

Dhan - official website - https://dhan.co
Dhan - official pricing - https://dhan.co/pricing/
ICICI Direct - official website - https://www.icicidirect.com
ICICI Direct - official pricing - https://www.icicidirect.com/brokerage