Broker comparison

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

Q: Upstox vs Dhan: which has lower delivery brokerage?

At our last review, Upstox published delivery brokerage as "₹20 per order (flat)" and Dhan as "₹0 (free)". Plan-based or percentage pricing cannot always be reduced to a single winner — use the official pricing pages linked below.

Q: Does Upstox or Dhan have a trading API?

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

Q: Which is faster — Upstox or Dhan?

Upstox publishes ≈ 135 ms (median); Dhan publishes 95% < 25 ms (DEXT, self-reported). Sources and methodologies differ (including self-reported vs third-party figures) — they are not directly comparable without reading each source.

Q: Is Upstox cheaper than Dhan?

On our four example trades (intraday, delivery, options and futures), Upstox is cheaper on 0, Dhan on 1, and 3 are tied. 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 Upstox and Dhan 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

0 – 1Cheaper on example trades (Upstox – Dhan)
5 – 7Published features (of 9)

Upstox vs Dhan — published pricing and features (official sources at last review)
Metric	Upstox	Dhan
Delivery brokerage	₹20 per order (flat)	₹0 (free)
Intraday brokerage	₹20 or 0.1% per order (whichever is lower)	₹20 or 0.03% per order (whichever is lower)
F&O brokerage	₹20 per order (options); ₹20 or 0.05% per order for futures (whichever is lower)	₹20 per order (flat)
AMC	₹0 first year, then ₹300 + GST per year	₹0 (individuals & HUFs)
Account opening	Free (online)	Free (online)
Trading API	Upstox API — Free (per official developer page)	DhanHQ API — Free trading API; Data API ₹499 + taxes per month
Reported execution speed	≈ 135 ms (median)	95% < 25 ms (DEXT, self-reported)self-reported
Algo support	Yes - via Upstox API	Yes - free DhanHQ API; native TradingView charts and order placement
Platforms	Upstox app, Upstox web (Pro)	Dhan app, Dhan web, TradingView integration, Options Trader app
Best for (published)	Intraday and options traders who prioritise app speed and a free API.	Options traders and TradingView users who want modern tooling at flat-fee pricing.

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	Upstox	Dhan	Cheaper
Intraday: ₹1 lakh buy & sell	₹82.97	₹82.97	Tie
Delivery: ₹50,000 buy & sell	₹178.98	₹131.78	Dhan (saves ₹47.2)
Options: premium ₹100 × 75	₹66.43	₹66.43	Tie
Futures: ₹24,000 × 75	₹1,067.15	₹1,067.15	Tie

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

Feature check

Feature	Upstox	Dhan
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; Upstox does not (per official pricing at review). Both publish execution-speed figures (Upstox: ≈ 135 ms (median); Dhan: 95% < 25 ms (DEXT, self-reported)) — methodologies differ; see each profile before comparing on speed alone.

Tools & profiles

Related comparisons

Frequently asked questions

Upstox vs Dhan: which has lower delivery brokerage?

At our last review, Upstox published delivery brokerage as "₹20 per order (flat)" and Dhan as "₹0 (free)". Plan-based or percentage pricing cannot always be reduced to a single winner — use the official pricing pages linked below.

Does Upstox or Dhan have a trading API?

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

Which is faster — Upstox or Dhan?

Upstox publishes ≈ 135 ms (median); Dhan publishes 95% < 25 ms (DEXT, self-reported). Sources and methodologies differ (including self-reported vs third-party figures) — they are not directly comparable without reading each source.

Is Upstox cheaper than Dhan?

On our four example trades (intraday, delivery, options and futures), Upstox is cheaper on 0, Dhan on 1, and 3 are tied. 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

Upstox - official website - https://upstox.com
Upstox - official pricing - https://upstox.com/brokerage-charges/
Dhan - official website - https://dhan.co
Dhan - official pricing - https://dhan.co/pricing/