Is Dhan cheaper than Zerodha?

Dhan charges ₹0 (free) on equity delivery, ₹20/trade or 0.03% (lower) on intraday, and ₹20/trade on F&O. Zerodha charges ₹0 (free), ₹20/trade or 0.03% (lower), and ₹20/trade. MTF interest: Dhan at ~9.99% p.a. vs Zerodha at ~11.5% p.a..

Which broker is better for MTF — Dhan or Zerodha?

Dhan's MTF rate is ~9.99% p.a.. Zerodha's MTF rate is ~11.5% p.a.. On a ₹5 lakh position held 6 months, the cheaper broker saves thousands in interest. See the live MTF rate comparison at /mtf.

Dhan vs Zerodha — Brokerage, MTF Rates & Features Compared (2026)

Side-by-side comparison of Dhan and Zerodha across every charge and feature that matters to Indian retail traders. Data verified April 2026. Use the live MTF comparison for real-time rate checks.

Dhan

dhan

Options-trader-focused broker with powerful features

Best for: Options traders, MTF users, advanced retail

Zerodha

zerodha

India's largest discount broker by active clients

Best for: Serious long-term investors, F&O traders, Kite power users

Charges compared

Fee / Charge	Dhan	Zerodha
Equity delivery	₹0 (free)	₹0 (free)
Intraday	₹20/trade or 0.03% (lower)	₹20/trade or 0.03% (lower)
F&O (flat)	₹20/trade	₹20/trade
MTF interest (p.a.)	~9.99% p.a.	~11.5% p.a.
AMC (annual)	₹0 (free)	₹300/year

Dhan — pros & cons

Pros

Lowest MTF rate in the segment (~9.99%)
Zero AMC
TradingView charts built-in
Options chain, strategy builder, backtesting — trader-first features

Cons

Smaller user base than Zerodha/Upstox
Fewer educational resources
App still maturing — occasional UX rough edges

Zerodha — pros & cons

Pros

Largest user base — most liquid community
Kite 3 is a benchmark trading platform
Excellent educational content (Varsity)
Profitable, self-funded, no VC pressure

Cons

₹300 AMC (higher than peers)
No free call-and-trade
Onboarding slower than newer brokers

Which broker should you pick?

Pick Dhan if you fit this profile: options traders, mtf users, advanced retail.
Pick Zerodha if you fit this profile: serious long-term investors, f&o traders, kite power users.
Use the live MTF comparison to check the cheaper broker for the specific stock you want to margin-trade — rates vary per stock.
Run your expected monthly trading volume through the brokerage calculator to see actual all-in cost (brokerage + STT + exchange fees + GST).

Other broker comparisons

Dhan vs Groww Dhan vs Upstox Groww vs Upstox Groww vs Zerodha Upstox vs Zerodha

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