Dhan vs ICICI Direct
How Dhan and ICICI Direct compare on brokerage, demat AMC and DP charges — verified as of Jun 2026.
By NexMaxo Editorial Team · Charges verified Jun 2026
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Quick take
Dhan gives free equity delivery (₹0) while ICICI Direct charges 0.29% (no cap), so Dhan is cheaper for delivery-based investing.
Dhan — active f&o and intraday traders who want flat ₹20 pricing, free delivery, and free trading apis.
ICICI Direct — existing icici bank customers who value a seamless 3-in-1 account and full-service research, and don't mind high percentage brokerage on the default plan.
Charges side by side
| DhanOpen | ICICI DirectOpen | |
|---|---|---|
| Equity delivery | ₹0 brokerage | 0.29% (no cap) |
| Intraday | ₹20 or 0.03%, lower | 0.029%/side (no cap) |
| DP sell / scrip | ₹14.75 | ₹23.6 |
| Account opening | ₹0 | ₹0 |
| Demat AMC | ₹0 lifetime (individuals/HUFs) | ₹700/yr standard (₹300/yr on opt-in iValue/Neo plans) |
| Type | Discount | Full-service |
Standard published equity plans, verified Jun 2026. Statutory STT, exchange, SEBI, stamp duty & GST are identical across brokers.
Dhan
- Free equity delivery brokerage, ₹0 account opening, and ₹0 lifetime AMC for individuals/HUFs
- Flat ₹20 (or 0.03%, lower) intraday and ₹20 per order F&O — among the cheapest for active traders
- Free DhanHQ trading APIs and TradingView integration at no extra charge, plus advanced options tools
- DP/demat debit charge of ₹14.75 per scrip on every delivery sell
- Call-and-trade (₹50/order + GST) and auto square-off (₹20/order + GST) carry extra fees
ICICI Direct
- Seamless 3-in-1 account integrating ICICI Bank savings, demat and trading for instant fund transfers
- Full-service: extensive in-house research, advisory, IPOs, mutual funds, bonds, NCDs across segments
- Free account opening and the backing/scale of one of India's largest, most established brokers
- Default MoneySaver plan is expensive: 0.29% delivery and 0.029%/side intraday vs discount brokers' flat ₹20 / free delivery
- Percentage brokerage with no cap means large-value delivery orders incur very high charges
Dhan vs ICICI Direct — FAQs
Dhan gives free equity delivery (₹0) while ICICI Direct charges 0.29% (no cap), so Dhan is cheaper for delivery-based investing. On intraday, Dhan charges ₹20 or 0.03%, lower and ICICI Direct 0.029%/side (no cap). The DP sell charge is ₹14.75 (Dhan) vs ₹23.6 (ICICI Direct). Statutory charges are identical across brokers.
Dhan is a discount broker — active f&o and intraday traders who want flat ₹20 pricing, free delivery, and free trading apis. ICICI Direct is a full-service broker — existing icici bank customers who value a seamless 3-in-1 account and full-service research, and don't mind high percentage brokerage on the default plan.
Either works to start. Look at the demat AMC (Dhan: ₹0 lifetime (individuals/HUFs); ICICI Direct: ₹700/yr standard (₹300/yr on opt-in iValue/Neo plans)), whether delivery is free, and which app you find simpler. Both hold your shares safely with CDSL/NSDL. This is information, not advice.
This is an informational comparison of published charges, not investment advice. Brokers change pricing and run promotions — confirm current rates on each broker's official charges page before opening. Investing carries market risk.