Zerodha vs Angel One vs Dhan (2026): Honest Comparison of Charges, Platforms & Features

Picking the right stockbroker feels a lot like choosing a life partner. You want someone reliable, affordable, and ideally – not someone who will ghost you during a market crash. In 2026, the Indian stock market has more discount brokers than ever, but three names dominate almost every comparison thread, every YouTube comment section, and every family WhatsApp group: Zerodha, Angel One, and Dhan.

So which one is actually worth your money and trust? Let’s break it down – no fluff, no fake numbers, just a clean and honest Zerodha vs Angel One vs Dhan comparison.

A Quick Overview Before We Dive In

Before comparing charges and features, here’s who these brokers actually are.

Zerodha is India’s pioneer discount broker. Founded in 2010 by Nithin Kamath and Nikhil Kamath in Bengaluru, it almost single-handedly changed how Indians think about stock trading. As of mid-2026, it holds approximately 15.76% market share with over 74 lakh active clients – the largest of the three.

Angel One (formerly Angel Broking) was founded in 1987 and is one of India’s oldest full-service brokers. It has since reinvented itself as a hybrid tech-first broker. With around 7.2 crore registered users and a publicly listed entity on NSE/BSE, Angel One carries solid institutional credibility.

Dhan, the youngest of the three, is a technology-driven discount broker built specifically for modern traders. While its client numbers are smaller than the other two, its product and feature depth – especially for F&O traders is genuinely impressive. It’s the new kid on the block who showed up wearing a suit on day one.

Demat Account Opening Charges: Who Keeps It Free?

One of the first questions any new investor asks is: “How much does it cost to open an account?”

The good news – all three brokers offer free account opening.

• Zerodha – Free trading account opening. No charges.
• Angel One – Zero account opening charges.
• Dhan – Completely free. No account opening fee, no hidden surprises.

So far, it’s a three-way tie. But things get more interesting when you look at the Annual Maintenance Charges (AMC) on the Demat account.

• Zerodha charges ₹300 per year as AMC – modest, but it does exist.
• Angel One charges ₹240 per year (waived for the first year) – slightly lower, and the first-year waiver is a nice touch for beginners.
• Dhan charges zero AMC – full stop.

If you’re cost-sensitive or just starting out, Dhan’s zero-AMC structure gives it a clear edge here. Over a few years, that ₹300 saving adds up more than you think.

Brokerage Charges: The Numbers That Actually Matter

This is the section most traders bookmark. Let’s talk real numbers.

Equity Delivery Trading

All three brokers charge zero brokerage on equity delivery trades. Whether you’re a buy-and-hold investor accumulating Nifty 50 stocks or simply someone who bought Infosys and forgot about it – you pay nothing on delivery trades at Zerodha, Angel One, or Dhan.

This is standard across the discount brokerage industry today. No surprises here.

Equity Intraday Trading

Here’s where the smallest differences can matter for high-frequency traders.

• Zerodha – ₹20 per executed order or 0.03%, whichever is lower
• Angel One – Flat ₹20 per executed order
• Dhan – Flat ₹20 per executed order

Zerodha’s structure is slightly more favorable for smaller trade sizes because of the 0.03% cap. For a ₹50,000 intraday trade, 0.03% works out to just ₹15 – you pay the lower amount. For large trades above ₹67,000, the cap kicks in at ₹20 anyway.

If you’re an intraday trader dealing with large capital, all three cost roughly the same. For smaller trades, Zerodha technically wins on intraday brokerage.

Options and Futures Trading

For F&O – the segment that most active retail traders operate in the pricing is uniform:

• All three brokers charge ₹20 per executed order for both options and futures.

There’s no competitive advantage on F&O pricing between these three. The differentiator here becomes platform quality and execution speed – which we’ll cover next.

DP (Depository Participant) Charges – The Hidden Cost Many Ignore

This is the charge deducted when you sell shares from your Demat account. It’s often overlooked but adds up over time.

• Zerodha – ₹13.5 + GST per scrip per day
• Angel One – ₹20 + ₹5.50 (CDSL charges) per transaction

Zerodha’s DP charge is lower than Angel One’s, which matters if you’re selling frequently. Dhan also charges DP fees per SEBI’s standard structure, so always check their current fee schedule on their website before trading.

Trading Platforms: Where the Real War Is Being Fought

Brokerage charges are nearly identical across these three brokers. So what actually separates them? The platform experience.

Zerodha’s Kite – The Gold Standard, but Aging Gracefully

Zerodha’s Kite platform remains one of the cleanest, fastest trading platforms in India. The web version (kite.zerodha.com) and the mobile app are both known for their minimalist design and quick order execution.

Kite supports:

• Advanced charting with multiple technical indicators
• GTT (Good Till Triggered) orders
• Streak integration for algo trading
• Direct mutual fund investing via Coin

The platform is battle-tested. Millions of traders have used it through every market crash, budget day, and F&O expiry. However, some power users feel Kite’s feature depth is limited compared to newer platforms.

Zerodha also charges a monthly fee for API access – something traders building algorithmic strategies should factor in.

Angel One App – Built for the Masses

Angel One’s trading app has been significantly improved over the years. It now features:

• Smart stock recommendations powered by its in-house research team
• Robo-advisory tools for passive investors
• Angel Eye for desktop trading
• SpeedPro for advanced traders

What sets Angel One apart from the other two is its research and advisory service. It has an in-house team that provides stock tips, recommendations, and market analysis – a feature Zerodha and Dhan deliberately do not offer. If you’re someone who likes guidance with your trades, Angel One’s hybrid model serves you better.

Angel One also offers branch office support across India. For investors who still want to walk in and speak to a human being – a surprisingly large demographic – this is genuinely useful.

Dhan – The Platform Built for Serious Traders

Dhan is where things get exciting. For active traders, especially F&O traders, Dhan’s platform depth is impressive.

Key features that make Dhan stand out:

TradingView Integration – Dhan allows traders to trade directly from TradingView charts at no extra cost. This is massive for technical traders. You get 100+ pre-built indicators, Pine Editor for custom scripts, Bar Replay for backtesting, and 1-second chart timeframes.

Super Orders – A standout feature. You can set your Entry, Target, and Stop-Loss in a single order across Intraday, Normal, MTF, across NSE, BSE, and MCX. No more placing three separate orders.

Options Trader Platform – A dedicated platform for F&O traders with pre-built strategies like Straddle, Strangle, Iron Condor, and more. You get real-time pay-off graphs, Option Greeks, OI analysis, and live market scans.

Free API Access – Unlike Zerodha, Dhan provides API access for free. For developers and algo traders, this is a significant cost saving.

ScanX and Basket Orders – For multi-leg strategies and screeners, Dhan’s tools are genuinely among the best in the Indian discount brokerage space. <blockquote> Dhan is best suited for experienced, self-directed traders who know what they want from a platform and don’t need hand-holding. It’s not for beginners who need advice – it’s for traders who want tools. </blockquote>

Research and Advisory: The One Area Where Angel One Wins Clearly

If you’re new to the stock market or prefer guided investing, this matters a lot.

• Zerodha – No in-house research team. No stock tips. No recommendations. You’re on your own – by design. Zerodha’s philosophy is to educate investors through Varsity (their free learning platform) rather than push trades.
• Angel One – Full research coverage. Stock recommendations, market reports, trading calls, and a robo-advisory service. Best for beginners who want direction.
• Dhan – No advisory service. Self-directed investing only. But Dhan does offer community features and educational sessions on algo trading and TradingView usage.

If research support is important to you, Angel One is the clear winner in this category.

Customer Support: Who Actually Picks Up the Phone?

Nobody wants to think about customer support until they desperately need it.

• Zerodha – Email and phone support during business hours. Their helpdesk and community forum (support.zerodha.com) are extensive and well-documented. However, for a broker with over 74 lakh clients, response times can sometimes be slow.
• Angel One – Phone, email, and chat support. Also benefits from physical branches where you can walk in and get help face-to-face.
• Dhan – Email, phone, and chat support. User feedback on TradingView reviews generally rates Dhan’s customer support positively, with multiple users highlighting responsive resolution and helpful interactions.

Angel One and Dhan both score well on customer support breadth. Zerodha, while reliable, works best for self-sufficient traders who prefer finding answers on their own through documentation.

Investment Options: What Can You Actually Trade?

All three brokers let you access the full range of standard Indian market products:

Segment	Zerodha	Angel One	Dhan
Equity Delivery & Intraday	✅	✅	✅
Futures & Options	✅	✅	✅
Commodities (MCX)	✅	✅	✅
Currency Derivatives	✅	✅	✅
Mutual Funds	✅	✅	✅
IPO	✅	✅	✅
US Stocks	❌	❌	✅
Bonds/Govt. Securities	✅	✅	❌
Smallcase	✅	✅	✅

Dhan’s support for US stock investing is a differentiator. Zerodha leads on bonds and government securities access. Angel One covers all standard investment avenues comprehensively.

Margin Funding (MTF): Trade More With Less Capital

Margin Trading Funding lets you buy more stock than you can currently afford, with the broker lending you the difference.

• Zerodha – Offers MTF with up to 5x leverage on eligible stocks.
• Angel One – Offers MTF at up to 5x leverage. Angel One is noted for being more accessible with MTF features for retail clients.
• Dhan – Offers 4x leverage on 1,700+ stocks through its MTF facility. The margin against shares and pledge system is well-integrated into the platform.

All three offer MTF. Dhan’s 1,700+ eligible stocks list gives it broader coverage for MTF-based trading strategies.

Zerodha vs Angel One vs Dhan: Who Should Choose What?

Rather than declaring one broker “the winner,” which would be lazy, here’s an honest verdict by trader type.

Choose Zerodha if you are:

• An experienced investor who values platform reliability above all
• Someone who has been in the market for years and trusts Kite’s stability
• An investor who wants access to government bonds, ETFs, and direct mutual funds under one roof
• Comfortable being self-directed with no research hand-holding

Zerodha’s biggest strength is trust. It’s the broker that India grew up trading on. Its AMC is slightly higher than Angel One and Dhan, but for many long-term investors, the reliability premium is worth it.

Choose Angel One if you are:

• A beginner entering the stock market for the first time
• Someone who values stock research, trading recommendations, and advisory support
• An investor who may occasionally want to visit a branch office
• Someone who prefers having a structured learning curve with guidance

Angel One’s free AMC for the first year and research services make it a strong onboarding choice. Once you’re comfortable navigating markets independently, you may eventually consider switching – but to begin your investing journey, Angel One is welcoming and well-supported.

Choose Dhan if you are:

• An active F&O trader or intraday trader who lives inside charts
• A developer or algo trader who wants free API access
• Someone who wants TradingView integration without paying extra
• A power user who wants Super Orders, advanced option chains, and strategy builders in one place

Dhan is not for everyone. It’s best suited for traders who know exactly what they’re doing and want the best toolset at the lowest cost. If you’ve been trading for a few years and feel limited by your current platform, Dhan is worth a serious look.

Quick Comparison Table: Zerodha vs Angel One vs Dhan

Feature	Zerodha	Angel One	Dhan
Account Opening	Free	Free	Free
AMC (Demat)	₹300/year	₹240/year	Zero
Equity Delivery	₹0	₹0	₹0
Equity Intraday	₹20 or 0.03%	₹20 flat	₹20 flat
F&O (Options/Futures)	₹20	₹20	₹20
Research & Advisory	❌	✅	❌
Free API	❌ (paid)	✅	✅
TradingView Integration	❌	❌	✅ (native)
Branch Offices	Limited	Extensive	❌
US Stocks	❌	❌	✅
Best For	Reliable trading	Beginners + research	Active/F&O traders

Frequently Asked Questions

Final Thoughts: There’s No Universally Best Broker

The best broker is the one that matches your trading style, experience level, and priorities. Asking “which is better – Zerodha, Angel One, or Dhan?” is like asking “which is better – a sedan, an SUV, or a sports car?” The honest answer is: it depends on where you’re going.

Zerodha wins on trust and market presence. Angel One wins on research support and accessibility. Dhan wins on platform innovation and F&O tooling.

All three are SEBI-registered, offer free equity delivery trading, and have competitive flat fees for intraday and F&O segments. None of them will steal your money or disappear overnight.

What they will do differently is define your experience – whether you’re building a long-term equity portfolio, chasing intraday momentum, or crafting complex options strategies on expiry day.

Pick accordingly. Trade smart.

Brokerage charges and features are subject to change. Always verify the latest fee structure on each broker’s official website before opening an account.