HDFC Securities and Dhan are two stockbrokers that investors often compare for brokerage charges, products, trading platforms, and account costs. HDFC Securities is listed as a Private Discount Broker , established in 2000 and headquartered in Mumbai, while Dhan is listed as a Private Discount Broker , established in 2018 and headquartered in Mumbai.
This comparison reviews brokerage, Demat charges, product availability, platforms, features, support, ratings, and complaints. Use the side-by-side tables below to see whether HDFC Securities or Dhan is a better fit for your investment style, platform preference, and budget.
HDFC Securities is listed as a Private Discount Broker established in 2000 with headquarters in Mumbai and founded by Dhiraj Relli. The broker highlights access to equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures through mobile app access, web trading and desktop terminal access and promotes features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and global indices tracking. It follows a Starter Pack – Lite 199 brokerage structure.
Dhan is listed as a Private Discount Broker established in 2018 with headquarters in Mumbai and founded by Pravin Jadhav. It offers equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures using mobile app access and web trading and supports traders with features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, interactive charts and live market tracking. Its brokerage model is structured as Standard Plan.
Both brokers use technology-driven platforms to attract active traders and investors, but the better option depends on the combination of pricing, products, services, and support that matters most to you.
HDFC Securities vs Dhan — A Comprehensive Company Overview
| Company Overview | HDFC Securities | Dhan |
|---|---|---|
| Company Type | Private | Private |
| Broker Type | Discount Broker | Discount Broker |
| Headquarters | Mumbai | Mumbai |
| Founder | Dhiraj Relli | Pravin Jadhav |
| Establishment Year | 2000 | 2018 |
| Brokerage Plan | Starter Pack – Lite 199 | Standard Plan |
Brokerage is the primary cost to compare when choosing a broker. Below is a segment-by-segment breakdown for HDFC Securities and Dhan.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. HDFC Securities charges 0.32% of Transaction Value while Dhan charges Free.
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. HDFC Securities charges 0.032% of Transaction Value while Dhan charges Rs.20 per Trade or 0.03% (Whichever is Low).
Equity futures: This charge applies to futures contracts on stocks and indices. HDFC Securities charges Rs.20 per Trade while Dhan charges Rs.20 per Trade or 0.03% (Whichever is Low).
Equity options: This charge applies to equity option contracts. HDFC Securities charges Rs.20 per Trade while Dhan charges Rs.20 per Trade.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. HDFC Securities charges 0.025% of Transaction Value while Dhan charges Rs.20 per Trade or 0.03% (Whichever is Low).
Commodity options: This charge applies to option contracts on commodity instruments. HDFC Securities charges Rs.20 per Lot while Dhan charges Rs.20 per Trade.
Currency futures: This charge allows participation in forex price movements on the exchange. HDFC Securities charges 0.025% of Transaction Value while Dhan charges Rs.20 per Trade or 0.03% (Whichever is Low).
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. HDFC Securities charges Rs.25 per Lot while Dhan charges Rs.20 per Trade.
HDFC Securities vs Dhan — Detailed Brokerage Comparison
| Brokerage | HDFC Securities | Dhan |
|---|---|---|
| Brokerage Plan | Starter Pack – Lite 199 | Standard Plan |
| Subscription Charges | Zero | Zero |
| Equity Delivery | 0.32% of Transaction Value | Free |
| Equity Intraday | 0.032% of Transaction Value | Rs.20 per Trade or 0.03% (Whichever is Low) |
| Equity Future | Rs.20 per Trade | Rs.20 per Trade or 0.03% (Whichever is Low) |
| Equity Option | Rs.20 per Trade | Rs.20 per Trade |
| Commodity Future | 0.025% of Transaction Value | Rs.20 per Trade or 0.03% (Whichever is Low) |
| Commodity Option | Rs.20 per Lot | Rs.20 per Trade |
| Currency Future | 0.025% of Transaction Value | Rs.20 per Trade or 0.03% (Whichever is Low) |
| Currency Option | Rs.25 per Lot | Rs.20 per Trade |
HDFC Securities provides mobile app access, web trading and desktop terminal access for order placement, portfolio tracking, and market monitoring. Dhan provides mobile app access and web trading for its users.
Android app: HDFC Securities and Dhan both list an Android trading app.
iOS app: HDFC Securities and Dhan both list an iOS trading app.
Web trading platform: HDFC Securities and Dhan both list a web trading platform.
Desktop trading terminal: HDFC Securities lists a desktop trading terminal, while Dhan does not currently mention it.
Algo trading: Neither broker currently highlights algo trading support.
Basket trading: HDFC Securities and Dhan both list basket trading.
Foreign stocks platform: HDFC Securities lists foreign stocks access, while Dhan does not currently mention it.
Mutual fund platform: HDFC Securities and Dhan both list a mutual fund investment platform.
Digital gold platform: Neither broker currently highlights digital gold investing.
Bonds platform: HDFC Securities lists a bonds investment platform, while Dhan does not currently mention it.
HDFC Securities vs Dhan — Complete Comparison of Trading Platforms
| Trading Platform | HDFC Securities | Dhan |
|---|---|---|
| Android App | HDFC Securities Android App Link | Dhan Android App Link |
| iOS App | HDFC Securities iOS App Link | Dhan iOS App Link |
| Web Trading Platform | HDFC Securities Web Trading Link | Dhan Web Trading Link |
| Trading Terminal | Available | NA |
| Algo Trading Platform | NA | NA |
| Foreign Stocks Platform | Available | NA |
| Basket Trading Platform | Available | Available |
| Mutual Fund Platform | Available | Available |
| Digital Gold Platform | NA | NA |
| Bonds Platform | Available | NA |
HDFC Securities highlights trading features including watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and global indices tracking, while Dhan promotes watchlists, real-time updates, portfolio tracking, online mutual fund access, interactive charts and live market tracking. The table below shows the full feature set for both brokers side by side.
Wishlist: Monitor specific stocks or assets by adding them to a watchlist for close tracking. Both HDFC Securities and Dhan offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both HDFC Securities and Dhan offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both HDFC Securities and Dhan offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Both HDFC Securities and Dhan offer this feature.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. HDFC Securities offers this; Dhan does not currently highlight it.
Global indices: Real-time data on leading global stock market indices. HDFC Securities offers this; Dhan does not currently highlight it.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Both HDFC Securities and Dhan offer this feature.
Live market: Live updates on market movements and trends. Both HDFC Securities and Dhan offer this feature.
Secure platform: A secure trading environment with next-generation security controls. Both HDFC Securities and Dhan offer this feature.
HDFC Securities vs Dhan — Comprehensive Comparison of Trading Features
| Trading Feature | HDFC Securities | Dhan |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes |
| Online MF Buy | Yes | Yes |
| Research Reports | Yes | No |
| Global Indices | Yes | No |
| Customised Recommendations | No | No |
| Stock Tips | No | No |
| Interactive Charts | Yes | Yes |
| Live Market | Yes | Yes |
| Multi Profile Management | No | No |
| Robust & Secure Platform | Yes | Yes |
Stockbrokers use promotional offers to attract and retain clients. Below is a side-by-side comparison of the offers currently listed by HDFC Securities and Dhan.
Free account opening: Dhan lists free account opening, while HDFC Securities does not currently mention it.
Free AMC: Dhan lists free Demat AMC, while HDFC Securities does not currently mention it.
Free brokerage: Dhan lists free brokerage, while HDFC Securities does not currently mention it.
Flat brokerage: HDFC Securities and Dhan both list flat brokerage pricing.
Flexible brokerage plans: HDFC Securities lists flexible brokerage plans, while Dhan does not currently mention it.
Happy trading hours: Neither broker currently highlights happy trading hours.
Free delivery trading: Dhan lists free delivery trading, while HDFC Securities does not currently mention it.
Free intraday trading: Neither broker currently highlights free intraday trading.
Free F&O trading: Neither broker currently highlights free F&O trading.
Free research reports: HDFC Securities lists free research reports, while Dhan does not currently mention it.
Free trading calls: HDFC Securities lists free trading calls, while Dhan does not currently mention it.
Zero brokerage for loss trades: Neither broker currently highlights zero brokerage for loss-making trades.
Referral offers: HDFC Securities offers Rs.200 per Client while Dhan offers 20% of Revenue for referrals.
HDFC Securities vs Dhan — Comparison of Latest Offers
| Offer | HDFC Securities | Dhan |
|---|---|---|
| Free Account Opening | No | Yes |
| Free AMC | No | Yes |
| Free Brokerage | No | Yes, Limited |
| Flat Brokerage | Yes, Limited | Yes |
| Flexible Brokerage Plans | Yes | No |
| Happy Trading Hours | No | No |
| Free Delivery Trading | No | Yes |
| Free Intraday Trading | No | No |
| Free F&O Trading | No | No |
| Free Research Reports | Yes | No |
| Free Trading Calls | Yes | No |
| Referral Offers | Rs.200 per Client | 20% of Revenue |
| Margin Funding / Pledging | Yes | Yes |
| Brokerage Cashback | No | No |
| Zero Brokerage for Loss-Making Trades | No | No |
Product availability determines whether a broker can support your preferred markets. HDFC Securities highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures, while Dhan highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures.
The table below compares the full product lineup side by side across equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options, currency futures, currency options, foreign stocks, mutual funds, banking services, insurance, corporate bonds, government bonds and bonds.
HDFC Securities vs Dhan — Complete Comparison of Products
| Product | HDFC Securities | Dhan |
|---|---|---|
| Equity Delivery | Yes | Yes |
| Equity Intraday | Yes | Yes |
| Equity Option | Yes | Yes |
| Equity Future | Yes | Yes |
| Commodity Option | Yes | Yes |
| Commodity Future | Yes | Yes |
| Currency Option | Yes | Yes |
| Currency Future | Yes | Yes |
| Foreign Stocks | Yes | No |
| Mutual Funds | Yes | Yes |
| Banking | Yes | No |
| Insurance | Yes | No |
| Corporate Bonds | Yes | No |
| Government Bonds | Yes | No |
| Digital Gold | No | No |
Demat services: HDFC Securities and Dhan both list Demat services.
Trading services: HDFC Securities and Dhan both list trading services.
Intraday services: HDFC Securities and Dhan both list intraday trading services.
F&O services: HDFC Securities and Dhan both list F&O services.
IPO services: HDFC Securities and Dhan both list IPO services.
3-in-1 account: HDFC Securities lists 3-in-1 account support, while Dhan does not currently mention it.
Stock research: HDFC Securities lists stock research, while Dhan does not currently mention it.
Stock recommendations: HDFC Securities lists stock recommendations, while Dhan does not currently mention it.
Trading education: Neither broker currently highlights trading education.
Share pledging: HDFC Securities lists share pledging, while Dhan does not currently mention it.
PMS or PCG: HDFC Securities lists PMS or PCG support, while Dhan does not currently mention it.
NRI services: HDFC Securities lists NRI services, while Dhan does not currently mention it.
HDFC Securities provides Demat services, trading services, intraday trading, F&O trading, IPO access and 3-in-1 account support, while Dhan offers Demat services, trading services, intraday trading, F&O trading and IPO access.
HDFC Securities vs Dhan — In-Depth Comparison of Services
| Service | HDFC Securities | Dhan |
|---|---|---|
| Demat Services | Yes | Yes |
| Trading Services | Yes | Yes |
| Intraday Services | Yes | Yes |
| F&O Services | Yes | Yes |
| IPO Services | Yes | Yes |
| 3-in-1 Account | Yes | No |
| Stock Research | Yes | No |
| Stock Recommendations | Yes | No |
| Trading Education | No | No |
| Share Pledging | Yes | No |
| PMS or PCG | Yes | No |
| NRI Services | Yes | No |
Stock advisory helps investors choose appropriate stocks through research reports, tips, and market reviews. The table below shows which advisory products are available from HDFC Securities and Dhan.
HDFC Securities and Dhan — Detailed Comparison of Advisory Services
| Advisory | HDFC Securities | Dhan |
|---|---|---|
| Fundamental Reports | Yes | No |
| Research Reports | Yes | No |
| Company Reports | Yes | No |
| Annual Reports | Yes | No |
| IPO Reports | Yes | No |
| Technical Reports | Yes | No |
| Stock Tips | Yes | Yes, chargeable |
| Daily Top Stock Picks | Yes | No |
| Daily Market Review | Yes | No |
| Monthly Review | Yes | No |
| Weekly Review | Yes | No |
| Relationship Manager | No | Yes, chargeable |
| Robo Advisory | No | No |
Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from HDFC Securities and Dhan across different segments.
HDFC Securities and Dhan — Comprehensive Comparison of Trading Exposure
| Exposure | HDFC Securities | Dhan |
|---|---|---|
| Equity Delivery | 1x | 1x |
| Equity Intraday | Upto 5x (Depends on Stocks) | Upto 5x (Depends on Stocks) |
| Equity F&O Carry Forward | 1x | 1x |
| Equity F&O Intraday | 1.3x | 1.3x |
| Commodity F&O Carry Forward | 1x | 1x |
| Commodity F&O Intraday | 1.3x | 1.3x |
| Currency F&O | 1x | 1x |
HDFC Securities and Dhan both list a sub-broker program. HDFC Securities and Dhan both list a partner program. HDFC Securities and Dhan both list a referral program.
HDFC Securities vs Dhan — Comparative Analysis of Programs
| Program | HDFC Securities | Dhan |
|---|---|---|
| Sub-Broker Program | Yes, Limited | Yes, Limited |
| Partner Program | Yes | Yes |
| Referral Program | Yes | Yes |
HDFC Securities provides support through trading desk support, dedicated dealer assistance, call support, website support and Facebook support. Dhan provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. HDFC Securities operates Available branches.
HDFC Securities and Dhan — Comprehensive Comparison of Customer Support
| Support Channel | HDFC Securities | Dhan |
|---|---|---|
| Trading Support | Available, Free | Available, Chargeable |
| Dedicated Dealer | Available, Free | Available, Chargeable |
| Call Support | 022-39019400 | 022-48906273 |
| Email Support | NA | [email protected] |
| WhatsApp Support | NA | NA |
| Website Support | Website Link | Website Link |
| Facebook Support | Facebook Support Link | Facebook Support Link |
| Twitter / X Support | Twitter Support Link | Twitter Support Link |
| Telegram Support | Telegram Support Link | Telegram Support Link |
| Branches / Offices | Available | NA |
Both brokers have been evaluated across key parameters to help investors make an informed comparison. HDFC Securities carries an overall rating of 9.50 / 10, while Dhan carries an overall rating of 7.26 / 10.
HDFC Securities vs Dhan — Ratings Comparison
| Rating Parameter | HDFC Securities | Dhan |
|---|---|---|
| Overall Rating | 9.50 / 10 | 7.26 / 10 |
| Customer Support | 9.46 / 10 | 7.23 / 10 |
| Technology | 9.61 / 10 | 7.35 / 10 |
| Charges | 9.53 / 10 | 7.29 / 10 |
| Products & Services | 9.44 / 10 | 7.22 / 10 |
| Experience | 9.42 / 10 | 7.20 / 10 |
SEBI, BSE, and NSE regularly publish broker complaint data as part of investor protection oversight. The table below shows the complaint records for both brokers.
HDFC Securities & Dhan — Comparison of Customer Complaints
| Complaint Metric | HDFC Securities | Dhan |
|---|---|---|
| Total Complaints Lodged | 129 | 6 |
| Total Complaints Resolved | 104 | 6 |
| % of Resolved Complaints | 80.62% | 100.00% |
| Non-Actionable Complaints | 8 | 0 |
| % of Non-Actionable Complaints | 6.20% | 0.00% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for HDFC Securities and Dhan.
HDFC Securities vs Dhan — Detailed Comparison of Transaction Charges
| Transaction Charges | HDFC Securities | Dhan |
|---|---|---|
| Equity Delivery | NSE Rs 297 per Cr (0.00297%) | BSE Rs 375 per Cr (0.00375%) (each side) | 0.00325% (NSE) & 0.00375% (BSE) |
| Equity Intraday | NSE Rs 297 per Cr (0.00297%) | BSE Rs 375 per Cr (0.00375%) (sell side) | 0.00325% (NSE) & 0.00375% (BSE) |
| Equity Future | NSE Rs 173 per Cr (0.00173%) | BSE Rs 0 | 0.0019% (NSE & BSE) |
| Equity Option | NSE Rs 3503 per Cr (0.03503%) | BSE Rs 325 per Cr (0.00325%) (on premium) | 0.05% (on premium) |
| Commodity Future | 0.0021% (Non-Agri) / 0.006% (Agri) / 0.0005% (Special) | |
| Commodity Option | 0.05% (Non Agri) | |
| Currency Future | NSE Rs 35 per Cr (0.00035%) | BSE Rs 45 per Cr (0.00045%) | 0.0009% (NSE) & 0.00022% (BSE) |
| Currency Option | NSE Rs 3110 per Cr (0.0311%) | BSE Rs 100 per Cr (0.001%) (on premium) | 0.035% (NSE) & 0.001% (BSE) |
Pledge creation charges apply when traders borrow against their held securities. Pledge invocation charges apply if the pledged shares are sold due to a shortfall. Margin trading interest is the rate charged on borrowed funds.
HDFC Securities & Dhan — Comprehensive Comparison of Pledge Charges
| Pledge Charge | HDFC Securities | Dhan |
|---|---|---|
| Pledge Creation Charges | Rs.12.5 per Request | |
| Pledge Invocation Charges | Rs.12.5 per Request | |
| Margin Trading Interest | 0.045% per day |
Beyond brokerage, several statutory and operational charges apply. These include SEBI turnover fees, DP charges, GST, account closure, reactivation, dematerialisation, and call & trade charges.
HDFC Securities and Dhan — Detailed Comparison of Hidden / Other Charges
| Charge | HDFC Securities | Dhan |
|---|---|---|
| SEBI Turnover Charges | 0.0001% (₹10/Crore) of the turnover | Rs.10/ Crore (All Segment) |
| DP Charges | Rs.12.5 per Scrip on Sell | |
| GST | 18% on (Brokerage + Transaction Charge + SEBI Fee) | 18% on (Brokerage + SEBI + Transaction charges) |
| Account Closure Charges | Nil | |
| Reactivation Charges | Nil | |
| Dematerialisation Charges | Rs.20 per Certificate | |
| Call & Trade Charges | Rs.20 per Trade |
HDFC Securities lists account opening charges of Rs.199 and Demat AMC of Rs.750 per Year. Dhan lists account opening charges of Free and Demat AMC of Free.
HDFC Securities vs Dhan — Detailed Comparison of Demat Charges
| Demat Charges | HDFC Securities | Dhan |
|---|---|---|
| Account Opening Charges | Rs.199 | Free |
| Annual Maintenance Charges (AMC) | Rs.750 per Year | Free |
Securities Transaction Tax (STT) and Commodity Transaction Tax (CTT) are government levies — the same for all brokers in India. These are shown below for reference.
HDFC Securities vs Dhan — Comparative Analysis of STT and CTT Charges
| STT & CTT | HDFC Securities | Dhan |
|---|---|---|
| Equity Delivery | 0.1% of total transaction value | 0.1% on buy & sell |
| Equity Intraday | 0.025% of turnover | 0.025% on sell |
| Equity Future | 0.01% of turnover | 0.0125% on sell |
| Equity Option | 0.05% | 0.0625% on sell (on premium) |
| Commodity Future | 0.01% | 0.01% on sell (Non-Agri) |
| Commodity Option | 0.05% | 0.05% on sell |
| Currency Future | - | Nil |
| Currency Option | - | Nil |
Stamp duty is a government tax charged when the broker issues, sells, or transfers a security. It is collected at the end of each trading day.
HDFC Securities and Dhan — Comparison of Stamp Duty Charges
| Stamp Duty | HDFC Securities | Dhan |
|---|---|---|
| Equity Delivery | 0.015% | 0.015% on buy |
| Equity Intraday | 0.003% | 0.003% on buy |
| Equity Future | 0.002% | 0.002% on buy |
| Equity Option | 0.003% | 0.003% on buy |
| Commodity Future | 0.002% | 0.002% on buy |
| Commodity Option | 0.003% (MCX) | 0.003% on buy |
| Currency Future | 0.0001% | 0.0001% on buy |
| Currency Option | 0.0001% | 0.0001% on buy |