SBI Securities and Dhan are two stockbrokers that investors often compare for brokerage charges, products, trading platforms, and account costs. SBI Securities is listed as a Public Discount Broker , established in Arun Mehta 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 SBI Securities or Dhan is a better fit for your investment style, platform preference, and budget.
SBI Securities is listed as a Public Discount Broker established in Arun Mehta with headquarters in Mumbai and founded by Arun Mehta. 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 stock tips. It follows a Standard Plan 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.
SBI Securities vs Dhan — A Comprehensive Company Overview
| Company Overview | SBI Securities | Dhan |
|---|---|---|
| Company Type | Public | Private |
| Broker Type | Discount Broker | Discount Broker |
| Headquarters | Mumbai | Mumbai |
| Founder | Arun Mehta | Pravin Jadhav |
| Establishment Year | Arun Mehta | 2018 |
| Brokerage Plan | Standard Plan | Standard Plan |
Brokerage is the primary cost to compare when choosing a broker. Below is a segment-by-segment breakdown for SBI Securities and Dhan.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. SBI Securities charges 0.50% of Transaction Value while Dhan charges Free.
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. SBI Securities charges 0.075% 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. SBI Securities charges 0.05% of Transaction Value while Dhan charges Rs.20 per Trade or 0.03% (Whichever is Low).
Equity options: This charge applies to equity option contracts. SBI Securities charges Rs.50 to Rs.100 per lot while Dhan charges Rs.20 per Trade.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. SBI Securities charges 0.05% 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. SBI Securities charges Rs.50 to Rs.100 per lot while Dhan charges Rs.20 per Trade.
Currency futures: This charge allows participation in forex price movements on the exchange. SBI Securities charges 0.05% 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. SBI Securities charges Rs.20 to Rs.30 per lot while Dhan charges Rs.20 per Trade.
SBI Securities vs Dhan — Detailed Brokerage Comparison
| Brokerage | SBI Securities | Dhan |
|---|---|---|
| Brokerage Plan | Standard Plan | Standard Plan |
| Subscription Charges | Zero | Zero |
| Equity Delivery | 0.50% of Transaction Value | Free |
| Equity Intraday | 0.075% of Transaction Value | Rs.20 per Trade or 0.03% (Whichever is Low) |
| Equity Future | 0.05% of Transaction Value | Rs.20 per Trade or 0.03% (Whichever is Low) |
| Equity Option | Rs.50 to Rs.100 per lot | Rs.20 per Trade |
| Commodity Future | 0.05% of Transaction Value | Rs.20 per Trade or 0.03% (Whichever is Low) |
| Commodity Option | Rs.50 to Rs.100 per lot | Rs.20 per Trade |
| Currency Future | 0.05% of Transaction Value | Rs.20 per Trade or 0.03% (Whichever is Low) |
| Currency Option | Rs.20 to Rs.30 per lot | Rs.20 per Trade |
SBI 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: SBI Securities and Dhan both list an Android trading app.
iOS app: SBI Securities and Dhan both list an iOS trading app.
Web trading platform: SBI Securities and Dhan both list a web trading platform.
Desktop trading terminal: SBI Securities lists a desktop trading terminal, while Dhan does not currently mention it.
Algo trading: Neither broker currently highlights algo trading support.
Basket trading: SBI Securities and Dhan both list basket trading.
Foreign stocks platform: Neither broker currently highlights foreign stocks access.
Mutual fund platform: SBI Securities and Dhan both list a mutual fund investment platform.
Digital gold platform: Neither broker currently highlights digital gold investing.
Bonds platform: SBI Securities lists a bonds investment platform, while Dhan does not currently mention it.
SBI Securities vs Dhan — Complete Comparison of Trading Platforms
| Trading Platform | SBI Securities | Dhan |
|---|---|---|
| Android App | SBI Securities Android App Link | Dhan Android App Link |
| iOS App | SBI Securities iOS App Link | Dhan iOS App Link |
| Web Trading Platform | SBI Securities Web Trading Link | Dhan Web Trading Link |
| Trading Terminal | Available | NA |
| Algo Trading Platform | NA | NA |
| Foreign Stocks Platform | NA | NA |
| Basket Trading Platform | Available | Available |
| Mutual Fund Platform | Available | Available |
| Digital Gold Platform | NA | NA |
| Bonds Platform | Available | NA |
SBI Securities highlights trading features including watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and stock tips, 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 SBI Securities and Dhan offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both SBI Securities and Dhan offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both SBI Securities and Dhan offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Both SBI Securities and Dhan offer this feature.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. SBI Securities offers this; Dhan does not currently highlight it.
Stock tips: Valuable tips on stocks to buy, hold, or sell based on market trends. SBI Securities offers this; Dhan does not currently highlight it.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Both SBI Securities and Dhan offer this feature.
Live market: Live updates on market movements and trends. Both SBI Securities and Dhan offer this feature.
Multi profile management: Manage multiple trading profiles from a single account. SBI Securities offers this; Dhan does not currently highlight it.
Secure platform: A secure trading environment with next-generation security controls. Both SBI Securities and Dhan offer this feature.
SBI Securities vs Dhan — Comprehensive Comparison of Trading Features
| Trading Feature | SBI 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 | No | No |
| Customised Recommendations | No | No |
| Stock Tips | Yes | No |
| Interactive Charts | Yes | Yes |
| Live Market | Yes | Yes |
| Multi Profile Management | Yes | 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 SBI Securities and Dhan.
Free account opening: Dhan lists free account opening, while SBI Securities does not currently mention it.
Free AMC: Dhan lists free Demat AMC, while SBI Securities does not currently mention it.
Free brokerage: Dhan lists free brokerage, while SBI Securities does not currently mention it.
Flat brokerage: Dhan lists flat brokerage pricing, while SBI Securities does not currently mention it.
Flexible brokerage plans: SBI 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 SBI 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: SBI Securities lists free research reports, while Dhan does not currently mention it.
Free trading calls: SBI 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: SBI Securities offers Upto Rs.700 per Client while Dhan offers 20% of Revenue for referrals.
SBI Securities vs Dhan — Comparison of Latest Offers
| Offer | SBI Securities | Dhan |
|---|---|---|
| Free Account Opening | No | Yes |
| Free AMC | No | Yes |
| Free Brokerage | No | Yes, Limited |
| Flat Brokerage | No | 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 | Upto Rs.700 per Client | 20% of Revenue |
| Margin Funding / Pledging | Yes | Yes |
| Brokerage Cashback | Yes | No |
| Zero Brokerage for Loss-Making Trades | No | No |
Product availability determines whether a broker can support your preferred markets. SBI 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, mutual funds, banking services, insurance, corporate bonds, government bonds and bonds.
SBI Securities vs Dhan — Complete Comparison of Products
| Product | SBI 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 | No | 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: SBI Securities and Dhan both list Demat services.
Trading services: SBI Securities and Dhan both list trading services.
Intraday services: SBI Securities and Dhan both list intraday trading services.
F&O services: SBI Securities and Dhan both list F&O services.
IPO services: SBI Securities and Dhan both list IPO services.
3-in-1 account: SBI Securities lists 3-in-1 account support, while Dhan does not currently mention it.
Stock research: SBI Securities lists stock research, while Dhan does not currently mention it.
Stock recommendations: SBI Securities lists stock recommendations, while Dhan does not currently mention it.
Trading education: SBI Securities lists trading education, while Dhan does not currently mention it.
Share pledging: SBI Securities lists share pledging, while Dhan does not currently mention it.
PMS or PCG: SBI Securities lists PMS or PCG support, while Dhan does not currently mention it.
NRI services: SBI Securities lists NRI services, while Dhan does not currently mention it.
SBI 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.
SBI Securities vs Dhan — In-Depth Comparison of Services
| Service | SBI 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 | Yes, Investor Sarathi | 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 SBI Securities and Dhan.
SBI Securities and Dhan — Detailed Comparison of Advisory Services
| Advisory | SBI 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 | Yes | 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 SBI Securities and Dhan across different segments.
SBI Securities and Dhan — Comprehensive Comparison of Trading Exposure
| Exposure | SBI 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 |
SBI Securities and Dhan both list a sub-broker program. SBI Securities and Dhan both list a partner program. SBI Securities and Dhan both list a referral program.
SBI Securities vs Dhan — Comparative Analysis of Programs
| Program | SBI Securities | Dhan |
|---|---|---|
| Sub-Broker Program | Yes | Yes, Limited |
| Partner Program | Yes | Yes |
| Referral Program | Yes | Yes |
SBI Securities provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. Dhan provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. SBI Securities operates Available branches.
SBI Securities and Dhan — Comprehensive Comparison of Customer Support
| Support Channel | SBI Securities | Dhan |
|---|---|---|
| Trading Support | Available, Free | Available, Chargeable |
| Dedicated Dealer | Available, Free | Available, Chargeable |
| Call Support | 022-68545555 | 022-48906273 |
| Email Support | [email protected] | [email protected] |
| WhatsApp Support | 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. SBI Securities carries an overall rating of 8.95 / 10, while Dhan carries an overall rating of 7.26 / 10.
SBI Securities vs Dhan — Ratings Comparison
| Rating Parameter | SBI Securities | Dhan |
|---|---|---|
| Overall Rating | 8.95 / 10 | 7.26 / 10 |
| Customer Support | 8.92 / 10 | 7.23 / 10 |
| Technology | 9.06 / 10 | 7.35 / 10 |
| Charges | 8.99 / 10 | 7.29 / 10 |
| Products & Services | 8.90 / 10 | 7.22 / 10 |
| Experience | 8.88 / 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.
SBI Securities & Dhan — Comparison of Customer Complaints
| Complaint Metric | SBI Securities | Dhan |
|---|---|---|
| Total Complaints Lodged | 182 | 6 |
| Total Complaints Resolved | 162 | 6 |
| % of Resolved Complaints | 89.01% | 100.00% |
| Non-Actionable Complaints | 11 | 0 |
| % of Non-Actionable Complaints | 6.04% | 0.00% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for SBI Securities and Dhan.
SBI Securities vs Dhan — Detailed Comparison of Transaction Charges
| Transaction Charges | SBI Securities | Dhan |
|---|---|---|
| Equity Delivery | 0.00325% (NSE) & 0.00375% (BSE) | |
| Equity Intraday | 0.00325% (NSE) & 0.00375% (BSE) | |
| Equity Future | 0.0019% (NSE & BSE) | |
| Equity Option | 0.05% (on premium) | |
| Commodity Future | 0.0021% (Non-Agri) / 0.006% (Agri) / 0.0005% (Special) | |
| Commodity Option | 0.05% (Non Agri) | |
| Currency Future | 0.0009% (NSE) & 0.00022% (BSE) | |
| Currency Option | 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.
SBI Securities & Dhan — Comprehensive Comparison of Pledge Charges
| Pledge Charge | SBI 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.
SBI Securities and Dhan — Detailed Comparison of Hidden / Other Charges
| Charge | SBI Securities | Dhan |
|---|---|---|
| SEBI Turnover Charges | Rs.10/ Crore (All Segment) | |
| DP Charges | Rs.12.5 per Scrip on Sell | |
| GST | 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 |
SBI Securities lists account opening charges of Rs.850 and Demat AMC of Rs.750. Dhan lists account opening charges of Free and Demat AMC of Free.
SBI Securities vs Dhan — Detailed Comparison of Demat Charges
| Demat Charges | SBI Securities | Dhan |
|---|---|---|
| Account Opening Charges | Rs.850 | Free |
| Annual Maintenance Charges (AMC) | Rs.750 | 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.
SBI Securities vs Dhan — Comparative Analysis of STT and CTT Charges
| STT & CTT | SBI Securities | Dhan |
|---|---|---|
| Equity Delivery | 0.1% on buy & sell | |
| Equity Intraday | 0.025% on sell | |
| Equity Future | 0.0125% on sell | |
| Equity Option | 0.0625% on sell (on premium) | |
| Commodity Future | 0.01% on sell (Non-Agri) | |
| Commodity Option | 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.
SBI Securities and Dhan — Comparison of Stamp Duty Charges
| Stamp Duty | SBI Securities | Dhan |
|---|---|---|
| Equity Delivery | 0.015% on buy | |
| Equity Intraday | 0.003% on buy | |
| Equity Future | 0.002% on buy | |
| Equity Option | 0.003% on buy | |
| Commodity Future | 0.002% on buy | |
| Commodity Option | 0.003% on buy | |
| Currency Future | 0.0001% on buy | |
| Currency Option | 0.0001% on buy |