India now has more than 21 crore demat accounts, and two platforms have led this retail surge more than any others, namely, Groww and Dhan. Groww was founded in 2016 and became the gateway for millions of first-time investors with its mutual fund platform. Dhan was launched in 2021 by Raise Securities Private Limited and took a different path to build India’s most technology-advanced trading platform, offering institutional-grade tools for active traders.
Both offer zero account opening fees & zero AMC. But beyond that shared headline, the two platforms have little in common. If you are considering opening a demat account in 2026, knowing precisely where Groww and Dhan differ in terms of charges, features and platform capabilities will help you make the right choice for your financial goals. Let’s explore this in detail.
Account opening and AMC charges
Both platforms make it easy and free to get started in the Indian financial markets. Dhan offers a zero AMC account opening and no annual charge on the trading account or on the Demat account. If a beginner market participant wants to open demat account without any recurring costs, Dhan has formalised this commitment with no charges attached. Dhan DP transaction charges are Rs. 12.50 / instruction / ISIN + GST.
Groww also charges zero account opening charges and zero AMC. However, Groww’s DP charges on buying and selling shares are Rs. 0 for intraday and Rs. 20 per sell transaction for delivery, which includes Rs. 3.50 of CDSL and Rs. 16.50 of Groww and not per ISIN per day. Female investors pay slightly less at a sale transaction, which is Rs 19.75.
Brokerage charges
Both are discount brokers that have flat-fee pricing models, but there are some differences in their pricing structure, like.
| Segment | Dhan | Groww |
| Equity Delivery | ₹0 (Free) | ₹20 or 0.1%, minimum ₹5 |
| Equity Intraday | ₹20 or 0.03% (whichever is lower) | ₹20 or 0.1%, minimum ₹5 |
| F&O (Options & Futures) | ₹20 per executed order | ₹20 per executed order |
| Commodity Futures & Options | ₹20 per executed order | ₹20 per executed order |
| Direct Mutual Funds | ₹0 | ₹0 |
| Account Opening / AMC | ₹0 / ₹0 | ₹0 / ₹0 |
The biggest pricing difference is in brokerage charges for equity delivery. Dhan charges zero brokerage on all equity delivery trades, whereas Groww charges the lower of Rs. 20 or 0.1% with a minimum of Rs. 5 per order, which implies that all small delivery trades on Groww have a minimum guaranteed cost.
Trading platform and features
Groww has built its reputation on simplicity. The Groww trading platform offers a clean, fast and accessible interface to beginners with the intuitive interface of stocks, mutual funds, IPOs, ETFs, and fixed deposits under one roof.
Groww’s 915 Terminal is an advanced charting and F&O tool for active traders. Groww is the largest stockbroker in India in terms of active users, with 1.24 crores active clients. Groww offers MTF leverage of 4x at 14.95% p.a. to traders to maximise their buying power.
Dhan is built for active and advanced traders. Its multi-platform ecosystem comprises the Dhan App, Dhan Web, a dedicated Options Trader App and Options Trader Web with the Options Strategy Builder, TradingView integration for chart-based order placement and DhanHQ offering free API access for algo traders.
The DEXT execution engine processes 95% of orders under 25 milliseconds. Dhan also offers SLBM, by which investors can earn up to 35% p.a. by lending their idle stock holdings and MTF leverage of 4x at 12.49% p.a. on 1,700+ stocks. Most importantly, Dhan has launched DEXT T3 Trading Terminal where users can explore advanced features and trades being placed under the record time.
Mutual funds and investment products
Both platforms have zero-commission direct mutual funds. Groww was started as a mutual fund platform in 2016 and offers a mutual fund discovery interface with funds comparison tools, SIP calculators and portfolio analytics built around the investment use case. Groww AMC is also running its own mutual fund house.
Dhan supports direct mutual funds at zero commission, SIP for ETFs, IPO applications through UPI, smallcase investments and NFO applications. Dhan’s edge is in bringing investing and active trading into one, unified account without having to have a different app for each activity.
Who should select which platform?
If you are a first-time investor or a mutual fund buyer, consider Groww for the simple and easy-to-use interface, India’s top broker in terms of active clients, and a proven platform with robust beginner education resources.
Consider Dhan if you are an active Equity or F&O trader looking for zero brokerage delivery, fast order execution infrastructure, options strategy builder, free API access, MCX commodity coverage and a platform built especially for serious market participants.
Conclusion
Both Dhan and Groww are popular brokerage platforms in India, but they cater to fundamentally different market participants. Groww was initially built as a direct mutual fund distribution platform, which later became one of India’s leading fintech investment platforms. Dhan was built to provide advanced tools and features to retail participants, which were previously only available to big institutional players.
Thus, both have their unique features, and market participants should select the platform that best aligns with their financial objectives.
