Brokers · Angel One vs Dhan
Angel One vs Dhan: which demat account is better in 2026
Bundled research versus zero-AMC trader tooling. Cost-first, disclosed, and informational, not a recommendation to open any specific account.
The verdict
Angel One and Dhan both charge zero delivery brokerage and a flat 20 rupees per executed order on F&O, so the deciding factor is guided full-service heritage versus pure trader tooling: Angel One suits the investor who wants bundled research and advisory despite a conditional AMC that can become a recurring monthly charge, while Dhan suits the self-directed options and intraday trader who wants zero AMC and a derivatives-first platform.
BazaarBaaziSource & method
Which suits whomAngel One 72 · Dhan 81
The fast read on who each account fits. The cost-fit score is a BazaarBaazi 0 to 100 number for the lens of this matchup (bundled research versus zero-amc trader tooling); the factor breakdown below shows exactly how it is built.
Best for
Angel One
Investors who want bundled research, advisory and a branch network behind their discount account.
Cost-fit score
72 / 100
Strengths
- Bundled research, smart-money advisory and ready-made baskets, useful for guided investors.
- Flat-fee pricing on intraday and F&O despite a full-service heritage.
- Long-established listed broker with a wide branch and support footprint.
Trade-offs
- AMC structure is conditional and can become a recurring monthly charge after the first year.
- More cross-sell and advisory prompts in the app than the lean discount brokers.
Best for
Dhan
Active options and intraday traders who want zero AMC and a fast, derivatives-first platform.
Cost-fit score
81 / 100
Strengths
- Zero AMC and a derivatives-first interface built for active options traders.
- Fast order placement, options chain analytics, and TradingView charting.
- No clutter or heavy cross-sell, a lean platform aimed at serious traders.
Trade-offs
- Newer and smaller than the incumbents, with a shorter public track record.
- Best suited to traders; a pure long-term investor gains less from the trader tooling.
The comparison, side by sideIndicative 2026
Charges are the published flat-fee structures of Angel One and Dhan as of 2026. Statutory charges (STT, exchange transaction, GST, SEBI and stamp) are the same across brokers and sit on top of the brokerage below.
| Angel One | Dhan | |
|---|---|---|
| Account opening | Free | Free |
| Annual maintenance (AMC)The recurring cost of simply holding the demat account. | Conditional AMC (first year often free, then a monthly charge) | Zero AMC |
| Equity deliveryBrokerage on buy-and-hold equity. Statutory charges still apply. | Zero brokerage on delivery | Zero brokerage |
| Equity intraday | 20 per order or 0.03 percent, whichever is lower | 20 per order or 0.03 percent, whichever is lower |
| Futures and optionsPer executed order. Statutory charges (STT, exchange, GST) are the same across brokers. | 20 per executed order | 20 per executed order |
Verify the live rate card on each broker site before opening an account. How BazaarBaazi sources this.
How the cost-fit score is builtBase 50, clamped 0 to 100
The score is deterministic: base 50, adjusted by the factors below and clamped to 0 to 100. It is a transparent cost-and-fit signal for this matchup, not a SEBI-registered rating.
Angel One · 72 / 100
Dhan · 81 / 100
Both accounts charge zero delivery brokerage and a flat 20 rupees per executed order on F&O, so the score turns on holding cost, tooling and fit rather than on trade brokerage.
Prefer Dhan?
If the Dhan side of this matchup fits you better, here is the disclosed sign-up. The cost-first comparison above does not change either way.
FAQ3 reader questions · AEO-eligible
The Angel One versus Dhan call, distilled and schema-marked for AI Overview, Perplexity, and reader search.
Is Angel One or Dhan cheaper to hold?
Dhan charges zero AMC, a permanent unconditional zero. Angel One uses a conditional AMC that is often free in the first year and can then become a recurring monthly charge. For ongoing holding cost Dhan is clearly cheaper; verify Angel One's current AMC terms if you plan to hold the account long term.
Which is better for F&O, Angel One or Dhan?
Both charge a flat 20 rupees per executed order on F&O, so the brokerage is identical. Dhan is built specifically for derivatives traders with an options chain and TradingView charts. Angel One offers flat-fee F&O pricing alongside bundled research, which suits a trader who also wants advisory support.
Does Angel One offer research that Dhan does not?
Yes. Angel One bundles research, smart-money advisory and ready-made baskets aimed at guided investors. Dhan is deliberately lean and aimed at self-directed traders who want fast execution and analytics rather than curated advice. Choose Angel One for guidance and Dhan for independence at a zero AMC.
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