Free Dhan alternatives: 6 apps ranked by verified data

Facts checked Nov 8, 2026AppBreakup editorialHow we rank

6 of the 7 Dhan alternatives we track can be used for free (free, open source, or with a free plan). Zerodha Kite, Groww and Upstox rank highest, with facts last verified Nov 8, 2026.

Quick comparison

#	App	Pricing	Verified price	Open source	Platforms	Verified facts	Score
1	Zerodha Kite	Free plan + paid	—	No	Web, Android, iOS	8 of 8	68.8
2	Groww	Free plan + paid	—	No	Web, Android, iOS	7 of 7	64.8
3	Upstox	Free plan + paid	—	No	Web, Android, iOS	7 of 7	61.8
4	Angel One	Free plan + paid	Lower of ₹20 or 0.1% per executed equity order	No	Web, Android, iOS	9 of 9	59.4
5	5paisa	Free plan + paid	—	No	Web, Android, iOS +1	5 of 5	57.5
6	Paytm Money	Free plan + paid	—	No	Web, Android, iOS	5 of 5	55.9

1. Zerodha KiteTop pick
Best for: Self-directed Indian investors and active traders who want low, flat fees and a clean charting app
Free plan + paidWeb, Android, iOS
68.8
score / 100
Why switch from Dhan
India's largest discount broker, with a clean trading platform and free equity delivery trades.
Pros
No brokerage on equity delivery trades or direct mutual funds
Flat ₹20 cap per intraday or F&O order
Detailed charts, 20-level market depth and GTT orders
Free Varsity courses and a public trading API
Cons
Annual demat maintenance charge after the first year for many accounts
No research reports or stock recommendations
Mutual funds live in a separate Coin app rather than inside Kite
Visit Zerodha Kite Details and reviews
How this score is calculated
Editorial fit ×0.3100
Reviews ×0.363
Clicks (90 days) ×0.150
Freshness ×0.15100
Votes ×0.150
0 counted reviews, 0 up and 0 down votes. Full formula
Is Zerodha Kite a good Dhan alternative?
Verified facts
8 of 8 verified
Equity delivery brokerage
₹0
Checked Nov 8, 2026zerodha.com(opens source in a new tab)
Intraday and F&O brokerage
₹20 or 0.03% per order, whichever is lower
Checked Nov 8, 2026zerodha.com(opens source in a new tab)
Account opening
Free for individual accounts
Checked Nov 8, 2026zerodha.com(opens source in a new tab)
Market depth
20 levels (level 3 data)
Checked Nov 8, 2026zerodha.com(opens source in a new tab)
Founded
2010
Checked Nov 8, 2026zerodha.com(opens source in a new tab)
Intraday brokerage
₹20 or 0.03% per executed order, whichever is lower
Checked Nov 8, 2026zerodha.com(opens source in a new tab)
Options brokerage
Flat ₹20 per executed order
Checked Nov 8, 2026zerodha.com(opens source in a new tab)
Demat AMC
₹300 a year + GST (non-BSDA accounts)
Checked Nov 8, 2026zerodha.com(opens source in a new tab)
2. Groww
Best for: First-time investors in India who want mutual funds and stocks in one simple app
Free plan + paidWeb, Android, iOS
64.8
score / 100
Why switch from Dhan
Simpler app for mutual funds and stocks, suited to beginners more than active options traders.
Pros
No account opening or maintenance charges
Direct mutual funds and SIPs with zero commission
Beginner-friendly app that also covers US stocks and IPOs
Cons
Equity delivery trades carry brokerage, unlike Zerodha's ₹0
Advanced trading tools are split into separate terminal products
Runs its own mutual funds alongside third-party ones
Visit Groww Details and reviews
How this score is calculated
Editorial fit ×0.387
Reviews ×0.363
Clicks (90 days) ×0.150
Freshness ×0.15100
Votes ×0.150
0 counted reviews, 0 up and 0 down votes. Full formula
Is Groww a good Dhan alternative?
Verified facts
7 of 7 verified
Account opening
₹0
Checked Nov 8, 2026groww.in(opens source in a new tab)
Account maintenance
₹0
Checked Nov 8, 2026groww.in(opens source in a new tab)
Equity brokerage
₹20 or 0.1% per order, whichever is lower
Checked Nov 8, 2026groww.in(opens source in a new tab)
Customers
50 million+
Checked Nov 8, 2026groww.in(opens source in a new tab)
Mutual funds
Direct funds at zero charges
Checked Nov 8, 2026groww.in(opens source in a new tab)
MTF interest
14.95% a year on the funded amount
Checked Nov 8, 2026groww.in(opens source in a new tab)
Pledge charge
₹20 per ISIN
Checked Nov 8, 2026groww.in(opens source in a new tab)
3. Upstox
Best for: Indian traders who want flat-fee F&O trading with TradingView charts and API access
Free plan + paidWeb, Android, iOS
61.8
score / 100
Why switch from Dhan
Low-cost broker with a trading app and charting, a close alternative for active traders in India.
Pros
Flat ₹20 maximum brokerage per order across segments
No brokerage on mutual funds and IPOs
TradingView charts and a trading API built in
Cons
Equity delivery trades cost ₹20 per order, not free
Account maintenance charge applies after the first year
No research or stock advisory like a full-service broker
Visit Upstox Details and reviews
How this score is calculated
Editorial fit ×0.377
Reviews ×0.363
Clicks (90 days) ×0.150
Freshness ×0.15100
Votes ×0.150
0 counted reviews, 0 up and 0 down votes. Full formula
Is Upstox a good Dhan alternative?
Verified facts
7 of 7 verified
Equity delivery brokerage
₹20 per executed order
Checked Nov 8, 2026upstox.com(opens source in a new tab)
Mutual funds and IPOs
₹0 brokerage
Checked Nov 8, 2026upstox.com(opens source in a new tab)
Account maintenance
₹0 in the first year, then ₹300 + GST (non-BSDA)
Checked Nov 8, 2026upstox.com(opens source in a new tab)
Broking licence
2010
Checked Nov 8, 2026upstox.com(opens source in a new tab)
Users
2 crore+
Checked Nov 8, 2026upstox.com(opens source in a new tab)
Equity options brokerage
Flat ₹20 per executed order
Checked Nov 8, 2026upstox.com(opens source in a new tab)
Account opening
Free
Checked Nov 8, 2026upstox.com(opens source in a new tab)
4. Angel One
Best for: Indian investors who want research and recommendations along with a low-cost trading app
Free plan + paidWeb, Android, iOS
59.4
score / 100
Why switch from Dhan
Full-service broker with research and advisory alongside discount pricing, for traders who want guidance.
Pros
Free account opening and no maintenance charge in year one
Research reports and stock recommendations included
No commission on mutual funds and IPO applications
Cons
Free brokerage lasts only 30 days, then per-order fees apply
Recommendations and promotions can be pushy for self-directed investors
Maintenance charge applies after the first year
Visit Angel One Details and reviews
How this score is calculated
Editorial fit ×0.369
Reviews ×0.363
Clicks (90 days) ×0.150
Freshness ×0.15100
Votes ×0.150
0 counted reviews, 0 up and 0 down votes. Full formula
Is Angel One a good Dhan alternative?
Verified facts
9 of 9 verified
Account opening
₹0
Checked Nov 8, 2026angelone.in(opens source in a new tab)
Introductory brokerage
₹0 for the first 30 days, up to ₹500
Checked Nov 8, 2026angelone.in(opens source in a new tab)
Mutual funds and IPOs
₹0 commission
Checked Nov 8, 2026angelone.in(opens source in a new tab)
Registered users
3.8 crore+
Checked Nov 8, 2026angelone.in(opens source in a new tab)
Digital since
2019
Checked Nov 8, 2026angelone.in(opens source in a new tab)
Starting price
Lower of ₹20 or 0.1% per executed equity order
Checked Nov 8, 2026angelone.in(opens source in a new tab)
F&O brokerage
₹20 per executed order
Checked Nov 8, 2026angelone.in(opens source in a new tab)
Introductory offer
₹0 brokerage up to ₹500 for the first 30 days
Checked Nov 8, 2026angelone.in(opens source in a new tab)
AMC
₹0 for the first year
Checked Nov 8, 2026angelone.in(opens source in a new tab)
5. 5paisa
Best for: Indian traders who want flat ₹20 orders, F&O tools and algo trading from a listed broker
Free plan + paidWeb, Android, iOS, Windows
57.5
score / 100
Why switch from Dhan
Another flat-fee broker with an F&O platform, algo tools and US stocks.
Pros
Flat fee per order across delivery, intraday and F&O
Free account opening and a brokerage-free first month
Algo trading, APIs and US stocks in one account
Cons
Equity delivery trades are charged, unlike Zerodha or Dhan
Extra charges for call-and-trade and auto square-off
Lots of separate platforms to choose between
Visit 5paisa Details and reviews
How this score is calculated
Editorial fit ×0.363
Reviews ×0.363
Clicks (90 days) ×0.150
Freshness ×0.15100
Votes ×0.150
0 counted reviews, 0 up and 0 down votes. Full formula
Is 5paisa a good Dhan alternative?
Verified facts
5 of 5 verified
Brokerage
₹20 per order, all segments
Checked Nov 8, 20265paisa.com(opens source in a new tab)
Account opening
₹0
Checked Nov 8, 20265paisa.com(opens source in a new tab)
Intro offer
Zero brokerage for the first 30 days
Checked Nov 8, 20265paisa.com(opens source in a new tab)
Listing
First listed discount broker in India
Checked Nov 8, 20265paisa.com(opens source in a new tab)
Algo trading
AlgoSpace
Checked Nov 8, 20265paisa.com(opens source in a new tab)
6. Paytm Money
Best for: Paytm users in India who want mutual funds, stocks and NPS in one app
Free plan + paidWeb, Android, iOS
55.9
score / 100
Why switch from Dhan
Low-cost investing inside the Paytm ecosystem, convenient for mutual funds, stocks and NPS in one app.
Pros
No account maintenance charge for life
Direct mutual funds with no transaction fee
NPS retirement investing in the same app
Cons
Free brokerage for new users is capped and lasts only a month
No US stocks, unlike Groww, Dhan or INDmoney
Fewer advanced trading tools than trader-focused brokers
Visit Paytm Money Details and reviews
How this score is calculated
Editorial fit ×0.357
Reviews ×0.363
Clicks (90 days) ×0.150
Freshness ×0.15100
Votes ×0.150
0 counted reviews, 0 up and 0 down votes. Full formula
Is Paytm Money a good Dhan alternative?
Verified facts
5 of 5 verified
Account maintenance
₹0 for life
Checked Nov 8, 2026paytmmoney.com(opens source in a new tab)
Intro offer
₹0 brokerage for 30 days, up to ₹100
Checked Nov 8, 2026paytmmoney.com(opens source in a new tab)
Mutual funds
No transaction fee
Checked Nov 8, 2026paytmmoney.com(opens source in a new tab)
NPS
Yes (registered NPS point of presence)
Checked Nov 8, 2026paytmmoney.com(opens source in a new tab)
Investors
6 million+
Checked Nov 8, 2026paytmmoney.com(opens source in a new tab)

Quick comparison

1. Zerodha KiteTop pick

Pros

Cons

Verified facts

2. Groww

Pros

Cons

Verified facts

3. Upstox

Pros

Cons

Verified facts

4. Angel One

Pros

Cons

Verified facts

5. 5paisa

Pros

Cons

Verified facts

6. Paytm Money

Pros

Cons

Verified facts