Dhan vs Kotak Neo
Charges and features for options traders, side by side. Published rates checked Mon, 2 Nov, 2026.
| Feature | Dhan | Kotak Neo |
|---|---|---|
| Options brokerage | ₹20 per order (also on expired, exercised or assigned contracts) | ₹10 per order (carry-forward) |
| Equity delivery | ₹0 | ₹0 for 30 days, then 0.20% (Trade Free plan) |
| Account opening | ₹0 | ₹0 (Trade Free plan) |
| Demat AMC | ₹0 | ₹0 for BSDA accounts (conditions apply) |
| Platforms | Dhan app and web | Kotak Neo app and web |
| Options tools | Option chain and trader-focused tools | Option chain |
| NSE active clients | 11.2 lakh (NSE, Sep 2026) | Not listed |
Dhan
Built around active F&O traders, with trading tools in the app.
- No AMC and free delivery
- Tools aimed at F&O traders
- ₹20 also charged on expiry, exercise or assignment
Kotak Neo
Bank-backed broker with the lowest flat F&O brokerage of this list.
- ₹10 per F&O order
- Linked to a large bank
- Percentage-based delivery brokerage after 30 days
- Plan conditions to read carefully
Want to see what your own trading would cost at each broker? Use the brokerage calculator.
Frequently asked questions
Is Dhan or Kotak Neo cheaper for options trading?
Kotak Neo charges less per options order (₹10 per order (carry-forward)). At 100 orders a month the brokerage difference is ₹1,000. Statutory charges such as STT are the same at both.
Are Dhan and Kotak Neo regulated?
Both are SEBI-registered stock brokers and members of NSE and BSE. Client money and securities are covered by the exchanges' rules on segregation.
Can I have accounts with both Dhan and Kotak Neo?
Yes. You can hold demat and trading accounts with more than one broker; each charges its own AMC.
Does the broker change STT or exchange charges?
No. STT (0.15% of premium on the sell side), exchange charges, the SEBI fee and stamp duty are the same at every broker. Only brokerage and account charges differ.