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Dhan vs MasterSwift: Compare the Broker, Platform, and Costs

Dhan is a brokerage ecosystem; MasterSwift 2.0 is mastertrust’s desktop trading terminal. Compare workflows and current plan-specific costs before choosing.
From TheFinanceBase Team3 min to read
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Dhan and MasterSwift are not equivalent products: Dhan is a brokerage ecosystem with app and web products, while MasterSwift 2.0 is mastertrust’s desktop trading terminal. To compare them fairly, consider the broker account, the specific mastertrust plan, the instruments you trade, and your all-in costs—not just the interface or headline brokerage.

What are Dhan and MasterSwift?

Dhan offers a collection of trading and investing products, including its main app and web platform, dedicated options products, charting features, and connections to TradingView. Its product information lists access to equity, options, futures, commodities, ETFs, mutual funds, and IPOs, though features can differ between product surfaces. See Dhan’s product information.

MasterSwift 2.0 is mastertrust’s desktop trading terminal, rather than a separate broker. Mastertrust describes it as a desktop workflow for active traders, with real-time market data, advanced charts, keyboard-oriented trading, multi-segment support, chart alerts, and strategy backtesting. Its claims about speed and low latency are vendor positioning, not independently measured performance. See MasterSwift 2.0’s official product page.

So the practical comparison is Dhan’s product ecosystem and brokerage account against mastertrust’s brokerage account accessed through MasterSwift. Mastertrust publishes multiple account plans, so its pricing cannot be assessed without specifying one.

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How do the platforms and workflows compare?

Area Dhan MasterSwift 2.0 / mastertrust
Product being compared A brokerage ecosystem with app, web, and other product surfaces. A desktop trading terminal from mastertrust; the account’s broker charges depend on the chosen plan.
Emphasis in official product descriptions Trading and investing access across multiple products and instruments. Desktop-first active-trading tools, including charts, alerts, and strategy backtesting.
Devices and workflow App and web access are part of the product ecosystem. Positioned as a desktop terminal; the cited product description does not establish equivalent mobile or web functionality.
Instruments and products named by the provider Equity, options, futures, commodities, ETFs, mutual funds, and IPOs. Multi-segment support is described, but the cited product page does not enumerate the same product list.
Performance evidence Product descriptions do not establish execution quality or uptime. Speed and low-latency language is vendor positioning; no independent benchmark is established.

These are provider descriptions, not a hands-on comparison. A feature list does not show whether a particular tool fits your strategy, nor does it establish returns or execution quality.

Which is cheaper: Dhan or MasterSwift?

There is no single universal winner on cost. Dhan’s displayed brokerage rates and mastertrust’s MT20 and MTClassic plans use different pricing structures, and the relevant rate depends on the segment and order type. Compare the exact trades you expect to make, then include statutory charges, taxes, DP charges, demat AMC, and any other applicable fees.

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Dhan’s published brokerage

Dhan displays zero brokerage for equity delivery, ETFs, IPOs, and mutual funds. For equity/ETF intraday and MTF, it lists ₹20 or 0.03% of trade value per executed order, whichever is lower; for F&O, it lists ₹20 per executed order. Dhan also displays zero account-opening, AMC, and platform fees. These are published rates, subject to change; its tariff lists statutory charges, taxes, DP charges, and other charges separately. Check Dhan’s product pricing and tariff.

Mastertrust’s MT20 and MTClassic plans

Mastertrust lists MT20 and MTClassic. Its pricing summary shows differences in account-opening charges, brokerage, and demat AMC. MT20 charges ₹20 per executed order for several categories; MTClassic applies percentage or per-lot rates in some segments. The exact comparison depends on the plan and segment, and statutory charges apply. The available summary does not establish one rate that applies to every trade. Check mastertrust’s current plan pricing.

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Before opening an account or changing brokers, compare a realistic monthly mix of orders: delivery, intraday, F&O, or other segments you actually use. Use each provider’s current tariff to include applicable charges; a low headline brokerage rate does not by itself determine the total.

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Which one should you choose?

  • Consider Dhan if you want an app-and-web ecosystem that combines trading with products such as mutual funds and IPOs, and its current features and charges suit the instruments you use.
  • Consider MasterSwift 2.0 if you specifically want a desktop-focused trading terminal and its charting, alert, keyboard, or backtesting features match your workflow. Check whether mastertrust’s MT20 or MTClassic plan fits your trades.
  • Compare both on total cost using your own expected order types and frequency, adding relevant account and demat fees, statutory charges, taxes, and other applicable charges.
  • Verify current terms on the official product and tariff pages before deciding; product features and rates can change.

Dhan’s app page identifies Raise Securities Private Limited as the provider and displays SEBI Stock Broker Registration No. INZ000006031. See Dhan’s app and provider information.

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Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.

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