Dhan ReviewCategory: Reviews | Author: Trading Brokers | Date: September 16, 2023
Navigating the intricate realm of financial markets demands a discerning choice when it comes to selecting a brokerage partner. Within this vast landscape, Dhan Brokerage has risen to prominence, captivating the attention of traders and investors. This comprehensive review delves deep into every aspect of Dhan, providing insights into its offerings, reliability, and performance. Join us as we embark on an exploration of the financial services domain, revealing the truth about Dhan and empowering you to make well-informed decisions for your financial future.
Pros & Cons
- User-friendly and simple platforms
- Free trading and demat accounts
- Low-cost brokerage for all segments
- Access to over 3,000 stocks and ETFs
- No mutual funds or IPOs
- Rs. 50 charge for every call and trade
- New entrant in the industry with no long track record
- No margin trading or intraday leverage for delivery trades
- No advanced charting tools or technical indicators
- No dedicated customer care number or toll-free number
Dhan is a technology and product-led stock broking platform that offers a fast and easy investing and trading experience to its users. Dhan is one of the fastest-growing discount brokers in India with a large and active client base. Dhan has received positive reviews from many customers who appreciate its low-cost brokerage, user-friendly platforms, and innovative products. Dhan is registered with SEBI as a stockbroker and with CDSL as a depository participant. Dhan is also a member of the NSE, BSE, and MCX stock exchanges and offers a variety of products including Stocks, ETFs, Options, Futures, Commodities, and Currency Trading.
Dhan provides access to over 3,000 stocks and ETFs across NSE and BSE. Dhan also offers trading in options, futures, commodities, and currencies on NSE, BSE, and MCX. Dhan follows a simple flat fee brokerage model and charges clients a fixed brokerage for trading in all segments. Delivery trading is completely free, meaning you can invest in stocks with Dhan for free. Dhan charges Rs. 20 per trade or 0.03% per transaction for intraday trading and Rs. 20 per trade for options trading. Dhan also offers a 50% discount on brokerage for female customers. Dhan does not charge any account opening or maintenance fees for its trading and demat accounts. However, Dhan charges Rs. 50 for every call and trade placed by the customer.
Dhan provides seamless and hassle-free platforms to investors and traders. The trading platforms include Dhan App (mobile applications) and Dhan Web (web-based platforms). Dhan also has a separate app for options trading called Options Trader. Dhan’s platforms are powered by super-fast technology and have user-friendly and simple interfaces. Dhan also offers innovative alternatives like small cases for investment. Small cases are curated portfolios of stocks or ETFs that reflect a theme, strategy, or objective. Dhan allows you to invest in small cases with just one click and track their performance easily.
Dhan offers up to 4x leverage for investing and trading in various segments. Leverage is the use of borrowed funds to increase one’s trading position beyond what would be available from their cash balance alone. Leverage can amplify both profits and losses in trading. Dhan also provides 24/7 customer care service to prioritize all customer grievances. You can contact Dhan through phone, email, chat, or social media channels.
Dhan is a stock broking platform that follows the rules and regulations set by the Securities and Exchange Board of India (SEBI) and the stock exchanges. Dhan is registered with SEBI as a stockbroker with the registration number INZ000247534. Dhan is also a depository participant (DP) with the Central Depository Services Limited (CDSL) with the registration number IN-DP-498-2020.
Dhan is a member of the National Stock Exchange of India Limited (NSE), Bombay Stock Exchange Limited (BSE), and Multi Commodity Exchange of India Limited (MCX). Dhan offers trading and investing in various segments such as equity, derivatives, commodities, and currency. Dhan follows the guidelines and norms prescribed by the respective exchanges for each segment.
Dhan ensures that its customers’ funds and securities are safe and secure. Dhan maintains separate bank accounts and demat accounts for its own funds and securities and those of its customers. Dhan does not use customers’ funds or securities for any purpose other than fulfilling their obligations. Dhan also provides regular statements and reports to its customers regarding their transactions, balances, holdings, and margins.
Dhan complies with the anti-money laundering (AML) and know your customer (KYC) policies as per the SEBI regulations. Dhan verifies the identity, address, and other details of its customers before opening their accounts. Dhan also monitors the transactions and activities of its customers to prevent any suspicious or fraudulent activities. Dhan reports any such activities to the relevant authorities as per the law.
Dhan respects the privacy and confidentiality of its customers’ information. Dhan does not share or disclose any customer information to any third party without their consent or as required by law. Dhan also uses encryption and other security measures to protect customer information from unauthorized access or misuse. Please see a list of regulated brokers for some alternative options.
Platforms & Tools
Dhan offers various platforms to suit the needs and preferences of different types of customers. A platform is a set of software and a surrounding ecosystem of resources that helps you to grow your business. A platform enables growth through connection: its value comes not only from its own features, but from its ability to connect external tools, teams, data, and processes. Some of the platforms offered by Dhan are:
- Dhan App: This is the mobile application of Dhan that allows you to trade and invest in various segments such as stocks, ETFs, options, futures, commodities, and currencies. The app has a user-friendly and simple interface that lets you execute orders quickly and easily.
- Dhan Web: This is the web-based platform of Dhan that gives you a complete experience on your browser. You can access all the features and products of Dhan on the web platform without downloading any software.
- Options Trader: This is a separate app for options trading that allows you to trade in equity, commodity, and currency options with ease. The app has an advanced option chain and greeks that let you analyze and trade in deep ITM and OTM contracts.
Dhan also offers various tools to help you trade and invest in various securities with speed and convenience. A tool is a software product that has a simple purpose and does one thing very well. A tool is more limited in scope and will always carry a much lower cost than a platform. Some of the tools offered by Dhan are:
- TradingView Charts: This is a tool that allows you to trade directly from charts with TradingView. TradingView is a popular charting platform that offers advanced technical analysis tools and indicators. You can trade in futures, options, stocks, and more directly on charts with TradingView without leaving the Dhan platform.
- Small Cases: This is a tool that allows you to invest in small cases with Dhan. Small cases are curated portfolios of stocks or ETFs that reflect a theme, strategy, or objective. You can invest in small cases with just one click and track their performance easily on the Dhan platform.
Dhan is a stock broking platform that provides education and learning resources to its customers and partners. Dhan believes that education is the key to success in the stock market and aims to empower its users with knowledge and skills. Some of the education and learning resources offered by Dhan are:
- Knowledge Base: This is a comprehensive online repository of articles, videos, FAQs, and guides that cover various topics related to trading and investing with Dhan. You can learn about the features, products, segments, charges, platforms, tools, and more of Dhan. You can also search for any specific query or issue and find relevant solutions.
- Blog: This is a platform where Dhan shares insights, tips, tricks, news, updates, and more about trading and investing with Dhan. You can read about the latest trends, strategies, opportunities, and challenges in the stock market. You can also subscribe to the blog and get notified of new posts via email.
- YouTube Channel: This is a channel where Dhan uploads videos on various topics related to trading and investing with Dhan. You can watch videos on how to use the features, platforms, tools, and products of Dhan. You can also learn about the basics of trading and investing, technical analysis, fundamental analysis, risk management, portfolio management, and more.
- Webinars: These are live online sessions where Dhan hosts experts, mentors, trainers, and influencers from the stock market industry. You can join them to learn from the best in the business. You can also interact with them and ask your questions or doubts.
- Partner Program: This is a program where Dhan offers training and support to its authorized partners or sub-brokers. You can become a strategic partner with Dhan. You can also benefit from the commissions, dashboard, features, support, and more that Dhan provides to its partners.
These are some of the education and learning resources of Dhan that help you trade and invest in various securities with confidence and competence.
Dhan is a stock broking platform that offers trading and investing in various markets such as equity, derivatives, commodities, and currency. Dhan provides access to over 3,000 stocks and ETFs across NSE and BSE. Dhan also offers trading in options, futures, commodities, and currencies on NSE, BSE, and MCX.
Let us look into the different markets that Dhan offers its clientele:
- Equity Market: This is the market where shares or stocks of companies are issued and traded. The equity market can provide capital appreciation, dividends, voting rights, and ownership to investors. Dhan provides access to over 3,000 stocks and ETFs across NSE and BSE. You can invest in stocks and ETFs for free with Dhan as delivery trading is completely free. You can also start a SIP in stocks and ETFs with Dhan and build a long-term portfolio. Dhan charges Rs. 20 per trade or 0.03% per transaction for intraday trading in the equity market.
- Derivatives Market: This is the market where contracts that derive their value from an underlying asset are traded. The derivatives market can provide hedging, speculation, arbitrage, and leverage to investors. Dhan offers trading in options, futures, commodities, and currencies on NSE, BSE, and MCX. You can trade in these segments with a flat fee of Rs. 20 per trade with Dhan. You can also get up to 4x leverage for trading in these segments with Dhan. Dhan also has a separate app for options trading called Options Trader that lets you trade in deep ITM and OTM contracts with ease.
- Commodities Market: This is the market where raw materials or primary products such as metals, energy, agriculture, etc. are traded. The commodities market can provide diversification, inflation protection, and supply-demand dynamics to investors. Dhan offers trading in commodities such as gold, silver, crude oil, natural gas, etc on MCX. You can trade in these segments with a flat fee of Rs. 20 per trade with Dhan. You can also get up to 4x leverage for trading in these segments with Dhan.
- Currency Market: This is the market where currencies of different countries are exchanged. Currency market can provide liquidity, volatility, hedging, and speculation to investors. Dhan offers trading in currency pairs such as USD/INR, EUR/INR, GBP/INR, etc. on NSE and BSE. You can trade in these segments with a flat fee of Rs. 20 per trade with Dhan. You can also get up to 4x leverage for trading in these segments with Dhan.
Dhan extends a range of account choices to its clients, comprising two fundamental options: the trading account and the demat account.
- Trading Account: A trading account is an account that allows you to buy and sell securities in various markets such as equity, derivatives, commodities, and currency. You can trade and invest in various segments with Dhan with a flat fee of Rs. 20 per trade or 0.03% per transaction. Delivery trading is completely free, meaning you can invest in stocks with Dhan for free. You can also get up to 4x leverage for trading in these segments with Dhan. You can access seamless and hassle-free platforms such as Dhan App and Dhan Web that let you execute orders quickly and easily. You can also use innovative products such as small cases and options trading with Dhan.
- Demat Account: A demat account is an account that holds your securities in electronic form and facilitates their transfer and settlement. You can hold your securities in electronic form and avoid the hassles of physical certificates. You can transfer your securities easily and securely with Dhan. You can track your holdings and transactions easily with Dhan. You can also avail of services such as dividend tracking, mark long-term investments, alphaview, etc. with Dhan.
These are the two types of accounts that Dhan offers to its customers. You can open your trading and demat accounts with Dhan online in a few simple steps. You just need to fill out an online application form, upload your documents, complete your e-KYC, and sign the agreement digitally. You can start trading and investing with Dhan within 24 hours of opening your accounts.
Dhan is a stock broking platform that offers various options for funding your trading and demat accounts. You can fund your accounts with Dhan using the following methods:
- UPI: This is the fastest and easiest way to fund your accounts with Dhan. You can use any UPI app such as Google Pay, PhonePe, Paytm, etc. to transfer money to your accounts with Dhan. You just need to enter your UPI ID and the amount you want to transfer and confirm the payment on your UPI app. The money will be credited to your accounts instantly and you will receive a confirmation message from Dhan.
- NEFT/RTGS/IMPS: These are the other ways to fund your accounts with Dhan using online banking. You can use any bank account that is linked to your trading and demat accounts with Dhan to transfer money to your accounts. You just need to add Dhan as a beneficiary using the account details provided by Dhan and initiate the transfer using NEFT, RTGS, or IMPS. The money will be credited to your accounts within a few hours or minutes depending on the mode of transfer and you will receive a confirmation message from Dhan.
- Cheque/DD: This is the offline way to fund your accounts with Dhan using a cheque or a demand draft. You can use any bank account that is linked to your trading and demat accounts with Dhan to issue a cheque or a demand draft in favor of Dhan. You just need to write your name, client ID, and segment on the back of the cheque or demand draft and deposit it at any of the branches of Dhan or courier it to their registered address. The money will be credited to your accounts within 2-3 working days after the clearance of the cheque or demand draft and you will receive a confirmation message from Dhan.
In conclusion, our review of Dhan Brokerage reveals a mixed bag of strengths and weaknesses. While they offer competitive pricing and a user-friendly platform, their customer support and research resources could use improvement. It’s essential for potential investors to carefully weigh these factors against their individual needs and preferences before choosing Dhan Brokerage as their trading partner. Consequently, it’s essential to keep in mind that the financial market is teeming with brokers, some of which boast longer track records. These alternatives might be worth considering, depending on your specific needs and preferences. For a broader spectrum of options, we encourage you to delve into our comprehensive trading broker reviews, which can provide valuable insights into the diverse landscape of brokerage services available to investors.