This Dhan Review will be covering all the important aspects such as dhan brokerages, account opening charges, trading platforms available, margin and many other features you required to know before opening a trading and demat account with Dhan.
This dhan review has been done only after using the service and experiencing the trading platform so it is not just a theoretical review.
But before we do so let us first know in brief about Dhan Stockbroker.
Dhan Stock broker made their entry in one of the highly competitive broking industry last year in September 2021. Pravin Jadhav who was also the former Paytm Money CEO is the CEO of Dhan. Dhan is backed by leading investor such as MIRAE ASSET, BEENEXT, BLUME, 3ONE4 CAPITAL, Social Leverage etc.
Dhan is SEBI Registered (INZ000006031) online stock broker offering trading on all exchanges (BSE, NSE, MCX) and across all segments (equity, exchange-traded funds, futures, options, currency, commodities). Dhan have partnered with CDSL for depository services.
The company is registered by the name Moneylicious Securities Private Limited and have corporate office in, Borivali East, Mumbai, Maharashtra.
I have covered the most important points of dhan review in 13 brief points incase you do not want to read the long detailed guide.
This overall review of Dhan with brief points will tell you all it has to offer to investors and traders in brief.
So without further delay, let us start first with Dhan overall review in 15 brief points and later below you can check them in detailed guide if you want.
Just to let you know the post may be little long as it covers all aspects of the Dhan stock broker in detail, you can move through table of contents for the info you are looking.
- Dhan have 3 trading platform for all devices known as Dhan App for Mobile, Dhan for desktop web version and dedicated option trading platform (Web + App) by dhan. You can do fundamental as well as technical analysis quite easily on all its platform.
- You can Invest and trade in all segments at Dhan broker i.e. Equity (Stocks), FNO, Commodity, Currency on NSE, BSE & MCX.
- Dhan offers lowest brokerage charges across industry they are charging Rs 20 or 0.03% (Whichever is lower) per order.
- There are no brokerage charges for delivery based trades at Dhan. Moreover, 50% brokerage off for women’s.
- If we talk about Margin at Dhan, after SEBI Rules on Intraday margin every stockbroker is giving same margin of 5X throughout India, hence this does not matter anymore.
- With Dhan you can also invest and trade in IPO’s, NFO’s, Bonds, ETF, SGB, and many other financial products with so much ease.
- Recently Dhan have also made tie up with smallcase for making portfolio based investment moreover they do have a stock recommendation tool as well which gives long term investment ideas known as Stratzy.
- You can also do SIP in stocks and ETF using Dhan Broker.
- Dhan mobile App have been downloaded on playstore for more than 1 million with a user rating of 4.3 which also shows the trust they have created among users within small time period.
- For a limited time period you can open a Free Dhan trading/demat account with Zero Annual Maintenance Charges online here.
- Dhan also offers another feature known as WelathBasket, it is a basket of stocks/ETFs, based on a strategy, theme or idea. WealthBaskets are professionally managed and help you invest in Stock Markets in a systematic way.
- Dhan has also partnered with Tactic who provides Trade Ideas & Strategies of top SEBI registered traders in currently 3 modes – Intraday, Positional & BTST. This feature will greatly help the new as well as experience traders and is not available with any discount broker as of now.
- 1Cliq by oipulse is integrated with Dhan which helps fast traders to identify trends especially scalpers. You can have trade execution with pre defined SL, auto Trailing SL, MTM target and stop loss are some of it’s amazing features
- Dhan also gives Margin Trading Facility (MTF) for up to 4X leverage (75% funds) from Dhan for Equity Delivery trading. You can buy 950+ stocks and hold them for unlimited period of time.
- Overall, Dhan is best for intraday traders as well as investors as the brokerage is very less, moreover the trading platform is best and available with all tools and resources in all 3 versions.
Dhan Review On Trading Platform:
Dhan have 3 trading platform for all devices known as Dhan App for Mobile, Dhan for desktop web version and dedicated option trading platform (Web + App) by dhan.
It is not possible to review all of them under one post however, will review the dhan web version trading platform and as the functionalities and features remains same across different version hence it does not matter.
Dhan web or say browser based trading platform, which can be opened on any web browser you use. Just like a website but with all the tools and resources needed.
Honestly, this is one of the best web based trading platform I have personally seen and it beats even Zerodha trading platform due to the various features available under the same page such as technical, option chain, customised option strategy builder, fundamentals of company, financials etc.
On left hand you will see the market watch, from here you can add or delete the scrips. When you move and hover over any stock it will give you different options.
With Dhan platform you get the maximum no. of indicators you want in life. They are just one click away.
You can display and use any type of chart with different candlestick patterns
Whether you want to use:
Support and Resistance indicator and many others
Dhan gives Trading View charts along with ChartIQ on both web and mobile application. Different Candlestick patterns etc. you name the indicator and it will be there.
As, you can see in the above image of order window, you can place different types of orders in intraday trading, if you select the option delivery, it will give you the option to place different order for delivery.
You can add- withdraw funds directly and instantly, create or back-test trading strategies use DHAN API to trade and lot more.
The user interface is so clean and up to the mark, you can easily know which icon will do what, as the moment you will hover to any it will tell you the functionality of it.
So all in all Dhan trading platform has everything what is needed for a hassle-free trading platform.
Dhan Mobile App Review:
Dhan also offers its users the mobile app to trade and invest seamlessly online. The mobile version has inbuilt all the major tools, indicator and resources what we have seen in web based platform.
Top Features of Dhan Mobile App:
- Trade directly from TradingView charts (tv.dhan.co)
- Get Instant Margin Benefits by pledging shares
- Manage Risk in detail and add stop-loss to open positions
- Identify key price levels and set up support and resistance with Daily & Weekly CPR indicators
- Reverse Position in 1-tap and save brokerage
- Calculate the brokerage before placing the order with Transaction Estimator
- Access Advanced Option Chain with weekly and monthly expiries for all stocks and indices
- Get Qualitative & Quantitative insights on listed share market companies
- Track the performance of invested stocks and View Returns by XIRR & CAGR
- Get instant share market live alerts when a stock crosses the price or volume they specify with Price Alerts
- Invest systematically and regularly via SIP in stocks
- Benchmark and track their returns with 12 major Indices in stock market India with Alphaview
- Place buy/sell orders for the next trading day after the share market has closed with After Market Orders
- Create multiple orders for the same or different stocks & club them together in a single go with Basket Orders
- Place a Forever or Good till Triggered orders on the platform
Dhan mobile App have been downloaded on playstore for more than 1 million with a user rating of 4.3 which also shows the trust they have created among users within small time period.
Dhan Review On Brokerages:
Brokerage charge at Dhan is very low, there is no charge for taking delivery of the trades to your demat account. Whereas for intraday trades across equity, currency, commodity, it is flat Rs.20 or 0.03%(whichever is lower) and for options segment it is Rs. 20 per order.
What they mean is, suppose you bought stock xyz priced at Rs.100, quantity 100 on intraday basis,
so the total turnover would be bought 100, sold 100 (100*200)= 20,000 on this amount they will charge either whichever amount is lower as 0.03% of 20000, is Rs.6 so they will charge that instead of flat Rs.20.
Dhan Account Opening Charges:
There are no account opening charges as of now with dhan for a limited time period. You can open dhan trading and demat account with zero AMC (Annual Mainenetance Charges).
- ₹0 Demat Account Fees
- ₹0 AMC
- ₹0 Platform Fees
- ₹0 Brokerage for Delivery Trades
- ₹20 per order for Intraday Trades
- ₹10 per order for Intraday and F&O Trades for all women investors on Dhan
Dhan Account Opening Process:
The account opening process is quite simple and can be done in 3 easy steps. To open an account online, you can sign up using your mobile number through this link. You will receive an OTP to your number and you can get started with the process.
You will be required to enter your PAN, bank account details and personal details to continue with the sign-up.
Once you sign up you need to upload certain documents as listed below.
Documents Required To Open An Online Account with Dhan:
In order to open your demat account, you will require the following documents.
- Identity proof: PAN Card
- Address Proof: Driving license/ Voter’s ID/ Aadhaar Card/ Passport/ Rent Agreement (Registered)/ Latest utility bill (which has the name of the account holder)
- Income Proof (not required for Equity and MF): Bank Statement (last 6 months)/ Salary slip (last 3 months)/Latest ITR copy or Form 16
- Signature copy: Your signature on a blank sheet of paper
Please note: In case if the PAN isn’t KYC compliant, you will need to open your account via In Person Verification (IPV). For this, you will need to upload two videos of 10 seconds each; one with your PAN Card in hand and other with the Address Proof document in hand.
What are Payment Gateway Charges at Dhan?
There are no charges for payment gateway if making the payment through UPI and Net Banking at Dhan.
What are Call-N-Trade Charges at Dhan?
Dhan do not have any charges for you when you call Dhan Customer Care, however for call and trade at dhan you will be charged Rs 50 + GST per order placed through Dhan trade desk.
Dhan Contact/Toll-free Number?
You can call dhan on 02248906273 anytime between 9:00 AM to 6:00 PM from Monday to Saturday.
What are Auto squared off charges by Dhan?
The charges are INR 20/order + GST for auto square off at dhan.
What time does Dhan automatically square-off the intraday positions?
Auto-square off means when the system (Dhan in this case) or the Risk team at Dhan squares off of your open intraday position. The square off time for intraday positions on Dhan is 3:20 PM.
My Opinion On Dhan Broker:
According to the latest NSE reports there are about 300+ stock brokers in India, however what makes Dhan a leading and strong contender in the stock broking industry is the tools and resources they have in their trading platform.
Moreover there are no hidden charges and the brokerages are very minimal if we do the industry comparison. They are also backed by cash enriched investors so nothing to fear.
If I have to rate Dhan broker after looking at there breakthrough pricing model for brokerages as well as other charges and experiencing there simple yet great user interface for trading platform I would give it 9.5 out of 10.
I am still being harsh as it is a new company, but you may see the ratings may go higher with time in my opinion.
So if you are thinking of opening a trading/demat/mutual fund combined account, than do not put any second thought, go ahead and Open Free dhan trading and demat account with Zero AMC (Annual Mainenetance Charges) there is nothing to lose its a win-win deal.
If you are a beginner in trading and investing, please read this amazing guide on how share market works in India?
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Note: Please do your own research and make investment. Moneycontain will not be responsible for any of your losses at all. The point made is for educational purpose only and intended to give information. All investments are subject to risks, which should be considered prior to making any investments.