If I would be investing in “XYZ Debt/Equity Mutual Fund Direct” for now (units held in SOA format for now) could it be transferred to Demat format? (converting my MF units held in SOA format to demat conversion and pledge for margins)
If I have MF units held in demat format bought through some other broker could that it be transferred to Dhan without issues?
Hey @ValueInvestor0 , your existing Mutual Fund investments cannot be converted or transferred to the Demat format but, you can start fresh investments in the Demat format. As for your second question, while it might not be available right after launch, eventually you will be able to transfer MF units held in Demat format from other brokers to Dhan.
Its been internally discussed with all stakeholders on enabling this. Have mentioned this is a time-consuming development, we have many things to solve for enabling this.
This year has just 4 months left. I can wait for 4 months more for a lifetime of peace.
Due to MF pledge not being available on Dhan, and reduced MTF exposures, I am not trading anywhere for nearly 2 months now.
Have tried many brokerages in these 2 months, such as Kotak, Angel, Zerodha, HDFC Sky, mStock but the experience has been nothing short of pathetic so far.
Dhan is such that makes making money a breeze. Other than, only 2 other brokerages make the cut - Fyers and ICICI.
I know this is business, but I never thanked team @Dhan for building such a wonderful product. Thank you.
Looking forward to resuming trading whenever MF pledge gets enabled this year. Till then I’m off to the jungles.
Trust me, you guys are champs. If you put your mind to do it, you will do it. My income is now in your hands. @PravinJ
Hello @PravinJ, let me say first itself don’t feel it like i’m trying to pressure you or @Dhan team by my words. I am not a trader like many others in this forum. I just do most of things i’m doing in past few months for fun and trying each and every feature available on Dhan.
My Dhan account was kinda dormant in nature for last F.Y. after joining (Hardly i did 2 trades) and was sitting in sidelines just seeing improvements on Dhan. But after seeing the amount of features that @Dhan team has introduced in just the year 2023 made me realize what i was missing from my toolbox of investing and trading and I started using Dhan as my priority platform for anything and everything now. I would appreciate @Dhan team from my heart because you folks are doing what some brokers have took a decade to do and still unable to cater to there customers or introduce small features even after so many requests from there customers.
My criticisms about Dhan platform is only to make sure that it stays in its path and turns into the best broker platform out there (Dhan was 21st in terms of active clients when i started and now at 12th and I hope to see it in 1st or 2nd sooner). It’s just that i want to say someday “look kid i was on this platform which kept improving taking customers feedback unlike some xyz platform which took there customer base for granted”.
I have put words to at least 4-5 very active traders about Dhan and have been successful in bringing at least 2 others onto Dhan (I’m not a finfluencer to get many persons. Just i could say it to my friends to use Dhan for there needs ). Some of the feature request, improvements i ask on Dhan platform is basically there words through my mouth. I just request things here so that when i suggest someone to use Dhan a small set of core features that exists on some other platform shouldn’t become a hindrance factor to them once they start using Dhan.
Be it MF in demat format and pledge MF for margin, comments about design improvements and few things that i have requested previously (some features are already done) have been implemented and few are about to be implemented and for some i hope it would be improved eventually. I definitely trust @Dhan team and you with features on roadmap of 2024 to be introduced. Even if it is delayed by few months i’m personally sure for now that you guys are going to introduce the feature you put on roadmap. Just keep improving. All the best
Dhan crossed 5Paisa. In top 10 soon. At No.1 one day in all likelihood. Dhan touch is different and refreshing from peers in the competitive broking landscape.
Fully agree with @t7support. I had opened the account in very begining April 2022 when order submit button was not working properly. From there to 2024 they have transformed everything in so fast pace. Order execution is insanley too fast. Once they reach 1 million, I thin the pace of new users onboarding will increase quite fast.
We take decisions based on many things, but most important of them have been suggestions and feedbacks. Many times we have also given up on our strong positions to be more aligned and see things the way most of our users see them. There are many improvements and surprises coming your way, we hope you will enjoy.
When we were immature, we wanted to be #1 in business by ranks. Now what matters most for us is having happy traders and investors. We remind ourselves we are far away from being where we have to be, and the journey to build an incredible experience continues everyday.
Just putting this tweet from livemint Deputy editor and see if this could be possible in future with Dhan (converting MFs held in SOA format to demat format and vice versa)
Hi @ValueInvestor0, thanks for sharing this. As of now, we do not plan to offer conversion between Demat and SOA, but we will certainly evaluate this in the future, post-launch. We appreciate your contribution — please continue sharing your thoughts with us!
I know this is like suggesting design for baby crib even before baby is born. But to be clear i’m just putting out possibilities which could be implemented over years post product launch from my end. I’m not expecting all of these features to get implemented on day one of launch itself but slowly and steadily get implemented over months or years also while weighing in other possibilities.
). Some of the feature request, improvements i ask on Dhan platform is basically there words through my mouth. I just request things here so that when i suggest someone to use Dhan a small set of core features that exists on some other platform shouldn’t become a hindrance factor to them once they start using Dhan.