Discontinuation of 50% Off on Brokerage for Female Traders on Dhan

Product Announcements 🔈
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Dear All,

We at Dhan have some updates for you. In light of the recent circular put forth by SEBI titled “True to Label”, we’ve had to make the tough decision of rolling back our brokerage discount for female traders on Dhan.

We also understand that there is a lot of anxiety amongst Investors / Traders and everyone in general about the possibility of an increase in brokerage for F&O trading and also introduction of brokerage for Equity investing. We have an active discussion going on the MadeForTrade community here: Discussion: Broking Industry set to change, expect change in Brokerage Plans

Instead of increasing brokerage for all F&O traders as an immediate reaction, we are otherwise starting with curbing some incentives that were offered to select users. You may already know that Dhan gives 50% off to all female traders who trade Intraday and F&O, as an initiative to ensure fair and equal participation and encourage more women to benefit from India’s growth story via the markets.

After a successful run of more than 24 months, we believe it is the right time for us to discontinue this initiative, this is part because of the circular and also part because of misuse we’ve identified across multiple accounts. We will be discontinuing this effective from 8th July 2024. We posted our thoughts about revisiting the policy last year in June 2023.

Yes, there are individuals trading on Dhan in their female relative’s name, benefiting from the 50% off on brokerage via unfair means and thereby denigrating the well-intentioned nature of the initiative. All that said and done, we are proud to witness the true impact of reducing the brokerage in half. There are working professionals, homemakers, and even mothers, trading on Dhan. We met many such women who benefitted from this program in Dhan Meet and Greet events across India.

While our decision to discontinue the brokerage discount may be disheartening for female traders, we assure you that we will be working on more initiatives to help increase participation and provide an equal footing for female traders to excel on Dhan.

Do write to us at help@dhan.co in case you have any queries.

Best Regards,
Shraddha

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Got one more reason after pledge of mutual fund to quite the Dhan

Best of luck for future

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@peeruverma09 if I Considered your first point i.e MF Pledge that make sense to quite. but I don’t understood why you are crying for give Rs. 10 extra for trade… if you do trading as Business, its operational cost. assume that if you do some other business what will be your operational cost, Office rent, Marketing, Staff, Promotional Activity… and many more… instead in trading you are not willing to pay just 10 extra per trade.

quite Dhan just for not give rs 10 extra that doesn’t make sense. BTW it’s your personal decision. Let me tell you one thing… India having cheapest stock Brokerage rate across globe.

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First and most important reason is mutual fund pledging second thing when operational cost increase profit decrease and if you consider trading as business you have to keep and eye on cost too when shoonya offer us 0 brokerage why we should pay 20rs per order if we have to pay 20 rs per order to zerodha kya bura hai mere bhai.

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@peeruverma09

your Personal choice.

Not Providing Trading view Charting. and Specially All time Frame CPR with Pivot on chart.

didi aap Zero Brokerage-Zero Brokerage khelte ho kya…

Let’s respect Decision of Mgmt. there is something missing in all brokers, do choose wisely as what’s your requirement and how flawlessly execute your trade. and ultimately, What’s profit you taking home that’s matter most.

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I moved from Zerodha to Dhan due to brokerage I can move from Dhan to shoonya because of brokerage simple and clear!!!

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People who trade at ShooNYeah usually ends with ShooNYeah on a black day.

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Why not make it Rs 10 or Rs 15 for all traders… That will put us, women and men, on equal footing… :joy::joy: To me, everyone is special when it comes to business.

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Yes I agree with your statement :+1:!I’m also switching to Shoonya or mstock! This also good broker!

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I say Dhan should raise brokerage to ₹30 per executed order because of the amazing value that I get.

Honestly speaking, I have tried every other brokerage and only a few stand out: Dhan, ICICIdirect, Kotak Securities, AngelOne.

Dhan is like Rolex. Not everyone understands the value.

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Shoonya have upgraded their infra and have been very stable for the past 8 months. They are also consistently the fastest in terms of API response.

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Hi @VijayNair If you are not paying for the product, then you are the product.

Like Dhan, Kotak, ICICI explicitly states that they don’t track individual strategies and trading patterns. I wouldn’t want to risk my strategies and trading patterns to be identified by some unknown broker just to save a couple of hundred bucks.

I wouldn’t want to let go of crores in order to save some thousands. Privacy, tech, service, product and reliability is important to me.

Anybody who wants to try out zero fee brokers are welcome and I am right here in this thread. Do come and post the same opinion 2-3 years later. We’ll talk again. Good luck.

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Brokerage isnt my gripe with Dhan. What I dislike:

  1. Lack of quote ltp with API
  2. No MF pledge
  3. Delay in Margin updation sometimes, this hurts if you are a high volume trader regularly switching strikes using their API
  4. General instablity of their API compared to peers

Mr Banerjee has advocated for increased brokerage in the past too. Almost like he is an AP of Dhan.
I think Dhan should allow noblemen like @thisisbanerjee to voluntarily pay extra brokerage :slight_smile:

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I don’t know about Dhan’s API though, because I am a discretionary swing trader. However, order placement or price refresh is THE BEST IN THE INDUSTRY right now. @VijayNair

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Hi @VijayNair

We are still very early in our days and I understand some of features that users that are available on other platforms are not available on Dhan. That aside, we have stated many times on the forum and otherwise too that we build features and product offerings that are based on usage of existing features and interactions that our users do via our products.

On your specific asks:

  1. Quotes on APIs are available for a while now on DhanHQ
  2. MF Pledge - we have mentioned that we will evaluate this.
  3. Margins are must for every trade, if there is specific feedback about something - please write to us on api@dhan.co
  4. Also same, any specific feedback - we are on api@dhan.co

That said, orders placed via APIs now stand > 3%; we have 1500+ daily APIs users and nearly 10,000+ users who trade daily on Dhan via API integrations.

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Thank you for the reply @PravinJ

  1. True Quote LTP isn’t available. What you have is intraday_minute_data (and your market feed via websockets).
  2. Okay.
  3. Margins are a MUST, but inefficient and delayed margin updation is a ‘MUST NOT’. I have relayed my issues via @t7support to your team.
  4. Thank you. It is indeed important to take feedback, and even more important to act on it.
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Hi @VijayNair

We have written in details about Order Execution of DEXT (our underlying trading engine) here - Dhan: Understanding Order Execution Performance, Speeds and Response Times on DEXT

Without commenting on any specific platforms, it is important to understand how these systems work behind the scene.

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Article is nice and informative. But I am not talking about ms delay. While shifting strikes (using API), sometimes the margin doesnt update fast enough (meaning takes longer than 1-2 seconds), or so it seems - causing margin shortfall related order failure. Already relayed to the team. Your team has my feedback, and upto them to troubleshoot and investigate.

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