Hello Everyone & Dhan Team,
I am writing this post to share an important and highly practical feedback regarding the Dhan Partner Program. Currently, once an account is opened on Dhan, the Partner/Referral Code gets locked forever. Even if the account is years old, there is no option or feature to change or update it.
I have done a deep, micro-level analysis of this situation—including the benefits, the potential risks for Dhan, and their solutions. I would love to hear thoughts from fellow partners and the Dhan team on this.
The Ground Reality (The Problem): Many retail traders initially open accounts through the links of big influencers or YouTubers. Later, they realize they receive zero support, learning, or guidance from them. When these clients want to transition to a local, genuine partner who is actually ready to sit with them, teach them, and help them build trading psychology, they cannot do so.
Suggested Solution: Dhan should introduce a feature for “Partner Remapping based on Mutual Consent” via strict email/OTP verification from both the client and the new partner.
To ensure this feature is not misused, here is a balanced breakdown of the pros, cons, and how we can control them:
1. The Positive Impact (Pros)
-
Higher Active Clients for Dhan: Retail traders quit trading when they have no guidance. A genuine partner keeps them educated and active in the markets. YouTubers often leave accounts ‘dead’ after opening. This feature will increase Dhan’s active trading volume.
-
Empowering Real Value Creators: It will naturally filter out fake influencers and reward hard-working partners who genuinely invest time in teaching clients.
-
Customer Freedom: As a consumer, a trader should have the right to choose who services them if they are unhappy with their initial choice.
2. Potential Risks (Cons) & How Dhan Can Mitigate Them
I know the Dhan team might have valid concerns before implementing this, so here are the micro-level risks and their practical solutions:
-
Risk 1: Client Poaching (Partners stealing each other’s clients)
-
Fear: Partners might fight and lure active clients away from each other by offering cashbacks or free tips.
-
Solution: Put a Lock-in Period. Remapping should ONLY be allowed for accounts that are at least 6 months or 1 year old. This prevents instant poaching.
-
-
Risk 2: Discontent among Big Influencers
-
Fear: Big YouTubers who bring massive initial volume might get upset if their clients shift away.
-
Solution: Introduce an “Inactivity Clause”. If a client proves that the old partner has provided zero engagement or support in the last 3-6 months, only then should the remapping request be unlocked.
-
-
Risk 3: Tech & Revenue Sharing Complexities
-
Fear: Changing codes alters the backend revenue calculation system.
-
Solution: The new revenue sharing should apply strictly on a “Go-Forward” basis. Past brokerage remains with the old partner; only future brokerage shifts to the new partner from the day of approval.
-
-
Risk 4: Security or Forced Transfers
-
Fear: Someone might misuse a client’s device to change the partner code.
-
Solution: Mandate a dual-verification process—Aadhar OTP verification from the Client and a signed declaration from the New Partner.
-
Conclusion: This feature, if implemented with these strict guidelines, will protect retail traders from fake promises and significantly strengthen Dhan’s partner network by fostering genuine mentorship.
What do other partners and the Dhan team think about this approach?