Important: Discontinuation of Payouts for Referral Program on Dhan

Product Announcements 🔈
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Dear Traders and Investors,

Dhan has grown because of love and trust from our users, most of whom have been early adopters of Dhan.

We ran our referral program right from our first day and we are extremely grateful to our super traders and investors who have shared Dhan with their friends and family members. Our users were also rewarded by Dhan for their referrals - where 20% of the brokerage generated by your referred user to you is credited as earnings, withdrawable directly to your bank account.

We know many of our users loved the referral program by Dhan, however we are disheartened to announce that we will be discontinuing the payouts in our referral program owing to changes in the regulatory framework that governs it. Recently, NSE released a circular requiring every referrer to be registered with the Trading Member (broker) as an Authorised Person, after approval by stock exchanges, in order to earn referral payouts.

As a result, the current brokerage sharing program will be stopped with effect from 7th September, 2024. All earnings generated and credited as a result of trades placed until 7th Sept will be automatically credited to the primary bank account of each referrer by 15th September, 2024. Post this, no referral earnings will be generated for any trades placed by referees.

Please note, referral earnings will continue to be rewarded to all users who are registered as an Authorised Person (AP) with Dhan. To know more about the AP program please visit Dhan Authorised Partner - Become a Strategic Partner with Dhan or write to us at partner@dhan.co.

New Referral Program is coming soon!

Do I stop referring users to Dhan? No, do not stop. We will be back with a new and revised referral program on Dhan that will reward you for your referrals and that also meets the revised guidelines and norms defined by the exchanges.

We will maintain all the attributions to people you refer, so as to ensure you get the benefits when we have the new Referral Program. So, keep going and refer your friends, family members and market enthusiasts to Dhan.

Dhan keeps building for its users and we will continue to do so in our journey to build an incredible Investing & Trading experience for you!

Warm Regards,
Trisha

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Give tips on how to do trading/ buying
Because I am a new in this field

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Simple. You come up with a eGift voucher like Amazon Pay or come up with a rewards catalogue like the banks.

Regulators ain’t regulating these days. They are now babysitting.

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Hi @Shitanshu_Upadhyay Well, as a platform we do not offer any tips on trading or investing - and one should stay away from these.

If you would like to learn about markets, suggest taking a look at upsurge.club

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how when referral needs AP registration ?

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Maybe for others, but genuine generous traders like yourself who always advocate for higher brokerage (multiple times), this is good news, indirectly benefits all brokers (who have already achieved ‘critical mass’), and with a level playing field (as noone can offer referral commissions to non-APs now).
Bless your selfless heart :stuck_out_tongue_winking_eye:

I suppose they are thinking along the lines of “gift vouchers” - or “referral points” that can be reimbursed against referrer’s own trading, but doesn’t look like the regulator is playing around this time.

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If we read the circular it says

“any person referring a client to the Trading Member shall be appointed as an Authorised Person (AP) of the Trading Member after obtaining specific prior approval from the stock exchange for each such person”

So non-AP cannot refer in any way for whatever the rewards are. Not sure how brokers can give reward points against a successful referral like a top broker has already announced.

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Haha. Hope you are doing well. @VijayNair :laughing: I am not selfless. If Dhan raises brokerage that would be for my selfish interests. That would help them maintain the current level of offerings and incentivize them for further premium offerings and wealth management solutions. If giving ₹100 in a day extra means getting all these premium offerings, then I think I am good with it. That is just what I think though. Other people can differ.

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Oh no. You hurt my feelings. And I thought you were a noble soul who wanted double brokerage out of selflessness :laughing:

Ofc you will be good with that man :laughing: Now they will be able to offer that with your commissions instead of my ‘extra’ brokerage, and I am good with that :slightly_smiling_face:

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@VijayNair These 2-3 months I have not been actively trading so wanted to do some random stuff. Opened accounts with the TOP 30 brokerage firms to see their level of offerings and none comes close to the trading experience of Dhan and wealth management offerings of ICICIdirect. I have been with these 2 brokerages since 3 years and 8 years respectively and they are best in the business.

You ask for any brokerage’s pros and cons and I will tell you.

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Very true very true. :slightly_smiling_face:

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Wish instead of giving a referral bonus, plz revise the brokerage charges to the extent of brokerage credit paid out. so that you (Dhan) can earn more inflow of accounts (new retails) and stay ahead of competition.

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@PravinJ @Trisha Upstox is now giving 40% of their regular brokerage to their partners. They asked me to apply it soon after the circular came out. However, I haven’t referred anyone, expect my partner as I know Dhan is no match when it comes to smooth trading experience.

(I don’t want to compare Dhan to Upstox but, reality is that Upstox chart lags or hangs a lot while trading. This is one of the reasons why I asked all my friends and followers to join Dhan).

Let’s hope something even better comes up even in Dhan.

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@thetribaltrader Slippage on Upstox is high. Very high. I must have lost more than 5k in lost slippages due to slow order execution there. Upstox is very slow on the OMS front.

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Hey, Dhan has an AP program as well. You can get in touch with us at Dhan Authorised Partner - Become a Strategic Partner with Dhan or write to us partner@dhan.co.

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@Trisha
But to become an AP of Dhan, we need to have referred at least 100 people, right?

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No. Not needed. Pay exchange reg fees of approx 30k for all segments and exchanges (annually). Give all relevant docs and apply for registration. If the exchange approves then u can become an AP. Then adher to all compliance requirements after registration (which will also incur cost).

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Oh, okay. Thanks :slightly_smiling_face:
I’ll check it out.

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PhonePe, Aditya Birla, Paytm couldn’t make a dent in the industry. Remeber this, jack of all trades is the master of none.

If you want to earn from your investor base, I
suggest you to go for ICICIdirect AP. You will earn from both investors and traders plus it has a sticky clientele and a huge brand rep.