July to Dec 2024: Upcoming Features on Dhan for Traders & Investors

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July to Dec 2024: Upcoming Features on Dhan for Traders & Investors

Dear Traders & Investors,

As I write this, I am also astonished that we will be completing 3 years in a few months by November 2024. We have come this far, and it wouldn’t have been possible without the love, trust and support of our users. We still are way too small, still early in the industry and have a long journey ahead, looking back at the past 3 years - we all have enjoyed building Dhan for you. Dhan gets better every day, and it gets better with your suggestions, feedback and notes that come our way via multiple channels.

Our investments continue in Technology and Infrastructure, we continue to build and optimise DEXT (Dhan Exchange Trading System); and we also continue to enhance our Customer Service & Experience as we scale. Yes, we acknowledge that we also are far from perfect and have not met expectations of many who have asked us to ship their most requested features, products and capabilities. With all that we also continue our journey towards building an incredible experience for traders and investors in India.

We are happy and humbled that even by being an early and very small player, we have been able to set many new benchmarks in the industry by continuing shipping many innovative and industry-first features and products.

Here is a glimpse of what’s coming your way in rest of the 2024:-

1. ScanX : Find Investing & Trading Opportunities in Markets

Yes, we already announced ScanX just a few days back and we are overwhelmed by the response to it as well as flooded with many requests and suggestions to make them better. We already are at work and we expect to start shipping many of your asks and features within the next few weeks.

For now, ScanX is live for all on scanx.trade - we already have witnessed hundreds of custom scanners & screeners made and saved, and also thousands of orders executed already from the new platform. Try it, if you have not - many many exciting updates coming your way on ScanX.

2. The Journal by Dhan : A New BackOffice for all Reporting, Account Management, KYC & More

Yes, you see this right. We plan to introduce a completely new reporting system - The Journal which shall be the place to view all your Reports, Statements and Insights on your Trading & Investing activities. We don’t just stop here, but also bring comprehensive account management capabilities, your KYC and many more functionalities. This will make Dhan Web platforms lighter and faster as we move many things from here to The Journal.

3. Price Alerts on TradingView Charts

If you are lucky, we may have enabled this for you already and you haven’t realised this yet. We have started rolling out the newest updates to our Alerting systems, and the first feature that we are building on top of this is Price Alerts on TradingView Charts on Dhan’s TV console (tv.dhan.co) which is also deeply integrated and available across all our platforms. This is just the start of it, we have lined up extremely sophisticated capabilities on Alerts and we can’t wait to roll them out to you.

4. Mutual Funds in Demat Format

We have started with Mutual Funds in SOA format for wider acceptance and we are also glad to see the adoption so far. We have rolled out a few feature enhancements over the past few months and will continue to ensure you have a great investment experience on Dhan.

While we did that, we understand that many of our existing traders are disappointed that we do not offer Mutual Funds in Demat format for them to pledge the MF units for additional margins. We have heard from you - and we are evaluating introducing Mutual Funds in demat format, that said this is as good as rebuilding the entire stack of Mutual Funds and will take time for us to ship, but yes - this is on cards.

5. Enhanced User Experience on Dhan App

It’s been nearly 18 months now that Dhan has launched its Glass Version and it has been widely accepted and loved by many of our users. While the product and offering on Dhan has increased, we as a team feel there is a lot to do towards simplifying the experience on the Dhan App which is in the works as we write this post.

Unlike last time where we changed the user experience at one go, this time we will start shipping it from the month of September 2024 and continue to enhance the same over 3-6 months as we want our users to get comfortable with the changes and enhancements over time.

6. Super Trader Mode for Dhan Web platforms

Web experiences on Dhan have improved a lot since the start, however this year we have made things faster, better and lighter. The journey continues as our Web platforms will become more and more trader centric; we have already shippined enhancements across Web and also Charts continues as an area of focus. For the web particularly, we are experimenting with the introduction of a super trade mode (this is an internal name for this project) where we are building an integrated experience to make trading on web platforms - incredible!

Some of the recent updates to TradingView Charts like Scalper mode, Price Alerts on Charts, Enhanced watchlists, Instant Orders on Web, Dhan WiFi and more are part of the Super Trader project.

7. All New Forever Order Experience

We have always ensured we work towards providing most comprehensive order types on Dhan beyond the usual Market, Limit and Trigger orders - to start with, Dhan introduced Scalping on Charts, Iceberg Orders, Draft Orders, DDPI enabled with Forever Orders, and also Bracket, Cover and Trailing Stop Loss orders.

We have continued receiving feedback on Forever Orders by Dhan and are now working on an newer version of Forever Orders that is done grounds up and will be loved by both Investors & Traders. Coming soon your way!

8. Tracking All Mutual Funds on Dhan

We are early adopters and big believers of the Account Aggregator framework which now enables you to track all Stocks across multiple Stock Brokers on Dhan, and now also enables you to Track your Bank Balances on Dhan. We are evaluating to bring Mutual Funds as well via the Account Aggregator on Dhan which will enable you to track all your Mutual Fund investments on Dhan.

More to come…

As always, these are just a few large features and offerings that are being actively evaluated by all of us at Dhan and we expect to ship them to you in time by the end of 2024. Along with this there are many more small and medium features and capabilities that we are bringing on to you across all Dhan products & platforms - and many of them we expected to be industry first innovations.

Like we have said, our aim at Dhan is to provide you with an incredible Investing & Trading experience. All of us are working hard towards ensuring we bring to you Lightning-Fast Investing & Trading experience every day and at all times. Keep Investing & Trading on Dhan, and help us build an incredible platform for you.

Thank you,
pj

16 Likes
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Really Happy To Hear about alerts and forever Orders…mey Get Trailing Stop loss…
As a Swing Trade i really values those 2 things…

Kudos to team …Dhan :bouquet::bouquet::bouquet:

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Thanks for taking up the reporting changes. That is one area where Dhan is missing.

Yes alert on chart and scanx is amazing.

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Request

1)Scanx screener provide in dhan app
2)Need chart open fast in dhan app
3)Mobile Battery draining issue and Heating issue due to dhan app. Many times complaint but no solution.

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Hi please provide option to delete a particular Bank account from dhan app. Paytm Payments Bank was closed by RBI and due to five bank limit, I can’t add new account. If Paytm could be deleted, it will be helpful.
Inshort, just an option to update secondary bank accounts on Dhan.

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Coming this month brother

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@PravinJ @RahulDeshpande

Kindly provide CONTINUOUS CHARTS on below 1 Day time frame.

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@PravinJ Please let us know if the upcoming earnings are also included in it. Thats the missing piece left.

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Trailing stoploss in Equity Delivery forever order. Most awaited feature.

Thank you for considering my request sir :smile: @PravinJ

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I also wanted trailing stoploss for Equity Delivery forever order. Very happy to hear that Dhan team considering it.

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@PravinJ Would love if the focus can also be on the smaller, quality of life aspects such as bank account deletion, some changes to the colours and templates and MF pledging. For the sake of profitability of Dhan, please start charging AMCs btw. Also, will THE JOURNAL have the complete account control support such as bank account deletion/addition, etc.?

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Sir i want transfer the mutual fund from groww to dhan is it possible now???

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I suggest adding a copy-paste feature for stock symbols in the stock addition section. This would allow users to add multiple stocks at once, making the creation of watchlists much faster and easier, similar to TradingView. This feature will be especially useful for active traders and investors who need to monitor several stocks, saving them from entering each symbol individually. Implementing this will improve functionality, making your platform more efficient and user-friendly. Thank you for considering this feedback.

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Please Do Something Like Upstox Did With Their App Experience, I Mean Single Tap To Open Charts From Watchlist & Rest Things Should Lie Down Under Different Tabs, That Would Be Widely Accepted By The Traders As It Saves Alot Of Time (In My Personal Experience)…

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I beg to differ. I don’t use charts on mobile and I like the way Dhan handles the click. Just 2 clicks are you are on full screen charts.

Upstox order window is good but other than that it is a mess. @Duck This is my opinion. There’s no right or wrong answer here. Thanks.

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Great roadmap for a tonne of features to come up on Dhan. Personally i’m eager for 4th feature than other features :wink:

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Great :star_struck: :star_struck:
I’m excited for it.

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Screenshot 2024-08-24 071635
Screenshot 2024-08-24 071635800Ă—789 169 KB

While people asking for MF’s to be launched in Demat form, I feel it’s better that they stay in SOA format itself seeing the disadvantages of having them in Demat form and also the charges associated with it. And MF’s are meant for long term, if pledged they are going to have that risk of trading with margins in FnO and eventually losing the opportunity to create wealth in long term.

People who like to gain margins via pledging can always opt for buying liquid ETF’s and pledge them, hence keeping the long term investments and trading investments separate from each other.

Moreover, the other disadvantage I find is if you wish to take a loan against MF’s, all the entities out there providing loan only against MF’s in SOA format but not in Demat format.

No STP/SWP when in demat form is also a worry.

So, I request team Dhan to evaluate this proposal before going ahead. @PravinJ

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Long post warning and will be saying stuff from other end of needing MFs in Demat format: I was also of the view holding MFs in SOA format better than Demat format. But that’s good only for investors who doesn’t have to do anything with pledging for margins and the advantage stops at this point.

Points 2, 3, 5, 7, 8 in pic aren’t precise.

2 - Depends on the broker and even on platforms which afford MFs in SOA format, STP and SWP features are broken or half-baked (specifically on platforms like MFCentral i’m unable to pause or edit STP, on MFUtility i’m unable to even signup properly due to some cheque name mismatch).

3 - Partially wrong point. DPs allow both direct and regular funds. Some DPs won’t allow regular funds at all. This isn’t applicable to many/all.

5 - Wrong point and personally haven’t saw it. Why will AMC send back queries made by investor back to DP (any specific case scenarios other than transaction delays)?

7 - Haven’t saw any such cases where funds aren’t covered. But I have saw and have got answer (MFCentral in my case) the opposite where they need to platform refresh (yes entire platform has to be refreshed or go under maintenance) whenever a new AMC has launched (They might’ve done a workaround now but had to wait for few days to see new AMCs like Bajaj Finserv, Helios Capital, Zerodha take some time to appear on MFCentral even after 0.5-1 month of there fund launches).

8 - Other than for liquid funds with insta redemption there is no delay in processing time (it’s same for SOA or demat format in all other cases). Also money isn’t credited to demat account as said there but any mutual funds proceeds will be sent to your registered bank account.

And MF’s are meant for long term, if pledged they are going to have that risk of trading with margins in FnO and eventually losing the opportunity to create wealth in long term.

Don’t think pledging MFs for margin have to do anything with creating wealth in long term.

If you meant 90% traders losing money doing intraday or F&O trades just because there is ease of access to pledge certain securities (MFs in this case) then I don’t think holding MFs in SOA or demat format would have any effect in such cases. I have came across a guy (met his parents specifically) who had took loans at 12-13% p.a for trading in F&O by pledging liquid funds (the proceeds of which were planned to be used for his elder sisters marriage) right after seeing livemint article on how one could take loans on MFs.

People who like to gain margins via pledging can always opt for buying liquid ETF’s and pledge them, hence keeping the long term investments and trading investments separate from each other.

Not everyone trades naked such that they just use just cash equivalents (liquid ETFs) for intraday and every F&O trades. Some use really well set system for hedging there portfolio and use the F&O for what it was meant for (protecting portfolio from huge falls and ability to purchase underlying accordingly at a certain price) and also use other set of securities for pledging. [Just to give you an idea i have saw one of my friend whose lifetime investment worth of 6 crore is 60% in N50 index fund and 40% in GILT fund is using F&O just to protect his ~3.5 crore worth of N50 index fund from huge fall downs. He can’t be moving his entire networth to some Liquid ETFs and trade naked. Now other solution is buying N50 ETFs and GILT ETFs. But during volatile days N50 ETFs have huge buy/ask spread and can’t exactly hedge his portfolio without taking this problem with ETFs into account. In the same line most GILT ETFs are basically illiquid products in India. Even on an average day i have to struggle even to sell/buy few thousands of GILT ETFs just because i quote 1 paisa less than someone. So ETFs aren’t real solution in India at least for a while till volumes improve].

Keeping some of the above points in mind from a traders/investors perspective i would suggest the opposite that MFs should be in demat format as well along with stocks and bonds purchased from this platform, especially when the main platform is built to hold securities in demat format there was no necessity to build a MF platform to hold securities in other format (SOA format). This is the time when even products like insurance (term life insurance), property wills are being planned to be moved to demat format. Better to build products that the main platform users could take advantage of than making it a disadvantage by moving to some other format which the main platform users can’t take advantage of.

Another reasonable solution (could workout for both set of people) is keeping the MF platform as it is now while also offering MFs to be held in demat format. Option for users at the time of purchase could be given like SOA < > Demat toggle. I can’t say how difficult it could be for Dhan team to integrate it. But that’s what i could think of.

1 Like