Dhan has great features, but in some cases, it charges smartly to drain small amounts.
Here is one example: Pledge and Unpledge charges are broken to do so. I am requesting Dhan If it is possible to change this, then please do.
In this example, I compared it with Zerodha.
Based on the official pricing of both brokers, here is the breakdown of the pledge and unpledge charges for your specific scenario (pledging 200 shares once, and selling them in 4 parts of 50 shares each):
1. Zerodha
Zerodha charges for the initial pledging request but does not charge any fee for unpledging. When you sell pledged shares on Zerodha, the system automatically unpledges them to fulfill the delivery without any extra unpledge cost.
Dhan has a lower initial pledge charge, but their pricing model applies this fee to all margin-related requests per ISIN, which explicitly includes pledging, manual unpledging, and invocation/auto-unpledging. Because you are selling the shares in 4 separate parts, the system has to unpledge/invoke the sold quantity 4 separate times.
Hi @AD001, we have noted your observations regarding the pledge and unpledge charge structure and shared your feedback with the relevant team for review.
Hi @AD001 Thank you, your feedback has been noted. However this is not hidden, rather very transparently shared from day 1 for all our users. It is upto user to un-pledge one or many times.
Also the platform you compare Dhan with
INR 40 brokerage on many special cases of margin requirements
offers free AMC on year 1, and then there is an annual charges.
MTF interest starts from 14.5%
DP Charges are higher than Dhan
Off-Market Transfer, we do not charge
PG Charges are on Netbanking & Funds Transfer
Auto-square off charges are INR 50 vs INR 20 in Dhan
Our kind request - let’s not compare pricing based on one thing only, rather an full experience.
On Dhan our attempt is always to provide more value than what users pay for, which is where you get full access to Dhan ecosystem (Dhan, ScanX, Options Trader, DhanHQ, and more) with just one account.
Coming specifically to Pledge experience, here are some of the innovations that were introduced by Dhan to the industry:
Instant Pledge: Margin benefit provided within minutes, compared to what industry provided then which took 24/48 hours to reflect.
Un-pledge automatically: No need to un-pledge stock and then sell, Dhan does that to you automatically. Imaging prior to this - user had to unpledge, then stock will reflect in 24/48 hours in DP and then it is available for selling.
Along with these, Dhan was first in the industry to introduce innovations like Sell Fast with DDPI, Unlisted Shares, Safekeep of shares, and more.
Also I like to add DEXT T3, I can say Dhan is the one who provides Trading Terminal ( DEXT T3 ) for the users to access every possible way, DEXT T3 We can use it on Web, Mac, Windows more over it’s powerful than we think. Today I don’t see any other brokers giving this kind of experience (Trading Terminal on Web, Mac and Windows ) to users but Dhan does.
