I am using two trading accounts, one with Groww and one with Dhan. Mostly, I am more active in the Dhan account because Dhan giving good features for traders.
But now, I got one issue. Dhan charged more interest on my trades, and because of this, I am thinking if I should continue using Dhan mainly.
I have pledged securities and also have cash balance. Recently, I took one intraday position for the full amount of my margin. Before the day ended, I reduced my position and made sure my cash and collateral was 50-50 as needed. Still, Dhan charged interest on that position. Is this normal?
Welcome back to the Made For Trade Community. It will be great if you can share your exact query along with your UCC on help@dhan.co or chat with us to get further clarity on the specific query that you have. Dhan will never charge you additional interest unless there is reason enough to do so.
I will send email with details, but for making it clear for other people in this forum, I will ask simple question.
Suppose my cash balance is Rs.50,000 and my collateral is Rs.2,00,000. In intraday, I take position for full margin of Rs.2,50,000.
By end of the day, I reduce my position, and now my end of day margin is Rs.1,00,000. I am fulfilling this with Rs.50,000 cash and Rs.50,000 collateral.
If this situation happens, do you charge interest on the Rs.2,50,000 margin or the Rs.1,00,000 margin?
This was F&O position. When did this rule change? No big broker is charging interest on peak margin, only you are doing this. Where is it written in the NSE circular that you can charge on peak margin?
Hi @Sita1965 Sitaram, it has been peak margin for a while now. Broking platforms report peak margins of clients to exchange, any defaults here leads to penalties… and these are standard reporting across all Stock Brokers, none of them are specific to Dhan. Circulars are on NSE or simply searching for NSE Peak Margin reporting will help you get to them.
Angel charges on peak over 10L utilisation only for intraday
When big brokers are only not charging, why Dhan who is favouring traders is charging?
Please switch to charging only EOD and confirm. I need the interest to be reversed and confirmation that interest will be charged on EOD, or else I have to move to trading with Groww