Dhan review
Independent review of Dhan — brokerage, app, account opening, customer support and the kind of investor it actually fits. Dhan is a discount broker built for active traders.
Verdict
Active traders and cost-conscious investors who want zero-brokerage delivery, low flat F&O pricing, and advanced options/API/TradingView tooling.
Brokerage at a glance
Headline brokerage on the default Dhan standard plan. On top of brokerage you also pay STT, exchange transaction charges, SEBI fee, stamp duty, GST and DP charges — see full charges for the breakdown.
About Dhan
Dhan is a discount broker built for active traders. Equity delivery is free; intraday is ₹20 or 0.03% (whichever lower); equity & commodity F&O is flat ₹20 per executed order. Single unified pricing — no plan selection.
The Dhan trading app
- Trade equity, F&O, commodity, currency, ETFs and mutual funds in one account
- IPO application and investing
- Charting with technical indicators, stock screeners and watchlists
- Advanced order types including Iceberg, Super Order and basket orders
- Free Demat-cum-trading account with zero brokerage on equity delivery and direct mutual funds
- Stock pledging and margin trading
Opening a Dhan account
Account opening is fully online for Indian residents. Keep your PAN, Aadhaar (with mobile linked for OTP), a bank cancelled cheque or statement, a passport-size photo and a signature on white paper handy. Aadhaar e-KYC, in-person video verification and e-sign typically take 1–3 working days end-to-end. Start at dhan.co.
Customer support
Dhan support is available phone: 9:00 am to 6:00 pm on market trading days; chat: 9 am to 10 pm, monday to sunday; email support 24x7. For complete contact details, the four-level SEBI escalation path (broker desk → compliance officer → SCORES → SMART ODR), and what to have ready before escalating, see the Dhan customer care page.
Pros and cons
How we judge this: these pros and cons are drawn from Dhan’s published charges and platform features, its app-store ratings — cross-checked against its SEBI registration and NSE / BSE membership. They are our editorial assessment, not a sponsored placement, and not financial advice.
What users say about Dhan
Paraphrased themes from public app-store reviews and forums — these are users’ opinions, not our testing, and not financial advice. Sampled 2026-06-14.
- Zero brokerage on equity delivery and direct mutual funds
- Dedicated Options Trader platform with Strategy Builder, Flash Trade and margin tools for F&O
- Free TradingView integration for charting and order placement
- Free DhanHQ API for algo and programmatic trading
- Instant fund withdrawals and multi-bank fund transfers
- Lifetime zero AMC demat for individuals and HUFs
- Some users report the app feeling slow or laggy at times
- Some users report account-opening delays
- Some users find the feature-rich interface cluttered when starting out
- Some users report customer-support response times could be faster
Alternatives to Dhan
By active client count, Dhan is the #9 largest of 38 retail brokers on the NSE (as of 2026-04-30). If you're weighing it against the field, these are the brokers people most often compare it with:
Side-by-side head-to-head comparisons:
See the full ranked list of every retail broker in India on the stock brokers in India page, or compare exact landed cost on a typical trade with the brokerage calculator — switch brokers in the dropdown without leaving the page.
Frequently asked
What people ask about Dhan.
Dhan is SEBI-registered and holds NSE / BSE membership, so it meets the regulatory bar every Indian broker must clear. Whether it is a good fit depends on what you trade. Active traders and cost-conscious investors who want zero-brokerage delivery, low flat F&O pricing, and advanced options/API/TradingView tooling.
Equity delivery is Free. Equity intraday is ₹20 / 0.03%. Equity options is Flat ₹20. On top of brokerage you pay STT, exchange transaction charges, SEBI fee, stamp duty, GST and DP charges. The brokerage calculator on this site shows the all-in landed cost for a sample trade.
Dhan is registered with SEBI and a trading member of NSE / BSE. Demat accounts are held with CDSL or NSDL — the broker does not hold your shares, the depository does. Funds are held in a SEBI-regulated client bank account separate from the broker's own funds. The risk to investors from broker failure is limited; the larger risk to manage is account fraud via phishing and OTP sharing.
Trade equity, F&O, commodity, currency, ETFs and mutual funds in one account. IPO application and investing. For a full feature list and download links see the Dhan app page.
Account opening is fully online for Indian residents. You need PAN, Aadhaar (with mobile linked for OTP), a bank cancelled cheque or statement, a passport-size photo and a signature on white paper. Aadhaar e-KYC, in-person video verification and e-sign typically take 1–3 working days. Apply via https://dhan.co.
Discount brokers comparable to Dhan include Zerodha, Groww, Upstox, Dhan and Angel One. Full-service alternatives include ICICI Direct, HDFC Securities, Kotak Securities and Sharekhan. Compare brokerage rates side-by-side on the brokerage calculator before switching.