A genuinely unique pricing feature: Dhan offers a 50% brokerage discount for women customers — ₹10/order instead of ₹20 for intraday and F&O trades. This is the only major discount broker in India with a gender-based pricing discount, aimed at encouraging female financial participation.
Why Dhan?
Positives
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✔ What Dhan Does Well
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Needs Improvement
✘ Where Dhan Falls Short
| ✗ | No NRI accounts |
| ✗ | Commodity (MCX) trading not clearly supported despite MCX membership |
| ✗ | ₹20 brokerage same as Zerodha, Angel One — no pricing differentiation |
| ✗ | Customer support reported as variable during peak hours |
| ✗ | Pledge charge: ₹15+GST per instruction (Firstock and mStock offer ₹0) |
| ✗ | No physical branches — 100% online only |
| ✗ | Relatively new (2021) vs Zerodha/HDFC SKY institutional depth |
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DHAN
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Dhan Review 2026 — ₹0 Delivery, ₹20 F&O, 50% Women Discount, TradingView-First & Honest AssessmentBy CompareShareBrokers Editorial Team | Last updated: March 2026 | Affiliate disclosure
✔ Verified March 2026 ✔ First Indian Broker on TradingView.com
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Open Free Account →
Free • ₹0 AMC • ₹0 delivery
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₹0
Delivery brokerage
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₹20
Intraday & F&O per order
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50%
Discount for women (₹10/order)
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₹0
AMC & account opening
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~1M
Active clients (Jun 2025)
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4.2/5
CSB Rating
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| Year of Incorporation | - |
| Products | - |
| Demat Services | - |
| Active Exchange Memberships | - |
| Website | - |
| Contact Details | - |
| Total Number of Clients | 979,483 |
| Total Number of Branches | - |
Dhan is the trading platform of Raise Securities Private Limited (formerly Moneylicious Securities Private Limited), launched in September 2021 by Pravin Jadhav — who was previously the Managing Director and CEO of Paytm Money. Co-founders Alok Pandey and Jay Gupta bring complementary product and technology expertise. Backed by Mirae Asset, BEENEXT, Blume Ventures, 3one4 Capital, and Social Leverage, Dhan has grown to nearly 1 million active clients in under four years — one of the fastest growth trajectories in Indian discount broking.
Dhan's pricing is standard: ₹0 delivery, ₹20/order intraday and F&O, ₹0 AMC. What is not standard is its technology differentiation. Dhan became the first Indian broker to be listed on TradingView.com's official trading panel, and the only broker worldwide to offer options trading directly from TradingView.com. This means Dhan users can trade Indian options from TradingView's global chart platform, not just view charts. Beyond TradingView, Dhan has built a distinct product ecosystem: a dedicated Options Trader app, the Super Order feature (entry + target + stop-loss placed simultaneously), Iceberg Plus (large order slicing), Dhan WiFi (web and app sync), and the 915 Terminal (power trader desktop terminal).
A genuinely unique pricing feature: Dhan offers a 50% brokerage discount for women customers — ₹10/order instead of ₹20 for intraday and F&O trades. This is the only major discount broker in India with a gender-based pricing discount, aimed at encouraging female financial participation.
| Brokerage charges |
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3.6 |
| F&O platform & tools |
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4.7 |
| Mobile app |
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4.5 |
| Account opening |
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4.4 |
| Innovation & features |
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4.8 |
| Customer support |
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3.6 |
| Trust & transparency |
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4.1 |
| Overall Rating |
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4.2 |
Ratings based on independent testing, verified user reviews, SEBI complaint data, and platform benchmarking. Updated March 2026.
All charges verified from dhan.co/pricing (official pricing page), Chittorgarh, and official brokerage calculator page as of March 2026.
| Segment | Standard | Women (50% off) | Notes |
|---|---|---|---|
| Equity Delivery | ₹0 | ₹0 | Free for all. Confirmed official. |
| Equity Intraday | ₹20 or 0.03% | ₹10 or 0.015% | Per executed order, whichever lower. |
| Equity Futures | ₹20 or 0.03% | ₹10 or 0.015% | Per executed order, whichever lower. |
| Equity Options | ₹20 flat | ₹10 flat | Flat per executed order. |
| Currency F&O | ₹20 or 0.03% | ₹10 or 0.015% | Per executed order. |
| MF, ETF delivery, IPO | ₹0 | ₹0 | Free for all investors. |
| NRI accounts | Not available | No NRI accounts. Confirmed Chittorgarh. | |
| Charge | Amount | Notes |
|---|---|---|
| Account opening | ₹0 Free | Confirmed official. |
| Demat AMC | ₹0 lifetime | Confirmed official pricing page + support page. |
| DP charge (delivery sell) | ₹12.5+GST per ISIN | Competitive. Compare: Shoonya ₹9, Fyers ₹12.50, ProStocks ₹13.50, Share.Market ₹13.25, Zerodha ₹15.34. |
| Pledge charge | ₹15+GST per instruction | Per pledge instruction. Firstock and mStock offer ₹0. |
| MTF | 4x leverage | 1700+ stocks eligible. MTF is the leveraged delivery facility. |
| Tax | Equity Delivery | Intraday | F&O (Budget 2026) |
|---|---|---|---|
| STT | 0.1% buy+sell | 0.025% sell | Fut: 0.05% sell Opt: 0.15% sell (premium) Effective April 1, 2026. |
| GST | 18% on brokerage + exchange + SEBI charges | ||
| SEBI charges | ₹10 per crore | ||
| Stamp duty | 0.015% (buy) | 0.003% (buy) | Fut: 0.002% Opt: 0.003% (buy) |
Dhan is the first Indian broker to be listed on TradingView.com's official broker panel, and the only broker in the world to offer options trading directly from TradingView.com. This means Dhan users can not only view Indian market charts on TradingView's global platform but place actual options orders from TradingView's interface — something no other broker globally has enabled for options. Additionally, Dhan maintains tv.dhan.co, its own TradingView-powered chart-trading environment. For traders who already live in TradingView, Dhan removes the need to switch to a separate terminal.
The Options Trader is a dedicated platform (web + mobile app) exclusively built for F&O traders. It includes an advanced option chain with real-time OI and Greeks, pre-built strategy templates, a custom strategy builder, P&L analysis, and flash trade for ultra-fast order placement. Super Order is Dhan's answer to bracket orders: a single interface to place your entry price, target, and stop-loss simultaneously — reducing the multi-click friction of traditional order placement. Both features are available at standard ₹20 brokerage with no additional charge.
The 915 Terminal is Dhan's power trader platform — a dedicated terminal for high-speed, high-frequency traders who need speed, flexibility, and complete control. Iceberg Plus allows large orders to be sliced into smaller portions and executed progressively — useful for traders with positions that exceed exchange freeze limits. Dhan WiFi synchronises the web and mobile platforms so a trade placed on web appears instantly on mobile. The DhanHQ API is free, enabling algo traders to build automated strategies at ₹0 API subscription cost.
- You are an active F&O / options trader — the Options Trader app, Super Order, TradingView integration, and 915 Terminal make Dhan the most feature-rich F&O platform at standard ₹20 pricing.
- You already use TradingView — trading directly from TradingView.com eliminates the need to switch between chart and order platforms.
- You are a woman trader — 50% discount (₹10/order) is available only at Dhan. On 20 trades/day, this saves ₹100/day vs standard ₹20 brokers, or ₹25,000/year.
- You build algo strategies and need a free API — DhanHQ API at ₹0, combined with ₹0 AMC and ₹0 delivery.
- You are an NRI — not supported. Consider Angel One or Shoonya.
- You need the lowest F&O brokerage — Shoonya (₹5) is 4x cheaper. TradeSmart (₹15) is cheaper. mStock (₹5) is cheaper.
- You trade MCX commodities — not clearly supported. Zerodha or Shoonya are better.
| Feature | Dhan | Zerodha | Shoonya | mStock |
|---|---|---|---|---|
| F&O brokerage | ₹20 | ₹20 | ₹5 ✔ | ₹5 ✔ |
| TradingView native | Yes, options too ✔ | Charts only | No | Yes (F&O) ✔ |
| Women discount | 50% ✔ Unique | None | None | None |
| Active clients | ~1M ✔ | 8M+ ✔ | 1.4L | 4.6L |
| NRI accounts | None ⚠ | None ⚠ | Yes ✔ | None ⚠ |
Dhan is the most technologically differentiated discount broker in India at the ₹20 price point. The TradingView native integration (world first for options), Options Trader app, Super Order, 915 Terminal, and Iceberg Plus give active F&O traders a platform sophistication that no comparable-priced broker provides. The women's 50% discount is uniquely Dhan's. With ~1 million active clients and Mirae Asset backing, the trust and scale picture is also solid.
Overall: 4.2/5 — Highly Recommended for active F&O and options traders who want the most feature-rich discount broking platform in India. Not for NRIs or MCX commodity traders. If brokerage minimisation is the only goal, Shoonya (₹5) or mStock (₹5) are cheaper.
Free Equity Delivery Trading and Mutual Funds
- Brokerage-free Equity Delivery and flat Rs 20 per trade for Intraday & F&O +
- Brokerage-free Direct Mutual Fund investment +
- Trade with the best trading platform in India.
This is a limited-time offer. Open Instant Zerodha Account online and start trading today.
Frequently Asked Questions:
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1. What are Dhan brokerage charges in 2026?
Delivery, ETF delivery, MF, IPO: ₹0. Equity intraday, futures, currency F&O: ₹20 or 0.03% whichever lower. Options: ₹20 flat. Women customers: 50% discount (₹10/order or 0.015%). AMC: ₹0 lifetime. Account opening: ₹0. Verified from dhan.co/pricing (official) and Chittorgarh.
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2. What is Dhan's 50% women discount?
Dhan offers a flat 50% brokerage discount to all female customers across intraday equity, F&O, currency, and commodity segments. This reduces the brokerage from ₹20/order to ₹10/order (and 0.03% to 0.015%). This is the only gender-based pricing discount offered by any major discount broker in India. It applies automatically to accounts registered with a female identity.
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3. What is Dhan's TradingView integration?
Dhan is the first Indian broker listed on TradingView.com's official broker panel, and the only broker in the world to support options order placement directly from TradingView.com. This means you can view Indian stock and F&O charts on TradingView's global platform and place actual options orders from there — no switching to a separate terminal needed. Dhan also maintains tv.dhan.co, a dedicated TradingView-powered chart trading environment.
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4. Who are Dhan's founders and backers?
Dhan was founded by Pravin Jadhav (CEO, ex-Paytm Money MD/CEO), Alok Pandey, and Jay Gupta. The company is registered as Raise Securities Private Limited (formerly Moneylicious Securities Private Limited), part of Raise Financial Services. Investors include Mirae Asset, BEENEXT, Blume Ventures, 3one4 Capital, and Social Leverage.
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5. Does Dhan offer NRI accounts?
No. Dhan does not currently offer NRI trading accounts. For NRI accounts, consider Angel One, Shoonya (₹0 delivery, ₹5 F&O), or ProStocks.
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6. What is Dhan's DP charge?
₹12.5+GST per ISIN per delivery sell transaction. Competitive: lower than Zerodha (₹15.34), Alice Blue (₹15), Groww (₹20), Angel One (₹20). Higher than Shoonya (₹9), Fyers (₹12.50), and similar to ProStocks (₹13.50) and Share.Market (₹13.25).
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7. What is the Super Order feature on Dhan?
Super Order lets you place entry, target (book profit), and stop-loss orders simultaneously in a single interface — eliminating the multiple-click process of placing bracket orders. Once your entry order executes, the target and stop-loss orders activate automatically. This is particularly useful for F&O traders who need to manage risk precisely without monitoring the position constantly.
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8. Is Dhan safe?
Yes. Raise Securities Private Limited is SEBI-registered (INZ000006031), a member of NSE, BSE, and MCX, and a CDSL DP (IN-DP-289-2016). Your shares are held in your CDSL demat account, independent of Dhan. The company is backed by institutional investors including Mirae Asset and has ~1 million active clients — a scale that provides meaningful operating stability compared to smaller brokers.
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9. Dhan vs Zerodha — which is better?
Choose Dhan if: you are an active options/F&O trader who wants the Options Trader app, Super Order, TradingView.com native trading, 915 Terminal, free DhanHQ API, and are female (50% discount). Choose Zerodha if: you want the most mature, battle-tested platform in Indian broking (14+ years), Kite's proven reliability, Varsity education, Coin for MF, GTT orders, and the biggest customer support infrastructure. On brokerage: both ₹20. On platform innovation: Dhan leads. On maturity and scale: Zerodha leads.
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