Confuse which broker to use

I’m just confuse which broker to use

  1. Fyers got watchlist import feature
  2. Upstox got 3-1 GTT Feature
  3. Zerodha got Age old chart & stability
  4. Dhan got ability to connect to TV (fyers also got that)…

I’m just confuse which two should I use?..

Look what suits your trading style. But however with features Dhan has number of order types to choose like iceberg, gtt, sl,trailing sl, market, limit etc… when comes to charges all brokers mentioned have same. But you can save AMC with Dhan & Fyers. Moreover Dhan updates are faster than Fyers or Zerodha for community requested features. You can ask if something missed.

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Purely on cost u should look at Finvasia else on an all round basis Dhan.

Nice reply… i will think what suits my style and make informed decision

Hi @Satyam This is my personal opinion on the stock broking industry, do check out - https://www.beingpractical.com/2022/09/25/stock-broking-industry-some-perspective-on-pricing-brokerage-way-forward/

It’s bit old post, wrote this last year. My views on the industry remain the same.

For Broking business, prior to Dhan I rarely saw anyone innovating or building for traders / investors, some did happen, but none at the pace at which we ship. Trust me, our teams tracks this industry like crazy and can pin-point everything that is even remotely inspired by Dhan. We personally see this as - with competition, customers get the best choice… and we have to try very hard :slight_smile:

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I read your article it’s very well written and i support & respect your vision.

Thus i will be direct, the problem I’m facing with dhan is :-

  1. There is multiple API Bugs (I even created a seperate post for that and believe me some of them still aren’t solve)

  2. Import of watchlist (Fyers got it done)

  3. GTT 3-1 ( Upstox got it, fyers will get it, i read somewhere in post that Dhan is also releasing the same by end of this month, kindly confirm)
    Also they are adding Alert & GTT order on their Web Terminal , that will be handy

  4. BACKEND OFFICE/ REPORT ! Just clone Zerodha’s console

  5. Sadly I’m stuck with a ESM stock and Dhan lack platform feature to cancel the order if it’s not executed in call periodic terminal.

Hi @Satyam

  1. For the API related query - please share on api@dhan.co, @Hardik leads the API product, will review this.

  2. Import of Watchlist, we are doing something on this to make adding things easier on Dhan.

  3. We are working on few features, we go step by step unlike most brokers who have been around for years, if not more than decade. We introduced Forever on F&O, then Equity, then MTF and now with OCO. All this post going live on DDPI.

  4. Reporting is the toughest job on broking, we have lots to do here. We focussed a lot on front end, capabilities, order management, ease of trading and likes, we continue to work on the reports. The more edge cases we encounter, they better this becomes.

  5. ESM stock measures are prescribed by exchanges, if its possible to cancel, will figure out how we can. Do drop a note with your client id on feedback@dhan.co

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:+1: Very happy to see Dhan bring in great features at the pace that you guys do. Purely on the product play Dhan is edging out many previous edges that existed in the industry.

For around 15 lakh daily active traders in India product, tech, execution speed, reliability, trust, support and accountability all matters. They will pay the Rs.20 per order brokerage.

For those who start trading or those who make a loss or less than FD returns, price is also a sensitive point. Brokerage is the cost that directly stares at them and so it is seen as a pain point. Although in many cases all the other % incidentals like exchange, SEBI, govt charges may be significant as well. So if you get a chance to voice an opinion to Finance Ministry please put forth the need to cut charges like STT :sweat_smile:. I think it has less to do with revenue expectations and more to do with a view that stock / derivative trading is a harmless vice.

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For me, the inaccuracy of chart data is the biggest problem on Dhan.

Everything said and done, for a trader ultimately a trade based on charts is as right as the chart data. So, no matter how good analysis you do, if chart data is wrong, you won’t be setting good technical targets/SLs.

Mostly people believe that accuracy of past data is not of that much importance. Sadly, that is something farthest from the reality. Past data on charts (including intraday charts) is something that you have to continuously observe and correlate to identify linkages and patterns. And unfortunately, this is the most I miss on Dhan.

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Matt Leblanc Wow GIF by NowThis
No brokerage?? DP charges only 9+GST, No FnO charge. How is that sustainable?

I guess u r talking about Finvasia. Here is what I know about their business model - there are alternate revenue streams

  1. Turnover commission - Brokers are paid back by exchange depending on the turnover they generate.

  2. Clearing services for trading members to settle and clear trades

  3. Platform charges for non retail client base.

  4. Other non retail services to HNIs, FPIs etc like collocation, customised investment solutions etc.

Is that generating enough revenue? How is their customer support? Have they employed enough Customer service executives? Also, what would happen in the future when their retail users grow?

I don’t know. But Finvasia is a part of business group which has significant other interests.

Chat and ticket support. No community support. But rest assured if there is a major problem chat and ticket system response could be very much delayed. Otherwise fine. Typically brokers don’t staff the support team to handle peak loads. This is not just limited to Finvasia in the broking landscape.

Typically I have seen scaling blues with brokers when there is sudden spike in user base. So it is reasonable to assume that may happen with them as well if there is a sudden barrage of customers.

DHAN is the MOST RESPONSIVE BROKER among the top brokers in the country.
Yes …there have been continous crashes in the recent days but that is also an indicator of their experimental testing and innovations etc.

FYERS. ZERODHA community forum is DEAD. They aren’t responsive to cutomer feedbacks.
HERE IN DHAN ATLEAST WE HAVE DHAN REPRESENTATIVES here WILLING TO LISTEN TO our feedbacks.We can ACTUALLY TALK WITH THEM and PLACE OUR FEATURE REQUESTS to which they RESPONSE SWIFTLY.

THis is SOMTHING WHICH HAS STILL BOUND ME TO DHAN.
I WANT a BROKER WHO LISTENS TO ME AND MY FEATURE REQUESTS QUICKLY.

DHAN IS doing a lot of things which are INDUSTRY FIRST in the country. IT has got YOUNG BOYS N GIRLS HERE who are REPLYING HERE (sometimes in real time) to our REQUESTS.

Whatver you need is THERE IN DHAN.

Personally saying I would wat a KITE like MINIMALISTIC TYPE TRADING DASHBOARD (as a separate TAB—like DHAN OPTIONS TRADER) for daily intraday trading.

The point is that DHAN is a RELIABLE BROKER which needs our support so that it can do MORE BETTER THINGS FOR US.

DHAN has everything a TRADER/ INVESTOR needs and your feedback will be heard.

Just let the DHAN TEAM know.

REST your wish

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Yes, Dhan has built a very good community platform, and response time is good/very good. But what about other channels? Email, phone, and other social media?

Email and Phone TOO IS OK.
You can talk to the customer care execuive USUALLY under 3 minutes…ATLEAST thats my expeeince.

3 minutes?
Excuse Me Wow GIF by Mashable
The last time I called them it took me 12-13 minutes, it was a normal day, no rush. And currently, I am waiting for their response on email and X (Twitter) about an issue, I emailed them 1 and a half an hour ago.

  1. It has already been requested

One click import scripts from csv or txt in watchlist [ PLEASE BRING THIS FEATURE ] - Feature Requests ✋ - Dhan Community

  1. I agree Upstox gtt feature is super cool. But dhan focus on own product doesn’t look other broker features. Dhan OCO just has been launched you can check it.

3.Agreed But Dhan has also lighting fast online platform.
4.Agreed which is cool feature.

Totally depend what kind of trader you are ?? Like scalper, swing, intraday etc

Charts on Dhan: What happens behind the scenes and how Charts work exactly?

Read this post !! Mujhe bhi samjha dena sir ji !!

Purely capital will wipe off and their platforms are not stable, UI is so poor, Reporting also not easier. Better to pay minimum brokerage for better systems instead of no Brokerage

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