If you are here to understand the crucial Dhan vs. Paytm Money points, this post will provide you with a comprehensive analysis of the two platforms. I will walk you through the charges, trading applications, and customer support of the two discount brokers. After you read this Dhan vs. Paytm Money review till the end, you will gain good clarity to choose between the two.
Dhan vs. Paytm Money: Company Overview
Dhan entered the industry in 2021 as a discount broker, and the SEBI-registered stock broker has offerings comprising Equity, IPO, Mutual funds, Futures and Options, Commodity, and Currency. Dhan has many dedicated Options trading features and a great customer support team.
Paytm Money was launched in 2017 and is currently one of the popular trading platforms in India. The discount broker is a subsidiary of One97 Communications and offers various financial products for investing and trading, including Equity, IPO, ETFs, digital gold, and F&O.
Dhan vs. Paytm Money: Charges
Charges is certainly an important Dhan vs. Paytm Money factor to consider. Dhan keeps things affordable for its users with zero charges on account opening and zero AMC. The generous initiative has encouraged many people to explore the trading platform.
Besides, Dhan has an affordable brokerage model in place. Here are the Dhan brokerage's charges:
- Equity Delivery brokerage charges: ₹0
- Equity Intraday brokerage charges: ₹20 or 0.03% of trade value, whichever is lower
- Futures (All segments) brokerage charges: ₹20 or 0.03% of trade value, whichever is lower
- Options (All segments): ₹20 per executed order
Unlike Dhan, the account opening is not free in Paytm Money, and the stock broker has a demat account opening charge of ₹200. Besides, Paytm Money users have to pay an Annual Platform fee of ₹300.
Paytm Money keeps its brokerage charges low, and here is Paytm Money's brokerage model:
- Equity Delivery: ₹15 per executed order or 2.5% of turnover, whichever is lower
- Equity Intraday: ₹15 per executed order of 2.5% of turnover, whichever is lower
- Futures and Options: ₹15 per executed order or 0.02% of turnover, whichever is lower
If we compare, Dhan has an edge over Paytm since it doesn't charge any trading account opening charges and demat account annual maintenance charges. Besides, unlike Paytm, the platform doesn't charge brokerage charges on Equity Delivery.
Dhan vs. Paytm Money: Trading platforms
Dhan Web is the web-based interface of the Dhan trading platform that you can access using your browser. Dhan Web is ideal for users on PCs and laptops. Dhan Web offers a clean interface, good navigation, and an intuitive market overview.
The app has multiple watchlists, order types, and advanced charting tools. Users can choose between Tradingview and ChartIQ and benefit from using over 100 technical indicators. Dhan Web is equally suitable for investing and trading. Most importantly, the app offers fast order execution.
Dhan Options Trader Web
Dhan Options Trader Web is another web application of Dhan that focuses mainly on Options trading. The app has many advanced Options trading features, including OI Gainers, OI Losers, Strategy Builder, Pre-Built Strategies, and Staddle Chain.
Advanced Option traders can capitalize a lot on these features. However, if you are a beginner or into single-legged directional trading, you can use the Dhan Web instead. With that being said, you can use Dhan Options Trader side by side to learn advanced Options strategies.
Dhan allows users to integrate their Dhan accounts into their external Tradingview charting tools. If you are wondering why one will even need to do that, there is a significant advantage to doing this. An external Tradingview account updates comparatively faster than the broker's in-built Tradingview chart. That's why many traders in India prefer using their external Tradingview charts rather than the charting tools provided by their online brokers.
Dhan is aware of it and has addressed the needs of the traders in a significant way. To use your Dhan account with your external Tradingview chart, log in to your Tradingview account and get to the Trading Panel section. Once you get there, you will see many online brokers, and you will also see Dhan. You must click on the Dhan icon and authenticate it with your Dhan credentials.
After doing this, you can place your Buy and Sell orders from your external Tradingview chart. Besides, you can drag your SL conveniently when you need to modify it. Most importantly, managing your orders and open positions is ridiculously simple with this setup. You can view them all on the Tradingview Panel section; that way, you no longer have to leave your chart to track your position.
The Dhan App is a mobile trading app with the features of Dhan Web. The app has a clean interface and a 2FA authentication feature to secure transactions. Besides, you can choose between Tradingview and ChartIQ for your technical analysis. Charts load smoothly, and you can use indicators as well.
The Dhan App allows you to create multiple watchlists. The app also comes with different order types. However, the app logs out suddenly, possibly due to some bugs. Hence, be cautious while using the app. You should only use it after the bug is fixed.
Dhan Options Trader App
Dhan Options Trader App is Dhan's mobile app with dedicated features for Options trading. These features include OI Gainers, OI Losers, Strategy Builder, Pre-Built Strategies, and Staddle Chain. That's why the app's interface is full of features. However, the app may not be suitable for beginners or directional Options trading.
Paytm Money Web
Paytm Money Web is a web-based trading terminal ideal for PC and laptop users using a browser. The app has everything you need for trading; you don't have to install any software to access it. Paytm Money has an excellent, clean interface and a nice market overview.
Besides, the app comes with Tradingview and ChartIQ charting tools. The platform has multiple watchlists, different order types, and in-depth market data. Most importantly, the platform hasn't had any major glitches, and order execution is quick and smooth.
Paytm Money App
Paytm Money App is the mobile application of Paytm Money and has all the features of Paytm Money Web. The application is easy to use and has an intuitive interface. The charting tools work flawlessly, and trading is exceptionally simple using this app.
Paytm Money is one of the most reliable trading apps in India. The app also has the biometric authentication feature for enhanced security. You can use the app for both investing and trading.
Dhan vs. Paytm Money: Customer Support
Another important Dhan vs. Paytm Money factor is customer support as it plays a crucial role in trading, and many at times, we need to contact the customer support of our broker to break out of various technicalities. If we consider the customer support of Dhan, it's certainly impressive with live chat, ticket, and phone support. However, Paytm Money doesn't have live chat or phone support and the only way to contact the Paytm Money support is through tickets. Hence, you can see that Dhan has an edge over Paytm Money in terms of customer support.
Dhan vs. Paytm Money: Pros and Cons
Dhan Pros & Cons
|✔ No account opening charges
|❌ Dhan App is buggy and unreliable
|✔ No annual maintenance charges
|✔ No brokerage charge on Equity Delivery
|✔ Minimal brokerage charges on other segments
|✔ Different apps and options for trading
|✔ Advanced app for Options trading
|✔ Advanced features like API, Webhooks, and Trader's Diary
Paytm Money Pros & Cons
|✔ Good product offerings, including Equity, IPO, ETFs, digital gold, and F&O
|❌ Account opening is not free
|✔ Reliable Trading applications
Advanced charting tools: Tradingview and ChartIQ
❌ Equity Delivery is not brokerage-free
|✔ Low brokerage charges
|❌ No commodity and currency trading
|✔ Advanced order types, including BO and CO
|❌ Only ticket support
|✔ Mutual Fund advisory services
|✔ Good Documentation
I have shared the most crucial Dhan vs. Paytm Money, and now you have good clarity on how the two platform works. As discussed in the post, Dhan has many advantages over Paytm Money in terms of pricing and features, but the only issue is that its mobile app is not very reliable, while the Paytm Money app is more reliable. However, if you don't trade on a smartphone, it shouldn't be a matter of worry for you. Besides, you must be aware of your actual trading requirements. When choosing between two trading platforms, your actual trading or investment requirement is a crucial factor to consider.
Dhan vs. Paytm Money Frequently Asked Questions
What is the difference between Dhan and Paytm Money?
Even though both Dhan and Paytm Money are discount brokers, they differ in terms of charges: account opening charges, annual maintenance charges, and brokerage charges. Besides, there are some salient Dhan vs Paytm Money differences in terms of trading applications.
Is there an account opening fee for Paytm Money?
Yes, Paytm Money charges account opening fee, which is ₹200 per account.
Does Paytm Money Limited charge brokerage fees?
Yes, Paytm Money charges brokerage fees but the brokerage fee differs from segment to segment. However, Paytm Money follows a discount broking model and keeps its brokerage charges low.
What is a direct mutual fund scheme on Paytm Money?
A direct mutual fund scheme on Paytm Money has lower expense ratios, potentially leading to higher returns for investors. The platform offers them for investment. Paytm Money is one of the reliable mutual fund investment platforms for the Indian stock market.
What is the process for opening an account on Paytm Money?
The account opening process on Paytm Money involves providing information, completing KYC requirements, and agreeing to terms. It's a simple process.
Can I trade commodities on Paytm Money?
No, Paytm Moneydoes not offer commodity trading services.
Does Paytm Money have a web trading platform?
Yes, Paytm Money has a web trading platform, and its highly usable and intuitive backed by advanced charting tools and other useful trading features.
Does Paytm Money offer currency options for trading?
No, Paytm Money doesn't have curreny options trading yet.
Can I transfer funds from my bank to Paytm Money?
Yes, you can use bank transfer options to fund your Paytm Money account. The platform allows every user to transfer funds through UPI, NetBanking, Debit Card or AutoPay (One time mandate) of your verified savings account. Since the platform supports UPI payments, you should be able to use Google Pay or Amazon Pay as well to transfer funds to Paytm Money.
How is the Paytm Money customer service?
Paytm Money offers relaible customer service through tickets, and besides, the platform has a good documentation for quick reference.
Is Paytm Money ideal for Intraday trading?
Paytm Money is a relaible platform for Intraday trading backed by advanced charting tools, and fast order execution. Besides, the platform has low brokerage charges on Intraday.