Is Dhan Safe? SEBI Registration, Client Money and How to Verify
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Dhan is a trading brand of Raise Securities Private Limited, which is registered with SEBI as a stock broker (INZ000006031) and is a CDSL depository participant (IN-DP-289-2016), according to Dhan’s own pages. Your shares sit in a demat account in your name at CDSL, not on the broker’s books. Registration does not remove market risk or guarantee service quality, so check the numbers yourself using the steps below.
Last updated: November 2026
“Is it safe?” can mean three different things: is the company a regulated broker, are my money and shares kept separate from it, and what risks remain even with a regulated broker. This page covers each one using Dhan’s own disclosures and SEBI rules, as read in November 2026. It is not a verdict on whether you should open an account.
Dhan’s registrations, as Dhan lists them
| Item | Detail listed by Dhan |
|---|---|
| Legal entity | Raise Securities Private Limited (“Dhan” is a brand name) |
| SEBI stock broker registration | INZ000006031 |
| Depository participant (CDSL) | IN-DP-289-2016 |
| SEBI research analyst registration | INH000023357 |
| Exchange membership | NSE: 90133 · BSE: 6593 · MCX: 56320 |
These numbers are copied from the footer of Dhan’s website and support pages. A number on a broker’s own site is a claim, not proof. Use the next section to confirm it with the regulator and exchanges.
How to verify a broker yourself in 5 minutes
- SEBI: search the registration number in SEBI’s intermediaries list and check that the name, status and category match.
- Exchanges: look up the member code on the NSE, BSE and MCX member lists.
- Depository: CDSL publishes its depository participants; confirm the DP ID there.
- Name match: the entity on your contract note and account opening form should be the registered one (here, Raise Securities Private Limited), not a similar-looking name.
- Only trust official channels: download the app from the official store listing or from dhan.co, and ignore anyone who contacts you on messaging apps offering tips or “guaranteed” returns.
Where your money and shares are kept
- Shares: held in your demat account with the depository (CDSL), in your name. The broker is a participant, not the owner.
- Margin against shares: Dhan’s support pages say stock brokers can accept securities as margin from clients only by way of pledge in the depository system, which is the SEBI-mandated route. You approve pledges through CDSL.
- Selling holdings: before a sell order, you authorise your holdings with a TPIN set at CDSL (or a pre-authorisation). Dhan says TPIN verification does not sell your holdings; it only permits you to place a sell order, and it covers existing holdings for one day.
- Extra lock for selected stocks: Dhan offers SafeKeep, described on its support pages as a private vault for stocks you choose. Only free, settled holdings are eligible; pledged, MTF and already-frozen quantities are excluded.
- Unpaid purchases: under SEBI’s 2022 circular, if a client does not pay for shares bought, Dhan pledges securities worth at least 130% of the net debit in a client unpaid securities pledgee account, as set out in its Risk Management Policy. Dhan can sell them if dues stay unpaid.
Client funds are, under SEBI’s rules for brokers, to be kept in separate client bank accounts rather than mixed with the broker’s own money. Dhan’s pages do not set this out in one place, so read its terms and the account opening documents for the details.
Risks that registration does not remove
- Market risk: prices can fall whichever broker you use. Leveraged products such as F&O and MTF can lose more than you expected; see our Dhan MTF guide.
- Forced selling: if margin falls short, positions can be closed by the broker’s risk team under its policy.
- Platform and connectivity: any app can have downtime or order delays at busy moments. Keep an alternative way to place orders, such as a call to the broker’s support line.
- Fraud aimed at traders: fake apps, copied websites and “tip” groups impersonate brokers. Never share OTPs, TPINs or PINs.
- Disputes: if something goes wrong, raise it with the broker first. If you are not satisfied, you can complain on SEBI’s SCORES portal or use the online dispute resolution (SMART ODR) platform.
Dhan customer care
Dhan lists customer care on 9987761000 and the email help@dhan.co. For the full process and charges, see our Dhan account opening guide and the Dhan charges page, or compare brokers on the comparisons hub.
Is Dhan safe: FAQs
Is Dhan SEBI registered?
Dhan is a brand of Raise Securities Private Limited. Its pages list SEBI stock broker registration INZ000006031, CDSL depository participant ID IN-DP-289-2016 and research analyst registration INH000023357. Confirm them on SEBI’s intermediaries list.
Is my money safe with Dhan?
Funds and shares are governed by SEBI’s rules for brokers, including holding shares in your own demat account and taking them as margin only by pledge. Registration does not protect you from losses on trades, so understand the risks of what you trade.
Does Dhan own my shares?
No. Your shares are held in a demat account in your name with the depository, CDSL. The broker acts as a depository participant.
Can Dhan sell my shares without my permission?
Selling needs your authorisation through a CDSL TPIN or pre-authorisation. Shares can be sold without a fresh order only in defined cases, such as pledged securities for unpaid dues or a margin shortfall under the broker’s risk policy.
Which regulator do I complain to if there is a problem?
Complain to Dhan first. If unresolved, use SEBI’s SCORES portal or the SMART ODR platform.
How do I avoid fake Dhan apps and calls?
Install only from dhan.co or the official store listing, never share OTPs or PINs, and ignore messages promising guaranteed returns.
Is trading on Dhan risk-free?
No. Investments in securities markets are subject to market risks, whichever broker you use. Nothing on this page is investment advice.
Sources
Pages read in November 2026: Dhan: broking entity name; Dhan: regulatory information; Dhan: Risk Management Policy; Dhan: TPIN verification; Dhan: SafeKeep eligibility; Dhan: fund addition and pledge; SEBI: intermediaries; SEBI SCORES.
Dhan can change processes and policies at any time, so confirm on Dhan before you act. This page is for information only, not investment advice.
