Dhani Stocks
Dhani Stocks, legally Indiabulls Securities Limited, is a SEBI-registered Indian retail stock broker offering flat ₹11-per-order trading across NSE, BSE, and MCX, plus MTF, mutual funds, IPOs, ETFs, and algorithmic trading tools to 900,000+ retail investors.
- Company typePrivate
- Founded2003
- HeadquartersConnaught Place, India
- Headcount51–100
- GTM typeB2C
- OfferingServices
What Dhani Stocks does
Dhani Stocks, legally Indiabulls Securities Limited, is a SEBI-registered stock broker incorporated in 2003 in Delhi, India and rebranded from Dhani Stocks Limited in 2020. The firm operates a multi-segment retail brokerage platform across NSE (Capital Market, Futures & Options, Currency Derivatives), BSE (Capital Market, Futures & Options), and MCX for commodities, supported by depository participant licenses with NSDL and CDSL. Its core product set spans equity trading, derivatives, commodities, currency trading, IPO subscriptions, mutual fund distribution, ETFs, NFOs, and Bonds & G-Secs, supplemented by differentiated offerings such as Margin Trading Facility (MTF) at a flat 14% interest, Smart Basket pre-built portfolios, and Stock SIPs for systematic equity investing.
The technology stack is centered on a multi-platform trading infrastructure accessible via web (trade.indiabullssecurities.com), Android, and iOS native apps, with an in-house IB Algo platform providing no-code algorithmic strategy execution. Trader tooling includes Option Analytics (Open Interest, Change, Combined OI, Multistrike OI, Max Pain), Option Chain with customizable filters, FnO Analytics with OI built-up and FII/DII activity data, and TradingView chart integration for advanced technical analysis. The platform documents onboarding via digital self-serve plus an assisted brokerage model offering relationship managers at no extra cost.
Revenue is generated primarily through a flat ₹11 fee per executed order across all market segments, interest income from MTF margin funding at a fixed 14% rate, mutual fund distribution fees, and IPO facilitation fees. The customer base is reported at 900,000+ retail investors and traders, targeting a horizontal retail segment in India through a hybrid GTM combining product-led digital onboarding with field-assisted relationship management. The company does not publicly disclose revenue figures, and explicitly listed AI/ML capabilities are absent from the documented product surface.
Dhani Stocks firmographics
Firmographics- Name
- Dhani Stocks
- Legal name
- Indiabulls Securities Limited
- Website
- https://dhanistocks.com
- Company type
- Private
- Founded year
- 2003
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Dhani Stocks, legally Indiabulls Securities Limited, is a SEBI-registered Indian retail stock broker offering flat ₹11-per-order trading across NSE, BSE, and MCX, plus MTF, mutual funds, IPOs, ETFs, and algorithmic trading tools to 900,000+ retail investors.
- Ownership category
- akta.pro rank
Dhani Stocks industry classification
Industry- Product category
- Retail Brokerage
- NAICS
- Securities and Commodity Contracts Intermediation and Brokerage (5231), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Investment Banking and Securities Intermediation (523150), Portfolio Management and Investment Advice (52394)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211), Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)
- akta.pro primary industry
- Full-Service Retail Brokerage & Wealth Platforms (FSAAAAAA)
- akta.pro secondary industries
- Execution-Only / Self-Directed Investing Platforms (FSAAAAAI), IPO & New Issue Issuer Services (Listing/ISIN setup) (FSACAKAH)
Keywords
Where Dhani Stocks is headquartered
LocationHeadquarters
- HQ city
- Connaught Place
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
Dhani Stocks business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure, Supply Chain
Revenue model
- Brokerage Transaction Fees: Revenue from ₹11 flat fee per executed order across all market segments (NSE CM, FO, CD; BSE CM, FO; MCX)
- Margin Trading Facility (MTF): Interest income from margin funding provided to customers at fixed 14% rate, enabling larger position sizes
- Mutual Fund Distribution: Distribution fees from mutual fund product offerings including NFOs and regular fund investments
- IPO Subscription Services: Facilitation fees for IPO investments with no-cheque subscription process
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Flat ₹11 per executed order across all segments |
| Usage-based | Pay-as-you-go | Margin Trading Facility at 14% interest |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
Dhani Stocks product offering
Product offeringCore offering
Dhani Stocks, operating as Indiabulls Securities Limited, is a SEBI-registered online retail stockbroker offering equity, derivatives (F&O, currency), and commodity trading on NSE, BSE, and MCX through a web and mobile platform at a flat ₹11 fee per executed order across all segments. The broker also distributes mutual funds (including NFOs), facilitates IPO subscriptions, provides a Margin Trading Facility at a flat 14% interest rate, and offers ETFs, bonds, government securities, smart basket portfolios, and stock SIPs.
Product overview
Dhani Stocks (now Indiabulls Securities Limited) operates as a unified multi-segment trading and investment platform offering a comprehensive suite of products. The core offering includes ₹11 flat fee per executed order across all market segments (NSE CM, FO, CD; BSE CM, FO; MCX). The platform's product portfolio centers on equity trading, mutual fund investments, margin trading, and IPO access, supplemented by ready-made investment solutions like Smart Baskets and Stock SIPs. Advanced trading tools are available as integrated modules including IB Algo for algorithmic trading, Option Analytics, Option Chain, FnO Analytics, and TradingView Charts. The platform provides multi-channel access via web trading and mobile applications, targeting retail investors and traders seeking both self-directed and assisted brokerage services.
Differentiator
Problem solved
Functional benefit
Products and services
- Stocks - Equity Equity trading service enabling retail investors to invest in stocks with real-time market insights and powerful trading tools across NSE and BSE cash segments.
- Mutual Fund Distribution Distribution service providing retail investors access to a wide range of mutual fund schemes for wealth creation, with distribution commission revenue to the broker.
- Smart Basket Ready-made stock portfolios designed for diversified, theme-based investing, enabling retail customers to invest effortlessly in curated baskets.
- Stock SIP Systematic Investment Plan for stocks allowing users to invest in equities monthly and build wealth over time through disciplined periodic purchases.
- IPO Subscription Initial Public Offering investment service providing retail customers with early access to upcoming IPOs through a no-cheque subscription process.
- Margin Trading Facility (MTF) Margin funding service that lets customers take larger positions and own more shares with leveraged capital at a flat 14% interest rate.
- ETF Exchange-Traded Fund investment option that enables investors to own top indices at low cost for diversified, low-cost passive exposure.
- New Fund Offer (NFO) New Fund Offer service providing early access to new mutual fund launches for portfolio diversification at the inception stage.
- Bonds & G-Secs Fixed-income investment products including corporate bonds and government securities offering stable returns from sovereign-backed and rated issuances.
- IB Algo In-house algorithmic trading platform enabling automated trade execution and no-code strategy implementation for retail and active traders on the broker.
Quantifiable outcome
- 900,000+ customers served
- +1 more outcomes
Companies that use Dhani Stocks
Customer profileSegments1 record
Ideal customer profiles2 records
Dhani Stocks technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Dhani Stocks partnerships and signals
Strategic signalScale indicators2 records
Recent moves6 records
Expansion highlights4 records
Dhani Stocks competitors and assessment
Company assessmentDirect peers
- Zerodha: India's largest discount stock broker offering equity, derivatives, commodity, and currency trading with a zero-commission model on equity delivery and flat-fee pricing on other segments. Most direct competitor to Indiabulls Securities' retail offering, competing head-to-head on price, technology, and product breadth.
- 5paisa: Indian discount broker offering flat-fee equity, derivatives, and commodity trading along with mutual fund distribution and margin trading. Comparable on the flat-fee pricing model and product breadth across market segments.
- Angel One: Full-service Indian retail broker offering equity, derivatives, commodity, currency, mutual funds, and IPO services with both self-directed and assisted brokerage. Closely comparable to Indiabulls Securities on multi-segment exchange memberships and product breadth.
- Upstox: Technology-driven Indian discount broker (Tata group-backed) offering equity, derivatives, mutual funds, and IPO services with low-cost flat pricing. Directly comparable on product suite, pricing model, and target retail customer segment.
- Groww: Leading Indian retail investment platform offering equity, mutual funds, IPO, and F&O trading with a digital-first onboarding experience. Competes directly with Indiabulls' PLG motion and product breadth, particularly among younger first-time retail investors.
Broad incumbents
- HDFC Securities: Bank-affiliated Indian broker (HDFC Bank group) offering equity, derivatives, mutual funds, IPO, and currency trading. Comparable product suite with the distribution advantage of a large banking parent and broader wealth management services.
- ICICI Direct: Bank-backed full-service Indian broker (ICICI Bank subsidiary) offering equity, derivatives, mutual funds, IPO, and wealth advisory services. Comparable on product breadth but with deeper distribution from parent bank's retail customer base and higher-touch advisory model.
- Kotak Securities: Bank-affiliated Indian broker (Kotak Mahindra group) offering equity, derivatives, mutual funds, IPO, and currency trading with both digital and assisted channels. Comparable on full-service retail brokerage with established customer base and bank-parent distribution.
- Sharekhan: Established Indian full-service broker (BNP Paribas affiliate) offering equity, derivatives, mutual funds, IPO, and trading across NSE/BSE/MCX. Comparable on multi-exchange memberships and traditional assisted brokerage model targeting retail and HNI segments.
- Motilal Oswal Financial Services: Indian financial services group offering retail broking, equity derivatives, mutual funds, and wealth advisory with strong institutional research capabilities. Comparable on multi-asset retail brokerage plus broader wealth management, with stronger research-led differentiation.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Dhani Stocks social profiles
Digital presenceDhani Stocks compliance and trust
Trust signalCompliance7 records
Dhani Stocks financial estimates
Financial estimateRevenue estimate
Valuation estimate
Dhani Stocks leadership team
Management profileNumber of profiles
Profiles7 records
Dhani Stocks funding detail
Funding detailFunding overview
Funding rounds1 record
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Dhani Stocks M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Dhani Stocks
What does Dhani Stocks do?
Dhani Stocks, operating as Indiabulls Securities Limited, is a SEBI-registered online retail stockbroker offering equity, derivatives (F&O, currency), and commodity trading on NSE, BSE, and MCX through a web and mobile platform at a flat ₹11 fee per executed order across all segments. The broker also distributes mutual funds (including NFOs), facilitates IPO subscriptions, provides a Margin Trading Facility at a flat 14% interest rate, and offers ETFs, bonds, government securities, smart basket portfolios, and stock SIPs.
Is Dhani Stocks a public or private company?
Dhani Stocks is a private company. It is classified as unknown and is currently operating.
When was Dhani Stocks founded?
Dhani Stocks was founded in 2003. It employs 51 to 100 people.
Where is Dhani Stocks based?
Dhani Stocks is headquartered in Connaught Place, India, in the Asia region.
How does Dhani Stocks make money?
Four revenue lines are on record. Brokerage Transaction Fees are the primary driver. The others are margin Trading Facility (MTF), mutual Fund Distribution and IPO Subscription Services.
Who are Dhani Stocks's main competitors?
Direct peers on record are Zerodha, 5paisa, Angel One, Upstox and Groww. Broad incumbents are HDFC Securities, ICICI Direct, Kotak Securities, Sharekhan and Motilal Oswal Financial Services.
Does Dhani Stocks have an API?
No public API is recorded for Dhani Stocks.
What industry is Dhani Stocks in?
Dhani Stocks's product category is Retail Brokerage. Its primary akta.pro industry code is FSAAAAAA, Full-Service Retail Brokerage & Wealth Platforms, with a secondary code of FSAAAAAI, Execution-Only / Self-Directed Investing Platforms. Its NAICS code is 5231 and its SIC code is 6211.