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As a trader who values both transparency and risk management, I approach any new broker with cautious scrutiny, especially when regulatory oversight is absent. With Dhan, it’s challenging to get a clear, detailed picture of their fee structure because the platform does not overtly state its commissions, spreads, or ancillary trading charges in the public sources I referenced. In my trading experience, this lack of transparency is a red flag—since reputable brokers typically publish all costs upfront, allowing traders to calculate potential profitability and manage risks more effectively. Notably, Dhan does not provide access to industry-standard platforms like MT4 or MT5, which usually have well-defined fee schedules. The absence of a demo account also means I can’t test their environment to estimate the true trading costs through simulated trades. Furthermore, key details regarding minimum deposits, spread ranges, or margin costs are missing. As someone who prioritizes clear information before committing capital, I find it problematic that there is no structured breakdown covering typical areas like commissions per instrument or possible non-trading fees (for example, withdrawal or inactivity charges). Given these uncertainties and the high-risk label attached to Dhan—accentuated by its lack of regulation—I cannot confidently assess their competitiveness on fees. In my judgment, without full disclosure and external oversight, I would personally remain wary and recommend that traders demand comprehensive fee details directly from Dhan before proceeding. For me, incomplete cost transparency is a significant barrier, and I would urge others to approach with similar caution.