We have an super update on our superfast trading APIs - DhanHQ (www.dhanhq.co)
We have received sincere appreciation from the trading community and technology companies for DhanHQ: Superfast trading APIs, since the day we launched. Our engineering team is very proud of the fact that some of our partners have integrated trading APIs in less than 5 days.
While designing the APIs, we were very sure of the user persona - geeks, algo & systematic traders. As a technology first company that is building Dhan as its trading & investing platform - we understand this better than most folks. Hence, we not only came up with clear-crisp API documentation but with a developer kit where one can try & hit the APIs, validate the same and integrate faster.
When we launched, we kept our Open APIs free of cost and we did not charge anything. However, to make sure that these trading APIs are consumed by serious traders only, we kept an eligibility criterion of 25 executed orders in the last 30 days. The segments that qualify for this criterion are futures, options, currency & commodities. So whoever fulfils this eligibility, can generate an access token from web.dhan.co. Follow these steps to generate a token- My Profile >> DhanHQ Trading APIs >> Access Token.
While we had our own rationale behind keeping this eligibility criteria, many of our users queried and questioned the eligibility criterion. One of the most asked and valid ones was that users trade only in the equity segment, so how can they access APIs? Very valid, and we acknowledge that with a solution that solves this.
Here we are with an update:
Starting today, we have provisioned our APIs into two sections:
- Trading APIs for trade execution
- Data APIs for data consumption
Trading APIs include Order Placement, Orderbook & Tradebook, Positions, Portfolio, Funds, etc. All the APIs are directly related to the user’s trading and account. We have removed the eligibility criteria of 25 trades. These Trading APIs are now accessible to all the users from day-1 of account opening and are completely free of cost. These are the APIs related to the user’s trading account and all activities & data belong to the user.
Data APIs include historical data & market feeds data (coming soon). This data is related to exchange. This requires heavy infrastructure to maintain at our side. For this, users still need to fulfill the eligibility criterion of 25 order execution in the last 30 days to get it free. We have also kept the option to pay INR 499 per month for non-eligible users. If the Data APIs are free, it is subject to misuse, hence we want to be sure the same is consumed by serious users only. For a regular and serious trader, executing 25 orders in the last 30 days should be easy. We feel if anyone is not executing 25 orders in the last 30 days, there is no direct trading use-case for Data APIs.
There is more news for DhanHQ superfast trading APIs - we will be soon launching more APIs for special order types. This means, you will have APIs for:
- Basket Order APIs
- SIP in Stocks APIs
- Forever Order APIs (GTT)
- Draft Order APIs
We feel that more and more users will opt for algo / system based trading in the coming days, and hence as a technology first trading platform - we want to ensure we do our best to help the most advanced super traders who want to build trade execution systems on top of our APIs.
For all of us at Dhan, building an incredible product experience is a journey by choice and we want to Raise the Bar for investing & trading products in India.