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As an experienced forex trader, I approach new brokers like Dhan with a high level of scrutiny, especially when considering both safety and overall suitability. From my review, Dhan is an India-based platform that offers a diverse range of trading instruments—including stocks, options, futures, commodities, currencies, ETFs, and mutual funds—through several proprietary and partner trading platforms. Although the platform's variety of instruments and user-friendly interfaces might initially seem attractive, I have significant reservations about Dhan's trustworthiness. The most critical issue for me is the absence of valid regulatory oversight. Dhan operates without any recognized financial regulation according to the information available, which immediately raises a red flag in terms of trader protection. Regulation is vital because it enforces certain standards, ensures proper risk controls, and offers a framework for dispute resolution or compensation in case things go wrong. Without regulation, I know my funds and data may not be as secure; there's simply no authoritative body monitoring their conduct or safeguarding traders' interests. In addition, Dhan does not support popular international trading platforms such as MT4 or MT5, and there is no demo account option, making it impossible to test their services risk-free. For me, these factors suggest a lack of transparency and flexibility compared to established, regulated brokers. Given the high risk and the lack of oversight, I remain extremely cautious and would not recommend Dhan for those seeking reliability or safety in their trading activities. For my own capital, I strongly prefer regulated brokers with a clear compliance record.