Paasa is a global investing platform for Indian residents and NRIs, with shares held in your own name and the LRS, FX and tax paperwork handled for you. Dhan is an Indian trading platform that added US stocks in June 2026, routed through GIFT City with holdings at a US partner broker. Choose Paasa to own your shares directly, invest across global markets and have the paperwork handled. Choose Dhan to add US names beside an active Indian trading account.
How do Paasa and Dhan compare for US stocks at a glance?
The table compares Paasa and Dhan as of October 2026, from their own pages.
| Feature | Paasa | Dhan |
|---|---|---|
| What it is | Global investing platform built on an IBKR account | Indian trading platform. US stocks via Raise IFSC at GIFT City |
| Who holds your shares | Interactive Brokers LLC, in an account in your own name | ViewTrade, Dhan's US partner broker |
| Investor protection | SIPC up to $500,000 plus Lloyd's excess up to $30 million, on your own account | Not stated on Dhan's pages |
| Markets | 11 markets, each in its home currency | US stocks and ETFs only |
| What you can buy | 15,000+ tickers, UCITS ETFs, SIPs | US stocks and ETFs, fractions, SIPs, Super Orders |
| Availability | Open now | Live since June 2026 |
| Brokerage | 0.10% plus $0.15 per order, min $0.50, max $50. No monthly fee | A percentage of trade value with no cap, plus GST |
| Currency conversion | Partner-bank preferred rates, 0.03% at mid-market in-account | Bank markup shown in-app, range unpublished |
| Tax reports | Schedule CG, FA, OS/FSI, Form 67, ITR-2 checklist, Form 1042-S | Form 1042-S, Schedule FA, TR and FSI, trade book, contract notes |
| Advice and support | SEBI-registered advice and a relationship manager on Apex | Self-directed, in-app chat and phone |
What is Paasa, and what is Dhan?
Paasa is a global investing platform for Indian investors, built on Interactive Brokers. A Paasa account is an IBKR account opened in the investor's own name. Paasa adds Indian onboarding, LRS and FX support, INR tax reports and SEBI-registered advice.
Dhan is a Mumbai trading platform launched in November 2021, run by SEBI-registered Raise Securities and among the ten largest Indian brokers by active clients. In June 2026 it added US stocks through Raise IFSC, its GIFT City subsidiary under IFSCA rules, with ViewTrade executing and holding the stocks in the US.
Who holds my shares on Paasa and on Dhan?
On Paasa, Interactive Brokers LLC holds your shares in an account in your own name. On Dhan, your US stocks sit with ViewTrade, its US partner broker, outside your Indian demat account. Dhan says it never holds your dollars, which go straight to ViewTrade's ledger.
A Paasa account carries SIPC protection up to $500,000, including $250,000 for cash, plus Lloyd's excess cover up to $30 million. If Paasa ever shut down, the assets would stay at IBKR in your name. See how your money is held and protected with Paasa. Dhan's pages do not mention SIPC cover, so ask Dhan what protects your holdings before you fund.
What does each cost on a US trade?
Paasa charges less per order than Dhan at typical sizes and caps the fee, while Dhan's percentage has no cap. Paasa's figures are from its pricing page, October 2026.
Paasa's Access plan has no monthly fee. US brokerage is 0.10% of trade value plus $0.15 per order, with a $0.50 minimum and a $50 maximum. A $2,000 order costs $2.15 and a $10,000 order $10.15. In-account currency conversion costs 0.03%, minimum $2, at the mid-market rate. Apex adds advice for 1% a year plus GST from $50,000, 0.7% from $100,000 and 0.5% from $500,000.
Dhan charges a flat percentage of each trade plus GST, with no cap, and free withdrawals. The bigger cost on both is currency conversion, and that is where the two part ways. Compare your typical ticket with Paasa's brokerage calculator and the all-in cost comparison.
How do I send money from India to Paasa or Dhan?
Both are funded with an LRS remittance from an Indian bank. The RBI lets each resident remit up to USD 250,000 per financial year (RBI). Tax Collected at Source (TCS) applies at 20% on investment remittances above ₹10 lakh in a financial year (Income Tax Department TCS rates). TCS is not a fee. It is adjusted or refunded when you file your return.
With Paasa, partner banks HDFC, ICICI, Axis and Kotak offer preferred FX rates. Paasa pre-fills Form A2 and Forms 15CA/CB and earns nothing on FX. Withdrawals go out in any currency to any account in your name. With Dhan, you move money by net banking from one of five supported banks, your bank's markup is shown in-app and locked when you confirm, and withdrawals return free to your Indian account. Paasa's LRS guide and TCS guide cover the steps.
Which markets and products can I buy on each?
Paasa reaches 11 markets and Dhan the US only. Paasa covers 15,000+ tickers across 11 markets including the US, UK, Switzerland, Germany, France, Netherlands, Hong Kong, Japan, Canada and Singapore, each in its home currency. It adds UCITS ETFs in whole units or fractions, SIPs, and market, limit, stop and trailing-stop orders.
Dhan's US segment covers Nasdaq and NYSE stocks and ETFs, with fractional buying by dollar amount, daily, weekly or monthly SIPs, and Super Orders with a target and stop-loss. Orders are delivery only with no derivatives, and there are no UCITS ETFs or non-US markets.
What do I get at tax time from Paasa and from Dhan?
Both send Indian tax paperwork, and Paasa's includes the gains computation. Each financial year, Paasa provides Schedule CG, FA and OS/FSI, Form 67, an ITR-2 checklist and Form 1042-S, all in INR. Paasa's capital gains guide, Schedule FA guide and Paasa Tax cover the details.
Dhan's Reports section gives Form 1042-S, pre-filled Schedule FA, TR and FSI, plus trade books and contract notes from which you or your CA compute gains. The Indian rules are the same on both. Gains on US shares held over 24 months are taxed at 12.5%, shorter holdings at your slab rate. The US withholds 25% on dividends with a W-8BEN on file, claimable through Form 67.
What is day-to-day use like on Paasa and on Dhan?
Paasa is built around one global account with human support, and Dhan around a trading app. On Paasa, uninvested USD above $10,000 earns interest, up to 3.38% a year as of October 2026. Paasa's team answers by email and WhatsApp on weekdays, and Apex clients get a relationship manager.
On Dhan, US stocks sit in the same app as Indian stocks, F&O and mutual funds, with orders placed anytime and filled during US hours. Support runs through in-app chat every day and phone lines on trading days.
When is Dhan the better choice?
Dhan may suit you better than Paasa if:
- You trade on Dhan and want a few US names beside your Indian positions.
- You run daily or weekly US SIPs in small amounts and like Super Orders.
- You want US and Indian holdings under one login.
Should I choose Paasa or Dhan?
Choose Paasa to hold shares in your own name, reach markets beyond the US, and have the LRS, FX and tax paperwork handled. Choose Dhan for a US add-on inside an active Indian trading account.
| If you want… | Better fit |
|---|---|
| Shares held in an account in your own name | Paasa |
| UK, European, Hong Kong or Japanese stocks in their home currency | Paasa |
| UCITS ETFs beside US stocks | Paasa |
| Advice and a relationship manager from $50,000 | Paasa (Apex) |
| US stocks inside your Dhan trading app | Dhan |
| Daily US SIPs and Super Orders | Dhan |
Already on Dhan? Paasa accepts in-kind ACATS transfers of US stocks and ETFs where the sending broker supports them, with purchase dates and prices preserved. Ask Dhan whether ViewTrade can send holdings out, since selling to move is a taxable event, as Paasa's transfer guide explains. Many investors keep Dhan for Indian trading and Paasa for everything global.
How does Paasa help investors coming from Dhan?
- Paasa opens the IBKR account in your own name, with SIPC and Lloyd's excess protection.
- Paasa adds ten markets beyond the US, each in its home currency, plus UCITS ETFs.
- Paasa's tax pack covers Schedule CG, FA and OS/FSI, Form 67 and an ITR-2 checklist.
Disclosures
Advisory services are offered by Arc Spire Advisory Private Limited, a SEBI Registered Non-Individual Investment Adviser, INA000021058. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. This article is not tax advice. Consult a qualified tax adviser for your situation.
