The big oldie- Sharekhan has come up with a separate discount broking unit called Espresso. For the unknown, Sharekhan is one of the country’s largest brokers tracing foundation roots back to the year 2000. It is working under the aegis of BNP Paribas since the year 2006.
Sharekhan offers a diverse variety of savings and investment services to its customers including futures, options, and equities. The company also actively provides phenomenal services in segments of portfolio management, currency trading, mutual funds, research, and investor education.
Presently, Sharekhan boasts of a client base of over 20 lakh customers, being managed by 153 branches all across the nation. The company also has business affiliations with more than 2400 partners all across the country. Sharekhan daily executes more than 4,00,000 trades, making it India’s busiest trading platform.
Espresso provides trade execution services for derivatives and equity cash segments on NSE and BSE, also facilitating commodity trading facilities on NCDEX and MCX as well as in the currency segment.
Espresso is a registered member with both NSDL and CDSL. The basic ideology behind Espresso formulation is to increase capital gains for traders by no provisions of the brokerage on loss-making-intra-day deals. Sharekhan has visualized the “pay-when-you-profit-pricing” model for its latest discount broking offering.
Espresso Margin Offering:
In stock market trading, margin refers to as selling/buying of securities by using money borrowed from brokers. The concept sounds similar to taking a loan for a shorter period. This helps the trader in meeting the designated trade target with less money in hand while trading on an intraday basis. The company has kept the upfront margin collection fixed at a flat 20% in the cash segment.
Espresso Brokerage Review-
Traders pay a lot of attention to brokerage being levied as it ultimately decides the gravity of profit made over a deal. Espresso doesn’t charge brokerage for normal deals, with the brokerage being levied only on profit-making deals. Besides this, the brokerage has been kept fixed at flat Rs. 20 per order across all segments for intraday trades including F&O, Equity, Commodity, and Currency. Espresso doesn’t charge any brokerage in delivery-based trading services. In the equity-based segments, the brokerage charges are fixed at 0.01% or Rs 20 for every successful order, whichever comes out to be lower.
In other trading segments such as derivatives orders in Equity, Currency and Commodity the brokerage charges are fixed at Rs. 20 per order. Espresso also has the facility of levying zero brokerage on squared-off orders in case of loss-making deals.
|Equity Delivery||0.1% or Rs 20 for every margin order (whichever is lower)|
|Equity Intraday||0.1% or Rs 20 for every margin order (whichever is lower)|
|Equity Future||0.01% or Rs 20 for every executed order (whichever is lower)|
|Equity Options||Rs 20 for every executed order|
|Currency Future||0.01 % or Rs 20/executed order (whichever is lower)|
|Currency Options||Rs 20/executed order|
|Commodity Future||0.01% or Rs 20/executed order (whichever is lower)|
|Commodity Options||Rs 20/executed order|
Note- Besides the above brokerage all type of trade is covered within the company’s domain of “Zero brokerage on square-off orders in case of loss”.
Espresso Trading and Demat Account Charges-
The account opening procedure at Espresso is free. The annual maintenance charges for Espresso are fixed at Rs. 400 per year along with the government-mandated GST charges charged quarterly.
Espresso Account Opening Process-
Espresso has an easy account opening procedure. The entire account opening procedure is wrapped up quickly and has minimum documentation constraints. Traders need to sign using their mobile numbers for beginning the account opening procedure. Traders will receive an OTP on the mentioned phone number that needs to be entered on the verification page. Post this, the traders will have to enter their personal, bank account, and PAN details for signing-up. After this, you’ll be asked to enter a set of documents for verification purposes with the stockbroker. The list of documents is as follows-
- PAN Card- Identity proof
- A copy of Voter ID, Driving license, Aadhar Card, Registered Rent Agreement, Passport, and Government Utility Bill. If a person lacks any of the above-mentioned documents then he can submit any other government-mandated document- Address Proof
- Last six months bank statement, last three months salary slip or latest ITR submission copy or form 16- Income Proof
- A signed blank paper sheet- Signature Copy
Espresso Various Other Charges-
Below is a list of another type of charges levied by Espresso-
- STT- The securities transaction tax is a direct tax mandated by the government of India, levied on the purchase and sale of securities.
- Transaction Charges- Transaction Charge is levied by the stock exchange on each transaction placed towards the stock.
- GST- GST charges at the rate of 18% are levied on the sale and purchase transaction of securities.
- Clearing charges- This type of charge is levied by the stock exchange for stock clearing purposes.
- State Stamp Duty- These charges are levied on the specific value of shares purchased/sold and vary from state to state.
- SEBI Turnover Charges- SEBI charges nominal fees on the sale and purchase of securities.
Sharekhan due to its long presence has gauged the market needs, its latest discount broking offering is formulated on the same grounds. Espresso is backed by years of Sharekhan’s experience and is, thus a perfect choice for amateur traders willing to open a trading/Demat account. Some amazing introductory offers like zero account opening fees and referral reward program will be of great help for traders
Ques- What are the account opening charges at Espresso?
Answer- Espresso has no account opening charges.
Ques-What leverage is offered at Espresso?
Answer-Below table has Espresso’s margin details-
|Espresso Exposure / Leverage|
|Equity Futures||Upto 15X|
|Equity Options||Upto 10X|
|Currency Futures||Upto 8X|
|Currency Options||Upto 10X|
Ques-What are the advantages of Espresso?
Answer-The biggest advantage of Espresso is its absolutely free account opening process. Besides this no brokerage on loss making deals is also an attractive feature.
Ques-What is the AMC or Annual Maintenance Charges of Espresso?
Answer-Espresso levies an AMC of Rs.400 exclusive of GST.
Ques-Who is the CEO of Espresso?
Answer-Mr. R. KALYANARAMAN is the CEO of Espresso, who vows to deliver best possible trading experience to traders.