Sharekhan Review 2020, Brokerage Charges and Trading Platforms

Sharekhan Review 2020

Sharekhan Brokerage Review 2020

In the field of stock broking, if there is one name that is among the best ones, it is Sharekhan. The stock broking firm has carved a niche in the market by pioneering all aspects of the field.

Based out of Mumbai, the stock broking firm has come a long way since its inception in the year 2000. It was brought to life by its parent company S.S. Kantilal Ishwarlal Securities Limited (SSKI). Later it was sold out to BNP Paribas that spent Rs. 2200 crore for the deal. At the time of this transition, Sharekhan was having an active client base of nearly 12 lakh+ members.

BNP Paribas is a top-rated bank in Europe with a global reach. It has a fabulous presence in 75 countries, with more than 189,000 employees. It has had a presence in India for over 150 years having established its first branch in Kolkata, in 1860. With this unmatched experience of the Indian market, it is among the best-known corporate banks in the country.

Sharekhan is considered among the biggest stock brokers in India and offers a wide range of trade and investment products to its clients. The stock brokerage is actively present in 28 states, over 600 cities and features nearly 170 branches and 2200+ franchise partners.  Share khan has now over 14lakh clients in India and this includes individual investors institutions and traders, corporates & NRIs.

Being into the industry for almost 2 decades, Sharekhan enjoys a crown of glory on its head.

Sharekhan.com has the smartest and comprehensive investment portal that is solely focused on Indian stock market. Its enriching website provides a vast range on investment products, share market news, research reports, stock quotes, fundamental and statistical info across equity, mutual funds, IPOs and much more.

Sharekhan has won several accolades and awards from various entities that clearly exhibit its supremacy in the stock broking domain.

Sharekhan is ranked at 3rd position in India (preceded by ICICI Direct and HDFC Securities). The Broking firm has seen tremendous growth over the last 11 years as an online trading platform and it is quite common to locate its franchises located in various parts of the country.

Sharekhan offers trade facilities for equity cash and derivatives segments on BSE and NSE, commodities trading facilities on MCX and NCDEX. Sharekhan also provides depository services (demat account) and option to invest in mutual funds and IPOs.

Its major offerings include:

  • Equity
  • Derivatives
  • Currency
  • Mutual Funds
  • Commodity
  • Advisory services
  • IPO
  • PMS (Portfolio management services)

Besides market research, Sharekhan provides stock market basics knowledge through Sharekhan Classrooms. This online service is available to the clients where traders and investors are being given different stock market ideas at basic, intermediate and advanced levels.

In a similar way, Sharekhan offers premium services through its representatives or relationship managers to the clients to help monitory their portfolio carefully.

Membership Information

Its membership details are given below.

Entity Membership ID
SEBI Regn. No.: BSE / NSE / MSEI / MCX INZ000171337
BSE 748 – CASH/FAO/CD
NSE 10733 – CASH/FAO/CD
MSEI 1043 – CASH/FAO/CD
MCX  56125 – Commodities
Depository services through: NSDL / CDSL IN-DP-365-2018
PMS INP000005786
Mutual Fund ARN 20669
Research Analyst INH000006183
Registered Address Sharekhan Limited, 10th Floor, Beta Building, Lodha iThink Techno Campus, Off. JVLR, Opp. Kanjurmarg Railway Station, Kanjurmarg (East), Mumbai – 400042, Maharashtra

 

Process to Open an Account at Sharekhan

Sharekhan provides 2-in-1 account (trading + demat account). The demat account is not compulsory with Sharekhan for investors who wish to trade only in derivatives segment (F&O).

Sharekhan has launched fabulous prepaid trading plans that are meant primarily for high volume customers which results into lower brokerage charges in case of high frequency trading.

One would require a trading account with Sharekhan to perform trading in equity, commodity or currency. If your plan is to invest in equity (hold the shares you are buying for few days or month), then you also need to open a Sharekhan Demat account.

Account opening with Sharekhan is truly a smoother affair in comparison to its counterparts. They have numerous local touchpoints (branch, sub-brokers and franchisee) in the neighborhood of most of the cities of India.

When it comes to open an account in Sharekhan, an investor or trader have two option in this regard.

  1. Request a Call Back – Online

Visit Sharekhan website and click on ‘Open an Account’ button. On the right portion of the page, furnish your contact information. Sharekhan sales advisor would get back to you within few hours and schedule a personal visit of local sales representative at your place (Home or Office). You could also choose a comprehensive demo of Sharekhan offerings and trading platform.

  1. Visit Local Branch or Sub-broker Office

Another great option to open an account with Sharekhan is to reach out to a local branch or office of a Sharekhan sub-broker. The representatives there will schedule a personal visit to provide help in opening an account for you. They will also provide a detail demo of the products they provide.

Account Opening Charges

  • Sharekhan Account Opening Charges (Trading Acct): ₹0 (Free)
  • Sharekhan AMC Charges (Trading Acct): ₹0 (Free)
  • Sharekhan Account Opening Charges (Demat Acct): ₹0 (Free)
  • Sharekhan AMC Charges (Demat Acct): ₹400 (Free for 1st year)

Sharekhan provides 4 types of accounts to suite customers need:

  • First Step (for Beginners)
  • Classic (for Investors)
  • Trade Tight (for Active Traders)
  • Advisory (for HNI’s)

Sharekhan Account Opening Status

In order to check the account opening status, the easiest way available is to call your sales representative who assisted you with filling the form or visit local Sharekhan branch.

Sharekhan Account Opening Forms

Sharekhan demat account opening form pdfs are not available for download on its website. Please contact the sales advisor of Sharekhan or visit local branch to get the account opening forms

Documents Required

Here is a list of documents that are needed to open an account account with Sharekhan:

  • Proof of Identity (POI) (Driving license)
  • Proof of Address (POA) (Passport)
  • Proof of Income (For trading in derivatives such as F&O) (Copy of ITR Acknowledgement)
  • Proof of Bank Account (Cancelled cheque)
  • PAN Card
  • 1 to 3 passport size photographs

Sharekhan Trading Platforms

Sharekhan is among those stock brokers of India that invest heavily in technology to provide smoother and easier stock trading experience to its clients.

Sharekhan offers multiple trading platforms to cater to the diverse trading needs of its clients in India. Let’s get to know them below.

Sharekhan Trade Tiger

Trade Tiger by Sharekhan is basically a terminal-based stock trading application that can be downloaded and installed by the investors on their desktops or laptops. It is known to be as powerful as the terminal of a broker. Trade Tiger helps investors trade across various financial segments including equities, currencies, commodities, derivatives, IPOs and mutual funds.

As this trading platform is a hybrid cloud-based application, traders can choose to generate customized market watch lists and fetch them from different machines just by logging into the system. Trade Tiger is known to have lots of features including:

  • Availability of best-in-class market charts for comprehensive research and stock analysis
  • Quick pay in/pay out through its association with 14 national banks
  • Easy access to all trading calls, market research and tips through its dedicated technical and fundamental research desk
  • Customized alerts and notifications based on user preferences for rapid reminders on stocks and exchanges

This trading application is known to be quite popular among traders who always love the way it functions. Doing stock trading through Trade Tiger is totally the best they can get.

Sharekhan Mini

It is a browser-based trading application by the broking house and primarily meant for traders located in small towns, districts and villages. The best thing about this platform is that it works very well even on low internet bandwidth. So, even if you have 2G internet connection, you can choose to do stock trading without any problem.

Some of the major features of this application include:

  • Enables traders to perform basic level analysis via charting and company details
  • Option to invest in diverse asset categories such as Equity, Commodity, Currency as well as mutual funds
  • Data points such as 52-week high/low, gainers and losers of the day etc. are shown
  • Works smoother even on basic smartphones having 2G internet connection

Sharekhan Mobile Trading Application

Sharekhan is known to have faced a lot of issue in regard to mobile-based trading application. The broking house has come up with lots of mobile apps over the last few years. But it encountered dissatisfaction about the among the traders and investors, rather than improving the negative sections of the app, it just launched a new mobile app in total.

Recently, Sharekhan has launched a new app with their brand name itself. The application. The app, until today, has garnered a comparatively positive reaction from both Google Play as well as Apple store on the basis of speed, performance, and precision.

Sharekhan Mobile Trading app contains some great features like:

  • Trading services across various market exchanges
  • Live reports, news, market trends
  • Fund transfer feature from bank account to Sharekhan account

Now, there are some concerns related to the mobile app that include:

  • Login concerns
  • Performance slump particularly in small cities with users have lower internet connection bandwidths.
  • Unavailability of mutual funds investment reports

Sharekhan Neo

Neo is actually a new step taken by Sharekhan in the field of robo-advisory and automated recommendations without any human intervention. One just needs to give specific inputs and compatibly the tool will provide with specific recommendations on where you should be investing your money along with the holding period and risk level.

A trader will be presented with lots of questions such as your investment objective, preferred investing period, risk appetite etc.

It is suggested for long-term investors and individuals who do not have much investment and analysis skill at their disposal.

Sharekhan Customer Ratings and Review

Being one of the biggest stock brokers in India, Sharekhan’s reputation is closely related to the customer service experience it provides to its clients. Also, the expectations of traders and investors are quite high from the broker. Sharekhan provides customer services to its clients through following channels:

  • Toll-Free Number
  • Email
  • Phone
  • Email
  • Chat (intermittently available)
  • Offline Locations (through sub-brokers and franchise offices)
  • Social Media

In terms of customer service quality, Sharekhan is really the best. It clearly reflects from the point that it has various communication channels for the same. The support executives are backed by great skills and can conversate in multiple languages which is really great for South Indian traders and investors.

With respect to the funds transfer process, the broker features a comprehensive list of banks that you can link your trading account with.

This is for sure that the stock broker leaves not a single stone unturned to exceed the expectations of its traders and investors in the best possible manner. This is what makes Sharekhan among the pioneers of the industry.

Sharekhan Pricing

Prepaid and Postpaid – there are two brokerage plans offered by Sharekhan. The concept is pretty simple – the higher margin you put into your account, the lesser percentage you give to the broker. So, let’s get to know both the plans below.

Postpaid Plan

In case of postpaid plan, you need to deposit a specific amount of margin money into your account in advance.

For example, if you open your account with a starting account deposit of ₹50,000, then you need to pay a brokerage rate of 0.5% for the delivery segment and likewise relatively high values for other segments.

Consequently, if you begin trading with the account balance of ₹1,00,000 then your brokerage reduces to half at 0.25% for delivery.

You need to keep in mind that the balance amount you are adding to your account balance is refundable in fact, if required you can reverse it back to your bank account after 3 days of submission.

Segment Brokerage Fee
Flat Monthly Fee
Equity Delivery 0.50%
Equity Intraday 0.10%
Equity Futures 0.10%
Equity Options ₹50 per lot
Currency Futures 0.10%
Currency Options ₹30 per lot
Commodity Futures 0.03%
Commodity Options 0.03%

Prepaid Plan

Under the prepaid plan, a trader needs to pay a certain amount in advance to receive a better brokerage rate. Yet again, the more you pay in the beginning, the less brokerage percentage becomes applicable to your transactions.

Segment Brokerage Fee
Flat Monthly Fee ₹1,00,000 per year
Equity Delivery 0.10%
Equity Intraday 0.015%
Equity Futures 0.015%
Equity Options 0.05% or ₹63 per lot
Currency Futures
Currency Options
Commodity Futures
Commodity Options

What’s difference?

The amount you deposit is non-refundable in nature. This is a one-time subscription cost where you pay a particular amount and similarly a specific brokerage rate is defined against your account.

Transaction Charges

Segment Transaction Fee
Equity Delivery NSE ₹325 | BSE ₹275
Equity Intraday NSE ₹325 | BSE ₹275
Equity Futures NSE ₹190 | BSE ₹50
Equity Options NSE ₹5000 | BSE ₹50
Currency Futures NSE ₹135 | MCX ₹130
Currency Options NSE ₹4220 | MCX ₹3220
Commodity MCX (Non-Agri) ₹230 | MCX (Agri) ₹95

Demat Account Charges

Sr Services (CDSL) Scheme A (AMC 400) Scheme B (AMC 500)
1 Account Opening Charges Nil Nil
2 Annual Maintenance Charges (AMC) ₹400 p.a. ₹500 p.a.
3 Sales – Through Sharekhan Nil Nil
4 Purchases Nil Nil
5 Brokerage Minimum Brokerage of ₹16/ Per scrip settlement delivery (sell) Minimum Brokerage of ₹16/ Per scrip settlement delivery (sell)
6 Sales – Not through Sharekhan/ Offmarket transfer/IDT 0.03% of the value of transact on (Min.Rs.30) 0.03% of the value of transact on (Min.Rs.30)
7 Dematerialization Charges ₹5 per certificate ₹5 per certificate
8 Rematerialisation Charges ₹50 per certificate or ₹50 for every hundred securities ₹50 per certificate or ₹50 for every hundred securities
9 Custody Charges Nil Nil
10 Pledge Creation 0.03% of the value of the transaction (Min ₹100) 0.03% of the value of the transaction (Min ₹100)
11 Freeze/De-freeze ₹25 ₹25
12 Additional Statement of Holding/Transaction ₹10 ₹10

Sharekhan Margins

The exposure or margin details of Sharekhan is given below.

Trading Segment Margin Sharekhan
Equity Delivery Upto 5x with 24% interest per year
Equity Intraday Upto 10x
Equity Future 2x
Equity Options Nil
Currency Future Nil
Currency Options Nil
Commodity Future Upto 2x
Commodity Options

IPO

Sharekhan offers the facility of online IPOs to its customers. The process of applying in Initial Public offers with Sharekhan is completely web-based, very simple and fast. Sharekhan customer doesn’t need to fill the paper forms or sign them to apply for shares offered though IPO’s at BSE and NSE.

Sharekhan IPO application process is made up of 3 easy steps:

  1. Choose the IPO.
  2. Specify the quantity of shares to apply.
  3. Provide the price at which you would like to buy the IPO shares.

That’s it.

  • No documentation, 100% online process.
  • Easy way to transfer money from your linked back account to IPO account.
  • Refund reflects in customers IPO account which can easily be transferred back to back account.
  • Online changes or cancellation of IPO application while the IPO is open.
  • Order history page provides detail of all IPO’s customers applied in past.

Sharekhan Web Trading

Sharekhan also offers a web-based trading application. In order to access it, you need to visit the Sharekhan website, click on login and put in your login details to begin trading. Some of the features of this application are as follows:

  • Investment across diverse segments
  • An easy application requiring basic configuration
  • Order confirmations conveyed via email and SMS
  • Research and recommendations from more than 120 firms listed on the stock market across 6 industry sectors.
  • Pattern finder‘ feature helps the investor to screen stocks that are fit for long-term investments.
  • O Alert‘ feature integrates the application with 3rd party technical analysis softwares for automated order alerts.

Sharekhan Commodity

For those who’re particularly interest in commodity investment, there is a special service with the name of Sharekhan Commodity.

There are various applications scuh as ComTiger, ComMobile & ComMini that can be picked on the basis of your trading favorites and style. In addition, the broker provides individual customer support and research to its respective clients.

The broker provides rational research quality for basic investing while there huge scope of improvement in regard to the quality of technical calls.

Sharekhan Research

The research and recommendations offered by Sharekhan are separated on the basis of the underlying risk appetite and investment goals. In fact, the broker has separated its clients and the respective reports it provides as:

  • Research for Traders
  • Research for Investors
  • Research for Mutual Fund Investors

There are different types of research products given within each of these research types and based on your likes you can subscribe to one or more report types.

In regard to precision and performance, the essential research provided by Sharekhan is quite better than the technical research on offer. The broker has diverse communication channels for its clients who can choose access these reports on a timely basis.

Sharekhan Classroom

Sharekhan classroom is a platform that is provided by Sharekhan to its clients. They can seek access of Sharekhan classroom only if they possess a demat account with the broker. There they provide basic information about investments. Through this platform, it is quite easy to learn about the basics of stock market to even technical aspect of the market.

To learn from Sharekhan Classroom you first need to open a demat account. You can open a demat account with Sharekhan and begin learning from Sharekhan classroom.

There are two different language options – Hindi and English. Once you pick a language you need to decide what you want to learn. Then mark the calendar and then you can decide your courses you want to learn and schedule them.

The Conclusion

First of all, Sharekhan is not a sensible option for regular brokers. This is because they end up paying huge brokerage charges to the broker in case of intra-day trading. For traders and investors who are looking to get high trust from a stockbroker and are even willing to pay premium brokerage charge, then Sharekhan can be a wonderful option.

From trading platforms to educational initiatives, Sharekhan emerges out as a leading player of the industry.

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