Sharekhan is one of the largest full service broker based out of Mumbai, India with over 1.4 million client base. Sharekhan, as the name resembles is a beast in the Indian equity and derivative trading terrain who were in fact, one of the first to introduce the Indians with the concept of online trading.
Our article today is meant to elaborate and analyses the ways in which the company enacts in terms of the products it has to offer, the services it extends, the brokerage amount it imposes, other relevant charges it seeks and of course the significance as well as the effectiveness of the all the platforms it has made its presence on.
Lets have a detailed review of Sharekhan, Sharekhan Demat Account, Sharekhan Brokerage Charges, Sharekhan Trading Platforms like Tradetiger & other important features.
|Experience||8.7 / 10|
|Trading Platform||8.8 / 10|
|Product & Services||8.5 / 10|
|Brokerage Charges||8.3 / 10|
|Research||8.2 / 10|
|Overall Rating||8.50 / 10|
|Broker Type||Full Service Broker|
The brand Sharekhan was originally a part of SSKI Group and was recently acquired by BNP Paribas Group. It has branches & franchises in over 550 cities across India.
They provide brokerage services through their online trading website sharekhan.com and 1850 offices. It also has international presence in the Oman and UAE countries.
Sharekhan has now more than 14,00,000 customers in India and its client base includes individual investors, institutional and traders, corporates & NRI’s. Their offer investment activities in BSE and NSE.
You can invest here in IPOs and mutual funds and take benefits of depository services (demat account). Sharekhan has another wing which provides commodity trading on MCX and NCDEX – Sharekhan comtrade.
|Brokerage Charges||Basic Plan|
|Equity Options||Rs.100 per Lot or 2.5% of Premium (whichever is higher)|
|Currency Options||Rs 30/- per lot or 2.5% on premium (whichever is higher)|
|Brokerage Calculator||Sharekhan Brokerage Calculator|
By carefully observing the table, you can easily conclude that the brokerage house pre-determinedly charges 0.5 % with regard to Equity Delivery Trading, 0.1 % with regard to Equity Intraday Trading, 0.1 % with regard to Equity Futures Trading, 0.1 % with regard to Commodity Trading.
The broking house charges 0.1 % with regard to Currency Futures Trading, Rs. 100 per lot (or 2.5 % on premium or high quantity trades) in terms of Equity Options Trading, Rs. 30 per lot (or 2.5 % on premium or high quantity trades) in terms of Currency Options Trading.
They also levy Rs. 300 every year for the sake of maintaining Demat Accounts annually. Other than the charges mentioned above, the brokerage house does not levy any compulsions with regards to annual maintenance charge for Trading Account, maintenance of any minimum Margin Balance whatsoever.
Sharekhan offers a range of pre-paid and post-paid brokerage plans. These plans are based on the basic brokerage charges and vary based on the margin scheme selected. These basic brokerage charges and the plans have been discussed below.
|Postpaid Plans – New Trader||Postpaid – Day Trader|
|Future next day||0.10%||0.10%||0.09%||0.07%||0.05%||0.04%||0.03%||0.02%||0.02%|
|Option||Rs.100 per Lot||Rs.100 per Lot||Rs.95 per Lot||Rs.80 per Lot||Rs.70 per Lot||Rs.50 per Lot||Rs.40 per Lot||Rs.30 per Lot||Rs.25 per Lot|
|6 Months Prepaid Plan||Annual Prepaid Plan|
|Future Next Day||0.1%||0.1%||0.09%||0.07%||0.05%||0.04%||0.03%||0.02%||0.015%||0.005%|
|Option||Rs.100 per Lot||Rs.100 per Lot||Rs.95 per Lot||Rs.80 per Lot||Rs.70 per Lot||Rs.50 per Lot||Rs.40 per Lot||Rs.30 per Lot||Rs.25 per Lot||Rs.10 per Lot|
As mentioned above at relevant instances, Sharekhan has prescribed certain minimum brokerage charges i.e. a minimum prescribed charge will have to be paid even for every minimal quantum of a trade and as the quantum increase, the charges would increase based on the prescribed rates as discussed above.
These minimum charges have been summarized below for ease of reference:
- Intra-day Trades – Minimum brokerage of 5 paise/share.
As mentioned above, the basic brokerage charge for intra day is 0.1%, hence, if an investor trades for INR 50 or lesser, then a charge of 5 paise/share would be levied as minimum brokerage charge.
- Delivery Based Trades: Minimum brokerage fee of 10 paise/share.
As mentioned above, the basic brokerage for a delivery trade is 0.5%, hence, if any investor trades for INR 20 or lesser, then a charge of 10 paise/share would be levied as minimum brokerage charge.
- Minimum DP charges: Rs 16/- per scrip when the total traded value is Rs 3200/- (or less if it is sell transaction).
As can be clearly gathered from the chart that has been tactically mentioned above, Sharekhan does impose a number of relevant charges other than the usual brokerage from its registered traders and investors.
|Transaction Charges||0.00275% of Total Turnover|
|STT||0.0126% of Total Turnover|
|SEBI Turnover Charges||0.0002% of Total Turnover|
|Stamp Duty||Depends on State (very minimal)|
|GST||18% of (Brokerage + Transaction Charges)|
These charges are taxed in the form of 0.00275 % on the overall turnover value as Transaction Charges, 0.0002 % on the overall turnover value as Securities Transaction Tax, 0.0002 % on the overall turnover value as the SEBI Turnover Charges and 18 % on the sum of the total levied up on brokerage charge and transaction charge.
They also charge a variable amount for the sake of collecting Stamp Duty which is of course a minimal amount nonetheless.
|Depository Source||NSDL & CDSL|
|Account Opening Charges||Rs.750 & Rs.1000|
|Demat AMC Charges||Rs.400 per Annum|
|Trading AMC Charges||Free|
|Offline to Online||Yes|
Sharekhan charges a one-time fee for trading account i.e. an account opening fee of INR 750 for its classic account and INR 1,000 for its Trade Tiger account. These charges are later adjustable against the first 6 months’ brokerage.
As mentioned above, it charges a one-time fee and hence there are no annual maintenance charges (AMC).
For DEMAT account, though the opening fee is NIL but there is an AMC of INR 400. This fee is waived off generally for first year with the trading account.
|Free Demat Account||No|
|Free Trading Account||Yes|
|Discount on Brokerage||Yes|
|Trading Happy Hours||No|
|Flexible Brokerage Plans||Yes|
|1 Month Brokerage Free||No|
|Zero Brokerage for Loss Making Trades||No|
It does not take much to conclude all the type of offers being extended by Sharekhan for all of their respective traders and investors after getting a glimpse at the chart that has been well designed and presented above.
As you can see, the well acclaimed brokerage firm lays down exclusive offers with regards to Free Trading Account opening provision, extensive Concession on the overall Brokerage value, extremely Flexible Brokerage Plans, Referral Offers and even a month worth of brokerage free transaction.
Nonetheless, they have not come up with any offers related to Holiday based Offers, Trading Happy Hours or the provision to charge Zero Brokerage Amount on any or all of the loss making trades.
If the information given above has laid down an impact over you in such a manner that you are already looking forward to join Sharekhan as a trader or as an investor, but are not sure how you can do that.
Simply follow the steps as we mention them underneath and you will end up registering yourself with this amazing brokerage house in absolutely no time:-
- Start by clicking on the green colored ‘Open Demat Account’ button that appears just beneath this section.
- Clicking the button will result in a form getting popped up on to your computer screen.
- Go through every single word mentioned within this form thoroughly and carefully.
- Once you complete reading the entire form, fill up all the mandatory sections with exact and correct details.
- After submitting the form, you will be asked to complete the KYC procedure.
- This procedure will require you to upload certain documents in order to verify your age, address and identification.
- For this, you must have you Adhar card, PAN Card and a copy of your photograph.
- As soon as you conclude all the previously mentioned steps, you well be contacted upon by an authorized personnel on behalf of Sharekhan who will commence the final round of verifications before handing you over your account.
- You may expect to get the access to your new account with Sharekhan after the final verification within a couple of hours.
Being a trader across various government recognized indices and exchanges within the Indian constitution requires the people to have a Demat or at least a Trading Account. Moreover, registering yourself as a trader with a reputed brokerage house comes with its own perks.
Here are some of the most compelling reasons as to why you should consider registering a Demat or a Trading Account with Sharekhan:-
- They are one of the first brokerage houses in India to introduce the traders and investors of the nation with the very concept of online trading.
- They have a humongous network of more than two thousand six hundred outlets across five hundred and seventy five cities and twenty eight states, waiting to assist you with some of the best services and products within the industry.
- Sharekhan has been recognized more than once in the past. As a matter of fact, they have been bestowed up on with multiple awards.
- For suite customer requirement they offer different trading platform that includes Installable terminal, mobile, call & trade and in-person trade through branch offices and online browser based trading.
- It offers different brokerage slabs to suit individual customers. Higher your trade your brokerage gets reduced. They have multiple brokerage schemas are available with them.
- They offer to investors both online and classroom training, seminars, tips and workshops.
- It doesn’t charge for any DP transactions. The transfer of share from and to the DP account is free.
- Sharekhan has nation-wide network of branches. You can easily find a Sharekhan branch in your neighborhood.
- Call & Trade facilities are free with Sharekhan.
- It also allows fixed-deposit as a collateral for future and option trading.
Here are the list of Products & Services offered by Sharekhan:
Giving even a short glimpse at the above mentioned chart of elements will give you a proper understanding of all the products that Sharekhan has to offer.
They clearly products with reagrds to Systematic Investment Plans, Commodities Trading, Mutual Funds, Options Trading, Equity Trading, Currency Trading and Futures Trading.
However, they do not have any products in terms of Insurance, Banking or Forex Based Trading.
|3 in 1 Acount||No|
|Trading Exposure||Upto 32x|
Now, if you look in to the above mentioned table with a bit concentration, then you will observe that this is the most interesting section of this entire article.
Why? Because, Sharekhan, as one of the major brokerage houses in the nation provide almost all the trade related services one can ask for.
Typically, speaking, they provide services in regards with Trading Institution, Portfolio Management, Initial Public Offerings, Robo Advisory, Trading, Demat, Stock Recommendations and Intraday Services with a trading leverage of up to thirty two times.
In addition to the above mentioned services and products, Sharekhan also provides research services. They have their own research teams which help traders with stock tips, quarterly company result analysis, investment advices & policies and news alerts to its customer though email, SMS and through other campaigns.
It would provide free online and classroom seminars / workshops to their investors. The Sharekhan Accounts come with both online and in-person help from the Sharekhan representatives.
Another interesting offer of Sharekhan is the PatternFinder tool. This analytical tool studies the scrips and the indices and then flashes prospective opportunities to investors.
This may help in saving investors time and effort as it does all the analysis and scans all the stocks, conducts technical analysis, prepares charts, patterns and forecasts prices.
|Research & Advisory|
|Company Stock Review||Yes|
|Free Stock Tips||Yes|
|Daily Market Review||No|
It is no miracle that Sharekhan has managed to achieve such gigantic success in such a short time. They provide extensive leverage and exposure on certain asset classes, give out a lot more than satisfactory services to their respective clients and investors, enable their respective traders to trade across all the major asset classes and also excel in providing ace quality research and advisory.
As you can see within the table mentioned above, they provide overwhelmingly gratifying research and advisory in terms of Offline Advisory, Monthly Reports, Company Stock Overview, Weekly Reports, Annual Reports, Fundamental Reports, Top Picks, Research Reports, Company Reports and Free Stock Tips.
They also provide a Relationship Manager to their respective clients. In short, they provide all sorts of research and advisory apart from Daily Market Review and Initial Public Offering Tips.
|Exposure / Leverage|
|Equity Delivery||Upto 15x|
|Equity Intraday||Upto 32x|
|Equity Futures||Upto 15x|
|Equity Options||Upto 10x|
|Currency Futures||Upto 8x|
|Currency Options||Upto 10x|
|Margin Calculator||Sharekhan Margin Calculator|
The aforementioned table has been deliberately placed so as to give you a proper understanding of the kind of leverage Sharekhan provides across all the major asset classes.
As you can see within the chart, they typically provide a trading exposure of upto 15X on Equity Futures Trading, upto 32X on Equity Intraday Trading, upto 8X on Currency Futures Trading, upto 15X on Equity Delivery Trading, upto 10X on Commodities Trading, upto 10X on Equity Options Trading and upto 10X on Currency Options Trading.
Nevertheless, if you still end up having any doubts about the exact amount of leverage that you’ll get on a complex number of shares you want to buy, then, you must, without any second thoughts refer to their dedicated tool Sharekhan margin Calculator.
Like all full service broker sharekhan also provides trading platforms for all devices & browsers, lets review its trading platforms.
|Desktop Platform – Windows||Yes|
|Desktop Platform – Mac||Yes|
|Desktop Browser Platform||Yes|
|Mobile Site Platform||No|
|Android App Platform||Yes|
|iOS App Platform||Yes|
|Windows App Platform||No|
|Other Mobile OS Platform||No|
|Real time Updates||Yes|
|Online MF Buy||Yes|
|Multi Account Management||Yes|
The key features of TradeTiger are:
- Allows trading in multiple segments (for multiple exchange BSE/NSE/Cash & F&O/ MCX/NCDEX ) from a single platform
- Real time market updates; Multiple Market Watch available
- Offers advanced trading and analytical tools like Trade from Excel and HeatMap
- Allows to customize the charts, screens, languages, themes, layouts, shortcuts etc.
- Tie-up with 12 other banks for online transfer of funds
- Graph Studies are available including Average, Band- Bollinger, Know Sure-Thing, MACD, RSI, etc.
- Hot keys similar to a traditional broker terminal
- Different tools available to gauge market like Tick Query, Ticker, Action Watch, Option Premium Calculator, Span Calculator and Market summary.
In this Trading platform, investors can buy and sell stocks with provided features like Integrated Banking, multiple watch lists, demat and digital contracts, Instant credit & transfer and Real-time portfolio tracking with price alerts. Below are the following features:
- Online trading account for Equities and Derivatives
- Free trading through Phone / Dial-n-Trade (discussed below)
- Automatic funds transfer with phone banking (for the customers of Citibank and HDFC bank).
- After-hours order placement facility between 8.00 am and 9.30 am
- Integration of: Online trading + Bank + Demat account
- Instant cash-transfer facility against the purchase & sale of any shares
- Get Instant order and trade confirmations by e-mail or SMS
A user friendly app with following features:
- Offers extensive features for both traders and investors
- Lets the user trade, view charts & detailed quote, add to marketwatch & virtual portfolio directly from scrip search page
- Enhanced live charts
- Lets the user Trade in advanced orders (Bracket Order) and track the orders in enhanced report section
A low bandwidth website which can be accessed on a basic 2G phone as well as smartphone. This website allows users to:
- Track the market trend by allowing access to chart for various BSE and NSE scrips;
- Trade in various segments with multiexchange streaming watchlist
- Invest in and track Mutual funds;
- Transfer funds from Bank to Trading account or MF or IPO & vice versa
This platform lets the investor undertake trading activity through phone calls. This platform has a 3 step security process. The investor would have to call at the dedicated contact numbers and provide a PIN, post which investor would be connected with the telebroker and can place an order therewith.
The features for this platform are:
- Toll free numbers;
- The calls are recorded;
- No capping on the number of calls;
- The telebroker also provides guidance, assistance and tips, if asked for
- Facility to discuss and understand trends and factors affecting the markets
- For equity and derivatives, the timings are 8:30 AM to 4:30 PM and for trading in commodity, the timings are 9:00 AM to 5:00 PM.
The table has been presented in a way that it explains every sort of support being provided by the customer care section of Sharekhan.
|Toll Free Number||1800 22 7500|
As you must have already concluded, the nationwide acclaimed brokerage house provides exclusive support in terms of Chat Support, Online Support, Dedicated Dealer, Online Support and Email Support.
They have a network of around one hundred and twenty six branches located across the nation and also allow the traders and investors to reach out to them through a toll free number that is 1800 22 7500. However, they do not provide the support 24 * 7.
|Complaints (Current Year)|
|Lodged in BSE||198|
|Resolvd in BSE||184|
|Lodged in NSE||218|
|Resolved in NSE||217|
Sharekhan received a total of one hundred and ninety eight complaints against them in the Bombay Stock Exchange and two hundred and eighteen complaints in the National Stock Exchange.
Nevertheless, around one hundred and eighty four and two hundred and seventeen complaints were resolved within the same year in the respective exchanges as well.
- Does not offer a 3-in-1 account as they do not provide any banking services.
- The brokerage charges are Percentage-based which is higher in comparison to flat fee brokers.
- They charge a minimum brokerage of 10 paisa/stock. It would not let you stocks trade below 20 rupees (you may lose the majority of money in brokerage).
- Facility to place order after the trading hours is not available.
- The Classic account holders can’t trade on commodities.
Sharekhan, has very well proven its worth in terms of a market leader in over the past few years. The company refuses to be constant about its growth in terms of technology and constantly focuses on improving its products and services, which in itself, is a commendable feat.