Sharekhan Review, Stock Trading Platform, Demat Account, and Brokerage Charges:
This post is about the Sharekhan review given by various users across India in which its features, benefits, products, etc. are covered. Sharekhan is one of the largest full-service stockbrokers based out of Mumbai, India with branches, franchises, and more than 1.4 million clients spread in 550 cities across India.
Initially, Sharekhan was a part of SSKI Group and recently, BNP Paribas Group acquired it.
Sharekhan has a huge client base that includes investors, institutional traders, NRIs, Corporate people, etc and they make investments in BSE and NSE.
Moreover, it also allows people to invest in IPOs and mutual funds and yield benefits of depository services.
Sharekhan Review: About Stockbroker, Services, Offerings
Sharekhan is one of the reputed full-service stockbrokers who offers a wide range of trading services, software to a large client base of experienced & new investors who do not have any prior experience of carrying out trading activities.
As per the Sharekhan reviews provided by its various customers, it is famous for its in-person services through an extensive network of branches in 700+ cities across India. A Relationship Manager (RM) is allotted to every customer who provides them with customer support, stock training, and advisory services. For those who want to trade by themselves, Sharekhan offers them excellent online trading platforms, both on the web and mobile.
Services & Offerings
Sharekhan allows you to trade in almost all asset classes, except cryptos and CFDs. Although, the Sharekhan review lets you know that a person can carry out trading activities only in the Indian markets.
- ETFs & Stocks: Sharekhan is listed in the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). However, it is way behind its competitors that grants permission to access multiple stock exchanges across the world.
- Forex: Sharekhan only allows futures when you trade currencies. USDINR, EURINR, EURUSD, JPYINR, USDJPY, and GBPUSD are a few currency pairs available. However, the other players offer a much wider range in Forex.
- Funds: Sharekhan offers a decent variety of mutual fund providers, most of which are local fund providers like ICICI Prudential, and you can also find international providers.
- Bonds: It also offers bonds. To get more information about the same, the investor/trader needs to visit the Sharekhan website.
- Options & Futures: Sharekhan allows you to trade options and futures on MCX & NSE exchanges.
Sharekhan Brokerage Calculator: Significance
Sharekhan’s Brokerage Calculator is an online tool with which you can calculate brokerage charges, transaction charges, stamp duty, SEBI Turnover charges, STT, and GST across various trade segments. Moreover, you can also check loss or profit incurred for all transactions using the Sharekhan Calculator. The need for the Sharekhan Brokerage calculator is that it helps you calculate all the charges involved during trading along with the hidden ones, which any stockbroker doesn’t reveal while onboarding a customer. It provides you with a clear picture of all the expenses a trader bears while trading with Sharekhan.
Sharekhan Margin Calculator and its Crucial Points to Remember
Sharekhan Margin Calculator helps you calculate exposure offered by Sharekhan for different trade segments, such as Delivery, Intraday, F&O, Commodity, and Currency. With the help of the Sharekhan margin calculator, you can calculate margin funding and the number of extra shares you can buy with the extra leverage offered. Sharekhan review list margins defined under multiple trade segments:
- Delivery: Up to 5X
- Intraday: Up to 32X
- Equity Options, Currency Options, and Commodities: Up to 10X
- Equity Futures: Up to 15X
- Currency Futures: Up to 8X
According to Sharekhan, it is essential to note that this broker offers MTI (Margin To Investment) facility, which allows you to turn your margin trade position into a delivery position. Also, all positions should be converted to an intraday basis if you did not opt for MTI and the stockbroker will not permit you to take the position forward. Traders can avail of up to 10X leverage, which may change based on the stockbroker’s discretion. Furthermore, based on multiple factors mentioned below, the margin values may change from one client to another:
- Capital employed
- Collateral quality
- Client’s past performance
- Market Dynamics & trends & Dynamics
Additionally, clients may use margin trading in the following mentioned ways:
- Through franchise or sub-brokers
- Through the trading platform directly
Sharekhan Demat Account: Opening Process, Charges, & AMC
Sharekhan’s Demat account comes as a Sharekhan investment account for which the opening process is paperless, simple, and involves no charges. Besides the fact that Sharekhan brokerage charges are low, multiple trading platforms, stock research services, advisory services, and insights into the latest trading trends and strategies are also available. According to Sharekhan’s review, its customers leave their trade-related worries behind and enjoy hassle-free trading.
This is also true for beginner investors as its highly proficient & experienced team offers online tutorials/classes, updates on stock market trends, etc., which simplifies the stock trading process for beginners. Let’s have a look at the process of opening a Sharekhan investment account.
- You should start by visiting Sharekhan’s official website, and click the “Open an Account” button, which is on the top right corner of the page, and it will flash up a form.
- Fill in the duly asked information accurately in all fields that are marked as mandatory.
- Submit the form and then you will be asked for KYC completion which will require certain documents to be uploaded for your age, address, and ID verification.
- According to Sharekhan, customers should keep their PAN, Aadhar card, and a copy of their photograph ready while signing up for Sharekhan’s Investment Account.
- Once you are done with all the required steps in the account opening process, authorized personnel on behalf of Sharekhan will contact you to finish the final verification round before handing you over your account.
- After a few hours of final verification, you can access the Sharekhan investment account and start trading.
Account Opening Charges
Trading Account Charges:
- One Time Opening Charges: Zero
- AMC (Annual Maintenance Charges): Zero
Demat Account charges:
- One Time Opening Charges: Covered with Trading Account Opening Charges
- AMC (Annual Maintenance Charges): 1st Year Free with Trading Account, INR 400 (second year onwards)
Sharekhan Reviews: Brokerage Charges, Plans, & Account Types
Sharekhan Brokerage Charges:
- Equity Delivery: 0.5%
- Equity/ Currency Futures: 0.1%
- Intraday/ Commodity: 0.1%
- Currency Options: 2.5%/ INR 30 per lot (whichever is high)
- Equity Options: 2.5%/ INR 100 per lot (whichever is high)
Sharekhan Brokerage Plans:
- Sharekhan Prepaid Brokerage Plan: The first is Prepaid Brokerage Plan. Under this plan, you can have a registered Sharekhan account at a predefined price & receive brokerage according to the sum of the amount you pay in advance. The brokerage is dependent only on the fact that how much amount you prepay.
Kindly note that the amount you pay under Sharekhan’s Prepaid Brokerage Plan is non-refundable, i.e., you will not get it back. However, as long as you have an active Sharekhan account, your brokerage charges will remain the same. Hence, It would be best to opt for this plan only if you are willing to trade in the stock market regularly. It is so because it is not a wise decision to make monetary transactions that are non-refundable prior to carrying out trading activity at zero or less frequency.
- Sharekhan PostPaid Brokerage Plan: The Sharekhan Postpaid Brokerage Plan is completely different from that of the Prepaid Brokerage Plan by Sharekhan, where you are required to pay money in advance. In this, you just deposit a margin amount initially and you will see a corresponding reduction in the brokerage as long as you keep increasing the initial amount.
Also, the initially deposited sum of money is completely refundable and can be used for stock market trading. If you are clear about making an investment in the stock market with a determined sum of money then, go for the Sharekhan Postpaid Brokerage Plan, as it offers better brokerage rates. On the other front, there’s no point in depositing a high margin if you are willing to trade in compact parts after every few months.
Sharekhan Account Types:
Sharekhan’s Classic Account allows individuals to buy/sell stocks online and also offers incredible features, such as integrated banking, multiple watch lists, Demat and digital contracts, instant credit & transfer, and real-time portfolio tracking with price alerts. As per Sharekhan reviews given by customers, below-cited are a few highlights of its Classic Account:
- This is a trading account to invest in equities and derivatives. There is a provision to open the same online.
- Free on-call trade facilities:
- Two dedicated numbers for order placing through your mobile/landline.
- The customers of Citibank and HDFC Bank have the option to enable ‘automatic fund transfer’ via phone banking.
- For the authentication process, there is an IVR-based system in place.
- Trusted and professional advisory services from tele-brokers
- You can place the after-hours order from 8.00 AM to 9:30 AM.
- All accounts including trading, bank, and Demat are integrated.
- The facility of Instant cash transfer against the sale/purchase of shares
- Features IPO investments
- Instant order and trade confirmations through SMS/email
- As per Sharekhan reviews, customers like the single interface for cash & derivatives.
Sharekhan Trade Tiger is an online platform for individual investors who prefer to carry out trading activities with frequency on the higher side. Below-cited is its key highlights:
- A single platform to trade in multiple segments/exchanges
- Allows multiple market watch on a single screen
- Through its tie-up with 12 banks, it allows individuals to transfer funds online
- Availability of graph studies, such as average, know sure-thing, RSI, MACD, Band- Bollinger, etc.
- Features different tools to gauge markets such as Action Watch, Market summary, Span Calculator, Ticker, Tick Query, Option Premium Calculator.
Sharekhan Trade Tiger: Top Features of Desktop Trading Platform
TradeTiger by Sharekhan is a desktop-based trading platform and its features are mentioned below:
- Provide you a single platform to perform trading activities in multiple segments.
- Showcase live market updates along with multiple market watch
- Allows trade from Excel and HeatMap (advanced trading and analytical tools)
- Allows you to customize charts, screens, shortcuts, languages, layouts, themes, etc.
- Through its tie-up with 12 banks, it allows individuals to transfer funds online
- Presence of graph studies, like average, know sure-thing, RSI, MACD, Band- Bollinger, and more.
- Showcase several tools to measure markets like Action Watch, Market summary, Span Calculator, Ticker, Tick Query, Option Premium Calculator.
Sharekhan Online Trading: Key Highlights, Advantages, & Disadvantages
Sharekhan’s web-based trading allows investors to buy and sell stocks along with features like multiple watch lists, integrated banking, instant credit & transfer, real-time portfolio tracking with price alerts, and Demat and digital contracts. Below cited are the salient features of Sharekhan’s web-based trading platform as mentioned in different Sharekhan reviews:
Key Highlights Of Sharekhan Online Trading Platform:
- Online trading account for Equities and Derivatives
- Free-phone trading (Dial-n-Trade)
- Citibank and HDFC Bank customers can enable automatic funds to transfer through phone banking.
- After-hours order placement can be done between 8.00 am and 9.30 am
- Online trading, Bank, and Demat account are integrated
- The facility of instant cash-transfer against the sale/purchase of any shares
- Instant order and trade confirmations through SMS/Email
Advantages Of Sharekhan Online Trading Platform:
- To suit the different requirements of customers, Sharekhan offers a variety of trading platforms, such as online browser-based trading, mobile trading, in-person trade through branch offices, installable terminals, and on-call-trade.
- Sharekhan brokerage charges: There are different brokerage slabs as requirements vary from individual to individual.
- Online/Offline stock training, tutorials, workshops, etc.
- No charges are applicable for DP transactions & online funds transfer to/from bank accounts.
- Sharekhan Brokerage Charges: The brokerage charge is on the lower side in case of high trade volume.
- A wide network of branches across the nation.
- Free Call & Trade
- Fixed Deposit is permitted as collateral in case of Future & Options trading.
Disadvantages Of Sharekhan Online Trading Platform:
- According to Sharekhan reviews, it doesn’t feature banking facilities, it doesn’t offer a 3-in-1 account.
- Sharekhan brokerage charges are percentage-based; hence, they are relatively higher than that of flat-fee stockbrokers.
- Sharekhan brokerage charges: The fee is 10 paise/trade with respect to minimum brokerage and it does not permit trading for the stock lower than Rs. 20 INR.
- It doesn’t allow individuals with Classic accounts to trade in commodities.
Sharekhan Mobile Trading: Top Features to Know
Sharekhan Mobile App Top Features:
Sharekhan offers a user-friendly trading app with the below-cited extensive features for both traders and investors:
- Allows individuals to trade-in Bracket Orders and track all the orders in the enhanced report segment
- Features enhanced live charts
- Individuals can trade, view quotes in an elaborate manner, charts, in addition to Marketwatch and online portfolio straight from the script search screen.
Sharekhan Mini (Low Bandwidth Mobile Trading):
Sharekhan Mini is the low bandwidth trading platform by Sharekhan that you can access even on a basic 2G mobile and also from a smartphone. It allows individuals to:
- Grant access to the charts for multiple National Stock Exchange & Bombay Stock Exchange substitutes to let tracking of current market trends.
- Offer a multi-exchange streaming watchlist for trading across segments.
- Allows mutual funds investment and tracking
- Permit fund transfer from Bank Account to Trading Account/MF/IPO/Vice Versa
Sharekhan Customer Service: Effective & 24*7
Sharekhan is one of the most credible stockbrokers as customers look satisfied with their customer care service. However, investors/traders have larger expectations from the products/services offered by Sharekhan.
As per the Sharekhan reviews given by its customers, you can reach its customer care department through the following mediums:
- Calling on Toll-Free Number
- Send queries through emails
- Query resolution through the chat interface
- Reaching their branches
- Through Social Media Platforms
The customer care executives at Sharekhan are skilled at offering service in several different languages which plays an important role in keeping the communication stream with investors/traders. You simply need to link the trading account with the bank listed in their list to complete the process of fund transfer.
The structure of Sharekhan brokerage charges is very similar to that of traditional stockbrokers (full-service stockbrokers), i.e. on a percentage basis, as per the trade volume. Moreover, they also offer prepaid/postpaid brokerage plans to their clients.
Sharekhan is amongst the group of stockbrokers with excellent stock market experience. They have been in the stock industry for a long time and have established themselves as a reputed brand, which is what traders mostly look for. Hence, they are a safe place for stock trading, suggest the Sharekhan reviews.
In 2000, Shripal Morakhia came into the stockbroking industry and founded Sharekhan to pioneer the online stock brokerage industry. The stockbroker started leveraging right with the inception of online stock trading.
Currently, Sharekhan is one of the best market players in the stock market industry, and many investors strongly believe in it. Besides stock trading, Sharekhan also offers educational facilities with adequate stock knowledge which makes them an ultimate choice for beginner investors.
Indeed, Sharekhan does offer IPO investment, and individuals can also subscribe to their favorite IPOs. Investing in IPOs can be done either online or offline as per the individual’s preferences.
Presently, mobile trading apps are one of the most feasible investment ways and Sharekhan does offer a user-friendly trading app that is easy-to-use and has top-notch features. Irrespective of time and location, individuals can trade on the go.
If you are willing to do leverage-based trading, you can get up to 32x leverage on intraday trading with Sharekhan, cite the Sharekhan reviews. On Equity Futures & Delivery Trading, it offers 15x leverage, 8x on Currency Futures, and 10X on Commodities, Options, & Currency Options.
Indeed! Sharekhan offers stock research services that are of immense help to investors. Their team of experts helps individuals invest rightly to help them yield significant profits from their investment.
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Sharekhan Review: Conclusion
Sharekhan is a reputed stock broker in India with a long and healthy track record. On the positive side, it offers an excellent mobile trading app, low non-trading fees, useful research tools, and efficient customer service. There are some disadvantages too, such as you only have access to Indian markets, trading fees are not reasonable, and only bank transfer is available to deposit/withdraw money. However, since there is no fee for inactivity, zero account maintenance fee for the first year, and an easy-to-use mobile app, it would be worth trying Sharekhan, say the Sharekhan review.
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